Abnormalities in returns and gains in financial markets Assignment

Abnormalities in returns and gains in financial markets - Assignment Example Questionable interests have been raised as a means of gaining an insight in causes of the abnormalities in the financial market studies. Much of the interest raised has been directed towards understanding the nature of the gains on both the two major types of offers. It is important to know whether the gains are truly anomalous or whether they are communal with the firms that are nonevent with features that are connected to the average returns. According to Famar & French (1993), book to market equity and size are the two variables believed to have connection with the average stock return (ASR). The long term buy and hold returns only apply for the size and this may result to the outcome being affected by additional variables that are common with the average return. Famar and French’s research aimed at comparing the half a decade period buy-and-hold gains on initial public offers that had gains on portfolios that matched the initial public offers on size and book to market equ ity. The two types of public offers were not considered in the research. The study led to helpful findings. A half decade relative wealth increased from a percentage of seven to about a hundred percent. The study showed that buy and hold gains on securities equity discount are almost equal to the one produced by the non event portfolios with common size and BE/ME. Independent studies conducted by different researchers led to the deduction that the two types of public offers were minimal growth stocks.

Focusing the Study Essay Example | Topics and Well Written Essays - 500 words

Focusing the Study - Essay Example Two distinct studies all base their research on the subject although with different approaches and purposes. A qualitative study by Mohr, Webb and Harris titled ‘Do Consumers Expect Companies to be Socially Responsible? The Impact of Corporate Social Responsibility on Buying’ attempts to focus on the problem of whether corporate social responsibility actually impact profitability within organizations, (Mohr and Webb, 2005). The key questions asked within the study include; whether from consumer’s perspective corporations have to be socially responsible to society; the nature of this responsibility; how much knowledge consumers think they have on the level of the social responsibility of the firms; if the consumers really care of the firm’s social responsibilities and what motive consumers actually attribute to corporations that participate actively in society’s affairs. The paper uses a number of methods including in-depth interviews and has the purp ose of coming up with a clear understanding on what the public expects on these corporations with regards to social responsibility, (Mohr and Webb, 2005). The second study titled ‘Corporate Social and Financial Performance: A Meta-analysis’ by Orlitzky, Schmidt and Rynes uses a quantitative approach in assessing the relationship between the corporate social performance and the resulting financial performance. The quantitative study conducts a meta-analysis of 52 studies with a total sample size of 33,878 observations, (Orlitzky, Schmidt and Rynes, 2003). The study’s specific objectives were to provide a statistical integration of accumulated research between CSP and CFP, examine key determinants of both CSP and CFP and integrate empirical research in the context of diverse studies. The Hypothesis stated that ‘Corporate Social Performance and Financial performance are generally related across a wide variety of

