Abstract This paper discusses the different ways in which men and women view money, each other's income, and how it relates to their contribution to the marriage and their own self-worth. It uses several statistics and studies to show how men and women are socialized about money, what their views on it really are, and how these ideas about money and gender roles are changing in modern relationships. The paper offers practical advice on what money issues couples should discuss before getting married.
From the Paper "Money is tied to deep-seated emotions, often reaching back into our past. It is a symbol of personal value, power, authority, self-worth, and independence. Most people spend a great deal of their time chasing after it, working for it, and worrying about it. Money has the potential to immensely increase one's quality of life, and yet it is frequently one of the sorest points in relationships, whether it is parent/child, friend/friend, or, in this case, husband and wife. Adding to the frustrations is that men and women often have different ideas on what money means and therefore misunderstand each others money behaviors. This is an increasingly important issue in modern relationships when more and more households are dual-income. Studies show that before the wedding, couples are more likely to openly discuss their feelings about sex than money, but that in the marriage, money is usually the number one argument (Allen, 2003; The Money Side of Marriage, 1985). In most social situations, money is still a taboo topic (Men, Women, and Money, 1999)."
Abstract This paper explains that gambling has always been part of the United States; even in the original colonies, lotteries were used to raise money, so that playing lotteries even became a civic responsibility. The author points out nine ways to managemoney while gambling in a casino, such as using a progressive method of betting by setting a predetermined percentage increase for each winning bet and sticking stick to that. The paper relates that, in the past, casinos gave away rooms and served foods to attract new guests, especially the high rollers; today, non-gaming areas, including rooms, food, shows, retail space, and other aspects or features of their property, are increasingly a focus of potential profit opportunities.
From the Paper "Casino businesses know that they must put their guests first, otherwise, these businesses are behind and fumbling. They need not only to catch up with the trend but to make giant leaps in order to remain in competition. The lesson to learn is that the casino is in business for the loyalty of each guest; therefore, that guest is at the center of it. If the guest can be made to feel like a royalty, he or she will remember it when he or she leaves, and then come back.
Abstract This paper describes the qualities necessary to be an effective project manager. In particular, the paper emphasizes the "dreaded triple constraints" of time, money (resources) and quality, and a project manager's juggling act. The paper gives a bulleted list of the five areas of expertise a project manager must possess. The author concludes by stating that the project manager should adhere to the precept that he must always strive to be a good leader and manager.
From the Paper "The Project Management Institute or PMI (www.pmi.org) is considered the de facto pioneer in the field of project management and they have a publication entitled "A Guide to the Project Management Book of Knowledge (PMBOK)", which is now on its third edition. Any person aspiring to take up a career as a project manager or any person for that matter handling project management tasks should look at the PMI and the PMBOK first to get a good start and have a solid foundation in the project management career or job track. This is a good initial premise because for one, the principles evangelized by the PMI are in line with the standards set by the International Organisation for Standardization (ISO) and therefore are considered generally recognized and accepted global standards and industry best practices. Second, the PMBOK is also an accepted standard by the American National Standards Institute. Having stated the points on ISO and ANSI recognitions, one can never go wrong by starting with the PMI and the PMBOK."
Tags: project, management, Project, Management, Institute, PMI, leadership
Abstract This paper explains that the goal of its thesis is to conceive a model to manage the global interest rate risk of the commercial portfolio in order to determine the optimal structure of the new production and to test the tool on the Credit Foncier de Monaco, private banking and subsidiary of Calyon, which is obviously the investment banking of Credit Agricole. The paper's thesis is divided into two main sections: the theoretical modeling and the empirical application.
