... DevelopmentEconomics, 1996 (Washington, DC: The World Bank).Chernow, Ron, 1997, The Death ofthe Banker. The Decline andthe Fall ofthe Great FinancialDynasties. The Triumph ofthe Small Investor (New York: ... position and counterparties, on their side, might consider for them unnecessary to further assess the riskiness ofthe bank. Finally, the inadequacy ofthe static accounting framework, underpinning the ... incentive-related policy implications of circuit theory of finance. Section I.2 discusses the special role ofthe financial system as the core of the circuit process, and reports on recent empirical...
... securitytt1tPCPPR+−=+R = the rate of return on the securityPt+1 = price ofthe security at time t+1, the end ofthe holding periodPt = price ofthe security at time t, the beginning ofthe holding periodC ... Model)k(1P)k(1DIVPe1e10+++=PO = the current price ofthe stockDIV1 = the dividend paid at the end of year 1ke = the required return on investment in equityP1 = the sale price ofthe stock at the end ofthe first ... 14Implications ofthe Theory •If there is a change in the way a variable moves, the way in which expectations of the variable are formed will change as well.• The forecast errors of expectations...
... to the more abstract parts of the theory of the value of money. Professor von Mises shares withMarshall and one or two others the merit of having assimilated the treatment of this theory to the general ... Factorsin the Theory of the Value of Money The Objective Exchange-Value of Money The Problems Involved in the Theory of the Value of Money97100102CHAPTERII THE DETERMINANTS OF THE OBJECTIVEEXCHANGE-VALUE,ORPURCHASINGPOWER, OF MONEY(1) The Element of Continuityin the ObjectiveExchange-Value of Money§ ... Exchange-Value of Money123(II)Fluctuationsin the ObjectiveExchange-Value of MoneyevokedbyChangesin the Ratiobetween the Supply of Money and the Demandfor it§ 6 The Quantity Theory 124§ 7 The Stock of Money and the Demandfor Money131§ 8 The Consequences of anIncreasein the Quantity of Money...
... society9 and in military projects. There is thus a good deal of “command and control” thinking to be found in the foundations ofthe basic technical tools of project management theory. In the post-industrial, ... with thesequestions the paper gives an outline of some ofthe basic tools and assumptions of existing projectmanagement theoryand compares these to conditions in research. Based on this, the ... involved in the management ofthe content ofthe research.As a starting point the research project manager thus has the task of managing both the complexitiesstemming from the culture(s) of researchers/research...
... the use-value that they themselves attach to their products, but also the use-value that these possess in the estimation ofthe other members of the community. The balancing of production and ... differentiating the utility ofthe two for monetary purposes. The consequence was the increased employment of one ofthe metals andthe disappearance ofthe other. The legislative and judicial ... governments and banks -of- issue. Dependence ofthe value of money on the production of gold does at least mean its independence ofthe politics ofthe hour The dissociation ofthe currencies...
... sailswest,anotherto the Orient;oneexplores the legendaryseas of the silentNorth,anotherbasksin the sunnySouth;buttheyall the fantastic and the somber, the tragic and the gayfashion theirworksonsomemodel of form.28 THE THEORY OF MUSICalorder,anotherportionissungwithoutanyfixedsuccessionorrelation of accent and isaltogetherrhythmless. The Gregorianchant ... features of musicalcomposition;for,howevergreat the line of demarcation between the twomayhave beenin the past,therecanbenoquestionasto the mixing and the overlapping of the sacred and ... and secularsubjects.Independently of class and character,musical com-12 THE THEORY OF MUSICnerasto make eachpartemployedessentiallyrequisite, and all the partsequally responsiblefor the completion of the musicaleffect,thenitbecomespolyphonic,asinEx.IV.Ex.IVj'IAiAjAA-AIt...
... Quantum-Law ofthe Emission and Absorption of Light (1905). These were followed some years later by the Theory ofthe Specific Heat of Solid Bodies, andthe fundamental idea ofthe General Theory ... on the basis of the theoryof relativity. In the equation wt'x'= we must then express x and t in terms of x and t, making use ofthe first and fourth equations of ... where the beginning ofthe rod and the end ofthe rod lie with respect to K at a particular time t ofthe system K. By means ofthe first equation ofthe Lorentz transformation the values...
... information, then, is the number of bits per systemin the sequence needed to specify the whole sequence of states, and is given by the information ofthe classical source. The quantum analogue ofthe ... by the obtaining ofthe fact that q (see below). None of the obvious approaches, though, suggest that the appeal to an amount of information content (and hencea link to a quantitative theoryof ... anything other than a free-wheel.IntroductionMuch is currently made ofthe concept of information in physics, following the rapidgrowth ofthe fields of quantum informatio n theoryand quantum...
... Carroll’s theoryof historical narratives, one should take into account, for the reasons given above, Weitz’s sound intuition about the open character ofthe concept of art. But on the other hand, the ... (ed.), The Oxford Handbook of Aesthetics (Oxford University Press), 136-54. WEITZ, M. (1956). The Role ofTheory in Aesthetics’, in Neill, Alex and Ridley, Aaron, The Philosophy of Art: ... that they involve a confessional aspect similar to the works of Tracey Emin, and so on – and they might take these reasons to warrant the inclusion of talk shows among artworks. Dickie’s theory...
... food stocks, andthe mood ofthe garrison. The tactics of the Daily Mail captured the attention ofthe nation; the newspaperdramatized the situation ofthe town by emphasizing the danger that ... notions of Boer inhumanity towardAfricans, the pro-war argument ofthe ‘‘negrophilists.’’ The other cat-egory into which mentions of Africans fall is praise ofthe loyalty of the Cape Boys andthe ... MafekingNight andthe following day, they were ‘‘everyone’’ and ‘‘London’’ and even ‘‘England.’’ They were created as a group by the newspapers, and this chapter examines the mechanism of their creation and...
... (such as the booby-trapping of temples), the use of poison, the destroying of wells andthe sowing of dissension in the enemy’s ranks.46Thestruggleformoderationinwarhasbeenalongone – and one ... world of inde-pendent political communities bound together by the rule of law ratherthan by the sovereignty of a single emperor. The Chinese can thereforebe said to have been the pioneers ofthe ... the law of war. It tells the story, in narrative form, of the interplay through the centuriesbetween,ontheonehand,legalideasaboutwarand,ontheotherhand,statepracticeinwarfare.Neffcovers the emergence,...
... imperfection. The mainstream theoryofthe firm evolved under the paradigm ofthe agency theory andthe transaction costs theory as a theoryof economic organizationrather than as a theoryof entrepreneurship.A ... bytraditional banks.Does the amended theory fully contradict the present one and have the concepts ofthe present theory become obsolete? The concepts ofthe present theory of financial intermediation ... for the analysis of the financial intermediation, both at the macroeconomic and at the Building Blocks for an Amended Theory 39activity. However, this is not the focus of that theory. The theory...