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Kramer, Benedikt, Anke Schorr, Reiner Doluschitz, and Markus Lips. "Short and medium-term impact of dairy barn investment on profitability and herd size in Switzerland." Agricultural Economics (Zemědělská ekonomika) 65, No. 6 (June 18, 2019): 270–77. http://dx.doi.org/10.17221/170/2018-agricecon.
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Investing in larger barns and increasing herd size are crucial milestones in dairy production. Based on the Swiss Farm Accountancy Data Network and data on government-supported investments, we investigate the development of two key variables over the first eight years after investment: change in herd size and calculated profit, that is, farm income minus opportunity costs for family labour and capital. We apply a fixed-effects panel regression and test for autocorrelation present in the time series. Compared to the year before the investment, calculated profit decreases in the first three years, while in the remaining years no significant difference compared to the year before investment can be seen. Herd size increases slowly, predominantly in the second and third years after investment, to some extent explaining the less favourable development of profitability in these years. We conclude that investment in a dairy barn does not lead to improved profitability in the short and medium term, pointing to the question of whether this picture changes in the long term.<br />
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Dopierała, Łukasz, and Magdalena Mosionek-Schweda. "Pension Fund Management, Investment Performance, and Herding in the Context of Regulatory Changes: New Evidence from the Polish Pension System." Risks 9, no. 1 (December 29, 2020): 6. http://dx.doi.org/10.3390/risks9010006.
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The aim of this paper is to assess the impact of reforms introduced in the operation of Polish open pension funds on management style, risk exposure and related investment performance. The article analyzes the impact of the reformed regulations on the herd behavior of fund managers. In particular, we examined whether the elimination of the internal benchmark for fund evaluation impacts the elimination or reduction of herd behavior. We proposed a multi-factor market model to evaluate the performance of funds investing in various types of instruments. Moreover, we used panel estimation to directly take into account the impact of the internal benchmark on herd behavior. Our results indicate that highly regulated funds may slightly outperform passive benchmarks and their unregulated competitors. In the case of Polish open pension funds, limiting investments in Treasury debt instruments clearly resulted in increased risk and volatility of returns. However, it also raised competition between funds and decreased the herd behavior. Additionally, the withdrawal of the mechanism evaluating funds based on the internal benchmark was also important in reducing herd behavior.
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Rademaker, Mark, Any Suryantini, and Jangkung Handoyo Mulyo. "Financial Feasibility of Investing in Smallholder Cow-Calf Cooperatives in Baluran National Park." Agro Ekonomi 28, no. 1 (June 28, 2017): 126. http://dx.doi.org/10.22146/jae.23543.
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Livestock grazing is a major driver of human-wildlife confl ict in conservation areas. Currently, it is estimated that 3000 heads of cattle illegally grazing within Baluran National Park (BNP) in East Java. The recent research has suggested the potential of livestock system intensifi cation to reduce land-use and conflict through conservation priorities. The research goal was to investigate the fi nancial feasibility of starting intensive cow-calf cooperatives by smallholders in the BNP area. Data were collected using Farm surveys in a Criterion sampling design. Optimal herd management plans were generated using whole farm Linear Programming and fi nancial feasibility was assessed using Discounted cash-flow analysis and debt-servicing capabilities. Investment lifetime was set at 15 years and four alternative varieties of cattle were taken from Bali, Peranakan Ongole, Limousin and Simmental. Results show that investing in all varieties represents a positive investment opportunity. Bali cattle obtaining the highest NPV ($53.769), IRR (14,25%) and B/C ratio (1,13). Farmer income can be increased by 163% by combining additional Off-farm labor. However, debt servicing capabilities of cow-calf cooperative activities showed that the loan principal can only be repaid in the 10th year instead of the maximum eight years set by the government cow-calf credit scheme. We urge the government to reconsider either the grace period or the repayment time of the credit scheme to better fit the cash-fl ow characteristics of cow-calf enterprises.
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Abeni, Fabio, Francesca Petrera, and Andrea Galli. "A Survey of Italian Dairy Farmers’ Propensity for Precision Livestock Farming Tools." Animals 9, no. 5 (April 28, 2019): 202. http://dx.doi.org/10.3390/ani9050202.
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A targeted survey was designed with the aim of describing the diffusion of precision livestock farming (PLF) tools in one of the most intensive dairy farming provinces in Italy. Technicians at the Provincial Breeder Association of Cremona interviewed 490 dairy farmers and obtained data regarding the role and age of the respondents; the land owned by the farmers; their herd sizes (HS, lactating plus dry cows; small HS < 101, medium HS 101–200, large HS > 200 cows/herd); their average 305 day milk yield (low MY < 9501, medium MY 9501–10,500, high MY > 10,500 kg/head); the cow to employed worker ratio (low CW < 33, medium CW 33–47, high CW > 47 cows/worker); the use of PLF tools to monitor production, reproduction, and health; and the criteria and motivations for investing in PLF tools. The use of automated MY recording and estrus detection systems was primarily associated with HS (more present in larger farms), followed by MY (more present in more productive farms), and then CW (more present with a high cow: worker ratio). Concern about the time required to manage data was the most common subjective issue identified as negatively affecting the purchase of these tools. The future of PLF use in this region will depend upon the availability of an effective selection of tools on the market.
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Moran, J. B., and J. W. Brouwer. "Quantifying the returns to investing in improved feeding management on dairy farms in Peninsular Malaysia." Animal Production Science 54, no. 9 (2014): 1354. http://dx.doi.org/10.1071/an14076.
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Farm production and business performance data were collected from 30 dairy farms in Peninsular Malaysia. The farms were split into three groups to assess the impacts of farm management on cow milk yields. The better farmers who produced more milk per cow also fed their dry cows and yearlings better. Suboptimal stock performance, expressed as reduced growth rates in calves and yearlings, poor reproductive performance and low milk yields in adult cows, arose due to shortages in feed supplies, hence their feed nutrients, as provided by farmers. Furthermore, appetites would have been restricted through low rates of feed digestion and poor cow comfort. The economic data generated in the study was used to calculate the potential savings from various Key Performance Indicators of improved herd management. For example, reducing the age of heifers at first calving by 6 months can reap a profit of Malaysian Ringgits (RM) 1400 per heifer while reducing calving interval by 3 months can return an extra RM 1150 per milking cow. Increasing the lactation length by 2 months can reap RM 760 per milking cow while milk rearing calves on calf milk replacer rather than fresh milk can generate an extra RM 275 profit per calf. Clearly, the additional income generated from such examples of improved feeding management, justify their investments in increasing quantities of forages, better quality of supplements and/or more cost-effective feeds.