E-Business Research Paper for Golfing Paradise Essay Example for Free

E-Business Research Paper for Golfing Paradise Essay 1. Introduction: This paper consists of two tasks. Task I seeks to discuss and analyze migration of a traditional retail business to the Internet using the case of Golfing Paradise while Task 2 examines Internet security as concern for the same company. 2. Project Overview The whole project for Golfing Paradise, Victoria local retailer of golf equipments and accessories aims to migrate into the Internet to increase sales. 3. Overview of the migration project The migration project does not change the industry where Golfing Paradise belongs. It just proposes the benefits of expanding customer base in the Internet but not without costs and risks. 4. Summary of Scope, Activities, Costs, Milestones, Dates/durations, Resources, Deliverables, Risk factors, Gantt chart. The first two months require buying of equipments (computers and transportation), IT programs and software and hiring of additional personnel to man online business that may operate 24 hours a day and seven days week. Risk factors are discussed in relation to the choices of having and not having the same but not having the same without the opportunities is less preferable. 5. Management Summary This paper answers some of the relevant and materials concerns of Golfing Paradise in deciding to migrate into the Internet in selling its products to more customers. The company hopes to increase customer. Hence it will need to make some investment (Brigham and Houston, 2000) in new equipments and the hiring or retraining of some personnel to bring them to its new way of doing business. The benefits are of course increase profits from increased revenues (Meigs and Meigs, 1995) but also increase costs that may come from transportation costs depreciation of new equipments and even salary payments for new staff. 6. Main Body 6.1 Important facts for analysis: The business Golfing Paradise is currently providing Golf products through a network of 3 retail premises across Victoria. The products include Golf equipment such as clubs, buggies, golf balls as well as sports clothing and golf accessories. Golfing Paradise is selling both Australian made and imported products. The management of Golfing paradise has decided to expand its operations to the Internet, providing service to existing customers and attract new ones by offering products online. 6.2 Questions and Answers 6.2.1 Describe three of the most important issues that Golfing Paradise will face in migrating the same type of business to the internet. The three of the most important issues that Golfing Paradise will face in migrating the same type of business will include the following: (a.) What products will have to be sold online and how to bring or deliver the products to customers expected revenues that may be generating in migrating it retail trade? ; (b) What is the extent of the coverage area where products of the business could be sold? ; and (c) How will payment systems be modified as a result of migrating its business to the Internet. Each is described and explained below: 6.2.1.1 Products to be sold online and how to bring or deliver the products to customers? The online business is an addition to the traditional retail business will have to visit the stores. Hence, customers online would most like purchase by visiting the stores or they would request for delivery of their products to their homes, business place or an place of need. Determining therefore what products (Kotler, 1994) to be sold on line should be material issue to decide specially on customers who will choose to have the products they ordered online to be delivered. Case facts say that products include Golf equipments such as clubs, buggies, golf balls as well as sports clothing and golf accessories and said products are also include both Australian made and imported products. The guide to determine which products to sell should be estimated on the probability that the customers ordering online would have their products delivered on time and they are ready to pay for any shipping charges that may charged by the company. An online buyer preferring orders to be delivered to their place of business is one of those who do not have the chance to visit the store, hence Golfing Paradise must be able to deliver goods on time as per order to the customer. Those who can visit the store, customers should be allowed provide clear guide to reach the place of business or any authorized outlet from which customers could pick up the goods. 6.2.1.2 The extent of the coverage area where products of the business could be sold The coverage area where products are to be sold will make persons ordering online to know whether they could have the goods that are offered for sale on line. Since the Internet is accessible almost worldwide if not worldwide, it would be impossible for Golfing Paradise to reach every customer when its present place of business is only in Victoria, Australia Case facts provide that Golfing Paradise is currently providing Golf products through a network of 3 retail premises across Victoria and the products both include Australian made and imported products. If Golfing Paradise is ready to go outside Victoria, it must provide so in its website up to what extent. It may for example want to limit only to Australia but as discussed earlier the business must be capable of delivering its representation of its products. Case facts also provide that the management of Golfing paradise has decided to expand its operations to the Internet, providing service to existing customers and attract new ones by offering products online, hence the extent of coverage will have to be clearly defined. If customers outside Victoria will have to be considered, where will the customers pick up their orders? Will Golfing Paradise need to set up already an outlet outside Victoria? This decision must be made after the demand for company’s products may have expanded that would justify the cost of putting a sales outlet outside of Victoria. 