Achieving Fit For Corporate Social Responsibility

Achieving Fit for Corporate Social Responsibility
Achieving Fit for Corporate Social Responsibility Evaluating the measure of corporate social responsibility (CSR) is as much an attempt to ascertain
ethical conduct of interactions with stakeholders, as it is a management tool of to limit liability. A research summary of Corporate Responsibility Best
Practices, notes that 72% of NYSE Euronext traded firms surveyed have a formal corporate responsibility programs in place (Corporate
Responsibility Officer Association, 2011, p. 6). Just 20% of the surveyed firms did not view corporate responsibility as a priority, while many firms
believed that ethical corporate responsibility was ingrained throughout their culture and functions. Realizing added value from CSR is best achieved by
fitting actions with motivations to concern both internal and external stakeholders. Ronald Hill and Karen Becker–Olsen find that CSR projects deliver
benefits to firms if there is a similarity between the corporate mission and the social initiative, perceived motivations aimed at the good, and proactive
timing (Hill & Becker–Olsen, 2005). Poor fitting CSR initiatives are those the public perceives as implying that the firm bears fault and is reactive.
Press releases by British Petroleum regarding their "commitment to the Gulf" demonstrate both a reactive and poorly fitted motivation initiative that is
unlikely to merit praise from the community harmed (BP p.l.c., 2012). Additionally, measuring the success of a CSR initiative that is reactive
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Case Analysis: Unilever And Kraft Heinz
"AOL and Time Warner, Sanofi
–Aventis and Genzyme Corp, and Nasdaq OMX/Intercontinental Exchange and NYSE Euronext". Do these
corporations ring a bell? They are, in order, the top three most hostile takeovers of all time. The question that recently arose in the corporate
governance industry was whether Unilever and Kraft Heinz would be added to the list of hostile takeovers. With the approval of their key investors,
Warren Buffet and Jorge Lemann, the in 2015 formed merger company Kraft Heinz offered Unilever 143 billion US dollar as an attempt to seal what
could have been the second–largest corporate deal in history. Unilever and Kraft Heinz combined would create a food and beverage giant worth $84.8
billion, a close second to Nestle, which is worth $91.2 billion.... Show more content on Helpwriting.net ...
Kraft Heinz has a month to make a firm and final bid before the company is obligated to surrender and wait six months before being allowed to
attempt a new takeover. Due to this rule drafted in U.K. takeover rules and the initial decline from Unilever, it had every sign of becoming a hostile
takeover. If Kraft Heinz had not withdrawn their bid, would this have turned into a hostile takeover, would Unilever be protected, in what way and
should protection even be necessary? This essay will focus on different methods of somewhat rather controversial strategies of protecting your
company from hostile takeovers and whether Unilever is already protected from hostile takeovers and if protection is

Monitoring System Sustainable Enterprise Sustainability
Sustainable Enterprise
LB 5203
Sustainable enterprise
LB5203
Monitoring System Sustainable Enterprise Sustainability The Royal Dutch Shell "SHELL"
Lecturer: Dr. Ian Kirkwood
Student: Saroj Maharjan
Student ID: 12891916
Due date: 17th of September 2014 Introduction
This article describes the relevant monitoring system to monitor the sustainability of the business. It is very important to all businesses to regularly
measure their sustainability comes from the people, planet and profit perspective, making operations more efficient. Business monitoring system where
medical monitoring systems do they use , diagnose disorders caused by the issue of sustainability as doctors work. The difference is that medical
monitoring system to monitor the health of patients, while the operation of the business monitoring system monitoring business activities. Appropriate
monitoring services can help make the right decisions at the right time in order hand it helps to reduce risk. Every business will have certain
obligations but also on the natural persons associated with it. On the economic prospective it is equally important. Or the three pillars of the triple
bottom line of people / society, Earth / Environmental and profit / economic report briefly discussed.
The monitoring helps and guides us or any enterprise to get in a rite direction and be on a rite track such a way that it can run for a longer period of
time with adding profit and benefits with it or in other

Corporate Social Responsibility And Csr
Abstract Although many research about corporate social responsibility (CSR) have been conducted, there are still some field to study more. The
purpose of this research paper is to find out whether Business–to–Business companies implement CSR actively. According to the numerous researches
shows that correlation between Business–to–Consumer and CSR are strongly related due to variety reasons such as brand image and brand equity.
Thus, we thought that B2B business is not actively doing because B2B companies are not directly related to consumer. To understand and enhance
this research paper, we cover basic concept and indicators of CSR. In addition, we employs "2014 Global CSR Reptrack 100" report released by
reputation institute to disclose the result.
Key words
Corporate Social Responsibility (CSR), Business–to–Business, Reputation Institute.
Introduction
Corporate Social Responsibility has been popular strategy among companies. Numerous companies release CSR report and variety of studies have
been conducted on different aspect of CSR. Although many researches have been conducted, there are some controversy about concept and
effectiveness of CSR. According to the recent study, CSR reports are significantly related to short and long–term measurement of financial performance
(Orhan Akisik Graham Gal, 2014) and M. Tsoutsoura's date (Tsoutsoura, 2004) indicates that the sings of the relation between CSR and financial
performance were positive. In addition, CSR influences

Dior : A New Era Of Fashion And Beauty
OVERVIEW
History
Christian Dior was founded on December 16, 1946 in Paris, France, by a couturier bearing the same name and backed by French fabric expert,
Marcel Boussac. On February 12, 1947, Christian Dior presented his first collection to the world creating a new era of fashion and beauty. This
collection was beyond expectations and amassed a following ranging from European Elite to Hollywood starlets ("Story of Dior"). In 1948, Dior
established a luxury ready–to–wear house in New York City, the first of its kind, beginning the company's international expansion. By 1949, Dior
made up 75 percent of Paris fashion exports and five percent of all French export revenues ("Story of Dior"). During the 1950s, General Manager
Jacques ... Show more content on Helpwriting.net ...
Dior generates revenues in five major geographic regions including: France, Europe, United States, Japan, and Asia (excluding Japan). It also
manufacture products in France and, under licensing, in the United States, Canada, and Japan. The company operates through five business groups:
Christian Dior Couture, Wines & Spirits, Fashion & Leather Goods, Perfumes, Cosmetics, and Watches & Jewelry ("Story of Dior"). Dior currently
has 658 fully held companies, fourteen proportional held companies, 24 equity held companies, and over 117,000 employees ("Story of Dior"). It also
have a direct presence in 73 countries throughout the world, which includes 29 European countries. The company's products are sold through
wholesale, retail distributors, company owned stores, or franchised outlets ("Christian Dior").
GROWTH POTENTIAL
Potential Growth Analysis
During my research of Christian Dior S. A. I was not able to find a vast amount of information on the company's financials outside of their presented
financial statements and the information presented on Mergent Online Database. During my search, I looked through ProQuest, The Wall Street
Journal, Forbes, and New York Times without much avail. So, I projected Dior 's growth, as shown in Figures 1 and 2, through their profits and assets
taken from the company's financials found in Appendix 1. According to my findings, in the next four years the company will have negative

