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In this chapter we concentrate at the most popular model for convertible bond (CB) valuation in a one-factor, stochastic underlying stock price setting. Through the last decade, the Tsiveriotis–Fernandes model (1998) has become a widely commented model that involves the state of default of the issuer of the CB. A routine approach to the solution of this model is the usage of methods of finite difference schemes (FDS). However, for many people trained in finance these methods are not very intuitive and they tend to ignore them and prefer to use binomial-tree approach as more intuitive technique. For that reason, our primary focus is to highlight the answer of the so far unanswered question: Does the binomial-tree approach to CBs provide accurate pricing, hedging, and risk assessment? We show on a set of representative examples that by using binomial-tree methodology one is unable to provide a consistent analysis of the pricing, hedging, and risk assessment. We start the chapter with the basics of CBs and CB market. We then explain the implementation of TF model within binary-tree approach. We conclude the chapter with performance valuation of binomial-tree approach showing unexpected behavior in practice areas such as pricing (profile of CB's price versus underlying stock price), hedging (performance of CB's delta, gamma, and convertible arbitrage strategy versus underlying stock), and risk assessment (Monte Carlo VaR with respect to the underlying).

On Inauguration Day 2017, Milo Yiannopoulos gave a talk sponsored by the University of Washington College Republicans entitled “Cyberbullying Isn’t Real.” This chapter is based on participant-observation conducted in the crowd outside the venue that night and analyzes the violence that occurs when the blurring of the boundaries between “free” and “hate” speech is enacted on the ground. This ethnographic examination rethinks relationships between law, bodies, and infrastructure as it considers debates over free speech on college campuses from the perspectives of legal and public policy, as well as those who supported and protested Yiannopoulos’s right to speak at the University of Washington. First, this analysis uses ethnographic research to critique the absolutist free speech argument presented by the legal scholars Erwin Chemerinsky and Howard Gillman. Second, this essay uses the theoretical work of Judith Butler and Sara Ahmed to make claims concerning relationships between speech, vulnerability, and violence. In so doing, this chapter argues that debates over free speech rights on college campuses need to be situated by processes of neoliberalization in higher education and reconsidered in light of the ways in which an absolutist position disproportionately protects certain people at the expense of certain others.

Ask leaders what their organizations need more of to thrive, and many will identify collaboration. Yet many collaborative efforts fail. A focus on the inner workings of teams, to the exclusion of the ecosystem in which teams work, has masked the importance of a collaborative context. We undertook a single case study of an exemplar firm with the intent of offering a nuanced illustration of the collaborative workplace. We illustrate how three contextual factors related to work, relationships, and behaviors shift the setting from a place where collaboration is hard to do, to one that embodies collaboration as a widespread competence.

As a company that has continuously achieved business innovation, Apple in the United States has successfully applied strategic knowledge creation to produce a series of products that integrate various digital devices as well as diverse contents and applications, such as the iPod, iPhone, and iPad, based on a corporate vision of a digital hub concept. At the same time, the redefining of corporate boundaries that expanded Apple’s business in a horizontal direction from the Macintosh PC business to the delivery of music, smartphones, and tablets is also an indication of the evolution of a corporate vision involving Apple’s strategic transformation. This chapter presents the strategic and creative processes that enabled practitioners, including the late Steve Jobs, to demonstrate “strategic innovation capability” by “holistic leadership” at every level of management at Apple and successfully achieve a business ecosystem strategy through “creative collaboration” across diverse boundaries within and outside the company.

Close interaction between universities, industries, and governments has given rise to hybrid organizations incorporating economic development alongside scientific research and higher education. We will approach this phenomenon and the related organization-theoretical problems by looking at two cases of discipline making to discuss the potential of the concept of organizational field introduced by the neoinstitutionalist school of organization theory. As this concept presumes the Bourdieusian theory of social fields, we will consider possibilities of reflective contesting of the states of doxa in discipline making in regard to organizational aspects of disciplinary boundaries in the university-centered system of higher education, its demarcation to business and schooling, as well as to the related ideology of professionalism and science policy. We will also comment on the Bourdieusian conceptuality inscribed in the neoinstitutionalist metaphor of organizational field from the perspective of systems theory inspired by Luhmann. This is because we believe that further development of the semantic focus in the problem of disciplinary boundaries would benefit from Luhmannian tools designed to grasp organizations as social systems that facilitate interrelations of differentiated function systems relevant for discipline making in current technoscience.

Consider two images of gender and power in Indonesia and much of Southeast Asia: the market seller and the king.¹ These images, stereotypical and contradictory, represent the pervasive antinomies that have served to organize analysis of male and female roles within the household and beyond in Java. Careful attention to the lives of women and their movements through the dense urban neighborhoods known as kampung on the central island of the Indonesian archipelago reveal both the limits of these characterizations and some of the interesting reversals that occur based on class and community, especially the community as organized by the Indonesian government.

Knowledge of the dependence structure between financial assets is crucial to improve the performance in financial risk management. It is known that the copula completely summarizes the dependence structure among multiple variables. We propose a multivariate exponential series estimator (ESE) to estimate copula densities nonparametrically. The ESE has an appealing information-theoretic interpretation and attains the optimal rate of convergence for nonparametric density estimations in Stone (1982). More importantly, it overcomes the boundary bias of conventional nonparametric copula estimators. Our extensive Monte Carlo studies show the proposed estimator outperforms the kernel and the log-spline estimators in copula estimation. It also demonstrates that two-step density estimation through an ESE copula often outperforms direct estimation of joint densities. Finally, the ESE copula provides superior estimates of tail dependence compared to the empirical tail index coefficient. An empirical examination of the Asian financial markets using the proposed method is provided.

Confused and bewildered; misunderstood. When a human being appears different from another, in absence of a desire to commune together, the decision is made by one to be misunderstood. Isolation is then the life to which the misunderstood person must consciously decide to relegate themselves to, or to reach out to others and take the risk to be vulnerable but mentally free of boundaries imposed by others. However, being misunderstood can be an asset when one embraces their own differences as strengths that make them unique. Viewing differences as strengths can empower persons who are misunderstood to have a strong identity and self-concept. Hence, be better capable of effectively coping with the negative behaviors of others.