6.2.1.3 The manner of payment system a result of migrating its business to the Internet Selling online presupposes dealing with people who are prepared to enjoy the benefits of trading in the Internet. The company must therefore consider whether it would limit accepting payment through credit card, aside from cash or will it also accept electronic currencies? The decision as to the mode of payment that may be accepted carries with them different requirements for administration that may involve hiring of additional personnel or acquiring computer systems, for the smooth running of the system. This must therefore be tied up with the later topic on Web design of the business as part of the marketing strategy (Churchill and Peter, 1995). 6.2.2 Discuss two possible internet marketing strategies that you could employ when migrating the business to the internet. The traditional ‘Four P’s of Marketing’ includes product strategy, place strategy, promotion strategy and price strategy. We will consider some of these on online selling. We will consider as part of our strategy product, place and promotion strategies. Lowery (2006) agreed with us when she said, that developing a successful internet marketing strategy is an essential part of online success. In order to succeed, we must develop and implement a strategic plan that includes all of the following: (a) A great product, (b) A web site specifically designed to sell, and (c) A killer marketing strategy. 6.2.2.1 Developing Your Product Lowery (2006) said, â€Å"Your first step will be to develop a great product. Youre probably thinking thats easier said than done, but its really not. The absolute best product is one that you can develop you and deliver over the Internet. With todays technology, there is absolutely no reason why you cant create your own product. The knowledge you have within your own mind is extremely valuable. Everybody is good at something, has a special talent or some specialized knowledge. Use this knowledge to create a product.† Lowery (2006) further said, â€Å"The key to developing a great product is exclusiveness. Your product should be unique and not be in competition with hundreds of other similar products. You must give your potential customers exactly what they want. Develop a high-quality product that fills a void to increase your chance of success.† Another consideration of great importance is Golfing target market. Let us keep in mind that the Internet is a global marketplace and developing a product with a large geographic target and a wide appeal will fulfil a need or desire and provide instant gratification. Thus, before we develop our product, hence, we have to do some research and find out exactly what people want and develop your product accordingly. The most important consideration when developing our product should be quality since Our product should not only deliver what we promise, but should go above and beyond the expected and over deliver. It is thus a reality that customer’s satisfaction is of the utmost importance. (Lowery, 2006 ) (Paraphrasing made). 2.2.2.2 Our promotions and place strategy Developing our website will be and indispensable part of migrating out business in the Internet. Doing the same actually satisfies place strategy because the said strategy means proving the customers the availability of the products to customers when they are needed. In the website therefore customers will have a chance to see the products that could be sold online and which could not be. In the same website a customer can chat or communicate via email with customers services that will assist the customer in brining the goods to the customers. Lowery (2006) said, â€Å"Once youve developed a great product, your next step will be to develop a great web site. Your web site must be specifically designed to sell your product.† It added, â€Å"Everything within your web site should have one purpose getting your visitor to take action. Words are the most powerful marketing tool you have. The right words will turn your visitors into customers. The wrong words will cause them to click away and never return. Lowery (2006) further made the following advice: â€Å"Your words are the entire foundation of your business. Your product, your web site and your marketing strategies all depend upon your words. Fancy graphics dont make sales words do. She added: â€Å"Every word, sentence and headline should have one specific purpose to lead your potential customer to your order page. Write your web site copy as if you are talking to just one person. Identify a problem and validate that one visitors need for a solution. Continue to write and explain why your product is the solution to their problem. Tell them exactly what your product will do for them why it will solve their problems and how. Pack your copy with benefits and more benefits. Write to persuade thats the bottom line.† Developing the website would constitute the big part of the work since this where online business will most likely depend. 