and Intellectual Property (IP) (1) Intellectual Capital - “the difference between the market value of a publicly held company and its official net book value is the value of its intangible asset.” (sviebly 1997) - Example: stock prices change in response to changes in management of an enterprise (Microsoft, oracle, SAP) - Can be highly volatile entity and dependent on daily fluctuation of capital market - However may create tangible risks for investors and other stakeholders. - Organisation
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Le terme Tiers monde est apparu, comme une formule, dans la chute d'une chronique de l'économiste et démographe français Alfred Sauvy en 1952, en référence au tiers état (de l'abbé Sieyès) français sous l'Ancien Régime. « Car enfin ce tiers monde ignoré, exploité, méprisé comme le tiers état, veut lui aussi, être quelque chose ». C’est cette volonté d’avoir un poids et une place dans les relations internationales ainsi que le contexte de guerre froide qui conduit les pays membres du Tiers Monde
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How Capital Markets Enhance Economic Performance and Facilitate Job Creation BY WILLIAM C. DUDLEY US CHIEF ECONOMIST GOLDMAN, SACHS & CO. BY R. GLENN HUBBARD DEAN COLUMBIA BUSINESS SCHOOL NOVEMBER 2004 How Capital Markets Enhance Economic Performance and Facilitate Job Creation BY WILLIAM C. DUDLEY US CHIEF ECONOMIST GOLDMAN, SACHS & CO. BY R. GLENN HUBBARD DEAN COLUMBIA BUSINESS SCHOOL Introduction Our main thesis is that well-developed capital markets generate many economic
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the target's stock will be converted into stock of the acquirer based on the exchange ratio predetermined in the merger agreement. The arbitrageur delivers the converted stock into his short position to complete the arbitrage. In an efficient capital market, the price of the target and acquirer will fully and immediately reflect the terms of the merger. However, risk arises from the possibility of deals failing to go through. Such possibility put the risk in the term “risk arbitrage”. Green circle had
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October 2012 ------------------------------------------------- University malaya faculty of business and accountancy CBEB 2102 financial management Group Member: Isabelle Chong Sim Yi – CEB 110017 Li Ying – CEB 110716 Yap Hong Zhen – CEB 110084 ------------------------------------------------- University malaya faculty of business and accountancy CBEB 2102 financial management Group Member: Isabelle Chong Sim Yi – CEB 110017 Li Ying – CEB 110716 Yap Hong Zhen – CEB 110084 GROUP REPORT
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Contents HFT 2 Market Microstructure Review 4 Types of Equity Markets 4 Dark Pool 5 News 5 HFT High frequency trading – grown to account for 20-30% of the volume on the exchanges. Low – latency hardware strategically placed as close as possible to exchange data centers. HFT – defined by trading where speed matters. Subset of HFT by TMX program – ELP (electronic liquidity provider) Today, typical high frequency systems are interpreting and reacting to market data in microseconds
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which I assay a framework for understanding the genesis of the crisis. December, 2008: IN ITS LEADER of October 13, 2008, the Financial Times characterized the western world’s banking system as suffering “the equivalent of a cardiac arrest.” The collapse of confidence in the system means that “it is now virtually impossible for any institution to finance itself in the markets longer than overnight.” This occurred less than a month after Lehman Brothers (LB) collapsed, without bailout. Six months earlier
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Financial Terms and Roles Shannan Cousin FIN 370: Finance for Business April 13, 2013 Amy Grover, MBA In this paper I will outline the fourteen financial terms and roles for the following words finance, efficient market, primary market, secondary market, risk, security, stock, bond, capital, debt, yield, rate of return, return on investment and cash flow and identify their roles in finance in today’s business world. These fourteen terms and roles are very essentials in today’s business
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been released. Testing these theories provides evidence that can be used to predict the impact of accounting regulations before they are implemented. PAT has an economic focus and seeks to answer such questions – what is the effect of reported financial statements on share price, for example? For the above issue, PAT is based on assumption about the behavior of individuals: that is Manager, investors, lender and other individuals are rational, evaluative utility maximize® (REM). Chapter 7
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computers, attempts to theorise accounting took a new direction. Large data collection and analysis emphasized a purportedly more systematic empirical approach to developing theory. Key words: accounting; neo-empiricism; capital markets research; behavioural finance; efficient markets hypothesis; positive accounting theory INTRODUCTION Around 1970 there was a dramatic change in the approach to accounting research. Several reasons have been suggested for this change in methodological direction by those
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