Case Study Warm Winter - 2003 Words

â€Å"WARM WINTER† Kyle LeJeune April 12, 2015 Rutgers University Agency Information (Background Capability) Since 2009, Coming Home of Middlesex County has worked tirelessly within and directly with the community creating a true system to end homelessness. Through funding from Middlesex County, NJ, The United Way and Robert Wood Johnson Foundation, this organization has been able to establish a solid footing in combatting homelessness. As administrators of the Homeless Management Information System (HMIS) for the county, our agency restructured its system to a client-based, needs-based system of services. It is because of this, in conjunction with our agency’s coordination of the county’s Point-In-Time (PIT) survey that we have†¦show more content†¦Those collaborations along with our deep relationships with the community are what have made us such a strong organization. Our agency is striving to create self-sustaining environments for all the homeless individuals and families within Middlesex County. Our long-term goal is to eliminate homelessness altogether. Programs and Services: o Homeless case management provider to the County’s Homeless Hotline o Direct case management services to those entering the system through the 211 hotline o Provide limited funding for temporary placement o Limited financial assistance for permanent housing o Housing First Campaign Organizational Structure: Coming Home is comprised of 18 board members, 5 full-time employees: †¢ Eileen O’Donnell (Executive Director) - B.A in Psychology, Masters in Public Policy, J.D. from Rutgers School of Law, and is currently pursuing her M.S.W. †¢ Ruth Cruz (Case Manager for the Homeless Hotline)- B.A. in Sociology †¢ Bobbin Paskell (Assistant Director of Systems) - M.S.W., L.S.W. †¢ Meriam Shenoda (Executive Assistant/Fundraising Manager)- Bachelor’s in Commerce Accounting †¢ Christopher DeGiulio (Assistant Director of Programs) Also, 1-2 interns per college semester and 15 regular volunteers Need/Problem (Need, Goals, Objectives) While the process of accessing affordable housing is not an overnight process and moving into an

Why School Uniforms Should Be Required - 1333 Words

The Need for School Uniforms School is a place to learn, grow and acquire the necessary fundamentals to become a productive adult in society. I believe school uniformity create an environment where kids can learn and focus on their education. School uniforms should be required in grades pre-kindergarten to twelfth grade. I recognize that school uniforms create structure and discipline, equality and a sense of belonging amongst each other, and lastly school uniforms are cost effective. There have been many on-going debates for and against school uniforms for years. In the following paragraphs I will support my claims on why school uniforms should be required. In high school back in 1997 our school did not require for us to wear uniforms. Everyone was free to wear what they wanted and school staff was quite lenient with the dress code. Amongst my peers I noticed a lot of kids seem to have no discipline in their life, school was not a priority for them. Our school had a very high drop-out rate, tardies and absences were also high. I believe that if our school would have required the students to wear uniforms, it could have made some type of difference. According to one surveyed parent pro school uniforms, School uniforms send a signal that school is something to be serious about. I agree with the parents views, because when children have rules and guidelines that they have to follow, that teaches them structure and discipline. In result, the discipline can help guideShow MoreRelatedWhy School Uniforms Should Be Required.727 Words   |  3 Pageseverlasting debate that whether school uniforms should be worn or casual clothing is as good. And like most of the popular debate in the world it has no concrete answer, it totally depends on a person’s beliefs actually. For some it is a benefit for others a disadvantage. I believe public schools should require students to wear uniforms. First wearing school uniforms promotes good discipline. Second it reduces distractions. Thirdly it is a far less expensive to buy school uniforms than many other clothesRead MoreStudents Should Be Required to Wear Uniforms801 Words   |  4 Pages 2013 All Students Should Be Required To Wear Uniforms Dress code has always been a problem in schools because students often times don’t adhere to the rules on what they can and cannot wear to school. While clothing is a minor issue when it comes to education; wearing uniforms does seem to improve an educational environment. Are school uniforms good or bad? There are many reasons why students should be required to wear uniforms. Students should be required to wear uniforms because it creates anRead MoreSchool Uniforms: A Bad Idea Essay1247 Words   |  5 Pageshigh schools in the United States is parents and their children against the enforcement of their school’s uniform policy. More schools have been adopting uniform policies within the past decade. Rules contained in the policy that are implemented range from wearing certain types of tops (shirts) in specified colors to students being required to tuck in their shirts. In the past, uniforms were exclusively