Integrated Supply Chain Network-Free-Samples-Myassignementhelp

Questions: 1.How would organizations be able to make and convey better an incentive by working as Supply Networks? 2.Identify the points of interest and detriments of an Integrated Supply Chain Network. 3.Identify three basic perspectives or characteristics of coordinations frameworks alluded to in this Case Study. 4.What jobs does innovation play in a Supply Chain from a Logistics Perspective? 5.Identify three unique manners by which innovation can satisfy the jobs you distinguished in Question 4 and quickly clarify, utilizing models, how they add to Improving Supply Chain Performance. Answers: 1.For development and extension of business, the job of gracefully chain organize is unquestionable. By receiving systems the associations actualize amazing displaying approach through use of very much organized flexibly chain plan. The above all else system that an association need to take so as to convey values is the arranging that ought to be request driven and consolidation of business working model. Appropriate arranging guarantees the development as well as compelling reaction to dangers related with the professional normal catastrophes, monetary breakdown or political change (Ahi and Searcy, 2013). A versatile and energetic flexibly affix is vital to accomplishment of the business activity when arranged and executed altogether. Distinguishing the state of the interest and hazard a decent gracefully chain ought to be receptive to the progressions and better adjust to the changing business sector situations with spryness. To make better qualities beneficial advancement through appropriation of item enhancement and the executives assumes significant job as it permits the business to remain one stride ahead in the opposition. Aside from being arranged, lively, versatile and inventive, a gracefully tie certainly should be feasible socially and naturally that give the business edge over others regarding effectiveness underway administration abilities of providers and engaging quality to laborers. 2.An coordinated gracefully affix makes start to finish joint effort among administrators and organizers so as to make a powerful flexibly arrange that permits alteration and changes with spryness in the creation procedure. It can likewise give operational adaptability to react energetically to changing interest and market rivalry through creation appropriate forecasts and assembling insight about the market and contenders. Straightforwardness of gracefully, inventories and stream of material are commitment of incorporated flexibly chain that takes correspondence about the item on a next level (Stadtler, 2015). This can likewise acquire viability business through higher income, better administration and coordinated effort. Among hindrances the more drawn out time taken to execute the provisions and related cost factor are fundamental issues looked by the business associations. In addition the flexibly chain includes greater scope of providers who should be synchronized and unwavering quality is significant worry for that. Dubious occasions like regular issue or inescapable business issues makes the provisions upset influencing business. 3.The contextual analysis features three significant parts of strategic framework as talked about underneath. Productivity: A proficient gracefully bind the executives adds to more prominent market capitalization of the organizations. It is the way to turn out the assembling limit with utilizing procedures sourcing all around. Perceivability: To have a knowledge into the handling and securing exact information in regards to the procedure is basic to learn developing business activity. This leads firms to go for receiving innovations (Pritchard, 2007). Innovation in coordinations: In request to make the gracefully chain quick track the job of innovation in different field of business are unquestionably significant. Unpredictability in assembling process and unsure variables can regularly prompt deferred or dropped flexibly influencing business which requires use of innovation to limit the expense of the elements and improve benefit after some time through development in activity. 4.In any flexibly, chain coordinations are the way to draw out the best outcomes. Securing of assets, putting away and shipping to goal requires the executives that is embraced through coordinations (Ross, 2013). Presently inserting innovation to this can make the flexibly chain process all the more snappy guaranteeing liberation of good quality. Also utilization of innovation makes the business flexibly chain activity increasingly obvious, straightforward and streamlined. This offers edge to the business over different contenders with progressively employable proficiency and more prominent command over inventories (Pritchard, 2007) It creates more consumer loyalty. The mechanical application can likewise be time and cash putting something aside for the organization by decreasing expense and time of transportation with less mistake and giving better nature of administrations. 5.Application of Radio Frequency Identification is valuable approach to utilize innovation in reinforcing flexibly chain the board. The innovation gives chip to be put in on each item in request to make the following of stock bona fide and dependable (Wisner, Tan and Leong, 2014.). The related perceivability in RFID innovation recognizes in abnormalities and make the activity productive through end of blunders, decrease of cost and rearrangements of flexibly chain as entirety. Better method of actualizing innovation in flexibly chain is fuse of internet based life into the business arranging. The web based life gives greatest social stage to firms to show their promoting procedures and make their products and enterprises known broadly (Christopher, 2016). This aides in building correspondence with clients, makes the results of the organization progressively obvious and realized that upgrades the interest. In addition, internet based life let the business initiate less activity cost and additional time and cost benevolent procedures of promoting and deals. Web based business is likewise an innovation driven channel of business that help the gracefully chain be progressively successful. References: Ahi, P. furthermore, Searcy, C., 2013. A relative writing investigation of definitions for green and practical flexibly chain management.Journal of Cleaner Production,52, pp.329-341. Christopher, M., 2016.Logistics flexibly chain the board. Pearson UK. Green Jr, K.W., Zelbst, P.J., Meacham, J. also, Bhadauria, V.S., 2012. Green gracefully chain the executives rehearses: sway on performance.Supply Chain Management: An International Journal,17(3), pp.290-305. Pritchard, S. (2007). Flexibly Chain Networks: New Sources of Value Creation and Delivery. Ross, D.F., 2013.Competing through flexibly chain the board: making market-winning procedures through gracefully chain associations. Springer Science Business Media. Stadtler, H., 2015. Flexibly chain the executives: A diagram. InSupply chain the executives and progressed planning(pp. 3-28). Springer Berlin Heidelberg. Tayur, S., Ganeshan, R. what's more, Magazine, M. eds., 2012.Quantitative models for flexibly chain management(Vol. 17). Springer Science Business Media. Wisner, J.D., Tan, K.C. what's more, Leong, G.K., 2014.Principles of flexibly chain the board: A fair methodology. Cengage Learning

Economic Factors That Explain Britains Total Domination of India during the First One Hundred Years of British Rule

Presentation Britain’s fundamental point of colonizing different nations was to get crude materials for its enterprises at home and to get markets for their effectively fabricated merchandise. By and large, they planned for building up their homeland with no enthusiasm of the prosperity of the nations they colonized.Advertising We will compose a custom paper test on Economic Factors That Explain Britain’s Total Domination of India during the First One Hundred Years of British Rule explicitly for you for just $16.05 $11/page Learn More They considered India more in bettering their own financial contemplations. Their financial advantages in India started right off the bat in the sixteenth century with the coming of the British East Company. Around then India was managed by the Mughal rulers and they permitted British to enter their nation. The recompense of British to India this named as the start of British control of India’s economy. They were in full control of every one of that was coming out or into the nation. The British overwhelmed India and they fulfilled all their interests1. Conversation Land settlements By the time the British entered India, they had established the British East Company. Through this organization, the British controlled different sides of the country’s economy. Subsequently, they increased more force and they started doing different assignments in the interest of the Mughal head like expense assortment. As the cooperations expanded between the two, the British could join the military in India. Fantastically, what was genuine is that the Indians capital was been fled to Britain. At the point when they started getting a charge out of these opportunities from the Mughal sovereign, they started developing railroads, trenches, streets and urban areas in India. The British’s point in doing this was to draw the thinking about the Indians considerations so they could see the British standard with inspiration . Every one of these systems were planned for building up the British with no advantage to the Indians. The British were in this way completely settled in India and they started achieving their mission.Advertising Looking for exposition on worldwide relations? We should check whether we can support you! Get your first paper with 15% OFF Learn More Growth of delegate enthusiasm for Land As the British settled in India, they were intrigued much on the land. It was rich and they in this manner picked to rehearse horticulture. They broadened their settlement and secured practically all pieces of the nation. They settled for the most part on the good country territories where downpour was sufficient and the dirts were prolific. As they were spreading in the nation they had the option to get familiar with all the highlights in the nation and this later helped them to rehearse agribusiness. Commercialization of Agriculture After the British had spread their settlement in India, they starte d rehearsing horticulture. Their point in doing this was to get crude materials for their nation of origin businesses. Farming was marketed as ranches and bequests were presented. The vast majority of the yields were money crops that were required by the businesses in Britain. As agribusiness developed in India, the wants of the British were been fulfilled while the Indians were been misused economically2. Development of rural workers With increment in horticulture, more workers were required to work in the ranches. The Indians turned into the laborers in the ranches. They were exhausted by the British and they were likewise given low wages that couldn't support them. The British went about as the proprietors of the land utilizing Indians as laborers and this was all out predominance of India by the British. The British were just directors in the homesteads. Obliteration of painstaking work and bungalow ventures The British put forth an additional attempt of conditioning the Indians by gradually getting rid of their way of life. This was done as they once in a while devastated landmarks and books that enhanced the Indian legacy. As they started presenting their own way of life, they were additionally making more opportunity to stay in India henceforth completely abuse them economically3.Advertising We will compose a custom article test on Economic Factors That Explain Britain’s Total Domination of India during the First One Hundred Years of British Rule explicitly for you for just $16.05 $11/page Learn More The old enterprises in India where obliterated as new ones developed with the premiums of the British. The Indians were accordingly visually impaired collapsed and they thought their nation was creating of which it was definitely not. Later after the extraordinary endeavors by the British to draw the Indians, they later found that the Indians despite everything knew their legacy through a portion of the materials that despite everything existed in Sa nskrit language. The British attempted to get this meant English with the goal that they could comprehend. The students were likewise given a bigger number of instances of western than their own Indian models. This consistently planned for facing the students that English was the right. Additional time was made and they kept getting a charge out of gigantic advantages from the Indians4. Channel of riches The British put forth further attempts to cause the youthful personalities to have the possibility that India had no known human progress thus everything was known to originate from the British. Prior the Indians had more noteworthy development that was even recognized by the Europeans who were there before the British. As the fares came out of the nation they were taken to the enterprises in Britain, the abundance of the Indians was in this manner been depleted to Britain. This was a type of strength as the Britain got all the advantages. End The British utilized different methodol ogies to draw the Indians with the goal that they could get sufficient opportunity to build up their motherland. Through their organization, British East Company, they controlled the fares in India and furthermore gathered duties. This organization out decided the Mughal sovereign that was in rule and they got western culture. It was difficult to result the profound Indian legacy however they did it with ability. The Indians believed that they were enduring a direct result of the British however it was bad habit versa5.Advertising Searching for exposition on worldwide relations? How about we check whether we can support you! Get your first paper with 15% OFF Find out More Book index Oxford Business Group. The report: Malaysia 2007. London: Oxford, 2007. Riddick, John. The historical backdrop of British India: A sequence. Pennsylvania: Greenwood Publishing Group, 2006. Print. References Oxford Business Group. The report: Malaysia 2007. London: Oxford, 2007. Oxford Business Group. The report: Malaysia 2007. London: Oxford, 2007. John, Riddick. The historical backdrop of British India: An order. Pennsylvania: Greenwood Publishing Group, 2006. Print. Oxford Business Group. The report: Malaysia 2007. London: Oxford, 2007. Oxford Business Group. The report: Malaysia 2007. London: Oxford, 2007. This article on Economic Factors That Explain Britain’s Total Domination of India during the First One Hundred Years of British Rule was composed and put together by client Andy H. to help you with your own examinations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; be that as it may, you should refer to it as needs be. You can give your paper here.

