Georgi Georgiev – författare

Bachelor Thesis from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,7, Martin Luther University, language: English, abstract: The world of finance is complex. There are many aspects, which cannot be fully explained and still confuse the researchers. One of the most discussed topics is that of Initial Public Offerings (IPO) mainly because of the intricate connections between investment bankers (underwriters), issuers and buyers. This paper will try to summarize the whole process of going public and emphasize on the role of the (lead) underwriter in it. The paper discusses mainly the American way of going public, but the procedure is generally the same for the European market with some differences that are explained in the text. The advantages, disadvantages and the legal requirements for going public are enlightened, in order of understanding the important role, which the underwriter plays in the whole process. The structure and the legal consequences of the due diligence process are presented. The types of agreement between the underwriter and the issuer are described, with the consequences that originate from them. The ways of determining the price and the advantages and disadvantages of any of them are presented, with respect to the importance of the underwriter s role in them and the liabilities that she has. The problem with the underpricing is discussed more detailed, since this is one of the big challenges in the IPO process. Some theories that explain this phenomenon are briefly discussed, showing the mechanism that is behind the underpricing problem. Some of the unlawful allocation practices are listed, with examples that show that even the top underwriters use prohibited actions to ensure the successful completion of the IPO process. The importance of the pre-opening period for the determination of the right market price and the active participation of the underwriter in the bidding during the first day of the offering is emphasized, as well as the fact that the reputation of the underwriter is one of the most important qualities that she possesses, with respect to the choice of underwriter, the initial returns and the long-run underperformance of the IPO stocks.

Essay from the year 2006 in the subject Economics - Monetary theory and policy, grade: 1,3, Charles University in Prague, language: English, abstract: Milton Friedman is, without a doubt, one of the most influential economists of all times. Born on 31 July 1912, in New York, he graduated at the University of Chicago and later he served there as Professor of Economics. His research in the field of economics brought him a number of awards,including the Nobel Prize in Economics in 1976,"e;'for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policyMilton Friedman died on 16 November 2006. January 29th 2007, was declared as Milton Friedman day, honoring his achievements and his influence over the modern economic policy. Milton Friedman's scholarly contributions are numerous, but the most important are: the critique of the Phillips curve and the introduction of the natural rate of unemployment; the permanent income hypothesis; the stable link between inflation and money supply; the monetarist school of economic thought, and many more, including the revival of the quantity theory of money, the main topic of this paper.