A Brief Note On Financial Derivatives
Financial Derivatives Introduction Derivatives are financial instruments whose values are derived from the values of other, more basic, entities, known
as the underlying assets. For example, the value of a stock option depends on the price of the relevant stock. Derivatives Markets In the financial
markets derivatives are traded on: п‚—Stocks п‚—Stock indices п‚—Exchange rates п‚—Interest rates п‚—Bonds п‚—Credit risk п‚—Commodities
(such as electricity, wheat, oil) [4] Derivatives are traded in two different ways – they are traded either on an exchange or over–the–counter (OTC). The
advantage of trading derivatives on an exchange is that the contracts are standardized by the exchange and credit risk is eliminated. Open–outcry
system was used... Show more content on Helpwriting.net ...
Answer: Simultaneously buying 100 shares in NY and selling them in London leads to a risk–free profit of: 100 x [($2.03 x100) – $200] = $300
(ignoring transaction costs) Can this arbitrage opportunity last for long? Futures A future is an exchange–traded contract between two parties and the
clearinghouse of a futures exchange to buy or sell a commodity whose quantity and quality are determined in the contract at a specified price on a
certain date in the future. [1] When there are alternatives about what is delivered, where it is delivered, and when it is delivered, the party with the
short position chooses. [4] The clearinghouse responsibility is to ensure for the transaction to be completed. Futures markets are organized so that the
risk of default is completely eliminated. This is possible by trading futures contracts on an organized exchange with a clearinghouse which steps in
between a buyer and a seller – this means that every trader in the futures markets has obligations only to the clearinghouse. [1] The party that has
agreed to buy the underlying asset has what is termed a long position The party that

Principles of Banking
Principles Of Banking & Finance Chapter 2 : Financial Systems Economic function: Channeling funds from units who have saved surplus funds to
units who have a shortage of funds. Lenders–Savers : Units who have saved can lend funds. Borrower–Spenders : Units with a shortage of funds must
borrow funds to finance their spending. Channelling of funds are important because, – Lender–savers have excess of available funds but do not
frequently have profitable investment opportunities, while borrower–spenders have investment opportunities but lack of funds. – Borrower–spenders
may want to invest in excess of their current income or to adjust the composition of their wealth. Direct Finance : Borrower–Spenders... Show more
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Mid 1980s – Texas real estate and land prices crash, determined the default of many borrowers with mortgage loans issued by S&Ls, thus many
S&Ls failed at end of 1980s. 1989 – New legislation, FIRREA is adopted. (Financial Institutions Reform, Recovery & Enforcement Act) 3.
Credit Unions – Non–profit institutions mutually organised and owned by depositors. – Satisfy the depository and lending needs of their members
belonging to a particular group. – Deposits used to provide loans to other members and earnings from these loans are used to pay higher rates to
member depositor. – Most numerous among depositary institutions (8535 in 2006 according to Credit Union National Association) Contractual Savings
Institutions – Acquire funds at periodic intervals on a contractual basis. – Liquidity of assets is less important as they can predict with reasonable
accuracy the future payments due to their customers. – Invest their funds in long–term securities. (Corporate Bonds, Stocks and Mortgages) 1.
Insurance Companies – Protect individuals and firms (aka. policy holders) from adverse events. – Receive premiums from policy holders and

The Essential Component of Corporate Governance
Center for International Private Enterprise
ECONOMICREFORM
Feature ServiceВ®
January 12, 2006
Business Ethics: The Essential Component of Corporate Governance
John D. Sullivan, Ph.D.
Executive Director, CIPE
Aleksandr Shkolnikov,
Program Officer, Global, CIPE
Given п¬Ѓnancial scandals and the resulting new mandates on business, п¬Ѓrms п¬Ѓnd themselves pressed to develop strong codes of ethics to guide
the behavior of board members, managers, and employees. Although the concern with ethics has always been a part of doing business, business
leaders today are beginning to think about ethics as a set of principles and guides of behavior rather than a set of rigid rules. In this sense, business ethics
is not only an attempt to set a standard by ... Show more content on Helpwriting.net ...
2. The Rights of Shareholders and Key Ownership Functions: The corporate governance framework should protect and facilitate the exercise of
shareholders' rights. 3. The Equitable Treatment of Shareholders: The corporate governance framework should ensure the equitable treatment of all
shareholders, including minority and foreign shareholders. All shareholders should have the opportunity to obtain eп¬Ђective redress for violation of
their rights. 4. The Role of Stakeholders in Corporate Governance: The corporate governance framework should recognise the rights of stakeholders
established by law or through mutual agreements and encourage active co–operation between corporations and stakeholders in creating wealth, jobs,
and the sustainability of п¬Ѓnancially sound enterprises. 5. Disclosure and Transparency: The corporate governance framework should ensure that
timely and accurate disclosure is made on all material matters regarding the corporation, including the п¬Ѓnancial situation, performance, ownership,
and governance of the company. 6. The Responsibilities of the Board: The corporate governance framework should ensure the strategic guidance of the
company, the eп¬Ђective monitoring of management by the board, and the board's accountability to the company and the shareholders. For more
information see

Case Study Of MCX IPO
MCX IPO MCX – About the company Multi Commodity Exchange of India Ltd (MCX), the India based electronic commodity futures exchange was
incorporated in 2003. MCX provides online trading services, clearing and settlement operations for commodity futures across India. There are five
electronic multi–commodity national exchanges in India including MCX, NCDEX, NMCE, ICEX and ACE and these accounted for 99.5% of the
turnover of commodity futures contracts in India. MCX is the largest among these and have above 80% of the market share of the Indian commodity
futures exchange industry. MCX allows trading in more than 50 commodities across sectors like bullion, metals, energy, weather, and various
agricultural products. MCX is the world's largest exchange in Silver, the second largest in Gold, Copper and Natural Gas and the third largest in Crude
Oil futures, with respect to the number of futures contracts traded. As of December 31, 2010, MCX has more than 2,107 registered members operating
through over 180,000 trader work stations... Show more content on Helpwriting.net ...
The second thing is of course that there are some comparable in the international space for which the growth is not comparable. Therefore, the way
investment bankers have gone around is by meeting the institutional investors both locally and globally and discuss this entire investment thesis
with them and based on the feedback the price band was decided. But more particularly the Indian growth was kept in mind and the investor
feedback was kept in mind before deciding the price band. Given that the company is looking at a valuation of over Rs 5,200 crore (~$1.05 billion) at
the upper end of the price band, it is seeking a PE multiple of around 18 times its trailing net profit on an annualised basis. For the nine months ended
December 31, 2011 MCX had total income of Rs 474 crore and net profit of Rs 220

Ethics : Ethics And The Law
1.ETHICS
Ethics refer to "the principles, standard and norms of conducts governing individual and firm behavior" (Peng & Meyer 2011, p82). These principles
entail that both individual and firms are to take full accountability of their behaviors and to conform to established principles and values (Thorne,
Ferrell & Ferell 2008, p167). This definition will probably raise the concern if there is any distinction between ethics and the law.
It is argued that to the degree that law mirrors a society's minimum standard of conduct there is a significant overlap as to what is ethical and legal
and as to what is unethical and illegal. There are subjects covered by the law however not related to ethics. For example the law set the left lane as
the side to be driven on the road which is "keep left pass right". Although this has been regulated to avoid havoc on the roads, the choice about which
lane to be driven on is not an ethical decision as such. The prescription provided does not guide us. The ends of the law lead to the beginnings of
business ethics. Nevertheless there is a grey area because what is legal may be perceived as unethical by key interest group (Peng & Meyer 2011, p82,
Crane& Matten, 2010, p5–7).
1.1The importance of ethics in financial statement
Financial statements display an official report of Omega Trading monetary activities. They report Omega Trading performance, financial strength, and
liquidity. (Business dictionary, 2015; Accounting simplified, 2015). The

