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Resources: we included references J. Longevity: qfrm dependencies are limited to Python Standard Library , pandas, numpy, scipy, and matplotlib. We try to sensibly vectorize our functions to help you with application of QFRM functionality. This project grows rapidly with an effort from a dozen of bright quant finance developers. Check back for updates throughout Fall Our Team: This is a group of ambitious and diligent Rice University science students from doctoral, masters and undergraduate programs.

Aung rice. Chen rice. Granahan contributor , Department of Computer Science, pjgranahan rice. LI rice. Liao rice. Weatherly contributor , Department of Computational and Applied Mathematics, amw13 rice. Xie rice. Yao rice. Zhang rice. The Code aims at making the German Corporate Governance system transparent and understandable. Its purpose is to promote the trust of international and national investors, customers, employees and the general public in the management and supervision of listed German stock corporations.

In this declaration, the Management Board — also acting on behalf of the Supervisory Board — provides its report on corporate management in the Group pursuant to sections f, d of the German Commercial Code HGB and pursuant to subsection 3. Our aim is to present our corporate management principles as clearly and concisely as possible. Evotec takes its Corporate Governance responsibilities very seriously. As a service provider, Evotec has to win and retain the trust of its customers and business associates through impeccable behaviour.

Thus Evotec regularly reviews and enhances its Corporate Governance practices. Within the frame of strategical determination by the Management Board, specific goals are established and communicated. To accomplish our targets, we rely on the enterprise and initiative of our managers and employees.

We achieve consensus on clearly defined objectives, and we regularly monitor how well we are meeting them. These agreements on aims are a fundamental component of our leadership philosophy and a crucial element of our remuneration system. The Code of Conduct is published on the Evotec website www. Said training is mandatory for all board members and other employees.

The Compliance Office helps to communicate the values underlying the Code of Conduct and anchor them firmly in the Group. It ensures Group-wide implementation of the Compliance Programme.

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Another important aspect of accountability and transparency is a mechanism to enable all Evotec employees to voice concerns in a responsible and effective manner. The latter can also be done anonymously. In , no reports via the central compliance hotline were registered. For the Aptuit entities, it is planned to be integrated in such compliance hotline in Evotec also complies with the financial market rules.

This committee examines the ad hoc relevance of insider information and ensures that Evotec complies with the law. An important element of sound Corporate Governance is dealing responsibly with risks. Evotec has established an effective risk and opportunities management system that enables the Management Board to detect and react to relevant risks and market developments in good time. The Management Board reports on these to the Supervisory Board.

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It also contains the report on the accounting-related internal control and risk management system required in accordance with the German Accounting Modernisation Act BilMoG. These systems are continually developed, adjusted to match changes in overall conditions and reviewed by the auditors.

The Management Board regularly informs the Supervisory Board about existing risks and the development of these risks. Evotec AG informs its shareholders, financial analysts, the media and the public on a regular basis about its progress. In doing so, the Company complies with all requirements of the Code regarding transparency, timeliness, openness and shareholder equality. Evotec is committed to fair disclosure of information and its communication is governed by a Company Disclosure Policy.

It is a prime concern of the Company that all relevant target groups receive the same information at the same time, and this implies communicating in both English and German. Moreover, the Company website at www. On a regular basis, Evotec provides financial and business information to its shareholders and other interested parties by publishing its annual Consolidated Financial Statements and quarterly reports. The audit firm is appointed by the shareholders at the Annual General Meeting and commissioned by the Supervisory Board.

The Audit Committee uses this information as a guideline for its own evaluation of the statements and reports. These audits also covered risk management and compliance with reporting requirements concerning corporate governance pursuant to section of the German Stock Corporation Act. Following its consultations, the Supervisory Board also approves the financial statements and the Consolidated Financial Statements. The Management Board is responsible for managing Evotec and representing the Company in its dealings with third parties, while the Supervisory Board appoints and dismisses the members of the Evotec Management Board and oversees the management of the Company.

German law prohibits the Supervisory Board from making management decisions. The two boards, however, work closely together to achieve long-term and sustainable growth for the Company and to create shareholder value. In its business operations and decisions, the Management Board acts on behalf of the Company and works towards its progress with the objective of sustainable creation of value, thus taking into account the interests of the shareholders, the employees and other stakeholders.

