CSR Disclosure merupakan suatu bentuk kepeduliaan perusahaan terhadap masyarakat dan lingkungan. Stake holder maupun shareholder akan menilai bahwa sebagai entitas yang selalu peduli masalah sosial Pada level ekonomi mikro, intellectual capital mengacu pada sumber daya berupa nilai tambah bentuknya tidak berwujud bagi organisasi. Intellectual ini bisa berupa: human (misalnya: keterampilan, peng...

Increased concern for the environment has increased the number of investment opportunities in mutual funds specialized in promoting responsible environmental attitudes. This paper examines the performance and risk sensitivities of US green mutual funds vis-à-vis their conventional peers. We also analyze and compare this performance relative to other Socially Responsible Investing (SRI) mutual f...

Managing digital assets not only involves internal distribution, accessibilities and efficiencies, but also wider protections involved when derivative works or repurposings result from external distributions. The inherent polysemy of media artefacts has consequences for the reuse of such artefacts in multimedia systems. The multiplicity of possible meanings of a single media artefact depends on...

Museums and galleries have in recent years spent considerable time and effort in digitisation projects, yet the software resources available to fully explore their collections are still largely unsatisfactory. In a joint project between the new media company Deep Visuals, the Scott Polar Research Institute, and Anglia Ruskin University we are developing a new browsing system aimed at enabling m...

This paper examines the conditions required to guarantee positive prices in the CAPM. Positive prices imply an upper bound on the equity premium. This upper bound depends on the degree of diversity of firms’ fundamentals, and it is independent of investors’ preferences. In economies with realistically diverse assets the only positive-price CAPM equilibrium theoretically possible is a degenerate...

We consider the standard discrete-time model of a frictionless financial market and show that the law of one price holds if and only if there exists a martingale density process with strictly positive initial value. In contrast to the classical no-arbitrage criteria, this density process may change its sign. We also give an application to the CAPM.

In opaque pricing certain characteristics of the product or service are hidden from the consumer until after purchase, transforming a differentiated good into somewhat of a commodity. Opaque pricing has become popular in service pricing as it allows firms to sell their differentiated products at higher prices to regular brand loyal customers while simultaneously selling to non loyal customers a...

The focus of this paper is to provide an analytical framework which can be used to investigate how financial risks affect the values of interconnected supply chain firms from a network perspective, and how financial risks affect the supply chain firms’ profitability as well as the cash and credit transactions. In particular, we develop a variational inequality equilibrium model in conjunction w...

For one–period projects under certainty, the notion of Net Present Value (NPV) formally translates the notion of economic profit, where the discount rate is the cost of capital. Under uncertainty, the cost of capital is the expected rate of return of an equivalent-risk alternative that the investor might undertake and is often found by making recourse to the Capital Asset Pricing Model. This pa...