The Stock Market Is The Leading Influence On Price Setting...
The stock market is one of the leading influences on price setting and trade markets. It can have both positive and negative effects on prices and
movement in trade both domestically and internationally. The United States stock market has had a long history of influence not only on our economy,
but also on a global scale. Currently, the stock market has been slight downturn, due to falling oil prices and agricultural commodities. Which allows
for cheaper products for the consumers. It is clear to see that the stock market has and will continue to influence how the average person goes about
their day to day life.
The history of the New York Stock ExchangeExternal Link begins with the signing of the Buttonwood Agreement by twenty–four ... Show more
This is also why the gas prices have been so low in the past few months. The three main markets which include the Dow, Nasdaq, and S&P have
been up and down over the last few days. The most popular stock is apple even though it has been in a decline of late. The top five most popular
stocks in today's market are some of the biggest companies in today's electronic age, they are Microsoft, Google, General Electric, and Time Warner.
The top five stock gainers are vacationing places and electronic software corporations. The commodities such as gold, silver, gas, oil, and corn have
been low the last few days. The Canadian dollar has the most value to the U.S. dollar. The Shanghai Market has the highest percentage of gain sitting
around a 2.30% gain in the world markets. The FTSE has the lowest market with a –.59% in the world market. When it comes to the current bear
market it is a little below average of all the bear markets since the thirties. The average is a gain of 3.8% per month while the current bear market is
only gaining 2.9% per month. The total gain of the current bear market has been 167% which is about 20% below average but it is about 40% above
the median for the bear markets of the past.
The stock market is based on a never ending amount of factors, everything that seems to happen in the world good or bad always seems to have some
sort of effect on the market and our economy. Ranging from new company startups, other

The Stock Market is a Necessity Essay
The system of buying and trading shares or stocks has been done around the world for hundreds of years. From the merchants of Venice, to the
coffeehouses in Britain, trading shares has been done everywhere. America has become the world center for trading. The New York Stock Exchange
(NYSE) is the world leader of trading, located on historic Wall Street. Wall Street is a commonly used term referring to thestock market. Thousands of
corporations have put their companies into the stock market, with the objective to make larger, more public companies. But even with all of these
companies in the market trying to make money, it is still possible that such an institution could fail. However, should such an event take place, the
entire world ... Show more content on Helpwriting.net ...
But yet, there are still many who believe that without the stock market, "only those who hold stocks would be affected" (Watters 20). John Watters
would continue by saying that many of the products that people use every day would not be available if the stock market did not exist (Watters 23)
The biggest companies in the market today are ones that provide everything we consider a necessity in American society. Robert Kiyosaki, a very
famous investor and author of Rich Dad Poor Dad, stated "As you look back in history you can see some big movers of our social structure. It's
amazing, what would we do today without our Microwave, cell phones, cable T.V, computers, jets, and instant replay in sports" (Kiyosaki 27).
Companies like Microsoft, Google, Proctor and Gamble, GE, Ford, GM and even Facebook, companies that make the products Mr. Kiyosaki
mentioned, are posted on the stock market. These companies make possible the standard of living that is enjoyed today. Without the huge amount of
capital gained from entering the stock market, many of these companies, and others just like them, would likely no longer exist. This means that the
cost of living would skyrocket, and that the availability of commonly used goods would drop drastically. The stock market is central to the standard of
living that every American seeks.
Secondly, the stock market will always thrive because of the huge amounts of money and the great amount of investors

The National Association of Securities Dealers Automated...
The National Association of Securities Dealers Automated Quotations (NASDAQ) and the New York Stock Exchange (NYSE) are two of the largest
and most known stock exchanges across the globe. Both of these stock exchanges handles and mediates the trade, sale, and purchasing of different
stocks, bonds, and securities. While both of these stock exchanges have their own unique methods and forms of purchasing and selling stocks, they
both serve the same purpose and function, which is a marketplace for the sales of stocks. While the differences between NYSE and NASDAQ do exist,
they are comparatively miniscule to the similarities that exist between them. Their main objective and purpose is the same: to allow companies to
contribute stocks and to ... Show more content on Helpwriting.net ...
On October 29th, 2012, the NYSE was forced to shut down operations for two days in lieu of Hurricane Sandy, which severely impacted their stock
sales and purchasing exchanges. NASDAQ had no issues during this time because they don't utilize a physical location for trading. This is one of the
larger disadvantages that NYSE has when compared to NASDAQ, which had no trouble working past the storm through their electronic
communications model. [IMPACT, MORE INFO] TheNew York Stock Exchangeutilizes the NYSE Euronext, integrating an electronic stock exchange
model with their in–person trading floor model in 2007. This change introduced the NYSE as the first global stock exchange through their integration of
the electronic stock exchange model introduced by Amsterdam–based Euronext [10]. Despite their electronic stock exchange, buyers and sellers still
meet on the NYSE floor in–person to negotiate the sales and purchase of the stocks. The NYSE is one of the only remaining stock exchanges where
physical interactions are necessary for stock sales and purchases.
Auction Market
All trades in the New York Stock Exchange is done through an auction format. Buyers and sellers stand together on an open floor to trade certain
amounts of shares of stocks from publicly traded companies, all of which are registered in the NYSE. Traders are able to make stock transactions in
place of their investors. Traders will

Accounting Developments in Poland
Introduction of Poland Poland officially known as Republic of Poland (Rzeczpospolita Polska) is a country in Central Europe. Poland is bordered
by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad
Oblast, a Russian exclave, to the north. The total area of Poland is 312,679 square kilometers (120,726 sq mi), making it the 69th largest country in
the world and 9th in Europe. Poland has a population of over 38 million people, which makes it the 33rd most populous country in the world. (WBO,
2010) Historical Background A national accounting chart for Poland did not exist before the 1930s although an accountants' Association was already
established... Show more content on Helpwriting.net ...
The cultural shift and market pressures prompted birth of the first truly comprehensive regulation of the independent Poland which is the Act on
Accounting, 1994 (CPAA). This document was noticeably modeled on the 4th Directive (Formats and Rules of Accounting), 7th (Consolidated
Accounting), and 8th (Qualifications and work of Auditors) EU Directives. As it is visible the concepts and notions included in the Accounting Act
also relate to the last issued decree of 1983. Therefore, for accounting 1994, it determined the Western oriented direction in line with socio–political
movement with simultaneous. The next important regulation is the Decree of Minister of Finance of August 1995 which resolved amongst other the
issue of auditing the budgetary sector. Noticeably, solutions unique to Poland, feeding from West, East and within were developed. Very important
requirements of this act, were recognition of only 'acquired goodwill' and use of 'purchase method' only when accounting for mergers and acquisitions.
In these respect it can be noted that the solutions offered in IAS 38 IFRS 3 Business Combination. Additionally Poland already then was strongly
recommending the cost method, which the current IAS 40 requires, even though the solutions at the time (ED 40) were recommending the equity
method for long term investments measurement. Moreover already then, not in line with either EU 4th Directive or IAS 7 at the time, Poland was one
of the few in Eastern Europe

Wall Street : The New York Stock Exchange
Within New York City, Wall Street is concentrated with most of United States' financial industries. Through different movies, such as Leonardo
DiCaprio's Wolf of Wall Street and Charlie Sheen's Wall Street accurately portray the heart of Wall Street: The New York Stock Exchange. The New
York Stock Exchange began on May 17, 1792, the earliest record of organized securities trading. On that day, twenty
–four brokers signed the
Buttonwood Agreement, setting a floor commission rate of 0.25% charged to clients and give the signers the preference to other singers in the
securities sales, thus eliminating the auctioneers. At the beginning, the earliest trades were mostly War Bonds used in the Revolutionary War, allowing
the thirteen colonies to fund enough money to engage in war against the Britain. Thus, they began operated in 1793 at the Tontine Coffee House, built
to serve as a meeting place for trading. However, issues such as corruption and manipulation of the market began to arise, causing the stockbrokers to
instituted reforms and reorganized. As a result, on 1817, the stockbrokers under the Buttonwood Agreement began reforms such as restrictions on
manipulative trading and prevention of leaking market information were enacted to make sure the trading market remain as a competitive market. In
addition, they also renamed their broker organization as "New York Stock and Exchange Board", in hopes to demonstrates their reform to the public.
As time continues, the invention of