for students who attended private schools because they were â€Å"well-off†, but now uniforms areRead MoreWhy School Uniforms And Low Income Areas1512 Words   |  7 Pages Why are required school uniforms always discussed in low income areas vs. medium or high income areas? The fact that required uniforms are well established in low income areas.The question is why are required uniforms so popular in low income areas?Will require school uniforms in low income areas in Chicago drive students to become more successful? It seems that there are no reasons for middle/higher income areas to implement these required policies since there are a lower percent of â€Å"at risk† studentRead MoreThe Pros and Cons of Wearing School Uniform1523 Words   |  6 PagesScientific research shows that school uniforms make the student appear smarter and more well-behaved, according to Behling (1994). In the experimental study, Behling found that when students wore uniforms, they were perceived in a more positive light by both their peers and by t eachers too. The research is based on the theory of person perception. Person perception theory suggests that a persons clothing and appearance lead to the formation of first impressions, and those first impressions can lastRead MorePersuasive Against School Uniforms716 Words   |  3 Pagesyou think school uniforms will help your child not become bullied? Well, you’re wrong. Studies are showing that school uniforms are beginning to cause bullying instead of preventing it. School uniforms are becoming a bigger and bigger problem in today’s society. They are very expensive, they do not allow students to express themselves, and they are not helpful for students to try and find out who they are. On average parents will pay close to $300 per child every year for school uniforms. StudentsRead MoreSchool Uniforms : A Veil Of Creativity1615 Words   |  7 PagesEnglish III Honors 12 November 2015 School Uniforms : A Veil of Creativity Although the uniform requirement has just been recently imposed, uniforms have been in existence for several centuries now. The first documented usage of a ‘standard’ garment in education was in 1222, where students were required to wear a â€Å"cappa clausa† or a robe-like outfit. School uniforms make schools a less happier place. School uniforms restricts self expression. Having required uniforms in a school’s curriculum negativelyRead MoreThe Fashion Industry1447 Words   |  6 Pagesdecorative cities but also into the lives and environments of public schools and their students. The insertion of so called â€Å"fashion† into the public school environment can be taken either as noble or corrupt; however in this case, there is nothing spectacular about the so called â€Å"fashion† and or â€Å"self-representation† that students are claiming to be wearing in today’s society. Not only has the non-uniform policies at public schoo ls aloud students to wear pretty much whatever they want, with some exceptionsRead MoreThe Importance Of Uniforms In Schools813 Words   |  4 PagesStudents from schools with a uniform policy say that uniforms have affected the way they feel about themselves in an unsatisfactory way. Uniforms are proven to slow down the transition into becoming an adult because students are not used to choosing their own clothing. Wearing a uniform opens an opportunity for students to judge each other’s bodies based on how they look and it creates room for drama and bullying. The uniforms can also obstruct a student from expressing themselves. Schools should not requireRead MoreStudents Should Wear Uniforms Debate Essay910 Words   |  4 Pagesabout whether students should wear uniforms or not. Many schools agreed with the idea and have already required school uniforms, while others are still considering it. Some say that school uniforms represent discipline and instill school pride, but o thers think that it is not creativity and comfortable. Despite that there are still arguments about it; school uniforms have increasingly demonstrated their importance and influence in many ways. Students should have to wear uniforms because it will help

General Objective of Financial Reporting

Question: Discuss about theGeneral Objective of Financial Reporting. Answer: Introduction The compliance with the general objective of GPFR in respect of financial information characteristics is a factor that companies like Alumina Limited must consider during the preparation of financial statements. This intends to scrutinize the annual report of Alumina Limited and showcase whether the firm has complied with such standards as AASB 116 relating to PPE disclosure requirements and give a recommendation that the company needs to do to ensure effectiveness in financial statements preparation and reporting to boost information satisfaction. GPFR Objectives and Characteristics Financial Information The objective of general purpose of financial reporting is to provide information to the relevant users such as potential investors, lenders, and some creditors on the entitys financial position, performance and cash flow. It enhances the ability of the parties concerned to get information required in decision making (IMF, 2009). It necessitate the users ability to make economic decisions tied to the evaluation of the entitys strength to