Monday, May 18, 2020
Plato And Aristotle s Life And The Formation Of The Universe
Before developing one of the first democracies that existed on the earth, Athens had other forms of government, including monarchy (though that did not last very long). Even if there were other civilizations that were more established and advanced than the Greeks, they had produced â€Å"vast literatures on every human practice, as well as speculations about the origins of life and the formation of the universe†. But, tracing back to ancient Greek philosophers such as Plato and Aristotle, is the tradition of political theory, these thinkers often analysed the state as it is. Each philosopher has a concept of what right is and what ordering is proper enough for society and government. What is conceptualized as being ‘right’ is more often than not based on some sort of justice and the â€Å"morally good life†, as it could also â€Å"derive from practical reflections about what is required to maintain peace, security and material well-being†. The wo rd â€Å"democracy†was combined of two Greek words and when combined, the word â€Å"democracy†literally means the power of the people. Demos is the common people that are in the state. Athenian democracy differs from Canadian society in many ways, such as who would be qualified as a citizen and who can elect representatives. The Athenian government was more of a direct democracy, a democracy that allows people of the state to decide on initiatives such as to vote on or form consensus. Athens formed a democracy that was not â€Å"fetched by imitationShow MoreRelatedThe Evolution Of Science Theory3565 Words  | 15 PagesScientific knowledge has undergone an evolutionary shift starting with triumphalism and arriving at the present-day modern sciences including theories of evolution and an understanding of DNA as a double-helical molecule. Phenomenal pioneers such as Aristotle, Dalton, and Hippocrates have paved the way for new inventions, discoveries, and theorie s. Triumphalism is the view that the progress of science is somewhat gradual and progressive. Triumphalism is still relevant today because even in scientificRead MoreLife After Death and Philosophical Ideals3354 Words  | 14 Pages Throughout human history, ideas about the afterlife have shaped the psychological ideals of the societies that come into contact with them. Though some might argue that it is science, specifically, that has shaped our way of life beyond all else, this is too narrow an idea because science has only recently become a part of many people’s daily lives. Beliefs about the afterlife have shaped the psychological ideals of whole societies as well as altering the daily lives of theRead MoreThe Importance of Considering Philosophical and Psychological Foundations in Developing a Curriculum.9983 Words  | 40 Pagesconsideration of the nature and needs of the individual, the aspirations and requirements of society, and the process by which the individual incorporates experience. As the study on curriculum is very wide, the audience chosen should be from all walks of life. As proposed by Golan Steven (1982); Interviews were conducted with a state director of business and office educat ion, superintendent, curriculum director, director of vocational education, principal, business education department chairman, businessRead MoreExistentialism vs Essentialism23287 Words  | 94 Pagesphilosophical term which asserts that there is a distinction between essential and non-essential (contingent or accidental) characteristics of an object. Essentialism assumes that objects have essences and that an object’s identity is its essence. Aristotle distinguished between an object’s essence and its existence. Its essence is â€Å"what a thing is.†Its essence is â€Å"that a thing is.