Future Contract Essay
Futures contract
In finance, a futures contract is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a
price agreed today (the futures price or the strike price) but with delivery occurring at a specified future date, the delivery date. The contracts are traded
on a futures exchange. The party agreeing to buy the underlying asset in the future, the "buyer" of the contract, is said to be "long", and the party
agreeing to sell the asset in the future, the "seller" of the contract, is said to be "short". The terminology reflects the expectations of the parties –– the
buyer hopes the asset price is going to increase, while the seller hopes for a decrease. Note that the contract ... Show more content on Helpwriting.net ...
* The delivery month. * The last trading date. * Other details such as the commodity tick, the minimum permissible price fluctuation.
Margin
To minimize credit risk to the exchange, traders must post a margin or a performance bond, typically 5%–15% of the contract's value.
To minimize counterparty risk to traders, trades executed on regulated futures exchanges are guaranteed by a clearing house. The clearing house
becomes the buyer to each seller, and the seller to each buyer, so that in the event of a counterparty default the clearer assumes the risk of loss. This
enables traders to transact without performing due diligence on their counterparty.
Margin requirements are waived or reduced in some cases for hedgers who have physical ownership of the covered commodity or spread traders who
have offsetting contracts balancing the position.
Clearing margin are financial safeguards to ensure that companies or corporations perform on their customers' open futures and options contracts.
Clearing margins are distinct from customer margins that individual buyers and sellers of futures and options contracts are required to deposit with
brokers.
Customer margin Within the futures industry, financial guarantees required of both buyers and sellers of futures contracts and sellers of options
contracts to ensure fulfillment of contract obligations. Futures Commission Merchants are

What Are The Pros And Cons Of Dark Pools
Several different names referring to dark pools, "upstairs market," "dark liquidity" or "dark pool liquidity."
Dark pools get their name from that the details of the trade are concealed from the public. Dark pools is a term for private forums or exchanges for
trading securities, they are not accessible by the investigating public and therefore they lack transparency. Dark pools gives the opportunity to facilitate
block trading between institutional investors who don't want to impact the market price with their large orders which could consequence the price of
the trades. Hence dark pools gives the Institutional sellers a better chance getting a buyer for the whole blocks of shares than normal exchanges hence
Dark pools are dedicated to large ... Show more content on Helpwriting.net ...
NYSE Euronext (exchange owned) and Liquidnet (broker owned). Act as a Agents and not as principal. The prices are derived from Exchanges E.g.
National Best Bid and Offer (NBBO).
Pros and Cons Dark Pools
The advantages of Dark pools are the reduced market impact for large orders. Large orders still have market impact but the impact will be smaller
and comes later than on normal exchanges. E.g. if the buyer or seller is a Public pension fund they need to be upfront with the trade and announce it
after the trade has been done and the market price may be affected by this large trade.
Another advantage of Dark pools is that transaction cost might be lower.
There are some Cons and drawbacks of Dark pools, one of the drawbacks is that there is no guarantee that the pool participants get the best price. This
is the con part of the lack of transparency that Dark Pools offer. Another problem with Dark pools is that if the amount of Broker–Dealer owned and
Market Maker Dark pools trading continue to grow the price on the exchange may no longer reflect the actual market. After a large trade has been
made in a Black pool and is announced the price may fall and the buyer can therefore have paid too much for the shares. Other Cons of Dark pools are
that they are vulnerable to predatory High Frequency traders using "pinging" and other tactics trying to find underlying large

The Capital Asset Pricing Model
From the very time of its development, there have been many attempts to prove the validity of the Capital Asset Pricing Model. For instance, Black,
Jensen and Scholes (1972) performed a test to check if securities are priced accordingly to their systematic risk. In order to test the theory that there
was a positive linear relation between the expected return and beta, instead of the individual stock, they used monthly return data and portfolios. They
obtained ten portfolios of monthly returns for 35 years and ranked them by risk securities, from the highest to the lowest. This sorting technique is now
regularly used in empirical checks. They discovered that the intercepts О± were regularly negative for the high–risk portfolios and always ... Show more
He formulated an opinion that such proxy, when used to calculate return on the market, cannot guarantee to be mean–variance efficient.
The evidence gained from examination done by Nimal and Fernando (2013) concerning Tokyo Stock Exchange (TSE) and the Colombo Stock
Exchange (CSE) confirmed not only that beta is a useful tool in expanding deviations in market premium, but also that there is a relation between
return and beta. However, the previous research done in the Japanese market by Yonezawa and Hin, (1992) did not confirm the validity of the CAPM.
In their research, they checked monthly returns from January 1952 to December 1986 and concluded that limited diversification was the main cause of
CAPM failure.
Pettengill et al. (1995) suggested a new method for testing the relation between return and beta. They established a conditional model which
anticipates whether the risk premium on the market index is positive or negative. When the excess return on the market index is positive there should
also be a positive relationship between beta and return, and when the risk premium is negative and return also negatively connected. It is based on a
fact that high beta stocks are very likely to be more sensitive to the negative risk premium and even have a lower return than low beta stocks. Their
research conducted on the US market confirmed that there is a positive relation between betas and returns.
The same conclusions were

Finance 320 Final Exam
SampleFinal Finance 320 Finance Department Name___________________________________ Chapters: 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, and 13 1) A
C corporation earns $4.50 per share before taxes. The corporate tax rate is 35%, the personal tax rate on dividends is 20%, and the personal tax rate on
non–dividend income is 39%. What is the total amount of taxes paid if the company pays a $2.00 dividend? A) $2.48 B) $1.98 C) $0.90 D) $1.58 2)
Why in general do financial managers make financial decisions in a corporation, rather than the owners making these decisions themselves? A) The
interests of the various owners may conflict with each other. B) It is best for the control of the finances of a corporation to be in the hands of... Show
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D) none of the above 13) A dollar today and a dollar in one year may be considered to be equivalent. A) True B) False 14) An investment will pay
you $100 in one year and $200 in two years. If the interest rate is 5%, what is the present value of these cash flows? A) $285.71 B) 258.32 C)
$276.65 D) $305.00 3 15) A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2400. After
installation the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. How much must
the homeowner save on water heating costs every year if this is to be a sound investment? (The interest rate is 9% per year.) A) $262 B) $216 C)
$248 D) $240 16) Which of the following would be LEAST likely to lower the interest rate that a bank offers a borrower? A) The expected
inflation rate is expected to be low. B) The investment will be for a long period of time. C) The borrower is judged to have a low degree of risk.
D) The number of borrowers seeking funds is low. 17) The effective annual rate (EAR) for a loan with a stated APR of 8% compounded monthly is
closest to: A) 8.33% B) 8.00% C) 8.30% D) 8.24% 18) You are considering purchasing a new truck that will cost you $34,000. The dealer offers you
1.9% APR financing for 48 months (with payments made at the end of the month). Assuming you finance the entire $34,000 and finance through the
dealer, your

Luxury Good and Gucci
Company Profile Gucci group is one of the world's leading multi–brand luxury goods companies. Thanks to a clear strategy and a set of unique
competitive advantages, the group has developed and strengthened a prestigious brand portfolio, broad product range and extensive geographical
presence worldwide. The group well balanced brand portfolio includes prestigious and clearly identified luxury brands with a distinctive, specific role.
Gucci, Bottega Veneta and Yves Saint Laurent are the engines of organic growth. Boucheron offers complementary expertise in segments like jewellery
and watches. Balenciaga, Stella McCartney, Alexander McQueen and Sergio Rossi are cutting–edge brands with high potential for long–term growth.
Gucci group has... Show more content on Helpwriting.net ...
At the time, brothers Aldo and Rodolfo controlled equal 50% shares of the company, though Rodolfo contributed less to the company than Aldo
and his sons did.At this time Aldo initiate his grandson Uberto Gucci to join the family company , where in the 1984, takes the leads as
VicePresident in the GUCCI PARFUMES BRANCH. In 1979, Aldo developed the Gucci Accessories Collection, or GAC, intended to bolster the
sales for the Gucci Perfumes sector, which his sons controlled. GAC consisted of small accessories, such as cosmetic bags, lighters, and pens, which
were priced at considerably lower points than the other items in the company's accessories catalogue. Aldo relegated control of Perfumes to his son
Roberto in an effort to weaken Rodolfo's control of the overall operations of the company. Though the Gucci Accessories Collection was well received,
it proved to be the force that brought the Gucci dynasty crashing down. Within a few years, the Perfumes division began outselling the Accessories
division. The newly–founded wholesaling business had brought the once–exclusive brand to over a thousand stores in the United States alone with the
GAC line, deteriorating the brand's standing with fashionable customers. "In the 1960s and 1970s," writes Vanity Fair editor Graydon Carter, "Gucci
had been at the pinnacle of chic, thanks to icons such as Audrey Hepburn, Grace Kelly, and Jacqueline Onassis. But by the 1980s, Gucci had lost

