Financial Returns in Shares - Free Essay Example

Sample details Pages: 3 Words: 1025 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Here are the descriptive statistics for the following four shares: Allied Domecq Aviva Barclays BOC Group Allied Don’t waste time! Our writers will create an original "Financial Returns in Shares" essay for you Create order Aviva Barclays BOC Mean 0.034927 0.019586 0.053065 0.041042 Standard error 0.016635 0.018953 0.01532 0.017607 Median 0.022258 0.014174 0.054806 0.034762 Mode #N/A #N/A #N/A #N/A Standard Deviation 0.083174 0.094767 0.076599 0.088034 Sample Variance 0.006918 0.008981 0.005867 0.00775 Range 0.323539 0.440406 0.315845 0.367016 Minimum -0.09075 -0.24905 -0.10914 -0.12904 Maximum 0.232789 0.191359 0.206701 0.237978 Sum 0.873169 0.489661 1.326634 1.026045 Count 25 25 25 25 From the above statistics I can draw the following comments. Looking at the mean I can see that returns from Aviva are the lowest. The highest average returns are from Barclays. However, all average returns seem to be at a similar level. Looking at the median supports this observation. The median shows Aviva having the lowest returns and Barclays having the highest. There is no data for the mode, but all this means is that no return is the same as another. Looking at the standard deviation and range I can see that returns from Aviva seem to be the most variable as Aviva has the biggest deviation and the biggest range. Barclays seems to have the least variable returns, as the standard deviation and the range for this share are the lowest of the four. In conclusion, I can say that Barclays has the best returns and Aviva has the lowest returns. Looking at this histogram I can say that it appears to be symmetrically distributed. The average return seems to be in the middle and returns lower at either end. This chart looks to be roughly symmetrical. The only difference to the chart above id the fact that the middle value is low. Also, there is one value well away from the other values. This chart again seems to be symmetrical. However, there are 3 values with the same frequency. This makes the chart more positively skewed than the others. This chart is again pretty much symmetrically distributed. In this chart there are more values than the other charts. This could mean that this share has greater range. Looking at all the charts I can say that the common return is between 0.5 and 0.1. This seems to be the average for all shares. Correlation: Allied Aviva Barclays BOC Allied 1 Aviva 0.234587 1 Barclays 0.222791 0.343281 1 BOC 0.203977 0.038567 0.258946 1 Looking at the above correlation table I can say that all the shares have positive correlation with each other, however, the correlation is low. The highest correlation seems to be with Aviva and BOC. The lowest correlation is between Allied and BOC. There would appear to be very little correlation between these shares. This is probably because of the fact that each company is in a different industry. The following table shows the statistics for the Jarque-Bera test: Allied 22.8406 Aviva 8.227033 Barclays 16.18868 BOC 8.631524 The test statistic I am using is at the 99% confidence level and is 10.6. Thus, the null hypothesis that the distribution is normally distributed will be rejected if the Jarque-Bera statistic is higher than 10.6. From the above table I can see that Aviva and BOC are normally distributed and Barclays and Allied are not. In terms of market efficiency this has great levels of implication. Models of market efficiency such as EMH state that returns are based on a normal distribution. If the Jarque-Bera statistic is stating that returns are not normally distributed then EMH models can not be accurately used to estimate the future returns of such share prices. However, if share prices that are not normally distributed can be predicted with a high degree of accuracy then this could mean that markets are not as efficient as first thought. It could also imply that the models and theories used to estimate market efficiency are not as accurate and reliable as always thought. It could mean that new models and theories have to be thought up. I have looked at the relationship between the FTSE all share and Allied. I decided that Allied is the dependant variable and the FTSE all share is the independent variable. This is because the returns of Allied will be dependant upon the movement of the FTSE all share coupled with the beta of Allied. The beta of a company is a figure that determines how risky it is compared to the market in which it operates. A high beta will mean that the company follows the market closely and a low beta means the company follows the market only very slightly. A positive beat means that the company positively follows the movement of the market and a negative beta means that the company will move in the opposite direction of the market. The beta of a company can be worked