generate cash and cash equivalents. Among the decisions considered by users are; buying, selling and holding of equity and debt instruments, providing loans and other credit forms. To effectively evaluate these entitys ability, users are provided with the information on the financial position of the entity thus able to evaluate strengths and weaknesses as well as liquidity and solvency status. Through the report, users get to know about the effects of transactions and their related events on the assets and liabilities at the period of occurrence. Thi s provides users with information on the financial performance of the entity. Consequently able to access management performance, cash generation ability, and risks experience and their effect on the business. The financial position of the entity too is reported in the financial report. This incorporates the entitys economic power evident by the economic resources it owns and the claims tied to such resources (IMF, 2009). By accessing the economic resource power of an entity, users are able to take appropriate decision on whether to provide an entity with resources or not. In relation to economic resources, the claims by other relevant partners tied to an entity are also explained through the report. These claims are the gauge through which users understand the returns accrued to the entity on its resources. A useful financial report must be relevant and faithful on its role of representing the financial status of an entity. The relevancy and faithfulness of the report is demonstrated by the time factor, verifiability and understandable nature of the report. Its relevance entails identification of the users decisions and differences tied to them. Differences in decisions made by users are attributes of predictive and confirmatory value of the report. Therefore, a good report must entail confirmatory and predicative value to know the differences in users decisions. Faithful representation is another features of a good financial report. Through representation of the entitys status, the report should be complete, neutral and free from error. This enhances the objectivity scope of preparing the report and clearly demonstrates what is happening with the entity not only in numbers abut also in words (Conceptual Framework for Financial Reporting 2010). The representation should withstand a test of time and facts. Information in the report should be in line with fundamental qualitative characteristics. This is about accommodating economic situation relevant and faithful to the users decision making need. They include comparability; where users are provided with alternatives on the investment. It enhances chances to understand and compare similarities and differences of the alternatives at hand while making decisions. Verifiability as a consequent of qualitative characteristics enables users to have faith in the information contained in the report. It indicates real economic phenomena which can be verified by different parties and finally come to the same conclusion. In addition, timeless, and understandability too make the report useful. Thus due to users understanding, the report should be simple to interpret, concise and clear on its representation. Last Annual FR of Alumina Limited Relative to Disclosure PPE Requirements AASB 116 disclosure requirement for PPE requires companies to adhere to the financial statements disclosing class of property, plant and equipment in relation to measurement bases used in determining the gross carry amount, depreciation methods used, the useful lives or the depreciation rates, and reconciliatory of the carrying amount both at the start and the end of the periods among other relevant requirements. In preparation of Alumina Limited financial report of the year 2015, the flowing have been considered in line with ASSB116; The statements incorporated assets, liabilities and results of the operations and the equity accounts. This illustrates the solvency and liquidity level of the company which can be clearly evaluated by users to make a wise economic decisions. Alumina Limited is a profit making entity, therefore in relation to AASB116, it has disclosed its executive shareholdings in the company. Each executive shareholders contribution in the company is well illustrated in summary of the end years financial statement. This illustrates the level of contribution of each shareholder in the company and how far such contributions have been growing on annual basis. Details of the companys performance since 2012 to 2015 is also represented, a representation that tally with the demand of AASB116. In the performance, the individual performance of CEOs including the grants granted, outcomes achieved and value of their performance are considered. Service agreement between the company and its employees is coinciding with the disclosure requirement. The condition is demonstrated in Alumina Limited where service agreement in relation to termination of payments and their periods is captured. Importantly, the illustration of the financial flow in the company and equity changes. The company has disclosed its equity levels in its consolidated statement, a statement that offers users with a scope of understanding financial obligations of the company. Generally, in relation to