The Effects Of Subsidizing R&Amp;D Projects

The Effects of Subsidizing R&D Projects
The effect of startup businesses on economic wealth is a hot topic nowadays. Not everyone agrees
with the current policies concerning entrepreneurship and its effect on innovation, job creation and
economic growth. Shane is one of those people who clearly disagrees with current incentives given
by the government (Shane, 2009). According to him, policy makers should no longer motivate
typical start–ups by providing incentives to start a business like loans, subsidies and tax benefits.
This namely attracts marginal entrepreneurs that have a relatively high chance of failure. Instead,
policy makers should focus on the extraordinary entrepreneurs and help them by subsidizing R&D
projects at small companies. According to Shane, those funds are much more likely to contribute to
economic growth and to create jobs. In this paper, I want to address this topic and investigate
whether this really is the case. The research question that will be answered is:
Is it possible for governments to "pick winners" to supply with R&D subsidies and is this good
policy?
First of all, I will investigate whether it is possible to categorize entrepreneurs into 'winners' and
'losers' and subsequently I will analyze whether R&D funds really contribute to economic growth
and create jobs. Furthermore, I will comment on fairness problems and unfair competition that could
arise when providing funds to elected firms only. Shane's suggestion to improve current policies is
to reallocate resources and
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Advantages And Disadvantages Of Financial Leverage
Introduction
Investment on securities such as shares, debentures, bonds are profitable as well as exciting. It is
indeed rewarding but involves a great deal of risk. Shapiro (2006) describes the emergence and
growth of the market for derivative instruments can be traced back to the willingness of risk averse
economic agents to guard themselves against uncertainties arising out of fluctuations in asset prices.
Kawaller, the President of Kawaller & Company, LLC and Managing Director of the Kawaller Fund
in Brooklyn, NY (2008) analysed the prevailing scenario and stated that currency risk is an inherent
aspect of international commerce. Fortunately, for enterprises that function in this space–particularly
for those that transact with counterparties ... Show more content on Helpwriting.net ...
So a company should maintain a high level of interest coverage ratio (ICR) in order to meet its debt
obligations. A positive sign is expected between ICR and derivatives usage.
Liquidity
Nance et al. also argue that firms can reduce the expected financial distress and agency costs
associated with long–term debt by maintaining greater short term liquidity. The variable used as
proxy for a firm's short–term liquidity is the quick ratio. The quick ratio, a variant of the current
ratio, measures a firm's ability to repay short–term operating liabilities with readily available cash.
Underinvestment
Myers (1977), Smith and Watts (1992) have found that firm value depends on the future
opportunities. If there are lots of investment opportunities available to the firms, it seems that this
firm has the capability to generate more cash flow to the firm and to the shareholders. Consequently,
this will be reflected in the stock price. So, the value of a firm having much more investment
opportunities will be higher compared with the one of a firm with limited set of investment
opportunities, which is supported by the result form Allayannis (2001). As an indicator of
investment opportunities for the company, PPE, the ratio of a firm's capital expenditures for
property, plant, and equipment to total assets and R & D is the ratio

Venture Capital and Low Cost Production Essay
DermaCare has the potential of a successful business. They have taken several steps in the right
direction so far by obtaining patents that protect their intellectual property both for sale through
DRTV and the retail market and sourcing for low cost production costs. In addition, there are no
obvious loopholes in their business model. They have a proven product that provides a solution to a
large market of dissatisfied customers. Also, they are maintaining 400% margins by selling through
infomercials and websites direct to customers, therefore avoiding marketing and packaging costs
associated with retail distribution. However, like every start–up company, there are certain
challenges that may prevent them from being successful.
– There ... Show more content on Helpwriting.net ...
They will be advisable for them to invest even more in media up front (up to $500,000) to ensure
they achieve their milestones. Also they have not been earning any salaries and have invested
significantly in the business; one of the VC's suggested an annual salary of $225,000 per annum as
the CEO's salary.
Also they may require offering customers some form of warranty on the products as an incentive for
the customers to try the product for the first time,that will increase their cost at the early stage of the
business. The business will be self sustaining as soon as they can begin to achieve positive cash
flows on their business.
Evaluating the Financing Offers
Band of Angels LLC: The Band of Angels is a unique Venture Capital firm because it provides some
of the benefits that are typically only found with Angel Investors. Access to industry experts and
mentors for the founders is huge benefit. Typically VC backed companies usually have a
professional and efficient company because Venture Capitalists consistently push the founders and
CEO to achieve set milestones. They have access to a larger pool of investors and can invest more
capital if required. On the other hand, VC's drive a hard bargain and usually offer less favourable
terms. The Band of angels are
– VC's provide management

A Brief Look at Flipkart
Flipkart – History and Background: Flipkart is a private e–commerce company in India. The
company was founded in 2007 by Sachin Bansal and Binny Bansal, both were the alumni of the
Indian Institute of Technology Delhi. The company headquarters is located in Bangalore, Karnataka.
Filpkart Online Services Pvt. Ltd was formally incorporated as a firm in October 2008. This is the
company which made online shopping famous in India. According to Alexa Traffic Ranks, filpkart is
in 10 rank in India and globally it is in 143 rank. Flipkart first started selling books in its initial
period and later it started to sale products like electronic items, air conditioner, air coolers, mobile
phones and laptops etc. It also offered stationery items, life style products and e–books. Flipkart has
launched its own product range under the name of "DigiFlip" offering camera bags, pen–drives,
headphones etc. A book "Leaving Microsoft To Change The World" is the initial product traded by
flipkart. The payment methods opted by them are cash on delivery, online payment through credit or
debit cards. Further analysis about the initial investments, sources of funding and the entrepreneurial
life cycle of Flipkart is showed in my report. Entrepreneurial Life Cycle – A Brief Overview:
Entrepreneurial life cycle is a series of stages in the survival of a business, from its scratch till
present. This life cycle helps the entrepreneur to work in a systematic way and helps him to arrange
the rite amount

Impact Of Globalization On Non Institutional Investors
Impact on Non HFT institutional investors There is a severe variation of capital at risk of high
frequency trading when compared to capita at risk for institutional investors as noted by KF&Y.
Capital at risk is the total amount of capital that an organization deploys in all of its market positions
at any specific point of time, as defined by IRRC institute. A high frequency trader generally keeps
its capital at risk negligible. Although, HFT companies contributes for nearly 65% by volume in
equities, their capital risk is small. On the other hand, the institutional investors or non– high
frequency traders amount to a larger market ownership, more than 64% at the end of 2009. The
hypothesis is that a small percentage of minority ownership ... Show more content on
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There is no definite scientific proof for the same but there are some anecdotal evidences. It is
evident that the Flash Crash of May 6, 2010 was provoked by HFT resulting in the decline in
markets in a very short amount of time. However, it was a singular event, and thus, the assessment
cannot be verified that HFT caused a systemic disruption. Different HFT Strategies There are
primarily 3 high frequency trading strategies: Liquidity providing, trading the tape and Statistical
Trading. And each of these three strategies are classified further into two sub categories. 1.
LIQUIDITY PROVIDING Rebate Trading: This type of trading provides liquidity in stocks by
posting bids and offers in order to collect ECN rebates without requiring capital gains. It is most
prevalent in higher volume, lower volatility stocks and is capable of tolerating small trading losses
(Borchgrevink, 2015). Example: Post bid to buy shares, upon execution immediately post offer on
the inside market to sell position thus capturing rebate from ECN with or without capital gain
(Borchgrevink, 2015). Market Making: It attempts to reduce spreads by creating a more liquid
market and earns profit from the spread as well as ECN rebates for providing liquidity
(Borchgrevink, 2015). Examples:

Edward Jones in 2006
Executive Summary
This memorandum addresses some of the key issues with Edward Jones, which includes the lack of
an online presence, possible cannibalization from larger firms, and the inability to manage funds
from institutional investors. I conclude that the most effective of all of the theorized strategies would
be a combination of Edward Jones' original business model with an online platform. This plan
would allow Edward Jones to stay true to its fundamentals, as well as attract new clientele and
provide better service to its existing clients.
Introduction
Edward Jones has become the fourth largest brokerage firm in the United States. By holding on to a
fundamental business strategy based on the core concepts of close client ... Show more content on
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Edward Jones' average assets per account were $45,556 while Merrill Lynch & Morgan Stanley
was $163,667 and $137,111 respectively. Edward Jones leaves revenue on the table by not managing
higher net worth institutional accounts.
Available Strategic Options
Edward Jones' strategic direction in 2006 had to respond to competitors like Merrill Lynch if the
partnership wanted to maintain its exceptional performance and growth. The first option focuses on
staying true to Edward Jones' small–town roots and demonstrating the value of strong personal
relationships with one's financial advisor in planning for the distribution phase of life (Faux, 2014).
FAs can take advantage of face–to–face interactions and close relationships to communicate to
clients the importance of planning for the distribution phase as soon as possible and hopefully
encourage client referrals. Also, a professional advisor who personally knows the clients and their
needs provides critical support to keeping long–term retirement plans on track while still focusing
on time–sensitive decisions. This defensive move could stunt the firm's growth, and if it fails, could
leave Edward Jones even more vulnerable to cannibalization.
The second option shifts the company's original policies of strictly face–to–face interaction to a
hybrid model, which includes online account and portfolio tracking and current news and research.
This option adds value for existing customers because they can view

First Stage : Introduction For Your Business
First stage: Introduction to your business
Introducing your business to potential investors is one of the most daunting tasks you must do. But
if you prepare well and learn the secrets of the pitch, you don't need to worry about failing. Not all
the investor you pitch to will be interested in your business, but this isn't always down to you failing
the pitch.
When you are creating the first connection with investors, it's crucial to keep it simple, informative
and captivating. The key documentation you want to send the investor include:
The elevator pitch
The business plan
Sending an elevator pitch
First, you must generate the first connection. Whilst it's always a good idea to meet potential
investors face–to–face, you'll most likely contact them via e–mail at the start. Instead of typing
whatever comes to mind to your e–mail, you should always try to approach the e–mail through the
idea of the elevator pitch.
An elevator pitch is your chance to present the business and the opportunities it has for the investor
in a short amount of time. The name quite simply means you only have enough time for the elevator
to move from one floor to the other. If you can't spark the interest and imagination of the investor in
a few seconds, you probably won't manage to do it in an hour either.
What components are required for a good elevator pitch? Your pitch should always focus on the
following components, which are neatly discussed in an appropriate order:
A short and

Small Business Loans : Small Businesses And Star Ups Essay
Small Business Loans
When you want to start a business you need capital in order to run and steer the business to
profitability. There are many sources of financing start–up and small businesses can tap into to get
started. Financing usually varies depending on the source of financing as well as the size and type of
business you want to run. However, the process of securing funds to start a business is fraught with
many challenges. This problem has been compounded by the fact that many traditional banks have a
problem funding small businesses and star–ups. Below are main non–banking financing options for
startup businesses:
Grants – startups that are keen on research can apply for grants from governments and willing
investors. However, grant recipients must meet the laid down developmental and research goals. In
most cases, the advanced ideas must viable for commercialization.
Venture capitalists – small businesses that are already in business can tap into this form of financing
to expand their businesses into the next phase of growth. Most venture capitalists are focused on
specific growth industries; besides funding, venture capitalist also provide crucial business insights
and leads to business owners. For example, a business owner can be advised whether the product or
service he or she wants to sell will sell or flop. It is important to note that most venture capitalist
who lend money to small businesses offer short to mid–term borrowing of between 3 to 5 years.

Describe Sources of Internal and External Finance for a...
All businesses need money to function sufficiently. Where this money comes from is defined as
sources of finance. There are two different types of sources of finance: internal (capital from inside
the business) and external (capital from outside the business). New businesses starting up need
money to spend in long–term assets such as premises and equipment. They also need cash to pay for
materials, pay wages, and to pay the day–today– bills such as water and electricity. In–experienced
entrepreneurs often underestimate the capital needed for the everyday running of the business; this is
the reason many businesses fail due to cash flow issues even when profitable. Internal sources of
finance can be found in existing capital of the ... Show more content on Helpwriting.net ...
It also does not have associated costs, and doesn't have to be repaid, unlike loans, and finally it has
no interest charges. On the other hand, investing into the business may be limited which will
constrain the rate at which the business expands, as mine and my families resources are limited and
wouldn't meet start–up costs. Investing in external sources of finance can include using bank
overdrafts, loans and venture capitalists, all of which my business would use. Bank overdrafts are
good because my firm would only need to borrow as much as it requires when it needs it most. But
the disadvantage can include it being very expensive and banks can insist being repaid within 24
hours which can be a problem. Therefore this is mainly going to be used for occasional cash flow
problems, for example over tight times e.g. January and February. I would also use loans, as these
can be secured quickly and used in a large number of ways. However borrowing too much money
can lead to decreased cash flow and payments can even overtake income in some cases. Venture
capital's would also be a very good way to source finance externally, this is because usually want to
contribute to the running of the business and bring in new experience and knowledge which could
be vital to help the business grow. Whereas, they may require a substantial part of the ownership of
the company, which could be a disadvantage because they would be receiving a substantial
percentage

Gmo Case
Gmo: the Value Versus Growth Dilemma
GMO: The Value Versus Growth Dilemma |
1. What is value investing? What is its rationale? What are GMO's main arguments in favor of value
investing?
Value investing is a way of investing in company stocks that are considered either undervalued or
out–of–favor by the market. In other word, a value investment is one where the intrinsic value of the
stock is not accurately reflected in the current market valuation. The underlying reason of too much
decreasing in the stock price is that the company may be losing market shares or even in trouble due
to market's panic attributed to negative rumors as well as having management problems. Since the
market price has dramatically descended, the book to market ... Show more content on
Helpwriting.net ...
As a result, he will increase his retention rate, retain revenue, and also provide an opportunity for
new investors to invest in the "trendy" growth stock fund. In addition, if GMO invest in growth
stocks, it will increase the diversification of the overall portfolios; which is that when value stocks
are doing well, it will help offset the growth stocks that are performing poorly and vice versa. Most
importantly, GMO must provide adequate knowledge of growth stocks investing to its clients before
allowing them to invest in them. This will prevent future problems, such as clients complaining
about major losses if growth stock crashes one day.
4. Why wouldn't GMO include Cisco Systems, an otherwise excellent company, in its portfolio at
this time? Why is it willing to consider CVS or R.R Donnelley? What are the long–term expected
returns for those stocks? Support your answers by examining P/E ratios, price–earnings growth
(PEG), and other metrics that may be relevant to the decision.
According to the calculations below in Table 1, we analyze each company with the Book–Market
(B/M) ratio, Price–Earnings ratio (P/E), Earning per Share (EPS) growth rate and a projected EPS
for year 2003 and 2005 using the LT EPS growth rate.
Table 1: Ratio Analysis – Cisco, CVS, R.R., Manor, S&P 500
Stock(year 2000E) | B/M ratios | P/E ratios | EPS | LT EPS Growth Rate | 2003 LT EPS | 2005 LT
EPS |
Cisco (CSCO) | 5.01132.06=0.038 | 132.061.17=112.87 | 1.17 | 30% |

