...EC 545: Financial Economics Arindam Bandopadhyaya – Spring 2013 Meeting Notes - Set 5 – Stock Pricing Fundamentals and Assigned Problems from Chapter 8 in Readings Package Stock price as a sum of discounted value of all dividend payments received by the stockholder until infinity Price of a preferred stock that pays constant dividend Price of a stock that pays a dividend that grows at a constant rate The required rate of return of a stock is the sum of dividend yield and capital gains yield; for a stock whose dividend grows at a constant rate the dividend growth rate is also the capital gains yield How to estimate the dividend growth; product of the retention ratio and the ROE Example: Earnings of a corporation this year is $10 million. Retention ratio is 75% and the historical ROE is 12%. The number of shares outstanding is 1.25 million and the current price of the stock is $30. What is the stock’s required rate of return? Example – Non-constant dividend growth: A company just announced a dividend of $1.20 per share. Dividends are expected to grow annually at 3%, 4% and 5%, respectively, for the next 3 years. Then, the dividends are expected to grow at a constant rate of 6%, forever. If the stock’s required rate of return is 12% what is the current price of the stock? An alternative to the discounted dividend model The company is expected to continue to do what it does right now without any growth opportunities. In this case it earns its current earnings per share...
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...1. The Little Prince - Antoine De Saint Exupery 2. Jonathan Livingston Seagull - Richard Bach 3. Illusions - Richard Bach 4. Bridge Across Forever - Richard Bach 5. The Alchemist - Paulo Coelho 6. 100 years of solitude - Gabriel Garcia Marquez 7. Love in the time of cholera - Gabriel Garcia Marquez 8. Catcher in the rye - J.D. Salinger 9. To kill a mocking bird - Harper Lee 10. The bridges of madison county - Robert James Waller 11. Catch 22 - Joseph Heller 12. The Love Story - Erich Segal 13. The Fountainhead - Ayn Rand 14. Atlas Shrugged - Ayn Rand 15. We the people - Ayn Rand 16. Nana - Emile Zola 17. A Farewell to arms - Ernest Hemingway 18. Across the river and into the trees - Ernest Hemingway 19. The old man and the sea - Ernest Hemingway 20. Jeeves and wooster( this is a series consisting of about 50 books approx.) - PG Wodehouse (Russian authors) 21. Anna karenina - Leo Tolstoy 22. War and peace - Leo Tolstoy 23. A collection of Short stories - Maxim Gorky 24. Notes from the underground - Fyodor Dostoevsky 25. Crime and Punishment -Fyodor Dostoevsky 26. The brothers karamazov - Fyodor Dostoevsky 27. The Double - Fyodor Dostoevsky 28. The Devils - Fyodor Dostoevsky 29. The Idiot - Fyodor Dostoevsky 30. Short Stories - Anton Chekhov 31. Grapes of wrath - John Steinbeck 32. East of Eden -John Steinbeck 33. Nineteen Eighty four - George Orwell 34. Animal Farm - George Orwell 35. Zen and the art of motorcycle maintenance - Robert...
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...Session 3 Case RASOI: Products of India Managers occupying junior-to-middle level positions in large organizations are often called upon to resolve disputes. Some of these are disagreements between lower-level supervisors and employees; some are disputes with suppliers or distributors; others, like the dispute in this case, are between the organization and a customer. Every customer has a value to an organization, and every customer has a price to that organization. Customers are, of course, the lifeblood and source of revenue to a business, but not all customers are worth saving. Some, in fact, may be more trouble and expense to maintain than they’re worth. Dealing with customers – or with anyone else who is in disagreement with your organization – requires patience, tact, and a certain measure of skill. A variety of response modes is open to the manager who faces an angry customer, along with a range of options in dealing with the case. 28th December 2013 312 Bailey Road Patna, India Office of the CEO Rasoi: Products of India Dear Sir: Enclosed you will find one “GrillMaster” indoor smokeless grill. I am sending this marvel of technology to you directly because I’m so damn mad I can barely see straight. As you will observe, the grill doesn’t work. The cooking element somehow malfunctioned, the control mechanism and cord overheated, and the resulting electrical surge nearly burned the house down. While trying to unplug the grill, I managed to burn my...
