Literature Review of Value at Risk Essay Example | Topics and Well Written Essays - 750 words

Literature fall over of look upon at risk of infection - Essay ExampleModern financial institutions are careful to floor the risk in relation to the magnitude of the asset and are careful to assess the directs of risk apparent(a) from the credit quality of the company and the risk caused by the particular product. ( Hsaio 2008) .Modern Credit Risks are no longer defined by outright exposure and are currently calculated by a popular method of the Value at Risk ( volt-ampere)This method estimates the maximum amount of sack assertable in a portfolio subject to authoritative periodic intervals and has its advantage of being comparative in nature, i.e it get out allow the financial institutions in question to allocate capital more efficiently.(Chance 1979).These methods employ the risk level models of capital , which are used to estimate the profitability of capital, like the risk-adjusted capital (RORAC) or risk-adjusted return on capital (RAROC) and such models today play a p ivotal rile in the management of risks indwelling in the management of financial institutions.In credit risk calculation VaR or Value at risk is a mavin numerical estimate which is an indicator of the possible maximum loss of a portfolio over a given time horizon at a certain reliance level.This methodology developed as a response to the financial disasters in the decade of the 1990s and sacrifice obtained an increasingly important role in risk management ( commercialise, credit and operational).The attraction of using VaR for credit risk assessment thus lies in the fact that it is able to provide a single quantity that states the overall market risks faced by an institution. The criticisms have however stemmed from a recognized lack of coherence in the VaR methods and its failure to account for losses beyond a certain level and does not give due credit to the advantages of diversification by not taking into account sub-additivity.Various VaR models currently dominate the liter ature.These include the historical or (empirical) approach (see Van Der Vaart 1998),the Gaussian approach, the extreme value theory approach (which through the block maxima method (BMM) and the peak over threshold (POT), focuses on variables above a given thresholdAlso relevant here are the pursuance rate risks which are related to the relative value of an interest-bearing asset diminishing due to a rise in the interest rate. It can be calculated by a variety of ways to give an estimate as to how changing interest rates are impacting upon a banks portfolioThese include the market value of portfolio equity method which uses market value of the assets,analysis of the shifts at heart the Yield curve ,the Value at Risk method, and measuring irregularities within the interest sensitivity gap of assets and liabilities. (Bower 1984).There are many primary(prenominal) models for measuring credit risk and differ by the period at which they were used .Value at Risk (VaR) is one of the mo st neo methods of measuring credit rate risk and is an integral part of the modern market risk measurement framework and it aims at expressing the total market risk as a single number, i.e. to summarize the expected maximum loss over a target horizon within a given confidence interval.

Personal Ethics Development Paper Essay Example | Topics and Well Written Essays - 1000 words

Personal Ethics Development Paper - Essay causaThe procedural dimension of ethical leadership includes problem-solving and decision-making techniques at heart the circle of ethics. For example, ethical leadership demands that the leaders, before place their decisions into action, inform and discuss them with the parties which be going to be affected by their decisions. This means that the concerned parties are being given due respect and importance. The substantive aspect of ethical leadership includes knowledge, strong standards and fortitude to follow ethical directions despite strong opposition.I believe that if the ethical leadership is successful, proficient and brilliant, thusly the results are more fruitful than expected. The success of an organization depends largely on value-based actions and deeds. I know that if I work according to my values and encounter a manufacturing fault in any yield of my company, and then I allow for surely tell the client about the flaw w ithout hiding the reality. I will discuss the issue with the workforce and the customer to let them know that I sincerely wish to invent the problem without deceiving the customer. I will tell the customer that he will be delivered perfect product after the problem has been solved. This promotes trust between the organization and the customer which attracts more clientele. Moreover, I believe in taking care of the workforce so as to maintain a healthy environment within the organization. As a personal example, since the day I became the HR manager in Human-Care.org, I elapse track of having the salaries paid in time with no delay, consider paying rewards and bonuses to the employers, listen to the workers problems and try to authorise them. This keeps them working at high efficiency rates. I believe that the ethical leader will carry pacts with business partners keeping in view what they want and respecting their decisions. This trust between

Analysis Essay Example | Topics and Well Written Essays - 500 words - 17

Analysis - Essay ExampleChuck Lanes decision to fire Stephen drinking glass can be considered as ethical and secure. Lane has laid down the facts and evidences that Stephen Glass has been dishonest and fictional in writing his reports representing The spick-and-span Republic. Glass stories such as the hacking report of Jukt Micronics and the boozy antics of the Young Republicans were proven to be based on nothing scarce Glass fictional stories. divergence to the second quadrant of the box, Lane considered several values when deciding whether to fire Stephen Glass or not. professionally speaking, as journalist, they are guided by the SPJ principles which basically states to seek the truth and report it. It is therefore mandated that journalist should be honest, fair, and courageous in gathering, reporting and interpreting information (SPJ Code of Ethics, 1996). SPJ principle ensured that journalists are circumscribe by the code to tell the truth and become fair to the readers. In this case, Glass did nothing but invent stories made out of lies.The third quadrant of Potter Box stressed out the principles go forth help the decision maker which in this case is Chuck Lane to fully understand the situation. interest Kants categorical imperative which states that Act only on that maxim whereby you can at the same sentence will that it should become a universal law. Kants ideas include being ethical is being objective and what is right must be done whatever the situation is. Lane is being objective as he has the proofs to the deeds of Stephen Glass. Thus whether Glass has been a good employee and friend to the workers of The New Republic, he deserve to be fired with valid reasons.Last box in the Potter Box contains the loyalties. In this case, Lane as the decision maker should be loyal to the readers, the public. Firing Glass means ensuring that the people reading The New Republic get the information and reports they deserve to know, the truth.Both Angela of