Launch a Profitable Thriving Dropshipping Store quickly!

Launch a Profitable Thriving Dropshipping Store quickly! Make Money Online Queries? Struggling To Get Traffic To Your Blog? Sign Up On (HBB) Forum Now!Launch a Profitable Thriving Dropshipping Store quickly!Updated On 07/10/2019Author : Pradeep KumarTopic : eCommerceShort URL : https://hbb.me/2sWeg3n CONNECT WITH HBB ON SOCIAL MEDIA Follow @HellBoundBlogDrop shipping is not a new concept, but it is only in the last few years that it has evolved to be a popular, easy and profitable business. With the boom of ecommerce and the emergence of apps like Oberlo, now it’s easier than ever to build up a thriving drop shipping business.Whether your sales are made from a brick and mortar shop or on the virtual internet world, one of the key aspects of a successful retail store is an effectively managed inventory.Skip the Inventory Stocking HeadachesTraditionally, to start a retail business you had to invest a huge amount of money into stocking up your inventory. You needed warehouse space to hoard all these items, and the inventory had to be man aged carefully to maximize the bottom line. Inventory management can turn into a nightmare for many businesses.Messy storage habits can make inventory checks time consuming and frustrating. Stock-outs don’t just mean lost sales; they result in disgruntled customers, negative feedbacks and lowered seller ratings. Under stocking meant not being able to meet customer needs and it can lead to a substantial drop in customer satisfaction. More money gets tied up if you overstock and this also reduces profitability as these products cost more storage space. They may get damaged, or the product may even become obsolete. Obsolete stock is a dead weight that may ultimately sink your business.Now imagine being able to skip all these inventory stocking headaches. This is where drop shipping comes in. It eliminates not just inventory investment and storage headaches, but also the packaging and delivery of goods to the customer. Sounds awesome!Though drop shipping sounds really easy, it has its share of pitfalls which include finding and contacting reliable suppliers, setting competitive, yet profitable pricing and updating the inventory constantly on your ecommerce site. Now if all of these hassles could also be solved by someone else, wouldn’t that be just amazing! If so, then Oberlo surely is a retailers dream come true!Launch Your Drop Shipping Business From HomeOberlo is the ideal tool for those who want to get started with drop shipping without having to struggle through the whole procedure. Oberlo is an app that helps you import products effortlessly from AliExpress directly into your Shopify store and ship them to your customers.It has never been as easy as with Shopify and Oberlo to launch a lucrative drop shipping business. Whether you want to do business from your fancy office room or from your attic Shopify provides you with the best platform to build your ecommerce store and handle payments. They also provide you with the various tools you need to run a s uccessful ecommerce business. The Oberlo app is one such extension you can install on sites built on Shopify, to import thousands of products quickly and easily from AliExpress for drop shipping. With more than a 1000 positive reviews, Oberlo is one of the most popular apps in the Shopify app store.Oberlo is rich with features that are easy to use. The dashboard has a clean well-designed interface for managing products. The menu on the left-hand side offers options for completing a wide variety of tasks like importing lists, setting featured products, searching or viewing your products. The information regarding your products is displayed in a well-organised fashion. You can easily view the inventory, sales, and earnings of each and every product. Huffington Post had made a report on Justin Wong, who made $12K in one month with the help of Oberlo from his Shopify store.Drop Shipping Solutions Made EasyNow, how does Oberlo solve your drop shipping dilemmas? First and foremost it conn ects you with a reliable supplier AliExpress and best of all it auto updates your inventory of chosen products to ensure that you are not out of stock when a customer places an order with you. It has plenty of other features that help you convert sales and make your drop shipping business a great success.Finding and Contacting Reliable Drop Shipping SuppliersFinding and identifying genuine, dependable dropshipping suppliers on the internet can be an exasperating, time-consuming challenge. When you research and make a hope-filled list of potential suppliers, you might find that many of them no longer exist, quite a few of them are scams, and several of the real ones have terrible terms. AliExpress is a colossal marketplace with an extensive selection of products that can be resold in your ecommerce store. Though AliExpress itself is an online retailer, the majority of sellers on AliExpress are overseas manufacturers trading their wares at extremely competitive prices. The best part is that most of them offer drop shipping, they understand that resellers form a major chunk of their revenue stream.Increasing your Conversion RateThe major benefit of drop shipping using AliExpress is that it has millions of product selections from multiple suppliers. These suppliers have their own prices and delivery times. The Oberlo app allows you to easily choose or change your suppliers for any product. You can check out the seller feedback ratings on AliExpress before you finalize on a supplier and if a different supplier comes up with a better offer, you can switch over to that merchant with just a click on the app. This not only gives you a wider choice of unique niche products that make your ecommerce store stand out, but it also provides a backup of your inventory when a supplier runs out of stock. Oberlo not just gives you access to the huge AliExpress product database, its ePacket filter allows you to filter and navigate easily through this colossal marketplace to choo se and import products with the fastest delivery times. Such a unique selling proposition helps to increase your conversion rates. Even if you already sell AliExpress products on your Shopify store, you will find that adding the Oberlo app creates a tremendous jump in your efficiency and sales conversions.READTop 5 tips for buying home appliances onlineAutomatic Inventory UpdatesThere are two huge benefits to this feature. Importing inventory reports and updating your records manually is a lengthy and frustrating job. Oberlo can save you a significant amount of time with its auto-update option. Once you put up your choice of products for sale, the Oberlo software automatically updates the inventory of these products depending on their availability from the chosen suppliers on AliExpress. If your supplier runs out of stock at AliExpress and your inventory does not reflect that, you run the risk of accepting orders you have no way to fulfill. Oberlo can save you from such hassles and negative reviews from customers arising from out of stock scenarios.Product Customization for Sales PromotionEven if you are just reselling products displayed on AliExpress, your product page does not have to have a generic look. Oberlo helps you customize your product offerings to make them stand out from the crowd of competitors. You can write catchy titles, attractive product descriptions with important SEO keywords and add captivating images of the product from various angles. This helps to project your store as a trustworthy and top quality retailer.Setting Competitive and Profitable PricingThe ecommerce world is fiercely competitive with cut throat pricing. It’s not the lowest price that wins over a customer; there are many other factors involved. But having a low price does help you compete better. So when there are better deals available from suppliers, you can also offer a better price to your customers without lowering your profit margin.Oberlo also allows you to set the pricing rules beforehand and the product prices get updated automatically in bulk depending on the margin you have set. If the offer price drops at the suppliers end, Oberlo will notify you in case youd like to adjust your margins. If you want to create special promotions or holiday sales, then you can set the margin accordingly, and the pricing of your entire chosen inventory gets updated at one go.Fulfil and Track Your SalesThis is the best part of using Oberlo as it takes the biggest burden of drop shipping off your shoulders. You don’t have to worry about the storage, packing or shipping of the product. Once you have received an order and the customer’s payment, Oberlo makes it incredibly easy to process and fulfill the order.All you have to do is click “Order Product” on your Oberlo app to confirm that you want to order the same product from your chosen supplier on AliExpress. Oberlo will immediately process the order, and you will be provided with integrated tracking so that you can keep track of the delivery status and pass on the information to the customer, if required. Despite his significant role in the fulfillment process, the drop shipper is invisible to the customer. The customer never comes to know that you have not handled or even seen the product, at any point of the sale. Oberlo makes drop shipping what it should be. Super Easy!The Oberlo dashboard has an option to view and keep track of items you’ve sold and when you sold it. This helps you revise your strategies to improve your sales. You can find plenty of true success stories online, about ordinary people like Allen, a 24-years old student from China who made $800,000 in sales in the last year from his Shopify store. If you need more motivation to get started with drop shipping, check out this terrific video of a recent interview with one of Oberlo’s co-founders.The Secret to Getting Ahead in Dropshipping“If you dont start in the right spot, you are going to lose the game b efore you even get started.” Mike O’Neil Oberlo has already proven itself as the best drop shipping solution in the market. It is the best way to automate your drop shipping business, which in turn, allows you to focus on generating sales and growing your business. Since Oberlo’s launch in September 2015, more than 85 million products have been sold around the world by Oberlo merchants.The innovations in ecommerce like Shopify and drop shipping solutions like Oberlo have now made it easier than ever to launch your own drop shipping business with zero investment. Oberlo has a free plan for those just starting out, and Shopify offers you a free 14-day trial. So don’t wait to start, there’s nothing for you to lose. The only failure is not trying. The secret to getting ahead in drop shipping is to get started with Oberlo.