†An object’s essence is the collection of all the universals that it possesses, which if it did not possess them, it wouldRead MoreIntercultural Communication of American Tv Series in China6643 Words  | 27 Pages6Outstanding talent of playwrights and smart broadcasting schedule 3.2.7 Humor is a pervasion phenomenon and it has a long history dating back to Plato and Aristotle. Ã¥ ¹ ½Ã© »ËœÃ¨ ¢ «Ã¦Å½ ¥Ã¥ â€"ï ¼Å'ä ¸â‚¬Ã¤ ¸ ªÃ© ²Å"明的ä ¾â€¹Ã¥ Ã¥ ° ±Ã¦Ëœ ¯Ã¤ ¸ å› ½Ã§Å¡â€žÃ§Ë† ±Ã¦Æ'…åâ€"Å"å‰ §Ã¥Å" ¨Ã¦ ¨ ¡Ã¤ » ¿Ã¯ ¼Å'æÅ"‰å ¹ ½Ã© »ËœÃ§Å¡â€žÃ¥â€¦Æ'ç ´ ï ¼Å'所ä » ¥Ã§â€Å¸Ã¦ ´ »Ã¥ ¤ §Ã§Ë†â€ ç‚ ¸Ã¨ ¢ «Ã¦Å½ ¥Ã¥ â€"ï ¼Å'Ã¥ ¹ ¶Ã¤ ¸â€Ã¦Å"‰å ¹ ½Ã© »ËœÃ¥â€¦Æ'ç ´ ï ¼Å'æ ¯â€Ã¥ ¦â€šÃ§Ë† ±Ã¦Æ'…å… ¬Ã¥ ¯â€œ Culture adaptionä ¸ ºÃ¤ »â‚¬Ã¤ ¹Ë†Ã¯ ¼Å'ï ¼Å'原å› æ˜ ¯Ã¦â€"‡åÅ'â€"适å ºâ€Ã¯ ¼Å'æˆâ€"æ˜ ¯Ã¦â€"‡åÅ'â€"è ® ¤Ã¥ Å'ï ¼Å'æˆâ€"æ˜ ¯Ã¤ ¸Å½Ã¤ ¸ å› ½Ã¦Å"‰ä »â‚¬Ã¤ ¹Ë†Ã¥â€¦ ³Ã§ ³ »Ã¯ ¼Å'Ã¥ ¸Ã¥ ¼â€¢Ã¥Å › çâ€Å¸Ã¦ ´ »Ã¥ ¤ §Ã§Ë†â€ ç‚ ¸Ã¤ ¸Å½Ã¤ ¸ å› ½Ã¦â€"‡åÅ'â€"èž Ã¥ ˆç‚ ¹Ã¥Å" ¨Ã¥â€œ ª ä ¼Å¡Ã¨ ¯ é £Å½Ã¦ ¼Ã¨ ¢ «Ã¦Å½ ¥Ã¥ â€"ï ¼Å'ï ¼Å'ä ¼Å¡Ã¨ ¯ ä ½â€œÃ§Å½ °Ã¥Ë† °Ã¨ ¯ è ¨â‚¬Ã¦â€" ¹Ã© ¢ ä » ·Ã¥â‚¬ ¼Ã¨ §â€šÃ§Å¡â€žÃ¥ ½ ±Ã¥â€œ æÅ"‹å ‹æÅ"‰æÆ'… çˆ ¶Ã¦ ¯ ä ¹â€¹Ã©â€" ´Ã§Å¡â€žÃ¦â€žÅ¸Ã¦Æ'… Hå’Å'ä »â€"çš„æÅ" ªÃ¦â€º ¾Ã¨ °â€¹Ã© ¢Ã§Å¡â€žÃ¥ ¦Ë†Ã¥ ¦Ë† Lå’Å'Ã¥ ¿Æ'ç †å ¦Ã§Å¡â€žÃ¥ ¦Ë†Ã¥ ¦Ë† Så’Å'åŸ ºÃ§ £Ã¦â€¢â„¢Ã§Å¡â€žÃ¥ ¦Ë†Ã¥ ¦Ë† ä » ¥Ã¥ Å Lå’Å'Pçš„æ„ŸæÆ'… è ¿ËœÃ¦Å"‰Hå’Å'Ã¥ °Ã¥ º ¦Ã¤ º ºÃ§Å¡â€žÃ¥ Å'æ€ §Ã¤ ¹â€¹Ã¦Æ'…ï ¼Å'ç ‰ç ‰ ä ¸ »Ã© ¢ËœÃ¦â€º ²Ã©â€¡Å'é ¢Ã§Å¡â€žÃ¤ ¸Å"è ¥ ¿Ã¯ ¼Å'ä ½â€œÃ§Å½ °Ã¥Ë† °Ã¦â€"‡åÅ'â€"æâ€" ¹Ã© ¢Ã§Å¡â€žÃ¤ ¸Å"è ¥ ¿Ã¯ ¼Å'æˆâ€"æ˜ ¯Ã¥Å½â€ Ã¥ ²Ã£â‚¬â€šÃ¤ ¸ å› ½Ã¦â€¹ ¥Ã¦Å"‰æ‚ ä ¹â€¦Ã§Å¡â€žÃ¥Å½â€ Ã¥ ²Ã¦â€"‡æ˜Žï ¼Å'çŽ °Ã¤ » £Ã§ §â€˜Ã¦Å ۊ » ¥Ã¥ Šä ¿ ¡Ã¦ ¯Ã¤ ¼ æ’ æˆâ€"æ˜ ¯Ã¥â€¦ ¨Ã§ Æ'Ã¥Å'â€"Ã¥ ½ ±Ã¥â€œ ï ¼Å'æÅ"‰æ› ´Ã¥ ¤Å¡Ã§Å¡â€žÃ¥ ¥ ½Ã¥ ¥â€¡Ã¥ ¿Æ'ï ¼Å'æŽ ¢Ã¦ ±â€šÃ¨ ¥ ¿Ã¦â€" ¹Ã§Å¡â€žÃ¥Å½â€ Ã¥ ²Ã¯ ¼Å'ï ¼Å'çâ€Å¸Ã¦ ´ »Ã¥ ¤ §Ã§Ë†â€ ç‚ ¸Ã¤ » ¥Ã§ §â€˜Ã¥ ¦Ã§Å¡â€žÃ¨ §â€ è §â€™Ã¦ ¥Ã¦ ¼â€Ã§ ¤ ºÃ¥â€"Å"å‰ §Ã¯ ¼Å'è™ ½Ã§â€ž ¶Ã¤ ¼Å¡Ã¥ ¬Ã¤ ¸ 懂ï ¼Å'ä ½â€ æÅ"‰å ¾Ë†Ã¥ ¤Å¡Ã§Å¡â€žÃ¤ ¸Å"è ¥ ¿Ã¯ ¼Å'Read MoreCommon Laboratory Operations5997 Words  | 24 PagesSophie Germain(1766-1831) A French mathematician. Her greatest achievement was her partial proof of Fermats last theorem. She made important contributions in several areas of mathematics in spite of the rules and prejudices barring woman from academic life. she was awarded a prize by the institut de France, for the work on a mathematical theory of elasticity. Sreenivasa Ramanajun(1887-1920) Indian mathematician. Born on December 22,1887 at erode, Tamil Nadu. Passed his matriculation exam in 1903. HeRead MoreHerbert Spencer Essay13142 Words  | 53 Pagesself-interest but was a natural law operating in nature and human society. Not only was competition in harmony with nature, but it was also in the interest of the general welfare and progress. Social Darwinism, or Spencerism, became a total view of life which justified opposition to social reform on the basis that reform interfered with the operation of the natural law of survival of the fittest. Spencer visited the United States in 1882 and was much impressed by what he observed on a triumphal tourRead MoreCompilation of Mathematicians and Their Contributions11615 Words  | 47 Pagesthe number of harmony 4 is the number of justice and retribution (opinion squared) 5 is the number of marriage (union of the ï ¬ rst male and the ï ¬ rst female numbers) 6 is the number of creation 10 is the holiest of all, and was the number of the universe, because 1+2+3+4 = 10. * Discovery of incommensurate ratios, what we would call today irrational numbers. * Made the ï ¬ rst inroads into the branch of mathematics which would today be called Number Theory. * Setting up a secret mystical societyRead MoreIndian English Novel17483 Words  | 70 Pagesmerely patriotic gained a rather contemporary touch with the coming of Mulk Raj Anand, Raja Rao and R.K.Narayan. The social disparity of India which was aptly described by Mulk Raj Anand in his Coolie, the imaginary village life with its entire unedited realities in R.K. Narayan`s Malgudi Days and last but not the least the