out by performing a regression model with the returns of the stock as the dependant variable and the returns of the market as the independent variable. The following market model is generated: Return Allied = 0.013297 + 0.557 return FTSE all share The model states that Allied has a beta of 0.557. This means that it is positively correlated with the FTSE all share. When the FTSE all share goes up Allied will also go up at about 55.7% of the movement of the FTSE all share. However, if the FTSE all share moves down, Allied will also fall, but only at 55.7% of the overall fall of the FTSE all share. To work out the values needed for the following chart I used the returns of FTSE all share and placed them into the market model equation in part 3 to generate the returns for the market model. I then plotted the returns from the FTSE 100 in the same chart and generated the following graph: Looking at the above chart I can see that the returns from the market model closely follow the FTSE 100. In fact a movement of approximately a half by the market model mirrors each movement of the FTSE 100 line. This can be explained by the fact that the market model has a beta of 0.557. This means any movement in the FTSE 100 will mean the market model moving in the same direction, but only at 55.7% of the FTSE 100. The movements of the market model will probably not be exactly 55.7% as this model was generated using the FTSE all share. The movements in the FTSE all share will be slightly different to the FTSE 100, which will distort the effects of the above chart slightly.

A Research Study On School Track And Field Coach - 883 Words

Deborah’s Brandt article, Sponsors of literacy, defines a sponsor of literacy to be â€Å"any agents, local or distant, concrete or abstract, who enable, support, teach, model as well as recruit, regulate, suppress, or withhold literacy- and gain an advantage by it in some way,†(Brandt 407) . Brandt is an English professor at the University of Wisconsin- Madison. My literacy sponsor would have to be my high school track and field coach. On October 2011 my parents sent me here to the states to further my education. Coming from Johannesburg, South Africa, where things were almost completely different. From the food, scenery, to the lifestyle, everything was completely different. I didn’t take any English classes, and we didn’t speak English at home, so I had no idea what people were saying or how to communicate. I was welcomed into the country by my coach (David Castel), who was the one I would be staying with for the duration of my time in high school. He was a good friend of my parents, and they had trusted him to put me through school. A smart, well-educated man, highly respected and regarded. David graduated from Georgetown, and attended grad school in Duke. He valued hard work, respect, and discipline more than anything, he believed that these three were the most important things when getting through life. A lot of the times when I first began school, I would be very irritated and mad that I couldn’t read or understand what people were saying. My coach set up a systemShow MoreRelatedThe On The Track And Field Community1131 Words   |  5 PagesChapter 1 Introduction There is a serious debate in the track and field community as to whether there is more benefit, namely increased distances, to be gained in the throwing events from improvements in technique versus improvements in strength. 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Us History Chapter 4 Notes. Free Essays

Chapter Four. African Slaves Build their Own Community in Coastal Georgia Slavery was originally prohibited in the original 1732 Georgia charter; the ban was lifted two decades later when Georgia became a Royal colony. By 1770, 15,000 slaves made up 80% of the population. We will write a custom essay sample on Us History Chapter 4 Notes. or any similar topic only for you Order Now Rice was one of the most valuable commodities of mainland North America, surpassed only by tobacco and wheat. The Atlantic slave trade grew to match rice production. Saltwater† slaves (slaves taken from Africa, rather than â€Å"country born†) were inspected and branded on coastal forts in Africa, shipped overseas (where many died), then sold and marched to plantations Mortality rates were high for slaves, especially infants. Overseers could legally punish slaves and even murder them. Many slaves run and some rebel. Most slaves remained enslaved, but built up families and communities, mixing African traditions with their new homeland. The Beginnings of African Slavery Slavery has long been a part of Mediterranean Europe; Venetian and Genoese traders sold captured Slavics (the word slave derives from them), Muslims, and Africans. Enslaving Christians, but not Africans or Muslims, disturbed many Europeans. Portuguese expansion in West Africa was motivated by access to gold, wrought iron, ivory, tortoiseshells, textiles, and