Table of Contents:
Abstract
Abbreviations
Introduction
Theoretical Modeling
Identification
Interest Rate
Nominal vs. Real Rate
Fixed vs. Variable Interest Rate
Short-Term vs Long-Term Rates
Spot vs. Forward Rates
Term Structure of Interests
Theories
Methods
Deterministic and Stochastic Models
Sources of Interest Rate Risk
Repricing or Maturity Mismatch Risk
Basis or Bid-Ask Spread Risk
Yield Curve Risk
Options Risk
Interest Rate Exposure
Net and Gross Positions
Balance-Sheet & Gap
Profit and Loss Statement and Spread
Factors
Measurement
Volume
Instantaneous Gaps
Generalized Gaps
Indexed Gaps
Simulated Gaps
Value
Duration
Convexity
Market
Margin
Sensitivity
Modified Duration and Relative Convexity
Money Markets Rates
Management Hedging And Speculation
Micro or Macro Hedging
Systematic or Selective Hedging
Partial and Total Speculation
Hedging Risk and Opportunity Cost
Passive and Active Hedging
Passive Hedging or Beta Management Active Hedging or Alpha Management Instruments
Spot
Forward And Future
Fra And Swaps
Options
Modeling
Utility
Structure
Utility Function
Constraints
Regulation
Commercial
Model
Objective Function
Efficient Portfolio
Optimal Portfolio
Empirical Application
Presentation
Cfm
Treasury
Asset-Liability Management (Alm) Committee
Adaptation
Structure
Constraints
Rates
Simulation
Leverage
Regulatory Constraints
Variance-Covariance Matrix
Utility
Variances
Conclusion
Glossary
Appendix: Balance-Sheet + Profit & Loss Statement
Appendix: Balance-Sheets by Currency, Maturity and Interest Rate
Appendix: Gaps
Appendix: Correlation and Variance-Covariance Matrix
Appendix: Weightings and Balance-Sheets in March 2008
Appendix: Coefficients of Variation
Appendix: Objective Function for Different Aversions to Risk
From the Paper "Taking into account the stock and constraints, the model determines the optimal allocation of the production for different scenarios of rates level, rates volatility and risk aversion degrees. The bank hedges against the interest rate risk by optimally adjusting its production.
"The optimal portfolio is the tangent point between the efficient frontier and the indifferent curve. It is obtained by equalizing the marginal rate of transformation (MRT) to the risk to return, which is the slope of the efficient frontier, and the marginal rate of substitution (MRS) to the risk to return, which is the slope of the objective function."
Tags: tool transformation, tangent point, risk premium, asset management
Abstract This paper explains that, inevitably, bridges deteriorate over time at different rates: Timely maintenance activities, which are well-planned and carried out with minimal disruption to road users can present substantial savings in terms of both time and money for both bridge owners and road users. The author ponts out that, to tackle the complicated issues regarding bridge management, research activities in the UK as well as other countries in continental Europe concentrate largely on the bridge management process, with attention given to improving the use of limited finances to maximize the returns from the maintenance and repair of the bridge stock as well as reduce additional costs due to traffic delays and lane closures for these activities. The paper includes a critical review of other BMSs used worldwide, development of models to predict bridge condition over time, analysis of the various road user costs and using different optimizing techniques to best allocate finances and optimize bridge performance. 39 tables. 40 figures.
Table of Contents
Introduction
Objective
Bridge Conditions in the U.K.
Introduction
Maintenance and Upgrading
Expenditure
Department of Transport (DoT) Programme
What is a Bridge Management System (BMS)?
Introduction
Department of Transport Structure
Maintenance Agents
BMS in the U.K. and Other Countries
Introduction
Bridge Condition
Other Information in BMS's
Condition Prediction
Cost Models
Decision for Maintenance and Repair
Prioritization
BMS in the U.S.A.
BRIDGIT System
PONTIS System
SMIS System
Inventory
Inspection and Assessment
National Structures Programmes (NSPs)
Prioritization
Project Creation
Whole Life Assessment and Costing
Activities Schedule
Data Accuracy
Design Specifications
Access
Integration with External Systems
Bridge Inspection and Assessment
Bridge Inspection Types
Defects
Bridge Scoring
Introduction
Definitions
Bridge Condition Score (BCS)
Bridge Condition Index (BCI)
Bridge Stock Condition Index (BSCI)
Multi Span Bridges
Bridge Scoring Example
Interpreting BCS's
BCS Results
Histograms for Bridge Stock
Interpreting BCI's
BCI Results
Interpreting BSCI's
Predicting Bridge Condition with Time
Introduction
Markov Chain Approach
Example Calculation
Bridge Condition Example
Bridge Condition Results
Bridge Aggregation Example
Bridge Aggregation Results
Bridge Stock Example
Bridge Stock Results
Traffic Costs
Introduction
Traffic Count Example
Traffic Count Results
Traffic Delay Cost Examples
Delay Costs Results (1st Example)
Delay Costs Results (2nd Example)
Accident Cost Example
Accident Costs Results
Environmental Impact
Introduction
Emissions Example
Emissions Results
Decision-Making and Prioritization
Decision-making
Introduction
Prioritization
Introduction
Dynamic Programming
Budget Allocation Approach
Budget Allocation Results (1st Example)
Budget Allocation Results( 2nd Example)
Budget Allocation Results ( 3rd Example)
Improvements to Budget Allocation Approach
Introduction to BCI optimization approach
Service Potential (BCI) Examples
BCI Optimization Results (1st Example)
BCI Optimization Results (2nd Example)
BCI Optimization Results (3rd Example)
Maintenance Costs Examples
BCI Optimization Results (4th Example)
BCI Optimization Results (5th Example)
BCI Optimization Results (6th Example)
Conclusion
Future Research
From the Paper "It is proposed that the transition probabilities to be used are the Bridge Condition Index (BCI), which operates on a linear scale of 0 (worst) to 100 (best). The degree of severity of bridges is linearly distributed over this range (i.e. BCI of 50 to 51 is the same as 90 to 91), except that costs are expected not to have a linear distribution. This is a useful approach as the BCI (average) is interpreted as 'service potential' and is used as a performance indicator.