aura of Gandhism depicted by Raja Rao in his remarkable novel Kanthapura portrayed a whole new India. The need of the `foreigners` depicting India amidst their write ups wasRead MoreA Descriptive Study of the Practice of Music Therapy in Hong Kong17388 Words  | 70 Pagesproject: Raymond Ng, Ivory Chan, Andrea Chan, Joanna Chan and Yasmin Li. It is my great pleasure to know all of them. Last, but by no means least, I wish to t\hank my dear parents for the love and support they have given to me so freely throughout my life, for the musical opportunities that they made available to me as a child, and for teaching me to do my very best in everything I undertake. TABLE OF CONTENT CHAPTER I Definition of Music Therapy Historical Use of Healing in Music Recent Development
Wednesday, May 6, 2020
Fences Play According to Aristotle - 1540 Words
Using Aristotle’s descriptions of Tragedy, I classify Fences by August Wilson as a tragic play. The elements of tragedy, Troy Maxson as a tragic hero, and tragic plot were evident throughout the play. Also, the feeling of catharsis at the end-which is proper of tragedy, was clearly identifiable. I. Fences fits into the tragic genre based on the points given by Aristotle. In Poetics, he defines tragedy as the imitation of an action that is serious and also as having magnitude, complete in itself. †¢ Aristotle’s idea is that the plot has a beginning middle and end and all parts follow each other in concise fashion. o In the beginning, the hero is a garbage man, who previously was given a chance to participate in professional†¦show more content†¦The promise of change is empty; he cares only about change itself†¦The so-called realities of the social world around him matter little, for he dances to an internal rhythm, answering a call for self-authentication that springs from a cultural, even cosmological, dimension.†(Pereira 38) †¢ Aristotle then says in his descriptions, â€Å"Thirdly, character must be true to life: for this is a distinct thing from goodness and propriety, as here described.†o Troy fits a character who would have lived in the 1950’s, having experienced discrimination, an abusive father and a changing society towards African-Americans in that period. o Troy says in Act 1, Scene 3 pg. 37 †¦The white man ain t gonna let you get nowhere with that football noway. Troy’s beliefs ran true to his experiences all through the play. †¢ The last characteristic of a tragic hero is that he must be consistent. o Troy was consistent in his belief that the black man could not get ahead in America. o He behaved and learned from the examples given by his own father. o â€Å"The events of almost a century had underscored the distinction between de jure and de facto. Legally, blacks had been free for ninety four years, but practically they had little or no access to any of the benefits that ordinary citizens take for granted-recourse to the law, equal employment opportunitites, education.†(Pereira 36) III. Troy’sShow MoreRelatedAnalysis Of Fences By August Wilson1340 Words  | 6 Pagesthought of a â€Å"tragic hero†could seem remotely contradicting and perplexing. However, the Greek philosopher Aristotle defines a tragic hero as a character who, for the most part, is a benevolent person, but suffers from his or her hamartia and hubris, which ultimately leads to their downfall and recogni tion of their poor choices, as well as the reversal of their situation. The play Fences written by August Wilson describes the struggles and hardships of an African-American family endeavoring to liveRead MoreSociety Should Increase Accessibility And Make Accommodations For Disable People1670 Words  | 7 PagesPhilosophers Aristotle and John Rawls have two different perspectives on the issue. While, Aristotle argues about the most virtue individual should have the opportunity. Rawls argues about how your identity should not define whether you can be fairly