...SCHOOL OF GRADUATE STUDIES CENTRAL PHILIPPINE UNIVERSITY LOPEZ JAENA STREET JARO, ILOILO CITY ____________________________________________________________________________ REACTION PAPER Asian Economics Comment Presented to: Prof, Jima G.DeLeon, MBA Professor, School of Graduate Studies Central Philippine University In Partial Fulfilment of the Course Requirement in MBA 612 Financial Systems Presented by: Mehrdad Alavi MBA Thesis Option September 13, 2013 I. PRELINMINARY 1- The title of paper is Asian Economics Comment, The anatomy of bubbles, part 1. It is written at August 27 2009 by Dr, Feredric Neumman, whom is senior Asian Economist. The issuer of report is The Hongkong and Shunghai Banking Corporation Limited. Additional information for connecting to the author is +85228224556. FEREDERICINEUMANN@HSBC.COM.HK For more information, the reader can view HSBC Global Research at: www.research.hsbc.com 2- It talks about The Bubble in the financial market specifically in the financial housing market in the Asia and what was happening in the USA at 2008 in the same field. II. ANALYSIS AND REACTION 1- The author tried to anatomy of a bubble in the asset market which was happening at 2008 and before. The first part is discussed about what conditions required for that and the part two and three are belong to what is need to sustain the run. He had paid particularly attention to psychology and what behavioural insights...
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...predatory lending? Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through coercive, deceptive, exploitative, or unscrupulous actions for a loan that a borrower can’t afford, doesn’t need, or doesn’t want. Predatory lending benefits the lender, not the borrower by ignoring or hindering the borrower’s ability to repay the debt. These lending tactics attempt to take advantage of a borrower’s lack of understanding about loans, terms, or finances in general (Krulick, 2014). Who can be targeted in these illegal practices? Predatory lenders typically target minorities, poor, elderly, and less educated people. People who need immediate cash are also targeted. For example people that need to pay medical bills, need to make a home repair, or someone that needs help making a car payment. People with credit issues or people who recently lost their jobs can be targets as well. The credit issues often disqualify borrowers from conventional loans or lines of credit but yet they have substantial equity in their homes. Predatory lending can take place in many forms including payday loans, car loans, tax refund anticipation loans, or any type of consumer debt. Over the past several years, predatory lending practices were prevalent in the area of home mortgages. Since home loans are backed by a borrower’s real property, a predatory...
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...military and its members to make sure their behaviors are consistent with the specifications in International Humanitarian Law (IHL). Even though the complete avoidance of civilian deaths and suffering is not realistic, it is the responsibility of an armed force to not intentionally target civilians and to consider operations in terms of the concepts of distinction, military necessity and proportionality. By their very nature and status, civilians are vulnerable to the atrocities of war, but that vulnerability should never be taken advantage of by offering as an excuse the argument that in times of conflict, no one is safe and suffering must be expected. Suffering and death in war are certainly anticipated; unnecessary violence and the targeted abuse of vulnerable populations with the purposes of exhibiting...
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...Jennifer S. Taub1 I. Introduction This paper explores certain legal acts and omissions that facilitated the over-leveraging and near collapse of the global financial system. These ―Legal Enablers‖ fostered the boom that enriched a class of financial intermediaries who followed a storied tradition of gambling away ―other people‘s money.‖2 These mechanisms also made the pain of the bust disproportionately felt by the middle class and poor while shielding the middlemen who created the problems. These legal Enablers permitted the growth of a shadow banking system, without investment limits, transparency or government oversight. In the shadows grew a variety of highly leveraged private investment pools, undercapitalized conduits of securitized loans and speculation in complex credit derivatives. The rationale for allowing this unregulated, parallel system was that it helped to create innovation and provide liquidity. The conventional wisdom was that any risks associated with a hands-off approach could be managed by the ―invisible hand‖3 of the market. In other words, instead of public police, it relied upon private gatekeepers. A legal framework including legislation, rules and court decisions supported this system. This legal structure depended upon corporate managers, counterparties, ―sophisticated investors‖ and the market generally to prevent irrational conduct. 4 The hands-off approach was premised upon a series of beliefs or expectations. The first was that corporate managers would...
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...Alexandra Windisch-Graetz For UNDP, “Micro-credit programme for disadvantaged groups in Hungary – with a special focus on the Roma population”(Pr.Nr. 00042644) TABLE OF CONTENTS 1. Executive summary 3 2. Overview of status of micro-lending in general, for vulnerable groups and Roma population in particular 3 2.1 A brief look at the competition: Usury and quick loans in Hungary 7 3. Description of Hungarian microfinance project 11 4. Risk analysis of micro-lending institution and its operations for disadvantaged groups as designed under the Micro-credit program for disadvantaged groups in Hungary and mitigation guidelines 12 4.1 Institution Related 13 4.2 Target Group Related 14 4.3 Product Related 15 4.4 Loan Process 21 4.5 Delinquency and Defaults 27 5. A set of indicators for risk monitoring and portfolio management 30 6. Conclusions and Recommendations 30 Table 1. Risk Areas and Mitigation Approaches 32 Table 2. Characteristics of Client Economic Activities 36 Table 3. Product Specification Sheet: Credit Product 38 Table 4. Loan Analysis Form 39 Table 5. Financial Statements With Loan Loss Provision and Reserve 42 Table 6. Portfolio Management Indicators 43 1. Executive summary This report has been commissioned by the UNDP, Project Nr. 00042644 “Micro-credit programme for disadvantaged groups in Hungary – with a special focus on the Roma population”. The project is in the start-up phase and undertakes to provide financial...
