TCE asserts that transactions have distinct characteristics that explain how firm’s boundaries are drawn and when determine whether “market or hierarchy” will have the lower transaction costs in various circumstances. Asset specificity‚ uncertainty and frequency are the three variables of TCE that are used to characterise transactions. Williamson (1979) suggested four main forms of asset specificity‚ namely site specificity‚ physical asset specificity‚ dedicated assets and human asset specificity
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high liquidity with low risk while loans are illiquid with higher risk. Financial intermediaries can transform the assets with different liquidity features through diversification of their portfolio. Transaction cost incurred because of time and money spent in performing financial transactions. Prior to granting loans‚ search costs is incurred by both the lenders and borrowers to search for the suitable counterparty. Verification cost is then incurred by lenders to verify the accuracy of information
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I - A. " Representational faithfulness is accomplished when transactions and events affecting the entity are presented in financial statements in a manner that is in agreement with the actual underlying transactions and events" (CICA‚ Financial statement Concepts 1000.21 (a)‚ 2003). It means that all of information in the financial statement such as numbers and descriptions must be factual. The independent auditors checked the computer ID tags on each piece of equipment to confirm the actual numbers
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Hedging Currency Risks at AIFS The American Institute for Foreign Study (AIFS) is a foreign exchange program organization that provides 50‚000 students the opportunity to study abroad. AIFS serve American students traveling abroad to Europe‚ China‚ Mexico‚ and other locations. Therefore‚ AIFS receive cash inflows in dollars while they pay outflows in mostly Euros and British Pounds. The organization had $200 million in annual revenues. AIFS provides two main divisions: the College division primarily
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Impact of Prenatal Cocaine Exposure Prenatal nicotine exposure has been found to have avoidable effects on children and their mothers. Studies have shown that prenatal exposure can cause not only mental‚ but also physical harm on children that can ultimately cause life-course harm (Cho‚ Frijters‚ Zhang‚ Miller & Gruen‚ 2013). For example‚ a study resulted that nicotine exposure during prenatal can have damaging effects on the development of drugs in the offspring and ultimately cause wheezing in
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SUMMARY On – the – job training is one way of obtaining the proper exposure‚ experience and education. On – the – job training does not only develop the intrapersonal skills of an individual but also his/her interpersonal skills. Since the on – the – job trainee is exposed to the different environment of having a job‚ it makes him/her ready as to whatever constraints he/she will be facing in the actual work in the future. Exposure‚ experience and education – these are the essential characteristics
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caused by the Environmental exposure MADE BY- [Type the author name] [Year] Environmental Diseases In epidemiology‚ environmental disease is disease caused by environmental factors that are not transmitted genetically or by infection. Apart from the true monogenic genetic disorders‚ environmental diseases may determine the development of disease in those genetically predisposed to a particular condition. Stress‚ physical and mental abuse‚ diet‚ exposure to toxins‚ pathogens‚ radiation
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I have chosen to compare ‘Exposure’ by Wilfred Owen and ‘Bayonet Charge’ by Ted Hughes. Owen uses two powerful similes in Exposure. The first being in line 7‚ equating the harsh wind to ‘twitching agonies of men’ is a gruesome comparison that conveys a natural‚ merciless phenomenon in terms of vivid human suffering. In complete contrast with the reality of the poem’s setting‚ the touch of snow is equated with an image of lying under a blossom-laden tree in England. The home fires contain glowing
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Toyota’s European Operating Exposure 1. Why do you think Toyota had waited so long to move much of its manufacturing for European sales to Europe? By 2001‚ Toyota’s operating losses in Europe had reached 9.9 billion Yen. Much of this loss was due to Toyota’s operating exposure which was a result of the sliding value of the euro with respect to the Japanese Yen. Between early 1999 and early 2001 (2 year ~ medium-run time horizon)‚ the euro had fallen by approximately 28% with respect to
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Essay preview International Baccalaureate World Literature Analysis - "Exposure" by Wilfred Owen The poem "exposure" by Wilfred Owen is written in Winter of 1917. It portrays the message of the real enemy of the soldiers being the cold and icy conditions. Moreover‚ it provides us with a lively description of the persistent cold and awful conditions during one of the worst winters in the first world war. It shows that most of the soldiers were exposed rather than shot by enemies. The poem portrays
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