... Assignment Derivatives Market in Asian Countries 2 An Overview The purpose of this report is to examine the following; to discuss the derivatives markets in Asian economies whilst simultaneously discussing the benefits and risks posed by these markets to their financial systems. In conclusion, I will propose a set of specific policy actions/recommendations aimed at reducing these risks. Growth in emerging markets has been due to several factors including privatizations, participation of foreign institutional investors, increase in the domestic investor base, and increased IPOs. In a nutshell, economies are taking steps to lowers the cost of capital to spur economic activities by fast-tracking financial market development. If those points stated were considered the first generation, emerging markets now find that they need to focus on the second-generation capital market development issues. These can be stated as: developing financial intermediaries that have professionals with financial sector skills; enhancing domestic institutional investor base with financial sector skills, enhancing domestic institutional investor base in addition to foreign investors, providing self-regulatory organization and developing mechanisms for investor protection (Fratzscher 2006). Derivative Products in Asia There are five main derivatives products that are traded in Asian markets; foreign exchange products, interest rate derivatives, equity derivatives, commodity derivatives, credit...
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...An Overview of The Asian Financial Crisis Prepared for Mahrufa Bashar Assistant Professor Course Instructor: International Finance Prepared by S.M. Ishtiuaque (ZR 30) Md. Sakib Khaled (ZR 55) Md. Mahmudur Rahman (ZR 82) Mazharul Islam Bin Towhid (ZR 89) Debojit Saha (ZR 110) BBA 18th batch Institute of Business Administration, University of Dhaka October 02, 2013 Contents 1. Introduction 2 2. Background of the Asian Financial Crisis 2 3. Development of the Crisis 3 4. Reasons Behind the Crisis 4 5. Solutions to Problem 5 6. Conclusion 6 ------------------------------------------------- 1. Introduction In 1993 the Worldbank, celebrating the outstanding performance of eight Asian economies, coined the term ‘The Asian Miracle’. Less than five years later, four of these economies (Indonesia, Malaysia, Korea, and Thailand) and the Philippines found themselves in one of the sharpest economic crises of the last decades. The resulting economic recession shocked the world with its staggering economic and social costs. Over a million people in Thailand and approximately 21 million in Indonesia found themselves impoverished in just a few weeks, as personal savings and assets were devalued to a fraction of their pre-crisis worth. As firms went bankrupt and layoffs ensued, millions lost their jobs. Soaring inflation raised the cost of basic necessities. Strapped fiscal budgets imposed a financial squeeze on social programs, and the absence of adequate...
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...Certificate of Approval I certify that I have read “The Dynamic Linkage among Islamic Asian Emerging Stock Markets” and that in my opinion this work meets the criteria for approving a thesis submitted in partial fulfilment of the requirements for the MSc Finance degree at Institute of Management Sciences, Peshawar Pakistan. Supervisor Name: Dr. Yasir Kamal Designation: Assistant Professor Coordinator Research and Development Department Name: Dr. Owais Mufti Declaration I, hereby declare that the research submitted to R&DD by me is my own original work. I am aware of the fact that in case my work is found to be plagiarized or not genuine, R&DD has the full authority to cancel my research work and I am liable to penal action. Student’s Name: Shah-i-Mulk Date: 23/12/2015 Abstract Study was carried out to investigate the dynamic linkage among the three fast growing emerging Islamic economies of Asia (Malaysia, Indonesia and Pakistan) the data incorporated for analysis were spread over the span of 15 years 2000-2015. It was estimated that these stock markets have strong impact on each other hence, strongly integrated among themselves. Study utilised EVIEWS software for the analysis and the test incorporated in the estimation were ADF and Johanson Cointegration Test. The study further illustrates that practice of Islamic financial solutions and cultures of these countries has also supportive hand in co movements of stock markets. Keywords: Cointegration, ADF...
