...Macroeconomics Analysis of Italy Andrea Sica Università degli Studi di Salerno – UNISA MA Student of Business Administration and Consulting 2010-2012 http://www.economia.unisa.it/ Economic Growth and Development ECON 405 September 27th, 2011 – January 3rd, 2012 TABLE OF CONTENTS Introduction...................................................................... 1 Brief analysis of the evolution ......................................... 2 Main sensitive data .......................................................... 4 Conclusion ..................................................................... 15 References……………………………………………………………………… Appendix............................................................................ LIST OF TABLE TABLE 1 – TRENDS OF POPULATION, GDP IN CURRENT USD AND GDP PER CAPITA DATA (2001-2010)………………….. 4 LIST OF FIGURE FIGURE 1 – FIGURE 2 – FIGURE 3 – PERSONAL COMPARISON AMONG REAL GDP PER CAPITA AND POPULATION (% ANNUAL GROWTH). ..........7 FOCUSING ON THE POPULATION GROWTH IN ANNUAL PERCENTAGE.....................................................8 PERSONAL ELABORATION OF THE NUMBER OF PATENTS APPLIED IN ITALY BY RESIDENT AND NONRESIDENT ......................................................................10 FIGURE 4 – PERSONAL COMPARISON OF THE PATENTS AND APPPLICATIONS’ LEVEL AMONG THE WORLD EUROPE AREA, FOCUSING ON A FEW COUNTRIES ...........11 FIGURE 5 – A PERSONAL ANALYSIS OF THE ...
Words: 9913 - Pages: 40
...individual in making optimum use of money to achieve maximum returns. While working on this specific assignment I decided to concentrate on financial ratio analysis, since I am the business owner, and most of the financial terms like balance sheet, shareholder’s equity, EBITDA, EBITDAM, financial ethics, financial benchmarking I am very familiar with. I must admit that understanding financial ratio analysis I found somehow difficult, this is why I decided to concentrate on this topic. Summary of Articles The first article that I read is called “Financial Ratios, Discriminant Analysis and the Predictions of Corporate Bankruptcy” by Edward I. Altman, published 1968 in the Journal of Finance. The article says that academicians are seeking to eliminate ratio analysis as an analytical technique in assessing the performance of a business. According to the article theorists are attacking the relevance of ratio analysis. The article explores the possibility of whether the gap between traditional ratio analysis and more rigorous statistical techniques can be bridged. According to the article the traditional ratio analysis is no longer an important analytical technique in the academic environment because of the unsophisticated manner in which it has been presented. The research combined financial ratios with discriminate analysis, applying this to the problem of corporate bankruptcy prediction. The article concludes that if the ratios are analyzed within a multivariate framework...
Words: 1459 - Pages: 6
...the price of a stock can be influenced by a “herd” on Wall Street with prices set at the margin by the most emotional person, or the greediest person, or the most depressed person, it is hard to argue that the market always prices rationally. In fact, market prices are frequently nonsensical.” ------------------------------------------------- This report will analysis the statement by Warren Buffett, and it considers the contrasting evidence on the validity of the observation on the Efficient Markets Hypothesis. The report briefly outlines the forms of the Efficient Market Hypothesis, the report also analysis’s the evidence both seminal and recent on the theory relating to the three forms of the hypothesis. It also examines the theoretical role and motivation of analysts in creating market efficiency; lastly it looks at alternative perspectives on the pricing of securities. Introduction In 1984 Warren Buffett penned an article titled “The Superinvestors of Graham-and-Doddsville”, based on a speech he had given on the occasion of the 50th anniversary of his mentor Ben Graham’s legendary textbook, Security Analysis. In it, Buffett rejected the then growing (and now entrenched) view in academia that markets are ''efficient'' because ''stock prices reflect everything that is known about a company’s prospects and about the state of the economy.'' Warren Buffett argued against EMH, saying the preponderance of value investors among the world's best money managers rebuts the claim...
