National currency is defined as any money declared by a particular government to be a legal tender (Lagos, Ricardo; Wright, Randall 2005). In 1994, following the Bretton Woods Conference, currency exchange rates in the globe was pegged against the US Dollar. Also, the gold standard was introduced, whereby a fixed amount of gold could be exchanged for a certain amount of US Dollar. Even though this gave US dollar the de facto world currency status, in 1971,following the Smithsonian Agreement ,...
I often hear finance managers say an investment related proverb that goes like this; "be risk diverse, not risk adverse". An inquisitive, or even not so inquisitive mind may wonder "what does this concept really mean?" and "why is it so important when investing?" This paper seeks to provide answers to the querying mind and to explain, not only by definition but also via demonstration the importance of having a diversified portfolio. It will also include reasons why investors should be risk di...
World financial crisis has caused some of the world top banks like Citigroup and Royal Bank of Scotland (RBS) to collapse but surprisingly, there are three state-owned commercial banks in China managed to avoid the destruction and emerged to become the three largest commercial banks in the world. China's banking reforms that were conveyed from 1998 in preparation for China's entry into World Trade Organization (WTO) helped China to escape from the world financial crisis. The most recent refor...
Super Cheap Auto is an Australian-based automotive retailer which was formed in 1972, operating as a Mail-Order business. During the past 15 years, Supercheap Auto has experienced more than 25% compound annual income growth. Super Cheap Auto Group Limited contains four major businesses: Supercheap Auto, BCF (Boating Camping and Fishing), Goldcross Cycles and Ray's Outdoors. Since its commence in 1972 by Reg and Hazel Rowe, Super Cheap Auto Group has grown to become one of Australia and New Ze...
This section is deemed to be the most important part of the study. It principally describes how data were gathered, calculated and constructed. Before proceeding further, it is worthwhile to formulate the basic hypotheses on which the whole analysis will be based on. Based on the theories and empirical evidences gone through, the formal hypotheses stated in null and alternate form are as follows: H0: Change in CSP is positively related to current and future changes in financial performance af...
An Initial Public Offering or IPO is one of the most significant proceedings in a life of a growing company. From a theoretical perspective, our understandings of the true reasons of why companies go public are the following: to create liquidity, to fund growth opportunities, to enable insiders to cash out, to minimize cost of capital, to diversify risk, to increase transparency as the company will be subjected to certain requirements, to establish a market value or to enhance a company's rep...
Introduction Nowadays, the world is facing the old age crisis. "Due to the combined fluctuations in fertility, life expectancy at birth, and mortality, the average age of the world's population is expected to increase dramatically within the next forty years." (Shuman, 1984) Hong Kong, which is tiny city with about 7 million citizens, is also facing this worldwide problem. In 2006, Census and Statistics Department conducted the population by-census and made population projections for the next...
According to the database on www.balfourbeatty.com (2009), Balfour Beatty is an engineering and construction corporation,it is also one of the largest and most diverse company in the United Kingdom. The company serves rail, road and power systems, buildings and complex structures in different areas around the world. This report will look into the details of Balfour Beatty's current finational position in the chosen fields in the UK market. Globally speaking, through the ratio analysis, the re...
The relationship between a commercial bank and its customers is not standardized. Contrary to the other transactions, the signing of a credit contract does not mean the end of the relationship between the two parties. Rather, it marks the beginning of their commitment. However, several circumstances might emerge once funds have been released that may alter the borrower's ability to pay back the loan. Such occurrences are increasingly present in the Tunisian context where the information avail...
Studied the fitness of Stackerlberg model, the equilibrium model and the fuzzy multiple criteria decision-making models for port choice, and compared the fitness of each model then he summarize the advantage and disadvantage of each model. In the Stackerlberg Model for Port Choice, the author assumed that the international trade container transportation market could be regarded as a Stackerlberg market. That is, three players including port administrators, carriers and domestic shippers, can ...