AASB116, Alumina Limited has abide by the requirement of disclosure while preparing a financial report of the profit making entity. Fundamental Satisfaction and Qualitative Characteristics Financial Statement Qualitative characteristics includes; relevance, faithful representation comparability, variability and understandability. In the Alumina Limited financial report, relevance has been observed. The information provided in relation to the companies economic resources in comparison to both current and non-current liabilities, provide a clearly illustration to the parties interested in the company to effectively evaluate decisions. The company has explained its financial base by using both the numbers and words. The figures used in the statement are rightfully explaining the phenomena on the business as it purports to. The grant and other means through which the company has acquired resources are faithfully demonstrated in the report. To tap the users attention on the performance of the company, it has accurately employed the use of timeliness as a qualitative characteristic. The preparation of the financial statements were done at the right time, therefore, its usefulness is relevant to the users. Disclosure Alignment on PPF with GPFR Objectives The main objective of the general financial reporting is to adhere to the qualitative characteristics to provide relevant and accurate information on the performance and economic resources of an entity. The objective is supported by the disclosure on PPF due to the disclosures role in ensuring that entities disclose their assets, liability levels and performances. Recommendation While preparing a financial statement for an entity, a company should consider giving more value on the costs involved in the preparation of the statement. Cost constraint is a factor that deserves more concentration hence for better improvement on the disclosure and qualitative characteristics it should be properly indicated by auditors and accountants in the financial statement preparation. Conclusion Alumina Limited Annual Report reveals a great deal of compliance with general objectives of GPFR and the features of financial information as reinforced by compliance with ASBB116. It is, however, recommended that the firm needs to consider cost-effective measures to drive the preparation of its financial statements as cost is a critical factor in coming up with such statements. References Financial Services Authority Financial Reporting Council 2010. Enhancing the auditors contribution to prudential regulation, Discussion paper 10/3 IMF 2009, Global Financial Stability Report responding to the financial crisis and measuring systematic risks, International Monetary Fund. Property, Plant and Equipment AASB 116, (30 October 2009) by the staff of the Australian Accounting Standards Board. The Conceptual Framework for Financial Reporting 2010 by the International Accounting Standards Board (IASB).

Diversification - Corporate Governance and Firm Value in Small Markets

Question: Discuss about the Case Study for Diversification, Corporate Governance and Firm Value in Small Markets. Answer: Introduction The purpose of the following piece of project is to give a thorough explanation of the general responsibilities undertaken by the Chief Financial officer of a company. The responsibilities are generally accomplished with the view of maximizing the profit generating capacity of the firms. The various ways in which a CFO serves the company has been listed below and discussed briefly. The impact of the roles of the CFO of the company has also been discussed by the researcher. The main aim of the researcher is to find the ways in which the responsibilities undertaken by the CFO of a particular company can affect the ultimate objective of the same. Here, the ultimate objective of the company has been taken to be profit maximization, gaining more customers and improving the brand image. In order to apprehend the following piece of research, the researcher has selected an Australian Retail company named Woolworths Ltd to display the impact of the duties followed by the CFO of the Woolworths Ltd on the organizational objectives of the same. 1: General Responsibilities of a CFO in Woolworths Ltd The major responsibility of the Chief Financial Officer of a company is to assist the financial workings of the company they are appointed in. In addition to this, the CFO also requires to determine the areas of strength as well as weakness of the company so as to give the appropriate suggestion regarding the growth of the company. As said by Alà ¢Ã¢â€š ¬Ã‚ Maskati et al. (2015), it falls under the major duties of a CFO to ensure that the financial reports proposed by the company are fully authentic by all means. In the words of McNulty et al. (2013), the recent retail market situation in Australia is facing serious competition from the rival firms owing to the emergence of a number of firms engaged in similar form of business. Among the top retail companies operating in Australia currently, Woolworths Ltd is one of the major firms that has a number of stores functioning across the major cities of the country. The following company operates mainly in the food industry sector and offers grocery products to the consumers for the purpose of sale. The