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Kaletnik, Grygorii, and Nataliia Koziar. "Strategic approaches to investing in the agricultural sector of Ukraine in modern conditions of agro-industrial complex development." Ekonomika APK 314, no. 12 (December 28, 2020): 81–89. http://dx.doi.org/10.32317/2221-1055.202012081.
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The purpose of the article is to develop, based on the generalization of domestic and foreign experience, guidelines for enhancing investment in the agricultural sector. Research methods. A set of special methods of economic research was used during the research process. Using abstract-logical method, the conclusions to the article are formulated. The method of theoretical generalization was used in the critical analysis of research results of domestic and foreign scientists on the substantiation of investment factors and methods of assessing the effectiveness of investment. In the process of analysis, the statistical and economic method was used, which made it possible to clearly identify the factors that affect investment activity in the agricultural sector of Ukraine. Research results. The current state of investment activity in the agricultural sector of Ukraine is studied. The main factors influencing the intensification of investment in agricultural development in Ukraine are identified. Methods of state stimulation of investment activity are analyzed. Scientific novelty. A scientific approach to the introduction of a program of state support for dairy producers by introducing subsidies for the growth of each head of cattle introduced into the main herd, which will provide an economic incentive to attract investment in the livestock industry. Practical significance. The main factors that negatively affect the intensification of investment activity in the agricultural sector of Ukraine have been identified. The need to restore the special VAT tax regime for agricultural enterprises that simultaneously produce livestock and crop products (except for chicken producers) as the most effective method of state support for their activities has been confirmed. It is proved that in order to introduce effective mortgage lending it is necessary to resume the activities of a specialized institution - the State Mortgage Bank. Tabl.: 2. Figs.: 1. Refs.: 12.
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Rolfe, Joe W., Alison E. Larard, Bernard H. English, Emma S. Hegarty, Tim B. McGrath, Niilo R. Gobius, Joanne De Faveri, Joanna R. Srhoj, Michael J. Digby, and Richard J. Musgrove. "Rangeland profitability in the northern Gulf region of Queensland: understanding beef business complexity and the subsequent impact on land resource management and environmental outcomes." Rangeland Journal 38, no. 3 (2016): 261. http://dx.doi.org/10.1071/rj15093.
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The farm-gate value of extensive beef production from the northern Gulf region of Queensland, Australia, is ~$150 million annually. Poor profitability and declining equity are common issues for most beef businesses in the region. The beef industry relies primarily on native pasture systems and studies continue to report a decline in the condition and productivity of important land types in the region. Governments and Natural Resource Management groups are investing significant resources to restore landscape health and productivity. Fundamental community expectations also include broader environmental outcomes such as reducing beef industry greenhouse gas emissions. Whole-of-business analysis results are presented from 18 extensive beef businesses (producers) to highlight the complex social and economic drivers of management decisions that impact on the natural resource and environment. Business analysis activities also focussed on improving enterprise performance. Profitability, herd performance and greenhouse emission benchmarks are documented and discussed.
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Lowman, B. G., and A. J. Chalmers. "Cattle systems in the hills and uplands." BSAP Occasional Publication 10 (1985): 107–11. http://dx.doi.org/10.1017/s0263967x00030792.
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AbstractThe vital criterion in selecting a beef system is to ensure that feed requirements match supplies produced on the farm, with a minimum of conflict with other enterprises. Grass must form the basis of any system with emphasis given to grazing. In quantifying feed supplies, the ability of the suckler cow to store summer grazing, as body fat, must also be included.Traditionally, enterprises have been evaluated on a Gross Margin basis. On combined beef/sheep units, such comparison must be carefully interpreted if misleading conclusions are to be avoided. Adequate supplies of autumn grazing arc key components for both enterprises. Failure to meet these, results in reduced individual performance or increased winter feed requirements. The grassland requirements of both enterprises must therefore be complementary.May calving and selling calves store in the spring, prior to lambing, achieves these objectives. An important component of such a breeding enterprise is the tax-free, capital accumulation via the herd basis and beneficial effects on the cash flow. Where capital for investing into breeding stock is unavailable, the purchase of week-old calves in January, for sale at 330 kg the following spring or retained for grass finishing, can also integrate successfully with the ewe flock, minimizing dependence on conserved winter feed and accommodation.
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Lacalle, Daniel. "The Importance of Profit and Sound Financing in Socially Responsible Investment." Journal of Business Accounting and Finance Perspectives 2, no. 2 (February 14, 2020): 1. http://dx.doi.org/10.35995/jbafp2020011.
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Socially Responsible Investment (SRI) has grown exponentially in recent years. The rising importance of social, environmental, and governance (ESG) aspects in decision making as well as in asset allocation is undeniable. However, important challenges must be addressed. The dramatic increase in ESG investments has coincided with a period of extremely low rates and massive liquidity injections. Also, the definition of socially responsible investment is too broad and can generate misunderstandings (an approximation to the correct definitions can be found in Sandberg et al., 2009). Additionally, I find that a significant part of funds that follow ESG principles can fall into the trap of investing in heavily subsidized and high-debt sectors. Investors should monitor the risk of concentration, the soundness of profit estimates, and strength of balance sheets to avoid rent-seeking and depending heavily on subsidies and grants. Furthermore, I find that performance of ESG and SRI funds has been monitored only in a period of low rates, high liquidity, rising asset valuations, and bullish markets. More tools have to be used to monitor risk as markets enter a consolidation phase. I find that it is essential to focus on real economic returns in a mid-cycle environment as well as monitoring excess leverage to avoid the risk of a very important reduction in ESG investments in a market correction phase for markets with rising interest rates. I conclude that strong fundamental analysis, diversification, and avoiding herd mentality are essential to prevent large outflows and a negative impact on ESG growth once the cycle changes.
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Hinterberger, Amy. "Investing in Life, Investing in Difference: Nations, Populations and Genomes." Theory, Culture & Society 29, no. 3 (May 2012): 72–93. http://dx.doi.org/10.1177/0263276411427409.
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This article explores the contemporary scientific practice of human genome science in light of Michel Foucault’s articulation of the problem of population. Rather than transcending the politics of social categories and identities, human genome research mobilizes many different kinds of populations. How then might we aim to avoid overgeneralized readings of the refiguring of human difference in the life sciences and grapple with the multiple and contradictory logics of population classification? In exploring the study of human variation through the case of the ‘Quebec founder population’ at a private genome research laboratory in Canada, the article argues that the power to define and shape meanings of human variation and to organize vitality is not held by any one institution or form of scientific practice. While molecular genomics may be transforming conceptions of human difference, the laboratory is only one of many places where human genomic variation accrues value, meaning and relevance. Molecular configurations of human difference gain meaning through a traffic in populations that extends beyond the laboratory. In the case explored here this traffic in populations is constituted within a nexus of empire, national census practices and contemporary articulations of multicultural policies.
