Growing Interest of Business Ethics - 2879 Words

Introduction: There is an augmented interest in the business ethics for the past ten years. This escalating interest and desire to understand better ethical performance and decision making led to the development of many models research hard work especially about the ethical environment and ethical cultural concepts. Many models concerning these concepts refers that ethical environment in effected by the individual characteristics and appropriate factors like values, codes, rules, organizational form etc. One of the most important factors in the organization explicit factors regarding ethics is leader behavior because leaders are seen accountable for motivating moral values and ethical standards in their subordinates (Dickson et al., 2001;†¦show more content†¦More comprehensive and complex evaluation of the scales measuring ethical acuity was presented by Vitell and Ho (1997). Just not liking a product and service would not be considered unethical. E.g. if parking lot is full it is not co nsidered to be unethical behavior of the business it will be when business had misleading promises that convenient parking lot will always be available. Different corporate scandals have established the necessitate of corporate interior codes enlargement to apply on the members of Board of Directors and top administration in order to espouse standing, ethical performance, and uprightness of companies (Aldama, 2003; Australian Stock Exchange, 2003; Higgs, 2003; New York Stock Exchange, 2003; OECD, 2004). It is become indispensable to affirm the behavior of all other worker by adopting a code of ethics (Australian Stock Exchange, 2003; Independent Directors Association and the Russian Institute of Directors, 2004; International Federation of Accountants, 2007; Investment and Financial Services Association Limited, 2003; New York Stock Exchange, 2003). Business ethics is one of the factors in the corporate social conscientiousness (Carroll, 1991; Schwartz and Carroll, 2003), and corpo rate ascendancy has a enormousShow MoreRelatedA Standard Definition Of Ethics1328 Words   |  6 Pagesdefinition of ethics might be: †the science of morals,† with morals being defined as: â€Å"conforming to, or regulated by what is right† (The Cassell Concise Dictionary, 2012). Defining business ethics is a topic which has numerous opinions; definitions refer to the rightness or wrongness of behavior. What is morally right or wrong, ethical or unethical is not often agreed upon. (Phillip 1985). A person’s ethically beliefs stem from personal opinion which can include, environmental ethics, political ethicsRead MoreBusiness Ethics : Ethics And Social Code Essay1422 Words   |  6 PagesINTRODUCTION Business ethics is a form of ethics which is applied in the field of business and it deals with the ethical issues and principles arising in a business background. In short business ethics means to carry on business for the human welfare and the benefit of the society. Business ethics is the study of business situations, activities and decisions where issues of right and wrong are addressed (Trevino.,1986)†. 1. Nature of Business ethics: The following are the features of business ethics:Read MoreCase Study : Ethics Applied1548 Words   |  7 Pagesthe ethical ramifications of the situation will be facilitated by answering five key questions. Nortel Case Study: Ethics Applied Introduction: Over the last two decades the business world has been rocked by several prominent business scandals such as Enron, WorldCom and Goldman Sachs. Business scandals are not some new phenomena; but with the increasingly global nature of business and industry the economic fall out of ethical lapses or illegal activity have the potential to become global in scaleRead MoreBusiness Etics Abstract1475 Words   |  6 PagesAbstract Business ethics is a form of professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. Applied ethics is a field of ethics that deals with ethical questions in many fields such as medical, technical, legal and business ethics. In this paper we will consider the factor of ‘business ethics’ as an assetRead MoreEthical Issues Faced by the Accountancy Profession Essay1747 Words   |  7 PagesEthics plays an essential and integral part in the accountancy profession. Professional conduct plays an important role in establishing public trust in financial reporting and business practise. Yet this can and has come under threat when clients and employees are exposed to the risk of fraud when accounting ethics are not adhered to. Codes of ethics are adopted to ensure the reliability, comparability and integrity of financial statements. Ethical standards exist to safeguard the fundamental principlesRead MoreStrategy Smart Mart1605 Words   |  7 Pagesï » ¿Smartmart Schulich school of business | Making Strategic Decision for SmartMart | A Reflection on Ethics-LX Simulation Exercise | | Binoy Das (211137007) | Winter-2011, Section-F | This document is my personal reflection on the business simulation on ethics-lx, where I had to take three strategic decision choices for specialty grocery retailer – SmartMart, with an aim to retain their market leadership position as retail supplier of sustainable food products, while at the same time being true toRead MoreBusiness Ethics in India and Brazil1729 Words   |  7 Pagesselected provide excellent summaries of the business ethics in the two countries selected, they are a guide to people wishing to do business in these two developing and fast growing nations. The countries I have selected are India in Asia and Brazil in South America. Both of these countries are part of the BRIC (Brazil, Russia, India and China) group of countries which represent 4 of the fastest growing economies in the world, as such there is a lot of interest with large organizations to enter and benefitRead MoreThe For White Collar Criminals1704 Words   |  7 Pagesdecide to do will eventua lly take the organization