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...Asian Journal of Technology & Management Research [ISSN: 2249 –0892] Vol. 01 – Issue: 01 (Jan - Jun 2011) CORPORATE RESTRUCTURING - A FINANCIAL STRATEGY Vikas Srivastava1 Ms. Ghausia Mushtaq2 ABSTRACT This paper serves the very purpose of defining the corporate restructuring as a financial strategy adopted towards the financial development and enhancement of an organization suffering from a major set back at any level of operation. Technological advancement and environmental or political – legal changes and polices enable the companies to move in the direction routed by the changing environment of the new era. There is a lot of competition in almost all respect as the there is not only the survival of the fittest but also the wittiest. In phase of rapid industrialization, only those organization will survive which will create and able to deliver the maximum value as satisfaction to their customers. The corporate restructuring, as the financial strategy, will make an effect on the overall cost of capital or will have an effort to bring it to the lowest so that the changes with respect to various operational and functional activities of the organization will be taken care of by the organizational changes. Corporate restructuring is one of the most complex and fundamental phenomena that management experiences. Each company has two opposing objectives from which it has to choose: to diversify or to refocus on its core business. Financial restructuring involves the...
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...Get the inside scoop on investment banking careers in the Asia Pacific region! Read this extended excerpt of the all-new Vault Career Guide to Investment Banking, Asia Pacific Edition and get the inside story on investment banking careers, including: • An inside look at corporate finance, sales & trading, research and other major functions at investment banks. • An oveview of equity and debt markets in the region • A discussion of industry trends and corporate culture in Asia Pacific • Days in the life of investment bankers in Asia Pacific This PDF is an excerpted version of the full 198-page guide To get the complete guide: • Purchase your own print or e-Book version of the guide. Go to www.Vault.com/Asia. • More than 900 universities and MBA programs worldwide subscribe to the Vault Online Library, providing more than 4.5 million students worldwide with access to Vault's guides and career information. Contact your career center today to ask about access to the Vault Online Career Library. ABOUT VAULT Founded in 1996, Vault is the leading global media company focused on careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT ...
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...Get the inside scoop on investment banking careers in the Asia Pacific region! Read this extended excerpt of the all-new Vault Career Guide to Investment Banking, Asia Pacific Edition and get the inside story on investment banking careers, including: • An inside look at corporate finance, sales & trading, research and other major functions at investment banks. • An oveview of equity and debt markets in the region • A discussion of industry trends and corporate culture in Asia Pacific • Days in the life of investment bankers in Asia Pacific This PDF is an excerpted version of the full 198-page guide To get the complete guide: • Purchase your own print or e-Book version of the guide. Go to www.Vault.com/Asia. • More than 900 universities and MBA programs worldwide subscribe to the Vault Online Library, providing more than 4.5 million students worldwide with access to Vault's guides and career information. Contact your career center today to ask about access to the Vault Online Career Library. ABOUT VAULT Founded in 1996, Vault is the leading global media company focused on careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT and the staff of vault ...
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...Get the inside scoop on investment banking careers in the Asia Pacific region! Read this extended excerpt of the all-new Vault Career Guide to Investment Banking, Asia Pacific Edition and get the inside story on investment banking careers, including: • An inside look at corporate finance, sales & trading, research and other major functions at investment banks. • An oveview of equity and debt markets in the region • A discussion of industry trends and corporate culture in Asia Pacific • Days in the life of investment bankers in Asia Pacific This PDF is an excerpted version of the full 198-page guide To get the complete guide: • Purchase your own print or e-Book version of the guide. Go to www.Vault.com/Asia. • More than 900 universities and MBA programs worldwide subscribe to the Vault Online Library, providing more than 4.5 million students worldwide with access to Vault's guides and career information. Contact your career center today to ask about access to the Vault Online Career Library. ABOUT VAULT Founded in 1996, Vault is the leading global media company focused on careers. With offices in North America, Europe, India and Asia, Vault provides graduates and young professionals worldwide with insider information on careers and education through its award-winning web sites and career guides. CAR E E RS VAU LT CA R E E R G U I D E TO INVESTMENT BAN KING A S I A P A C I F I C E D I T I O N INVESTMENT BANKING JUNG B. LEE, TOM LOTT and the staff of vault ...
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...Malaysia. Malaysian economy developed steadily since 1987. Since then Malaysia's economy an average annual growth rate of 8%, higher than that of other countries in Southeast Asia. Economic growth, mostly from the direct involvement of the national government. In 1987, the Government will action taken to attract foreign investment. Of foreign investment in Malaysia peaked in 1990, a total of 17.6 billion ringgit. The privatization of state assets is also ongoing. The government has proposed the "Vision 2020" plan, the plan has been to determine the basic goal of the industrialization of the country. Kuala Lumpur stable macroeconomic environment, with adequate foreign exchange reserves and a small external debt remained at or below 3% inflation rate and the unemployment rate, the recession similar to the 1997 Asian economic crisis from happening again in Malaysia may resistance becomes very small. Nevertheless, faced with lack of competitiveness and high debt problem of large enterprises have a negative impact on Malaysia's economic future. Under Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020.. The NAJIB administration also is continuing to boost domestic demand and reduce the economy's dependence on exports. Besides that , exports - particularly of electronics, oil and gas, palm oil and rubber - is still a important to economy. As an oil and gas exporter, Malaysia has...
