...Forbes Alexander, Jabil Circuit; Steve Munger and Don Chew, Morgan Stanley. Moderated by Jeff Greene, Ernst & Young Liquidity, the Value of the Firm, and Corporate Finance 32 Yakov Amihud, New York University, and Haim Mendelson, Stanford University Real Asset Valuation: A Back-to-Basics Approach 46 David Laughton, University of Alberta; Raul Guerrero, Asymmetric Strategy LLC; and Donald Lessard, MIT Sloan School of Management Expected Inflation and the Constant-Growth Valuation Model 66 Michael Bradley, Duke University, and Gregg Jarrell, University of Rochester Single vs. Multiple Discount Rates: How to Limit “Influence Costs” in the Capital Allocation process 79 The Era of Cross-Border M&A: How Current Market Dynamics are Changing the M&A Landscape 84 Transfer pricing for Corporate Treasury in the Multinational Enterprise 97 The Equity Market Risk premium and Valuation of Overseas investments John Martin, Baylor University, and Sheridan Titman, University of Texas at Austin Marc Zenner, Matt Matthews, Jeff Marks, and Nishant Mago, J.P. Morgan Chase & Co. 113 Stephen L. Curtis, Ernst & Young Luc Soenen,Universidad Catolica del Peru, and Robert Johnson, University of San Diego stock Option Expensing: The Role of Corporate governance 122 Sanjay Deshmukh, Keith M. Howe, and Carl Luft, DePaul University Real Options Valuation: A Case study of...
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...Data Mining for Predictive Analytics Stanley Kenton Marks December 11th, 2012 Abstract Simply collecting data for research is nearly a faux pas in today’s competitive web-market. Analysts are now looking toward the predictive analytics of association discovery in web and data mining, to find Business Intelligence of clustering sub=populations while eliminating errors to keep collected data valid. In the midst this data crunch are fears of lost privacy. Do not fear. Creative innovations are bringing mash-ups to our diversity. Data Analytics Report Useful information, knowledge and finding some unexpected results can “strike it rich” with added creative thinking. Data mining supplies analysts, investors, and traders with customers buying patterns, historical trading rules, even fraudulent behavior for insurance claims. Predictive analytics is used in web mining by analyzing user’s movements from one web content to another. Collecting the data of where a user browses and the content they are seeking can become knowledge if the analyst understands the patterns (Turban & Volonino, 2011). An Association Discovery Algorithm is a tool of data mining where new rules are discovered such that if one item is present then another will also be found. This type of knowledge benefits analyst’s predictability of future probabilities and is very useful to the marketing department, (Ranjan, 2008). A traditional example you...
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...Science is a field full of discovery, and psychology is always looking for answers and studying the mind, and behavior characteristics of individuals in certain settings. Stanley Milgram, an assistant professor of psychology at Yale in 1961, was unlike any other, in regards to wanting answers to questions that swirled in his mind (Slater 31). And just as others before him, and others after, he wanted to conduct his own experiments. What did Milgram want to prove or disprove, and how he went about it, was it right or wrong in the eyes of ethics? He was intrigued by the capacity of obedience to authority even to the point of thwarting one owns morals. Milgram grew up in the World War II era, and his family would listen to the radio on a regular...
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...The School Uniform Debate: Measuring Effectiveness Pete Cade Jr. May 2015 Abstract With the rising numbers of violence in schools coupled with a decline in academic achievement, many stakeholders have begun to condemn the state of public school education. The situation has prompted schools across the country to look for unorthodox approaches to improve schools and the performance of their students. The result has led to a spreading initiative that dictates what students can wear. More than just a dress code policy, school uniforms take into account colors and styles from head to toe. Even with the ongoing debate of being constitutional, the trend continues to be adopted throughout the United States. The argument of limiting self-expression is far outweighed by the benefits of increased academic performance and student safety. This paper will outline the ongoing results from adding uniform policies to schools and analyze the debate of the pros and cons of wearing school uniforms. The School Uniform Debate: Measuring Effectiveness The Initial Movement Traditionally imposed by private and parochial schools, uniform policies are being implemented by U.S. public schools in rising numbers. Proponents note that school uniforms make schools much safer for students, encourage children to focus on learning and most significantly – that it puts a halt to socioeconomic disparities. On the same issue, opponents consider the mandates as an infringement on student’s constitutional...