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P.H., Haritha, and Rashmi Uchil. "Impact of investor sentiment on decision-making in Indian stock market: an empirical analysis." Journal of Advances in Management Research 17, no. 1 (September 13, 2019): 66–83. http://dx.doi.org/10.1108/jamr-03-2019-0041.
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Purpose The purpose of this paper is to analyze the relationship between the factors influencing investors sentiment and investment decision-making (DM) of the individual investors. This paper proposes a unique conceptual framework that incorporates the herding, market and awareness factors that are leading to investor sentiment (IS) and decision-making process of the individual investors. Design/methodology/approach This study has conducted a questionnaire-based survey to collect data from 875 individual investors through the convenience sampling method. Structural equation modeling was used to evaluate the relationship between factors, namely, market effect, herd behavior, media, social interaction and advocate recommendation that influences IS and DM. Findings The present study found that market effect and herding are the most significantly influencing factors of investors sentiment. Among the sources of awareness, the internet has the lowest influence when compared to media, social interaction and advocate recommendation. Practical implications This study will help individual investors to avoid the problems faced while making an investment decision. The study could help investors to select a suitable investment aid and avoid repeating expensive errors, which arise due to investors’ sentiment. It is recommended to increase the awareness regarding investors’ sentiment among individuals, so as to increase their understanding about the financial settings and to make them confident while investing. The present study also sheds light upon the behavior of Indian individual investors so that policymakers can take appropriate measures to provide the proper guidance. Policymakers can conduct awareness campaigns to increase investors’ knowledge on the market condition and to enhance proper investment DM among them. Originality/value To best of the authors’ knowledge, previous studies have focused on limited factors at a time. The present study has investigated how factors influencing investors sentiment, namely, market factors (MF), herding as well as awareness would influence investment DM among individual investors in India. The influence of these factors has never been studied simultaneously in the context of Indian individual investors’ DM.
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Sharma, Gunjan, Tarika Singh, and Suvijna Awasthi. "Determinants of Trading Decision: An Experiential Examination." GIS Business 13, no. 1 (February 5, 2018): 1–9. http://dx.doi.org/10.26643/gis.v13i1.3301.
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In the midst of increasing globalization, the past two decades have observed huge inflow of outside capital in the shape of direct and portfolio investment. The increase in capital mobility is due to contact between the different economies across the globe. The growing liberalization in the capital market leads to the growth of various financial products and services. Over the past decade, the Indian capital market has witnessed numerous changes in the direction of developing the capital markets more robust. With the growing Indian economy, the larger inflow of funds has been fetched into the capital markets. The government is continuously working on investor’s education in order to increase retail participation in the Indian stock market. The habits of the risk-averse middle class have been changing where these investors started participating in the Indian stock market. It is an explored fact that human beings are irrational and considering this fact becomes imperative to investigate factors that influence the trading decisions. In this research, ‘an attempt has been made to investigate various factors that affect the individual trading decision’. The data has been collected from various stockbroking firms and from clients of those stockbroking firms their opinions were recorded by means of a questionnaire. Data collected through the structured questionnaire, 33 questions were prepared which was given to the 330 respondents on the basis of convenience sampling out of which 220 individuals filled questionnaire, the total of 200 questionnaires was included in the study after eliminating the incomplete questionnaire. Various factors are being explored from the literature and then with the help of factor analysis some of the most influential factors have been explored. Factors like overconfidence, optimism, cognitive bias, herd behavior, advisory effect, and idealism are the factors which influenced the trading decision of the investors the most. Such kind of a study is contributing in the area of behavioral finance as a trading decision is an important aspect while investing in the stock market. And this kind of study would be helping and assisting financial advisors to strategies for their clients in making the right allocation and also the policy maker and market regulators to come up with better reforms for the Indian stock markets.
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Jaiyeoba, Haruna Babatunde, and Razali Haron. "A qualitative inquiry into the investment decision behaviour of the Malaysian stock market investors." Qualitative Research in Financial Markets 8, no. 3 (August 1, 2016): 246–67. http://dx.doi.org/10.1108/qrfm-07-2015-0027.
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Purpose The main purpose of this study was to examine the investment decision behaviour of retail investors in Malaysia. Design/methodology/approach The study adopted semi-structured interviews to solicit an understanding of six retail investors on investment decision behaviour in Malaysia. Content analysis technique was used to analyse the data and verbatim texts were applied in discussing the emergent themes. Findings The findings indicate that retail investors in Malaysia are patriotic in nature, and their investment decisions are based on feeling of comfort or convention rather than quantitative analysis. They rely so much on their findings rather than third party’s views for making investment decisions. They were influenced by the psychological biases because they herd on the information. Challenges are solved through experience, and they believe that proper understanding of the financial and economic settings of the country can enhance better investment decision-making. Research limitations/implications A more detailed investigation on the investors’ behaviour with more samples may expand our understanding of this issue. Future studies need to examine the investment decision behaviour with more samples. Practical implications First, it will prepare hit and run investors to be more ready to remain in the market and improve their skills on how to make sound investment decisions. Second, it helps the investors to know that knowledge of traditional finance theory is not sufficient to excel in stock market, and, hence, they need to know more about behavioural finance. Third, investors are exposed to various reasons as to why investment decisions deviate from expected and different means of solving the challenges faced in making investment decision within the Malaysian context. Fourth, investors are reminded that understanding the financial settings before investing is essential. Finally, policy makers in stock market are able to understand the retail investors’ behaviour. Originality/value This study examines the experience and prospect to remain as stock market investors, their priorities in selecting the right company for investment purposes, the kind of information seeking from third parties, the challenges faced by them and other important considerations in investment decisions. These have never been examined together in this way in investigation of retail investors’ investment behaviour.
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Globerman, Steven. "Investing abroad and investing at home: complements or substitutes?" Multinational Business Review 20, no. 3 (August 17, 2012): 217–30. http://dx.doi.org/10.1108/15253831211261469.