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...RESEARCH PAPER 99/14 11 FEBRUARY 1999 The Asian Economic Crisis This paper considers the economic crisis that began in the financial markets of South East Asia in 1997 and the consequences for the economies of the region and the rest of the world. The paper provides a chronology of and explores the factors that led to the crisis. An overview is given of the policy measures that the international financial institutions (IFIs), such as the IMF, have taken to deal with the crisis. Some of the arguments and policy proposals made to try to avoid future crises are also covered. Eshan Karunatilleka ECONOMIC POLICY AND STATISTICS SECTION HOUSE OF COMMONS LIBRARY Recent Library Research Papers include: 98/119 98/120 99/1 Unemployment by Constituency - November 1998 Defence Statistics 1998 The Local Government Bill: Best Value and Council Tax Capping Bill No 5 of 1998-99 16.12.98 22.12.98 08.01.99 99/2 99/3 99/4 Unemployment by Constituency - December 1998 Tax Credits Bill Bill 9 of 1998-9 The Sexual Offences (Amendment) Bill: 'Age of consent' and abuse of a position of trust [Bill 10 of 1998-99] 13.01.99 18.01.99 21.01.99 99/5 99/6 99/7 The House of Lords Bill: 'Stage One' Issues Bill 34 of 1998-99 The House of Lords Bill: Options for 'Stage Two' Bill 34 of 1998-99 The House of Lords Bill: Lords reform and wider constitutional reform Bill 34 of 1998-99 28.01.99 28.01.99 28.01.99 99/8 99/9 99/10 99/11 99/12 Economic Indicators Local Government...
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...Volume–VII, Number–02, July-December, 2012 Effects of Interest Rate and Exchange Rate on Volatility of Market Index at Dhaka Stock Exchange DEWAN MUKTADIR-AL-MUKIT * ABSTRACT The paper investigates the effects of the exchange rates and interest rates on stock market performance by using monthly time series data for the economy of Bangladesh, over the period of 1997 to 2010. This study uses econometric techniques of measuring the long and short term relationship between variables using the concept of Cointegration and Error Correction Model and analysis of Variance Decomposition. Causal relationships have been investigated using Granger causality test. By employing Cointegration technique it is observed that in the long run, a one percent increase in exchange rate and in interest rate contributes1.04% increase and 1.71 % decrease in market index respectively. The estimated error correction coefficient indicates that 7.8 percent deviation of stock returns are corrected in the short run. Finally, Granger causality analysis suggests the existence of a unidirectional causality from market index to exchange rate and from interest rate to market index. Keywords: Cointegration, Granger Causality. Exchange rate, Interest rate, DGEN index 1. INTRODUCTION A well functioning financial system boosts economic growth through proper and efficient allocation of resources. As a part of financial system, the importance and role of stock market towards achieving economic growth is crucial. The...
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...commercial banking services in Switzerland. According to the Scorpio Partnership Global Private Banking Benchmark 2013, UBS had assets under management (AuM) of US$1,705.0 billion, representing a 9.7% increase in AuM versus 2012. UBS suffered among the largest losses of any European bank during the subprime mortgage crisis and the bank was required to raise large amounts of outside capital. In 2007, the bank received a large capital injection from the Government of Singapore Investment Corporation, which remains one of the bank's largest shareholders.[6][7] The bank also received capital from the Swiss government[8] and through a series of equity offerings in 2007, 2008, and 2009. UBS is a joint-stock company according to Swiss law, headquartered in Basel and Zürich, and is listed at the SIX Swiss Exchange and the New York Stock Exchange (NYSE). UBS is present in all major financial centers worldwide, with about 37% of its 64,617 employees working in the Americas, 37% in Switzerland, 16% in the...