The Management Board is appointed by the Supervisory Board. The Management Board is responsible for preparing the quarterly Consolidated Financial Statements and the annual Consolidated Financial Statements, as well as the annual financial statements of Evotec AG.

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It is also responsible for the establishment of an effective risk management system, cares for compliance with legal requirements and internal guidelines. In accordance with a suggestion of the Code, new members are appointed for up to three years; however, prolongations of existing contracts might be up to five years as currently agreed with the Chief Executive Officer and for its new contract with the Chief Scientific Officer.

Management Board members may be reappointed and may be dismissed with good cause prior to the termination of their terms of office. With regards to diversity within the Management Board, it has to be taken into account that Evotec works in a globalised industry and has a broad and international customer base. Therefore, the Supervisory Board selects Management Board members regardless of gender, nationality or age; instead, the focus lies on their qualifications and work experience only. This target quota was confirmed in for a further five-year period. This target quota was confirmed for a further five-year period as well.

The activities of the Management Board are regulated by its internal Rules of Procedure, which set out the matters reserved for the full Management Board, the responsibilities of the areas of responsibility and the majorities necessary for passing resolutions. Meetings of the Management Board shall be called by the Chairman of the Board. Each member of the Management Board may request that an extraordinary meeting of the Management Board be called outside its regular meetings. The board meetings are chaired by the Chairman of the Management Board, who also coordinates the areas of responsibility.

Persons who are not board members can, if so resolved by the Management Board, be admitted to board meetings in a consultative capacity. Brief minutes have to be made of material discussions and resolutions. Resolutions of the Management Board will be carried regularly at its meetings. Resolutions may also be carried without a meeting, however, in writing, by telex or by telephone. The Management Board shall be quorate if a majority of its Members vote on a resolution.

Resolutions of the Management Board shall be passed by a simple majority. Should there be a tie, the CEO shall decide. The Management Board also provides continuous updates to the Supervisory Board through regular verbal and written reports that includes in depth analysis of the status of operations. In addition, the Management Board must submit a budget for the following fiscal year and a plan for the medium term to the Supervisory Board. The Management Board is also required to report to the Supervisory Board in a timely fashion on any transactions that may be significant with respect to the profitability or liquidity of the Company in order to give the Supervisory Board an opportunity to express its opinion on such transactions prior to their implementation.

The Chairman of the Supervisory Board and the Chief Executive Officer as well as other members of the Management Board discussed current and ongoing topics via numerous conference calls, carried out whenever appropriate. However, the Supervisory Board has specified concrete objectives regarding diversity and a corresponding competence profile regarding its composition, which are ensured when making proposals to the AGM for election or re-election of new Supervisory Board members. Potential conflict-of-interest situation s shall be avoided by deploying the highest scrutiny when assessing potential candidates.

In addition, the Supervisory Board shall ensure that the individual age of a candidate shall not exceed 72 years at the time of the proposal. Finally, the Supervisory Board has agreed on two full terms as the regular limit of length of membership to the Supervisory Board. Overall, the Supervisory Board shall be composed in such a way that the majority of its members are independent and that its members as a group possess the knowledge, ability and expert experience required to properly complete its tasks.

The Members of the Supervisory Board are elected by the shareholders by a simple majority of the votes cast at an Annual General Meeting. The members of the Supervisory Board are elected for five years and may be re-elected.

Theory and estimation of demand, production and cost functions, models of market behavior, current issues in regulation and antitrust actions. Macroeconomic concepts applied to decision-making; money and capital markets, monetary and fiscal policy, and aggregate economic theory. Basic topics in parametric statistics, estimation, confidence intervals and hypothesis testing, goodness-of fit tests, analysis of variance, regression and correlation analysis; time series analysis, quantitative forecasting methods; elementary design of experiments and data collection; computer implementations using available up to date statistical software.

Estimation theory, hypothesis testing, correlation and regression analysis for interpretation of multivariate datasets, quantitative forecasting methods with emphasis on business applications through computer-based projects. Understanding of the research methods and their necessity and usefulness in managerial decision-making. Exercises in designing research, data collection methods and reporting the findings. In the seminar students analyze a sector and a firm in the sector in groups of students.

