Definition of Value at Risk (VaR) Value at risk is a statistical technique which measures the level of financial risk in a portfolio over a specific time frame. For example‚ if a firm states that it has a 1% one week value at risk of $5 million; this would mean that for any given week‚ the firm would have a 1% chance of losing $5 million. In order words‚ 1 out of every 100 weeks‚ the firm would expect to have a loss of $5 million. This can be viewed as the standard deviation of portfolio value
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RISK THEORY - LECTURE NOTES 1. INTRODUCTION The primary subject of Risk Theory is the development and study of mathematical and statistical models to describe and predict the behaviour of insurance portfolios‚ which are simply financial instruments composed of a (possibly quite large) number of individual policies. For the purposes of this course‚ we will define a policy as a random (or stochastic) process generating a deterministic income in the form of periodic premiums‚ and incurring financial
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1853‚ Western imperialism was at its height. It was spreading to several countries. British colonized India‚ the dutch colonized Indonesia‚ the United States colonized the philippines‚ and the french colonized vietnam. In 1929‚ the crash of the stock market brought a worldwide depression‚ known as the Great Depression. The depression caused instability in many countries. International commerce declined and tax revenues‚ profits‚ and personal income decreased. The great depression especially impacted
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and storage capacity. (p.2) LV monogram was inspired by the Japanese and Oriental designs of the Victorian age. (p.2) The modern age of Louis Vuitton Expanded its product line by applying the craftwork and design of its leather to small leather goods such as purses and wallets‚ and to its whole luggage line. The monogram canvas was redesigned to fit the new range of products. (p.3) Started their first ad strategy in the 60’s by giving bags to celebs. (p.3) By the mid 70’s the brand had become
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________________ BE110 FINANCIAL REPORTING AND ANALYSIS ___________________________________________________________________________ Time allowed: 3 hours The paper consists of EIGHT questions. FOUR in Section A FOUR in Section B Candidates must answer FOUR questions. At least TWO questions from Section A At least ONE question from Section B All questions carry equal weight. Candidates are permitted to bring into the examination room: Calculators (hand
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Japan foreign policy toward the United States There are hundreds of states in the world‚ and each one of states has its own policy that they conducted within the country. However states will have to confront or associated with another states thus there must be foreign policy for a country that should be conducted toward the other country. A country might have a lot of different policy toward many others countries. A foreign policy is (Damerow 2009) “the relationships which central governments have
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THE STRATEGY EXECUTION SOURCE Article Reprint No. B0911A Risk Management and the Strategy Execution System By Robert S. Kaplan For a complete list of Harvard Business Publishing newsletters: http://newsletters.harvardbusiness.org For reprint and subscription information for Balanced Scorecard Report : Call 800-988-0866 or 617-783-7500 http://bsr.harvardbusinessonline.org For customized and quantity orders of reprints: Call 617-783-7626 Fax 617-783-7658 For permission
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1.How did Japan perform until 1991? How do you explain this performance? The stimulus of Japanese economic miracle was the sorrow and revenge of the Japanese after surrender in World War II that had severely affected Japanese way of living. Likewise‚ it pushed the Japanese together to work harder for economic reform. Japan experienced tremendous economic growth and becomes the second largest economy in the world in 1968[1]. There are several underlying mechanisms behind the success of economic
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Additional useful information on types of risk Market or price risk relates to the uncertainty in markets and prices for both inputs (purchased for the production process)‚ and outputs (products and services for sale by the firm). Market/price risk has always been a major problem in most businesses and results from the economic forces of supply and demand. Outcome of these forces are fluctuations in the price for a commodity and/or inputs in the production of that commodity. These fluctuations
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BIO-202 Unit 4 Lab Report Purpose: What was the purpose of doing this exercise? Activity 1: Microscopic Anatomy of Lymphatic Structures Observations: Sketch of Reticular Connective Tissue Slide (Lymph Node). Describe the structures you observed on the slide Sketch of Spleen Slide: Describe the structures you observed on the slide Sketch of Tonsil Slide: Describe the structures you observed on the slide Sketch of Thymus Slide: Describe the structures you observed on the slide
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