Words: 2524 - Pages: 11
...THE INFORMATION CONTENT OF EARNINGS AND SYSTEMATIC RISK IN CHANGING ECONOMIC CONJECTURE : THE TURKISH CASE A THESIS SUBMITTED TO THE GRADUATE SCHOOL OF SOCIAL SCIENCES OF MIDDLE EAST TECHNICAL UNIVERSITY BY FATMA AKSOY IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION OCTOBER 2008 Approval of the Graduate School of Social Sciences Prof. Dr.Sencer Ayata Director I certify that this thesis satisfies all the requirements as a thesis for the degree of Master of Business Administration. Prof. Dr.Cengiz Erol Head of Department This is to certify that we have read this thesis and that in our opinion it is fully adequate, in scope and quality, as a thesis for the degree of Master of Business Administration Prof. F. N. Can Şımga-Muğan Supervisor Examining Committee Members Assoc. Prof. Zeynep Önder Prof. F. N. Can Şımga-Muğan (BILKENT UNIVERSITY, BA) (METU, BA) Assist. Prof. Engin Küçükkaya (METU, BA) I hereby declare that all information in this document has been obtained and presented in accordance with academic rules and ethical conduct. I also declare that, as required by these rules and conduct, I have fully cited and referenced all material and results that are not original to this work. Name, Last name : Fatma, Aksoy Signature : iii ABSTRACT THE INFORMATION CONTENT OF EARNINGS AND SYSTEMATIC RISK IN CHANGING ECONOMIC CONJECTURE: THE TURKISH CASE Aksoy, Fatma M.B.A., Department of Business...
Words: 6194 - Pages: 25
... Using that information, and the history provided in the attached PDF file, research the HCA organization and after conducting a SWOT analysis, respond to the following Questions. 1. Chapter 6 focuses attention on Strategic Actions and Strategic Formulation and emphasizes Corporate Relatedness and the Transfer of Core Competencies on page 171. What were HCAs core competencies and how did these competencies build Value for the company? What type of Business Level strategy did they pursue when the company began in 1968? 2. Over a period of years (1968-1985), HCA acquired many small rural hospitals; many of which were struggling to fund new technologies necessary to provide care to the citizens of their communities, and responding to new Federal Government regulations related to Medicare and Medicaid (1965). In the late 70's and early 80's HCA began to acquire competing investor-owned health care companies . Compare and contrast these strategies to the text reference relative to Restructuring of Assets outlined in Chapter 6. What role, if any, did the General and Competitive environment play in these strategies? 3. Consider the comments of the author of the text; "page 195, The Popularity of Mergers and Acquisition Strategy". How did HCA utilize strategies of Horizontal and Vertical Integration to exploit these concepts during the 1980s and 1990s. Reference the files and links provided in your response. 4. On page 203 chapter 7, the author describes...
Words: 636 - Pages: 3
...Intel Aisha Sultana Busgr-590 In 1968 a chemist Gordon E. Moore and a physicist Robert Noyce who co-invented the integrated circuit, left the company named Fairfield Semiconductor and founded what became Intel. Intel was incorporated in California in 1968 and re-incorporated in Delaware in 1989. Intel developed x86, microprocessors for personal computer the leading PC microprocessor. These include 8086,386, 486, Pentium and the newest Quad Core and i7 processors. Intel processors are faster than their competitor’s (AMD) like processor but it cost more. Later they hired Andy Grove and several other researcher to help them. Andy Grove later became CEO in 1987; Grove was very demanding and expects high expectation from everyone. Grove was detailed oriented, pushed hard to measure everything and was constantly looking for ways to drive down costs and speed up development process. He became Intel’s strategic planner by discipline, and pushed people to their limits to get things done. By 1999 Intel has become one of the biggest and best known businesses in the world. Intel’s growth happened in a number of clear phases. It began with excellence in semiconductor manufacturing, with SRAM (Static Random Access Memory) chips its main product. Intel improved its manufacturing processes and expanded its product line throughout the 1970'a, growing its business to new levels. Intel had created the worlds' first microprocessor (Intel 4004) in 1971, and an early microcomputer...