to the wrong and right place. Though the Americans started to look at the corporations as entities rather than the activities or decisions of the top individuals. This was due to the conflict of interest that occurred in the construction of railroads where insider deals were made to benefit specific individuals. The policy pooling was used to reduce the restraint of trade that powerful corporations used and therefore many decisions were done involvingRead MoreAnalysis Of Compania De Minas Buenaventura S.a Essay1623 Words   |  7 Pagesowners of mining rights among precious metals in Peru. Founded in 1953, Buenaventura has focused on mining processing, development, and exploration of gold, silver, coal, lead, molybdenum, and zinc. Some highlights of the company [1]: †¢ Owns two growing underground gold mines, as well as the world’s 4th largest silver mine. †¢ Possesses an aggressive and proven exploration program. †¢ Own a 43.65% stake in Yanacocha, Latin America’s largest gold mine and the most profitable in the world. †¢ ProducerRead MoreThe Concept Of Corporate Social Responsibility Essay1696 Words   |  7 PagesThe Concept of Corporate Social Responsibility According to Pearce Robinson (2014), corporate social responsibility (CSR) is â€Å"the idea that business has a duty to serve society in general as well as the financial interests of stockholders.†(P.56) The concept of corporate social responsibility of the business operation must comply with sustainable development idea; the company should not only consider its own financial and operating conditions, but also think of its impacts on the social and environment

A Guide to University Level Essay Topics

<h1>A Guide to University Level Essay Topics</h1><p>Preparing a college level paper can be hard for an understudy. Numerous understudies either don't have the opportunity or the information to effectively compose an exposition, and it is significant that they comprehend the distinction between a school level article and a college level essay.</p><p></p><p>The paper is regularly a school level test, and the manner in which the understudy shows their insight into a subject. In this circumstance, the understudy picks a subject and afterward presents a school level exposition on that theme. This kind of article requires a comprehension of language structure, spelling, and punctuation.</p><p></p><p>Writing an exposition on a subject that has not been tended to in school is an extraordinary open door for an understudy to add a little research to their proposal. Understudies can discover new data on a theme they definitely kn ow very well. In the event that they have made no endeavor to look into the point they pick, in any case, the understudy may pass up on a chance to exhibit their capacity to think fundamentally. For instance, if the understudy had never known about and considered the inquiry, 'For what reason is it imperative to expand the efficiency of an organization or association?' they may discover the appropriate response when they look at a particular organization's arrangement to improve its laborers' productivity.</p><p></p><p>Preparing a college level exposition on a theme that has not been tended to in school is an activity in understudy 'spread your-rear end's composition. These kinds of articles won't stand apart from the opposition; rather, they will get disregarded or even dismissed for submission.</p><p></p><p>The exposition is the main open door for an understudy to exhibit their capacity to peruse and look into, and the primary opport unity to show that they have perused a book or finished a task with a restricted measure of school level composed work. It is additionally an opportunity for an understudy to communicate more completely and capably than they may with a report or other work which was finished in school, however that was introduced in less immediate terms.</p><p></p><p>University level expositions by and large location gives that are legitimately identified with the substance of the school's educational plan. Papers are a path for an understudy to show their comprehension of what is educated in class and to ensure that they comprehend the standards whereupon the class is based. These points may incorporate outside nations, science, and the effect of innovation and globalization.</p><p></p><p>College level papers are a route for an understudy to show how they have developed in information and exhibit that they have perused and looked into a fascinating th eme that they didn't think a lot about previously. These expositions are likewise a route for an understudy to show their capacity to peruse and consider their own insight. Understudies may expound on their history, momentum research, and likely arrangements, yet they likewise may expound on the historical backdrop of their school, and how that school identifies with ebb and flow trends.</p><p></p><p>Preparing a school level article requires an understudy to ponder the point and to pick a paper subject that has not been tended to in past classes. The article is the principal open door for an understudy to find out about their topic, and the main open door for an understudy to show that they have done research on a theme they know next to no about.</p>

Teacher Evaluation Essay Samples Tips & Guide