In the modern finance theory , behavioral finance is a new...
In the modern finance theory , behavioral finance is a new paradigm , which seeks to appreciate and
expect systematic financial market influence of psychological decision making ( Olsen R A, 1998).
In the recent studies irrationality in the decision making was revealed , based on certain cognitive
limitations. The present chapter is divided into two aspects
According to traditional models in finance and economics, human beings are rational while taking
their decision. However the recent studies explain that decision making is based on certain cognitive
limitations. As the information's are overloaded, we will be applying certain short cuts or heuristics
in order to take a decision. The most important heuristics in the representativeness ... Show more
content on Helpwriting.net ...
Essentially, behavioral finance attempts to explain the what, why, and how of finance and
investment, from a human perspective" (See figure 2). (Shefrin, 2000) however, mentioned the
difference between cognitive and affective (emotional) factors: "cognitive aspects concern the way
people organize their information, while the emotional aspects deal with the way people feel as they
register information" . Figure 2 The Underpinning of Behavioral Finance
Source: (Victor Riccardi & Helen K Simon, 2000)
PSYCHOGRAPHIC MODELS
Models are designed to classify people according to certain characteristics, tendencies or behavior..
Psychographic classifications are particularly relevant with regards to individual strategy and risk
tolerance. The useful models of investors psychographic were Barnewall (1987) and Bailard, Biehl
and Kaiser (1986).
Barnewall Two way model (Barnewall, 1987)
This is one of the most previous and most prevalent investor model based on the work of Marilyn
MacGruder. Barnewall distinguished the investors into two types : passive investors and active
investors.
Passive investors are those investors those who have become wealthy passively –by inheritance or
by risking the capital of others rather than their own capital. They have a greater need for security
than they have tolerance for risk. Occupational groups such as corporate executives, lawyers,
Chartered Accountants,

Purinex Corp.
Case Study: Purinex, Inc.
Introduction
The case asks for evaluation of different financing options. Gilad Harpaz is Purinex's CFO and he
needs to determine which one from the three options provides lowest risk, highest company value,
and short term cash for operations. Purinex is a biotechnological company that has 35 patents
pending in pharmaceutical field. It is one of the raising stars that may develop new drug for specific
use in diabetes and sepsis. Company has 14 employees. Monthly burden is $60000; company has
available cash of $700000 which will last up to 12 months.
Solution
Company should proceed with two options at the same time, of course, if this is possible. Those are
pursuing the partnership with a "Big Pharma" company ... Show more content on Helpwriting.net ...
The company planned to take its new receptor–selected drugs into clinical trials to address a broad
range of potential indications. In June 2004, the company with several clinically and commercially
promising drugs in development had reached a turning point. Sometime in the next four to twelve
months, the company stood an excellent chance of establishing a partnership with a major
pharmaceutical company. That partnership would enable Purinex to develop one of its leading
compounds into a drug for the treatment of the world's deadliest and most widespread diseases.
Gilad Harpaz, Purinex's chief financial officer believed that if a partnership deal came through, the
company would be in an excellent position to carry out its mission. Moreover, securing a deal was
practically a prerequisite for any eventual initial public offering, which was an attractive exit
strategy for many of the company's investors. Harpaz also believed that the company could either
attempt to secure financing now or wait until it struck a partnership deal. He has three options to
consider for the company which he...
Analysis of alternatives
1. Venture Capital
If Purinex decided to raise a one time round of financing from a venture capital firm there would be
a significant amount of restrictions. There would be preferences for things like board appointments,
anti–dilution rights, liquidity, participation, and positive

Auditor Choice and Institutional Investor Choice after the...
The institutional investor, who has owned significant amount of investment concern with monitoring
duties of management, as they gain benefit from it. They require high quality of information and
have a power to carry out financial analysis. Their monitoring role become important since there is
increase in agency conflict between managers and shareholders. The institutional investor tend to
pressure manager in order to protect shareholder interest. Since the institutional investor need to
control their investment and assess portfolio choice, they need reliable accounting information. The
reliable accounting information came from annual report, as annual report provide assurance on firm
health and performance. Therefore, annual report give impact to market reaction, so do the auditors
brand name and their reputation. Big 4 audit firm who have good reputation, considered as good in
delivering audit quality. Big 4 audit firm consists of Deloitte, PricewaterhouseCoopers, Earnst &
Young (EY) and KPMG. Based on research, Big 4 audit firm may help their client to reduce agency
conflict and lead to lower agency cost. Besides, Big 4 audit firm give the firm confidence to detect
fraudulent financial statements and help to reduce information asymmetry (Azibi, Tounder, & Rajhi,
2010). Research show that the institutional investor from French company tend to favour Big 4 audit
firm, as the shareholder suffer lack of legal protection. Undeveloped financial security system make
the role

Case Analysis : Corporate Venture Capital Of Eli Lilly And...
Introduction Colonel Lilly founded Eli Lily and Company in 1876, because he felt there was a lack
of high quality medicine on the market at the time. He also felt the most medicines on the market
were ineffective in the curing of ills. In the case "Review Corporate Venture Capital at Eli Lilly and
Company", describes the issues surrounding Eli Lily and Company venture capital arm by showing
the struggles the company went through in establishing a corporate venture capital fund. It takes you
through the choices that were made keeping in mind the benefits to Eli Lilly and Company as well
as keeping the Venture Capital arm separated from the company. This allowed Eli Lilly and
Company to benefit from its investments, and kept the ... Show more content on Helpwriting.net ...
1. Enabling Technologies: Tools and platforms that enhance the drug discovery and development
process
2. Horizon Therapies: Emerging an novel therapies.
Lilly BioVentures utlizied Eli Lilly and Companies network for its deal flow. Once a potitail start–
ups was picked Lilly BioVentures would assess the risks and check the star–ups background. It also
became a resource for its portfolio start–ups, which was a plus for start–ups entering in to a deal
with Lilly BioVentures. The goal of Lilly BioVentures was to operate like a venture capital firm as
much as possible. Schalliol emphasized: "Our goal was to make money, to beat the corporate hurdle
rate. We described ourselves as financial investors in areas of strategic interest." Many of the deal
that Lilly BioVentures entered in to was though a syndicate, which brought more funds form other
venture capital firms as well as different expertise for the start–up. Through these types of deals Eli
Lilly and Company was able to gain competitive advantage over its rivals.
Question 1: What is the Role of Corporate Venture Capital? Corporate venture capital (CVC) is the
act of investing in companies with a variety of equity and licensing deals. CVC has two goals. First,
is to improve the strategic position and core competence of the parent company. Second, is to create
financial returns for the parent company through new products, procedures and services. These two
goals and be best explained with the example form

Corporate Assignment Abdisamad Essay
Student ID :
CGSSO00015316
Student Name :
Abdisamad Abdullahi Abdulle
Course Code :
BMCF5103
Course Name :
Corporate finance
Program :
Master Of Business Administration MBA
Semester :
Five
Assignment :
Answers
Facilitator :
Ibraahim Moh'ud Hamud
Date due :
12 Nov, 2014
Submission Date :
12 Nov, 2014
1.0 QUESTIO N ONE
1.1
Introduction
3
1.2
Value maximization and other goals
3
1.3
Customer and employee safety
4
1.4
General goodness of society