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PurposeThe purpose of the study is to assess whether outward foreign direct investment (OFDI) and home country capital investment are substitutes or complements.Design/methodology/approachCase studies of 22 Canadian multinational companies (MNCs) were carried out, and the qualitative and quantitative information from the case studies was used to evaluate whether OFDI and home country capital investment were substitutes or complements for the sample MNCs over the period 2000‐2010.FindingsTwo primary strategic motives were identified for the OFDI undertaken by the sample MNCs: market‐seeking; and resource‐seeking. Across the sample, domestic investment was typically a poor strategic alternative to OFDI. Furthermore, OFDI promoted faster revenue growth for the MNCs which stimulated increased domestic investment in later time periods. Hence, OFDI and domestic capital investment are complements in the longer run.Practical implicationsHome country government policies that directly or indirectly discourage OFDI will also discourage domestic investment by home country MNCs. This, in turn, might discourage investment by small and medium‐sized enterprises in the home country, if government limitations on OFDI hamper the growth of MNC head offices in the home country.Originality/valueThe study provides evidence drawing on case studies rather than traditional econometric models. The case study methodology provides evidence on the underlying strategic imperatives for OFDI that is not identified by econometric studies.
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Bode, C., and D. T. D. De Ridder. "Investing in the future--identifying participants in an educational program for middle-aged and older adults." Health Education Research 22, no. 4 (October 3, 2006): 473–82. http://dx.doi.org/10.1093/her/cyl098.
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ANDERSON, KATHRYN H., JAMES E. FOSTER, and DAVID E. FRISVOLD. "INVESTING IN HEALTH: THE LONG-TERM IMPACT OF HEAD START ON SMOKING." Economic Inquiry 48, no. 3 (February 6, 2009): 587–602. http://dx.doi.org/10.1111/j.1465-7295.2008.00202.x.
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Brooker, Peter. "SESAR and NextGen: Investing In New Paradigms." Journal of Navigation 61, no. 2 (March 25, 2008): 195–208. http://dx.doi.org/10.1017/s0373463307004596.
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SESAR is Europe's ‘Single European Sky Air traffic Research system’. NextGen is the USA's ‘Next Generation Air Transport System’. SESAR and NextGen are developments targeted at post 2020. The common vision is to integrate and implement new technologies to improve air traffic management (ATM) performance – a ‘new paradigm’. SESAR and NextGen combine increased automation with new procedures to achieve safety, economic, capacity, environmental, and security benefits. The systems do not have to be identical, but must have aligned requirements for equipment standards and technical interoperability.A key component is a ‘cooperative surveillance’ model, where aircraft are constantly transmitting their position (from navigational satellites), flight path intent, and other useful aircraft parameters – known as ADS-B (Automatic Dependent Surveillance-Broadcast). The focus for planning and executing system operations will increasingly be aircraft 4D trajectories: a 4D trajectory is the aircraft path, three space dimensions plus time, from gate-to-gate, i.e. including the path along the ground at the airport.In analysing potential major ATM system changes, a simple division into five Key Test areas might be: Safety Credibility, Operational Concept, Technological Feasibility, Benefits and Costs, and Transition Path. The main attention here is on Benefits and Costs of SESAR. The strategic challenge will be to convince customers and stakeholders of the benefits of paradigm shift expenditure, given the associated impacts on future user charges, aircraft equipment investments and public expenditure. The analysis here shows that the existing cost benefit analysis results for SESAR are not particularly robust, possibly over-estimating Net Present Values by some tens of € billions.
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Jacobs, Trent. "Head of Chevron Technology Ventures on the Realities of Investing Amid a Pandemic." Journal of Petroleum Technology 72, no. 08 (August 1, 2020): 38. http://dx.doi.org/10.2118/0820-0038-jpt.
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Hurtt, David N., Jerry G. Kreuze, and Sheldon A. Langsam. "CEO Compensation, Performance Variables, and Socially Responsible Investing." American Journal of Business 15, no. 1 (April 22, 2000): 39–46. http://dx.doi.org/10.1108/19355181200000004.
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Significant investment dollars are now allocated to companies deemed by investors as socially responsible. This socially responsible theme contends that corporations should be held accountable for the totality of their actions and decisions, including CEO compensation levels. This paper investigates whether CEO compensation levels are more associated with traditional performance measures for socially responsible firms than for firms deemed not socially responsible, with the assumption being that social choice firms will be more sensitive to and may attempt to align CEO compensation levels with corporate performance. Rank correlation analysis and regression results using nine performance variables for 270 firms indicated that CEO compensation levels at social choice companies were more highly associated with performance variables than those at nonsocial companies. The study results suggest that social choice companies, in addition to their other corporate good deeds, seem to include CEO compensation levels as a part of their overall corporate decision process.
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Sirasanagandla, Srinivasa Rao, Kumar M. R. Bhat, Narendra Pamidi, and S. Nagabhooshana Somayaji. "Unusual Third Head of the Sternocleidomastoid Muscle from the Investing Layer of Cervical Fascia." International Journal of Morphology 30, no. 3 (September 2012): 783–85. http://dx.doi.org/10.4067/s0717-95022012000300001.
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Kubler, Felix, Larry Selden, and Xiao Wei. "Inferior Good and Giffen Behavior for Investing and Borrowing." American Economic Review 103, no. 2 (April 1, 2013): 1034–53. http://dx.doi.org/10.1257/aer.103.2.1034.
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The standard assumption that asset demand increases in income and decreases in price has its origin in Arrow's classic model with one risky and one risk free asset, where both are held long, and preferences exhibit decreasing absolute and increasing relative risk aversion. However if one allows shorting of the risk free asset or decreasing relative risk aversion, the risk free asset can not only fail to be a normal good but can be a Giffen good. This behavior can occur even for members of the popular HARA utility family. More generally, Giffen behavior can occur over multiple income ranges.
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Manns Jr, F. Philip. "New Zealand Trustee Investing: Reflecting on Modern Portfolio Theory and the Ancient Distinction of Principal and Income." Victoria University of Wellington Law Review 28, no. 4 (August 3, 1998): 611. http://dx.doi.org/10.26686/vuwlr.v28i4.6055.
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The New Zealand Trustee Amendment Act 1988 led the common law world in encouraging (perhaps requiring) trustees to use modern portfolio theory ("MPT") techniques when investing trust funds. A recent High Court decision essentially held that trustees should have engaged in MPT-based investment since 1972. Full integration of MPT principles into trust law affects many areas of trust administration, perhaps most prominently the ancient distinction of principal and income. In addition, renewed attention to careful drafting of a settler's investment and pay out intentions and greater investment diversification are likely consequences of MPT-based trust investing.
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Henty, Neil. "‘Lighting a spark’." Early Years Educator 22, no. 10 (May 2, 2021): 24–26. http://dx.doi.org/10.12968/eyed.2021.22.10.24.
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Ahmed, Farhan, and Deepak Karira. "Empirical Analysis of Herd Behavior in Pakistan Stock Exchange." Estudios de Economía Aplicada 37, no. 1 (June 6, 2019): 147. http://dx.doi.org/10.25115/eea.v37i1.2582.
