Omnibus accounts to Finnish investors? – An analysis of the costs and benefits that omnibus account structure brings to Finnish account operators and investors

The Finnish Securities Markets are being harmonized to enable better, more reliable and timely settlement of securities. Omnibus accounts are a common practice in the European securities markets. Finland forbids the use of omnibus accounts from its domestic investors. There is a possibility that the omnibus account usage is allowed for Finnish investors in the future. This study aims to build a comprehensive image to Finnish investors and account operators in determining the costs and benefits that the omnibus account structure would have for them. This study uses qualitative research methods. A literature review provides the framework for this study. Different kinds of research articles, regulatory documents, studies performed by European organisations, and Finnish news reportages are used to analyse the costs and benefits of omnibus accounts. The viewpoint is strictly of account operators and investors, and different effects on them are contemplated. The results of the analysis show that there are a number of costs and benefits that investors and account operators must take into consideration regarding omnibus accounts. The costs are related to development of IT-systems so that participants are able to adapt to the new structure and operate according to its needs. Decrease in the holdings’ transparency is a disadvantage of the structure and needs to be assessed precisely to avoid some problems it might bring. Benefits are mostly related to the increased competition in the securities markets as well as to the possible cost reductions of securities settlement. The costs and benefits were analysed according to the study plan of this thesis and as a result, the significance and impact of omnibus accounts to Finnish investors and account operators depends on the competition level and the decisions that all market participants make when determining if the account structure is beneficial for their operations.

An account of new developmentalism and its structuralist macroeconomics

This is a personal account of the definition of "new developmentalism" - a national development strategy alternative to the Washington consensus -, and of a "structuralist development macroeconomics": the sum of models that justifies theoretically that strategy. It is personal account of a collective work involving Keynesian, institutionalist and structuralist economists in Brazil that are forming a new school of thought in Brazil: a Keynesian-structuralist school. It is Keynesian because it emphasizes the demand side or the investment opportunities' side of economic growth. It is institutionalist because institutions obviously matter in achieving growth and stability. It is structuralist because it defines economic development as a structural change from low to high value added per capita industries and because it is based on two structural tendencies that limit investment opportunities: the tendency of wages to grow below productivity and the tendency to the cyclical overvaluation of the exchange rate.

Travel changes thought and men : a fresh perspective on the travels of a literary icon

Kirjallisuusarvostelu

Expressing the self in postmodern travel consumption: a case study of students

The study approaches student travel from the perspective of postmodern consumption. The background is in the observation that the student travel market has a vast potential, but it is not necessarily capitalized upon to the extent it could. This might partly have to do with the peculiarities of postmodernity: consumption is characterized by unpredictability and abstract motives. The research questions are built around what constitutes student travel consumption and how can students be categorized according to motivation, behaviour and values. Also identity and expressiveness are present and it is evaluated, if travel services facilitate these background is the observation that the student travel market has a vast potential, but it is not necessarily capitalized upon to the extent it could be. This might partly have to do with the peculiarities of postmodernity: consumption is characterized by unpredictability and abstract motives. The research questions are built around what constitutes student travel consumption and how can students be categorized according to motivation, behaviour and values. Also identity and expressiveness are present and it is evaluated whether travel services facilitate these constructs. The topic is approached by discovering the key concepts such as self-identity. This was done in order to create survey questions that reflect the underlying theories. The survey was sent to chosen student groups of Turku School of Economics. The data was analyzed using statistical methods, mainly principal component analysis, in order to categorize students’ motives and behaviour into distinct profiles. The findings indicate that students have a high level of awareness in their travel consumption choices. Travel services seem to facilitate identity and lifestyle expressiveness, one central dimension of postmodernity. Psychographics such as motivation seem to work well as a segmentation criteria when it comes to the student traveler market. Travel offers students an opportunity for relaxation, escape, enjoyment and gaining new experiences and social contacts. Furthermore, the enjoyment of the travel experience extends to the pre- and post-trip time.

A phenomenological account of Merleau-Ponty's notion of style : from embodiment to flesh

Abstract This thesis is an investigation of Maurice Merleau-Ponty's notion of style via the individual, artwork, and the world. It aims to show that subject-object, self-other, and perceiver-perceived are not contrary, but are reverses of one another each requiring the other for meaningful experience. In experience, these cognitive contraries are engaged in relationships of communication and communion that render styles of interaction by which we have/are a world. A phenomenological investigation of Merleau-Ponty's notion of style via existential meaningfulness, corporeal and worldly understanding, stylistic nuances (with respect to the individual, the artwork, and the world), and the existential temporal dynamic provide the foundation for understanding our primordial connection with the world. This phenomenological unpacking follows Merleau-Ponty's thought from Phenomenology of Perception to "Cezanne's Doubt" and "Eye and Mind" through The Visible and the Invisible.

An analysis of students' travel motivations and images of China as a tourist destination

Despite China's rapid growth in inbound tourism, the nature of its Canadian tourist market has been insufficiently studied. In response to this need, the objectives of this study are to identify China's destination image in Canadian students' minds, their possible internal motivations for visiting China as well as examining demographic influences on people's destination image formation. The study reviews image formation process and travel motivation categorisation, discusses their relationship, and implements Baloglu and McCleary's (1999) perceptual and affective image formation model and "push and pull factors" theory as its framework. A self-administered survey was applied to 424 undergraduate students in a Canadian university in early 2004. Exploratory factor analyses were conducted to identify perceived images and travel motivation. Summated means were calculated to illustrate the affective attitudes. A series of f-test and ANOVA tests were employed to examine the influence of demographics. An open-ended question format was adopted to analyse other images, motivations and visitation barriers that students may have. Findings demonstrate that cultural and natural attractions are the predominant image which the Canadian students have of China'; some stereotypes and negative images still influence the students' perception; travel service quality is largely unknown; increasing knowledge and seeking excitement and fun are the significant motivators in the likelihood of the Canadian students choosing to visit China; and personal interests may be a factor that significantly influences an individual's destination image and travel motivation. Raising awareness and increasing familiarity through promotion are suggested as methods to create a positive destination image of China.

Tourist travel via Grand Trunk Railway System : and connections, including Niagara Falls and Gorge, the Highlands of Ontario, comprising Georgian Bay, Muskoka Lakes ; St. Lawrence River, Montreal, Quebec, the Saguenay River, the Rangeley Lakes, White Mountains, and the Atlantic Sea-Coast /

Previous editions of this work have appeared under the title: Gateways of tourist travel.

Letter from the Secretary of the Navy, transmitting the official account of the capture of the British sloop of War, Reindeer, by the United States sloop Wasp, commanded by Captain Johnston Blakeley, on the twenty-eighth June last.--

"A list of British vessels captured by the United States' sloop of War Wasp, J. Blakeley esg. commander, between May 1st and July 6th, 1814".Folded table at end.

Message from the President of the United States, in relation to the claim of Virginia, an account of interest paid by that State, on moneys borrowed for the payment of the militia thereof, for services rendered the United States.--

April 13, 1824. Printed by order of the Senate of the United States.

A sermon, preached in Hingham and Quincy, 20th August 1812, the day of the national fast, on account of the war with Great Britain /

Bibliogr.

A true and impartial account of the actions fought at Chippawa & Lundy's Lane during the last war with the United States /

On leaf preceding the t.p.: Battles of Chippawa and Lundy's Lane, by Charles Anderson, guide to the battle ground.