slaves (previously dominated by the Moors, or Spanish Muslims). European slaves left the slave hunting to the African traders. Sugar and Slavery Slaves were imported to work sugar plantations in Hispaniola and Brazil, among other islands. The Dutch expanded the European sugar market, leading France and England to start island sugar colonies as well. West Africans Marriage kinship ties, practicing polygamy, characterized societies on the West African coast. Women enjoyed social and economic independence. Shifting cultivation, cultivating land for several years then moving on while the cleared land lay fallow, helped build up African communities and commerce, creating states and kingdoms. Kingdoms on the coast were the ones who first traded with the Portuguese. Slavery in African society was much freer; slaves were treated as family members rather than possessions, were allowed to marry, and had freeborn children. The African Slave Trade The Demography of the Slave Trade 10-12 million slaves were transported to the Americas during the slave trade. 76% of slaves arrived from 1701-1810, the peak years of the slave trade. Half went to Dutch, French, or British plantations in the Caribbean, a third to Portuguese Brazil, and a tenth to Spanish America. About 5% went to the North American British colonies. With the exception of the Seven Years’ War (1756-1763, a world war between the French and their allies versus the British and their allies), the slave trade continued to become more important to the colonies up to the Revolution. There were twice as many male African slaves as female; most slaves were young, between 15 and 30, and represented nearly every West African ethnic group. Slavers of All Nations All western European nations participated in the slave trade, shipping slaves from coastal outposts and, later, through independent American and European traders. The Shock of Enslavement Many slave traders lived permanently in coastal outposts and married local women, reinforcing commercial ties through family relations. Many slaves resented African involvement in the slave trade. Most Africans were enslaved through warfare. As the demand for slaves increased, slave raids pressed deeper into the continent. Captives would wait in dungeons or pens called â€Å"barracoons†, separated from family and people of the same ethnic group to discourage rebellion, before being branded with the mark of their buyer. The Middle Passage The â€Å"Middle Passage† referred to the middle part of the trade triangle from England to Africa to America back to England. Historians estimate that 1 in 6 slaves died from the unsanitary conditions, extreme crowding, and diseases. Many committed suicide as an act of rebellion on the slave ships. Captains resorted to putting netting over the side of their ships. Arrival in the New World When the slaves arrived, their captors would parade them around to impress buyers. Slaves would be sold at auctions or during a â€Å"scramble†, where prices were pre-set and the buyers would rush the slaves in a corral and take their pick. Political and Economic Effects on Africa The African slave trade eventually weakened Africa as a whole. The slave raiding was depopulating Africa as many died during the raids and the rest were sent off to be sold. The arrival of European goods stifled local manufacturing while agriculture lost labor. The slave trade allowed for the political, economic, and military conquest of Africa. The Development of North American Slave Societies Slavery comes to North America The first slaves arrived in Virginia in 1619. Slaves cost twice as much as indentured servants, but had about the same life span in the disease-ridden Chesapeake. Consequently, most planters employed more indentured servants than slaves. This was termed society with slaves, where slavery was just one form of labor. In this type of society, the status of black Virginians was ambiguous; many owned slaves and land themselves, even with the lack of religious distinction among them. In slave society, slavery is the dominant form of labor. As indentured servants became scarce as less English immigrated, their labor was replaced with slavery. Slavery was strengthened by making slave-status inheritable through their mother’s status (letting white male owners take slave mistresses), ending Christian baptism from changing conditions of servitude, and by making the killing of a slave a non-felony. The Tobacco Colonies The growth of tobacco required the growth of the slave trade. The natural growth of the slaver population served to increase the profits of their owners, and so was encouraged. The Lower South Settlement in the south was a slave society from the outset, using native slaves. However, this soon shifted to African slaves as the South began producing more rice. Slavery in the Spanish Colonies Spanish settlements employed slaves, the most benign form being the kind in