The seminar has the secondary aim of giving experience to students in coordinated group work and in report writing. Prerequisite: AD or consent of the instructor. Topics include assessment of environmental trends and industry attractiveness; interplay among competitors; establishment of sustainable competitive advantage; the role of quality in the value chain, internal capabilities and resources; values and corporate culture; long-range planning; controlling and achieving superior performance in customer, value-oriented organizations.

The dominant role of the multinational corporations is studied through the corporate social responsibility framework. The ethical foundations of sustainability; investigating company's relationship with the social environment. Diagnosing and resolving real world cases related to issues such as privacy, discrimination, trade secrets, whistleblowing, harassment, plagiarism, unfair competition, unethical marketing practices, cyberethics, environmental ethics, and sustainable business ethics. Implications for managerial decision making process; developing a framework for ethical conduct, corporate governance and ethics programs.

Examination of selected topics including the preparation of consolidated financial statement. Analysis of problems related to valuation and financing. Discounted cash flow DCF method of valuation; real options; cross-border projects with currency and country risk; valuation in the context of takeover battles.


Choice of capital structure and dividend policy; issuance of convertibles and warrants. Pricing of financial derivatives on stocks, bonds and commodities; trading in the markets; investment strategies and use of derivatives in risk management. The course also introduces the arbitrage pricing theory and option pricing theory. During the semester students are required to apply the theory on empirical tests. Prerequisite:AD or consent of the instructor. Objective-setting, project planning and budgeting phases.

Detailed analysis of operating budgets and financial budgets. Variance analyses and control phases of planning. The relationships between the exchange markets, foreign trade and financial markets are also analyzed. Strategic decision choices and consequences are discussed, applied and evaluated within a group and individual role-playing approach. Prerequisite: 2nd year standing. Prerequisite: AD Pioneers of contingency approach: socio-technical systems and related schools of thought. Models of structural determinism: impact of size, technology and environment on structure.

Recent developments: multiple contingencies, strategic choice, design as a political process. Prerequisite: AD or AD Analysis of direct investment trends in Turkey and research on multinational corporation operations. Outgoing investments. Attitudes and behaviors of individuals in organizations: Decision making, motivation, communication, conflict management, power and influence, team processes.

Main approaches to organization theory; dimensions of organizational structure, design and effectiveness; organization-environment relations; change, organizational culture and technology; recent advances in organization studies, including strategic choice, design as a political process, gender and ethics. Use of case studies, team projects, and experiential exercises as teaching methods.

The course also tries to sensitize the student to the cultural and institutional context of management. Attention is also devoted to analyzing the central features of the Turkish business environment. Where relevant, the course relies upon experiential methods to help develop students' managerial skills. Special problems such as union membership, union freedoms and democracy, with some emphasis being given to legislation pertinent to labor unions in Turkey.

Financial Instruments

Also, a review of trends in workers participation in management and developments in public employee unionism in various countries will be covered. Comparative study of industrial disputes and their settlement through mediation, conciliation and arbitration, and the economics of collective bargaining, with some reference to wage and incomes; policies in various countries will also be studied. Entrepreneurial processes, opportunity recognition, preparing a business plan, forms of finance, venture capital, franchising and managing a growing enterprise.

Table of Contents

Topics on international sales and marketing agreements. Choice of jurisdiction The Brussels and Lugano Conventions and choice of law; use of uniform laws the Vienna Convention ; transportation of goods Incoterms.

Financing of international sales agreements and payment mechanisms in international transactions. EC competition law and technology licensing agreements. Enforcement the New York Convention. Investigation of the forces influencing marketing decisions and a framework for analyzing these situational forces and for identifying key problems and opportunities.

Various parameters of global markets including regional integrations, strategic alliances and communication technologies. Global strategy audit tools for assessing worldwide opportunities and challenges faced by firms for selecting foreign markets and entry modes. Strategies about product and service adaptations, export and transfer pricing, integrated marketing communications, distribution channels and logistics management for competitive advantage in global and emerging markets.