Words: 451 - Pages: 2
...| The Effects of the Economy on Divorce Rates | | | = | I. Introduction Divorce has become quite common over the last few decades in the United States, as well as in other industrialized countries. It is often discussed as a social problem or phenomenon, with its causes usually related to cultural and structural changes such as increased female labor force participation and legislation which makes divorce easier to obtain. Furthermore, divorce today has become more socially accepted, as individuality has become the dominant value in our capitalist society. Despite the social acceptance of divorce, I think most would agree with me in stating that divorce is not desirable, as it causes emotional, physical and financial strains not only on those directly involved, but on their children and extended families as well. In this paper, I investigate the relationship between divorce and economic cycles in the United States from 1950 to 2000. My intention is to discover whether and how divorce rates change in periods of economic recession, as compared to periods of economic growth. It is important to look into further trends in divorce rates, as its increase over time may not simply be an issue of social and cultural changes, but rather another one of the effects of the economy on the family unit in the United States. My hypothesis is that divorce rates will decrease in periods of economic growth, as a husband's increased income has been identified to have a stabilizing...
Words: 2536 - Pages: 11
...Inhibition of Return 012687 University of Nottingham Malaysia Campus Abstract Inhibition of return (IOR) could be defined as the reduced probability of visual attention returning to a previously attended target (Eysenck and Keane, 2010). The following study uses the Posner paradigm (1980) to study attentional research. The study investigated the effects of CTOA (cue-target onset asynchrony) and validity of cues on the subjects’ RT towards detecting a target. The following study employed a within-subjects design where 56 participants run the experiment on computers using PsychoPy as the experimental software, and they were required to fixate on a point while being aware of the surroundings, then press on the spacebar as soon as they spot a target come up after the cue. Posner and Cohen (1984) found that when the CTOA was longer than 200ms, the participants’ RT will be longer if a target appeared at a cued location. In our experiment, it was revealed that although participants’ results showed the existence of the IOR, however there was no significant difference between both variables and the RT. According to James (1890), attention "is the taking possession of the mind, in clear and vivid form, of one out of what may seem several simultaneously possible objects or trains of thought. It implies withdrawal from some things in order to deal effectively with others." Psychologists have been able to divide the concept of attention into two groups: selective attention and divided...
Words: 1644 - Pages: 7
...368 Academy of Management Journal June Levy, P., & Pugh, D. Scaling and multivariate analysis in the study of organizational variables. Sociology, 1969, 3(2), 193-213. Litwin, G. H., & Stringer, R. A., Jr. Motivation and organizational climate. Boston: Harvard University Press, 1968. Mohr, L. B. Determinants of innovation in organizations. American Political Science Review, 1969, 63, 111-126. Palumbo, D. Power and role speciflcity in organization theory. Public Administration Review, 1969, 29, 237-248. Paolillo, J. G. Technological innovation in organizational R&D subsystems. Unpublished Ph.D. dissertation. University of Oregon, 1977. Paolillo, J. G., & Brown, W. B. How organizational factors affect R and D innovation. Research Management, 1978, 7, 12-15. Pritchard, R. D., & Karasick, B. W. The effects of organizational climate on managerial job performance and job satisfaction. Organizational Behavior and Human Performance, 1973, 9, 126-146. Rogers, E. M., & Eveland, J. D. Diffusion: Communication and innovation in organizations. In P. Kelly & M. Kranzbert (Eds.), Aspects of technological innovation. Atlanta: Advanced Technology and Science Studies, Georgia Institute of Technology, 1975, 301-368. Sapolsky, H. M. Organizational structure and innovation. The Journal of Business, 1967,40, 497-510. Vegso, R. W. Organizational characteristics that influence innovative behavior. Unpublished Ph.D. dissertation. University of Cincinnati, 1976. Zaltman, G., Duncan, R., & Holbeck, J...