Florida, which resembled the system in use in Mediterranean and African society. Spain declared Florida a haven for fugitives to weaken southern English colonies. In New Mexico, however, Spain used native slaves, though in a more restrained way to prevent another Pueblo Uprising. Spain captured â€Å"infidel Indians† such as the Apaches or nomads from the Great Plains and enslaved them, using them as house servants or fieldworkers. French Louisiana Slaves were heavily used in Louisiana agriculture until the Natchez Rebellion, with slaves making up no more than a third of the population. Only when the 18th century ended did slavery make a return, in force. Slavery in the North Slavery was universally accepted in the colonies. Among the rich, ownership of slaves was almost universal as well. The Quakers were the first to oppose slavery, but they would not gain traction until the Revolution. African to African American The Daily Life of Slaves Slaves were provided with scant clothing. In the South, where large numbers of slaves were needed, the concentration of slaves allowed for the emergence of communities, despite the harsh working conditions imposed on them on the large plantations. Families and Communities Families were the most important unit in African American culture, but the slave codes did not allow for legal slave marriage. Families were often broken up by sale. Naming practices reinforced family ties to overcome forced separations. Emotional, and especially kinship ties, formed the basis of African American society. African American Culture Most slaves were not Christian until the Great Awakening, due to the reluctance of their masters. One significant practice occurred in their burial rituals. African Americans created dialects by mixing English with native African languases. The Africanization of the South Southerners were influenced by African American culture, changing their diet, their art, language, music, and dance. Violence and Resistance Slavery rested on the threat of violence, even among â€Å"humane† slave owners like George Washington. Many slaves resisted through refusing to cooperate, destroying property, and by running away. Runaways would create communities called â€Å"maroons†, from the Spanish â€Å"cimmaron† (wild, untamed). They would intermingle with the Florida Creeks, creating the Seminole tribe, derived from the corruption of cimmaron. Revolts occurred in the colonies, but not on the scale of Jamaica, Guiana, or Brazil; the family and community ties slaves established made them less likely to revolt. Slavery and Empire Slavery the Mainspring The slave colonies accounted for 95% of all American exports to Great Britain from 1714-1773. Slavery helped the British economy in three ways. Slavery created capital, which funded economic expansion. Second, it created the raw materials necessary for the Industrial Revolution. Third, it created large colonial markets for British-made goods. The Politics of Mainspring Mercantilism, an economic system where the government intervenes to increase the national wealth, was the dominant economic theory in Europe. Mercantilists viewed commerce as a zero-sum game with clear winners and losers vying for a fixed amount of trade and wealth. Wars for Empire European wars spilled over into conflicts for colonial supremacy. In Queen Anne’s War, Great Britain won the war against France and Spain, gaining exclusive rights to supply slaves to its American colonies. British Colonial Regulation Mercantilists used state-run monopolies to manage commerce. The British used colonial regulations to make their American colonies markets for British manufacturing goods and exporters of commodities that the British would resell at profit. Most did not complain about the British economic policies until the 1760s. The Colonial Economy Mercantilism served to enrich the white colonists by giving them a protected market to sell and market their goods (sometimes by violating their own regulations). Slavery provided the capital to expand Northern port cities. Slavery and Freedom The Social Structure of the Slave Colonies Slavery provided the conditions necessary t o improve the life of the white settlers. Colonies were ruled by the self-perpetuating planter elite, which owned 60% of the wealth and half the land. The Southern landowners supported them. Under them were the landless colonists. White Skin Privilege White colonists gained a special status through the exploitation of race. Blacks were subject to a number of harsh penalties that did not apply to whites, including a ban on interracial marriage and sexual relations (refer to Thomas Jefferson). Even freedmen did not share equal rights. This set up barriers among the working class, including slaves and the landless colonists, who otherwise may have united against the moneyed classes if not for racial prejudice. How to cite Us History Chapter 4 Notes., Papers

