Abstract This paper describes a project conducted for the purpose of gaining experience in the area of options and futurestrading. The TJX Corporation was chosen for study, and values and indexes of its stock during the period from 2/11/2002 to 5/10/2002 were examined and analyzed. Predictions for future trends are made.
From the Paper "The purpose of this project was to become familiar with options trading. Options offer an excellent opportunity for small funded investors to buy stocks that they normally would not have been able to due to funding, while minimizing their risk at the same time. Options trading reacts much differently in a bear market. For the purposes of this study, all options chosen were in a general uptrend. It may be noted that TJX was in a bull trend during the dates of the study, but immediately after turned into a bear trend. This may effect the accuracy of my future trend predictions, as compared to the actual. All options in this study had an exercise date of June 20, 2002. "
Tags: stocks, SPXDF, hedge, market, profits, index, T-Bill, S & P 500
Abstract This paper discusses labor-management relations in Japan. The author points out the structure of Japanese trade unions. The paper includes a brief comparison between Japanese and British trade unions.
From the Paper "Although relatively stable throughout the ...s and ... s, union membership began to decline in Japan in the ...s and that decline accelerated in the ...s. A debate, regarding the long term viability of the Japanese labor movement, has been underway for a least a decade. Initially, attention focused on the changes in the economic. political and social structure of Japanese, society factors that are outside of the control of any participant in the labor relations system."
Tags: Japanese trade union movement, future of japanes trade union movement, economic competitiveness, lifetime employment, enterprise unions
This paper discusses that the Indian economy has been effected, positively or adversely, by the controversial World Trade Organization's (WTO) Doha declaration of 2001.
Abstract This paper explains that, in India, various reforms, as required by the WTO, were made to remove all barriers in the agricultural sector. The purpose of this move was to strengthen and develop agricultural markets in private and cooperative sectors, to expand futurestrading to cover all agricultural products and to use information technology to provide market-led extension services to farmers. The author points out that India has the ability to cultivate superior knowledge through intensive R&D efforts and the expertise in applying the knowledge to commercially viable technologies in software sector, one of the major success stories. The paper relates that the cost benefits associated with manufacturing in India has positioned India as a preferred destination for manufacturing and sourcing for global markets. It explains that India is becoming a production base and an export hub for diverse goods from agricultural products to automobile components to high-end services.
Table of Contents
Introduction
Agriculture
Strength
Weakness
Opportunity
Threat
Services
Strength
Weakness
Opportunity
Market Access for Non Agricultural Products
Trade Related Aspects and Intellectual Property Rights (TRIPS)
Opportunities
Relation between Trade and Investment
Weakness
Opportunity
Threat
Interaction between Trade and Competition Policy
Weakness
Transparency in Government Procurement
Threat
Trade Facilitation
Textile Trade Strength
Weakness
Opportunity
Threat
Trade and Environment
Electronic Commerce
Trade Debt and Finance
Trade and Transfer of Technology
Strength
Technical Cooperation and Capacity Building
Least Developed Countries
Small Economies and their Special and Differential Treatment
Weakness
Strength
Conclusion
From the Paper "As concluded by the WTO ministerial statement, (2001) WTO stresses the importance to implement and interpret the agreement on trade related aspects of intellectual property rights (TRIPs) in a of public health, by promoting both access to existing medicines and research and development into new medicines. The Agreement on TRIPs, which is part of the WTO Agreement, provides four norms and standards in respect of seven categories of intellectual property rights, including patents. India has laws in the following categories i.e., Copy Rights, Patents, Trade Marks and Industrial Designs. India is required to examine its laws to align them with the Trips Agreement."
Abstract This paper discusses the advent of online trading. The author outlines the pros and cons of trading online versus using traditional brokers. Sections of the paper include a look at specific companies providing online trading services, a history of online trading, and a brief look into the future.
From the Paper "The stock market has been a part of people's lives throughout the twentieth century. Millions of people around the world have money invested in their countries own respective markets. Since the coming of age of online trading, more people have been investing their money in stocks than ever before because of the advantages it offers. Online trading allows people to trade stocks quickly without the help of a broker, letting the investors have more control over their transactions. The competition between companies has helped decrease the cost of making the transactions. In addition to that, ordinary people now have access to information that could only be seen by brokers. Overall, online trading saves time, money and gives power to the investor rather than the broker."
Abstract This paper examines the position of Sears's stocks and find out what S&P 500 has to say about the company's financial position and its futuretrading activities. The firm has been trading a little higher than S&P 500's estimated targets and experts advise against selling the shares.
Abstract This paper describes the effect of slavery on West Africa and the African civilization. The paper explores the general effect of slavery on future African civilizations?