integrated into society. This paper will focus and evaluating both argues on whether society should increase accessibility and make accommodations for disable people. Aristotle, is a philosopher that examines justice and the virtue of a person. Aristotle holdsRead MoreChristopher Marlowe s Dr. Faustus1706 Words  | 7 Pageshero†was defined by Aristotle, and applies to many protagonists in a variety of plays. According to Aristotle’s definition, in order to be classified as a tragic hero, the character must fulfill the following criteria: be born into a noble standing, possess a tragic flaw which causes his downfall, experience an unfortunate event as a result of this flaw, eventually acquire an increased sense of self-awareness, and be pitied by the audience. It is important to note that Aristotle also argued that aRead MoreThe Battle Of Wills Between Rainey And Sturdyvant, The White Owner Of The Recording Studio1773 Words  | 8 Pages When it comes to themes, the main question in the play is whether the band will complete the recording session despite conflicts among various band members and the power struggles betwee n Rainey and Sturdyvant, the white owner of the recording studio. The battle of wills between Rainey and Sturdyvant echoes the historical battle between capitalists and workers; only in this case, Rainey holds on to the goods (her music) that she produces until she gets what she wants from the white producerRead MoreEssay about Issues of Power and Class in Literature1605 Words  | 7 Pagesdifferent ways in literary texts. Some texts seem to pride themselves on the use of such ideas and ideologies, while others somehow subtly absorb the impressions and build them into the work. Nevertheless, conceptions of power and class can still play a huge part in the detailed understanding of a piece of work. Not only this, but they can also portray an authors own feelings and thoughts on things such as the class system and stratification of society. Two highly acclaimed literary texts whichRead MoreSocrates Plato Aristotle and Immanuel Kant Views on Happiness Government Religion and Obj ectivity2508 Words  | 11 Pageshappiness, or better yet, where happiness exists is a question that has been pondered by many great thinkers. Aristotle, Immanuel Kant, Plato and Socrates had quite a bit to say on the subject. All of these well-known philosophers have a road map to happiness, religion, passion and objectivity. Yet, their theories differ ultimately in how to go about attaining each of them. For both Plato and Aristotle the good appears to be happiness. For Plato, this is where his interpretation of the meaning of EudaimonismRead MoreOverpopulation and Its Modes of Persuasion; a Rhetorical Analysis1513 Words  | 7 Pagesthis topic. Fueled by images of societal collapse, hunger and a complete depletion of natural resources, organizations such as The Population Institute seek to control what they view to be out of control population growth. On the other side of the fence, The Population Research Institute and like associations present descriptions of a bright future represented by the continued growth of humanity. They fight what they see as dangerous and disturbing attempts to slow human birth rates. These two organizationsRead MoreCognitive Psychology Definition Paper1387 Words  | 6 Pagesfunctioning (Nagowah, 2009). Unfortunately for cognitive psychology, the connection to the computer accounts for the process but not truly why understanding and creativity occur. Four Milestones in Development Human cognition can be traced back to Aristotle, but the intellectual aspects began with psychological problems that could be solved by the cognitive approaches of William James, Cattell, and Wundt in the late 1800s and early 1900s. Cognitive psychology started to decline when behaviorismRead MoreA Compilation of Essays on People and Their Personalities4701 Words  | 19 Pagessomething) has