company also claims to provide 100% fresh raw food products in the country. In this context, it falls under the duties of a CFO of the Woolworths Ltd to manage and allocate the resources in a manner that would produce the best possible results in favor of the company. The responsibilities of a CFO of the Woolworths Ltd may be categorized into the following heads as follows: As a Controller of the Woolworths Ltd: In the words of Ou et al. (2014), it is the prime responsibility of the CFO of the Woolworths Ltd to look after the reports and the financial presentation of the annual reports of the company. on account of this presentation of the annual reports a lot of major decision regarding the future work proceedings of the company is taken making it absolutely mandatory for the CFO to check the authenticity of the reports. Here, the investors of the Woolworths Ltd such as the employees, shareholders, dividend holders etc depend on the published annual reports of the company to take decision regarding the amount of investment to be done in the company. Besides, it is also essential that the company publishes the annual financial reports on time for the ease of the investors in taking major investment decisions. Here, the CFO of Woolworths is liable to ensure the authenticity of the allocation as well as documentation of the annual reports of the company. As optioned by Block (2008), the CFO also requires performing the responsibilities as that of a cash manager and looking after the disbursement of cash, payables and receivables of various accounts including the reconciliation statements of banks and the payroll functions. In the words of Brealey et al. (2003), the framing of the financial strategies and the implementation of the same in the accounting process of the Woolworths Ltd is among the major responsibilities of the CFO of the company. In addition to that, the CFO also requires reviewing and approving the invoices of the company that are payable in addition to the account receivables of the company. As observed by Deloof (2003), it is the duty of the CFO of Woolworths Ltd to prepare the income tax structure by coordinating with the auditors as well as the external tax accountants in order to make sure that the tax structure prepared is favorable for the well-being of the company. Besides, the CFO of Woolworths also requires keeping a check on the arrangement of the annual reports of the company so that it may be clearly accessed for examining purpose. It is one of the major responsibilities to be fulfilled by the CFO of Woolworths that is reviewing the annual reports of the company along with the financial contracts and agreements, financial policies including the negotiations done on credit and the agreements made with the vendors. According to Garcia-Teruel and Martinez-Solano (2007), the organization and preparation of the financial data helps the CFO of the company to construct the financial strategies of the company to be implemented in the long run. Here, the coordination of the financial plans and the various business operations undertaken by the company is looked after by the CFO of Woolworths Ltd. Further, the CFO also provides the required assistance to the executives in the framing of the policy decisions of the company. In context of this Fao.org (2014), stated that the CFO requires to expertise in delivering the essential opinions as well as perspectives for the financial affairs of the Woolworths Ltd. It is one of the essential duties of the CFO to be undertaken i.e. is to fulfill the reporting duties towards the maintenance of the financial statements along with the budgets of the Woolworths Ltd. As a forecaster of the Economic Strategies of the Woolworths Ltd: As a forecaster for the company the CFO analysis the areas of expertise of the company and finds out the ways of channelizing profits out of it. According to Sarkar and Sudipto (2011), the CFO also needs to identify the areas in which the company lacks behind and suggest the appropriate remedial measures for it. The CFO of Woolworths conducts the allocation of the financial resources of the company and makes the future predictions about the profits risk and growth possibility of the company. In order to identify the possibility of risk in the future, according to Uyar (2009), the CFO of the Woolworths LTD requires linking the data of the company with the workings of the same to find out the possibilities of growth and expansion. As stated by Vintila and Nicoleta (2005), the CFO is responsible to regulate the ongoing performance of the company and to keep a check on the fact that the workings of the company is meeting the organizational needs of the same. The CFO of the Woolworths Ltd engages in the formulation of the financial as well as the internal control systems of the company. The management sector of the Woolworths Ltd is also given the subsequent assistance in the formation of the growth strategies of the company. The checking of the company annual reports and the submission of the same on the prescribed time is the responsibility of the CFO. As a treasurer of the Woolworths Ltd: In the words of OHanlon et al. (2007), it is one of the prime responsibilities of the CFO of a company to work towards the improvement of the financial position and