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UPDATE `aff_pdf_cache` SET `cache` = 'a:10:{i:0;O:8:\"stdClass\":13:{s:2:\"id\";s:6:\"503129\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:10:\"testbank11\";s:9:\"author_id\";s:6:\"610515\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:73:\"Testbank For Corporate Computer and Network Security 2nd Edition by Panko\";s:11:\"description\";s:73:\"Testbank For Corporate Computer and Network Security 2nd Edition by Panko\";s:5:\"thumb\";s:78:\"images/t/5032/corporate-computer-and-network-security-2nd-edition-by-panko.jpg\";s:6:\"thumb2\";s:79:\"images/t2/5032/corporate-computer-and-network-security-2nd-edition-by-panko.jpg\";s:9:\"permalink\";s:60:\"corporate-computer-and-network-security-2nd-edition-by-panko\";s:5:\"pages\";s:1:\"2\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:1;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"26025\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"monkey\";s:9:\"author_id\";s:4:\"3327\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:56:\"Strengthening the Link Between CSR and Shareholder Value\";s:11:\"description\";s:639:\"Today I will be talking about strengthening the link between CSR
\nand Shareholder value. While the consulting that I do in this area covers a broad
\nrange of industries I am particularly grateful for the opportunity to discuss these
\nissues with you today. I began my career in the energy industry—in particular
\nworking for two of the largest integrated oil companies. I have had the privilege to
\nbe exposed to CSR related issues at both Exxon and Chevron during the 70’s and
\nearly 80’s and to consult for a number of oil companies and electric utilities both in
\nthe US and overseas\";s:5:\"thumb\";s:73:\"images/t/261/strengthening-the-link-between-csr-and-shareholder-value.jpg\";s:6:\"thumb2\";s:74:\"images/t2/261/strengthening-the-link-between-csr-and-shareholder-value.jpg\";s:9:\"permalink\";s:56:\"strengthening-the-link-between-csr-and-shareholder-value\";s:5:\"pages\";s:2:\"26\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:2;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"26029\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"monkey\";s:9:\"author_id\";s:4:\"3327\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:67:\"Real Options, Corporate Performance, and Shareholder Value Creation\";s:11:\"description\";s:480:\"Le Chatlier\'s principle: unconstrained optimization yields
\nhigher optimum than constrained optimization. The difference
\nis the value of removing constraints (flexibility)
\nOpen loop versus feedback control: in stochastic optimization
\nfeedback control results in higher optimum value of the
\nobjective function. The difference is the value of flexibility
\nFlexibility is valuable when there are contingencies and one has
\nthe freedom to choose\";s:5:\"thumb\";s:82:\"images/t/261/real-options-corporate-performance-and-shareholder-value-creation.jpg\";s:6:\"thumb2\";s:83:\"images/t2/261/real-options-corporate-performance-and-shareholder-value-creation.jpg\";s:9:\"permalink\";s:65:\"real-options-corporate-performance-and-shareholder-value-creation\";s:5:\"pages\";s:2:\"35\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:3;O:8:\"stdClass\":13:{s:2:\"id\";s:6:\"162147\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:13:\"shawnware1128\";s:9:\"author_id\";s:5:\"42679\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:60:\"Marketing: Integral Component To Business Growth And Success\";s:11:\"description\";s:212:\"Marketing is an essential ingredient to business growth and success. It is an integration of various processes which aim to assist you in forming resilient and mutually beneficial relationships with your patrons.\";s:5:\"thumb\";s:77:\"images/t/1622/marketing-integral-component-to-business-growth-and-success.jpg\";s:6:\"thumb2\";s:78:\"images/t2/1622/marketing-integral-component-to-business-growth-and-success.jpg\";s:9:\"permalink\";s:59:\"marketing-integral-component-to-business-growth-and-success\";s:5:\"pages\";s:1:\"3\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:4;O:8:\"stdClass\":13:{s:2:\"id\";s:4:\"7153\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"shinta\";s:9:\"author_id\";s:3:\"377\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:89:\"A hybrid knowledge-based decision support system for enterprise mergers and acquisitions\";s:11:\"description\";s:989:\"This paper presents a hybrid knowledge-based decision support system for enterprise mergers and acquisitions. The HKDSS system
\nprovides not only practical merger and acquisition procedures, related regulations, and legal problems but also feasible solutions or actions
\nthrough the performance of rule-based reasoning. The hybrid system integrates a database, case base, rule base and model base to create a
\ntool that managers can use to deal with decision-making problems via the Internet. Rules in the rule base are explained here in detail to
\nillustrate the process of reasoning, and four practical cases in the case base also used to show how a case can be dealt with as a new case
\narrives. In order to evaluate a business\'s value, a discounted free cash flow model and economic profit model in the model base have been
\ndeveloped. Finally, a scenario analysis is employed to show how the user can deal with an uncertain growth rate and present value.\";s:5:\"thumb\";s:104:\"images/t/72/a-hybrid-knowledge-based-decision-support-system-for-enterprise-mergers-and-acquisitions.jpg\";s:6:\"thumb2\";s:105:\"images/t2/72/a-hybrid-knowledge-based-decision-support-system-for-enterprise-mergers-and-acquisitions.jpg\";s:9:\"permalink\";s:88:\"a-hybrid-knowledge-based-decision-support-system-for-enterprise-mergers-and-acquisitions\";s:5:\"pages\";s:2:\"14\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:5;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"26038\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"monkey\";s:9:\"author_id\";s:4:\"3327\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:66:\"STRATEGY AND SHAREHOLDER VALUE CREATION: THE REAL OPTIONS FRONTIER\";s:11:\"description\";s:3130:\"We live in a period of heightened uncer-
\ntainty. Our current business environ-
\nment is being shaped by large-scale and
\nlong-term trends, such as deregulation
\nand Robert Merton in 1973. Another early and
\nconsistent advocate of this way of thinking has been
\nStewart Myers, the MIT finance professor who coined
\nthe term “real options” in an article published in 1984.
