The current article explores the image of success in the contemporary business environment, embedded in organizational settings as the “exponential organizations”. The essence of exponential human resource management is outlined based on critical review of the continuum of revolutions (evolution) in this functional sphere in business org…[Read more]

Sedentary pathways to organise teaching and learning in fixed-abode classrooms remain a dominant formal schooling practice. This is in contrast to nomadic pathways, which see teachers and/or learners engaged in a form of mobility whilst teaching/learning outside permanent sedentary settings. In northern Nigeria, not all children participating in…[Read more]

An Accelerated Return Note (ARN) is a structured instrument that offers a potentially higher return linked to the performance of a reference entity that could be an equity, an index, or a basket of assets. The payoff depends on the performance of the underlying assets. Usually, it is capped but not floored, that means it does not offer any…[Read more]

A constant proportion portfolio insurance (CPPI) is a trading strategy where an initial investment is dynamically reallocated between a risky asset and risk-free bond such that a minimum payoff is guaranteed at maturity. The risky asset could be from equities, funds, or commodities.

A reverse convertible autocallable swap allows two parties exchange floating coupons with fixed coupons on certain future dates. On some coupon dates, the swap may be cancelled. Should the swap be cancelled on coupon date t, the coupons due on coupon date t will be paid and all further cash flows are terminated.

A best of option pays the option holder the best return at maturity among a given set of portfolios, where each portfolio may be defined by a set of weights on the same underlying basket or different baskets. These are chooser options that return the best performing among several baskets of funds or indices that reflect growth, moderate and…[Read more]

A spread option is an option written on the difference of two underling assets, whose values at time t we denote by S1(t) and S2(t). We consider only options of the European type for which the buyer has the right to be paid, at the maturity date T, the difference S2(T)−S1(T), known as the spread. To exercise the option, the buyer must pay at m…[Read more]

A callable note allows the issuer to exercise a call option on the note on a specified date or set of dates prior to maturity. Callable note or callable exotics are among the most challenging derivatives to price. These products are loosely defined by the provision that the holder or issuer has the right to call the product or exercise into…[Read more]