Commerce

Many corporate assets, particularly growth opportunities, can be viewed as call options. The value of such 'real options' depends on discretionary future investment by the firm. Issuing risky debt reduces the present market value of a firm holding real options by inducing a suboptimal investment strategy or by forcing the thm and its creditors to bear the costs of avoiding the suboptimal strategy. The paper predicts that corporate borrowing is inversely related to the proportion of market value accounted for by real options. It also rationalizes other aspects of corporate borrowing behavior, for example the practice of matching maturities of assets and debt liabilities.

This paper briefly describes recent papers on the economics of rational herding in financial markets. Some models can predict perfect herding, in which rational agents all act alike without any countervailing force. Such herding typically arises either from direct payoff externalities (negative externalities in bank runs; positive externalities in the generation of trading liquidity or in information acquisition), principal-agent problems (based on managerial desire to protect or signal reputation), or informational learning (cascades). The paper also provides a few pointers to related literature and suggests issues to be addressed in future research.

This paper presents a simple discrete-time model for valuing options. The fundamental economic principles of option pricing by arbitrage methods are particularly clear in this setting. Its development requires only elementary mathematics, yet it contains as a special limiting case the celebrated Black-Scholes model, which has previously been derived only by much more difficult methods. The basic model readily lends itself to generalization in many ways. Moreover, by its very construction, it gives rise to a simple and efficient numerical procedure for valuing options for which premature exercise may be optimal.

In emerging Indian economy, as more and more women have started to work, the malady of sexual harassment at the work place has reared its ugly head in several fields. From the police and the army to business process outsourcing set ups, from multinational corporations to professional sport -it's regrettable that no sector or discipline has been spared. 1 Sexual harassment infringes the fundamental right of a woman to gender equality under Article 14 and her right to life and live with dignity under Article 21. It involves a range of behaviour.

The paper examines the ethical conception of the most well-known and much discussed Hindu text, the Bhagavad Gītā, in the context of the Western distinction between duty ethics and virtue ethics. Most of the materials published on the Gītā make much of its conception of duty; however, there is no systematic investigation of the notion of virtue in the Gītā. The paper begins with a discussion of the fundamental characteristics of virtue ethics, before undertaking a discussion of the conceptions of duty and virtue in the Gītā. The paper clearly demonstrates that (1) both duty and virtue coexist in the Gītā, and (2) the Gītā accords virtue an important place.

Corporate social responsibility-CSR is not new in India. For ages, entrepreneurs and business persons have tried to help the society at large through some or other means in its development. The word was not CSR, but the spirit was that of CSR. According to the ancient Indian wisdom, the social distribution of wealth was mainly guided by the holy Indian scriptures "The Vedas." The Vedas attest that there will be an appropriate conveyance of wealth from the well off to poor people

The consumer shopping is to select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants.Mainly in which shopping is about acquiring needed goods and service. However, modern shoppers buy this to reward themselves, to satisfy psychological needs or to make themselves feel good. Modern shoppers purchase things to make a statement, to show off their personality or to boost their self-esteem. Purchased item have become an affirmation of the psyche. The study was conducted to focus on how the selection of retail chain and the social economic status of the consumer influence the buying behaviorin retail segment.Five behavioral variables namely quality, product criterion, product performance, price and promotions were examined in selected retail garment outlet to retain the customer. A survey questionnaire was developed using adaptation from earlier study done on the similar topic. Survey question was administered to 480 respondents via mass mailing o...

This study investigated the impact of Corporate Social Responsibility on bank profitability with particular reference to United Bank for Africa (UBA) Plc. The study used annual reports of United Bank for Africa (UBA) Plc. Data used include corporate social responsibility expenditure and profit after tax for the period of 2006-2012. Data relating to cost/investment/expenditure as the case may be for the bank on corporate social responsibility and profitability was used to construct ordinary least square (OLS) model of regression to which was analyzed using SPSS. Result showed that Corporate Social Responsibility spending has short term inverse effect on Net Profit but in the long run it will provide better returns. The paper recommended that government should put Policy framework in place that will be design for corporate social responsibility in Nigeria to ensure compliance by setting mechanisms and institutions for the implementation of Corporate Social Responsibility.