<h1>Teacher Evaluation Essay Samples Tips &amp; Guide </h1> <h2> The Fundamentals of Teacher Evaluation Essay Samples Revealed</h2> <p>First it gets your peruser inspired by this issue and urges them to peruse what you must state about doing it. Now and again the method for picking evaluative article themes turns into a genuine test. Assessment expositions work best in the event that the perusers can decide the sources you've used to build up the appraisal which they are at present perusing. In case you're composing an assessment article, you should stay objective with the substance that you're introducing. </p> <p>If you're need to figure out how to create extraordinary papers for school there are loads of on-line destinations that may assist you with grasping the thought. Additionally, you should get to-date sources since they give the most recent data on your point. Monetary expositions are in this way not that difficult to compose, you should simply to pick a right point for papers on financial matters. </p> <p>The first thing you need to do when composing an assessment exposition is to be learned concerning the point which you will expound on. The alternative of assessment exposition subject is a critical advance before composing. At the point when it is trying for you to work out an assessment exposition subject, we've arranged a phenomenal assortment of legitimate proposals for your assessment papers. There are an unending number of themes for money related paper you could do your task the slight which matters is the assortment of the point. </p> <h2>Teacher Evaluation Essay Samples Ideas </h2> <p>Such papers are much of the time used to assess a solitary methodology, item, or circumstance, however they could likewise be utilized to analyze two or three comparable things so as to discover which is standout. For the individuals who have a ton of extraordinary considerations and as of now comprehend what you're probably going to compose yet are feeling to s ome degree corroded about the best approach to organize your paper, read the Essay Format Survival Guide. Understudies have occupied existences and every now and again disregard a coming cutoff time. </p> <p>There are various sorts of assessment expositions and you should remember that every last one of them have contrasts dependent on the objective of their creation. There is a wide determination of assessment article models that are particularly made for explicit purposes. In the event that you go excessively wide, you should manage a ton of potential rules and supporting proof, also that it will be increasingly convoluted to create an assessment. Accordingly, the essential basis is significant comprehension of subject. </p> <p>The absolute initial phase recorded as a hard copy an assessment exposition is creating the proposition. On the off chance that you wish to create an assessment paper and get high evaluations, you will unquestionably require a progra m! On the off chance that you might want to make an assessment article, you should be key when it has to do with the introduction of data that could be valuable in the composing action. In actuality, an appropriate assessment exposition will presumably keep away from any one-sided perspectives. </p> <h2>The Most Popular Teacher Evaluation Essay Samples </h2> <p>The key characterizing highlight of this sort of exposition, by the by, is its goal tone. It's vastly improved to hold fast to an increasingly basic and normal subject that will include or know to a wide cluster of crowd. Consider the scholarly control that you need to create the paper for in the absolute first spot. Recall that the central attribute of an assessment exposition is the grouping of your assessment all around your point of view. </p> <h2> Top Choices of Teacher Evaluation Essay Samples</h2> <p>Evaluation expositions can cover a mess of themes that is the motivation behind why it is utilized in a choice of businesses and procedures. Criticism was made to encourage the improvement of the instructor as a teacher. </p> <p>Graduate test continue and precisely what you can. Client care can be found nonstop. </p> <p>You are the individual making the judgment about this issue, it is all dependent upon you to back up your contention in a way that will make it feasible for others to make their own sentiment. While assessment expositions are easy to compose, as you're basically required to assess an item, administration, substance, occasion or something else, there is a solitary driving snare to be watching out for making your piece excessively stubborn. Something else you must consider is whether the source of the paper is solid. Getting in a situation to introduce subtleties, remarks, and data that is straightforwardly connected with the kind of assessment exposition that you're composing can assist you with making a profoundly usable yield. </p>

Argumentative Essay Topics About Substance Abuse

Argumentative Essay Topics About Substance AbuseMany high school students will find it hard to write a persuasive argumentative essay topic about substance abuse. Even the most well-written essay that contains a well-written thesis may not be that persuasive to the high school student's audience. This is because most young adults are raised in families where drinking, smoking, and drugs were part of everyday life.One or more of these various reasons should have been the reason for your abuse in the first place. Regardless of why you have become addicted to drugs, one thing is sure: it is a problem that you can not live with, especially in today's world. We cannot all stay sober forever, but we can be happy.Alcohol and other drugs damage an individual's mind and body in several ways. It creates an excessive desire for things like alcohol and it causes the user to get into physical fights that are beyond their control.There are many teenagers who are also victims of underage alcohol ab use. They are the ones who end up losing their lives because of teenage drug abuse.Their problems usually stem from having a great deal of trouble with the law. These teens have to deal with issues of truancy, and sometimes they end up in jail, too.Drug abuse destroys the victim's life. The drug abuser's friends often get lost in the shuffle and do not have any real relationship with the addict. These are the people who try to make the addict feel better about his situation.All of this information is valuable and it will help you to write a persuasive argumentative essay topic about substance abuse. However, it is important to remember that one thing that will keep you from falling victim to drugs and alcohol is to get help now.