The Between Culture And Language Arts - 821 Words

The authors of the two chapters built their cases around literacy practices from different prospective and stances. Alverman, a critical literacy specialist emphasized the importance of the popular culture usage as a natural societal connection with their peers in social groups. Other researches such as Paul gee focused also on the importance of reading embedding in social practices. his study seeks to expand the notions of space and composition, and to inform new pedagogies that utilize and respect the beliefs, experiences and practices of urban students. Dr. Alverman invested in the significance of critical literacy and investigated the relation between culture and language arts. Popular culture is a fertile means of social peer`s interaction. Alverman stressed on the fact that educators to enhance students` reading capabilities and achievement can use popular culture. She stated that â€Å"Classroom learning should not be confined to traditional texts,† Her research ration ale about using pop culture in middle and secondary classrooms, in addition to the libraries and media centers, can connect adolescents with based learning and enhance their literacy level through motivation in and out of the classroom. This line of research, which re-examined the literacy notion and the students` literacy experiences outside the school, within popular culture context (Alderman Hagood, 2000) is important as it allows students` demonstration of a broad spectrum of literacy skills in theShow MoreRelatedArt and Human Nature1049 Words   |  5 PagesExploring Art within Human Nature When discussing art it has continuously been examined how much it is applied to human nature. In The Art Instinct by Denis Dutton he spend an entire chapter discussing the colorations between the two. 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If the U.S. expects to continue to be competitive in theRead MoreThe Australian Aboriginals are the Native People of Australia745 Words   |  3 PagesAustralian Aboriginals are natives of Australia and have lived there for many years. The Aborigine people have roamed Australia, the free-flowing land, for years, developing many customs and aspects to an interesting culture: language, body painting, beliefs, laws, music, hunting and art. The Australian Aboriginals are the native people of Australia. They roamed the land for 40,000 years. The Indigenous Aborigines lived as nomads, hunter-gatherers, and â€Å"with a strong dependence on the land and their

