The forex market is a complex, evolving, and a non-linear dynamical system, and its forecast is difficult due to high data intensity, noise/outliers, unstructured data and high degree of uncertainty. However, the exchange rate of a currency is often found surprisingly similar to the history or the variation of an alternative currency, which implies that correlation knowledge is valuable for forex market trend analysis. In this research, we propose a computational correlation analysis for the intelligent correlation extraction from all available economic data. The proposed correlation is a synthesis of channel and weighted Pearson's correlation, where the channel correlation traces the trend similarity of time series, and the weighted Pearson's correlation filters noise in correlation extraction. In the forex market analysis, we consider 3 particular aspects of correlation knowledge: (1) historical correlation, correlation to previous market data; (2) cross-currency correlation, correlation to relevant currencies, and (3) macro correlation, correlation to macroeconomic variables. While evaluating the validity of extracted correlation knowledge, we conduct a comparison of Support Vector Regression (SVR) against the correlation aided SVR (cSVR) for forex time series prediction, where correlation in addition to the observed forex time series data is used for the training of SVR. The experiments are carried out on 5 futures contracts (NZD/AUD, NZD/EUD, NZD/GBP, NZD/JPY and NZD/USD) within the period from January 2007 to December 2008. The comparison results show that the proposed correlation is computationally significant for forex market analysis in that the cSVR is performing consistently better than purely SVR on all 5 contracts exchange rate prediction, in terms of error functions MSE, RMSE, NMSE, MAE and MAPE. However, the cSVR prediction is found occasionally differing significantly from the actual price, which suggests that despite the significance of the proposed correlation, how to use correlation knowledge for market trend analysis remains a very challenging difficulty that prevents in practice further understanding of the forex market. In addition, the selection of macroeconomic factors and the determination of time period for analysis are two computationally essential points worth addressing further for future forex market correlation analysis.

The forex market is a complex, evolving, and a non-linear dynamical system, and its forecast is difficult due to high data intensity, noise/outliers, unstructured data and high degree of uncertainty. However, the exchange rate of a currency is often found surprisingly similar to the history or the variation of an alternative currency, which implies that correlation knowledge is valuable for forex market trend analysis. In this research, we propose a computational correlation analysis for the intelligent correlation extraction from all available economic data. The proposed correlation is a synthesis of channel and weighted Pearson's correlation, where the channel correlation traces the trend similarity of time series, and the weighted Pearson's correlation filters noise in correlation extraction. In the forex market analysis, we consider 3 particular aspects of correlation knowledge: (1) historical correlation, correlation to previous market data; (2) cross-currency correlation, correlation to relevant currencies, and (3) macro correlation, correlation to macroeconomic variables. While evaluating the validity of extracted correlation knowledge, we conduct a comparison of Support Vector Regression (SVR) against the correlation aided SVR (cSVR) for forex time series prediction, where correlation in addition to the observed forex time series data is used for the training of SVR. The experiments are carried out on 5 futures contracts (NZD/AUD, NZD/EUD, NZD/GBP, NZD/JPY and NZD/USD) within the period from January 2007 to December 2008. The comparison results show that the proposed correlation is computationally significant for forex market analysis in that the cSVR is performing consistently better than purely SVR on all 5 contracts exchange rate prediction, in terms of error functions MSE, RMSE, NMSE, MAE and MAPE. However, the cSVR prediction is found occasionally differing significantly from the actual price, which suggests that despite the significance of the proposed correlation, how to use correlation knowledge for market trend analysis remains a very challenging difficulty that prevents in practice further understanding of the forex market. In addition, the selection of macroeconomic factors and the determination of time period for analysis are two computationally essential points worth addressing further for future forex market correlation analysis.

This diploma thesis deals with possibility of a Czech company to enter Slovak market. The company specializes in production and distribution of pub quizzes. Aim of the thesis is to evaluate whether entering Slovak market would be profitable or not. This possibility is judged on the basis of a comprehensive business plan. The theoretical part characterizes individual parts of a business plan in general. The practical part follows up specific parts of the business plan in question. The final part includes evaluation of the business plan and provides recommendation together with final decision about its realization.