Antigone Essay - 835 Words

Reason and truth are never based on authority. Not even a supreme ruler can decide the right and wrong things to do. Antigone, in â€Å"Antigone† is set on honroing her dead brother even if it means going against her uncle Creon, resulting in a classic father or fatherly figure daughter conflict. In Sophocles’ play â€Å"Antigone†, the combination of Antigone’s stubborn loyalty and her uncle Creon’s hubris result in the main conflict, while also demonstrating that stubornness and pride lead to destruction. To begin, conflict between Antigone and Creon arises when Antigone blatantly disobeys her uncle’s edict due to family loyalty. For instance, when Antigone is trying to convince Ismene to help her bury Polyneices, she exclaims, â€Å"He is my brother.†¦show more content†¦By adding this scene, Sophocles reminds his audience about the dangers and consequences of inflexibility and pride. These three instances all contribute to the conflict Antigone has with her uncle Creon, while stressing how determination and loyalty can lead to destruction. Secondly, Creon’s massive ego is also one of the causes of the argument between him and his niece Antigone. In particular, during his formal address to the chorus, he states , â€Å"Polyneices, I say, is to have no burial...no traitor is going to be honored with the loyal man.† This statement represents the birth of Anitgone and Creon’s conflict, as it leaves Antigone torn between obeying her uncle or honoring her brother. Creon’s desire to demonstrate his power and establish his rule are the root causes of the dispute between him and his niece and unfortunately leads to hardships in both of their lives. In addition, after Creon finds out that Anitgone was the one behind Polyneices’ burial, he exclaims, â€Å"Who is the man here, she or I, if this crime goes unpunished?† Creon’s ego is bruised after he finds out Antigone has disobeyed him, revealing how important his appearance and status is to him. No matter how wrong he is in his dec isions, Creon will never change what he believes is the right punishment for Antigone, which reminds theShow MoreRelated Antigone Essay1318 Words   |  6 PagesAntigone Essay In any story or piece of literature, there will always be the main characters to fill the pages with incessant adventure. The characters whose names appear on almost every page and the characters whose actions the story revolves around. However, a story will also always have its minor characters. These are the characters that contribute heavily to the plot, yet arent mentioned quite as often and are underestimated regarding their importance in the story. In the Greek masterpieceRead MoreAntigone-Pride Essay1277 Words   |  6 PagesPride Essay Antigone â€Å"A proud man is always looking down on things and people; and, of course, as long as you re looking down, you can t see something that s above you.† (C.S. Lewis). Pride can take over the lives of people who have it within them. It is ok to feel proud but if the sense of pride is exaggerated it will lead to arrogance and therefore to problems. In the book Antigone, by Sophocles, pride is displayed as good and bad. Pride can have a big impact on people when it is takenRead More Antigone Essay3001 Words   |  13 PagesSUBJECT Antigone is a play about a woman who disobeyed the Kings order to not bury her brother. The play was written by the famous Greek tragedian, Sophocles, in 441 B.C. The story took place in the city of Thebes and the time period is not mentioned. The main characters introduced in the play are of Antigone, Ismene, Creon, and Haemon. The primary focus was centered on Antigone and the consequences she faces after breaking the Kings orders. In the beginning, the author introduced Antigone and herRead MoreEssay on Antigone1426 Words   |  6 Pagesimprudent judgments will ultimately suffer from the consequences of their actions. In Sophocles Antigone, these prejudices notably surface in the form of paternalism as demonstrated through Creons government, highlighting the importance of gender roles throughout the play. Therefore, analyzing the motif of gender roles and its effect on the definition of justice through the perspectives of Ismene, Antigone, and Creon enables the audience to understand how Sophocles macroscopic analogy to humanitysRead More Antigone Essay1031 Words   |  5 Pagesof drama and tragedy, Antigone can be used to relate to current conflicts. One such conflict is that between Haemon and his father Creon. Haemon looks up to Creon with honor and pride, but as conflict arises, that relation is disassociated and new feelings grow. The first conversation between them is what initiates the downfall of t heir bond. While it seems that Creon is the most important person in Haemon’s life, Antigone is in fact the one that has won Haemon over. Antigone, written by the AthenianRead MoreEssay On Antigone961 Words   |  4 Pagesif Polyneices or Eteocles would be king. Sadly, both end up killing the other, and afterward, King Creon decides not to bury Polyneices since he supposedly betrayed the family. Princess Antigone decided that she was going to bury Polyneices, which eventually she gets caught by a watchman. The watchman brings Antigone to the king who decided that he was going to kill her and her sister, Ismene. The king son, Haemon, was against him killing her, warning him that his decision would cause a problem andRead MoreEssay on Antigone456 Words   |  2 Pagesalways ready to forgive. In Antigone by Sophocles, Creon is immersed in a â€Å"power trip† that alienates and even kills his family. He caused his son, Haemon’s death, his wife, Eurydice’s death and Antigone’s death. Creon views himself as the perfect leader, believes he is always correct, and in turn has to live with the gui lt of three deaths that were his fault. nbsp;nbsp;nbsp;nbsp;nbsp;Antigone goes alone to bury Polynices and deliberately disobeys Creon’s law. Antigone not only lost her two brothersRead More Structure in Sophocles Antigone Essays1944 Words   |  8 PagesStructure in Sophocles Antigone  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚   Aristotle in his Poetics (chap. 7) says: ?