Luxury Good and Gucci
Company Profile
Gucci group is one of the world's leading multi–brand luxury goods companies. Thanks to a clear strategy and a set of unique competitive advantages,
the group has developed and strengthened a prestigious brand portfolio, broad product range and extensive geographical presence worldwide.
The group well balanced brand portfolio includes prestigious and clearly identified luxury brands with a distinctive, specific role. Gucci, Bottega Veneta
and Yves Saint Laurent are the engines of organic growth. Boucheron offers complementary expertise in segments like jewellery and watches.
Balenciaga, Stella McCartney, Alexander McQueen and Sergio Rossi are cutting–edge brands with high potential for long–term growth.
Gucci group ... Show more content on Helpwriting.net ...
This strategic partnership represents the materialization of a shared vision regarding long–term growth prospects in the Haute Horlogerie Segment.
2009 Feb:
BE dat &co. the niche young mono–product brand is sold to Malaysia based luxury Concepts Wathes & Jewellery in partnership with brand's current
acting–CEO Viviane Fankhauser and will continue to design, market and sell luxury swiss watches under the Bedat&co brand.
The House of Gucci, better known simply as Gucci (Italian pronunciation: [ЙЎuttКѓКѓi]), is an Italian fashion and leather goods label, part of the
Gucci Group, which is owned by French company Pinault–Printemps–Redoute (PPR). Gucci was founded by Guccio Gucci in Florence in 1921.
Gucci generated circa в‚¬2.2 billion worldwide of revenue in 2008 according to BusinessWeek magazine and climbed to 41st position in the
magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand. Gucci is also the biggest–selling Italian brand in the world.[2] Gucci
operates about 278 directly operated stores worldwide (at September 2009) and it wholesales its

Macy's Financial Statement
Macy's: Executive Summary Macy's, Inc. Macy's, Inc. is known as the one of the leading retail corporations worldwide. It offers its customers a
wide range of products including clothing, footwear, jewelry, beauty products, and even home dГ©cor. Macy's has opened more than 800 stores
across the U.S. and reported fiscal year (FY) 2009 sales of $23.5 billion. Although Macy's is a prominent retailer today, their success had to start
somewhere. In this summary we will take a glance at Macy's history as well as their prior and current financial information. Brief History of Macy's,
Inc. Before Macy's, Inc became a household name Rowland H. Macy, the founder of Macy's Inc., started a dry–goods store in 1851 in Haverhill,
Massachusetts where... Show more content on Helpwriting.net ...
Macy's Investor Relations On March 28, 2007, Macy's, Inc. announced that they would be sharing and trading on the New York Stock exchange under
the ticker symbol "M". Macy's Assets The two most recent annual reporting periods for Macy's, Inc. cash and cash equivalents are FY 2009 (ending
January 30, 2010) and FY 2010 (ending January 29, 2011). FY 2009 cash and cash equivalents were $1,686 million. By January 30, 2011, cash and
cash equivalents had decreased by more than 13% to $1,464 million. Macy's total current assets for its FY 2009 and FY 2010 increased less than 1%
by January 29 2011. Total assets for FY 2009 were worth $6,882 million while total assets for FY 2010 were worth $6,899 million. The order of current
assets for Macy's, Inc. is presented as follows (millions): FY 2010 FY 2009 –Cash and cash equivalents $1,464 $1,686 –Receivables 392 358
Merchandise inventories 4,758 4,615 –Prepaid expenses and other current assets

The New York Stock Exchange
Today the New York Stock Exchange is synonymous with investing. However, it hasn 't always been that way. Our current system of exchange has
grown and changed over time to become what it is today. We 'll walk you through a history of the stock market to see what it took to get to where we
are today.
1100s– France
During this time France had a system where 'courretiers de change ' (or brokers) would manage the agricultural debts throughout the country on behalf
of the banks, and trade debts from one bank to another.
1200 's– Merchants of Venice
The merchants and moneylenders of Venice were the first brokers of the time, they would meet with other lenders, carrying slates with information on
the various issues for sale. They These ... Show more content on Helpwriting.net ...
These investments would outfit the ship and crew, and upon a successful return, would pay back a percentage to the investors. These types of
limited liability companies would only last for voyage though, and would be dissolved upon return, only for a new company to be created for the
next one. Investors would spread their risk around by investing in several different ships at the same time, allowing them to play the odds against all
of them ending poorly. If a ship had a 33% chance of being seized by pirates, and the investor had placed money in 3 or 4 companies, instead of just
one, they would still make a profit.
When the East India companies were formed, they changed how business was done. These companies had stocks that would pay dividends on all of
the proceeds from all of the voyages that the companies undertook, rather than going on a voyage by voyage basis. They were the first modern joint
stock companies, which allowed them to demand more for their shares, and in time, build larger fleets. The size of the companies, along with their
royal charters which forbid competition, meant huge profits for those that could invest.
Would You Like Stocks With Your Coffee?
Shares of the various East India companies were issued on paper, which allowed investors to sell to other investors. However, in order to be able to buy
stocks, an

Derivatives : Financial Weapons Of Mass Destruction
CHAPTER I: INTRODUCTION During the last 30 years, derivatives have become increasingly important and widely used in the field of finance all
around the world. Their increasing values made them impossible to be ignored because they have become much bigger than the stock market when
measured in terms of underlying assets in so much that Global corporations and financial intermediaries trade billions of dollars of derivative contracts
on a daily basis across a range of products and markets (Batten and Wagner, 2012). However, some critics pointed out that "derivatives implication has
contributed in the collapses and bankruptcies of financial institutions such as Barings Bank in 1995, Long–term Capital Management in 1998, Enron in
2001, Lehman Brothers and American International Group (AIG) in 2008" (Michael Chui 2012). Even Warren Buffett argued in 2003 that
"derivatives are financial weapons of mass destruction that could harm not only their buyers and sellers, but the whole economic system"
(News.bbc.co.uk, 2003). Thus it is noticeable that opinions about derivatives are biased. Therefore, throughout this work, I will aim to investigate at
the differences between future and option contracts with a critical analysis on the evidence presented. The work will be divided into 3 parts which are
Chapter 2, chapter 3 and the conclusions. The chapter 2 will about literature review where will be discussed the definitions of futures and options
contracts as well as their differences