The Real Estate Investment Trust Finance Essay - Free Essay Example

Sample details Pages: 18 Words: 5489 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The origins of the real estate investment trust or REIT (pronounced reet) date back to the 1880s. At that time, investors could avoid double taxation because trusts were not taxed at the corporate level if income was distributed to beneficiaries. This tax advantage, however, was reversed in the 1930s, and all passive investments were taxed first at the corporate level and later taxed as a part of individual incomes. Don’t waste time! Our writers will create an original "The Real Estate Investment Trust Finance Essay" essay for you Create order Unlike stock and bond investment companies, REIT were unable to secure legislation to overturn the 1930 decision until 30 years later. Following WWII, the demand for real estate funds skyrocketed and President Eisenhower signed the 1960 real estate investment trust tax provision which reestablished the special tax considerations qualifying REIT as pass through entities (thus eliminating the double taxation). This law has remained relatively intact with minor improvements since its inception. REIT investment increased throughout the 1980s with the elimination of certain real estate tax shelters. Investments in real estate provided investors with income and appreciation. The Tax Reform Act of 1986 allowed REIT to manage their properties directly, and in 1993 REIT investment barriers to pension funds were eliminated. This trend of reforms continued to increase the interest in and value of REIT investment. Singapore REIT commonly referred to as S-REIT. There are currently 20 REIT l isted on the SGX, starting with CapitaMall Trust in July 2002. They represent a range of property sectors including retail, office, industrial, hospitality and residential. S-REIT hold a variety of properties in countries including Japan, China, Indonesia and Hong Kong, in addition to local properties. S-REIT are regulated as Collective Investment Schemes under the Monetary Authority of Singapores Code on Collective Investment Schemes, or alternatively as Business Trusts. S-REIT benefit from tax advantaged status. BACKGROUND OF STUDY Real estate is the worlds biggest business accounting for 15 percent of global gross domestic product (GDP) with assets of US$50 trillion compared with US$30 trillion in equities (Bloomberg, 2004). Moreover more than 50 percent of the worlds total assets are invested in direct real estate and securitized real estate investment vehicles such as real estate investment trusts (REIT) or real estate stocks. In the US, REIT was created by Congress in 1960 to allow small investors to have indirect access to large-scale income producing real estate investment. In Singapore, REIT offers an indirect vehicle for developers with large portfolio of low-yield income producing commercial properties to divest the asset holdings and unlock book values of the assets. This is an exit strategy for some developers to liquidate their equity stake in real estate projects, such as the divestment of Suntec retail mall and office towers via Suntec REIT that ended the joint ownership relationship of the 11 Hong Kong tycoons that initiated the project in 1988. The road to a buzzing REIT market today in Singapore was not smooth-sailing. The idea was mooted back in 1986, when Singapore property market was in doldrums following its first post-independent economic recession in 1985. The idea did not take off, but subsequently interest in REIT was re-ignited in late 1990s when the Monetary Authority of Singapore (MAS) revealed the guidelines for Property Funds in May 1999. The first attempt to launch a REIT was made by CapitaLand with its SingMall Property Trust (SPT) in November 2001, but the listing was aborted due to under-subscription of the new issues. Market timing and lack of tax transparency were cited by analysts as the main causes for the lukewarm response to the maiden S-REIT at the time. (Tien Foo, 2005) In July 2002, SPT was restructured with the same portfolio of three retail properties (Junction 8, Tampines Mall, Funan IT Mall) and re-launched under the new name CapitaMall Trust (CMT). The CMT IPOs were priced at $0.96, which was estimated at 2% discount to NAV compared to the earlier attempt that priced the IPO at 2.7% premium. The re-launch of CMT was a success with 5-time oversubscription, and it has been an important cornerstone in the REIT chapter in Singapore. Ascendas- REIT (A-REIT) was subsequently listed on the Singapore Exchange in November 2002, and it IPO was also over-subscribed by 5 times. As of July 2005, there are six REIT listed and traded on Singapore Exchange, and their details at IPO are summarized in Figure 1. 1.2 PROBLEM STATEMENT In effect, due to the fact that the inputted parameters are unstable, the estimated optimal allocations can differ markedly between periods. This is made even more acute as optimiser typically produce portfolios with extreme holdings in a limited number of assets with some assets taking zero weights while others have very large allocations. Black and Litterman (1992) refer to these as corner solutions. Although the resulting portfolios are optimal in the statistical sense, the results would be unacceptable to any prudent portfolio manager (Jorion, 1985). Such corner solutions portfolios quickly become sub-optimal with changes in the means over time, leading to a further reduction in ex ante performance. In addition such extreme portfolio allocations assets seem to be against the spirit of diversification, Michaud (1989). One way to control for such extreme holdings are to place constraints (upper and lower bounds) on the amount any one asset, or group of assets, can have in the optimum portfolio. Indeed papers such as Frost and Savarino (1988) and Chopra (1993) suggest portfolio optimisations, which are subject to such constraints, have better ex ante performance compared with unconstrained solutions. However, any constraints are likely to be arbitrary, leading to the results being hard to generalise. For example, one possible constrained portfolio is the equally weighted naive portfolio. Morrell (1993), however, argues that that it is generally not possible for property funds achieve equal-weighting in a portfolio and at the same time be represented in key market segments. In addition fund managers typically desire to maintain weights similar to a benchmark portfolio. Also at a practical level due to the indivisibility of property and the marked differences in lot size between say the office and industrial sectors an equal-weighted portfolio strategy would be impossible to implement. Thus an equal-weighted portfolio is therefore probably not a realisti c, or even a desirable goal of fund managers. In addition such an approach fails to tackle the fundamental reason for the major shifts in portfolio allocations over time, the instability in the sample means. In contrast the estimation error in variances and covariances is not as much of concern since these parameters are relatively stable over time and therefore are more precisely estimated. Thus the use of a portfolio selection procedure based on historical parameters that ignores the estimation risk due to the uncertain in mean returns is likely to produce sub-optimal results in subsequent periods. Indeed previous work on the application of MPT to the real estate portfolio shows this to be the case. 1.3 RESEARCH QUESTIONS 1.3.1 Are Economic effect really gives impacts to REIT? 1.3.2 Which Economic effect gives most changes to REIT indices? 1.4 OBJECTIVES OF STUDY Based on the research question, thus, two research objectives were formulated. 1.4.1 To find out whether the macroeconomic variables have impact on REIT performance. 1.4.2 To determine the macroeconomics factor that influenced most on REIT performance. 1.5 SIGNIFICANT OF THE STUDY The main purpose of carrying out this research is to determine the REIT performance and analyze it throughout the macroeconomics variables and how REIT react on it. The group of people who gain the benefit from this study: 1.5.1 Researcher The study gives benefits to colleges people and can be used in their study and references. 1.5.2 Company The research may give important information to the company and corporation who are related in REIT and sectors related to REIT activity for them make decision. 1.5.3 Investor Gives overview and guidelines before they can make decision on investment. 1.6 SCOPE OF STUDY The scope of this study would cover S-REIT index performance within ten years period. The macroeconomics variables that used in this study will be GDP, industrial production output, inflation, money supply, and exchange rate. 1.7 LIMITATION OF STUDY REIT performances are sometimes outperform the stock market. Due to the characteristics of real estate that have high in value, it will give the confident to the investors and increase the demand towards REIT. This kind of demands is tremendous but sometimes it will not following the macroeconomic variables trend. For example, for production variable, the production may not match the demand on REIT and it will gives unusual result in regression. What are the limitations of your study? Here, it seems that you are talking about an issue/problem statement. 1.8 DEFINITION OF TERMS 1.8.1 REIT/S-REIT Real Estate Investment Trust/Singapore REIT 1.8.2 S-REIT index FTSE ST Real Estate Investment Trust Index 1.8.3 GDP Gross Domestic Product 1.8.4 FX Foreign Exchange 1.8.5 M2 Money supply 1.8.6 GNP Gross National Product 1.9 SUMMARY Issuing of REIT is some kind of investment trust that have significant the assets hold are real estate compared to shares. Macroeconomic variables seem effect the REIT performance as well as the stock market, unit trusts, bonds, and other instruments. This study will examine the effects of microeconomic on REIT performance. Few variables are taken to test whether there are significant correlation between the dependent and independent variables. The dependent are S-REIT index and the independent variables are macroeconomic variables. For final report, theres no by chapter summary. Just concluded them and put it under the last topic conclusion. CHAPTER 2 LITERATURE REVIEW INTRODUCTION S-REIT yields have normalized back to a market cap weighted 7.4% FY10 DPU or 480bps over the 10-year bond yield, in tune with long term historical levels. Hence, the S-REIT sector is expected to trade in line with the broader market in 2010 with a projected total return of 15.6%. Balance sheets are now healthier with gearing at 31% and refinancing risks have abated with only 16% of the S-REIT indebtedness due for review next year. At this point, with little prospect of significant asset reflation, we believe that S-REIT are unlikely to favour gearing up much from here. Hence, any capital management exercises to fund new purchases are likely to be smaller and opportunistic in nature. Investors are likely to refocus back on earnings growth potential, driven by both organic and acquisition means as a catalyst for stock performance. PREVIOUS STUDY Islam (2003) conducted the studies in examining the short run dynamic adjustment and long term equilibrium relationships between the Kuala Lumpur Composite Index and the selected macroeconomic variables (interest rates, exchange rates, inflation rates and industrial productivity). His found that the existence of the short runs (dynamic) and the stable long run (equilibrium) relationships between stock returns of Kuala Lumpur stock market and that selected macroeconomic variables by using the monthly data from January 1990 to June 2002. Maysami, Lee and Mohamad (2004) also investigated the relationship between macroeconomic variables (interest rates, industrial production, price levels, exchange rates and money supply) and Singapore stock market index (STI) as well as with various Singapore Exchange Sector Indices (finance index, property index and hotel index). His concludes that the Singapores stock market and the property index form cointegrating relationship with changes in t he short term and long term of the selected macroeconomic variables. Maghyereh (2002) investigated the long-run relationship between the Jordanian stock prices and selected macroeconomic variables, again by using Johansens (1988) cointegration analysis and monthly time series data for the period from January 1987 to December 2000. The study showed that macroeconomic variables were reflected in stock prices in the Jordanian capital market. Reily and Brown (2000), however, complicated the matter a bit by stating that cash flows from stocks can change along with interest rates and it is not certain whether this change in cash flows will augment or offset the change in interest rates. Ibrahim (1999) also investigated the dynamic interactions between the KLSE Composite Index, and seven macroeconomic variables (industrial production index, money supply M1 and M2, consumer price index, foreign reserves, credit aggregates and exchange rate). Observing that macroeconomic variables l ed the Malaysian stock indices, he concluded that Malaysian stock market was informationally inefficient. Omran (2003) focused on examining the impact of real interest rates as a key factor in the performance of the Egyptian stock market, both in terms of market activity and liquidity. The cointegration analysis through error correction mechanisms (ECM) indicated significant long-run and short-run relationships between the variables, implying that real interest rates had an impact upon stock market performance. Chong and Gohs (2003) results were similar: they showed that stock prices, economic activities, real interest rates and real money balances in Malaysia were linked in the long run both in the pre- and post capital control sub periods. Maysami and Koh (2000) examined such relationships in Singapore. They found that inflation, money supply growth, changes in short- and long-term interest rate and variations in exchange rate formed a cointegrating relation with changes in Singapores stock market levels. Islam and Watanapalachaikul (2003) showed a strong, significant long-run relationship between stock prices and macroeconomic factors (interest rate, bonds price, foreign exchange rate, price earning ratio, market capitalization, and consumer price index) during 1992-2001 in Thailand. Vuyyuri (2005) investigated the cointegrating relationship and the causality between the financial and the real sectors of the Indian economy using monthly observations from 1992 through December 2002. The financial variables used were interest rates, inflation rate, exchange rate, stock return, and real sector was proxied by industrial productivity. Maghyereh (2002) investigated the long-run relationship between the Jordanian stock prices and selected macroeconomic variables, again by using Johansens (1988) cointegration analysis and monthly time series data for the period from January 1987 to December 2000. The study showed that macroeconomic variables were reflected in stock prices in the Jordanian capital market. Gunasekarage, Pisedtasalasai and Power (2004) examined the influence of macroeconomic variables on stock market equity values in Sri Lanka, using the Colombo All Share price index to represent the stock market and (1) the money supply, (2) the treasury bill rate (as a measure of interest rates), (3) the consumer price index (as a measure of inflation), and (4) the exchange rate as macroeconomic variables. Mansor and Wan Sulaiman (2001) analyzed the dynamic interactions among three macroeconomic variables (real output, price level and money supply), exchange rates and equity prices in Malaysia. Their findings show that the Malaysian stock prices response more by changes in domestic factors mostly on money supply by exerts a positive effect on stock prices in the short run and negatively associated in the long run. Check your line spacing. 2.2 MICROECONOMICS INDICATORS AND REIT While much works have been done on stock markets and USA REIT, this research provides an alternative perspective on the dynamic relationship between listed real estate market and the macroeconomic. Specifically, we examine whether the expected risk premium on property stocks of Singapore could be linked to the conditional volatilities of a set of principal components derived from six chosen observable macroeconomic variables. Another contribution of the paper stems from the use of a three-step methodological framework in addressing the objectives of the paper. Since property stock combines the investment characteristics of direct real estate and general stock, property stock market return and volatility profiles are likely to be different from those of stock markets (especially) in the long term. Moreover, property stocks are also different from REIT in their organization form, tax status, institutional framework and risk-return performance. Thus, we propose to extend the inquiries of this study to cover major property stock markets and examine the potential impact that macroeconomic risk may have on property stock excess returns. In a preview of our results, we are able to find that the expected risk premium on property stocks of the four markets are time-varying and dynamically linked to the conditional volatilities of the macroeconomic factors. Significant results are obtained from the macroeconomic volatilities as useful predictors for the expected risk premium and their conditional variances. But these significant results depend upon the individual markets involved. THEORETICAL FRAMEWORK Six economic factors are selected to test the relationships of these factors and S-REIT performance. Growth rate in GDP Growth rate in Industrial production output Unexpected inflation Interest rate Growth in money supply Changes in exchange rate I suggest you should exclude this part (2.3) since you will illustrate the framework in Chapter 3. Its redundant. SUMMARY Collectively, the evidence from this study indicates that for all the four markets studied, the six macroeconomic variables, GDP growth, INDP growth, unexpected inflation, money supply, interest rate and exchange rate can be represented by three principal components which are time-varying. In addition, between five and six macroeconomic risk factors are highly correlated with the retained principal components. Furthermore, GARCH and GMM evidence suggests that the expected risk premium and conditional volatilities of the risk premium for the four markets are time-varying and dynamically linked to the conditional volatilities of the three retained principal components (and hence the macroeconomic factors). However the impact of the macroeconomic risk factors on the expected risk premium in terms of direction and significance do vary across the four markets studied. Hence there are opportunities for risk diversification in international property stock markets CHAPTER 3 METHODOLOGY AND DATA 3.0 INTRODUCTION The purpose of this paper is to provide an analysis of the relationship between property stocks and some major macroeconomic risk factors as reflected in the general business and financial conditions. Ten years time period will be used to find the correlation and regression between microeconomic variables and S-REIT performance. 3.1 DATA COLLECTION Data concerning on the macroeconomic variables and the S-REIT performance index were gathered to see whether there are any correlation between them as being the main objective of this study. In completing this study, the researcher will use secondary data. The data are collected from DataStream, related journals, news articles, and views from analysts, comments from professionals, books references, magazines, news paper, investors reports and updates of financial industry reviews. Data means your raw data (the one with figures) and it usually collected by students from the datastream. Those that you get from journals, articles etc. are NOT data. They are information. So, rearrange your sentence to separate between sources of data and information. 3.2 SAMPLING FRAME To secure an acceptable result, this study decided to use S-REIT index within 1999 to 2010. How about your IV? 3.3 SOURCES OF DATA The data on S-REIT performance index will be collected from the Data Stream provided by University of Technology Mara and also related website. The data from all Singapore companies REIT listed within 2000 to 2009 will be used to identify the movements of S-REIT performance index. 3.4 VARIABLES AND MEASUREMENT The variables used in this study can be categorized into two main types which are; the dependent and the independent variables. 3.4.1 Dependent Variables The dependent variable for this study is the Singapore REIT index. 3.4.2 Independent Variables The independent in this study is macroeconomic variables. The macroeconomic variables used in this study are GDP, Money Supply, Inflation, Industrial Production and Exchange Rates and Unexpected inflation. RESEARCH DESIGN This research is designed to explore the relationship between dependent and independent variables. In this study, it engages in hypotheses testing that were explaining the certain significant correlations between economic variables and the decision of going public. 3.5.1 Purpose of the Study The purpose of this study is to determine the relationship between the index of REIT performance and the macroeconomic variables. 3.5.2 Types of Investigation This study involved the correlation types of investigation where the researcher intends to investigate whether the dependent and independent variables have positive or negative relationship. 3.5.3 Unit of Analysis In this study, all the data regarding the REIT performance index and economic variables of Malaysia (Consumer Price Index, Exchange Rates, Money Supply and Industrial Production Index) as a whole were taken to test the relationship between them. 3.5.4 Time Horizon Time horizon of this study is cross-secti onal studies, which the data are gathered just once over a period. This study was used yearly basis data from 2001 until 2009 as a time frame for this study. THEORETICAL FRAMEWORK There is a classical theory that explained the high correlation between the macroeconomic variables and the stock market index. This study tries to look at the possibility of the relationship between the dependent and the independent variables in Malaysia market. Dependent variable: S-REIT Performance Index Independent variables: Gross Domestic Product, Inflation, Exchange Rates (US$/RM), Money Supply (M2) and Industrial Production Index, Interest rate. Below is the schematic diagram to show the relationship between the relationship between the dependent and independent variables: Figure 2: Schematic Diagram (Relationship Diagram) GDP Inflation Exchange Rates Money Supply REIT Performance Index Industrial Production Index Interest rate Independent Dependent According to the schematic diagram above, it can be elaborated that the performance of S-REIT index are determine by the GDP, inflation, exchange rates, money supply, iInterest rate and ind ustrial production index. The dependent variables will reflect in any changes in independent variables. Recheck your spelling and grammar. Make sure they are past tense since youve completed your study. 