2.2.3. How to Develop Marketing Strategies? Marketing strategy is the final process of the migrating plan which must include both short-term and long-term strategies in order to succeed. Lowery (2006) agreed when she said that short term marketing strategies are those that bring a temporary boost in traffic. Although these techniques are very important to our over-all plan, they are only a temporary traffic source and must not be solely relied upon. These short term marketing strategies normally include purchasing advertising, bulletin boards and search engines (Lowery, 2006) (Paraphrasing made). It must be stated that marketing should be ingrated with corporate strategy. (Porter, 1980) Lowery (2006) added that long term marketing strategies are those that bring the company a steady stream of targeted traffic over time and these strategies are believed to continue to produce results even years down the road. She added that long term marketing strategies include: Opt-in Lists, Freebies and Content (Paraphrasing made). By creating and implementing a balanced marketing strategy, using both short-term and long-term strategies, the company will drive a steady stream of targeted traffic to our web site. (Lowery, 2006) (Paraphrasing made).   It must be pointed that developing a marketing strategy is dynamic thing because of fast changing environment. 7. Costs and time frame for delivery The benefits that Golfing Paradise expects to gain from migrating of course could be roughly estimated to gross or net profit margin on a per customer basis. Stated simply, the company would be pricing its products and services above cost. Costs (Slavin, 1996) here of course includes capital cost on additional investment in terns of computer systems and salary of new additional staff that may be hire including all other cost of doing business on line 8. Conclusion: Golfing Paradise decision to go on line is the right mode to expand the number of its customers. It need not abandon the retail trade. However, in so migrating its business to the Internet, it needs to consider different factors in such change of business. Migrating to Internet involves all the benefits of the system like increasing the number of customers. However, it also will entail new ways of doing business for which it must be able to serve orders on line with define authorities. Customers on line may also need to pay in forms other than money and credit cards; hence the company must be ready in any eventuality. I must prepare a list of what goods may be sold on line including estimates for delivery cost for those who may want to pot for delivery. These and other things must be done by Golfing Paradise prefer to have more customers. TASK 2 (10 marks): Security Two of the security issues that the business has been left exposed include the issues of preventing internet fraud and other one is all other internet security problem. As to how each of the issue is fixed is explained below: To say that fraud could prevented in the internet sound like bringing the whole humanity to the moon. George (1999) talked of IT criminals like the hackers who just steal other money by their ingenuities and who profit from many innocent card owners by accident by pure ignorance. Even in the manual world fraud happened because people connive and so crimes get committed. The Internet is a new world with new and unfamiliar rules. Business happens online and there could be no one who would be regulating transactions particularly those happens across countries. There might be organizations like international courts but many on line users would yet to agree if the people who get victimized may opt to go to court, since no one may be user what could will have jurisdiction. As to Golfing Paradise, although it may limit its area coverage from whom it may take payments, it cannot be sure of perfectly preventing fraud. The best way is the use of common sense and knowledge of how the business environment in the net functions. The other issue is security where files and computer soft wares could be rendered useless by ‘viruses’ or ‘spy wares’ or eve ‘phishers’ (Wikipedia, 2006) . For business rendered online such problems are inevitable and some may even be discouraged of migrating in the Internet but simply opportunity lost in not migrating might be more punishing. Hence the attitude is to protection to acquire the latest software and some of them may yet be downloadable from the Internet. It is thus the choice of avoiding the problems but no chance for improvement or joining and braving the risk but with great chance for growth. I believe more will take the risk of migrating because of opportunities. References: Brigham and Houston (2000) Fundamental of Financial Management, Thomson South Western, USA Churchill and Peter (1995), Marketing, Creating Value for customers, Irwin, Sydney Australia George, K. (1999), Different World, Praxis Business Line’s Journal on Management, Vol. 2 : Iss. 3 , {www document} URL www.hinduonnet.com/businessline/praxis/pr0203/02030400.htm, Accessed Nov. 19,2006 Kotler, P. (1994) Marketing Management, Prenctice Hall International, London , UK Lowery, S. (2006) Internet Marketing Strategies, Part One: Three Step Formula, {www document} URL http://www.web-source.net/3steps.htm Meigs and Meigs (1995), Financial Accounting, McGraw-Hill, New York, USA Porter (1980), Competitive Strategy, Free Press, USA Slavin (1996) Economics, Irwin, London, UK Wikipedia, (2006) Phising, {www document} URL http://en.wikipedia.org/wiki/Phising, Accessed November 18,2006