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...Case Study Outlines Part One: A New Era Founding Performance P f Trading strategy Mutual Fund & Hedge Fund u ua u d edge u d Part Two: When Genius Failed Downturn: 1998 Russian Financial Crisis Chain Reaction In the end: Bailout & Characters Part Three: Enemies are ourselves Risk Measurement Diligence, Ethics and Honesty Dili Ethi dH t Part One: A NEW ERA Founding of LTCM LTCM was founded in 1994 by John Meriwether, the former vice‐ chairman and head of bond trading at Salomon Brothers t di tS l B th LTCM was a speculative hedge fund based in Greenwich, Connecticut that utilized absolute‐ h l d b l return trading strategies combined with high leverage. The fund's operation was designed to have extremely low overhead; trades were conducted through a partnership with Bear Stearns and hi i h B S d client relations were handled by Merrill Lynch. LTCM Partners John Meriwether Former vice chair and head of bond trading at Solomon Brothers; MBA, University of Chicago Leading scholar in finance; Prof. at Harvard Co-author of Black-Scholes model; Prof. at Stanford St f d Vice chairman of the Fed; Prof. at Harvard; Arbitrage g p at Salomon; former Harvard g group ; Prof. Arbitrage group at Salomon; former Harvard Prof. Arbitrage group at Salomon; Ph D MIT Ph.D. Arbitrage group at Salomon; Ph.D. MIT Bond trader B dt d Executive at Salomon Arbitrage group at Salomon; Master in Finance, LSE Robert C. Merton Myron Scholes David W. Mullins Eric Rosenfeld...
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...global media company focused on careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT and the staff of vault © 2008 Vault.com Inc. Table of Contents THE INDUSTRY Chapter 1: What is Investment Banking? 3 The Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Chapter 2: Commercial Banking and Investment Banking 13 Commercial Banking vs. Investment Banking . . . . . . . . . . . . . . . . . . . . ....
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...careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT and the staff of vault © 2008 Vault.com Inc. Table of Contents THE INDUSTRY Chapter 1: What is Investment Banking? 3 The Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Chapter 2: Commercial Banking and Investment Banking 13 Commercial Banking vs. Investment Banking . . . . . . . . . . . . . . . . . . . . . .13 The Buy-Side vs. the...
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...careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT and the staff of vault © 2008 Vault.com Inc. Table of Contents THE INDUSTRY Chapter 1: What is Investment Banking? 3 The Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Chapter 2: Commercial Banking and Investment Banking 13 Commercial Banking vs. Investment Banking . . . . . . . . . . . . . . . . . . . . . .13 The Buy-Side vs. the...
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...the different investment options within CMBS. New material since our last edition includes sections on the various types of AAA CMBS classes, total rate of return swaps, floating rate large loan transactions, and an updated version of the commercial mortgage default study. We hope you find this book useful and welcome comments so that we can improve future editions. FIFTH EDITION 2005 Transforming Real Estate Finance A CMBS Primer Primary Analysts: Howard Esaki Marielle Jan de Beur Masumi Goldman The Primary Analyst(s) identified above certify that the views expressed in this report accurately reflect his/her/their personal views about the subject securities/instruments/issuers, and no part of his/her/their compensation was, is or will be directly or indirectly related to the specific views or recommendations contained herein. This report has been prepared in accordance with our conflict management policy. The policy describes our organizational and administrative arrangements for the avoidance, management and disclosure of conflicts of interest. The policy is available at www.morganstanley.com/institutional/research. Please see additional important disclosures at the end of this report. Morgan Stanley & Co. Incorporated December 16, 2004 450 Transforming Real Estate Finance A CMBS Primer 1 2 INTRODUCTION T O C MBS 1 – 8 History and Structure Rating Agency Methodology MAJOR P ROPERTY T YPES I N...
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...do not appear to be consciously engaged in crusading or muckraking. Simply reporting the facts can be enough to generate concern, anxiety, or panic.[4]:16 Examples include the belief in widespread abduction of children by predatory pedophiles,[5] belief in ritual abuse by satanic cults of women and children,[6] scaremongering of the spread of AIDS,[7] and the War on Drugs.[8] Contents [hide] 1 Use as a social science term 1.1 British vs American 2 Characteristics 3 Examples 3.1 2000s: Human trafficking 3.2 1990s–present: Sex offenders 3.3 1980s–1990s: Satanic ritual abuse 3.4 1980s–1990s: Dungeons and Dragons 3.5 1980s–present: AIDS 3.6 1970s–present: Video games and violence 3.7 1970s–present: Crime increase 3.8 1970s–present: War on drugs 4 Criticism 5 Other 6 See also 7 References 8 Further reading 9 External links Use as a social science term[edit] Marshall McLuhan gave the term academic treatment in his book Understanding Media, written in 1964.[9] According to Stanley Cohen, author of a sociological study about youth culture and media called Folk Devils and Moral Panics (1972),[10] a moral panic occurs when "...[a] condition, episode, person or group of persons emerges to become defined as a threat to societal values and interests".[4] Those who start the panic when they fear a threat to prevailing social or cultural values are known by researchers as moral entrepreneurs, while people who supposedly threaten the social order have been described...