enhancing the financial condition of the same. The CFO also requires deciding upon the basic mix of the debt, equity along with the internal finances of the company with the purpose of deriving the best possible results. As opinioned by Kaya and Halil (2011), along with the other functions, the CFO of a company also requires to take the necessary steps essential to eradicate the problems associated with the capital structure of the Woolworths Ltd. The coordination in between the budget of the Woolworths Ltd and investing activities of the same is looked after by the CFO of the company. Along with the other duties, as stated by Lazaridis (2004), the CFO also decides the rate of charging depreciation on the capital assets of the company. In addition to the above the CFO provides with the required advice concerning the purchase as well as lease along with the disposal of the companys assets. Besides, the CFO of the Woolworths Ltd provides the accounting staffs with the necessary guidelines regarding the framing of the budget policies of the company. Besides, the above stated responsibility as a treasurer, the CFO of Woolworths Ltd also requires keeping a check on the performance of the employees of the company particularly of the financial staffs and taking the necessary actions with regard to the promotion and the dismissal of the staffs appointed. Effect of CFO on the objectives of the Woolworths Ltd The development and growth of the Woolworths Ltd in the fglobal market is shaped and integrated by the CFO of the company. The CFO performs the combined functions of a controller, treasurer as well as of a financial analyst and forecaster. As stated by Harford et al. (2012), the workings of the CFO as a controller help the company in the determination of the growth possibilities of the same and the extent to which the workings are fulfilling the objectives of the company. Further, the CFO also takes the necessary steps that may generate the maximum revenue in the areas in which the company thrives via analyzing the annual reports. As a treasurer of the company the CFO assists the management in reducing the cost of production along with the other expenses incurred by the company by allocating the resources of the business in an efficient way. The analysis of the market structure in which the firm is operating is done by the CFO of the company that may help in determining the occurrences of risks in the business so that the necessary steps may be taken in this regard. However, according to Essen et al. (2013), besides undertaking the major responsibilities of the workings of the company, the prime responsibility of a CFO involves preparing the company financially to deal with the rising competition in the market and expand the business of the Woolworths Ltd. 2: As stated by Yao et al. (2013), in accordance with the theory of the Efficient Market Hypothesis or EMH it becomes quite impossible to beat down the market as the efficiency of the stock market compels the current prices of stock to integrate and display all the required relevant information. In the words of the theory, the stock are always traded in the stock market at the fair value. Therefore, the investors find it impossible to sell the stocks at a higher or inflated price and purchase the stocks at an undervalued rate. In this context, the theory states that through the way of the market timings it becomes quite impossible to surpass the stock market or the selection of stocks by the market experts. As per the words of Della Croce (2012), the best possible way to beat the market is making the investments at a highest risk in order to earn the maximum higher returns. The impact of the theory of EMH has also been witnessed upon the portfolio and pension fund managers etc. However, the theory is also believed to have raised a subsequent amount of controversy. The managers of the pension fund department are in support of this theory stating that is irrelevant to search out for the undervalued stocks or to look out for trends through the process of technical as well as fundamental analysis. However, a few of the investors have been successful in defeating the market on a continuous basis for the past few years. According to Gao (2013), the pension fund managers tend to lay more emphasis on the submissive strategies of investment with a lower cost portfolio. The EMH theory concentrates mainly on the investment strategy along with the total market index and portfolio diversification to form a benchmark for the performance. As per the view of the pension fund managers, it is not possible to determine the future performance of any particular company by studying or analyzing the past performance of the same. Hence, it may be said that the pension fund managers try to implement the strategy of passive investment strategy for their clients in order to play safe. In the words of Vitali et al. (2016), the strategy of passive investment involves the purchase, sale and holding of the stocks for a long period of time in order to earn good returns. It is the belief of the pension fund managers that the long time period will automatically depart the inefficiencies of the short term period. However, it must be noted that the market need not be in an efficient state at all times. The pension fund often