Abstract This essay focuses on the Australian International Trade: The External Policy. It contains researched materials about:
(1) the constraints on Australian exports; (2) future exports growth; (3) the costs associated with imports (fully explained); (4) imports that could be produced in Australia; and (5) the effects of Australian businesses pushing to market their products. This essay also outlines the problems Australia faces in terms of international trade, and the effects it has on the Current Account Deficit (CAD). It also has some well-researched forecasts as to the exports that can and will be increased and the imports that can be reduced.
Abstract This paper discusses how, in the past, mistrust and false pretense in matters of subsidies, hidden tariffs, and environmental issues between countries have caused trade negotiations to be delayed and even fail. According to the paper, in an increasingly globalized marketplace, further use of transparency mechanisms and openness is required in order for future international trade negotiations to fully succeed. This paper demonstrates how, through a critical review of the relevant and peer-reviewed literature, the implementation of a stronger role by organizations such as the UK-backed Extractive Industries Transparency Initiative and Dispute Settlement Bodies will enhance global economic growth, and contribute to the reduction of poverty.
From the Paper "The term, "resource curse," was first coined by Auty (1993) in his essay, "Sustaining Development in Mineral Economies: The Resource Curse Thesis," by which he described a phenomenon in which countries that are naturally endowed with resources, primarily in the developing world, have failed to achieve their full economic potential because of disparate trade policies with developed countries such as the United States. In this regard, Auty reports that, "The conventional view concerning the role of natural resources in economic development has been that the resource endowment is most critical in the early low-income stages of the development process. It assumes that, as development proceeds and a population acquires more and more skills, those skills are deployed with increasing effectiveness to counteract any resource deficiencies" (1993, p. 1). Today, a number of sub-Sahara African nations fall in this category, and Nigeria in particular represents such a country. All of these resource-rich developing countries have inherited a legacy of a colonialist past that has adversely affected their current capacity to compete in the international marketplace while simultaneously attempting to cope with the effects of poor weather conditions, a range of diseases, and a lack of foreign direct investment (Auty, 1993). "
Abstract This paper describes the physical process of the World Trade Center collapse. It examines the building's structure and components and analyzes the impact of the collision with the aircraft. It gives an engineer's analysis of the collapse and several reasons for it. It concludes that the exact reason for the collapse of the skyscraper is still unknown and will continue to be studied in the future.
From the Paper "The World Trade Center, erected as "a living symbol of man's dedication to world peace," (Wetxstein- 2001) was the most valuable commercial property in the history of New York City until terrorist attacks reduced it to rubble. The buildings towered over lower Manhattan for nearly thirty years; an icon of financial power.The buildings contained more than 200,000 tons of steel, 425,000 cubic yards of concrete and 600,000 square feet of glass in 43,000 windows. Each floor, a reinforced concrete pad on a metal deck supported by steel cross beams, was about one acre and weighed about 4.8 million pounds. The building was designed to withstand the impact of a 707 commercial airliner. It was the largest commercial airliner built at the time the World Trade Center was designed. This was a factor considered due to the accident in 1945, where a B-25 crashed into the Empire State building."
Tags: New, York, World, Trade, Center, steel, buildings, terrorists, commercial
Abstract This six-page undergraduate paper focuses on Ebay's decision to sue IBM's Web sphere software for futuretrading, the paper analyzes how this decision will the company reduce costs and increase productivity and how the law of diminishing marginal productivity sets in when business techniques are not changed for a long time.
Abstract This paper discusses the impact on international trade that the Internet is making. Specific sources of these impacts are discussed in the paper.
Outline
Introduction
Issues
Regions
Technology
Regulation
Future Implications
Bibliography
From the Paper "As we move into the twenty-first century, we are faced with an ever-shrinking world. One in which borders are diminishing, and cultures are merging. The economies are now moving together within regions to form larger, more efficient, powerful centers for monetary and economic exchange. What once used to be a very segregated globe is now separated into an almost continental based economy. Each region has its specific power centers in which the economic activity revolves. There has been an even greater push in these economies to develop more efficient means of communicating to make transactions easier. This is where the Internet has aided this movement."
A theoretical analysis of recent developments on accounting standards for stock options and a practical application to Cisco Systems, Inc. as an illustration.
Abstract This paper analyzes developments in the accounting field for stock options regulating standards. The writer shows how the accounting technique caused huge controversy among regulators and academics with respect to the treatment of stock options in the financial statements because the primary objective of decision usefulness of financial reporting as well as net income depends on whether or not the company recognises stock options as expenses on a fair value based method in the income statements. It argues that although the recent developments of the accounting standards proceed in the right direction, there are still issues that must be addressed. It shows that in order to solve the remaining issues, it is necessary to improve the qualitative aspects of financial information, such as relevance, reliability and comparability which directly relate to the primary objective of financial reporting.