Words: 3679 - Pages: 15
...ZKD Veröffentlichungsreihe der Forschungsgruppe „Zivilgesellschaft, Citizenship und politische Mobilisierung in Europa“ Schwerpunkt Zivilgesellschaft, Konflikte und Demokratie Wissenschaftszentrum Berlin für Sozialforschung ZCM Agnes Arndt / Dariusz Gawin Discourses on Civil Society in Poland Agnes Arndt: Premises and Paradoxes in the Development of the Civil Society Concept in Poland Dariusz Gawin: Civil Society Discourse in Poland in the 1970s and 1980s Discussion Paper Nr. SP IV 2008-402 ISSN 1860-4315 Wissenschaftszentrum Berlin für Sozialforschung gGmbH Social Science Research Center Berlin Reichpietschufer 50, 10785 Berlin Federal Republic of Germany Telefon: +49/30/25491-0 Telefax: +49/30/25491-684 E-Mail: wzb@wz-berlin.de Internet: http://www.wz-berlin.de Agnes Arndt ist Historikerin. Sie ist Promotionsstipendiatin der Gerda Henkel Stiftung am Berliner Kolleg für Vergleichende Geschichte Europas“ an der Freien Universität Berlin sowie Gastwissenschaftlerin der Forschungsgruppe „Zivilgesellschaft, Citizenship und politische Mobilisierung in Europa“. Agnes Arndt is Historian. She is PhD fellow at the “Berlin School for Comparative European History” at the Free University Berlin and associated research fellow of the research group “Civil Society, Citizenship and Political Mobilization in Europe". Dariusz Gawin ist Direktor am Museum des Warschauer Aufstands in Warschau. Dariusz Gawin is director at the Warsaw Rising Museum, Warsaw. Zitierweise: Agnes...
Words: 22970 - Pages: 92
...area is well-suited for testing of increasingly sophisticated, data-intensive forecasting approaches. Contents [hide] 1 History 2 Modern methods 3 References 4 External links [edit]History The history of bankruptcy prediction includes application of numerous statistical tools which gradually became available, and involves deepening appreciation of various pitfalls in early analyses. Interestingly, research is still published that suffers pitfalls that have been understood for many years. Bankruptcy prediction has been a subject of formal analysis since at least 1932, when FitzPatrick published a study of 20 pairs of firms, one failed and one surviving, matched by date, size and industry, in The Certified Public Accountant. He did not perform statistical analysis as is now common, but he thoughtfully interpreted the ratios and trends in the ratios. His interpretation was effectively a complex, multiple variable analysis. In 1967, William Beaver applied t-tests to evaluate the importance of individual accounting ratios within a...
Words: 382 - Pages: 2
...Book assignment: Paper # 2 10/29/10 Claim: Critical Analysis of Worker’s Benefits and Protection as Presented in Milton Friedman’s Free to Choose. In Chapter eight of his popular Free to Choose, Milton Friedman takes on labor unions and government intervention in labor markets. He disputes the commonly held notion that labor unions and government spending are the cause of improvements in the living standards and wages of workers over the 19th and 20th centuries. He argues that because only “3 percent of workers” were members of unions as late as 1900, and because government regulation of the labor market was minimal prior to the New Deal, these two factors clearly had a limited role in the improvements in workers’ standard of living (228). Instead he points to the idea that when “no one”—or the invisible hand of the market—is instead responsible for protecting workers and improving their lives, workers see the most benefit. Friedman’s conclusion is that workers lot will improve most if the influence of union and government is reduced (247). Since 1980, when the book was published, there has been a steady decline in the percentage of workers who are members of labor unions, while the minimum wage has fallen behind inflation, effectively decreasing. Given that situation, it is possible to evaluate Friedman’s main prediction, as well as his component arguments in light of the new evidence. Friedman argues that the term...
