The Black Scholes Option Pricing Theory - 2335 Words

Client Specification My uncle in law is Portuguese who has been living in Macao for more than 20 years. Recently he plans to go back to Portugal after his retirement. Portugal has been in deep recession for 5 years and is the third European country to need a bail out. After noticing the default crisis in Greece and Argentina, he is worried about Portugal will default very soon under the impact of European sovereign credit crisis. Therefore I want to use my knowledge gained in this year to solve his puzzle. Regarding that my uncle in law does not have strong econometric knowledge, simple method with detailed steps and theory is preferred. This report aims to use the basic Merton Model with brief described procedure to compute sovereign†¦show more content†¦In order to calculate the sovereign probability of default, Gray et al (2007) suggests a sovereign capital structure which simply use the information from the sovereign balance sheet and apply the Merton Model for the estimation of sovereign asset and volatility. It has been proved by Sy-Hoa Ho (2014) with the evidence from Argentina and initially mentioned in Van et al (2005) with the Netherlands case. In Figure 1, the 5-YR CDS shows high bp starting from late-2009 to late-2012 and a gradually decreasing trend starting from the late-2013. In Figure 2, it is observed that there is steady and significant increase in the percentage debt of total GDP in Portugal since 2009 compared with others. Besides, there is a slowdown of the increasing trend in the last two years. Specification Sovereign Asset Sovereign assets is a state owned asset and is equal to the sum of the sovereign equity and sovereign debt at any time. V_t=S_t+B_t (1) According to Gray et al (2007, Page 10), it states that â€Å"sovereign assets includes the foreign currency reserves (R_MA), public asset (A_Other) and net fiscal asset (A_G) which is the present value of taxes and revenues â€Å"and is expressed in the following equation: A_S=R_MA+A_G+A_Other=M_BM+(B Ì…_SLC-P_SLC )+(B Ì…_SFX-P_SFX )+ÃŽ ±P_F where M_BM-monetary base (B Ì…_SLC-P_SLC ) is the risky debt of local (domestic) currency (B Ì…_SFX-P_SFX ) is the risky debt of foreign

Analysis Of Sara Content Analysis Approach - 1556 Words

6. How were the data then analyzed? What procedures were used? (pgs. 88-89) The data were analyzed with the SARA content analysis approach. This approach involves constant comparison, multisource and multipass strategies, and triangulation of data sets for more robust findings (86). Audiotape recordings, researcher observations and intentional debriefings after each focus group were used to document the focus group sessions. The researchers constructed themes and dimensions in an attempt to identify the messages communicated in the focus group sessions. The idea of multipass strategies is to continue data analysis until no new findings or insights emerge. The focus of the study using SARA was on the meaning of the experiences in the words of the participants and not how some researchers use SARA by counting how frequently certain words are used. Validity was based on the collective results of all focus groups and the saturation of common themes and responses. The researchers analyzed the data in eight different passes as noted below: 1. Each researcher independently analyzed all of the transcripts, reading carefully and writing down important information. 2. The researchers collectively discussed the information provided in #1 above and agreed on commonalities and differences among the individual analysis. 3. Themes (labels) emerged and the researchers developed definitions to describe these themes. 4. The data were coded into themes by each individualShow MoreRelatedEssay on Community Policing and Problem-Oriented Policing1408 Words   |  6 Pagesdue to the fact that it is a police strategy that focuses on the identification and analysis of specific crime and disorder problems (Goldstein, 2001). Plus, the concept of problem-oriented policing involves interaction with the public just as community policing does. So where is the difference? POP emphasizes on research more than any other aspect of policing. 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Project Scheduling and Cost Control

Question: Discuss about the Project Scheduling and Cost Control. Answer: Introduction: In 1910s Henry Gantt, (an American mechanical engineer and management consultant) devised a special type of a bar chart called a Gantt chart that denotes a schedule of a particular project (Milos?evic?, 2013). In my research, I will use a Gantt chart to demonstrate the commencement and culmination periods of the summary and terminal rudiments of the task. Summary and terminal essentials in this case will comprise of the task breakdown structure of the entire project. Besides, the Gantt chart will be used to depict the dependency (that is the precedence linkage) correlation between activities (Taylor, 2008). As shown in the timeline, the research process will cover a period of eight months that is from April to November 2017. The terminal and summary elements of the study proposal are represented in a dependency relationship such that one is a prerequisite of the other. For instance, identification of the research proposal will be a precondition that is the phase must take place first before formulating the research questions. Throughout my researching activities, I will strive to insurer all stages in the Gantt chart are conducted as stipulated within the given time frames but I will also allow room for flexibility. Bibliography Milos?evic?, D. (2013). Project management toolbox : tools and techniques for the practicing project manager. Hoboken, N.J.: J. Wiley Sons. Taylor, J. (2008). Project scheduling and cost control : planning, monitoring and controlling the baseline. Ft. Lauderdale, Fla.: J. Ross Pub.