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Este estudio intenta analizar e identificar la presencia de comportamiento de rebaño entre los inversores, utilizando los rendimientos diarios de 387 acciones que cotizan en la Bolsa de Valores de Pakistán (PSX) desde el 1 de enero de 2009 hasta el 31 de diciembre de 2017. También investiga las diferencias en el comportamiento de los inversores en diferentes condiciones de mercado y en diferentes sectores listados en PSX. El estudio utiliza el modelo CSAD (dispersión seccional absoluta) propuesto por (Chang et al., 2000) para probar la presencia de comportamiento de pastoreo en PSX. Los resultados del estudio no respaldan la existencia generalizada de pastoreo en la Bolsa de Valores de Pakistán en general, mientras que el análisis sectorial (específico de la industria) revela evidencia de pastoreo en 4 sectores que figuran en la Bolsa de Valores de Pakistán.
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Morecroft, Nigel, and Craig Turnbull. "Institutional equity investing in Britain from 1900 to 2000." Financial History Review 26, no. 1 (January 30, 2019): 1–19. http://dx.doi.org/10.1017/s0968565018000112.
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In Britain around 1900, established financial institutions for long-term savings such as life assurers, and pension funds which were just in their formative phase, did not make material allocations to publicly quoted equity markets or ordinary shares; long-established life assurers, for example, had less than 3 per cent allocated to the asset class (Baker and Collins 2003). Over the following 100 years, this picture radically changed, with equities emerging as the central asset class for many institutional investors and the term ‘the cult of (the) equity’ was coined (Scott 2002; Avrahampour 2015). As the century progressed, institutional investors superseded private individuals and became the dominant holders of British publicly quoted companies (Cheffins 2010). Despite the attractions of the asset class and their generally high returns, within a relatively short period by the end of the century, institutional equity exposure had peaked and was in decline both at life assurers and within pension funds. Here we highlight, and link together, the key actuarial (Turnbull 2017) and investing (Morecroft 2017) ideas that were influential in these developments. We also identify the main individuals who were instrumental in the application of equity investing to institutional portfolios. The article has an emphasis towards years from 1920 to 1960 when most of the changes to investment practice and actuarial theory occurred.
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Sari, Renny Puspita, and Muhamad Rabil Maulana. "Sistem Pendukung Keputusan Rekomendasi Emiten Saham Menggunakan Metode Simple Additive Weighting." Jurnal Sistem Komputer dan Informatika (JSON) 2, no. 3 (May 30, 2021): 321. http://dx.doi.org/10.30865/json.v2i3.3037.
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In the current era, stock investing is an instrument that is currently popular with Indonesian youth, stock investing is one of the many investment options that are increasingly in demand by various groups. Investing in stocks is an activity to refrain from enjoying the present for more enjoyment in the future, this investment often brings someone to be wiser in managing their finances, choosing good stocks is not an easy thing for some investors it takes many factors and ratios - financial ratios to choose stocks that can provide financing by the initial investment objectives. Therefore we need a system to help these problems. The system is a decision support system that can assist in making decisions from the available options. This Stock Issuer Recommendation Decision Support System Using the Simple Additive Weighting Method is here to assist decision-makers to choose good issuers or stocks to collect so that they can provide good profits in the future. The results of the calculation on the system using the Simple Additive Weighting method will show the best suitable stock recommendations for the user based on the data they enter.
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R. Nofsinger, John, and Abhishek Varma. "Pound wise and penny foolish? OTC stock investor behavior." Review of Behavioral Finance 6, no. 1 (September 2, 2014): 2–25. http://dx.doi.org/10.1108/rbf-12-04-02.
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Purpose – The purpose of this paper is to explore some commonly held beliefs about individuals investing in over-the-counter (OTC) stocks (those traded on Over-the-counter Bulletin Board (OTCBB) and Pink Sheets), a fairly pervasive activity. The authors frame the analysis within the context of direct gambling, aspirational preferences in behavioral portfolios, and private information. Design/methodology/approach – Contrary to popular perceptions, the modeling of the deliberate act of buying OTC stocks at a discount brokerage house finds that unlike the typical lottery buyers/gamblers, OTC investors are older, wealthier, more experienced at investing, and display greater portfolio diversification than their non-OTC investing counterparts. Findings – Behavioral portfolio investors (Shefrin and Statman, 2000) invest their money in layers, each of which corresponds to an aspiration or goal. Consistent with sensation seeking and aspirations in behavioral portfolios, OTC investors also display higher trading activity. Penny stocks seem to have different characteristics and trading behavior than other OTC stocks priced over one dollar. Irrespective of the price of OTC stocks, the authors find little evidence of information content in OTC trades. Originality/value – The paper provides insight into individual investor decision making by empirically exploring the demographic and portfolio characteristics of individuals trading in OTC stocks.
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Fitzpatrick, Brian T. "Can and Should the New Third-Party Litigation Financing Come to Class Actions?" Theoretical Inquiries in Law 19, no. 1 (February 13, 2018): 109–23. http://dx.doi.org/10.1515/til-2018-0004.
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Abstract In the United States, there has been tremendous growth in a form of third-party litigation financing where investors buy pieces of lawsuits from plaintiffs. Many scholars believe that this new financing helps to balance the risk tolerance of plaintiffs and defendants and thereby facilitates the resolution of litigation in a way that more closely tracks the goals of the substantive law. In this Article, I ask whether these risk-balancing virtues of claim investing carry over into class action cases. This is a question that has not yet been addressed by scholars because many think it is not possible for financiers to buy pieces of class action lawsuits in the United States. But I show that such investments are neither impractical nor unethical; indeed, it appears that they are already here. It is therefore worth considering whether the investments confer the same social benefits they do in other cases. I argue that although class members do not need a risk transfer device in class action cases because they are almost always risk-neutral in light of their small losses, their lawyers do need such a device. Although this does not necessarily mean that claim investing is socially desirable overall in class actions, the social costs that have thus far been identified with claim investing seem modest compared to the benefits.
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Underwood, Sam. "Investing in Change: Education, Transitional Justice and Impact in the Colombian Peacebuilding Process." Deusto Journal of Human Rights, no. 13 (December 11, 2017): 91. http://dx.doi.org/10.18543/aahdh-13-2015pp91-123.