4
1.5
Conclusion
5
2.0 QUESTION TWO
2.1
Introduction
6
2.2 Corporate ownership
6
2.3
Agency problem
8
2.4
Conclusion
8
3.0 QUESTION THREE
3.1
Introduction
9
3.2 The ... Show more content on Helpwriting.net ...
Maximizing value does not mean that a firm has to be illegal and social outlaw.
1.4 GENERAL GOODNESS OF SOCIETY
According to Bratton and Wachter (2013) found that Shareholder value maximization is broadly
associated with social welfare maximization. Those who make the relationship tend to go on to state
that management agency costs are extreme and that increased shareholder power would reduce the
costs. Reduced agency costs by definition enhance shareholder value, which in turn is assumed to
imply social welfare enhancement.
Bratton and Wachter (2013) also found that the shareholder interest, as the outstanding right on
corporate wealth, is straight aligned with society's interest in maximizing corporate–and therefore
societal–wealth, and so the shareholder interest succeeds for political attentiveness. In current years,
the mission for political attentiveness has made the jump from theory to practice: a "shareholder
class" is said to have risen in our political economy as a side–shoot of the growth of stock
ownership among the middle class. Therefore, real–world shareholders again are seen to bear on
social welfare.
In a same concept, according to Dolenc, stubelj and Laporšek (2013) value maximization within a
company can result to social welfare maximization. Social welfare is created when a firm produces
outputs that are valued by its customers at more than is the value of inputs for their production. As
long as the firm is capable of selling its outputs at

Chameleon Shoes Sources Of Capital
Chameleon Shoes Sources of Capital Every business needs some form of capital investment hence
the need for entrepreneurs to identify reliable sources of financing. The chameleon shoes venture,
being a new business opportunity will require reliable sources of capital. In fact, the chameleon
shoes business will require finances to purchase assets and for its working capital operations. As
such, this paper seeks to explore various sources of capital with particular interest on venture capital
as well as their pros and cons.
Potential Sources of Capital Personal savings is the first potential source of capital for investing in
the chameleon shoe venture. Personal savings especially money put aside in a bank is easily
accessible and is very instrumental in starting off the business venture (Castellani et al., 2013).
Actually, personal savings are important because they can be used to develop one or two pairs of
chameleon shoes which will act as samples. Using personal savings to come up with samples of the
chameleon shoes helps in pitching the product and making it possible to expand the capital outlay by
attracting potential investors. Therefore, the pros for personal savings are its ease of accessibility
and its ability to assist an entrepreneur pitch a product in the early stages. Unfortunately, personal
savings has shortcomings because it is often inadequate or the amount may be too small to make an
impact. Moreover, angel investors are a suitable

Heather Evans
What does Heather have to do tocapitalize on opportunity?
Produce designs consumers want
Line up retailers and advertising support
Get items produced and delivered on time
What are advantages of opportunity?
Little capital needed
Good market niche: Unserved,fragmented, and growing
What are key factors forsuccess?
Design sense
Ability to sell retailer design
General management
Ability to manage cash, production,delivery, and quality
What is the upside?
Lots of expansion potential in"niche"
Costs of operations mostly fixed
Don't need to control ––Production––Cutting, Sewing, Shipping,infrastructure built up in industry
toallow people to do just what she isdoing.
Low working capital need
Possible risks include: ... Show more content on Helpwriting.net ...
Selling clothing is hard when not presented well
Problem Analysis Heather Evans is a very recent graduate from Harvard Business School and has
been working on getting her venture off the ground for quite some time. She has the know–how and
skill in her industry but not the funds. This is why she is seeking out investors. This is proving to be
more difficult and time consuming than she had anticipated. I think most people have this
experience at one time or another especially if they are starting their own business. The great ideas
of the world do not always get all the support in the world. To make matters worse, Evans has
invested plenty of her personal funds in the business and has hired a few employees. In essence she
has put a lot of skin in the game. So there is no option of just deciding that the venture was not a
success. To put the icing on the cake it seemed for a little while that Evans had found a sole investor.
However after seeing the unprofessional manner and lack of attention to Evans that was shown by
the investor, Evans decided not to pursue the possibility of this investor. Without fund Evans may be
forced to abandon the venture. And time is pressing against her. With a lot of personal funds already
invested she has a limited window of time that she will have before she will not have enough money
to sustain herself while the business grows to where she could take a salary

International Economics And Trade On My Sophomore Year
One of the most important decisions I have made is transferring my major to International
Economics and Trade in my sophomore year. From then on, I find my potential to be a quick learner.
In my new field study, I had to adapt to the brand–new subject in a short time. Although my
foundation was weaker than my classmates, I studied more profession courses than them, about 25
hours per week. Besides, I paid more attention to business practice and spent an extra 18 hours on
extra–curricular activities every week. It was under this circumstance that I completed all the
required courses within two years, which took my classmates three years; the final GPA was 3.2,
which ranked top 22% in the class, and my annual GPA kept increasing to 3.7 in my ... Show more
Second, I also learnt how to bring forward innovation and put it into practice. Through inviting
experts to teach farmers breed bees, we helped beekeepers adopt the new technique to achieve mass
production, successfully developing a new product– honey comb that could make a higher profit.
Last, this experience also taught me how to utilize core competence. As students who were for
public benefit, we easily won more support from the society, which facilitated many business
cooperation chances for farmers. Fortunately, based on the model and outcome of project, our team
won runner–up out of 200 prestigious universities in the Enactus National Competition in 2015. At
that time, I was sure that entrepreneurship was all about catching the opportunity, taking action and
pursuing success. What further honed my entrepreneurship was my following entrepreneurial
experience. After evaluating the honey comb, I found a market opportunity: there were more
targeted customers and fewer competitors; besides, the profit margin of honey comb is 30% higher
than that of honey. Consequently, I co–founded a honey product brand, Chasing Man, with three
other partners. We improved the product by giving up plastic that was widely used as the pack of
honey comb, and by pouring 60% of the money into bamboo–made pack that had

The Trading Dynamics of Institutional Investors
The fraction of corporate equity owned by institutional investors has grown considerably in the past
several decades; institutional holding of shares in U.S. equities has increased from approximately
16% in 1965 to over 50% in 2010 (Federal Reserve Board, 2011). The fact that institutional
investors are managing such a sizable wealth invested in U.S. equity market has potential important
role in term of setting market prices. The growing impact of institutional investors on capital
markets has induced to increased research on the behavior of this group of investors both by
academics and policy makers, who tend to believe that institutional investor follow momentum
based strategies, and often are alleged to herdinglike behavior and following destabilizing trading
strategies.
Recent studies investigating the behavior of institutional investors document three main results.
First, institutional investors are momentum traders (buying past winners and selling past losers) and
are more likely to follow past prices (citet*{grinblatt1995momentum}). Second, Institutional
investors sometimes trade in the same direction over a period of time or engage in herding behavior
(citet{wermers1999mutual}). Finally, the contemporaneous association between changes in
quarterly institutional holding and quarterly stock returns is much stronger than the feedback trading
effect (citet{nofsinger1999herding,wermers1999mutual}).
The previous studies on the behavior of institutional investors

Neverfail Computing
Do you think that Tim Delaney possessed necessary characteristics to become a successful
entrepreneur by February 1993? Since his youth, Tim Delaney was a hard–working and determined
person which continued to demonstrate during his path. Before starting University, he did labour
work which steeled his determination to "being paid to think". He showed a lot of flair and creativity
during his studies and won a first prize for best business plan. His undergraduate in
Entrepreneurship & Marketing empowered him with the technical knowledge required to start his
own business. We should also underline his long term vision, demonstrated by him changing jobs to
a lower paid one (from 9$/hour to 6$, a 33% cut) in order to understand the IT ... Show more
Beside George, Neverfail obtained financing from an investor from Seattle, who made an initial
offering of $50.000, followed by a second one of $100.000, one year later. In our opinion Neverfail
was not ready for the initial external financing, they didn't have the appropriate strategy or
innovative projects in that moment. However, to grow the company needed expand its sales (besides
the related with big distributors). Therefore, money obtained from Business Angels where invested
almost totally into Sales. Looking at the Neverfail's Statement of Operations from March 1994, we
can notice that SG&A constituted approx. 92% of all operating expenses while the other 8% was
generated by R&D. In the financial year ended March 31, 1994, Neverfail had a current ratio of 1.12
and the acid test showed that its current assets minus inventories can cover only 0.63 times its
current liabilities, what is a bad signal taking under consideration the fact that George acted already
in that time as a factor. Since the company´s products were directed to a low–end market, its gross
margin was low (32% of revenue). The productivity of Neverfail, measured by total asset turnover,
was equal to 2.48 and its inventory turnover to 6.27. Neverfail decided to raise the money since its
strategy, whilst profitable from day one, did not generate the target funds which were extremely
necessary to