Using the example for multi span bridges earlier on, the transition probabilities for a three-state Markov chain model with limiting stage value of 3 is proposed. The probabilities are in accordance to the BCI values for the 'good' bridge arranged in order of descending magnitude (i.e. P(1) = 0.9845 and P(2) = 0.9246). For the purposes of comparison, the other two bridges ('medium' and 'bad') are also modelled and the three are plotted together."
Abstract This paper discusses whether it is worth expending the time and money to build strategies for dealing with unforeseen risk into a management plan and how risk mitigation can be incorporated into the project planning process. It looks at how formal risk monitoring can save a project when end users fail to engage.
Abstract This paper presents a proposal for identifying management styles and organizational structures and strategies in the UK. The paper points out that both organizational styles and management principles have undergone substantial changes in the past century and that the key components that result in the success or failure of an organization are the organizational goals and objectives. The paper also points out that leadership accounts for the greatest variance in the organizational structure and that no matter what the organizational structure, a leader with clearly defined goals and objectives will always be able to motivate his employees to perform at their best.
From the Paper "Organizational structure is an entity made up of elements or parts (such as people, resources, aspirations, market trends, levels of competence, reward systems and departmental mandates) that impact each other by the relationships they form. A structural relationship is one in which the various parts act upon each other, and consequently generate particular types of behavior. (Fritz, 1996) All organizations, no matter how big or small, require some form of structure or a formal arrangement of relationships and work-duties in order to survive and grow."
Abstract The paper explains the process of money laundering and focuses on the drug trafficking and illegal gambling industries. The paper then explores the relationship between illegal drug trade and gambling and shows how casinos have been used as ways for drug traffickers to launder money. The paper points out the limitations in prosecutors' ability to prove one is engaged in money laundering as well as the Internet and technology that make it increasingly difficult to regulate financial transactions. The paper concludes that despite these limitations, the focus on money laundering remains one of the most effective ways to curtail both the drug trade and illegal gambling.
Outline:
What is money laundering?
Drug Money Laundering
Money Laundering: Illegal Gambling
Relationship between Illegal Drugs and Gambling
Changes in the Law
From the Paper "The usual process of laundering drug money entails three basic steps. The first stage involves depositing the drug proceeds into clandestine domestic and foreign financial institutions that do not seem obviously illegal. Sometimes the profits are broken up into small amounts, usually less than $10,000 to avoid currency reporting requirements or through creating sham companies, casinos, wire transfer companies, or simply smuggling the currency out of the United States in suitcases or concealing the cash in some other manner (Zagaris & Ehlers 2003). In the case of a pseudoephedrine smuggling ring an airline employee was recruited at O'Hare airport in Chicago to help smuggle drug-derived cash outside of the United States, sometimes stuffing the bills in empty cereal boxes that were packed in a suitcase ("Cash Smuggling Case at O'Hare Airport," U.S. Drug Administration Press Release, 2004)."
Abstract The author of this paper reviews the book by Gary North, "Honest Money" which deals with the relationship between money and the Bible. The paper's author examines the book's central idea that the value of money lies in its marketability. In other words, if money is unable to buy you goods and services, it is worthless. The author of the paper continues and discusses the idea proposed in the book that individuals must make and use money according to biblical guidelines in order to call their money honest and pure.
From the Paper "Honest Money follows the theme of making and using money according to biblical guidelines in order to call your money honest and pure. The bible doesn't restrict anyone with regards to the form of money they use. There are restrictions on how money should be used. But there are no limitations on what constitutes money. For example anything can be used as money: silver money, gold money, platinum money, salt, wampum, but the most important thing is that the buyer and seller should be aware of the mode of exchange and should also agree to it. This is a very critical part. If the buyer or the seller is unaware, that would be considered unethical and dishonest and thus both parties must be made aware."