Words: 855 - Pages: 4
...Reagan Analysis George W Ivery III HIS 145 June 16, 2014 Shaun Sullivan Reagan Analysis President Ronald Reagan the 40th President of the United States had certain qualities that made people think of him in several different lights. One of the ways people saw him is overrated and taking credit for what he did not do when he resided at the White House as president. On the other hand some said he is much underrated due to him not getting proper credit for some of the things he did and changed while he was in office. He had quite a few items that are in the history of this country, which include the Principles of the New Right, the Iran Contra Affair, and credit for ending the Cold War between the United States (U. S.) and the Soviet Union (USSR). These are just a few items that will be taken into consideration to see if he was or was not the person that is liked or disliked by the people of the U. S. The election of President Reagan in 1980 saw the emergence of what was considered the “conservative cause known as the “New Right” movement, partly in response to counter-cultural protests of the 1960’s-evangelical Christian groups, social issues” (The resurgence of conservatism 1980-2000, 2014). The Reagan Doctrine; “A strategy orchestrated and implemented by the United States under the Reagan Administration to oppose the global influence of the Soviet Union during the final years of the Cold War” (The resurgence of conservatism 1980-2000, 2014). It is also known as...
Words: 1418 - Pages: 6
...Case Analysis Intel Corporation: 1968-2008 Case 6 Name: Po-Hsun Lo ID: 11018704 Date: 01/22/2012 Abstract Intel, the leading manufacturer of microprocessor since 1985, possessed 77.46% worldwide share of microprocessors for personal computers in 2007. Revenue of Intel kept increasing even during the recession of 2007, and Cost of goods sold reduced from 2005 to 2007. Such overwhelming performance pushed its major competitor, AMD that was expected to lose $1 billion on sales in 2007, to the edge. Although Intel had ruled the microprocessors for PCs, the growth of PCs market started showing slump, which meant exploring new market is getting importance to Intel. Corporation Overview Founded by Robert Noyce and Gordon Moore in 1968, Intel started business by manufacturing dynamic random access memories (DRAMs) based on the technique from Fairchild. Besides the two founders, big part of early success of Intel was attributed by Andy Grove, one of researchers hired as Intel founded. Andy was charged as director of operations, so he had designed the first manufactory of Intel producing in competitive cost. His attributions and performance resulted in that he was named CEO in 1987 and positioned CEO until 1998. His management philosophy was detail oriented; everything must be constantly checked, especially about driving down cost and speeding up development processes. Therefore, Intel is always leading on product innovation in microprocessors industry. Intel strongly grew...
Words: 1625 - Pages: 7
...a larger pattern that is different from any of the parts. The fundamental systems-interactive paradigm of organizational analysis features the continual stages of input, throughput (processing), and output, which demonstrate the concept of openness/closeness. A closed system does not interact with its environment. It does not take in information and therefore is likely to atrophy, that is, to vanish. An open system receives information which it uses to interact dynamically with its environment (Bertalanffy, 1968; Littlejohn, 2001; Midgley, 2003) The assumption of Systems theory is that, any system is greater than the sum of its parts. Bertalanffy (1968:28) opined that “an open system interacts with its environment, inputs brings about output across the organizations boundaries with its environment”. Thus the open Systems theory stresses the mutual dependence which exists between an organization and its environment. The notion of interdependence of the systems theory as asserted in the works of earlier scholars were further strengthened by Spanier (1972:9) when he asserted that, ‘systems analyses embody all the components of sovereign states and focuses on relationships among the units and on their independence”. The Systems theory provides definitions, assumptions and postulates about all levels of the system, be it state or international. To Schein (1980:14), “a system is composed of regularly interacting or interrelating groups of activities. Organizations are complex social...
Words: 3330 - Pages: 14