[L]et us now discuss the proper structure of the plot, since this is the first and most important thing in tragedy? (1033). M. H. Abrams says that ?almost all literary theorists since Aristotle have emphasized the importance of structure, conceived in diverse ways, in analyzing a work of literature? (300). The matter of the structure of Sophocles? Antigone is a subject of varying interpretation among literaryRead More Irony in Sophocles Antigone Essay2352 Words   |  10 Pagesanother, until, perhaps, the subject of the irony realizes his situation and discovers that when he thought he was most brilliant of impressive, then he was really most absurd. . . .(62).    Let us explore the irony, in Sophocles’ tragedy Antigone, and see if we don’t conclude that, as it applies to King Creon it brings quite the same result as in Jevons’ stated situation.    In Sophocles: The Theban Plays E. F. Watling comments on Sophocles’ usage of dramatic irony in his dramas: â€Å"Read MoreEssay about Antigone1326 Words   |  6 Pages Antigone; The Tragic Hero nbsp;nbsp;nbsp;nbsp;nbsp;Antigone is a classic work that never ceases to be analyzed by critics and students around the world. The debate over who is the real tragic hero of Sophocles’ play Antigone is a topic that is heavily discussed. To this day there is still no agreement. Some people believe that Antigone is the real tragic hero of this tragedy, while others believe that the hero is in fact her uncle, Creon. It is logical to say that Antigone is the tragic

Financial Institution and Markets

Questions: 1. The National Australia Bank wants to obtain short-term funds on the money market and issues a 30 day Certificate of deposit (COD) to a wholesale investor. The amount of the deposit is $20,000,000 and the relevant rate is 4.5% p.a. a) What is the Face Value of one of the Certificates of Deposit? What does this value mean? b) What will be the dollar return to the investor if they hold the COD until maturity? c) If the bank wanted to raise $100,000,000 how many of these CODs would they issue? 2. The Commonwealth Bank issues bonds on the capital market to raise financing for its loans. a) How much financing will the Commonwealth Bank raise if it issues 500 5-year bonds today that pay an annual coupon of 6% and have a face value of $1000 if yields on bonds of similar risk and maturity are 4%? b) What will happen to the price of the bonds in a) if 1 year from now the credit rating of the Commonwealth Bank is increased from AA to AAA? Why? 3. The ANZ Bank (Share code: ANZ.AX) expects to pay a dividend of $0.91 today and dividends are expected to grow at 6% forever. The required return on ANZ shares is 9%. Based on this information would you buy the share today? Answers: (1). (a) In the given question, National Australian Bank has issued a Certificate Of Deposit to a wholesale investor for obtaining short-term fund. The question requires, calculation of Face value of deposit, it is shown as under Calculation Of Face Value Of Certificate Of Deposit Formula Face Value= Purchase Price X (1+ (daily Interest Rate X Term)) In the given Question, Amount Of Deposit $20,000,000.00 Rate Of Interest(p.a) 4.50% Term (Days) 30 Face Value 20073972.6 A Certificate of deposit may be defined as a saving certificate that entitles its holder to receive interest. Certificate of Deposits are issued by the bank as a saving certificate for a short term (Deegan 2013). The holder of the Certificate of Deposit is required to purchase the certificate and at the end of the maturity term is entitled to receive the Face Value. The difference between the Face value received and the purchase price is the return of the investor. Thus Face Value for certificate of deposit may be defined as the amount paid to the holder of certificate at the end of maturity. (b) The Return on certificate of Deposit is calculated by deducting Amount of deposit from the Face Value of the certificate. The investor is entitled to the full return if certificate is held till the date of maturity. In case of premature surrender of certificate, a penalty is usually deducted. In the given case, the investor holds the security till the date of maturity. So the return received by the investor is calculated below. Calculation of Return to the Investor Face Value $20,073,972.60 Amount Of Deposit $20,000,000.00 Return to the investor $73,972.60 (c) The number of Certificate Of Deposit to be issued is calculated by dividing the amount to be raised by issuing certificate with the amount of deposit that is to be made per certificate. Formula Formula Number Of COD= Amount to be raised/ Amount of Deposit In the given question bank is looking forward to raise funds of $1,000,000,000.00 by issuing Certificate of Deposit of value $ 20,000,000.00. The calculation is shown below: Calculation of number Of Certificate of Deposit Amount to be raised $1,000,000,000.00 Amount of Deposit $20,000,000.00 Number Of COD 50 (2). A bond is a debt instrument issued by the bank. The bank pays a fixed amount of interest on the Face value of bond until maturity. At the time of maturity, face value of bond is returned to the bondholders. A bond can be issued at par, discount and premium depending upon the interest rate offered by the bond and the prevailing market interest rate. If the interest rate offered by the bond is less than the prevailing market rate then bond shall be issued at discount. If the prevailing market interest rate is the same as that of bond then it can be issued at par. When the market interest rate is less and the interest rate of the bond is more in such case bond can be issued at premium (Rose and Hudgins 2014). In the given question Common Wealth Bank has issued 6% coupon interest bond of Face Value $1000.00. The prevailing market rate is 4% so the bonds will be issued at premium. The calculation showing the amount raised by the common wealth bank is given below. Formula Premium Bond Price= Face Value of Bond/prevailing market interest Rate X Bond Interest Rate Calculation showing financed raised by issue of Bond Face Value of Bond $1,000.00 Market Interest Rate 4% Bond Interest Rate 6% Bond Price $1,500.00 No. Of Bond Issued 500 Amount Raised by Bank $750,000.00 So the amount raised by the Common Wealth Bank is obtained by multiplying Bond Price with the number of Bond issued. (b) If in one year the credit rating of the bond is increased from AA rating to AAA rating then price of the bond will increase. The reason is that AAA rating means a very high quality bond. The credit rating agencies are engaged in assessing the worthiness of the borrower. After evaluating the worthiness it provides a grade to the security which determines the quality of the security. The higher grade represents a high quality security so the institution can charge more prices for the security. A low-grade security represents a high level of risk so the yield required by the investor is more. There is an inverse relationship between credit rating and yield of the security. Alternatively, it can also be derived that there is a positive relationship between the credit rating and price of the security. That is if the credit rating of a security improves then price of that security in the market will also improve. (3). The cost of capital may be defined as the cost for financing the business. The business may be financed by Equity Share Capital, Preference Share Capital, Debt Capital and from own fund (Hou et al. 2012). The cost of capital is the aggregate weighted average cost of the different sources of capital. The cost of capital is often used for computing the net present value of the investments and it is considered as the minimum rate of return that is required of any investment. The cost of capital serves as an overall basis for evaluating investment decision. The cost of debt is less expensive than cost of equity as interest is tax deductible but dividend is not. The cost of equity share capital includes that part of the cost of capital which are payable to the shareholders. There are various methods of calculating the cost of equity share capital. In dividend yield, method the cost of equity share is the present value of future dividend. It is calculated by dividing Dividend per share by market price per share. If it is expected that future dividend will grow then growth rate is also added with the above. From the viewpoint of the investor, the cost of equity is the amount that is received as income on investment made in the equity share of the company. In the given case, ANZ Bank is to pay dividend of $0.91, which is expected to grow at 6%. The calculation of cost of equity is given below: Formula Cost of Equity= Dividend/Market Price of share + Growth Rate The market price of the share is taken based on closing price of share on 25/05/16 on Australian Stock Exchange. Calculation showing Cost of Capital Dividend $0.91 growth Rate in % 6% Market Price Per share $25.25 Cost OF Equity 9.60% The cost of equity is 9.60% and the required rate of return from the investment is 9%. As the required rate of return is more than the cost of equity share cost so it is advisable to purchase this shares. References: Bekaert, G., Ehrmann, M., Fratzscher, M. and Mehl, A., 2014. The global crisis and equity market contagion.The Journal of Finance,69(6), pp.2597-2649. Deegan, C., 2013.Financial accounting theory. McGraw-Hill Education Australia. Hou, K., Van Dijk, M.A. and Zhang, Y., 2012. The implied cost of capital: A new approach.Journal of Accounting and Economics,53(3), pp.504-526. Rose, P. and Hudgins, S., 2014. Bank Management Financial Services, 9th. Financial Institution and Markets Question: Discuss about the Financial Institution and Markets. Answer: Introduction The aim of present study is to provide a dynamic introduction to the valuation of the financial option along with the viability of contractual conditions and its requirements. Certain aspects form the core of the report like the difference between naked and covered options. The benefits of both the option are described in the light of having a strong position in the market and anticipation of the market dynamics. Naked and Covered ptions An option is a contract which gives the buyer the right to buy or sell a financial stock depending on the form of the option at a specific strike price on a particular date. The trading options are not only limited