\nIn that article, Myers went so far as to say that real
\noptions has the potential to close the wide gap between
\nstrategic planning and finance. In Myers’s words,
\nStrategic planning needs finance. Present value
\ncalculations are needed as a check on strategic
\nanalysis and vice versa. However, standard dis-
\ncounted cashflow techniques will tend to understate
\nthe option value attached to growing profitable lines
\nof business. Corporate finance theory requires exten-
\nsion to deal with real options.1
\nSo why the recent wave of interest in real
\noptions? The short answer is, an increase in both
\nsupply and demand. On the supply side, there has
\nbeen a growing body of academic literature illustrat-
\ning applications of the real options approach. 2 A
\nbook by Avinash Dixit and Robert Pindyck pub-
\nlished in 1994 codified this body of work and linked
\nit to the larger literature on investment decisions
\nunder uncertainty. 3 Lenos Trigeorgis, who also
\n*Martha Amram is Managing Director, Navigant Consulting/SDG;
\nmartha_amram@sdg.com. Nalin Kulatilaka is Professor of Finance at Boston
\nUniversity; nalink@bu.edu. They are the co-authors of Real Options: Managing
\nStrategic Investments in an Uncertain World (HBS Press, 1999; www.real-
\noptions.com). The authors wish to thank Jennifer Nebbia, Denise Dorning, and
\nRichie Ganitsky for research assistance. Conversations with Alan Jung and Alan
\nMarcus have sharpened our presentation.
\nW
\n1. Stewart Myers, “Finance Theory and Financial Strategy,” Interfaces, January/
\nFebruary, 1984. pp. 126-137.
\n2. See www.real-options.com for a starter bibliography.
\n3. See Avinash Dixit and Robert Pindyck, Investment Under Uncertainty,
\nPrinceton University Press, 1994.
\nand increased global competition, as well as the
\nmore recent arrival of the Internet. The conver-
\ngence of these factors has sparked a search for
\nstrategic frameworks and capital budgeting tools
\nthat can help managers evaluate and manage uncer-
\ntain opportunities.
\nAt the same time, a promising new tool known
\nas “real options” has attracted attention. Viewed
\nnarrowly, the real options approach is the extension
\nof financial option pricing models to the valuation of
\noptions on real (that is, nonfinancial) assets. More
\nbroadly, the real options approach is a way of
\nthinking that helps managers formulate their strate-
\ngic options, the future opportunities that are created
\nby today’s investments\";s:5:\"thumb\";s:82:\"images/t/261/strategy-and-shareholder-value-creation-the-real-options-frontier.jpg\";s:6:\"thumb2\";s:83:\"images/t2/261/strategy-and-shareholder-value-creation-the-real-options-frontier.jpg\";s:9:\"permalink\";s:65:\"strategy-and-shareholder-value-creation-the-real-options-frontier\";s:5:\"pages\";s:2:\"14\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:6;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"26093\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"monkey\";s:9:\"author_id\";s:4:\"3327\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:45:\"Stakeholder Information and Shareholder Value\";s:11:\"description\";s:1360:\"his paper examines the relationship between incidents of positive
\nand negative social responsibility and shareholder value in an event
\nstudy setting. I find significant negative abnormal returns when third
\nparties (e.g. newspapers, non- governmental organizations or regula-
\ntory authorities) publicly report about negative social responsibility.