Analysis and Comparison of Hsbc and Barclays Bank
Analysis And Comparison Of Hsbc And Barclays Bank Finance Essay
This report compares financial performance of two major banks of UK i.e. HSBC Bank Plc and Barclays Bank Plc on the basis of their Balance sheets
and profit and loss accounts for the year 2009. This report also provides SWOT analysis of both banks i.e. HSBC and Barclays Bank Plc and provides an
insight into their Banking Strategies.
The key financial indicators for evaluating financial performance of any bank are Profit Before Tax, Capital Ratio, Adjusted Gross Leverage, Loan
Funding Ratio, Net income, Assets and Liabilities, Equity and Share Holders return.
Barclays reported net profit of ВЈ 10,289 milllion in 2009, an increase of 96% as compared to 2008.Although Barclays Bank ... Show more content on
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Although the parent company HSBC holdings was established in 1990,when "The HongKong and Shanghai Banking Corporation" Purchased Midland
Bank of UK, and its headquarter moved to London from HongKong as a condition in the takeover deal in 1993.
HSBCs stock is traded on London, NewYork, HongKong, Paris and Bermuda stock exchange.
HSBC is one of the Largest Banking and Financial Services organisations in the world, shares in HSBC holdings plc are held by over 220,000 share
holders in 121 countries. HSBC provides a comprehensive range of financial services to more than 100 million customers through four customers an
global businesses: Personal Financial Services; Commercial banking: Global banking and Markets: private banking.
HSBC UK retail banking comprises two customer groups , personal Financial services ('PFS') and commercial banking('CMB'). UK personal
Financial Services provides current account, savings , personal loans , mortgages , cards, financial planning, as well as life and general insurance to
UK personal customers through a variety of distribution channels under various HSBC brands, including First direct, Marks and Spencer money and
partnership card.
As at 31 December 2009 , the bank had 1,369 branches in the United Kingdom.
Financial Performance and Interpretative Analysis
Barclays Bank PLC
Barclays delivered net profit for the year of ВЈ10,289m in 2009, an increase of

Comparative Analysis of Financial Statements Between Two...
A Case Report on the Financial Statements of Reed Elsevier and Thomson Corporation Executive Summary With the objective to understand the
business performance of the two entities, we reviewed the 2007 financial statements of both company and tried to obtain some insight on the
profitability and solvency of each entity. The two companies we study are: Reed Elsevier and Thomson, in the filed of information and publishing.
Reed Elsevier is listed in below stock exchanges: REN (Euronext Amsterdam), REL (London), RUK and ENL (NYSE). Thomson was shown (before
acquiring Reuters) as TOC (NYSE) and TOC (TSX). As the two multinational companies we are studying covering diversified businesses, here in the
article we are only... Show more content on Helpwriting.net ...
Net Income from Discontinued OperationsвЂЁ The amount shown on the income statement under discontinued operations is the profit made during
the period from the businesses that will not be a part of the company in the future. The net profit for the year of Reed Elsevier is higher almost by
50% due to the profit made from discontinued operations. The net profit of the Thompson Corporation has also grown by almost 4 times, which is
also due mostly to the earnings from discontinued operations. Net Profit Margin Now let's see how much profit a company makes for every $ 1 it
generates in revenue. Profit margins vary by industry, but all else being equal, the higher a company's profit margin compared to its competitors, the
better. Reed Elsevier: 1,713 / 6,693= 0.26 Thompson: 1,096 / 7,296 = 0.15 Return on Equity (ROE) One of the most important profitability metrics is
return on equity. Return on equity reveals how much profit a company earned in comparison to the total amount of shareholder equity. It's what the
shareholders "own". A business that has a high return on equity is more likely to be one that is capable of generating cash internally. For the most part,
the higher a company's return on equity compared to its industry, the better. Let's calculate ROE for Thomson: the earnings for 2007 were 4,004, and

Nordstrom Executive Memo
Nordstrom Executive Summary
This memo will provide a brief history and financial overview of Nordstrom, a high–end, quality clothing store operating in 28 states with more than
200 stores according to Nordstrom's Business Wire press release on December 2, 2010 (Nordstrom, 2010). Additionally, an overview of the financial
information includes specific details from the balance sheet, income statements, and statement of cash flow for 2007 through 2009 and any latest
reporting for 2010. The statements are attached for reference.
Company History
Wallin & Nordstrom was founded in 1901 by John W. Nordstrom and Carl Wallin as a shoe store in downtown Seattle. John retired in 1928 and Carl a
year later, both sold their shares to John's sons. ... Show more content on Helpwriting.net ...
On January 31, 2009 Nordstrom lists its total assets worth $5,661 million dollars. This amount increased the next year by $918 million. During
January 30, 2010, Nordstrom reported its total assets as $6,579 million dollars (Nordstrom, 2009, Annual Report, p. 37).
Accounts Payable for 2008–2009
According to the Nordstrom, Incorporated Annual Report 2009 about 36% of the current liabilities is held in accounts payable. For the 2009 fiscal
year ending January 20, 2010 the amount of accounts payable was $726 million, up from the previous year total of $563 million (Nordstrom, 2009,
Annual Report, p. 37).
Total Current Liabilities for 2009–2010
The total current liabilities for fiscal year (FY) 2009 were $2,014 million. Once again, this was up from the FY2008 total of $1601 million. Of those
totals for each year the top two current liabilities were the same. Accounts payable was the number one liability each year followed by other current
liabilities (Nordstrom, 2009, Annual Report, p. 37).
One interesting observation is that the commercial paper listed in FY 2008 $275 million was eliminated in FY 2009 and replaced by a significant
increase in long–term debt. The current portion of long–term debt increased from $24 million in 2008 to $356 million in 2009 (Nordstrom, 2009, p.
37). Total Liabilities for 2009–2010
As of January 30, 2010 in FY 2009 the

The Reformation Of Corporate Governance
Reformation of Corporate Governance The importance of governance has emerged only after the numerous corporate scandals witnessed globally
during the past years. The aftermath of these failures have driven most OECD nations towards continuous reformation of their corporate governance
practices. (OECD, 2003) The US follows the "Anglo–American" Corporate Governance System which is governed through federal securities laws and
regulations enforced by SEC, NYSE and NASDAQ. The effectiveness of this system has been heavily criticized due to its massive failure in
preventing Enron, WorldCom, and Tyco corporate misconduct. Details of these scandals evidenced that the optimal amount of independence and
oversight was not adequately practiced over the boards of U.S. companies. Thus, in 2002, SEC enacted the Sarbanes–Oxley Act (SOX) intended to
protect investor's interests by imposing penalties for violating the provisions of SOX. The act mandated changes in corporate governance principles
related to executive compensation, shareholders oversight, board independence and accountability (Sec.gov, n.d.). This reformation has strengthen the
corporate internal controls, however its implementation is deemed to be inefficient in terms of costs. According to KING III report the "total cost to
the American economy to comply with SOX is more than the total write–off of Enron, WorldCom and Tyco combined" (KING III, 2009). In France,
corporate governance is a not an old issue, not enough

Monopolies, Oligopolies and the Economy
Monopolies, Oligopolies and the Economy
Monopoly is a term to describe an industry where a seller of a product or service does not have a competitor offering a close substitute. The word is
derived from the Greek words monos (meaning one) and polein (meaning to sell). Rarely does a pure monopoly exist. In a pure monopoly there is only
one company making and selling the item in question; however there can also be the situation where there is one company who has the bulk of sales
and the other firms in the same market have little or no impact on the overriding company. Due to lack of competitors, the monopoly company has
control of the supply and price of the good or service, unless there is government intervention. The monopoly will ... Show more content on
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In order for the monopoly to remain, there has to be some sort of barrier to entry for new companies to enter the industry. Examples of barriers to
entry would include high start up costs, limited resources, patents or legal barriers. A company can become a monopoly in different ways. In the case
of Viagra, although the patent and monopoly were later lost, the company earned its monopoly position by offering the only product approved and
patented for erectile dysfunction. In the case of the USPS the government outlawed any competition for them creating a monopoly.
While a monopoly usually involves one firm with significant control on the market, an oligopoly contains a few firms. An oligopoly is a market
structure where a few companies selling identical or differentiated products control the marketplace. The few players in an industry are usually quite
large compared to the market for the product, thus giving these few players an advantage at market control. There are barriers to entry in oligopolies
that include patents or government grants, ownership of resources, cost prohibitive barriers, brand equity and diminishing average cost. The leaders of
companies within oligopolistic industries monitor decisions made by other players in the industry; this is called interdependency. The major companies
within an oligopoly tend to compete through product differentiation or advertising

