Showing papers on "Individual capital published in 1971"

Towards an International Capital Market

Abstract: This paper discusses the growth and development of the international capital market during the past decade, considers whether it can be said that a genuine international capital market now exists, and discusses the advantages and disadvantages of one integrated capital market transcending national economies. ‘Capital markets’ involve the mobilisation of savings by those who want or are willing to accept financial claims, for investment (or consumption) by others who are willing to accept financial liabilities or share their equity. Capital markets are usually distinguished from ‘money markets’ by the maturity of the claims that are traded there, the capital market referring to transactions in claims with maturities in excess (definitionally) of one year, and usually in excess of five years, although any clear distinction between the two must be arbitrary, for these markets may be, and typically are, closely related. Medium-term bank lending, for example, involves maturities in excess of one year but ordinarily does not give rise to marketable securities.

Investment in Human Capital and the Appropriate Discount Rate

Abstract: This study develops a theory of investment in human capital which rests on the assumption that an individual will choose to remain in school if the present value of the future income stream associated with additional education exceeds that associated with the present level of education. The paper hypothesizes that the marginal rate of time preference is a function of one's socioeconomic status and thereby provides a systematic framework for explaining dropout rates.

Toward a political economy of information capital.

Abstract: 2

Communicating Investment Proposals to Corporate Decision-Makers

Abstract: Effective communication of capital investment proposals can be critically important to an engineer's professional development. Engineers frequently have difficulty developing this effective communication, however, primarily because they lack a clear understanding of the corporate decision-makers' commercial perspective and related informational needs. The decision-makers' perspective and the capital budgeting process are explored and several communication strategies are suggested to assist the engineer in more effectively presenting his capital investment proposals. The value of communication technique and the importance of recognizing and dealing effectively with certain psycho-social factors in inter-personal communication are briefly described.