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...|NAME |CMA. ARINDAM BANERJEE | |QUALIFICATION |MCOM AICWA | |RANK |Faculty Member, United Institute of Management, Allahabad | |Email |arind2001@yahoo.com | |Mobile |09794108735 | | | | |Communication Address |C/O Mr. Salil Chakroborty, | | |198 A, Sarat Bose Road, | | |Kolkata – 700029. | | | | ROLE OF COST AND MANAGEMENT ACCOUNTANTS IN IFRS REGIME CMA. Arindam Banerjee Abstract IFRS has today become a universal financial reporting...
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...PROJECT UDAAN Beldih village Team Members – Group 1 – BM-A -2013-15 Abhave Sharma (B13001) Ajay M (B13004) Akash Shukla (B13005) Akriti Gupta (B13006) Arindam Sarma (B13015) Girish Deshpande (B13025) Paritosh Pant (B13037) Punit Gupta (B13042) Sneha Singh (B13054) Vatsal Agrawal (B13060) Project Udaan Introduction Education forms the building block of an individual’s life. It imparts him the knowledge of right and wrong and opens the door of opportunities for him but unfortunately the present state of education in our country renders these causes unattainable. Though the State has made efforts in this direction by passing the law of Right to Education in 2009 emphasising free and compulsory education for children between 6 and 14 years of age under Article 21a of the Constitution, but the situation at ground still remains abysmally bad. A survey titled “Learning Block” done by a non-government organisation CRY- Child Relief and You, has revealed that primary and upper-primary level schools in the country still don’t have basic necessities. The study revealed that more than 75% of schools lacked furniture and fixtures like tables, chairs and benches and that 41% of schools taught students in the open. About 44% of the schools don’t have electricity and in Eastern India 74% of the schools didn’t have electricity. Clearly, it’s impossible for us to imagine the plight of these students. Imagine a small room with no electricity, no water, no toilet, no black-board...
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...1/ This problem is about determining the amount of monthly payment given the Present value, APR, and number of payments. Therefore, the only equation that I have to rely on is: And the result that I obtain from this equation is as follow: |Scenario: |Monthly Payment | |i. |$ 456.22 | |ii. |$ 478.06 | |iii. |$ 434.99 | |iv. |$ 405.53 | |v. |$ 481.56 | |vi. |$ 394.50 | |vii. |$ 549.29 | But while doing it on Excel, I think it’s easier to separate the formula into two parts: ➢ First: I calculate the PVIFA separately. ➢ Second: Divided the Present Value by the PVIFA just calculated Summary and Interpretation: Back to the problem, as the numbers show; the lower the APR, the lower the monthly payment will be. It’s because that you would not have to pay as much interest. Other Scenarios shows that the lower the present value (scenarios iv. and v.) the lower the monthly payment. The reason for that is; with the fixed number of payments, the less amount of debt that you have, the less you have to in each payment. Finally when the number of payments changes, it effects the amount that you’d have to pay in each payment as well. For example, if you decide to pay your debt in a longer period of time, obviously...
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...Review of STP & Marketing Mix On Under the guidance of DR. reeti agarwal Submitted by: Krishnendu Karmakar (JL13FS23) | Arindam Banerjee(JL13FS15) | Paritosh Kumar Singh (JL13FS35) | Rajneesh Kumar Sharma (JL13FS44) | ACKNOWLEDGEMENT Report is an excellent tool for learning and exploration. No classroom routine can substitute which is possible while working in real situations. Application of theoretical knowledge to practical situations is the bonanzas of this report. Without a proper combination of inspection and perspiration, it‘s not easy to achieve anything. There is always a sense of gratitude, which we express to others for the help and the needy services they render during the different phases of our lives. We too would like to do it as we really wish to express our gratitude toward all those who have been helpful to us directly or indirectly during the development of this project. We would like to thank Dr. Reeti Agarwal who was always there to help and guide us when we needed help. Their perceptive criticism kept us working to make this project more full proof. We are thankful to her for her encouraging and valuable support. Working under her was an extremely knowledgeable and enriching experience for us. We are very thankful to her for all the value addition and enhancement done to us. No words can adequately express our overriding debt of gratitude to our parents whose support helps us in all the...