Explain what sources of finance are available for small to...
Content
Introduction 3
1 Some important financing sources for SMEs 4
1.1 Different stages in raising finance 4
1.2 Venture Capital: a light of hope for the SMEs 5
1.3 Leasing and Factoring: special survival skills 7
2 Difficulties for SMEs in raising finance 8
2.1 Biggest trouble: lack of credit records 8
2.2 Capital constraints 9
2.3 Other barriers 10
3 Conclusion 10
Reference 11
Explain what sources of finance are available for small to medium sized companies and explain why
they sometimes face difficulties in raising finance
Abstract: This article examines which types of finance are more suitable for the SMEs, also
analysing the disadvantages on them when raising finance. Unlike the large companies, ... Show
more content on Helpwriting.net ...
Thridly, indirect financing. This kind of financing is not welcome for the SMEs, for most of them
are short–term and long–term loan, and the ways of loan are contained mortgage loan, guaranteed
loan, unsecured loan and et at.
1.2 Venture Capital: a light of hope for the SMEs
Venture capital(VC), which is known as the risk investment, shows significant role in promoting the
SMEs in raising finance. VC includes business angel financing, relationship lending and so on. All
of them are good choices for SMEs, specifically for the small and medium companies which are just
starting up.(Dagogo, 2009) "Venture capital is the fuel for high potential growth firms, especially in
the United States. New venture survival is tenuous at best, but those backed by venture capitalists
tend to achieve a higher survival rate than those that are not." said by Robert(2010), moreover, in his
study shows " survival for venture capitalists backed ventures range from around 65 percent to 85
percent of the venture capitalists' portfolio." If SMEs managers can get help like this, they would
have more chances to develope. Having a overview on the SMEs, they have nothing but the
companies, without large amount of capital or collaterals.VC might be a better method of

Analysis Of Short-Term Institutional Investors And...
tariffs. This result appears to contradict pre–existing research that argues that short–term investors
influence managers to pursue corporate policies that are sub–optimal. However, Giannetti and Yu
argue their results are consistent with the prior research, which implicitly assume a static
environment, as it is only under negative shocks that companies benefit from short–term
institutional ownership. That is, short–term investors motivate companies to react much faster to
adverse shocks leading to better performance in this environment. However, one limitation from
their results is the focus on the proportion of short–term investors and the proportion of institutional
investors in aggregate. That is, they do not explicitly consider the ... Show more content on
Helpwriting.net ...
Supporting this argument, Cella (2009) provides evidence that higher ownership by long–term
institutional ownership is associated with a subsequent decrease in investment for firms that over–
invest. Lastly, Chen, Harford and Li (2007) provide evidence long–horizon institutions with
concentrated holdings are related to more successful post–merger performance. 2.6 The Influence of
Institutional Investors on Divestitures and equity payout: There is also significant research on why
firms divest, however there is insufficient investigation of the link between different types of
blockholders and subsequent divestment decisions. For example, Bates (2005) considers the use of
cash proceeds following subsidiary sales between 1990 and 1998. In his study, he considers the
proportional ownership of insiders on the likelihood of retaining versus payout to equity or
debtholders. Considering these individuals have substantial ownership stakes, he examines a subset
of large equity ownership. Overall, Bates provides shows mean inside ownership is higher for firms
which pay out proceeds (6.8%) compared to firms which retain proceeds (5.5%) from divestitures.
This is consistent with the argument insider equity ownership, by aligning incentives of insiders
with shareholders, mitigates managerial agency costs. This is supported by past research that
documents positive shareholder

Is Crowdfunding A Viable Alternative For Your Startup?
Is Crowdfunding a Viable Alternative for Your Startup?
There are a million things to consider when starting a business of your own, from the product or
service to the officers, to the work flow, and of course, the funding. It's a great moment when you
finally nail down your business model, get your paperwork filed, and get all of your excited people
working in the trenches, but none of that happens without dollar signs. Money is a delicate subject
when it's your own, let alone when it's not, and you have to be extra vigilant at the beginning of a
business launch, when there's so much to remember and it's so easy to be overwhelmed when you're
allocating your resources.
Following the Money
You're not rich. If you were, you wouldn't be ... Show more content on Helpwriting.net ...
Angels are usually using their own funds, which presents a sizable risk, considering the sheer
number of startups that don't make it past the first five years.
Provided that you find the Angel investment to hold you over until your startup begins to attract
interest, the next step in the traditional funding chain is venture capital. This usually takes the form
of a fund containing the joint funds of multiple investors, under the professional management of a
venture capitalist. By this time, the dollar signs are much bigger, with a floor of somewhere in the
neighborhood of a million or two dollars, US, as smaller investments are difficult or impossible for
venture capitalists to make at this level.
That's the traditional route. And that's if you have the timing, luck and interest to line up funding
from these three stepping stones. But there is another way to fund startups and other endeavors
without necessarily going through the first or second step described above.
Crowdfunding is More Than a Shortcut
As recently as five or six years ago, crowdfunding was just taking root. There was Indiegogo. There
was Kickstarter. There weren't many others that were established. Today, there are upwards of 500
different crowdfunding sites, a fairly comprehensive list of which is online at

Gmo Value Investing
Gmo: the Value Versus Growth Dilemma Ferret out – reveal Laggard Overlook–ignore GMO: The
Value Versus Growth Dilemma | 1. What is value investing? What is its rationale? What are GMO's
main arguments in favor of value investing? Value investing is a way of investing in company stocks
that are considered either undervalued or out–of–favor by the market. In other word, a value
investment is one where the intrinsic value of the stock is not accurately reflected in the current
market valuation. The underlying reason of too much decreasing in the stock price is that the
company may be losing market shares or even in trouble due to market's panic attributed to negative
rumors as well as having management problems. Since the market price ... Show more content on
Helpwriting.net ...
chemicals, consumer products | –Internet and emerging technology | Dividend Policy | –Pay out
dividend to shareholders in profitable period | –100% plowback to reinvest in the business | Book–
to–market ratio | –High | –Low | Price–to–earnings ratio | –Low | –High | Merits |