been described in great detail. The incident described is of people enjoying themselves by having a party. There are the inmates of the house we also have the guests and the merry making continues till late hours of the morning. According to Matida she had seen the revelers leave the house in a car at 4o’clock in the morning. Probably the din and bustle created by the neighbors’ was not seen in good light. The question raised is can we have fun and frolic at the cost of disturbingRead MoreHumanities Test4641 Words  | 19 PagesA famous speech by Shakespeares Falstaff questions the value of: honor 1.  ( T or F ) Aristotle considered plot more important than character or thought. True 2.  ( T or F ) Aristotle was both a theater critic and a philosopher. True 3.  Aristotles famous analysis of tragedy is found in a work called: The Poetics 4.  Aristotles work on comedy is how long? 5 acts long 5. What did the Commedia dellearte specialize in? 6.  What is satire? a literary genre or form, although in practice
Investment and Portfolio Management for Benchmark - myassignmenthelp
Question: Discuss about theInvestment and Portfolio Management for Index Benchmark. Answer: Index benchmark sets point of reference for portfolio evaluation on stocks.1nvestors are mostly provided with information on stocks that they use to contrast the performance of their individual investment portfolio with the mean overall market performance in the same sector.Different states use specific benchmark index for track performance as illustrated below; In Australia, the fixed income index series is what is used as the benchmark for measuring the performance of the bond while the money market is always benchmarked by Australian Bank Bill Index Jones(2008.Pg 200). Dow Jones U.S. Financials Index is that index benchmark applicable to the United States region for measurability performance of stocks and market at large however it is divided into Dow Jones US Select Investment Index form and that of Dow Jones U.S Lpez(2007.Pg 298). Select Insurance Index depending on the market field. Hong Kong stock market, especially on funds, is seen to be benchmarked by an index known as Hang Seng Index (HIS), this index measures performance is used to track economic performance of stocks in Hong Kong Liu(2009.Pg 60). Vanguard FTSE Japan Index ETF is the point of reference of equities in Japan and it is used to evaluate market performance of large and medium-size stocks in Japan Stock Market. United Kingdom is likewise seen to have its stock benchmarked by an index known as FTSE All-Share Index that serves the measurability performance of among the largest companies in London Stock Exchange. Finally in China MSCI EM Index is what sets the point of reference of stocks in China it is seen to control and measure stock performance in China. Stable fund assets are referred to as defensive assets since they procure stable and less risk income basically on interest payments made. Stable fund assets are featured to be less tolerance for risk and high market volatility Faff(2005.Pg 260). This asset basically suits short-term investors and they include cash and fixed interest based investments that are mostly seen to generate less return. A balanced fund, on the other hand, involves combination mixture of stocks components with the aim of mixture safety stand on investors. The asset class in balanced funds includes bonds especially the treasury bonds that are deemed less volatile. Equities used as investment objective likewise forms part of balanced fund asset class Bauer(2005.Pg 1760). Growth fund is featured to suit development and growth of investment, although they have the aggregate potential of earning high returns they likewise have subsequent high levels of risks over projects being taken for a long time. Securities shares representing ownership in companys forms part of growth asset class Ferreira (2013.Pg 500). Likewise, the class includes infrastructures, listed and unlisted properties the likes of trusts, real estates and private equities investments that are deemed exist able for growth purpose Haiss(2008.Pg 420) Ideally, duration of a security is deemed to be the average maturity life of the security, it is further prudent to note that the interest rate is flexible upon duration such that the sooner the redemption or payment maturity of a security the lower the interest and vice versa. Duration is hence termed as the direct measure of the interest rate elasticity because proportion adjustment of duration numerically the more likely the price rate of the security changes more the same to the interest rate Brewer(2007.Pg 410). Detailed understanding can be approved upon the arithmetic use of formulae as illustrated; DP=-D {dR/1+R) P, where R=Interest Rate, D=Price percentage change, P=Price of a security. From the formulae, we can comfortably state that a known security duration leads to price changes as a result of change in interest rates Breeden(2009.Pg 40) Conclusively it is prudent to state that investors should understand that security duration is measured and determined with the analysis that if interest rates increases, of course, the duration of maturity decreases and hence the yields are lowered as the prices get lower and vice versa. Likewise, there is the need to realize that decline in interest rates goes hand in hand with higher durations securities thus causing the decline in yields as a result of the change in prices upwards. It is therefore transparent that there is huge gain or benefit on investing in the higher duration securities than those of lower maturity duration Van (2005.Pg 121) =0.1/2=0.05, =0.05*1000=$50 +1+0.05=1.05 =$1000+$50=$1050 it is to be mature at year 11*2=22 =To get the cash flow you multiply by present interest factor at =Yr. =year multiply by bond yield multiply by present interest factor at that year =Yr. 14 =14*50*0.505=353.55 = Yr. 15 =15*50*0.481=360.77 =Yr. 16=16*50*0.458=366.49 =Yr. 17 =17*50*0.436=370.86 = Yr. 18 =18*50*0.416=373.97 =Yr. 19=19*50*0.396=375.94 =Yr. 20=20*50*0.377=376.89 =Yr. 21=21*50*0.359=376.89 =Yr. 22=22*1050*0.342=7896.74 =353.55+360.77+366.49+370.86+373.97+375.94+376.89+376.89+7896.74=13821.15 Duration= (13821.15/ 1000/2) = 6.91 While Modified duration = D/ (1 + R/2) Hence=6.91/ (1+0.05) =6.581 MD=6.581 Years For Dollar Duration= MD x P, where MD=Modified Duration and P=the principal amount of the bond =6.581*$1000=$6581 (b) In case the coupon rate increases by 0.10% the price change of the bond is likewise expected to decrease as being illustrated here below, Price Change Estimation= the negative dollar duration multiply by the change of the interest rate. Negative dollar duration=-$6581 Change in interest rate=0.1/100=0.001 = -$6581*0.001= -$6.581 Therefore the new price of the bond is expected to be=$1000-$6.581=$993.42 If the interest rate is reduced by 0.20% Lee(2011.Pg 450) there will be increase in price of the bond as calculated below; Negative dollar duration=-$6581 Change in interest rate=0./100=-0.002 It is negative since its decreasing = -$6581*-0.002=+13.162, Thus the new price should be=$1000+$13.162=$1013.16 (c)The actual prices of the bond at 0.10% increase and 0.20% Interest Rate Change Price Estimated Actual Price Error 0.10% increase $993.42 $ 993.35 0.07 0.20% decrease $1013.16 $1013.36 -0.2 The errors mostly result from the non-consideration of convexity at the time of measuring and determining duration elasticity Harmantzis(2007.Pg 120). Paid Dividend =20cents per share, the par value=20cent Rate=0.16, therefore we can formulate Share Price=Dividend Paid dividend by the difference between the rate and the growth thus; Price=20*(1+0.08) ^1(16%-8%) =21.6/0.08=270cents in year 1 Therefore the par value of the share at year one is 270cents The growth of dividend