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...ORGANISATIONAL BEHAVIOUR CHAPTER 1 1) ______________________ is the outcome of certain external and internal forces a) Human growth b) Human behavior c) Biological progress d) None of these 2) In the S O B model for human actions, S stands for a) Stimulus b) Situations c) Style d) Status 3) According to B J Kolasa, ____________ are processed at our _______________ and converted to appropriate responses a) Food products, stomach b) Acids, intestines c) Stimuli, brain d) None of the above 4) Basis of human behavior is motivation. a) True b) False 5) The _____________________________ defines heredity as ‘the process by which characteristics are given from a parent to a child through the genes.’ a) Oxford Dictionary b) Harvard texts c) Cambridge International Dictionary d) Webster’s Dictionary CHAPTER 2 6) _______________________ is defined as an interdisciplinary behavioral science, studying phenomenon related to dynamics of an organization and their various human science. a) Human psychology b) Organisation behavior c) Human relations d) Organisation dynamics 7) An organization as a unit consists of social, technical and economic sub-units which co-ordinate human and material resources to achieve its goals. a) Yes b) No 8) _______________________ is another term used to denote Organisation behavior. a) Behavior science b) Circumstantial response c) Human relations d) Social responsibility 9) “Human relations...
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...Executive Proposal: Security Testing Software for Advanced Research CMIT 321 7986 Ethical Hacking Executive Proposal: Security Testing Software for Advanced Research Information Technology is growing with time and so are the cons associated with it. Security and privacy has become the major concerns for businesses in this IT era. These applications hosted on the web generate different benefits like easy accessibility, fast communication but also create many issues like Denial of Service (DoS), Cross Site Scripting (XSS), Authentication Bypass, etc. These attacks can cause millions in loss for the organization. Therefore, an effective and efficient security software solutions are required so that these attacks can be prevented well in advanced. In this report, a solution is proposed for Advanced Research Company so that it can manage against potential DOS and DDOS attacks. With the rising competition and being in limelight, the company has painted itself a target to its competitors. There have been some scenarios in the past when an attempt was made to compromise the information of the company. GoldenEye software is used for describing the mentioned case. The software will help to identify the DOS attacks. Brief overview of DOS and DDOS attacks Denial of Service is an attack which disrupts the normal functionality of an Information system. The source of the attack may be local or global. Its main aim is the disruption of services so that the...
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...Marketing. Everything. A sneak-peek into the big bad world of marketing brought to you by the coolest Interest Group on Campus Who we are and what we do Who we are and what we do Who we are and what we do Who we are and what we do Who we are and what we do mPower (stylized as \m/Power) is the marketing interest group of IIM Kozhikode. We, at \m/Power organize industry interactions with eminent marketers via workshops and seminars, conduct events like quizzes, extempore, debates and Group Discussions. The marquee events at \m/Power include the KMAC (Kozhikode Marketing Acumen Certificate), arguably your first CV point containing the word „marketing‟. We also prepare you for the all important summer internships by means of experience sharing, briefing about the companies, and finally by organizing mock GDs and interviews for the entire batch. You can connect with us via our Facebook page (facebook.com/mPowerIIMK) and/or our blog (mpower.iimk.ac.in). You can also write to us at mpower@iimk.ac.in. Some questions to be covered... Some questions to be covered... Some questions to be covered... Some questions to be covered... Some questions to be covered... \m/arketing, what is it? People say marketing = selling. Is it? Of all the things, what all can be marketed? Who are the gentlemen who market anyway? Err… what‟s this STP then? Right…so all gentlemen market the same way? \m/arketing, what isisisit? \m/arketing, what it?it? \m/arketing, what isisit? \m/arketing...