Television Talk Shows Essay -- Entertainment Papers

Television Talk Shows The United States’ longest running program is actually a news/talk show called Meet the Press. It began as a radio program in 1945, and had little changes when it was aired on NBC for the first half-hour television broadcast in November 1947. Meet the Press May have been the first talk show to be shown on television, but it wasn’t the first regularly scheduled talk show. Sylvester Weaver produced the first regularly programmed talk show called Broadway Open House from May 1950 to August 1951. Two Veteran Jerry Lester and Morey Amsterdam, who were stand up comedians, shared the hosting duties for this talk/variety program. Broadway Open House was a mixture of routines, singing, dancing and comedy, which would start a trend of new talk shows to soon follow. The Tonight Show staring Johnny Carson, which premiered October 1, 1962, was one of those shows that followed Broadway Open House. With Johnny’s little competition, appearing on his show became one of the first big breaks for many upcoming stars on the road of fame and fortune. His show became so big that Johnny negotiated a deal with NBC to give him 2 million dollars per year, while his taping schedule included twelve weeks of four shows weekly, twenty-five weeks of only three shows a week, and fifteen weeks of vacation. Some of the stars that made got their start on The Tonight Show with Johnny Carson were people like Jerry Seinfield, Roseanne, and Gary Shandling. When Johnny Carson decided to retire, his show was given to comedian Jay Leno, making The Tonight Show one of the greatest and longest running shows ever. Early Morning Talk Shows A typical morning for most Americans consists of eating a hearty breakfast, drin... ...9.htm Larry King Live Retrieved October 29, 2001 from the World Wide Web: http://www.cnn.com/larryking Scott, Gini, Graham. (1996) Can we Talk? The Power and Influence of Talk Shows. New York: Plenum Press. Survey. â€Å"Reason for Watching Talk Shows.† Nov. 1, 2001. Survey. â€Å"Talk Shows Watched by Students.† Nov.1 2001. Studios USA(2001). Report: Maury Povich. Nov. 1, 2001. Retrieved from the World Wide Web:http//www.studiosusa.com/maury/html. The Rosie O’Donnell Show. Oct. 20, 2001. Retrieved from the World Wide Web: http://ytv.yahoo.com/fc/ytv/rosie_o_donnell_show. Tolson, Andrew. (Eds.). (2001). Television Talk Shows. New Jersey, Mahwah: Lawrence Erlbaum. T.V. Talk Shows( 2001). Report: Research on T.V. Talk Shows. Oct. 18, 2001. Retrieved from the World Wide Web: http://www.Missouri.edu/~advcf/tv-talk-shows.html.

Current Issues in Motivation Essay

Motivating a Diverse Workforce –Flexibility is the key to motivating a diverse workforce †¢ Diverse array of rewards necessary to satisfy diverse personal needs and goals. Flexible Working Schedule †¢ compressed workweek – employees work longer hours per day but fewer days per week. †¢ Flexible work hours (flextime) – employees required to work a specific number of hours a week but are free to vary those hours within certain limits – System entails common core hours when all employees are required to be on the job – Starting, ending, and lunch-hour times are flexible †¢ Job sharing – two or more people split a full-time job †¢ Telecommuting – employees work at home and are linked to the workplace by computer and modem. – Cultural Differences in Motivation †¢ Motivation theories developed in the U.S. and validated with American workers †¢ may be some cross-cultural consistencies Pay-for-Performance – Instead of paying for time on the job, pay is adjusted to reflect some performance measure – Compatible with expectancy theory †¢ imparts strong performance-reward linkage – Programs are gaining in popularity †¢ Research suggests that programs affect performance. Open-Book Management – involve employees in workplace decisions by opening up the financial statements – Workers treated as business partners – get workers to think like an owner – may also provide bonuses based on profit improvements Motivating the â€Å"New Workforce† – Motivating Professionals – professionals tend to derive intrinsic satisfaction from their work and receive high pay †¢ More loyal to their profession than their employer †¢ value challenging jobs and support for their work Motivating Contingent Workers – part-time, contract, or temporary workers †¢ Less security and stability than permanent employees – receive fewer benefits †¢ display little identification or commitment to their employers †¢ Hard to motivate contingent workers – Opportunity to become a permanent employee – Opportunity for training †¢ Repercussions of mixing permanent and contingent workers when pay differentials are significant Motivating Low-Skilled, Minimum-Wage Employees †¢ Difficult challenge to keep performance levels high †¢ Employee recognition programs – highlight employees whose work performance has been good – encourage others to perform better – Power of praise †¢ In service industries, empower front-line employees to address customers’ problems – tie compensation to customer satisfaction