Accounting Developments in Poland
Introduction of Poland
Poland officially known as Republic of Poland (Rzeczpospolita Polska) is a country in Central Europe. Poland is bordered by Germany to the west;
the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian
exclave, to the north. The total area of Poland is 312,679 square kilometers (120,726 sq mi), making it the 69th largest country in the world and 9th in
Europe. Poland has a population of over 38 million people, which makes it the 33rd most populous country in the world. (WBO, 2010)
Historical Background
A national accounting chart for Poland did not exist before the 1930s although an accountants' Association was already ... Show more content on
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In the year 1956, the socialist–communist ruling in Poland was lessened and it has created certain level of autonomy for state–owned enterprises and
enabled the management and other personnel to participate in profit distribution. Consequently, Institute of Audit Experts was established in 1957. The
appointed State Authorised Accountants (SAA) was to serve the purpose to verify the accounts of state owned enterprises with a view to ascertain
appropriation of profits and also the achievement of the centrally planned targets. Three years later the longest UPA in operation (1960–1975) was
implemented based upon the previous Uniform Plans of Accounts, Branch Accounting Plans and Enterprise Accounting Plans 15. This change has
allowed firms to devise accounting systems to meet their individual needs.
The last Uniform Plan of Accounts was enacted in the year 1976. This gives strong grounds to believe that the accounting body, in a system based on
rigid law regulations was still capable of developing a broader perspective, professional view and ability to use professional judgment. It is visible that
under socialist ruling management accounting was the main area of growth since 'nominal profitability' and improvement of internal 'efficiency' were
the main objectives of the practitioners. No specific or detailed rules were provided for cultural and historical events and the nature of codified law
affect IFRS adoption, acceptance

The Stock Market And Stock Exchange
This paper will encompass the importance of the U.S stock market/stock exchange versus the Chinese stock market/ stock exchange, with a brief
introduction about how each stock market/stock exchange came into existence, the importance of each stock market/stock exchange, how the U.S and
Chinese manage their stock markets/stock exchange, how corporations are appointed plus the rules and regulations. This will also entail random facts
about each stock market/stock exchange. Stock markets are like hitting a royal flush, if the price of your stocks goes up, you win; if it drops, you
lose! The stock market, also known as the fairness market, is one in which shares are owned by companies and their shareholders. The companies that
are on the stock market, its stocks are issued and traded publicly, through either exchanges or over–the–counter markets. The stock market is considered
to be one of the most critical components of a gratuitous–market economy that provides companies with access to dominance in exchange for giving
investor's the opportunity to have some type of possession of the company. The stock market gives those the power to invest monies, and to capitalize
on their gains. This in return can bring about wealth to some without having to take a financial risk in starting up a new business.
The U.S stock market came into existence on May 17, 1792 followed by the stock exchange coming into existence on March 8, 1817, at Wall Street,
lower Manhattan, New York City, New

How the Stock Market Works
The stock market is where companies are able to sell stocks/shares or derivatives on any agreeable price. There are many stock markets around the
world that operate in different countries, and the biggest two are in New York City, U.S.A, which are the NYSE Euronext and NASDAQ. So in this
course we were requested to participate in a stock exchange simulation, in which we are to exchange stocks virtually based on real statistics. In this
game we were to experiment with buying and selling stocks and try out different strategies, and determine which strategy generated the most profits.
The main goal was to start out with $10,000 of virtual money and buy and sell stocks in order to make more profit and increase the final amount. The
first ... Show more content on Helpwriting.net ...
On the other hand News Corporation and Amazon's prices went up, but not enough to cover for the loss of R.I.M, and Netflix. Therefore I believe
this is a great strategy to use, although it doesn't generate a lot of money, instead it creates profit on a steady pace, making it preferable for long
term investors. In addition a person has to be careful in which company they decide to buy their share in. For the second week I took upon a
different strategy. I bought stocks in Carpathian Gold, which is a mining company that looks for efficient ways to mine gold in Brazil, and lately
the have expanded their production to different parts in Brazil, which should raise their capital gain since they are going to be bringing more gold.
I also bought stocks in Yellow Page's, a company that is well known for hosting ads, and lately they have enhanced their company and expanded
through the use of technology and getting Yellow Pages Apps. The third stock that I bought that week was in a company called Excellon Resources,
a company that collects minerals and researches on ways that they can be used. Excellon Resources is a company that operates in Mexico and has
expanded its project to more parts in Mexico, thus aiming to increase their profits. I also bought stocks in First Nickel Inc. which is a

In the main 19th century, countless new enterprises sprang...
In the main 19th century, countless new enterprises sprang up in the railroad and assembly industries. The New York Transactions Board had next
mandated an association to have a minimum of 100 stocks in order to transactions in their exchange. Countless of these new firms might not encounter
such necessities to be tabulated on the Board. A cluster of non–member brokers catered to the needs of these firms as they traded their stocks beyond
the registered exchanges. These brokers came to be recognized as the curbstone brokers, as they led their auctions out in the street. These brokers
frequently traded stocks that were speculative in nature. With the invention of oil in the afterward half of the 19th century, even oil stocks went in into...
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Kolton challenged the believed of a coalition alongside the New York Stock Transactions as he manipulated the transactions saying that "two
autonomous, viable exchanges are far extra probable to be responsive to new pressures and area needs than a solitary institution". Kolton proclaimed in
July 1977 that he should be departing his locale at the American Transactions in November of that year. The American Stock Transactions merged
alongside the New York Stock Transactions (
NYSE Euronext) on October 1, 2008. Post coalition, the Amex equities company was called "NYSE
Alternext US". As portion of the re–branding exercise, NYSE Alternext US was re–branded as NYSE Amex Equities. On December 1, 2008, the Curb
Transactions constructing at 86 Trinity Locale was closed, and the Amex Equities interchange floor was advanced to the NYSE Interchange floor at 11
Wall Road. The Growling Twenties, the decade that pursued Globe Fight I and managed to the Crash, was a period of wealth and excess. Constructing
on post–war optimism, countless rural Americans traveled to the metropolises in large numbers across the decade alongside the hopes of discovering a
extra prosperous existence in the ever producing development of America's manufacturing sector. As the American metropolises prospered, the large
migration from rural spans and endured disregard of the US farming industry should craft extensive commercial anguish amid

Functions of the Stock Market: Benefits and Limitations
Introduction Stock markets are a central component to the functioning of a capitalist economy. All major economies have national stock markets
and many economies have smaller markets as well in order to facilitate trade in small cap stocks, or other specialized securities such as derivatives.
Sometimes the performance of a stock market is used in the media as a measure of economic performance, as the market is deemed to be
comprised of rational economic actors whose actions are guided by high levels of knowledge. It is important for everybody to understand how
stock markets work, and what the benefits and limitations are of using stock markets as a gauge of economic performance. Functions of the Stock
Market In general, stock markets provide two basic functions. They serve as a primary market and as a secondary market. It is worth keeping in
mind that stock markets could not serve as a primary market if they did not serve as a secondary market. The primary market function refers to a
market where investors first have the opportunity to acquire a security. A company that goes public for the first time during its initial public offering
(IPO) is selling on the primary market, meaning that the buyers are the first buyers of those particular shares (Investopedia, 2012). On the primary
market, stocks are sold by the company to investors, usually through an intermediary like an investment bank. Stock markets also serve as secondary
markets. Once stocks have been sold