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...BIBLIOGRAPHIC INFORMATION Title Source Author 1 Author 2 Author 3 Publication/Conference Edition Document Type CPI Primary Subject CPI Secondary Subject Geographic Terms How Local Companies Keep Multinationals at Bay Harvard Business Review Online Bhattacharya, Arindam K. Michael, David C. NA Harvard Business Review, March 2008 NA Article Economics International Trade; ; ; Malaysia; Others Abstract To win in the world’s fastest-growing markets, transnational giants have to compete with increasingly sophisticated homegrown champions. It isn’t easy. Centre for Policy Initiatives (CPI) Pusat Initiatif Polisi http://www.cpiasia.org How Local Companies Keep Multinationals at Bay http://harvardbusinessonline.hbsp.harvard.edu.neptune.wou.edu.my/hb... ADVERTISEMENT Arindam K. Bhattacharya (bhattacharya.arindam@bcg.com) is a Delhi-based partner and managing director, and David C. Michael (michael.david@bcg.com) is a Beijing-based senior partner and managing director, of the Boston Consulting Group. FEATURE How Local Companies Keep Multinationals at Bay To win in the world’s fastest-growing markets, transnational giants have to compete with increasingly sophisticated homegrown champions. It isn’t easy. by Arindam K. Bhattacharya and David C. Michael Since the late 1970s, governments on every continent have allowed the winds of global competition to blow through their economies. As policy makers have lowered tariff barriers and permitted foreign investments, multinational...
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...[pic] CONVOCATION – 27TH JUNE 2015 Convocation Protocol GCR – 1 will be used by male faculty, the Chief Guest and the Guest of Honour for putting on convocation gowns. GCR - 2 will be used by lady graduating students and lady faculty for putting on convocation gowns. GCR – 3 will be used by graduating male students for putting on convocation gowns. Full length mirrors are provided in washrooms between GCRs 3 & 4. Roll call for graduating students and issue of gowns will commence in GCR 2 & 3 at 13:45 hrs. Issue of gowns will close at 14:15 hrs. Late comers will not be included in the Convocation Procession and will not receive their certificates. Graduands will remain in GCR 2 & 3 till the formation of the Convocation Procession. Convocation procession will form between 14:30 & 14:50 and will start at 14:50 from the corridor in front of GCR 4. Procession route and composition is described below: Down the corridor in front of Placement Office, FoodScapes, etc., and will turn right in front of the Exam Cell into the connecting passage. From the connecting passage the procession will turn left onto the walkway. Dignitaries and faculty will ascend the stage while the graduating students will move to their respective seats and remain standing. Background music commences at 14:45 hrs. Prof. Radhika Ramesh: “Kindly keep your mobile phones in silent mode.” Prof. Radhika Ramesh: “The convocation procession is entering the venue. May I request the audience to rise? Please keep standing...
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...INDIAN HOTEL INDUSTRY RESEARCH REPORT 2013 Submitted by: 1) Arindam Bagh 2) Arindam Das 3) Pavan Kumar Submitted by: 4) Arindam Bagh 5) Arindam Das 6) Pavan Kumar Table of Contents 1. Executive Summary 5 2. Industry Overview 6 2.1. Key Components of Hospitality Industry 6 2.2. Global overview 6 2.3. Indian overview 7 2.4. Market Structure 10 2.5. Industry metrics 12 3. Challenges faced in the Sector 14 3.1. Global economic uncertainty 14 3.2. Seasonality of demand 14 3.3. Oversupply 15 3.4. High Employee turnover 15 3.5. Lack of MICE related Infrastructure 16 3.6. Inadequate supply of quality talent 16 3.7. Low security 17 3.8. High cost of developing property 17 3.9. Poor Infrastructure 18 3.10. Difficult project financing 18 4. Growth Drivers 18 4.1. International tourist arrivals 18 4.2. MICE Destination (Meetings, Incentives, Conferencing, Exhibitions) 19 4.3. Government spending to boost growth 19 4.4. Improving economic environment 20 4.5. Increasing spending power 21 4.6. Government Support (Non-Monetory) 21 4.7. Offers from Airline Industry 24 5. Emerging Trends in the sector 25 5.1. Premium Hotel’s profitability to hit lows 25 5.2. Increasing revenues from F&B Segment 26 5.3. Development of niche tourism offerings 26 5.4. Growing trend towards service apartments 27 5.5. Growing demand for budget segment 27 5.6. Increasing interest of international operators 28 5...