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<p>Investment in educational initiatives as transitional or transformative mechanisms in societies trying to build peace is often limited by several assumptions. First, it is often held as that education is largely a tool of prevention, and that the impact of the initiatives cannot be measured. Second, children are considered only as the «future generation» who will «inherit» the society, reducing their value to their future potential and undermining their agency in the present. Third, since introducing sensitive issues into the formal education system is politically difficult and risks reopening old wounds, it is held that educational initiatives are dependent on, and thus secondary to, a sustained reconciliation or peacebuilding process. As a result of these assumptions, education is often shelved as a long-term, developmental issue in post-conflict societies, and does not benefit from the resources brought by the «peace dividend.» This article seeks to deconstruct these assumptions, and argue that educational initiatives in fact have an observable, measurable, transformative impact on individuals, groups and societies. If this impact is supported and sustained by economic and political investment, education can play a central role in peacebuilding and transformative initiatives.</p><p><strong>Received</strong>: 01 August 2015<br /><strong>Accepted</strong>: 15 October 2015<br /><strong>Published online</strong>: 11 December 2017</p>
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Kothari, Prashant P. "Everything You've Heard about Investing is Wrong! How to Profit in the Coming Post-Bull Markets (a review)." Financial Analysts Journal 54, no. 5 (September 1998): 90–91. http://dx.doi.org/10.2469/faj.v54.n5.2216.
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Taufiqulhakim, Amirul, and Achsania Hendratmi. "penerapan syirkah melalui akad Musyarakah basmalah Sidogiri Pasuruan." Jurnal Ekonomi Syariah Teori dan Terapan 6, no. 10 (January 18, 2020): 2143. http://dx.doi.org/10.20473/vol6iss201910pp2143-2157.
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The purpose of this study was to find out the process of applying the Musyarakah contract carried out by Basmalah Sidogiri in Pasuruan with its partners in opening new branches and investing as new members. This study uses qualitative methods using explanative case study methods. Primary data collection is conducted by interviews and direct observation to informants, they are Head of Marketing Division, Head of Finance Division, Basmalah Partners in Surabaya, and Investors. Secondary data collections are from journals, books, BPS, Web of Basmalah, and other literature.Keywords: Musyarakah Contract, Basmalah, Sidogiri
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Pieloch-Babiarz, Aleksandra. "first-largest shareholder and the attractiveness of investing in Polish dividend companies." Public Policy and Accounting, no. 1(3) (April 26, 2021): 3–11. http://dx.doi.org/10.26642/ppa-2021-1(3)-3-11.
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The purpose of this article is to examine the attractiveness of investing in shares of listed companies that regularly pay out dividends depending on the type of the first-largest shareholder. In order to achieve the aim of the paper, two following research questions we formulated: 1) in which companies, broken down by type of the first-largest shareholder, is the highest dividend payment observed? 2) considering the main shareholder, owning shares of which dividend companies is most beneficial for a stock market investor? Furthermore, the research hypothesis is: when investing in dividend, the most attractive investments are those companies in which the most shares are held by institutional investors and the State Treasury. The research was conducted on non-financial companies listed on the Warsaw Stock Exchange in the years 2005-2019 that regularly paid out dividends. The main research method was the classical technique for order of preference by similarity to ideal solution (i.e., TOPSIS) in which stimulants and destimulants were selected in a way which enables to assess the investment attractiveness from the point of view of a long-term stock market investor interested in dividend. Moreover, the Pearson correlation matrix and descriptive statistics were used. In order to conduct the computation we used the statistical software Statistica 13.5 and Excel.The research revealed that the highest dividends were paid out by these companies in which the first-largest shareholder was the institutional investor. In addition, our calculations based on a synthetic indicator showed that the most attractive investments (in terms of stock market investor interested in so called ‘dividend investing’) were shares of these companies in which the main shareholder was an institutional investor, individual investor and legal person. In all these types of companies, the average value of dividend payout ratio was higher than in the entire research group. The fourth position in terms of investment attractiveness was occupied by the companies in which managers held the most shares (these companies paid out the lowest dividends in the entire research group). The last place in the ranking was taken by the companies in which the State Treasury was the main shareholder (these companies, despite the payment of high dividends, turned out not to be attractive investment due to their financial condition, and in particular, very high debt).
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Edwards, Alicia. "“Do the Ghosts Roam Along the Corridors Here at Ordsall Hall?”: Paranormal Media, Haunted Heritage, and Investing Historical Capital." Journal of Popular Culture 52, no. 6 (December 2019): 1312–33. http://dx.doi.org/10.1111/jpcu.12852.
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Aguayo, Victor M., Sylvetta Scott, and Jay Ross. "Sierra Leone – investing in nutrition to reduce poverty: a call for action." Public Health Nutrition 6, no. 7 (October 2003): 653–57. http://dx.doi.org/10.1079/phn2003484.
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AbstractBackground:Malnutrition rates in Sierra Leone are among the highest in the world. However, policy-makers do not always recognise the fight against malnutrition as a policy priority to ensure the healthy human capital needed to fight poverty and achieve sustained positive economic growth.Objective:The analysis presented here was conducted by an intersectoral and inter-agency group of Sierra Leonean senior policy advisors to quantify some of the potential human and economic benefits of improved policies and programmes to reduce malnutrition.Findings:The analysis revealed that 46% of child deaths in Sierra Leone are attributable to malnutrition, the single greatest cause of child mortality in the country. In the absence of adequate policy and programme action, malnutrition will be the underlying cause of an estimated 74000 child deaths over the next five years. The analysis also revealed that if current levels of iodine deficiency remain unchanged over the next five years, 252000 children could be born with varying degrees of mental retardation as a result of intrauterine iodine deficiency. Finally, the analysis showed that, in the absence of adequate policy and programme action to reduce the unacceptable rates of anaemia in women, the monetary value of agricultural productivity losses associated with anaemia in the female labour force over the next five years will exceed $94.5 million.Conclusion:Sustained investment in nutrition in Sierra Leone could bring about enormous human and economic benefits to develop the social sector, revitalise the economy, and attain the poverty reduction goals that Sierra Leone has set forth.
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Muthanje, Kamwitha A., Khatete I. Wafula, and Riechi A. Rasugu. "Teacher Competency on Learner Promotion in Embu County Integrated Public Primary Schools, Kenya." World Journal of Education 10, no. 3 (June 20, 2020): 188. http://dx.doi.org/10.5430/wje.v10n3p188.
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Investing in ECDE is one of the challenging cost-effective commitments that a government can undertake. Investing in quality ECDE can improve a child’s well-being and minimize educational and poverty gap. Teacher competence is an important tool towards the realization of holistic development of children. It is with this background that the researcher sought to study teacher competence on Learners’ promotion in Embu County integrated public primary schools, Kenya. The study adopted cross-sectional survey research design across a target population of 381 public primary schools, 381 head teachers, 3951 primary teachers and 380 ECD teachers in the five sub-counties. Stratified random sampling was used to select schools from the five sub-counties; simple random sampling was used to select public primary teachers and head teachers in five sub- counties. Questionnaires were utilized as the instruments of the study. Quantitative data collected was analyzed using SPSS software. Based on the results, the study found that most (73%) of the primary teachers are unable to handle ECD pupils transiting to primary section since they could not understand the content taught and teachers have inadequate experience for teaching ECDE class. The study also found that most (50%) of the head teachers do not avail curriculum support materials. The study recommends that the teacher training colleges should incorporate courses that equip teachers with skills to handle pupils transiting from ECD classes to primary section. The schools also should provide books to a pupil book ratio of 1:1 so as to execute the new competent based curriculum.