aims at avoiding the small cap stocks. Such an incidence mainly takes place due to the additional requirements associated with such kind of stocks. Besides, the pension fund managers often tend to sell out the stocks that are not meeting the objectives of the investment strategy nonetheless the level of performance of the stocks currently. Here, the prime focus of the pension fund managers is to accomplish the pension objectives of the clients. The strategy of the managers is to generate a fixed rate of income post the retirement of the stated client. Conclusion The following research has been done with the purpose of determining the major responsibilities that are undertaken by the CFO of the Woolworths Ltd and the ways in which it assists in meeting the organizational goals of the company. On the completion of the research work, subsequent details regarding the duties of the CFO imply that the growth of the company is directly linked with the efficiency of the working of the CFO of the same. As a controller, treasurer and analyst of the company, the CFO assists the day to day workings of the company particularly in the finance sector so that the company may be able to derive the maximum amount of benefit and revenue. Hence, it may be concluded that the responsibilities undertaken the CFO plays a major role towards the attainment of the organizational objectives of the company. Apart from the above, the researcher has also focused on analyzing the strategy of the pension fund managers. In this context, the researcher has concluded that such managers tend to lay more emphasis on the passive investment strategy. The reason for adopting this strategy is that the major objective of the pension fund managers is to channelize a fixed flow of earnings for their clients. The researcher has given a detailed description regarding the same. Reference List: Alà ¢Ã¢â€š ¬Ã‚ Maskati, N., Bate, A.J. and Bhabra, G.S., 2015. Diversification, corporate governance and firm value in small markets: evidence from New Zealand.Accounting Finance,55(3), pp.627-657. Block, S.B., (2008), A study of financial analysts: practice and theory. Financial Analysts Journal, 15(8), pp. 86-95. Brealey, Richard, A. and Myers, C.S. (2003) Principles of Corporate Finance. Seventh edition, McGraw-Hill publications. Della Croce, R., 2012. Trends in Large Pension Fund Investment in Infrastructure.OECD Working Papers on Finance, Insurance and Private Pensions, (29), p.1. Deloof, M. (2003), Does working capital management affect profitability of Belgian firms? Journal of Business Finance and Accounting, 30(3), pp. 573-587. Essen, M., Engelen, P.J. and Carney, M., 2013. Does Good Corporate Governance Help in a Crisis? The Impact of Countryà ¢Ã¢â€š ¬Ã‚ and Firmà ¢Ã¢â€š ¬Ã‚ Level Governance Mechanisms in the European Financial Crisis.Corporate Governance: An International Review,21(3), pp.201-224. Fao.org, (2014).Chapter 7 - Sources of finance. [online] Available at: https://www.fao.org/docrep/w4343e/w4343e08.htm [Accessed 18 Jul. 2014]. Gao, J., 2013. Stochastic Optimal Control of DC Pension Fund under the Fractional Brownian Motion.Appl. Math,7(2), pp.571-578. Garcia-Teruel, P.J. and Martinez-Solano, P. (2007), Effects of working capital management on SME profitability. International Journal of Managerial Finance, 3 (2), pp.164177. Harford, J., Mansi, S.A. and Maxwell, W.F., 2012. Corporate governance and firm cash holdings in the US. InCorporate Governance(pp. 107-138). Springer Berlin Heidelberg. Kaya and Halil, D. (2011), The effect of firm characteristics on choice of debt financing. International Journal of Management, 28(4), pp. 199-208. Lazaridis, I. T. (2004), Capital budgeting practices: A survey in the firms in Cyprus. Journal of Small Business Management, 42(4), pp. 427-433. McNulty, T., Zattoni, A. and Douglas, T., 2013. Developing corporate governance research through qualitative methods: A review of previous studies.Corporate Governance: An International Review,21(2), pp.183-198. OHanlon, John and Anthony, S. (2007), Estimating the equity risk premium using accounting fundamentals. Journal of Business Finance Accounting, 27(9), pp. 1051-1082. Ou, A.Y., Tsui, A.S., Kinicki, A.J., Waldman, D.A., Xiao, Z. and Song, L.J., 2014. Humble chief executive officers connections to top management team integration and middle managers responses.Administrative Science Quarterly, p.0001839213520131 Sarkar and Sudipto (2011), Optimal expansion financing and prior financial structure. International Review of Finance, 11(1), pp. 57-86. Uyar, A. (2009), The relationship of cash conversion cycle with firm size and profitability: an empirical investigation in Turkey. International Research Journal of Finance and Economics, 4(24), pp. 186193. Vintila and Nicoleta (2005), Real options in capital budgeting: Pricing the option to delay and the option to abandon a project. Journal of Applied Corporate Finance, 17(3), pp. 47-58. Vitali, S., Moriggia, V. and Kopa, M., 2016. Optimal pension fund composition for an Italian private pension plan sponsor.Computational Management Science, pp.1-26. Yao, H., Yang, Z. and Chen, P., 2013. Markowitzs meanvariance defined contribution pension fund management under inflation: A continuous-time model.Insurance: Mathematics and Economics,53(3), pp.851-863.