Suchergebnisse

Microsoft Rights Management Services (RMS) is a system designed to ensure the protection and proper use of electronic documents. RMS allows to apply different access policies for documents, thus allowing to control their use in time. The system allows not only defining access policies at document creation, but also after its distribution. Microsoft RMS uses a number of advanced cryptographic mechanisms and primitives to ensure overall service security. In this paper, we have analyzed the security of RMS, indicating a number of possible gaps. The methods of solving those problems, especially those related to data integrity, have been proposed.
Keywords: DRM, cryptography, cryptanalysis, RMS, Microsoft

This dissertation lies at the intersection of fundamental and technical investment analysis. In their search for key market signals, which lie at the foundation of investment decisions, both fundamental and technical investors are faced with the challenging task of acquiring and interpreting financial data, with the goal of extracting decision relevant information. Advances in computation technology and data management systems have enabled the surfacing of intra-day algorithmic traders, relying on their fast reaction times and computational power to interpret market signals and identify key investment and divestment signals. On the other hand, the fundamental investor uses financial statements as his primary source of information in order to identify and assess a company's individual value drivers. Chapter I of this dissertation is devoted to investigating stock price overreactions around idiosyncratic crashes on the Nasdaq100. The scope of the analysis is to uncover whether liquidity provision after stock price crashes is beneficial for investors with short reaction times. Chapter II investigates market conditions across individual exchanges in the case of cross-listed securities around a macro-economic event which triggered a concomitant three sigma negative return for 71 Nasdaq100 members. Specifically, this chapter looks into developments in liquidity, trading costs and trading behavior across primary, secondary and tertiary exchanges. Chapter III aims at analyzing the effect of segment reporting on analysts' earnings forecast accuracy. Particularly, it investigates the link between EPS forecast errors and the arising profitability "gap" when comparing profitability aggregated from segment reporting and firm profitability as derived from consolidated financial statements.