to buying or selling these shares. They also involve other strategies. Figure 1: Types of Option Call (Source: (Nardon and Pianca, 2016)) Naked Call Options Writing call options contracts without owning the underlying shares, is known as a naked call option. Here, the writer has the flexibility to set the expiration date and strike price. If the writer gets the buyer for their options, then the buyer get eligible to acquire rights to own the stock before the expiration date at the predetermined strike price. Covered call Options In a covered call strategy, the writer not only writes call options but also owns the actual stock. In case the price of a particular stock rises the writer will be liable to provide the buyer with the physical shares (Jahncke and Kallsen, 2016). The writer can do this by simply providing the option holder with the shares contained in the portfolio of the writer. Figure 2: Graphical Representation of Covered Call Option (Source: Zerenner, Segal and Zerenner, 2014) Difference between Covered Call options and Naked Call Options Basis of Differentiation Naked Call Covered Call POSSESSION OF SHARES The writer does not possess shares in physical. The writer has possession of shares in real. INVESTOR OUTLOOK The writer of such call may get buyers only if the buyer believes that the stocks of a particular company may rise in the future and therefore the buyer may want to lock their shares in a lower price A covered call is perfect for writers who are optimistic and confident about their estimation of companys pricing. AMOUNT OF GAIN The amount of gain is unlimited in such an option as the writer gains from trading in the form of speculation. The writer of such call must possess sufficient shares to have additional income to protect him from the losses. The amount of gain is limited. [(Strike Price - Stock Price) + Credit Received] AMOUNT OF LOSS A Huge amount of losses can also be accrued to the writer in such a call. The purchase price of the new stock is the loss of the writer. With this strategy, the writer can eliminate the risk of buying the stocks at a new and higher price. (Stock Price - Credit Received) BREAK EVEN POINT Strike Price + Purchase Price Stock Price - Credit Received Requirement for Contract Obligations The Query of contract obligations applied by an options exchange in order to ensure that the writer meets their obligations is explained. Any financial option is said to be a contract between two parties. The terms of the contract are mentioned in a term sheet (Israelov and Nielsen, 2014). Option contracts are quite complicated. It is mandatory for the option holder to specify the following in the contract: The rights held by the writer to buy or sell the stocks. The class and quantity of the basic asset(s) possessed. The strike price of the option at which the deal will occur upon exercise. The expiration date of the option. The settlement terms of the transaction. The total amount to be paid by the holder to the writer. Figure 3: Graphical representation of Pay off for writing a short call. (Source: Patel and et.al. 2016) Other requirement applied by option exchange (ASX) According to (Hirsa and Neftci, 2013), it is compulsory for the writer to hold shares till the options contract expires. The writer can also buy back the contract before its expiration. The value of the contract is determined on the basis of the volatility of the stock, the expectation of the future price and expiration of the contract. A minimum level of cover is required for options (margins), which is the value of option contracts at the time of liquidation. When the option no longer exists in the market, all the amount of margin is credited back into the account of the writer (Jarrow and Chatterjea, 2013). The writer has obligations under the option contract to buy shares for delivering them at the contracted price. Cash is considered as the only medium for settlement of the transaction. The value of buy options must offset the value of sell options. Conclusion Owning shares of a public company can increase the number of investing strategies available. Hence, it can be concluded from the report that a variety of call and put options exist for writers from which they can select their option depending upon the level of risk and the profit from them. Contract obligations of the writer are also to be considered so as to minimise the loss a writer sustains. The writers must wisely select from the options of naked and covered so that their income stream remains unaffected from the losses occurring through speculations in the stock market. References Books and Journal Hirsa, A. and Neftci, S.N. 2013.An introduction to the mathematics of financial derivatives. Academic Press. Israelov, R. and Nielsen, L.N. 2014. Covered Call Strategies: One Fact and Eight Myths. Jahncke, G. and Kallsen, J. 2016. Approximate Pricing of Call Options on the Quadratic Variation in Lvy Models. InAdvanced Modelling in Mathematical Finance.(Pp. 241-256). Springer International Publishing. Jarrow, R.A. and Chatterjea, A. 2013.An introduction to derivative securities, financial markets, and risk management. WW Norton Company. Nardon, M. and Pianca, P. 2016. A covered call is writing in a cumulative prospect theory framework. Patel, V. and et.al. 2016. Price discovery in stock and options markets. Zerenner, E.H., Segal, G.A. and Zerenner, G.J. 2014. Power Financial Group, Inc.System and method for analysing and searching financial instrument data. Patent 8,630,937.