My New Cyber Security Companies
Are you an angel investor in cyber security companies? Are you currently fund raising for your new
cyber security company? Do you work in venture capital and invest in cyber? If you 've answered
yes to any of these questions then you are are either producing slide decks which are too long or you
are spending time looking at slide decks which are too long. Last year, I switched from being a
cyber security executive to a venture capitalist focusing on early stage cyber companies. I had
always been supportive of the start–up community and had done a bunch of angel investing. In 2016
I started focusing on angel investing full time and in 2017 I launched Gula Tech Adventures which
is a fund focused exclusively on cyber security. Over the past ... Show more content on
Helpwriting.net ...
Saying that you 've solved cyber security, you increase ROI, .etc isn 't enough to get an investor
excited these days. Their next question will be "how?" or "so what?". If your "What" slide helps you
differentiate from your competition, this makes it easier for an investor to get excited. Honesty and
humility also goes a real long way with investors. Calling out exactly what your advantages are is
something a venture capitalist or investor can work with. SLIDE TWO – THE "HOW" In one slide,
describe how you do your "what" without giving away any proprietary secrets but conveying your
ability and comprehension of the problem. Many pitch decks I see completely skip the "what" slide
and start with the "how". I see many entrepreneurs dive right into the "how" as a first introduction to
their company. This can be hard for an investor to figure out exactly why you are doing something
or why a customer would want to spend money with you on your solution. The "how" slide should
answer many of the basic questions without being evasive. Questions that need to be answered
include: Cloud or on–prem. Which components are cloud? Don 't say artificial intelligence or
machine learning. Instead be specific where you algorithms run on which data and how they
manifest in the customer. Agents or no agents? How is it deployed? If you parse logs, which vendors
are supported? If you have open source or commercial components, call them out. If it is a cloud
solution, does

Gordon Biersch Case Study Essay example
Gordon Biersch Case Questions: 1. Identify the key factors responsible for the success of Gordon
Biersch to date. What concerns, if any, do you have as the company looks ahead? 2. Evaluate
Gordon Biersch's organizational alternatives to realize its growth ambitions. Recommend a course to
follow? 3. Evaluate Gordon Biersch's efforts to raise outside capital. What would you have done
differently? 4. Which offer, if any, should Gordon Biersch accept? Why? How should they proceed?
5. Assume for discussion purposes that Lorenzo Fertitta's proposal is the preferred option. What are
the key issues for Gordon and Biersch to negotiate? What positions should they take on each one?
Table Of Content: Case Summary ... Show more content on Helpwriting.net ...
The fourth site was Pasadena in 1993 which was more challenging due to its further location and
was not an immediate success. Gordon Biersch attributed the sluggish start of this site to the low
visibility of the location. However, this did not stop them from moving forward and in November
1994 Gordon Biersch opened in Honolulu which quickly became the top–grossing restaurant in
Hawaii. The next project was bottling Gordon Biersch signature beer and retailing it. This had three
biggest challenges: this project was entirely Gordon's baby and demanded time and attention;
secondly the freshness of the bottled beer versus the freshly brewed was an issue for which they
decided the beer would have a shelf life no longer than three months. Thirdly and the most exciting
challenge was the head–to–head competition with other microbreweries and premium beers. Despite
the tough competitive environment, Gordon Biersch aimed to achieve 11% of the market in three
years (by 1996). This retail venture required huge investment, thus they decided to start small to
prove to the investors that they could pull it off. Gordon Biersch had extensive growth plans of
opening over 100 restaurants across the nation with in 8 to 10 years. However, the growth they
envisioned demanded a lot of time, dedication and expertise. They debated upon three different
organizational approaches (1)

Different Approaches to Corporate Reporting Regulation
This article was downloaded by: [University of Nottingham–Ningbo] On: 12 January 2013, At:
20:16 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number:
1072954 Registered office: Mortimer House, 37–41 Mortimer Street, London W1T 3JH, UK
Accounting and Business Research Publication details, including instructions for authors and
subscription information: http://www.tandfonline.com/loi/rabr20 Different approaches to corporate
reporting regulation: How jurisdictions differ and why Christian Leuz a a b c d J. Sondheimer
Professor of International Economics, Finance and Accounting, University of Chicago Booth School
of Business, 5807 South Woodlawn Avenue, Chicago, IL, 60637–1610, USA E–mail: b c d ... Show
Moreover, there has been a concerted effort to converge countries' reporting standards. But despite
this effort substantial differences in countries' reporting regulation and practices remain. This paper
explores these differences and the reasons why they exist as well as why they are likely to persist in
the foreseeable future. My analysis and comparison are conducted at a fairly high level to emphasise
that reporting regulation is a part of a country's broader institutional framework. Throughout the
paper, I give special emphasis to enforcement issues because of two related reasons. *The author is
the J. Sondheimer Professor of International Economics, Finance and Accounting at the University
of Chicago Booth School of Business, a research associate at the National Bureau of Economic
Research, Cambridge, MA, and at the European Corporate Governance Institute, Brussels, and a
Fellow of the Wharton Financial Institutions Center, Philadelphia, PA. This study was prepared for
the ICAEW 'Information for Better Markets' Conference in London in December 2009. The author
thanks Hans Christensen, Luzi Hail, Arnt Verriest, Ken Wild, and Peter Wysocki for useful
discussions and comments. He also thanks the Initiative on Global Markets at Chicago Booth for
research support as well as Denis Echtchenko for providing excellent research assistance, and is
grateful to an anonymous reviewer for constructive comments. Correspondence

Essay On Netboarding
Capturing the investors' imagination with your pitch deck
Now you have the building blocks of a great deck.
You've seen examples of the slides that work and why they work.
You are aware of the information investors want to see, why they want to see it and how you can
convey it convincingly.
But how do you put these elements together?
What are the fundamentals of a winning pitch deck?
It's time to pay attention to the finer details – combining your slides and the information about your
startup with a good storytelling structure.
As I've outlined before, your pitch deck must tell a story – it must not be a list of figures and facts
but an engaging journey down the path your startup is on – from the idea to the business.
So, you need ... Show more content on Helpwriting.net ...
And it worked, as the startup raised $500k with the pitch deck.
They tell a story
Pitch decks tell stories.
And stories often follow a specific structure, which you should use as the basis for your deck.
The winning storytelling formula comes in the form of Freytag's Pyramid:
ADD IMAGE
So, what does it mean for your pitch deck?
Let's look at the possibilities it offers in its purest form:

THE EXPOSITION – INTRODUCE THE TEAM AND THE COMPANY PURPOSE (VISION)
INCITING INCIDENT – OUTLINE THE PROBLEM
RISING ACTION – SET OUT THE CURRENT MARKET, COMPETITION
CLIMAX – PROVIDE THE SOLUTION, SHOW THE UNIQUE VALUE PROPOSITION
FALLING ACTION – INTRODUCE THE FINANCIALS
RESOLUTION – OUTLINE THE BUSINESS MODEL, FUNDRAISING STRATEGY
DENOUEMENT – TALK ABOUT TRENDS AND FUTURE PREDICTIONS
That's the basic composition for a good story and a solid way of structuring your essential slides.
However, you can change the impact of your story focusing on how you tell the story, even if you
don't fundamentally change the structure of the slides.
Soren Petersen and Steven Bussard brought up two great examples of this in their blog post 'Using
Storytelling to Pitch Startups'.
They used the slides introduced by Guy Kawasaki and noted that by changing the structure slightly
and focusing on how you engage the listener, you can create different types of stories.
First, you could tell an origin story – emphasising how things started with your

General Solicitations And Sell Securities
General Solicitations in Rule 506 D Securities To offer and sell securities in the United States, an
issuer must comply with the registration requirements of the amended Securities Act of 1933, or
must offer and sell the securities pursuant to an exemption from the registration requirements. Rule
506 of Regulation D is commonly used as a private offering exemption. In 2013 the SEC lifted the
ban on general solicitation or general advertising in specific private offerings of securities.
Considered the "final rule", it represents a compromise in many respects. Businesses who wish to
raise funds will have greater opportunities for fulfilling their goal with the lifting of the ban.
However, compliance requirements must also be satisfied in the process. The final rule doesn't apply
to all private securities offerings. Businesses are required to meet numerous requirements such as
selling only to accredited investors, taking logical steps to verify each potential investor is
accredited, and follow the other terms and conditions of a Rule 506 securities offering. For example,
issuers should realize that nothing in the amendments to Rule 506 affect the obligation of the issuer
utilizing the safe–harbor to make full and complete disclosure regarding the offering. All items
considered material regarding the offering are still required to be disclosed in writing prior to the
sale of securities under the safe–harbor, regardless of whether general solicitation or general
advertising is