Competitive bidding, where the project is awarded to the lowest bidder, is a basic part of the construction industry. This method of project delivery is designed to promote healthy competition in an attempt ensure the lowest price for the project. A contractor knows that lowering a bid price increases his probability of being awarded the project. However, without a clear understanding of the market in which he is competing, he can not know how low he should bid in order to win. One of the most important competitive forces in a competitive bidding market is the how low the contractors are willing bid, i.e., how aggressively they are pursuing the project. Contractors need a simple way to examine the level of aggressiveness in their market. The purpose of this research is to develop a methodology to enable contractors to better understand this level of aggressiveness. The level of aggressiveness is quantified by the ratio of the low bid to the pack price, where the pack price is defined as the lower of the two bids that are closest together. The examination of two competitive bidding markets--the Virginia Department of Transportation market between 1996 and 1998 and the Tennessee Department of Transportation market from 1996 to 1998--tests the validity of the methodology. The methodology for estimating the level of aggressiveness in a competitive bidding market produces a set of success curves and charts, which can be used by contractors to optimize their competitive bid amounts for future projects. / Master of Science

<p>This thesis aims at explaining why the UK residential electricity (retail) market enjoys high gross margins in comparison to Vattenfall’s markets in for example Sweden. Gross margin is the difference between selling price and purchase costs, in this case the wholesale electricity price. The wholesale market essentially affects all retailers in the same way and can be analysed separately, therefore it is of great interest to analyse how there can be such a wide gap between the end-user electricity price and the wholesale price. Since the UK electricity market is seen as a forerunner to other markets, being an early adopter of liberalisation of a previously state-controlled industry and seen as the most competitive market in the world, it seems a bit odd that retail electricity prices are not pushed down to a margin cost level as is expected on a perfectly competitive market.</p><p>The report concludes that there are substantially higher gross margins on the UK market and then goes on to determine which the underlying drivers to this situation are. There are two underlying socio-cultural factors that have driven the development of the market. First it is the history of deregulation that brought lower end-user prices but also bad service experiences. Secondly, the UK public has a market-friendly mentality and acceptance to how the industry works. The result is that focus has moved away from price and there is little public worry about the market being too concentrated. Two more underlying drivers are related to the properties of the market: the linkage between gas and electricity that has lessened the impact of the electricity price and the UK trading system that makes it hard for new retailers to enter the market and put a pressure downwards on prices and gross margins.</p><p>These four underlying drivers have created a market situation where price has not been perceived as the only value component of electricity and where the focus on price and gross margins has been overshadowed by other issues in the public debate. The troublesome history have produced a ‘demand for brand’ that signals safety, which has helped building substantial barriers of entry and survival for non-incumbents retailers. Together with a highly consolidated market structure, a handful of large retailers are enabled to dominate the market and push up prices with little fear of retribution from competitors or society.</p> / The attachment F is data corrections of figures 1.7 and 1.8.

<p>Biovitrumis is one of the larger biopharma companies in Euprope and conducts research in different niche areas. One of the interested areas for Biovitrum is Exocrine Pancreatic insufficiency. Biovitrum has a candidate drug (product D) in early development process for treatment of. Exocrine Pancreatic Insufficiency.</p><p>The Drug development is a long, complicated and costly process. Therefore, it is very important for managers to know the commercial value of a future drug. The purpose of this report is to develop a model for evaluation of candidate drug in early development phase and analysis of market potential for product D for treatment of Chronic pancreatitis. Chronic pancreatitis is disease within sub group of Exocrine Pancreatic Insufficiency.</p><p>The deductive reasoning approach and quantitative data is used in this report. Only secondary data is collected for this study. The sources of secondary data are research papers, Google Pub-Med database and consultant companies.</p><p>A new model is developed for evaluation of candidate drug .This model can analyse the market potential, unmet medical need, and calculate net present values. This study shows that there is unmet medical need in chronic pancreatitis. The result also shows that product D has comparative advantages over present products in the market and future competitors. The product D can full fill the unmet medical need for treatment of Chronic pancreatitis</p>

Biovitrumis is one of the larger biopharma companies in Euprope and conducts research in different niche areas. One of the interested areas for Biovitrum is Exocrine Pancreatic insufficiency. Biovitrum has a candidate drug (product D) in early development process for treatment of. Exocrine Pancreatic Insufficiency. The Drug development is a long, complicated and costly process. Therefore, it is very important for managers to know the commercial value of a future drug. The purpose of this report is to develop a model for evaluation of candidate drug in early development phase and analysis of market potential for product D for treatment of Chronic pancreatitis. Chronic pancreatitis is disease within sub group of Exocrine Pancreatic Insufficiency. The deductive reasoning approach and quantitative data is used in this report. Only secondary data is collected for this study. The sources of secondary data are research papers, Google Pub-Med database and consultant companies. A new model is developed for evaluation of candidate drug .This model can analyse the market potential, unmet medical need, and calculate net present values. This study shows that there is unmet medical need in chronic pancreatitis. The result also shows that product D has comparative advantages over present products in the market and future competitors. The product D can full fill the unmet medical need for treatment of Chronic pancreatitis