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...2nd Annual India Commercial Vehicle Summit 2013 4th - 5th April, [Westin Hotel, Koregoan Park]Pune, India Company Name Name Job Title A Raymond Fasteners India Private Limited A Raymond Fasteners India Private Limited A Raymond Fasteners India Private Limited Alicon Castalloy Limited Allied Nippon Limited Allied Nippon Limited Allied Nippon Limited Alpha Drivers R and D Center Alpha Drivers R and D Center AMW Motors Limited AMW Motors Limited AMW Motors Limited AMW Motors Limited AMW Motors Limited Andhra Pradesh State Road Transport Corporation Andhra Pradesh State Road Transport Corporation Andhra Pradesh State Road Transport Corporation Anhui Jianghuai Automobile Corporation Limited (JAC Motors) Anhui Jianghuai Automobile Corporation Limited (JAC Motors) Anhui Jianghuai Automobile Corporation Limited (JAC Motors) Anhui Jianghuai Automobile Corporation Limited (JAC Motors) Arai Arai Ashok Leyland Limited Ashok Leyland Limited Manish PADHARIA Pankaj GAUTAM Shibu APPUNNI Shekhar DRAVID Anand PATIL Devender KUMAR N C AGARWAL David JACKSON Suresh WILLIAMS Anurag KHARGONKAR Dhananjay KALE Jitendra JASANI Shamprasad PONKSHE Vivek SONAR K Chandra SEKHAR K Venkat RAO S Ravindra BABU Henry XIA Jack ZHANG Jina KANG Jina KANG D J KULKARNI M R SARAF Hitesh SHARMA Nitin KARULKAR Managing Director Area Manager Assistant Manager – Business Development Vice President - Business Development Assistant General Manager - Marketing General Manager (Marketing) President and Chief Executive...
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...Hedge Funds Instructor: Dr. F. Beer By: Vishal Pahuja | Angel Cardoz | Contents Introduction by Vishal Pahuja 3 History by Vishal Pahuja 4 Types of Hedge Funds by Vishal Pahuja 4 Key Characteristics of a Hedge Funds by Vishal Pahuja 5 Size and Market Statistics by Angel Cardoz 5 What is the Cost? by Angel Cardoz 6 Cost to manage 6 Cost to Economy 7 Risks and Returns by Vishal Pahuja 7 Hedge Fund Structure by Vishal Pahuja 8 A Success Story by Vishal Pahuja 9 Peer Evaluation 9 Pay for Hedge Fund Managers 9 A Failure Story by Angel Cardoz 10 Long-Term Capital Management 10 The Rise 10 The fall 10 The future of hedge funds by Angel Cardoz 11 Regulation 11 Markets 11 Bibliography by Vishal Pahuja 11 Quote Basically, I look at the trading screens all day and go with my gut. Hedge Funds Introduction S ince the early 1990s, hedge funds have become an increasingly popular asset class. The amount invested globally in hedge funds rose from approximately $50 billion in 1990 to approximately $1 trillion by the end of 2004 And because these funds characteristically use substantial leverage, they play a far more important role in the global securities markets than the size of their net assets indicates. Market makers on the floor of the NYSE have estimated that during 2004, trades by hedge funds often accounted for more than half of the total daily number of shares changing hands. Moreover, investments in hedge funds have become...
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