3.7 DATA ANALYSIS AND TREATMENT The statistical tools use in the study is Multiple Linear Regression Model. This model was examined the real-time effects of several independent variables towards dependent variable that is interval scaled. Multiple linear regression analysis aids in understanding how much of the variance in the dependent variable is explained by a set of predictors. This type of analysis is also done to trace the sequential previous that cause the dependent variable through path analysis. This model is more appropriate to be used since it can explain the correlation between the dependent and independent variables much better. SPSS Software was used to generate the result from the data that have been collected. Multiple Linear Regression Model: (Equation 1) Where; Y = Dependent variable which represent S-REIT index = The constant number of equation = Coefficient Beta value = Growth rate in GDP = Growth rate in Industrial production output = Inflation = Interest rate = Growth in money supply = Changes in exchange rate = Error 3.8 HYPOTHESIS STATEMENT Hypothesis 1 H0: Growth rate in GDP has no relationship with S-REIT movements H1: Growth rate in GDP has a relationship with S-REIT movements Hypothesis 2 H0: Growth in money supply has no relationship with S-REIT movements H1: Growth in money supply has a relationship with S-REIT movements Hypothesis 3 H0: Inflation has no relationship with S-REIT movements. H1: Inflation has a relationship with S-REIT movements Hypothesis 4 H0: Changes in Exchange Rate has no relationship with S-REIT movements H1: Changes in Exchange Rate has a relationship with S-REIT movements Hypothesis 5 H0: Growth rate in Industrial production output has no relationship with S-REIT movements H1: Growth rate in Industrial production output has a relationship with S-REIT movements Hypothesis 6 H0: Interest rate has no relationship with S-REIT movements H1: Interest rate has a relationship with S-REIT movements SUMMARY In the nutshell, this chapter will provide the research design that will be used in this study. The study aims to determine the relationship between economic factors with the index movements of S-REIT. This research will be done in accordance to the objective where to know whether there is any significant relationship between the economic factors with the timing and the decision of the investors who willing to get into S-REIT. Since study focuses on the data from 1999 until 2009, if would give a better picture on the decision and timing of buying S-REIT and using this information for gaining future return as well. CHAPTER 4 FINDING AND ANALYSIS INTRODUCTION As mentioned in the previous chapter, the objective of this study is to determine the significance correlation between the macroeconomics variables and the S-REIT performance. In addition, the study also tends to identify which macroeconomic factors that have a relationship with the index. Multiple linear regression is one of the useful method to examine the relationship between independent and dependent variables. In testing the hypotheses, the tests have been run for both dependent variables (S-REIT index) and independent variables GDP, Inflation Rate, Exchange Rate, Money Supply, Industrial Production Index and Interest Rate. 4.1 MULTIPLE LINEAR REGRESSION ANALYSIS OF S-REIT AND MACROECONOMIC VARIABLES (January 2000 June 2010) The data have been converted into rate [X= (P1 P0) / P0] and be regressed in order to get the solid model to explained the conclusion derive from the analysis. Table 4.1: Multiple Linear Regression of S-REIT index (2000-2010) Coefficientsa Model Unstandardized Coefficients Standardized Coefficients T Sig. B Std. Error Beta 1 (Constant) 2.959 2.419 1.223 .229 GDP -4.480E-5 .000 -1.457 -2.569 .015 MONEYSUPPLY 2.130E-6 .000 .937 2.277 .029 INFLATIONRATE -.095 .032 -.304 -2.978 .005 FOREX .898 .512 .341 1.755 .088 IND.PROD .011 .013 .263 .898 .375 INT.RATE .799 .139 .767 5.743 .000 a. Dependent Variable: SREITINDEX Table 4.1 shows the model summary of S-REIT index and the selected macroeconomic variables. Before analyzing all the data above, residual analysis on that model has been tested to ensure that the model will meet all the assumptions in multiple regression method. 4.2 FINAL FINDING OF MULTIPLE LINEAR REGRESSION OF S-REIT INDEX Table 4.2: Final Model Summary of S-REIT index (2000-2010) Model Summaryb Model R R Square Adjusted R Square Std. Error of the Estimate Change Statistics R Square Change F Change Sig. F Change 1 .906a .821 .791 .23921 .821 26.792 .000 Predictors: (Constant), INT.RATE, GDP, INFLATIONRATE, FOREX, IND.PROD, MONEYSUPPLY b. Dependent Variable: SREITINDEX Table 4.3 shows the model summary of S-REIT index and the selected macroeconomic variables. From the table above, it shows that adjusted R2 is 0.791 in which represents the total amount of variance in the population. The value of adjusted R2 can be interpreted that only 79.10 percent of variability of data regressed can be explained between the independent and dependent variables. In this case, it can be concluded that GDP, Inflation Rate, Exchange Rate, Money Supply, Industrial Production Index and Interest Rate were explained 79.1% of the variance in S-REIT index. It also explained by adjusted R2 that there are strong correlations between the variable s since the adjusted R2 is above 50%. Then, the Analysis of Variance (ANOVA) test has been conducted again to test the null hypothesis that several groups mean are equal in the population by comparing the sample variance estimated from the group means to that estimated within the group. Below is the hypothesis of this model: H0: None of the 6 independent variables GDP, Inflation Rate, Exchange Rate, M2, Industrial Production Index and Interest Rate will significantly explain the variance in S-REIT index. (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1=ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2=ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3=ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 = 0) You mentioned that you have 6 IVs H1: The 6 independent variables of GDP, Inflation Rate, Exchange Rate, M2, Industrial Production Index and Interest Rate will significantly explain the variance in S-REIT index. (At least one of  Ãƒâ€šÃ‚ ¢ is not equal to zero) After the test that has been conducted, the null hypothesis (H0) will be rejected if the p-value 0.05. The F-signifi cant value (p-value) stands at 0.0000, which shows that the model is significant with 99 percent confidence level. The finding shows that this test will reject the null hypothesis. Means that, at least one of the  Ãƒâ€šÃ‚ ¢ is not equal to zero. Thus, following findings and analysis will interpret the result for the independent variables and test on the hypothesis. Table 4.3: Final Coefficient of Multiple Linear Regression Analysis Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 2.959 2.419 1.223 .229 GDP -4.480E-5 .000 -1.457 -2.569 .015* MONEYSUPPLY 2.130E-6 .000 .937 2.277 .029* INFLATIONRATE -.095 .032 -.304 -2.978 .005* FOREX .898 .512 .341 1.755 .088 IND.PROD .011 .013 .263 .898 .375 INT.RATE .799 .139 .767 5.743 .000* a. Dependent Variable: SREITINDEX Table 4.3 r epresents the result from multiple linear regression analysis of S-REIT index from year January 2000 to June 2010. It reports the coefficient values for each independent variable that has been regressed against the S-REIT index. The test has been conducted to test the H0 of the S-REIT index and the selected macroeconomic variables. The H0 will be rejected if the p-value 0.05. Hypothesis 1 H0: Growth rate in GDP has no relationship with S-REIT movements Looking the analysis between S-REIT index and GDP (table 4.3), it is found that the t-significant value stand at 0.015, which is significant. The finding hereby rejects the null hypothesis for GDP. It also explained that there is significance correlation between GDP and S-REIT index. Hypothesis 2 H0: Growth in money supply has no relationship with S-REIT movements Based on analysis between S-REIT index and Money Supply (table 4.3), this study found that there is significant correlation between S-REIT index and Money Supply, which is the t-significant value stand at 0.029. The finding shows that this study will reject the null hypothesis for exchange rate. It explained that there is relationship between Money Supply and S-REIT index. Hypothesis 3 H0: Inflation has no relationship with S-REIT movements Based on analysis between S-REIT index and Inflation (table 4.3), this study found that there is significant correlation between S-REIT index and Inflation, which is the t-significant value stand at 0.005. The finding shows that this study will reject the null hypothesis for Inflation. It explained that there is correlation between Inflation and S-REIT index. Hypothesis 4 H0: Changes in Exchange Rate have no relationship with S-REIT movements Based on analysis between S-REIT index and exchange rate (table 4.3), this study found that there is no significant correlation between S-REIT index and Exchange Rate, which is the t-significant value stand at 0.088. The finding shows that t his study failed to reject the null hypothesis for Exchange Rate. Hypothesis 5 H0: Growth rate in Industrial production output have no relationship with S-REIT movements Looking the analysis between S-REIT index and Industrial production output (table 4.3), it is found that the t-significant value stand at 0.375, which is not significant. The finding hereby failed to reject the null hypothesis for Industrial production output. It also explained that there is no significance correlation between Industrial Production Output and S-REIT index. Hypothesis 6 H0: Interest rate has no relationship with S-REIT movements Looking the analysis between S-REIT index and Interest rate (table 4.3), it is found that the t-significant value stand at 0.000, which not significant. The finding hereby rejects the null hypothesis for Industrial production output. It also explained that there is significance correlation between Industrial Interest rate and S-REIT index. 4.4 LINEAR EQUATION Ye = 2.959 0.00004480(GDP)* + 0.000002130(MS)* 0.095(INF.R)* + 0.898(FX) + 0.011(IND.P) + 0.799(INT.R)* (t-value) (-2.569) (2.277) (-2.978) (5.743) Significant at 95% confident level Y = Dependent variable which represent S-REIT index DGP = Gross Domestic Product MS = Money Supply INF.R = Inflation Rate FX = Exchange Rate IND.P = Industrial Production INT.R = Interest Rate * sig. From the equation above, it can be said that GDP has inverse relationship with S-REIT index. These results are explained that when the GDP increases, then the S-REIT index will decrease. Decrease of GDP by 1 % in show an increase on S-REIT index by 0.00004480% when holding other variables constant. But contra with Kim Hiang Liow, Muhammad Faishal Ibrahim and Qiong Huang (2005) the stock market have positive relationship with GDP. Previously in chapter 1, it was highlighted that properties have value that increasing that can over perform the stock market. It is unnecessari ly that the trend of S-REIT will follow the GDP. S-REIT also contains the real property outside of Singapore such as Malaysia, Vietnam, China, Indonesia and others. It will not necessarily will relate to Singapore GDP or other variables directly. Money Supply has positive relationship with S-REIT index. From the equation, when Money Supply increases by 1%, S-REIT index will increase 0.000002130% when holding other variables constant. Inflation Rate has negative relationship with S-REIT index. From the equation, when Inflation Rate increases by 1%, S-REIT index will decrease 0.095% when holding other variables constant. Interest Rate has positive relationship with S-REIT index. From the equation, when Interest Rate increases by 1%, S-REIT index will increase 0.799% when holding other variables constant. CHAPTER 5 CONCLUSION AND RECOMMENDATION CONCLUSION The paper has examined the relationship between S-REIT index with GDP, Inflation Rate, Exchange Rate, Money Supply, Industrial Production Index and Interest Rate. The study were employed the quarterly data and used multiple linear regression method to test the relationship between the dependent and independent variables. The results found that there are strong correlations between the S-REIT indexs with the selected macroeconomic factors. It means that, there are other factors that affect the performance of S-REIT rather than the six (6) selected economic factors. From this study, it can be conclude that the S-REIT performance in the strong form efficient market hypothesis seems the S-REIT performance are not fully reflected with all information from public and private sources that included the information about economic events in Singapore. Specifically, GDP, Money Supply, Inflation Rate, and Interest Rate were significantly related with S-REIT performance. It means that, any c hanges in GDP, Money Supply, Inflation Rate, and Interest Rate it seems to reflect the changes in S-REIT indexs. The past studied also found there are strong relationship between exchange rate and money supply towards the performance of stock market index. Maysami, Lee and Mohamad (2004) found the co-integrating relationship between exchange rates and money supply in Singapores stock market in their past studied. While, Islam (2003) proved that there are short run and long run relationship between stock returns of Bursa Malaysia stock market with interest rates, inflation, exchange rate and industrial productivity. 5.1 RECOMMENDATION As a recommendation, it seems there are opportunities to other students to further study on the relationship between S-REIT index and macroeconomic variables. The future researcher is suggested to measure the relationship between stock market index and the economic factors by using other method rather than use multiple linear regression method. There are also suggested by other past researchers in the similarly research that co integration analysis and Error Correction Method it seems to give the robust result and will give the deep explanation of the relationship between the stock market index and macroeconomic factors. (Islam (2003), Mansor and Hassanuddeen (2003). Other than that, it also recommended to the future researcher to add other macroeconomic variables such as Consumer Price Index (CPI) and Unemployment Index in examining the relationship of economic factors with stock market index.