This thesis aims at explaining why the UK residential electricity (retail) market enjoys high gross margins in comparison to Vattenfall’s markets in for example Sweden. Gross margin is the difference between selling price and purchase costs, in this case the wholesale electricity price. The wholesale market essentially affects all retailers in the same way and can be analysed separately, therefore it is of great interest to analyse how there can be such a wide gap between the end-user electricity price and the wholesale price. Since the UK electricity market is seen as a forerunner to other markets, being an early adopter of liberalisation of a previously state-controlled industry and seen as the most competitive market in the world, it seems a bit odd that retail electricity prices are not pushed down to a margin cost level as is expected on a perfectly competitive market. The report concludes that there are substantially higher gross margins on the UK market and then goes on to determine which the underlying drivers to this situation are. There are two underlying socio-cultural factors that have driven the development of the market. First it is the history of deregulation that brought lower end-user prices but also bad service experiences. Secondly, the UK public has a market-friendly mentality and acceptance to how the industry works. The result is that focus has moved away from price and there is little public worry about the market being too concentrated. Two more underlying drivers are related to the properties of the market: the linkage between gas and electricity that has lessened the impact of the electricity price and the UK trading system that makes it hard for new retailers to enter the market and put a pressure downwards on prices and gross margins. These four underlying drivers have created a market situation where price has not been perceived as the only value component of electricity and where the focus on price and gross margins has been overshadowed by other issues in the public debate. The troublesome history have produced a ‘demand for brand’ that signals safety, which has helped building substantial barriers of entry and survival for non-incumbents retailers. Together with a highly consolidated market structure, a handful of large retailers are enabled to dominate the market and push up prices with little fear of retribution from competitors or society. / The attachment F is data corrections of figures 1.7 and 1.8.

In the beginning stage of economic development in Taiwan, the market was lack of funding and the capital market is immature. The majority of financial institutions are public banks. With the development of financial liberalization, Taiwan government lifted the restrictions on establishing private commercial banks on 1991. Following that, public banks face challenges of the fierce competition with private banks, comply with policy of the authorities to authorize special policy loans or generally take over insolvent banks. The public banks were under such severe challenges and the under performing problems were expected to be solved only by privatization. Consequently, following the Act Governing the Conversion of State Owned Enterprises into Private Enterprises entered into effect in 1992, the Privatization of public banks in Taiwan began. Since the Asia finance turmoil occurred, the operation of financial institution significantly deteriorates. The overall Non-Performing Loan Ratio is high due to low financial institution loan quality. In addition, Taiwan banks face a severe problem that whether the current overall domestic financial market is too small for all the current financial institutions? Is the operation scale of Taiwan banks competitive internationally? Presuming the current operation scale of Taiwan banks is weak among international competition, what are the development alternatives for Taiwan banks? The research scope of this study is based on the current general operations, merger cases, and the development strategies applied in the second stage financial reform of Taiwan banks. In the case study, the merger case targeted is the most successful merger in the second stage financial reform, where the financial product development is improved by the merger synergy. In addition, the policy goals to reduce the number of government-owned banks by half and facilitate introduction of foreign funding are realized, which contributes to Taiwan economic development. This study first introduces the overall development of public banks, followed by case studies of operating performance and financial data on Taiwan Cooperative Bank and the Farmers Bank of China. This study is conducted through the operating performance analysis on two targeted banks and overall banks. The analysis includes return on assets, return on equity, earning per share. Also the analysis includes the comparison analysis of market competition status with financial holding companies, which is critical reference to evaluate the development potential when the Taiwan Cooperative Banks establishes a financial holding company in the future. The analysis further includes combined market analysis, and SWOT analysis to compare the strengths, weaknesses, opportunities and threats of these two public banks.

The area surrounding Capital Metro’s Martin Luther King, Jr. (MLK) MetroRail Station was designated a Transit-Oriented Development (TOD) zone and a plan was published in 2009. However, to date there has been very little development, and the development that has occurred is significantly different from what is called for by the plan. This report examines some of the difficulties of implementing TOD in Austin and the factors that could contribute to successful TOD projects. A market analysis of the MLK Station Area explores the economic feasibility of developing land there to its highest and best use. It concludes that the general dearth of TOD in Austin and lack of dense, mixed-use development in the MLK neighborhood make the kind of development called for in the MLK Station Area Plan excessively risky for developers. However, a more conventional multifamily development would be feasible, and increased station-area density could contribute to the success of future TOD. / text