Jimmy Hendrix Essays (1107 words) - , Term Papers

Jimmy Hendrix Jimi Hendrix was one of the most influential musicians in music history. Jimi Hendrix was one of the most exciting and creative guitar players ever. He mixed Blues and Rock & Roll together to create some of the most unique music ever played. Jimi had only four years of fame, but unlike others, has become even bigger in the 20 years after his death. Jimi's parents, Al Hendrix and Lucille Jeter got married in Seattle, Washington on March 31, 1942. Soon after Johnny (Jimi) Allen Hendrix was born in Seattle on November 27, 1942. Al and Lucille got divorced in December, 1951, because of Al's drinking problems. Al was granted custody of Jimi and his two brothers, Leon and Joseph. Shortly thereafter, Lucille Hendrix died of tuberculosis. Jimi did not attend her funeral because his father would not allow it and he had no way to get there. Unfortunately financial problems caused the brothers to be separated. Joseph was adopted and Leon was in and out of foster homes. As a young boy, Jimi loved to listen to his fathers Jazz and Classic Blues records. In Jimi's teenage years, he listened to Rock & Roll and R & B songs on the radio. Al quickly encouraged Jimi's love for music by buying him a $5 acoustic guitar. With practice, Jimi was soon playing songs off the radio and playing in local bands. In 1960, Jimi quit high school. After a few problems with the law, he joined the Army. He became a paratrooper, but was discharged after seven months because he broke his ankle. Starting in October of 1962, Jimi went off to pursue his musical career. Jimi was a pick-up guitarist for artists Little Richard, The Isley Brothers and Sam Cooke. In 1966, Hendrix formed a band and elected to sing for the first time. They had a regular spot in Greenwich Village, New York City. One night Chas Chandler, the bass player for the Animals, saw Jimi and his band perform. After the performance, Chandler was overwhelmed, he asked Hendrix if he would go to London with him. That was the turning point of his career. On September 24, 1966, Jimi arrived in London. There he held auditions for a bass player and drummer. After auditions, Jimi chose Noel Redding on bass guitar and Mitch Mitchell on drums. The JIMI HENDRIX EXPERIENCE was formed on October 6, 1966. Three weeks later they recorded their first single, Hey Joe. It was released to the public at the end of the year. By February, Hey Joe was the number 4 song on the singles list. Jimi Hendrix was one of the hottest musicians in Britain. Soon there after, Jimi wrote and recorded Purple Haze and The Wind Cries Mary, both of which were huge hits. Then in May of 1967, Jimi released his first album, Are You Experienced?, which was in second place on the charts the whole summer. Also in May, they started studio recordings of Jimi's next album Axis : Bold As Love. Finally, Jimi debuted in America at the Monterey Pop Festival in California on June 18, 1967. Some consider this Jimi's best live performance. He ran through and played all of their hits before the grand finale, when he torched his guitar before smashing it on stage. Now not only was Jimi popular in Britain, but in America as well. On December 1, 1967, The Jimi Hendrix Experience released their new album, Axis: Bold As Love. In just a few weeks Axis : Bold As Love was in the top twenty and rising. On January 21, 1968, Jimi started recording his first song, All Along The Watchtower ,for his next album, Electric Ladyland. Jimi worked on Electric Ladyland the entire summer of 1968 and completed in on August 27, 1968. The Spring of 1969 was a rough one. Jimi was arrested at Toronto International Airport for possession of heroin and had to pay $10,000 bail. Soon there after, The Jimi Hendrix Experience disbanded. Noel Redding left for England and was replaced by Jimi's old army buddy, Billy Cox. Mitch Mitchell left also, but soon returned when Jimi formed his new band, Band of Gypsies . Jimi and his new band went to the Woodstock Music and Art Fair in August 1969. The apex of this performance was his playing of the Star Spangled Banner. This song was a meaningful, and compelling statement during the height of civil rights and the Vietnam War. Jimi took some time off from planning albums