will be8% Value of Share 5yrs=270 cents (1+0.08) raised to power 6 divide by the change of rate from 16% to 8% Value in Five years=20*(1.08) ^6=31.74cents =31.74cents/ (16%-8%) =/8% =396.72cents By assuming that the dividend is expected to grow at 20% At par the dividend was 20cents now it is to grow by 20%, therefore, the dividend will rise to this should be done yearly = yr. 1=20cents (1+0.2) ^1/ (1+0.16) ^1=20.689, =yr. 2=20cents (1+0.2) ^2/ (1+0.16) ^2=21.4, =yr. 3=20cents (1+0.2) ^3/ (1+0.16) ^3=22.1, =20.689+21.4+22.1=64.17 We further need to add the present value of the dividend=467/1.16^3=299.35 to the sum of the 3year dividend change value; =299.35+64.17=363.5 cents. Therefore the selling price or issue price today of the share stands at 363.5cents. We can therefore generally conclude by stating that equity stocks are always subjected to the time value of money for purpose s of measurability Zhang (2009.Pg 5100). Portfolio analysis generally majors on diversifying risks through setting up investments strategies after conducting performance evaluation on the existing market portfolio. It involves mitigation of risks under the umbrella of maximizing returns. Most investments are prone to risks and hence greater strategies and plan has to be built on strong portfolio management evaluation so as to curb risks and its volatility. It is therefore important to ensure that before proceeding to partake any investment the need to analyze return, duration, risks and entire field of performance. References Bauer, R., Koedijk, K., Otten, R. (2005). International evidence on ethical mutual fund performance and investment style. Journal of Banking Finance, 29(7), 1751-1767. Breeden, D. T. (2009, December). The Use and Misuse of Models in Investment Management. In CFA Institute Conference Proceedings Quarterly (Vol. 26, No. 4, pp. 36-45). CFA Institute. Brewer, E., Carson, J. M., Elyasiani, E., Mansur, I., Scott, W. L. (2007). Interest rate risk and equity values of life insurance companies: A GARCHM model. Journal of Risk and Insurance, 74(2), 401-423. Faff, R., Gallagher, D. R., Wu, E. (2005). Tactical asset allocation: Australian evidence. Australian Journal of Management, 30(2), 261-282. Ferreira, M. A., Keswani, A., Miguel, A. F., Ramos, S. B. (2013). The determinants of mutual fund performance: A cross-country study. Review of Finance, 17(2), 483- 525. Haiss, P., Smegi, K. (2008). The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis. Empirica, 35(4), 405-431. Harmantzis, F. C., Tanguturi, V. P. (2007). Investment decisions in the wireless industry applying real options. Telecommunications Policy, 31(2), 107-123. Jones, S., Van der Laan, S., Frost, G., Loftus, J. (2008). The investment performance of socially responsible investment funds in Australia. Journal of Business Ethics, 80(2), 181-203. Lee, H. W., Xie, Y. A., Yau, J. (2011). The impact of sovereign risk on bond duration: Evidence from Asian sovereign bond markets. International Review of Economics Finance, 20(3), 441-451. Liu, W., Morley, B. (2009). Volatility forecasting in the hang seng index using the GARCH approach. Asia-Pacific Financial Markets, 16(1), 51-63. Lpez, M. V., Garcia, A., Rodriguez, L. (2007). Sustainable development and corporate performance: A study based on the Dow Jones sustainability index. Journal of Business Ethics, 75(3), 285-300. Luckert, M. K., Campbell, B. M. (Eds.). (2012). Uncovering the hidden harvest: valuation methods for woodland and forest resources. Routledge. Van Vuuren, G. W. (2005). Duration as a strategic interest rate risk management tool infinancial institutions (Doctoral dissertation, North-West University). Zhang, B. Y., Zhou, H., Zhu, H. (2009). Explaining credit default swap spreads with the equity volatility and jump risks of individual firms. The Review of Financial Studies, 22(12), 5099-5131.
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