Abstract The paper discusses the seriousness of money laundering. It confirms that global based financial markets make money laundering easy for financiers, and countries that enact account secrecy laws, are connected to countries with account reporting mandates, making it possible for a person to deposit "dirty" money anonymously in one country and have it transferred to another country. The paper, reports that money laundering is a commonly committed crime that wreaks havoc on the financial stability of a nation.
From the Paper "The International Monetary Fund states that money laundering, which drug traffickers use to bring proceeds gained through distribution or sale of controlled substances back into legitimate markets, or to hide support of terrorist organizations, amounts to between 2% and 5% of the world's Gross Domestic Product, (over $600 billion annually). Money laundering hides the true basis of funds gained through selling and distributing drugs and converts them into solid assets with apparently legitimate sources. However, laundering large amounts of small-denomination bills is conspicuous enough that it makes traffickers visible and liable to laws against such practices. "Tracking and intercepting this illegal flow of drug money is an important tool used to identify and dismantle international drug trafficking organizations."
Abstract The paper examines the philosophy of money in human civilization. The paper discusses how it is evident that money has changed over time as societies have become more sophisticated and complex. The paper relates that ever since the emergence of ancient cities and empires, it has always served as a means of measuring the value of work, possessions or services. The paper explains that it still serves that purpose today, even though it is now defined and understood in many different ways because of the nature of capitalism. The paper discusses that in the earliest societies, money did not exist since a simple barter system was used in which people traded something they had a surplus of, for something they needed.
This paper discusses the matter of E-money, looking at the article titled "The Global Economy: Financial, Monetary, Trade and Knowledge Asymmetries" by Bernd Kempa.
1,125 words (approx. 4.5 pages), 5 sources, 2005, $ 44.95
Abstract This paper discusses Bernd Kempa's article titled "The Global Economy: Financial, Monetary, Trade and Knowledge Asymmetries". The writer studies questions over what regulation should apply to e-money systems, particularly of small-scale transaction services). Various e-money application systems are examined in this article, including both card-based and network-based systems, Mondex and Geldkarte.
From the Paper "The purpose of this paper is to discuss and analyze Bern Kempa's essay on "The Global Economy: financial, Monetary, Trade and Knowledge Asymmetries". Kempa's thesis is based on the assumption that the emergence of electronic money will impact destabilize money markets and weaken monetary policies. He suggests that e-money poses as a potential threat to central bank money and to the existence of money itself. Kempa discusses how e-money first came about, as a result from advancement in cryptography and smart card technology."
Abstract This paper discusses whether money is an effective motivator at work. It presents theories that may or may not support our common knowledge of money being an effective motivator, but they all have one thing in common - that their premises are based on observations of outward behavior and reports made by individuals who participated in the studies.
From the Paper "Our long-standing belief is that money is what keeps our farmers cash-cropping, our nurses flocking abroad, our athletes training for competition, our writers pleasing their editors, and our telemarketing agents on the job at three in the morning. But is it really cold, hard cash that makes the world go round? Is it the only thing that keeps us up and about and motivated to do a good job?"
Tags: labor, money, motivator, psychology, theory, work
Abstract A paper that looks into the question of 'How money market fund disintermediated the commercial bank and thrift in the late 1970s. It uses three references.
Abstract This document discusses the time value of money (TVM) concept which is a foundational concept in all financial disciplines. It further discusses the impact that TVM has on annuities and how they are valued through the rule of 72 which is also used to figure most other types of interest bearing accounts to determine rates of return. Finally, the paper examines the concept of opportunity cost because understanding the cost associated with not doing something in lieu of doing something else is important in determining which strategy to adopt.
From the Paper "The time value of money (TVM) is a foundational concept in finance. TVM impacts all forms of finance from business, to consumer, as well as government (Murphy, 2000). TVM is integrally related to interest and concepts related to interest. TVM is also referred to periodically as the discounted present value (DPV) and was first discussed as far back as the 12th century (Murphy, 2000). TVM relies on the concept that a preference for some sort of immediate returns on a given sum of money rather than merely receiving the same amount of money at some point in the future. TVM essentially states that a deposit of $1,000 accumulates an amount of interest resulting in an increase in a given period of time. "