Institutional Markets : Institutional Investors
Institutional investors are any organizations or persons which collect quite number sums of money
to invest in securities and also control a collection of share amounts to qualify for special treatment
and less regulation. They can also include operating companies that decide to invest their profits to
some degree in these types of assets. Insurance companies, mutual funds and pension funds are
some examples of institutional investors. These institutional investors need to face some regulations.
"Institutional investors always participate in private placements of securities due to their
sophistication, in which certain aspects of the securities laws may be inapplicable."
These institutional investors play role in the economy is to act as highly specialized investors on
behalf of others. For example, an employee will have a pension from his employer as the employer
gives that person 's pension contributions to a fund and the fund will be used to buy shares in a
company, or some other financial product. Funds are greatly useful because they will hold a broad
portfolio of investments in many companies. This spreads risk, so if one company fails, it will be
only a small part of the whole fund 's investment.
Types of Institutional Investors in United Kingdom.
In Britain, pension funds have become the largest single category of institutional investor, gradually
increasing from 3% of the market in 1957 to 31% in 1992 as they have largest corporate pension
plans with supported

Warren Buffett's Current Success
Warren Buffett's Background
Warren Edward Buffet was born on August 30, 1930 in Omaha, Nebraska, United States of America.
Son of a local stockbroker, from a very young age Buffet grew an affection for money and
investments, at the age of eight he began reading his father's book on the stock market (Hagstrom,
2005, pg. 2). He obtained a Bachelor in business administration at the University of Pennsylvania
and then he went on to Columbia University, where he earned a Masters in economics. His time at
Columbia University was the stepping stone to his current success. He was mentored by one of the
most acclaimed investors of all time, Benjamin Graham, that not only helped him reach where he is
today but also obtain a different perspective when investing in firms.
Warren Buffett with 84 years old is still active in the business world. Recently, Berkshire Hathaway
bought the Duracell for a $4.7 billion and Warren Buffett, as always, took part in the acquisition
(Gara, 2014).
Warren Buffett's Main Ideas
During his university life and career, Benjamin Graham remained Buffet's foundation for success.
The Intelligent Investor, written by Graham, is described by Buffett as the best investment book to
date (Graham and Zweig, 2003, pg. ix), and is the foundation of Buffets' unique concepts in
investment. Graham throughout 400 pages underlines what is necessary for an investor to succeed in
the stock market, with Graham's ideals and his unique expertise Warren Buffet was able to develop

Speech On Pitch Deck Structure
So, you've broken the ice and given the investor a killer elevator pitch on your business idea.
You've hooked them in with your idea and the possible gains the investor might enjoy by hopping on
board.
So, what now?
Just hand over the checkbook?
Well, not quite.
You now have to delve deeper to drawing in the investor and impressing them with a pitch deck.
In the first part of this guide, I've introduced you to the concept of pitch deck and the best time to
present it to investors.
Let's now turn attention to how you should build and structure your pitch deck.
To do this, I'm first going to introduce you to the most common pitch deck structures out there and
with those in mind move on to exploring the building blocks of a good ... Show more content on
Helpwriting.net ...
Instead, different deck structures can create just as meaningful impact as others.
So, let's look at the four examples.
Guy Kawasaki – Simplicity at the core
Guy Kawasaki was evangelising Apple when other people weren't.
I'm throwing it out there, because it shows the guy is about innovation and he has an eye for
knowing when a business works.
He's been involved in countless companies from Mercedes–Benz to Garage.com.
He knows about VCs because he founded a matchmaking service to connect investors with

entrepreneurs.
It's no wonder then that his pitch deck is often the most cited template for pitching to VCs.
Kawasaki's reputation in the business world oozes knowledge.
So, what does a man behind so many successful ventures advocate in terms of pitch decks?
Simplicity.
He follows his 10/20/30 rule of PowerPoint. This means, you have a pitch deck with ten slides, your
pitch lasts no longer than 20 minutes, and the font can't be smaller than 30 points.
How does Kawasaki structure his files?
TITLE – THE NAME AND CONTACT DETAILS
PROBLEM/OPPORTUNITY – WHAT YOUR STARTUP IS TRYING TO SOLVE AND HOW
YOUR SOLVING IT
VALUE PROPOSITION – THE WAY YOUR SOLUTION OFFERS VALUE
UNDERLYING MAGIC – THE SECRET FOR YOUR STARTUP (TECHNOLOGY, PRODUCT,
SERVICE, ETC.)
BUSINESS MODEL – HOW YOU MAKE MONEY AND PIE STRUCTURE
GO–TO–MARKET PLAN – HOOW YOU WILL REACH THE CUSTOMER EFFICIENTLY
COMPETITIVE ANALYSIS – EXPLAIN THE COMPETITIVE LANDSCAPE
MANGEMENT TEAM – INTRODUCE THE TEAM,

This Game Was Surely Created To Be An Educational Process
This game was surely created to be an educational process for students, and other people who want
to learn about the stock market and how it works. It helps people come to the realization that the
stocks they invest in need to be trending upward for them to make a profit as investors. Although
you can never be 100% safe because stocks fluctuate ever so often; you can make smart and logical
investments that give you the best chance to succeed in the stock market, and hopefully make a good
profit from the stocks you purchased. This can be done by researching stocks and not only checking
what they're currently at, but also what they have done in a 52 week time period so you can attempt
to find something to invest in that is consistently ... Show more content on Helpwriting.net ...
But for others, they have invested large sums of money and lost it all. An example of growth
investing would be for an investor to invest in some sort of new technology. There is a certain
method that growth investors use, there are five different methods that value investors should spend
time on. But even though these methods are pretty much set in stone like a mathematical equation,
the investor must also compensate for the company 's current situation. This meaning that they
cannot just follow this exact process and expect the outcome to be perfect, the investor will have to
make some adjustments. The first method is Five–Year Earnings Figures, this method states that
before all else, the investor should figure out if the company they're investing in has been growing
in the past, or is based on annual revenue. The second method is Strong Projected Earnings Growth,
this method states that a company you're investing in should have a 10– 12% minimum projected
five year growth rate , and if you can find anything higher than 10–12% like 15%, that is more ideal.
Next there is Costs and Revenue Control, in short this is finding out how management is
maintaining margins and controlling costs and revenues by comparing the company 's current profit
margins to its past margins and its competition 's profit margins. Next is ROE(return of investment),
this states that using your assets efficiently

Does a Higher Accredited Investor Threshold Clip Angels’...
Does a Higher Accredited Investor Threshold Clip Angels' Wings?
Does raising the financial requirements to be an accredited investor reduce start–up financing? The
Angel Capital Association (ACA), a trade association of angel groups, claims that it does. But data
on the angel capital market suggests otherwise.
Who's right on this issue matters. Later this year, the Securities and Exchange Commission (SEC)
will decide whether to raise the income and net worth requirements to be an accredited investor,
following the requirement in the Dodd–Frank Wall Street Reform and Consumer Protection Act of
2010 to periodically reevaluate the current standard.
The ACA argues that raising the threshold would cause "grave disruption" to "the startup ... Show
To figure that out, I looked at data produced by the Center for Venture Research at the University of
New Hampshire, which provides annual estimates of the number of angel investors, the amount of
money invested by angels, and the number of companies receiving angel financing.
The 2010 increase in the accredited investor threshold did not adversely affect the angel capital
market. Between 2009 (the last year before the new financial threshold) and 2013, the number of
angel investors increased by 15.7 percent and the number of angel–backed companies rose by 23.7
percent.
Because it's not clear exactly when the new net worth standard would have impacted the angel
market – The SEC says the change "was effective upon enactment" of the Dodd–Frank law in 2010,
but the agency adopted "amendments to the accredited investor standards in its rules" in 2011, and
set 2012 as the effective date for the new rules – I also looked at whether the numbers of angel
investors and angel–backed companies declined in 2010, 2011, or 2012. The CVR data show that
both the number of investors and the number of angel–backed companies increased between 2009
and 2010, 2011 and 2012.
Comparing with 2009 might be unfair because that was a bad year for economy. Therefore, I
compared the 2013 figures with the 2007 (the last pre–recession–pre–Dodd–Frank–year) numbers.
In 2013, there were 15.7 percent more angel investors and 23.9 percent more angel–backed
companies than in 2007.
Raising