Manage Personal Work Priorities and Professional Development

Introduction: I am the Marketing Manager of Gloria Jeans Coffees, responsible for planning, implementing and monitoring marketing activates within the business. In this report I will first explain how I would establish personal work goals, set and meet my own work priorities and develop and maintain professional competence. 1. Establish Personal Work Goals List Responsibilities of position: * Produce annual planning for the marketing and public relations activities of Gloria Jeans showing initiative in developing new markets, retaining current markets and implementing new tactics in regard to selling and promoting Gloria Jeans. * In consultation with the CEO have responsibility for public relations, image and†¦show more content†¦Action Plan: Below is the action plan I would use in order to acquire the new skills I need to learn in order to be a competent Marketing Manager. Action | Where | Who | Time Frame | Time Management Training | On site – Gloria Jeans Head Office | Paramount Training | December 2011 | Creating Excellent Communicators Course | Sydney Campus | NIDA | December 2011 | Manage Projects Course | Ultimo Tafe | NSW Tafe | June 2012 | Basic Accounting and Budgeting Course | Ultimo Tafe | NSW Tafe | March 2012 | Certificate 2 in Chinese | Ultimo Tafe | NSW Tafe | December 2012 | Conclusion: Therefore through setting specific work goals and stating how I wouldShow MoreRelatedManage Personal Work Priorities And Professional Development Essay1860 Words   |  8 PagesManage Personal Work Priorities and Professional Development Assessment 2 1. Choose a management level ‘aspired job’ that you aspire at your workplace. This can be a supervisor or manager position in your department or work organisation. Introduction: I am working as sale supervisor which is responsible for all South regions in Vietnam at KDK Company. 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Back up your qualities and strengths. 3. Sell yourself. 4. Update your resume regularly. TASK B: UP-TO-DATE_RESUME TASK C: PEER REVIEW |Peer’s Name: |Katy Smith |Phone Number: | Read MoreBsbwor501A Manage Personal Work Priorities and Professional Development6867 Words   |  28 Pages | |Manage personal work priorities and professional development | |This unit describes the performance outcomes, skills and knowledge required to manage own performance and professional development. Particular | |emphasis is on setting and meeting priorities, analysing information and using a range of strategies to develop further competenceRead MoreAssessment Manage Personal Work Priorities And Professional Development BSBWOR501B3406 Words   |  14 PagesCRICOS Code 03208D Level 4, 56-58 York Street, Sydney NSW 2000 Australia Tel: +61 2 92794949 Email: info@georgebrown.nsw.edu.au Web: www.georgebrown.nsw.edu.au Assessment Manage Personal Work Priorities and Professional Development BSBWOR501B Student Name Student ID Term Year Class Trainer Name Result NYC C I declare that all work completed in this assessment is my own. Student Signature Date Contents Assessment guidelines ...................................................................Read MoreBsbword501B - Manage Personal Work Priorities and Professional Development - Assessment1333 Words   |  6 PagesBSBWORD501B – Assessment Manage Personal Work Priorities and Professional Development 1. Describe what it means to be a model of good personal work planning and organisation. Include definitions. Being a model of good personal work planning and organisation entails setting good examples which are consistent and visible for others to follow. Personal work planning includes documents which identify what needs to be completed, to what standard, in what order and by when, is used in conjunctionRead MoreBSBWOR501A – Manage personal work priorities professional development804 Words   |  4 Pages(Miranda) Perform research on the topic of personal work planning. In your own words, explain the importance of creating and maintaining personal work plans. If you are not working, but are part of an association or know of an organisation, please answer the question accordingly. A work plan is an outline of a set of goals and processes by which a person can accomplish those goals, offering the reader a better understanding of the scope of the project. Through work plans, you break down a process intoRead MoreEssay on Manage Personal Work Priorities and Professional Development1000 Words   |  4 PagesAssessment tool 2 (AT2): Written/oral questions Students should answer the following questions in writing. 1. Good Managers know which tasks contribute to their personal effectiveness and thus the organisations success. What role does planning play in ensuring they achieve them? Planning allows management to identify the goals and milestones required to produce outcomes that align to the objectives of the organisation. It also allows for commitment to timeframes when identifying objectivesRead MoreBsbwor501 Manage Personal Work Priorities and Professional Development Assessment 21247 Words   |  5 PagesBSBWOR501 MANAGE PERSONAL WORK PRIORITIES AND PROFESSIONAL DEVELOPMENT ASSESSMENT 2 - WRITTEN ASSESSMENT 28/04/2016 Answers: The best way to serve as a role model at workplace is to either have a clear, defined and organised work method and interact successfully with colleagues at all levels. For example a good role model will always organise his work by setting goals, managing time effectively and sharing his personal experience with others, he will also encourage them. Microsoft Outlook