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Riffat, F., M. A. Buchanan, A. K. Mahrous, B. M. Fish, and P. Jani. "Oncological safety of the Hayes-Martin manoeuvre in neck dissections for node-positive oropharyngeal squamous cell carcinoma." Journal of Laryngology & Otology 126, no. 10 (August 21, 2012): 1045–48. http://dx.doi.org/10.1017/s0022215112001740.
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AbstractIntroduction:The Hayes-Martin manoeuvre involves ligation of the posterior facial vein and superior reflection of the investing fascia below the mandible to preserve the marginal mandibular nerve. The peri-facial nodes thus remain undissected. We perform this manoeuvre routinely during modified radical neck dissection for metastatic oropharyngeal squamous cell cancer. Here, we review the oncological safety and marginal mandibular nerve preservation rates of this manoeuvre from 2004 to 2009.Method:Retrospective review of the head and neck oncology database (2004–2009) at Addenbrooke's Hospital, Cambridge, UK, a tertiary referral centre for head and neck oncology.Results:Thirty-four patients underwent modified radical neck dissection for metastatic oropharyngeal squamous cell carcinoma. The primary tumour included the tonsil in 19 cases, base of tongue in 10 and posterior pharyngeal wall in 5. The neck nodal status was N1 in 4 cases, N2a in 11, N2b in 10, N2c in 4 and N3 in 5. All patients had adjuvant radiotherapy. Median follow up was four years (range, two to five). No peri-facial nodal region recurrences were seen. Four patients had temporary marginal mandibular nerve weakness; beyond two months, no weakness was seen.Conclusion:In neck dissections for oropharyngeal squamous cell carcinoma, the marginal mandibular nerve and accompanying facial nodes can be safely preserved without oncological risk using the Hayes-Martin manoeuvre.
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Thomson, Peter J. H., Dennis Clough, and Fred J. Ellermeier. "Investing in Facilities when No One is Forcing You To: Doing the Right Thing without a Gun to Your Head." Proceedings of the Water Environment Federation 2012, no. 6 (January 1, 2012): 8368–82. http://dx.doi.org/10.2175/193864712811704413.
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Richardson, Scott, Pedro A. C. Saffi, and Kari Sigurdsson. "Deleveraging Risk." Journal of Financial and Quantitative Analysis 52, no. 6 (December 2017): 2491–522. http://dx.doi.org/10.1017/s0022109017001077.
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Deleveraging risk is the risk attributable to investing in a security held by levered investors. When there is an aggregate negative shock to the availability of funding capital, securities with a greater presence of levered investors experience extreme return realizations as these investors unwind their positions. Using data on equity loans as a proxy for the degree of levered positions in a given stock, we find robust evidence of deleveraging risk. Stocks with a high degree of short selling experience large positive returns and a decrease in short selling around periods of funding capital scarcity.
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Habib, Irfan. "Religion, accumulation and credit in Mughal times—Evidence from the Vrindavan archives." Studies in People's History 6, no. 2 (November 29, 2019): 162–69. http://dx.doi.org/10.1177/2348448919872289.
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This is a study of how the holy men of Vrindavan—the Gosā’ins of the Chaitanya sect—accumulated wealth and property, and how this enabled them to further augment it by investing in land, credit and usury. They lent money against mortgage of peasant-held land, which resulted in further land-acquisitions. The study is based on the large amount of private papers preserved by the Gosā’ins since c. 1550, mainly in Persian but also in Braj. This material in the form of photographs and xerox copies was collected by the late Dr Tarapada Mukherjee.
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Visagie, S., and E. Koekemoer. "What it means to succeed: Personal perceptions of career success held by senior managers." South African Journal of Business Management 45, no. 1 (March 31, 2014): 43–54. http://dx.doi.org/10.4102/sajbm.v45i1.116.
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This research describes the findings of a qualitative study which analyses how senior managers conceptualise and experience career success for themselves. A non-probability voluntary sample of 24 senior managers, using objectivecareer success criteria, was selected from two international financial institutions located in Johannesburg. This research study entailed semi-structured in-depth interviews that were digitally voice recorded, transcribed verbatim, and analysedusing content analysis. In exploring career success from the perspective of the individual (i.e. the senior manager) and not the organisation, the research attempts to fill the gap in the career literature. Findings demonstrate that although senior managers have general conceptualisations of what career success entail, they have unique personal meanings which they associate with their own career success (e.g. being associated with successful business brands, receiving feedback and recognition and adding value to the organisation). Senior managers also have specific goals set for their future in terms of careers (e.g. owning your own business venture, embracing new opportunities and investing in the community). Talent retention is particularly important among senior managers. Thus, in order to retain them as valuable employees, it is crucial to address and fulfil their career needs accordingly.
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Ogbuabor, Chukwunweike A., and Damian Uche Ajah. "Can a Foreigner Own Land in Nigeria? The Supreme Court Decision in Gerhard Huebner v Aeronautical Industrial Engineering and Project Management Company Limited." Journal of African Law 64, no. 1 (January 20, 2020): 127–41. http://dx.doi.org/10.1017/s0021855319000330.
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AbstractIn a landmark decision on 17 April 2017, the Supreme Court of Nigeria held that foreigners cannot legally and validly own land in Nigeria. This decision is of significant interest for the international investing community. The decision is a curious one and deserves close scrutiny. It was based on the court's interpretation that the Land Use Act provides that all lands in Nigeria are to be held in trust by the governor of each state for the use and benefit of all Nigerians. This note posits that the Supreme Court decision was completely erroneous and that, contrary to that decision, the correct position of the law is that foreigners can lawfully and validly own land in Nigeria provided that they are not enemy aliens.
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Clancey, Erin, and John A. Byers. "A comprehensive test of the Trivers–Willard hypothesis in pronghorn ( Antilocapra americana )." Journal of Mammalogy 97, no. 1 (October 28, 2015): 179–86. http://dx.doi.org/10.1093/jmammal/gyv168.