Relationship Between Consumer Sentiment And Adr Price Essay
These studies discussed above implicitly assume that the local and US investors have homogeneous
expectations about future prospects of all markets. However, in practice, different market conditions
can cause investors to generate differential risk perceptions. Some studies argue that investor
sentiment may augment to the price divergence between ADRs and their underlying stocks.
 Heterogeneous Investor Sentiment
Grossmann et al. (2007) perhaps is the first to investigate the relationship between consumer
sentiment and ADR price differences. Using a fixed–effects panel data approach, they provide
evidence in support of the hypothesis that costly arbitrage factors influence ADR price differentials.
30 Moreover, they argue that sentiment could also help explain the mispricing of ADRs.
Specifically, they test whether consumer sentiment (measured by consumer sentiment indices) help
to explain the divergence between the prices of ADRs and that of their underlying assets. Their
results suggest that the more optimistic U.S. consumers are the lower the ADR premiums. Based on
the findings, they conclude that the prices of ADRs and that of the underlying stocks are more
responsive to US consumer sentiment as to the consumer sentiment of the country of origin.
Using a cross–sectional panel data approach, Arquette et al. (2008) model the variations in ADR
discount as a function of expected changes in exchange rate expectations and differences in investor
sentiment.31 The sample

The Political Scene Of Great Britain
"Business people are like sharks, not just because we are gray and slightly oily, or because our teeth
trail the innards of those we have eviscerated, but because we must move forward or die."(Stanley
Bing) PoliTEA is something new, extraordinary, unique and useful for all the United Kingdom
citizens. It is a political news and information application as well. Our product is coming to replace
the bunch of newspapers and substantially the political broadcasts. Our aim is to present the political
scene of Great Britain in one application in a reliable and trusted way. We invest in high quality of
sources in order to have a high quality product. The aim of PoliTEA is not only to increase the
political awareness of the British people but also ... Show more content on Helpwriting.net ...
Hopefully, bank loan is not the only source of funding available; friends and family savings may
help a business project too. Alternative finance methods are the peer to peer lending and the invoice
financing, the equity finance and the government grants. However, any prospected businessman has
to be really careful to choose the most appropriate funding body for its business since any source of
funding you may choose has different advantages and disadvantages. It seems that when people lack
any other source of financing, they ask their family or their close friends to contribute in order to
develop their business plans. According to Curran and Blackburn (1993), family loans account for
some 15 percent of start–up finance, amongst ethic–owned businesses in the UK, making it the
largest source of funds after the bank loans (Basu et al., 2013: 333). One good reason to finance
your business project in cooperation with your family or friends is the increased feeling of –
liability. This will definitely help you to develop your own skills, responsibilities and a long–
standing character. On the other hand, family finance can be a really dangerous option if momentous
clashes suddenly appear between family members. The family bank and family relationships will
eventually be damaged or destroyed (Babcock, 2013).
Another popular financial method is the peer to peer lending. A type of lending which matches
individual borrowers

Institutional Markets : Institutional Investors
Institutional investors are any organizations or persons which collect quite number sums of money
to invest in securities and also control a collection of share amounts to qualify for special treatment
and less regulation. They can also include operating companies that decide to invest their profits to
some degree in these types of assets. Insurance companies, mutual funds and pension funds are
some examples of institutional investors. These institutional investors need to face some regulations.
"Institutional investors always participate in private placements of securities due to their
sophistication, in which certain aspects of the securities laws may be inapplicable."
These institutional investors play role in the economy is to act as highly specialized investors on
behalf of others. For example, an employee will have a pension from his employer as the employer
gives that person 's pension contributions to a fund and the fund will be used to buy shares in a
company, or some other financial product. Funds are greatly useful because they will hold a broad
portfolio of investments in many companies. This spreads risk, so if one company fails, it will be
only a small part of the whole fund 's investment.
Types of Institutional Investors in United Kingdom.
In Britain, the largest single category of institutional investor is the pension funds, which was
gradually increasing from 3% of the market in 1957 to 31% in 1992 as they have largest corporate
pension plans with

Who Is An Entrepreneur?
Among the FAQ I often get is what is an entrepreneur? Though, I get peppered with it, but the most
widely recognized subject keeps running along the associated words: "How can I do what you do?
How do I become an entrepreneur? Would you be able to suggest a way?" So I 've found out that's
engaging in many conversations with people of all ages – most part ranging from 20–year–olds to
mid–career experts to late secondary school graduates to early retirees can help answer these
questions. Before I move ahead, I would to explain to you who is an entrepreneur. An entrepreneur
is a person who chooses to become its own boss, rather than working for anyone else. Entrepreneur
ideas are to run a small business and assume all the risks and prize of a given business venture,
goods or services offered for sale. The entrepreneur is usually seen as a business pioneer and
innovator of new ideas and business practices.
Now, if I am to define what entrepreneurship is, it's just like been my own boss. There are many
ways one can take to get there. I thought it may be helpful to explain the most common ones here,
together with some open discussions on the pros and cons of each.
This is not a complete list, these are clearly my opinions. There is no right path, and your approach
may be a mix of two or a greater amount of these approaches.
1. Start Business in your Garage
How about we specify this one first since it's the center to the mythology of entrepreneurship.
Inventing something unique

An Analysis of Value and Growth Investing
Saint Leo University
This essay will define and identify the differences between value stocks and growth stocks. It will
also explain the rationale that investors use for purchasing both value and growth stocks, and will
identify whether value or growth investing has worked best over the long term. In addition this
essay will provide incite as to which of the two investment methods I prefer and a justification for
this preference and lastly will identify a recent example of someone who can be described as a value
or growth investor and describe their successfulness with the method they chose.
Value and Growth Stocks Defined According to our text, ... Show more content on Helpwriting.net
...
This statement suggests that over the very long term that value investing would be best.
Value or Growth Investing – My Preference Based on my research of the articles listed in my
references, I would have to say that I would prefer to invest in a mix of both value and growth
stocks. As an investor who does not have access to large amounts of capital, it simply makes more
sense to purchase value stocks at a lower price. However, recent trends suggest that growth stocks
are currently in the lead (Bresiger, 2014) so that would influence me to split my investment amongst
both styles.
Example of a Successful Value Investor As referenced earlier in this essay, Bruce Berkowitz is
described as a value investor. In fact, he has been considered one of the top value investors and he
won Institutional Investor's 2014 Money Manager of the Year award as was indicated in the article,
STOCK CHARACTER Value investor Bruce Berkowitz profits by sticking to his convictions
(Segal, 2013). He won this title through value investments he made in 2011 with Bank of America
and AIG. According to the article, "investors had been badly burned by those stocks in the financial
crisis" (Segal, 2013). However, financial stocks rallied and his Fund "gained 35.54 percent in 2013,
exceeding the 32.39 percent return of the Standard & Poor's 500 index" (Segal, 2013). This is a
true

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