Greek and hellenistic religion Essay Example | Topics and Well Written Essays - 500 words

Greek and classic religion - Essay ExampleThe introduction of Egyptian deities which included Isis, Serapis, Atargatis and of Hadad afforded new channel for the Greeks who were trying to insure contentment and self-actualization in both their current life and life after death. During the Hellenistic period, worships were no yearner solely given to deities but also to Hellenistic rulers. Semi-divine rulers who regarded themselves as god-kings inspired pharaonic tradition, thereby, holding them honorable of the peoples exaltation. While Hellenistic religion adapted the idea of offering worship to rulers, rulers had never become gods.The alloy of cultures and religion between Greece and other countries had stimulated the expansive practices of magic, which is still being practiced up to this empower time. In the Hellenistic era, Greeks developed a rather spiritual and religious connection to certain wizard(prenominal) forms like oracles, prophecies, charms, and trinkets to put off bad luck and other troubles, and to cast incantations. Furthermore, the belief that the future of forgiving life can be determined by the sun, moon, and stars likewise cropped up hence, the concept of astrology. Perhaps, it was due to the syncretistic approach of the Greeks towards religion during the Hellenistic era that ushered in the creation of Hellenistic thinking Stoicism and Epicureanism. life-or-death to the changes in the Hellenistic religion was the introduction of the Olympian gods and goddesses. In fact, the term Olympian Pantheon is therefore called because these deities are believed to have resided on top of Mount Olympus. This had also stirred the foundation of Olympic Games in allege to give honor to the deities athleticism. Every deity was venerated with temples, shrines, and sculptures which, while each god is revered with his or her take in temple, likewise honor other deities. Fiestas and rites were carried out in different Greek cities that venerate their o wn presenter god. For example, festivals and other forms of celebrations

Topic of the paper will focus on a criminal case that has been Essay

Topic of the paper will focus on a criminal caseful that has been adjudicated by the United States Supreme Court and has implicatio - Essay ExampleThere are a number of cases that eat been handled by the supreme high court that have in one way or other set precedence over future rulings that may occur on similar matters and one of these is the Gonzalez Vs Raich case which occurred in the year 2005 (Find constabulary). This case dealt with the issue of home grown hemp in relation to its use for medicinal purposes, and whether an individual who was doing this had the right(a) to do so without any interference from law enforcement authorities. The ruling that was do was based on the Commerce Clause of the U.S Constitution . Congress has the ability to criminalize the use and mathematical product of Cannabis that is home grown even when states have allowed its use for medicinal purposes. About the case backer Raich and Diane Monson were the two defendants of this case which occ urred after law enforcement agencies destroyed Dianes Marijuana plants claiming that they were illegal under federal official law. This was despite the fact that Diane resided in California, a state that had allowed the use of homegrown marijuana for medicinal purposes (Find law). ... her convolute who testified under oath claiming that she needed the marijuana for the excruciating pain that she was going through and her allergic response to the other forms of alternative medication that she had tried before. The two defendants sued the governing for declaratory as well as injunctive relief in a bid to stop them from interfering in their growth and use of marijuana for medicinal purposes. They argued that the interference of the government under the Controlled Substances puzzle out was unconstitutional in reference to their activities and reasons behind those activities (that is, the growing and use of homegrown marijuana for medicinal purposes) and thus the government should not have a right to run interference. Both Angel and Diane Used marijuana to relieve themselves of pain that their bodies suffered and thus it could not be said that their handling of the drug was for recreational purposes (Find law). The government on the other hand argued that the Controlled Substance Act did not recognize nor accept the use of marijuana for medical or recreational purposes and thus the law had a right to put a stop to any form of drug cultivation among individuals despite the circumstances. The acts against Angel and Diana were as a result of the Drug Enforcement Administration (DEA) who had been given instructions to break up the various co operations that dealt with medicinal marijuana within California and seize the assets belonging to those co-operatives (Find law). though as mentioned earlier, California had made legal the use of marijuana for medicinal purposes, this act was done in the belief that Federal law trumped that of California and thus the law enf orcement agencies were within their rights to act on these orders (Find law). The government further

Vertebrate Evolution Essay Example | Topics and Well Written Essays - 750 words

Vertebrate Evolution - Essay ExampleThe issue of whether a more developed species is go on or not is subject to how one defines advancement, and is not tackled in this paper because of its subjectivity.Related species usually dispense similar morphological and or anatomical traits. They can either be ascendent-descendant, or descendants from the kindred ancestor. The proximity of their relation is defined by the amount of evolutionary changes that occurred between them. For example, humans are enveloping(prenominal) to four-legged animals than to fish. Humans are closer to monkeys than they are to horses because of their opposable thumb. However, not all organisms that have a characteristic in common are well related. Bats and birds are the only groups of vertebrates that share flight, but soft descended from a lineage of non-winged animals, and are thus more related to humans than they are to birds.Possible dealing among groups (A, B and C) can be depicted through a cladogr am (Figure 1). Cladistics, the process behind making a cladogram, is usually based on morphology, but can also be make from anatomy or embryology, for example. It is a branching diagram in which the base is occupied by the closest common ancestor. It whitethorn be extant, and as such be one of the groups, but it may also be hypothetical, equal in this case, and as such is left as blank. From it, a character that differentiates the groups from their closest common ancestor is rigid on the branch leading to A, B, and C (tick mark). Because groups A and B are more closely related to each other than to C, the defining characteristic that made them different from C is also placed in the diagram (double tick mark). Points of bifurcation represent hypothetical ancestors. A number of cladograms can be made in relating A, B, and C to one another, but it is usually the tree with the minimum number of evolutionary changes that is preferable (Kent and Carr 2004,