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Abstract The Trivers–Willard hypothesis (TWH) predicts that in a polygynous mating system, when fitness of male offspring is more variable than fitness of female offspring, mothers should invest more heavily in the sex with the highest marginal fitness returns. Females in good condition or high social rank should benefit by investing in sons, and females in poor condition or low social rank should benefit by investing in daughters. Many empirical studies have tested different aspects of the TWH, but no study has tested the assumptions and predictions in a single polygynous species using measures of maternal condition and maternal social rank, while accounting for random effects that can also influence offspring growth and survival. Here, we followed individuals in an isolated population of pronghorn on the National Bison Range, Montana, over multiple generations and tested the assumptions and predictions of the TWH. Pronghorn females who were in good condition or were socially dominant weaned larger fawns that were in better condition, but this advantage did not increase male fawn survival or reproductive success. We detected a slight bias in birth sex ratios according to maternal social rank, but overall we did not detect any adaptive benefit to mothers adopting a sex-biased investment strategy.
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Thuy Van, Ha Thi, Dam Bich Ha, and Hoang Thi Viet Ha. "Vietnamese Commercial Banks in Global Integration Context: Opportunities, Challenges and Recommendations." Accounting and Finance Research 6, no. 3 (August 21, 2017): 184. http://dx.doi.org/10.5430/afr.v6n3p184.
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In the context of integration, Vietnam has held increasing attraction for investors in many fields including that of providing financial services from Vietnamese commercial banks. Therefore, the commercial banking system needs to be prepared for competition as the number of foreign banks investing in Vietnam is on the rise. In particular, with the implementation of the international commitments in the financial sector, the commercial banking system in Vietnam will have a lot of opportunities as well as challenges. The purpose of this study is to propose opportunities, challenges and some recommendations for sustainable development of the commercial banking system in Vietnam.
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Rehman, Zobia, and Claudiu V. Kifor. "Applications of Ontologies in Knowledge Management Systems." ACTA Universitatis Cibiniensis 65, no. 1 (December 1, 2014): 78–80. http://dx.doi.org/10.1515/aucts-2015-0014.
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Abstract Enterprises are realizing that their core asset in 21st century is knowledge. In an organization knowledge resides in databases, knowledge bases, filing cabinets and peoples' head. Organizational knowledge is distributed in nature and its poor management causes repetition of activities across the enterprise. To get true benefits from this asset, it is important for an organization to “know what they know”. That’s why many organizations are investing a lot in managing their knowledge. Artificial intelligence techniques have a huge contribution in organizational knowledge management. In this article we are reviewing the applications of ontologies in knowledge management realm
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Moskowitz, Tobias J., and Annette Vissing-Jørgensen. "The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?" American Economic Review 92, no. 4 (August 1, 2002): 745–78. http://dx.doi.org/10.1257/00028280260344452.
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We document the return to investing in U.S. nonpublicly traded equity. Entrepreneurial investment is extremely concentrated, yet despite its poor diversification, we find that the returns to private equity are no higher than the returns to public equity. Given the large public equity premium, it is puzzling why households willingly invest substantial amounts in a single privately held firm with a seemingly far worse risk-return trade-off. We briefly discuss how large nonpecuniary benefits, a preference for skewness, or overestimates of the probability of survival could potentially explain investment in private equity despite these findings.
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Michail, Domna. "Working here, investing here and there: present economic practices, strategies of social inclusion and future plans for return among the Albanian immigrants in a Greek–Albanian border town." Southeast European and Black Sea Studies 9, no. 4 (December 2009): 539–54. http://dx.doi.org/10.1080/14683850903315029.
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Dibble, W. Flint. "Data Collection in Zooarchaeology: Incorporating Touch-Screen, Speech-Recognition, Barcodes, and GIS." Ethnobiology Letters 6, no. 2 (December 18, 2015): 249–57. http://dx.doi.org/10.14237/ebl.6.2.2015.393.
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When recording observations on specimens, zooarchaeologists typically use a pen and paper or a keyboard. However, the use of awkward terms and identification codes when recording thousands of specimens makes such data entry prone to human transcription errors. Improving the quantity and quality of the zooarchaeological data we collect can lead to more robust results and new research avenues. This paper presents design tools for building a customized zooarchaeological database that leverages accessible and affordable 21st century technologies. Scholars interested in investing time in designing a custom-database in common software (here, Microsoft Access) can take advantage of the affordable touch-screen, speech-recognition, and geographic information system (GIS) technologies described here. The efficiency that these approaches offer a research project far exceeds the time commitment a scholar must invest to deploy them.
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Bubnys, Arūnas. "The View of Lithuanian Statehood Held by the Polish Underground During 1939–1944." Lithuanian Historical Studies 9, no. 1 (November 30, 2004): 57–73. http://dx.doi.org/10.30965/25386565-00901004.
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This article investigates the Polish underground’s view of Lithuanian statehood, territorial integrity, and Lithuanian-Polish relations during the Second World War. The concept ‘Polish underground’ is applicable not only to the military organisation, which came to be called the Armia Krajowa (AK) in 1942, but also the secret civil administration, called the Delegation of the Government to the Country. The article investiga tes not only the view of Lithuania held by the Polish underground operating in Lithuania (primarily the Vilnius area) but also the Polish underground’s central leadership in Warsaw as well as the view held by the Polish government-in-exile. The author used Lithuanian and Polish archive documents and works by historians from both countries.
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Bradfield, D. J., and C. S. Ardington. "On international fund construction in South Africa." South African Journal of Business Management 28, no. 3 (September 30, 1997): 88–96. http://dx.doi.org/10.4102/sajbm.v28i3.793.
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This article focusses on portfolio construction in markets where legislation restricts investors from investing in international markets. An extended market model is implemented to additionally estimate a component of foreign market risk. In the first part of the article the decomposition of the risk of securities on the Johannesburg Stock Exchange (JSE) is empirically demonstrated. In the second part an automated portfolio construction methodology based on the resulting foreign risk estimates of the model is empirically tested on the JSE. The results confirm there is potential for improving the performance of existing 'international' funds on the JSE using more rigorous quantitative approaches such as the one proposed here.
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Alhabeeb, M. J. "Comparative Analysis of the Traditional Models for Capital Budgeting." International Journal of Marketing Studies 8, no. 6 (November 11, 2016): 16. http://dx.doi.org/10.5539/ijms.v8n6p16.
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<p>Financial decision making for investing firms requires metric tools for comparison and analysis. The managerial choice among many investment alternatives with complex possibilities has made it easier to rely on the now more advanced computer programs of simulation that considers the uncertainty and stochastic changes in the cash flow and risk levels. The major drawback here, especially in the academic world, is the increasing dependency on software and departing from the underlying mathematical reasoning that is most practically fathomed by the manual problem solving. This paper goes back to the tradition on analyzing and comparing the major models of capital budgeting.</p>