Conflict And Negotiation Organizational Foundations - Click On Sample

Question: Describe about the Conflict and Negotiation for Organizational Foundation. Answer: Important changes in the healthcare market, and the implications for Becton Dickinson (BD) and its BDVS division Healthcare market is always in the urge of changing or upgrading its techniques to make the life easy for any kind of analysis like testing, collection of samples, their preservation and transportation. In todays generation varieties of vacutainers for blood collection, liquid sample collection using swabs, needles, syringes etc. including various pharmaceutical products and diabetic products have also been upgraded. The changes are also seen in medical, microbiological, industrial sciences and other non-medical care products (Burns, 2014). Because of this development there are many companies emerging with their own products and few implications are to be faced by Becton Dickinson and its division as it was the leading company in providing all the medical related stuff to any organization, hospital, laboratories etc. the companies started compromising for the money and using the products available for lower price than the BD company. They even compromised with the quality of medical care products. By doing so the BD Company has faced a crash in all its shares around 20% and other companies are profited more than 20% (Brett, 2013). It eventually had to make different products from other companies and promote it through sales by investing huge amounts to regain its place in the market. Importance of the APG contract for BDVS, things that are at stake for BDVS winning or losing the contract APG stands for Affiliated Purchasing Group which is an organization based centrally and many shareholders are included under this group (Booth et al., 2016). This programs main motto is to supply quality products at lowest price and they believe In Unity, there is strength. They offered their services by making agreement with many medical equipment suppliers. So it is eventually necessary for the BDVS division to win the contract and make a fair agreement to make themselves and their products sustainable in the market. There were few negotiations faced by BDVS division from APG for lowering the price of products in purchasing of needles and tubes. Meanwhile APG has acquired agreement with Terumo (Caputo Ayoko, 2016). But BDVS in the meantime started promoting their sales and hence could withstand in the market in those hospitals which were APGs affiliated. Later BDVS sales in terms of venous blood collection tubes have increased by getting contract from the APG. If contract was not retained then to sustain their business in the market was a big question mark (Booth et al., 2016). Importance of each aspect of the negotiations (pricing, brand name, and delivery terms) for each party explicitly and implicitly involved (APG, its member hospitals, BDVS, BDVS distributors, and competing suppliers) Becton Dickinson was a leading company in healthcare products since ancient times as it has retained its brand name by maintaining quality and by providing advance medical products for all the required fields at the cost effective range. The sales team of BD is quite smart in getting the business to the company (Booth et al., 2016). They acted wisely before APG could hold back their business and drop their shares. Because of the brand name and pricing they made their way to individual hospitals and fixed the negotiations for which the APG has to come down and make the contract with the BDVS division. A big deal was made by the BDVS division after management announced a new scheme of blood collecting products in the APG affiliated hospitals (Brett, 2013). As per the analysis things that BDVS should do According to my views, the BDVS has always taken the right path of keeping their business in market. It has chosen the option of promoting their products in the various fields which is the best idea to be considered for. But since it already has its brand name it could easily get its position back in the market (Booth et al., 2016). Because in these days the quality and the advanced technology rated companies are given prior importance. So though if BDVS was not included under the APG group it would have made its market because the competitors are not well organized with their products but it would have taken sometime. But finally it has proved its brand name by making APG to know their business abilities. References Burns, J. S. J. (2014). Conflict and Negotiation.Organizational Leadership: Foundations and Practices for Christians, 171. Brett, J. M. (2013). Culture and Negotiation: Three Models. Booth, A., Crouter, A. C., Clements, M. L., Boone-Holladay, T. (Eds.). (2016).Couples in Conflict: Classic Edition. Routledge. Caputo, A., Ayoko, O. B. (2016). The role of cultural intelligence in negotiation and conflict management: a conceptual model.