Audit Committee Financial Expertise and Earnings Management

Question: Discuss about the Audit Committee Financial Expertise and Earnings Management. Answer: Introduction: The below discussion reflects the application of view in terms of accounting and auditing. The manner in which the audit provisions is applied by the auditor as well as the management while preparing the books of accounts and verifying the records has been prescribed below: This approach states that, while assessing the books of accounts, the first thing which is assessed is that the relevant accounting standards have been followed or not in preparation of accounts. The basis of accounting is acceptable or not is checked by assessing the policies followed by the entity (Hayes, 2014). It can be said that the first part of the view that one lobe of the brain wants to study facts and test hypothesis on them is related to accounts of an entity. As the facts, that is the data of the entity for a certain period is analysed in accordance with the data available. The other part of the view is related in a manner that accounts are prepared as per the standards unless any circumstance arises, in which books of accounts will be present more true and fair view in case standard is not followed (William and et.al. 2016). According to the analysis, it could be said that while preparation and assessing accounts, a setup is present in mind that books of accounts should be in accordance with the standard and at the same time a part of the mind is analysing the other factors due to which the standards could not be followed (Kennan and et.al, 2014). The auditor has to form an opinion, on the basis of his view in respect to books of accounts of an entity. According to the above concept, the audit of every entity is done with a mind set up that everything will be in accordance with standards and not that errors will be surely found (Lisic and et.al., 2015). But at the same time while assessing the books or records, if any abnormal transaction or data is received than detail analysis is done. The opinion and method of auditing are dependent on the quality of internal control and quality of data available to the entity. The presence of unreasonable transactions derives mystic symbol and analogies in their respect (Pitt, 2014). It has its impact on other transactions also, as once the suspicion arises, the auditor will think twice even if the transaction are acceptable. It can be possible in case; the management is neither allowing communicating with the creditors for verification of their balance nor itself communicating with them for getting confirmations. The opinion formed by an auditor is based on the circumstances present before him after completion of the assessment of complete books of accounts. It cannot be judged by verifying a part of books of account or on the basis of the opinion of the previous year. The relationship between the auditor and management is necessary for the audit. Audit cannot be concluded with efficiency and ease in case a strong bond between the two is not present; the same has been discussed here: The financial statements are the responsibility of management and not of the auditor. The auditor is responsible for expressing an opinion in accordance with availed evidence (Thompson, 2013). It is the responsibility of management to adopt sound accounting policies, maintain internal control and to present financial statements in conformity with generally accepted accounting principal. It is the duty of the auditor; to plan and perform the audit to express an opinion regarding financial statements of an entity. The information and data relating to assets and liabilities, equity and other are under the control of management. The knowledge of internal control and assertions of management are available to the auditor to a certain extent only. The nature of audit is such that it cannot be performed without the assistance of management. As at every step i.e. in evaluating the environment of the entity, known facts and data of a transaction, information is taken from management only (Tricker, 2015). The trust is the basis for which the auditor uses the information made available by them. In the case of weak internal control, it is not present; thus, in that case, sufficient appropriate evidence is availed from sources outside the management as banks or customers. In case, once a suspicion has arisen regarding the details provided by management, it affects all the previous information on which auditor trusted (Westphal and Zajac, 2013.). It might even change the opinion of the whole audit, and the situation regarding revision of the whole audit could also arise. Thus, it can be said that the statement Trust takes years to build, seconds to break and forever to fix perfectly matches to the relation of management and auditor. As in case once it is developed on the basis of previous information supplied by the management and one wrong information gets all the previous information into suspicion. It is not possible for an auditor to trust again as he knows the importance of his opinion. The representations made by management are assessed in a different view, once the trust is broken (William and et.al. 2016). In case the amount of trust is sufficient on management the certainty of detail investigation is less, as the auditor has a belief that the information supplied by the management is appropriate. The audit is done according to the facts and data made available by the management. All the confusions are resolved through discussions with management only. In case the trust is not present it is not possible for an auditor to express an appropriate opinion because the base of audit i.e. trust is not present (Garran and O'Sullivan ,2013). Analytical procedure and detail investigation are done in case the auditor is having doubt regarding the data made available by management and it that situation chances of clear opinion are reduced and disclaimer opinion are increased. The stronger the bonding, the easier the procedure of audit as all details availed is assumed to be correct in the case when no suspect has arisen. The history of Martin Shkreli has been provided with details regarding the companies of which he was a part. The major changes faced by the company under his management has been provided in this part. Martin Shkreli is an American entrepreneur and pharmaceutical executive. He is co-founder and former CEO of Retrophin and Turing Pharmaceuticals. A widespread criticism was faced by him during September 2015 for when Turing obtained a license for drug Daraprim which raised the price of the drug from the US $ 13.5 to the US $ 750 per tablet (EVERYTHING YOU KNOW ABOUT MARTIN SHKRELI IS WRONGOR IS IT? 2015). He was invited on federal charges by FBI for securities fraud and was replaced with Ron Tiles by the board of Turing Pharmaceuticals. In may 2014 when shkreliwas part of Retrophin, the price of drug Thiola raised from $ 1.5 to $30 per pill (Carrier and et.al 2016), it was considered as almost conscious hike in the price of a tablet but even after his resignation, the price was not decreased rather an alternative tablet was launched against it for the same disease. Even a lawsuit of big amount approx sixty-five million dollars was filed against him for breaching his duty of loyalty in a long-running dispute over the use of funds of the company. After departure from Retrophin, he founded Turing Pharmaceuticals and set a business strategy to obtain a license on out- of- patient medicines and revalue the price of each without developing and bringing its own medicine to the market. The price of Daraprim as state above was increased and keeping with the revaluation strategy for pricing, tightly controlled distribution methodology was adopted by the company. The statutory compliance which was not followed by him and the complaints against him regarding not following the basic principals while performing his obligations have been discussed here: Corporate Governance is a framework of rules, process and relationship by which authority is controlled and exercised in corporations. Its structure establishes the role of the board and senior executives in eight principals (Erkens and et.al., 2012). All the rules have equal importance. Principal 2.deals with the basic need for integrity among board and senior executives who can influence the strategy and financial performance of company along with ethical decision making which is not only a legal obligation but also of the importance of stakeholders. The above discussed data is included in corporate governance statement in the annual report of the company (APPC "Audit Quality in Australia", 2012). According to Securities and Exchange Commission complaint was filed against Shkreli for playing a role as a portfolio manager for funds named as MSMB Capital Management of LP and MSMB Healthcare LP. He misappropriated the funds of the company by lawfully paying for food, clothing and medical expenses amounting $ 120000. The investors and prospective investors of MSMB management were misled by him that returns have been +35.77% when the same have been -18%( Clarke and Friedman, 2016). Many complaints have been filed against him for misleading the investors and for taking unethical decision for stakeholders. He has been charged with violating section 17(a)1 and 17(a) 2 of Securities Act 1933and section 10(b) of Securities Exchange Act 1934 (SEC Charges Martin Shkreli With Fraud, 2015). The base with its importance which should be created before initiating audit has been provided in this part.The implication to face in case of not following the ethical and auditing standard have been discussed. Analysis and research regard the effect of planning before execution of audit have been done for providing the better presentation. If I had eight hours to chop a tree, I would spend six in sharpening my axe the sharpening of the axe in context to auditing and auditors is the role of planning and execution in the audit. The execution can be successful only in case the things are made clear before its execution which can be possible only with strong planning. It is necessary because if planning is not done in an appropriate manner, the goal cannot be reached as the way to it will be full of obstacles (Wong and Millington, 2014). The audit standard applies to an audit of financial statements in accordance with corporations act 2001 and for any other purpose. It is the responsibility of auditor to develop a strategy for engagement of audit plan which includes assessment of important areas, resolve potential errors on a timely basis. If planning is done before execution of audit, the audit is performed in efficient and effective manner. It includes assessing the major areas of the entity, selection of appropriate members. According to ASA, 200 procedures should be performed to continue client relationship. An overall strategy should be prepared according to this SA to identify and explain the scope of the audit. The strategy regarding nature of communication required during the planning stage for proper execution of data and information delivery to the team members (Audit quality - The role of directors and audit committees, 2013). The Australian auditing standards are to be applied while auditing financial statements of an entity by the auditor. The overall objective of an auditor with its scope is dealt by this ASA. The objective of the audit is to increase the confidence of the user of the report. The same is achieved by giving an opinion regarding the true and fair status of the company in reference to financial statements (Brasel and et.al. 2016). The skills required to perform an audit in an efficient manner are professional judgement and professional scepticism. Professional judgement can be said as knowledge regarding ethical standards of auditing and experience within context to auditing and accounting which will help in taking effective decisions, As audit involves inherent risk and detective risk both, to associate transaction in relation to the risk it is necessary that explanation should be given to whole audit team in planning procedure (Auditing Standard ASA 200 Overall Objectives of the Independ ent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards, 2013). The auditor has to conduct an audit in accordance with Australian Accounting Standards. Hence it has to discuss information with the team regarding the relevant standard to the entity(Alzeban and Sawan,2016). If a strong base is created at the planning stage, it is easier to achieve the objective. Hence according to the saying, of the total time available a major part is invested in planning for efficient execution of work and also for accomplishing the objectives of the audit. References Hayes, R.M. 2014. Discussion of Audit committee financial expertise and earnings management: The role of status by Badolato, Donelson, and Ege (2014). Journal of Accounting and Economics. 58(2).Pp.231-239. Kannan, Y.H. and et.al. 2014. The impact of CEO and CFO equity incentives on audit scope and perceived risks as revealed through audit fees. Auditing: A Journal of Practice Theory. 33(2).Pp.111-139. Lisic, L.L. and et.al. 2015. CEO Power, Internal Control Quality, and Audit Committee Effectiveness in Substance Versus in Form. Contemporary Accounting Research. Pitt, S.A. 2014. International standards for the professional practice of internal auditing. William Jr and et.al. 2016. Auditing and Assurance Services: A Systematic Approach. Auditing and Assurance Services: A Systematic Approach. Ghafran C. and O'Sullivan N. 2013. The governance role of audit committees: reviewing a decade of evidence. International Journal of Management Reviews. 15(4).Pp.381-407. Thompson, R.M. 2013. A Conceptual Framework of Potential Conflicts with the Role of the Internal Auditor in Enterprise Risk Management. Accounting and Finance Research. 2(3). Pp65. Tricker, B. 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA. Westphal, J.D. and Zajac, E.J. 2013. A behavioural theory of corporate governance: Explicating the mechanisms of socially situated and socially constituted agency. The Academy of Management Annals. 7(1). Pp.607-661. William Jr and et.al. 2016. Auditing and Assurance Services: A Systematic Approach. Auditing and Assurance Services: A Systematic Approach. APPC "Audit Quality in Australia". (2012). [Online]. Available through https://www.frc.gov.au/documents/publication/appc-audit-quality-in-australia-2014/. [Accessed on 13th September 2016] Carrier, M.A. and et.al, 2016. Using Antitrust Law to Challenge Turing's Daraprim Price Increase. Berkeley Technology Law Journal, Forthcoming. Clarke, C. and Friedman, H.H. 2016. 'Maximizing Shareholder Value': A Theory Run Amok. i-Manager's Journal on Management. 9(4). P.45. Erkens, D.H. and et.al.2012. Corporate governance in the 20072008 financial crisis: Evidence from financial institutions worldwide. Journal of Corporate Finance. 18(2). Pp.389-411. EVERYTHING YOU KNOW ABOUT MARTIN SHKRELI IS WRONGOR IS IT?. (2015).[Online]. Available through https://www.vanityfair.com/news/2015/12/martin-shkreli-pharmaceuticals-ceo-interview. [Accessed on 18th September 2016] SEC Charges Martin Shkreli With Fraud. (2015). [Online]. Available through https://www.sec.gov/news/pressrelease/2015-282.. [Accessed on 13th September 2016]. Alzeban, A. and Sawan, N. 2016. The Relationship between Adherence of Internal Audit with Standards and Audit Fees. Journal of Financial Reporting and Accounting. 14(1). Brasel, K.R. and et.al. 2016. Risk disclosure is preceding negative outcomes: The effects of reporting critical audit matters on judgments of auditor liability. The Accounting Review. Wong, R. and Millington, A. 2014. Corporate social disclosures: a user perspective on assurance. Accounting, Auditing Accountability Journal. 27(5). Pp.863-887. Audit quality - The role of directors and audit committees. (2013). [Online]. Availablethrough https://asic.gov.au/regulatory-resources/financial-reporting-and-audit/auditors/audit-quality-the-role-of-directors-and-audit-committees/. [Accessed on 13th September 2016] Auditing Standard ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards. (2013). [Online].Available through https://www.auasb.gov.au/admin/file/content102/c3/Nov13_Compiled_Auditing_Standard_ASA_200.pdf. [Accessed on 13th September 2016]

Thedore Roosevelt Essays - Sons Of The American Revolution

Thedore Roosevelt Twenty-sixth U.S. president. Born October 27, 1858 in New York City (fifth cousin of Franklin Delano Roosevelt). A strong nationalist and a resourceful leader, Theodore Roosevelt gloried in the opportunities and responsibilities of world power, and during his years in office he greatly expanded the power of the presidency. He especially enlarged the United States role in the Far East and Latin America. At home he increased regulation of business, encouraged the labor movement, and waged a long, dramatic battle for conservation of national

Citezenship essays

Citezenship essays To many people a good U.S. citizen should be one who obeys all the laws established. To some, a patriotic person could be a good citizen. Of course not all people think the same thing. Everyone has the potential to be a decent U.S. citizen. All people could be an awesome citizen of the United States. In my personal opinion there is no such thing as a good U.S. citizen. I think that everybody living in the States has the potential to be a good citizen. Everybody breaks a law at some point in there life. Whether it be a small offense such as, going five miles over the speed limit or something to the extreme such as arson. This does not affect whether or not you are a good citizen, this just determines whether or not you are a good person. A veteran of the Korean War would be a prime example of being patriotic. Not only were they willing to fight for freedom but willing to put their lives in danger for their country. This does not mean they are the best candidate for citizen of the year. It means they are brave and willing to put their life on the line for the sake of other people. This person may have no knowledge of the history of the country they are fighting for. But who is to say they are bad citizens. Charles Manson could be another prime example. He killed a number of people over a matter of years while at the same time gaining followers who in turn did the exact same thing he had previously done. Does that make him a bad citizen? It definitely makes him an extremely bad person but not necessarily a bad citizen. This does not justify the morbid things he had done it simply states that he may not be a bad citizen. Charles Manson could have been the biggest history buff of anyone, yet again who can say he is a bad citizen. For the last example I will use myself. I am a patriotic person, not necessarily as much as some other people but I am none the less. Yet I have gone a couple miles over the sp ...