\nNegative returns are particularly strong for information concerning
\nproduct safety and the firm’s impact on communities or the wellbeing
\nof employees. In contrast, positive news does not generate a system-
\natic reaction. Analyzing positive events in greater detail, I nonetheless
\nidentify two causal mechanisms relating positive social responsibility
\nand shareholder value. On the one hand, events containing signals
\nabout past and likely future economic performance bring about pos-
\nitive abnormal returns. As such, charitable donations to communi-
\nties, profit distribution to employees and the appointment of women
\nor members of minority groups to senior executive positions are re-
\nwarded by investors. On the other hand, positive events indicative
\nof higher company expenses due to the use of alternative energy or
\n(non)-monetary benefits to employees generate a significantly negative
\nreaction\";s:5:\"thumb\";s:62:\"images/t/261/stakeholder-information-and-shareholder-value.jpg\";s:6:\"thumb2\";s:63:\"images/t2/261/stakeholder-information-and-shareholder-value.jpg\";s:9:\"permalink\";s:45:\"stakeholder-information-and-shareholder-value\";s:5:\"pages\";s:2:\"45\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:7;O:8:\"stdClass\":13:{s:2:\"id\";s:6:\"256425\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:15:\"charlesmartin17\";s:9:\"author_id\";s:5:\"79407\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:58:\"SSE plc Analysis Across the Oil and Gas Value Chain Report\";s:11:\"description\";s:413:\"\"SSE plc\" Analysis Across the Oil and Gas Value Chain is an essential source for data, analysis and strategic insight into “SSE plc”. The report provides key information relating to oil and gas assets of the company along with its operations across the value chain. The report examines the company’s business structure, operations and products, and provides an analysis of its key revenue lines.\";s:5:\"thumb\";s:76:\"images/t/2565/sse-plc-analysis-across-the-oil-and-gas-value-chain-report.jpg\";s:6:\"thumb2\";s:77:\"images/t2/2565/sse-plc-analysis-across-the-oil-and-gas-value-chain-report.jpg\";s:9:\"permalink\";s:58:\"sse-plc-analysis-across-the-oil-and-gas-value-chain-report\";s:5:\"pages\";s:1:\"3\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:8;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"26112\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:6:\"monkey\";s:9:\"author_id\";s:4:\"3327\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:45:\"Stakeholder Information and Shareholder Value\";s:11:\"description\";s:1380:\"This paper examines the relationship between incidents of social re-
\nsponsibility (positive and negative) and shareholder value in an event
\nstudy setting. I find significant negative abnormal returns when third
\nparties such as newspapers, non-governmental organizations or regu-
\nlatory authorities publicly report about negative social responsibility.
\nNegative returns are particularly strong for information concerning
\nproduct safety and the firm’s impact on communities and the wellbe-
\ning of employees. In contrast, positive news do not generate a system-
\natic reaction. Analyzing positive events in greater detail, I nonetheless
\nidentify two causal mechanisms relating positive social responsibility
\nand shareholder value. On the one hand, events containing signals
\nabout past and likely future economic performance bring about pos-
\nitive abnormal returns. As such, charitable donations to communi-
\nties, profit distribution to employees and the appointment of women
\nor members of minority groups to senior executive positions or the
\nboard are rewarded by investors. On the other hand, positive events
\nindicative of higher company expenses due to the use of alternative en-
\nergy or (non)-monetary benefits to employees generate a significantly
\nnegative reaction.\";s:5:\"thumb\";s:64:\"images/t/262/stakeholder-information-and-shareholder-value-1.jpg\";s:6:\"thumb2\";s:65:\"images/t2/262/stakeholder-information-and-shareholder-value-1.jpg\";s:9:\"permalink\";s:47:\"stakeholder-information-and-shareholder-value-1\";s:5:\"pages\";s:2:\"42\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}i:9;O:8:\"stdClass\":13:{s:2:\"id\";s:5:\"13499\";s:6:\"status\";s:8:\"verified\";s:11:\"author_name\";s:7:\"samanta\";s:9:\"author_id\";s:4:\"1916\";s:14:\"author_website\";s:0:\"\";s:5:\"title\";s:72:\"Successful Strategies for Recruiting, Training, and Utilizing Volunteers\";s:11:\"description\";s:702:\"Volunteers are necessary and extremely helpful for a healthy community. People from all walks of life donate their time and effort to various causes, day and night, every day of the year. In a human services setting, agency clients and program participants usually can\'t distinguish between volunteers and paid staff, unless nametags make those designations. The more connected to a community people feel, the more likely they are to take responsibility for the community and feel pride and a sense of commitment. Mobilizing community resources and expanding capacity through volunteers also enhance an organization\'s general profile, which can attract more volunteers, program participants, and funds.\";s:5:\"thumb\";s:87:\"images/t/135/successful-strategies-for-recruiting-training-and-utilizing-volunteers.jpg\";s:6:\"thumb2\";s:88:\"images/t2/135/successful-strategies-for-recruiting-training-and-utilizing-volunteers.jpg\";s:9:\"permalink\";s:70:\"successful-strategies-for-recruiting-training-and-utilizing-volunteers\";s:5:\"pages\";s:2:\"64\";s:6:\"rating\";s:1:\"0\";s:5:\"voter\";s:1:\"0\";}}', `cache_on` = '2015-02-28 12:27:08' WHERE `aff_id` = '270810'