Managing Financial Principles and Techniques Coursework

Managing Financial Principles and Techniques - Coursework Example Management of the institution is also recommended to reduce the amount of cash and cash equivalent assets outstanding to avoid investing in projects with negative net present value, and avoid pushing management into empire building. In all, Autonomy Plc has a good performance in its liquidity, profitability, efficiency and Long term financial stability as on average it out performed the industry performance. These interpret a favourable signal to the company horizontal trend. To suppliers, the quick payment system operated by the company is unique to the industry as such; suppliers should strife at strengthening their relationship. For applicants, the company is a going concern; applicant should not hesitate to seek a career with the company Globalisation, the new information technology, and deregulation of financial markets have eased the provision and search of finance. Millions of shares are traded every day on the world's stock markets. (Penman, 2003). Investors who trade on these stocks are often forced to ask themselves whether they are buying or selling at the right price. (Artril & Elliot , 2003). Artrill & Elliot (2003) argue that, they often attempt to provide answers to these questions by turning to various media including internet chat rooms, printed press, "talking heads" on television and financial networks, who often voice opinions on what they feel the stock prices should be. In addition, investors consult investment analysts who provide an almost endless stream of information and recommendations to sort out. There are often claims that some shares are undervalued and vice versa. (Penman, 2003). This information at times becomes confusing leaving the investor with no clear indication of what the true prices of stocks should be. (Penman, 2003). In the prevailing circumstances, Brealey & Myers (2005) state that the investor is forced to make the investment decision following his/her instinct or based on the information provided by the market. (Penman, 2003). Investors who make the decision based on instinct are referred to as intuitive investors while those who make investment decisions based on capital market efficiency are referred to as passive investors. (Penman, 2003). Passive investors carry out their investment decisions based on the assumption that the market price is a fair price for the risk taken, that is, that market forces have driven the price to the appropriate point. (Brealey & Myers 2005). These investment mechanisms appear to be very simple, as they do not require much effort. (Penman, 2003: pp 3). However, Berlin & Lexa (2003) caution that, both investors run risks that are even more than the risks of the firms they are investing in since they can either pay too much or sell for less and as a result suffer a decrease in returns on their investments. (Penman, 2003). Penman (2003) argument was supported by Brealey and Myers (2005) when they stated that, the intuitive investor has the problem of the intuitive bridge builder: "one may be pleased

DENISON DAM (TX-OK) Essay Example | Topics and Well Written Essays - 2500 words

DENISON DAM (TX-OK) - Essay Example Ever since the dam was built, the lake has reached its spillway three times; which is 200m or 640 feet above the sea level: in 1957, 1990 and the most recent happened in 2007 (Mathews p44). The dam is renowned for its large size and power production magnitude. Though there are more dams that have been constructed ever since, it makes a good deal of contribution to the general output of the Unites States dams. It has 14 million cubic meters or 18,800,000 cubic yards of rolled –earth fill; it also produces about 250,000 megawatt of hydropower electricity annually. Lake Texoma itself provides about 154,000,000 cubic meters or 125,000-acre feet of water storage to the local communities in five permanent contracts. Additionally, the dam has offered some other benefits such as the federally owned and managed wildlife refuge areas. Through this, it has provided about 47 areas for recreational activities. These recreational areas are owned and run by the United States Army Corps of Engineers (Ojeda p85)). There are two state parks – one situated in Texas while the other is situated in Oklahoma. In addition, there is an extra 32,000 hectors or 80,000 acres of land opened for public use as hunting grounds. Lake Texoma has two main sources, which are the Washita river from, the north and Red river from the West. The minor sources of the dam that can be noted are the Little Mineral Creek, Big Mineral Creek, Rock Creek, Buncombe Creek and the Glasses Creek. Lake Texoma then drains to the main outlet, the Red River into the Denison dam. Normal elevation of the pool fluctuates from 615-619 feet which is about 187-189 meters NGVP (National Geodetic Vertical Datum. These limits depend on the time of the year. The flood control section extends the height to about 197 meters (645feet) NGVD (National Geodetic Vertical Datum). Texoma Lake has crested the Denison dam’s spillway at the level of