1 Introduction
2 Historical Developments on Accounting for Stock Options 2.1 APB 25: Intrinsic Value
2.2 SFAS 123: Introduction of Fair Value Based Method
2.3 SFAS 148: More Timely and More Prominent Disclosure
3 Theoretical Analysis
3.1 Fundamentals of Financial Reporting
3.1.1 Objective of Financial Reporting
3.1.2 Qualitative Characteristics of Accounting Information
3.2 Recognition of Expense
3.2.1 What Is an Expense?
3.2.2 Assets under SFAC 6
3.2.3 Liabilities under SFAC
3.2.4 Assets under Exit Value Accounting
3.2.5 Liabilities under Exit Value Accounting
3.2.6 Comparison of the Recognitions
3.3 Measurement
3.3.1 Fair Value Method
3.3.2 Intrinsic Value Method
3.4 Summary of Theoretical Analysis
4 Practical Analysis - Cisco Systems, Inc.
4.1 About Cisco Systems, Inc.
4.2 Applications to the Accounting Standards
4.3 Pro Forma Disclosure in the Profit and Loss Statement
4.4 Market Share Price and Employees Stock Option Incentives
4.5 A Need for Change
5 Conclusion
6 Bibliography
Appendix
From the Paper "High-tech companies such as Cisco Systems have developed as major global business players during the last decade. One of the devices that many of these companies often applied in the process of their economic growth was a stock-based compensation plan. Such small venture businesses, which were normally deficient in cash in their initial stages, provided employees with the right to purchase their own stocks instead of cash. As a result, stock options could enormously reduce the amount of cash and wage expenses at the same time. Further, entrepreneurs could effectively retain talented staffs by granting them stock options, and could elevate motivation among the employees. However, the series of frauds and corporate crisis over the past year raised the question of accounting treatment for stock options whether the present standards achieve the principal objective of decision usefulness of financial reporting."
Abstract This paper discusses employee stock option programs and FASB (Financial Accounting Standards Board) accounting requirements The paper includes recent changes that now treat options as expenses. It mentions the use of stock options as a reward for employees and executives.
From the Paper "For many years stock options provided companies with a key tool used to reward employees and executives. Beginning in the stock options became an increasingly popular way for companies to tie corporate performance ..."
Abstract This paper explains that increased trade between countries does create wealth; however, the rules of the trade game are such that the wealth being generated by increased level of international trade does not reach all sections of the world in a fair manner. The author argues that there is an urgent need for creating a level-playing field for all in international trade so that the benefits reach everyone; organizations such as the WTO and the IMF, which make and oversee trade rules and international monetary policies, must be purged of the pervasive influence of large multi-national corporations and big business. The paper relates that unprecedented development in the communication and information technologies in the last few decades and the eclipse of communism have given a great boost to international trade; international trade leads to prosperity and development but such trade also gives rise to a number of problems such as increasing inequality and rural poverty.
Table of Contents
The Pros and Cons of International Trade Reasons Why Increased International Trade is Beneficial
Growing International Trade Pros: Benefits of Increased International Trade Growth in Countries that Adopted Free-Trade Policies
Example of the United States
Cons: The Disadvantages
Policies Based on Corporate Interests
Removing the Guiding Hand
How International Free Trade Policies Favor Big Corporations
Corporations Exempt from Free Market Discipline
Inequality
Rural Poverty
Trade and Environment
Analysis of the Arguments
What Should Be Done?
Conclusion
From the Paper "The colonialist powers, particularly Britain, had realized the benefits of international trade after its industrial revolution although it is highly debatable whether such trade was beneficial for the colonies as well. In the last two decades, international monetary institutions such as IMF and trade organizations, particularly the Word Trade Organization (WTO) have been at the forefront for promoting free international trade. Unrestricted international trade has been touted as the panacea for all economic ills and an agent of development. The results of international trade have, however, been mixed. While supporters of free trade point to several success stories such as China, others point to the growing inequality, economic shocks such as the Asian Economic Crisis of 1997, and the increasing poverty in Sub-Saharan Africa as "fruits" of increased international trade (also known as globalization)."
Abstract This paper looks at stock options and compensation packages and some of the problems raised as well as comments from those supporting this approach, noting the recent rule changes that will also change how employees are compensated with stock options, an addition to base pay and only one of the other means of pay that are used to motivate, recruit and reward.
From the Paper "Compensation packages are a means by which companies can achieve several different goals related to recruitment, retention, and motivation, among other things. Such packages are constituted in a variety of different ways, and one issue that has been raised is what role stock options should have and how effective they are in the compensation package. The question is also asked as to whether they serve the needs of the company and the employee alike or favor one over the other. In terms of the general issue, of compensation, Molvig (2005) states, Executive compensation never involves just one element. Boards must look at every piece of the package to determine if it furthers the goals of the CU and the executive (para. 1). Compensation is not the only element in recruitment and retention, however, and surveys show that while important, compensation is not necessarily the most important factor. "