Christopher Columbus s The New World - 1619 Words

The Federal holiday of ‘Christopher Columbus Day’ is celebrated on the second Monday of October because of Columbus’s ‘discoveries’ of the Americas in the New World. What most people do not know is that Christopher Columbus’s intentions were only for the betterment of himself. Columbus was a devout Catholic and could have been looking to spread the word of God to the ‘Indies’, his main goal was to find a water route from Europe to the West Indies. How did Christopher Columbus’s motives impact the way he and other conquistadors viewed and treated the Indians? Columbus s desire for kind of wealth, especially gold in the New World strongly impacted the way he looked upon them. He saw that the Indians practiced no religion that he had seen†¦show more content†¦Columbus was amazed at how easy it was to trade with the Natives, in some scenarios he would not even have to trade with the Natives, in some scenarios he would n ot even have to trade the Natives would give him gold and other jewelry out of courtesy. â€Å"This day, he says, Martin Alonso Pinzon, because of greed and without the permission and will of the Admiral, departed with the caravel Pinta, thinking that an Indian whom the Admiral had ordered put on that caravel was going to give him much gold.† Columbus’s colleague, Pinzon was foolish in the eyes of Christopher, Pinzon, already had wealth secured for him by the Spanish Nobility. Christopher Columbus throughout various islands in search of sources of wealth, when he would come upon a native, Columbus would ask if there was any gold, he was told to keep going south. Columbus was sent by the Spanish nobility to find gold, if he could not complete his mission there was to be consequences. The natives in his mind should have been used to help him find the gold that they promised them was there to find. What Columbus did not know is that the gold they first took from the Nativ es was from many the findings of many generations. â€Å"So he ordered all Indians from the age of fourteen up, to collect a fixed amount of gold every three months. Each person who delivered his tribute of gold was given a copper

Christian and Biblical References Hidden Within “the Rime...

Mike Peirce Professor: Mahlika Hopwood Text amp; Context: Imagination and Reality Due: March 8th, 2012 Christian and Biblical References Hidden Within â€Å"The Rime of the Ancient Mariner† Christian and Biblical references have been involved in the craft of writing since the birth of religion; or at earliest, the composition of the Bible. Biblical Symbolism in â€Å"Rime of the Ancient Mariner† Samuel Taylor Coleridges poem, which was written in 1797, has been widely discussed throughout literary history. Although critics have come up with many different interpretations of this poem, one idea that has remained prevalent throughout these discussions is the apparent religious symbolism present throughout this poem. The Ancient†¦show more content†¦Cleary seen in the quotation above, the curse resulting in the murder of Albatross left the Mariner viewing death as the only possible option to relieve himself of the haunting, tragic images that left his crew dead. Under the moonlit sky as the Mariner’s ship still sails cursed, but then he witnesses something that changes his perception of God and his faith. â€Å"Beyond the shadow of the ship, / I watch’d the water-snakes: / They moved in tracks of shinning white, / And when they rear’d, the elfish light / Fell off in hoary flakes. / Within the shadow of the ship / I watch’d their rich attire: / Blue, glossy green, and velvet black, / They coil’d and swam; and every track / Was a flash of golden fire. / O happy living things! No tongue / Their beauty might declare: / A spring of love gush’d from my heart, / And I bless’d them unaware: / Sure my kind saint took pity on me, / And I bless’d them unaware. / The selfsame moment I could pray; / And from my neck so free / The Albatross fell off, and sank / Like lead into the sea.† (Line 272). It is at this point that the Mariner begins his transformation; leading him closer to God allowing him to see the beauty in all of God’s creations and creatures as he forms a respect for the presence of God in nature. This reconciliation in the Mariner’s life breaks the curse and shines a light of hope into the eyes of a man who was praying for death. Coleridge