In many parts of the world, where medicines are not readily available
or affordable, the public continue to rely on medicines used traditionally
in their cultures. At the same time, affluent consumers in the industrialized
world are spending their own money on healthcare approaches
that fall outside what has been considered mainstream medicine. A growing
body of national and international studies highlight the reality that
there is exponential growth of global interest in and use of traditional (i.e.
indigenous), complementary and alternative medicine (TCAM).
Some 20 years ago, after years of teaching corporate finance and writing
related textbooks and casebooks, I began teaching healthcare financial
management in the University of Florida’s Master of Health Administration
(MHA) program. The move prompted me to write my first healthcare
finance textbook, Understanding Health Care Financial Management. The
book was designed for use in health services administration financial management
courses in which students had prerequisite courses in both accounting
and corporate finance.
In this chapter we introduce the main, and first, concepts that one has to grasp in order to
build, evaluate, purchase and sell financial structured products. Structured finance denotes
the art (and science) of designing financial products to satisfy the different needs of investors
and borrowers as closely as possible. In this sense, it represents a specific technique and
operation of the financial intermediation business. In fact, the traditional banking activity,
Solve Two of the Toughest Problems When
Preparing for the Stockbroker’s Exam
Those wishing to become licensed as stockbrokers must
pass the series 7 examination. This exam, known officially
as the General Securities Registered Representative
Examination, is very rigorous. Traditionally, students
without a financial background have a difficult time with
the mathematical calculations peculiar to the world of
stocks, bonds, and options. Many are also relatively unfa-
miliar with proper use of the calculator and thus are dou-
bly hampered in their efforts to become registered.
There is a fundamental law of attraction in the
universe that guides people’s lives and is the
underlying power behind all things. This law was expressed
by Napoleon Hill when he said, “We become what we think
about.” This profound truth has been stated in many different
languages and cultures throughout history. In the second
century of the Common Era, the Roman emperor and Stoic
philosopher Marcus Aurelius said “Our life is what our
thoughts make it.” This idea has been developed over time
and has now become a central tenet in many spiritual traditions....
Traditional Supply Chain Management (SCM) aims at movement of goods and services from one end of
this chain to the other through different stages so as to improve the efficiency, productivity and profitability
of the entire process. As SCM spans across the economic functions of the entire value chain of
a product or service, it is vital for a company to join in, form, or coordinate its business related supply
chains, forming various kinds of business relationships.
This book describes an innovative investment strategy called “Relative Value Discipline,” which provides a framework for investing in traditional dividend-paying value stocks, as well as undervalued growth stocks. The graphic below illustrates how the stock selection process works step by step to winnow a thousand large cap stocks down to a focused portfolio of twenty to thirty holdings.
This book is a multidisciplinary volume, comprising of four parts. After
a short introduction by the editors, outlining the theme of the book,
Santarelli, a skilful scholar of legal history, deals with the common origin
of Islamic and Western traditions in commercial and banking transactions,
in a period in which Italian merchants and their organizations had been at
the forefront of the post- medieval renaissance in trade and law (Part I).
In Part II Gian Maria Piccinelli, Frank Vogel, Muhammad Fahim
Khan and the young Valentino Cattelan present the main features of
In a world of geo-political, social and economic uncertainty, strategic financial management is in a process of change, which requires a reassessment of the fundamental assumptions that cut across the traditional boundaries of the subject. Read on and you will not only appreciate the major components of contemporary finance but also find the subject much more accessible for future reference.
The number one concern of start-up entrepreneurs and growing small business
owners and managers is how to finance their venture. When the personal
financial resources of the entrepreneur are exhausted, when the
tradition of going to family and friends for “cradle equity” has been thoroughly
“worked,” and when incurring personal debt from a bank for a loan
is no longer a viable option, then raising private capital can be one of the
toughest challenges for many entrepreneurs.
In March 1997 the Bank started conducting daily money market operations in gilt repo. Since this
date we have used GC repo data to estimate the short end of the nominal yield curve, and so the
short end of the nominal curve is provided down to very short maturities after this date. No
corresponding instrument is available to help model the short end of the real yield curve.
The source of project ideas may come from a variety
of sources, most importantly from prospective
implementing partners (either partner governments,
non-state actors or multi-lateral or regional
development agencies). Local ownership of, and
commitment to, potential projects is a key quality
Furthermore, project ideas should be drawn from the
priorities and targets identified in the relevant
Country Strategy Paper and National Indicative
The WSBI understands by microcredits small size uncollateralized or weakly collateralised loans pro-
vided to vulnerable people for economic and social empowerment through income and employment
. Historically, savings banks did not succeed to introduce microcredit as a business line
because they were in most cases statutorily prevented from lending. And where they could lend,
savings banks have traditionally developed retail banking activities for low wage earners. For this
reason, savings banks are consistently invisible in microfinance publications.
The high ownership concentration can also serve
as a credible commitment that the controlling owner is willing to build a reputation for
not expropriating minority shareholders (Gomes, 2000). The commitment is credible
because minority shareholders know that if the controlling owner unexpectedly extracts
high levels of private benefits when he/she still holds a substantial amount of shares, they
will discount the stock price accordingly, and the majority owner’s share value will be
From the viewpoint of business policy, the reform
law of 1999 eliminated the last hurdle which had
hitherto prevented the savings banks from con-
ducting business with companies listed on the
stock exchange. Regional savings banks can now
carry on all banking business stipulated in the law
on currency and finance8, with anyone, without
The 2007 global financial crisis ignited by reckless bankers and their flawed reward structures will be felt for years to come.
Emerging from the wreckage, however, is renewed support for the over-arching objective of traditional finance theory,
namely the long-run maximisation of shareholder wealth using the current market value of ordinary shares (common
stock) as a benchmark.
Ernie Paustian brings to Esquire Management Group over twelve years of experience in
the field of Property Management. Ernie now carries the real estate Associate Broker
license issued by the Real Estate Council of Alberta. Clients can benefit from thorough
analysis of the physical operations, marketing, financing and life cycle re-capitalization
needs of a property.
Clean renewable energy bonds (CREBs) present a low-cost opportunity for public entities to issue bonds to finance renewable energy projects. The federal government lowers the cost of debt by providing a tax credit to the bondholders in lieu of interest payments from the issuer. Because CREBs are theoretically interest free, they may be more attractive than traditional tax-exempt municipal bonds.
In February 2009, Congress appropriated a total of $2.4 billion for the “New CREBs” program.
Change is a common feature of the IT world. It is
important that effective control procedures are in
place to ensure that only authorised changes are
made to IT systems. Not only is there scope for the
accidental or deliberate inclusion of unauthorised
code (the so called Trojan horse or time bomb) but
change involves a degree of risk and it is necessary
to ensure, for example, that the right version of
software is actually implemented.
Gamma uses traditional relational techniques for query parsing, optimization [SELI79, JARK84], and code
generation. The optimization process is somewhat simpliﬁed as Gamma only employs hash-based algorithms for
joins and other complex operations. Queries are compiled into a left-deep tree of operators. At execution time,
each operator is executed by one or more operator processes at each participating site.