Human resources are considered by many to be the most important asset of an organization, yet very few employers are able to harness the full potential from their employees (Radcliffe, 2005). Human resource is a productive resource consisting of the talents and skills of human beings that contribute to the production of goods and services (Kelly, 2001). Lado and Wilson (1994) define human resource system as a set of distinct but interrelated activities, functions, and processes that are directed at attracting, developing, and maintaining a firm’s human resources. According to Gomez-Mejia, Luis R., David B. Balkin and Robert L. Cardy, (2008), it is the process of ensuring that the organization has the right kind of people in the right places at the right time. The objective of Human Resources is to maximize the return on investment from the organization’s human capital and minimize financial risk. It is the responsibility of human resource managers to conduct these activities in an effective, legal, fair, and consistent manner (Huselid, 1995).…
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A literature review is the summary and critical evaluation of pervious published or unpublished researches made by various scholars and researchers. The source of literature review may be newspapers, articles, journals, magazines, books, thesis, reports, websites, wikis etc. It may also include discussions, methodological issues and suggestions for future research.
The literature review must be written clearly and accurately. Simple and easily understandable wording should be used in a review and unnecessary statements, jargons should be avoided. It must be written in such a way that it keeps reader’s attention and don’t make him bore. Don’t make it too complex. Simplify discussion.
A good literature review gives only the relevant details, findings and feelings of the researcher comprehensively otherwise the reader lose the interest & attention. Here comprehensiveness does not mean that you should mention every research report, article or paper that has ever been published on your subject. Concentrate on the most widely cited authors and the most significant findings.…
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Review of Literature on Credit Derivatives
Giesecke, K. (2009) says that a credit derivative is a financial instrument whose cash flows are linked to the financial losses due to default in a pool of reference credit securities such as loans, mortgages, bonds issued by corporations or governments, or even other credit derivatives. Credit derivatives facilitate the trading of credit risk, and therefore the allocation of risk among market participants. They resemble bilateral insurance contracts, with one party buying protection against default losses, and the other party selling that protection. He discusses the mechanics of standard contracts, describes their applications, and highlights the mathematical challenges associated with their analysis.
Dufey & Rehm(2000) say that credit derivatives are contracts between two financial market participants.The essence of this contract is to transfer credit risk from one party to another.Like all financial innovation, a credit derivative is a new financial product which is developed by unbundling various components from a traditional financial contract & “repackaging” them into a new contract.…
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