New York Stock Exchange Essay
The New York Stock exchange started when the Buttonwood Agreement was signed by twenty–four New York City stockbrokers and merchants on
May 17, 1792, outside at 68 Wall Street under a Buttonwood tree. It was orginally called The New York Stock and Exchange Board (New York Stock
Exchange). The first twenty four memebers were Leonard Bleecker Hugh Smith, Armstrong & Barnewall, Samuel March, Bernard Hart, Alexander
Zuntz, Andrew D. Barclay, Sutton & Hardy, Benjamin Seixas, John Henry, John A. Harden
–brook, Samuel Beebe, Benjamin Winthrop, John Ferrers,
Ephraim Hart, Isaac M. Gomez, Gulian McEvers, Augustine H. Lawrence, G. N. Bleecker, John Bush, Peter Anspach, Charles McEvers, Jr. David
Reedy, and Robinson & Hartshorne. In the very beginning there were only 1,366 traders. In the beginning, there were five securities traded in New York
... Show more content on Helpwriting.net ...
It is only closed for nine American holidays New Year's Day, Martin Luther King Day, Washington's Birthday, Good Friday, Memorial Day,
Independence Day, Labor Day, on the fourth Thursday in November for Thanksgiving and on December 25 for Christmas. The first long closure
of the NYSE was after John Wilkes Booth assasinated President Abraham Lincoln in 1865. The exchange was closed for over a week and has
observed Lincoln's birthday every year from 1896 to 1953. The first financial event to close down the NYSE was the panic of 1873. The bank failed,
and the NYSE closed for ten days. When World War I it marked the longest shutdown on record with the NYSE when it closed for more than four
months in 1914. Another time that it closed down for four days was after the September 11th terrorist attacks on the World Trade Center (Waggoner).
The New YorkStock Exchange is hoping to buy the Chicago Stock Exchange. If the sale goes well then the NYSE will own twenty two percent of
America's stocks, bonds and securities (Massa). The Chicago Stock Exchange is worth anywhere from 50 million to 100 million dollars

The Nyse, New York Stock Exchange
The NYSE, New York Stock Exchange, sometimes referred to as the Big Board is located at 11 Wall Street in New York, New York. It is an
American stock exchange, and is the world's largest stock exchange by market capitalization with list companies currently at $16.6 trillion. In 2003
the average daily trading value was approximated at $169 billion. It is measured in dollar volume of activity and total value of shares listed. The
NYSE consists of four rooms that facilitate trading. There is a fifth room located at 30 Broad Street also in New York, New York that is used as the
infamous trading room. The NYSE is owned by the Intercontinental Exchange which is an American holding company. It was previously part of the
NYSE Euronext or NYX. This... Show more content on Helpwriting.net ...
Having procession of a license allows an exchange member to buy and sell securities in the trading department of the exchange. The cost of a
license in 2009 was $44,000. The 2007 merger with Euronext that formed the NYSE Euronext was formed in 2000. This included markets in
Belgium, France, Ireland, the Netherlands, Luxembourg, Portugal, and the United Kingdom. This merger made the NYSE the first global
exchange. Now trading occurs over 21 hours of every 24 hour business day. The majority of NYSE members are registed as commission brokers.
Comisiion brokers are to execute costumer orders to buy and sell their stocks. Their primary responsibility to customers is to get the best price
possible for the order they have directed the commission broker. The second largest group of members in the NYSE are the specialist who are
assigned dealers for a set of securities. Specialist or market makers are obligated to maintain a fair, orderly market for the securities assigned to
them. They keep watch and post bids and ask prices for the securities that are in their care. They make a market by standing ready to buy at bid
prices and sell at asked prices when there is a temporary disparity between the flow of buy orders and that of sell orders for a security. The third
group of members in the exchange are floor brokers. They are used by the commission brokers to handle the trades when they are busy handling the
larger picture. Some commission brokers will

Case Study Of Eco-Feminism
Women Empowerment and Eco–feminism: Two case studies of India; Bihar in perspective Ssubmitted By: Rai Dhingra A6030115038
Abstract Eco–feminism grows from the idea that a woman's ethic are closer and in sync with the nature than a man's .Eco–feminists address and treat
woman's right on natural resources as human right. But woman have no control and right on natural resources. The history of woman's land right in
India and other country of South Asia has been and will continue to be a history of contestation and struggle at every level i.e. legal administrative,
social and ideological. Cultivated land, forest and water are, and will be the most crucial form of property in rural India. Women direct ownership of
land and control over natural resources can be ... Show more content on Helpwriting.net ...
THE LINK BETWEEN STOCK PRICES AND THE ECONOMY
Economic theory proposes that there should be a strong link between economic activity and stock prices, given that its price is the discounted present
value of the firm's payout. If this payout is finally a function of real activity, such a link should exist.
There are several theoretical propositions suggesting how stock prices can have a direct impact on economic output, which further strengthens the link
amongst these two variables.
1.The first link was proposed by Tobin in 1969. The focus is on the impact that share prices have on the cost of capital. The coefficient that captures
this is called Tobin's Q, which is given by the ratio of market value of current capital to the cost of replacement capital. When the prices of shares are
high, the value of the firm to the replacement cost of its capital is also high i.e., the Tobin's Q is also high. Furthermore, this leads to rise in
investment expenditure and thus causes a rise in the aggregate economic output as for firms it is easier to finance their investment expenditures. This
is because investment would be simpler as it would require a lower share offering in a situation of a higher price for

1994 Mexican Currency Crisis
The purpose of this report is to analyse the reasons for, the impact of, and the measures taken in response to the Mexican currency crisis of 1994–1995.
The first objective is to assess the reasons for the crisis. Why did Mexico, a once immensely desirable investment destination become the bain of the
international financial community following December 1994?
The second and chief objective is to assess the impact of the crisis on the foreign exchange and stock markets. The report answers why the crisis
adversely affected the Latin American market indices while the US market indices continued to rise.
The third objective is to analyse the measures taken in response to the crisis by the Mexican Government and other international ... Show more content
on Helpwriting.net ...
The Mexican Government, in protecting its managed float, lost a further US$11billion in reserves over the following month (Joseph & Whitt 1996).
Throughout 1994, Mexico lost significant amounts of reserves trying to stabilise the exchange rate. In 1989 the current account deficit was US$6
billion; by 1991 it had grown to US$15billion, before swelling to approximately US$20billion 1992 and 1993. However, after losing US$1.5billion
in reserves over three days in early December 1994, the Government decided to depreciate the Peso by approximately 15%. Within days the Peso
plummeted in value as the Government abandoned its new peg, sending the country into the 1994 Mexico financial crisis (Joseph & Whitt 1996).
As the Mexican's government access to the international credit market started to diminish, so did the investors' confidence in their ability to redeem
their investments in government backed Tesobonos bonds. Tesobonos are bonds issued by the Bank of Mexico, marketed predominantly to foreign
investors and to be repaid in US$. The dollar denominated bonds which were due to mature in 1995 were unlikely to be repaid in full ($10 billion
worth of Tesobonos were to mature in the first quarter of 1995 followed by $19 billion worth before the end of 2005) (JR, 1996 & Arner, n.d).
These two factors, the devaluation of the exchange rate in conjunction with the impending default of

Ipo And Secondary Stock Market
The stock market provided companies the right to issued and traded stock through exchange or over the counter market. A stock is a portion of the
ownership of a corporation. Some examples of stock market in the US are: NASDAQ, NYSE, NYMEX. Other stock markets around the world:
LSE (England), MSE (Canada), HKEX (Hong Kong), etc. Every company needs to raise money, so usually companies borrow it from somebody
like other companies and banks, or they can selling part of the company, which is known as issuing stock. There are two main ways to issue
stocks: IPO and secondary offering. IPO, stands for initial public offering, is the first sale of stock by a private company to to the public. Through
this process, a private company transform into a public company. This leads us to the secondary offering. Secondary offering is the sale of new
stocks to the public from a company that has already made its IPO. We know the reason companies want to issue stocks, but why do people want
to buy stock? The main reason for people to invest in stocks is for capital appreciation or to maximize their own wealth. They want to increase their
money value over times. To do that, they will try to buy stocks at a low price and sell it at higher price at some point in the future. The investors
determined the value of stocks by the following: P/E ratio and PEG ratio. P/E ratio stands for Price/Earning ratio , the higher the P/E ratio, the more
earning investors will be expected to get from stocks , the

Achieving Fit For Corporate Social Responsibility

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