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...V O L U M E 1 6 | N U M B E R 4 | FALL 2004 Journal of APPLIED CORPORATE FINANCE A MO RG A N S TA N L E Y P U B L I C AT I O N In This Issue: Disclosure Beyond Financial Reporting—An Integrated Approach to Corporate Disclosure Amy Hutton, Dartmouth College Making Financial Goals and Reporting Policies Serve Corporate Strategy: The Case of Progressive Insurance An Interview with Tom King, Progressive Insurance Identifying and Attracting the “Right” Investors: Evidence on the Behavior of Institutional Investors Brian Bushee, University of Pennsylvania Roundtable on Corporate Disclosure Panelists: John Graham, Duke University; Trevor Harris, Morgan Stanley; Amy Hutton, Dartmouth College; Charles Kantor, Neuberger Berman; Tom King, Progressive Insurance; Rick Passov, Pfizer; Erik Sirri, Babson College; and Joe Willett, (formerly) Merrill Lynch. Moderated by Don Chew. Where M&A Pays and Where It Strays: A Survey of the Research Robert Bruner, University of Virginia Pathways to Success in M&A Mahmoud Mamdani and David Noah, Morgan Stanley In Defense of Incentive Compensation: Its Effect on Corporate Acquisition Policy Sudip Datta and Mai Iskandar-Datta, Wayne State Reappearing Dividends Brandon Julio and David Ikenberry, University of Illinois Making Capitalism Work for Everyone Raghuram Rajan and Luigi Zingales, University of Chicago University, and Kartik Raman, Bentley College Reappearing Dividends by Brandon...
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...Property Crimes Case Study # 49 Applied Managerial Statistics: GM533 Virginia Davis, Lauren Holder, Stanley Philip and Andrea Watson Executive Summary The Property Crimes study examined data provided by various U.S. government agencies on crime rates in the fifty U.S. states. Other data studied were eight possible contributing factors such as per capita income, high school dropout rate, average precipitation, population density, and urbanization. Analysis revealed, of the eight possible contributing factors, three of those variables (urbanization rate, high school dropout rate and population density) affected property crime rates. Of the given data, the model accounted for approximately 66% of the contributing factors associated with property crimes. Statistically, the data is generally considered to be strong, however, to account for the remaining 34% of factors contributing to property crime rates in the U.S., further data and evaluation of other possible factors would be necessary. Introduction Property crime, as defined by the U.S. Department of Justice (2011), is the taking of money or property without force or threat to victims and is inclusive of the following offenses: burglary; automotive theft, larceny and arson. An exception to the rule is arson, although it does not involve the taking of property, it does use force against victims. Additionally, crime is defined as an act of violence that is carried out by one or more individuals and can be toward another...
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...assumptions of the cultural acceptance of Mickey Mouse into Japan and France. Tokyo Disneyland emerged as the most profitable theme park, but with TWDC having no stake in the company; and Disneyland Paris, backed heavily by TWDC, had to be restructured only after two years of opening. Domestically, theme park safety had been compromised, all in the name of profit. An embittered declaration for Eisner’s resignation came in 2003 by ousted board member Roy E. Disney, nephew of Walt and last remaining active family member at TWDC, and his trusted friend, Stanley Gold, who resigned the board. Ultimately, Roy Disney helped lead a Disney shareholder revolt that arguably contributed to Eisner’s departure from the company with nearly 45% of shareholders disapproval of Eisner. Table of Contents Introduction 4 Globalization 5 Tokyo Disneyland 5 Disneyland Paris (formerly knownas Euro Disney) 6 Business Power 7 Business Ethics 9 Safety vs. the Bottom Line 11 Corporate Governance 12 Conclusion 13 References 14 Introduction...
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...entrepreneurial marketing and commercialisation processes in innovation based firms. Abstract Research in Entrepreneurial marketing is about 30 years old. During this period research has followed many trajectories. Two important but divergent routes are small business marketing versus entrepreneurial marketing mirroring the discourse of small businesses versus entrepreneurial firms. Today small business marketing and entrepreneurial marketing are regarded as separate research fields, however related. EM-researches have been very openminded towards different approaches in methodology, especially compared to research within mainstream marketing in the US. During this rather long period of time advances in other disciplines have been beneficial for our own research. One such example is the development of Effectuation theory allowing us to understand entrepreneurial decision-making and consequently, important aspects of entrepreneurial marketing behaviour. Many of the research questions,...
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...first, we are paying our gratitude to Almighty “Allah” because without him, we wouldn’t be able to prepare this term paper. We would like to express our respect and heartiest gratitude to our course instructor of BUS 361Md. K.I.M.MANZUR-E-MAWLA, Adjunct Faculty, Department Of Bachelor of Business Administration, East West University. Without him, preparing this report would be simply impossible for us. We also like to thank our seniors and classmates to giving advices and reliable information. We are paying our hearties appreciation to all of these people for their great co-operation, which will be always remembered by us. Letter of transmittal 22 April, 2010 K.I.M.MANZUR-E-MAWLA Adjunct Faculty Department of Business Administration East West University Dear Sir For the purpose of understanding the company law and corporate personality in the real life scenario and what are the cases that influence the company law. Therefore we have prepared a report on Company: A Corporate Personality. It is our honor to transmit to you the report and grateful to you for giving us the chance to prepare this report being a part of course works Legal Environment of Business (BUS 361). In spite of various limitations, we did our best to put rational analysis in this report through our collective effort. We hope that you will find some...
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