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...ASIAN STAR Perfection from within Annual report: 2011-2012 Priyesh Dani MMS B Roll no - 105 Asian Star Company Limited Asian Star Company Limited, established in 1971, is one of the world’s leading diamantaires. Its business comprises of diamond manufacturing, jewellery manufacturing and retailing. Having marketing arms spread across three continents – Asia, Europe and America – the company is strongly positioned to serve its valued dientele around the globe. Vision To be a world-class diamantaire enjoying sustainable growth, to maximize the potential of our core competencies and add long-term value to diamond pipeline. Mission We will live each day our passion for innovation and excellence, to create highly desirable diamonds and experiences that surpass our customers’ expectations. Core Values The source of our work ethos and sense of commitment arises from the belief in our core values:- * Integrity * Partnership * Excellence * Responsibility * Unity Company Highlights and Achievements * Awarded 1st for Highest Export – GJEPC in 1992 * National...
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...in the euro region debt stricken countries as our exposure is low. Software services and other export oriented sectors would benefit from the rupee depreciation. FDI has not been significantly affected by the crisis while the FIIs are showing outflow in the last couple of months. International commodity price moderation is not being translated in domestic prices. Inflationary Concerns: Further, exchange rate depreciation would worsen the inflationary conditions in the economy. Therefore, the RBI would have to continue with its anti-inflationary stance in the near term if domestic conditions do not improve Source: World Bank, Ministry of Commerce, Government of India Interpretation of Graph - Graph 1 show that the share of the euro zone exports to their GDP was around 40% in 2010 and has been around 39% on an average since 2005. This was followed by China at 30% and UK at 29%. India’s exposure to the global markets through foreign trade was restricted to 10% in 2010. Caution: However, the impact of the rising global uncertainty and volatility in the exchange rate movement has been seen in the business climate prevailing in...
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...THE EAST ASIAN CRISIS Introduction: The East Asian crisis was a period of financial crisis that gripped much of Asia which beginning in July 1997 and raised fears of worldwide economic meltdown due to financial contagion.1 Several countries such as Malaysia, Thailand, Indonesia, the republic of Korea and the Philippines were hit directly while others such as Taiwan province of China, Singapore and especially Hong Kong, China were badly affected. What began as a speculative attack on the Thai baht in July 1997 quickly spread as ‘contagion’ to the other countries. Over a three-month period between July and October 1997, the baht fell nearly 40 per cent, the Malaysian ringgit and Philippine peso by about 27 per cent, the Indonesian rupiah by about 40 per cent and the Korean won approximately 35 per cent against the United States dollar. For countries that had been dubbed “miracle economies” this was a serious blow with wide-ranging economic, social and political ramifications.2 In this paper we would try to undertake an empirical analysis of the factors leading to the crisis by analysing on two major points: 1) How have these countries performed in the years leading to the crisis? 2) What was the policy response to the currency crisis and what similarities/differences were there in policy responses across countries? We try to do this by analysing the macroeconomic data of three countries, Malaysia, Thailand and the Republic of Korea, over a 13-year period, from 1990 to 2002. The...
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...Table of contents Introduction 2 Country Overview 2 The Political Environment 3 Recent History 3 The Present Government 3 Political Stability 4 Opposition Parties 4 Economic and Financial Analysis 5 Trade History & Major Products 5 GDP Growth per capita 5 Unemployment & Price level Changes Inflation 6 Exchange Rate Innovations 7 Investments in the Stock Market 7 Investments in the Bond Market 8 Foreign Exchange Reserves 9 Structure of Industries 10 The Banking System 10 Monetary Policy / Money Supply Growth 11 Foreign Debt 12 Capital Flight 12 Asian Currency Crisis 13 Philippines before the crisis 13 What caused the Asian Currency Crisis? The effect it had on the Philippines and other countries 13 Looking into the Future 17 Prevention as the Best Form of Management 17 Some Policy Lessons From the Asian Crisis 17 Need for Great Caution About Financial Liberalization and Globalization 17 Manage External Debt Well and Avoid Large Debts 17 Manage and Build Up Foreign Reserves 17 The Need for Capital Controls and a Global Debt Workout System 18 Conclusion: Summary / Comments / Recommendations 19 Works Cited 21 Appendix A 23 Appendix B 24 Appendix C 25 Appendix D 26 Appendix E 27 Appendix F 28 Introduction The Philippines were ceded by Spain to the US in 1898 following the Spanish-American War. They attained their...
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