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... and Bear Stearns, the fifth largest, was ‘rescued’ in March, at a fire-sale price, by JP Morgan Chase with the help of $29 billion of guarantees from the Federal Reserve. Many of the rest only survived by selling huge chunks of preferred stock, with guaranteed premium rates of return, to a string of ‘sovereign funds’, owned by the governments of Abu Dhabi, Singapore, South Korea and China, among others. By the end of January 2008, $75 billion of new capital had been injected into the banks, but it was not enough. In the uk the sharply rising cost of liquidity destroyed the business model of a large mortgage house, leading to the first bank run in the uk for 150 years and obliging the British Chancellor first to extend nearly £60 billion in loans and guarantees to its depositors and then to take the concern, Northern Rock, into public ownership. In late January Société Générale, famous for its skill at financial engineering—indeed the winner that month of the coveted ‘Derivatives Bank of the Year Award’ from Risk magazine—reported that a 31-year-old rogue trader had lost the bank over $7 billion. The SocGen management began unwinding the terrible positions taken by this trader on 21 January, contributing to a share rout on the exchanges and, it seems, to an...
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...Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Integrating Business Ethics in Business Courses INTRODUCTION Teaching business ethics requires an understanding of the organizational dimensions of ethical decisionmaking. Although most people believe that employees learn to be ethical at home and school and through life experiences, the work environment creates challenges for even the most ethical person. For example, employees cannot always make independent ethical decisions due to a corporate culture that has many types of managers and employees using their own concepts of right and wrong. Managers sometimes pressure employees into questionable activities. However, business ethics becomes more transparent once an organization establishes codes of ethics, as well as compliance requirements and ethical leadership. The objective of this chapter is to provide some essential strategies for integrating business ethics into business courses. The authors examine the role of stakeholders, implications of the global financial crisis, and important issues in teaching business ethics, as well as providing resources to integrate business ethics successfully into a course. THE IMPORTANCE OF BUSINESS ETHICS Business courses provide an essential and dynamic foundation for students developing their business careers. Although it is important to teach many traditional concepts such as human resources and marketing, emphasizing emerging topics that are...
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...An Evaluation of Micro-Finance Programmes in Kenya as Supported through the Dutch Co-Financing Programme With a focus on KWFT Otto Hospes Muli Musinga Milcah Ong’ayo November 2002 Study commissioned by: Steering Committee for the Evaluation of the Netherlands’ Co-financing Programme 3 Contents List of contributors List of abbreviations Acknowledgements 1 1.1 1.2 1.3 1.4 1.5 1.6 1.7 2 Introduction Background and objectives Legitimization and overall objective of Dutch CFAs to support micro-finance programmes Partners of Dutch CFAs operating in the micro-finance market of Kenya Central questions Organization and methodology Process implementation and limitations of the study Structure of the report A brief description of micro-finance in Kenya and agencies as supported by Dutch CFAs Micro-finance in Kenya 2.1.1 The emergence of micro-finance as an industry 2.1.2 Types of micro-finance agencies in Kenya 2.1.3 Service delivery approaches 2.1.3.1 Savings services 2.1.3.2 Loan products 2.1.4 Outreach 2.1.4.1 Banks 2.1.4.2 NGO-MFAs 2.1.4.3 Savings and Credit Co-operatives (SACCOs) 2.1.4.4 ROSCAs and ASCRAs A profile of micro-finance agencies and schemes as supported by Dutch CFAs 2.2.1 General profile 2.2.2 Specific profiles 2.2.2.1 K-REP Development Agency (KDA) 2.2.2.2 Kenya Women Finance Trust (KWFT) 2.2.2.3 Jitegemea Credit Scheme (JCS) 2.2.2.4 PRIDE Africa – Sunlink Some conclusions 7 9 11 13 13 15 16 17 17 18 19 21 21 21 23 25 26 28 28 31 33 35 35 36 36...
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...firms spending large sums on securing high-profile celebrities to serve as corporate spokespersons to the owner of a one-person enterprise passing out business cards at a local businessperson’s meeting. Like most marketing decisions, an effective promotional strategy requires the marketer understand how promotion fits with other pieces of the marketing puzzle (e.g., product, distribution, pricing, target markets). Consequently, promotion decisions should be made with an appreciation for how it affects other areas of the company. 1.3 Objectives of the Study: Objectives of Marketing Promotions The most obvious objective marketers have for promotional activities is to convince customers to make a decision that benefits the marketer (of course the marketer believes the decision will also benefit the customer). For most for-profit marketers this means getting customers to buy an organization’s product or services and, in most cases, to remain a loyal long-term customer. For other marketers, such as...
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...the three months long internship program that I had experienced in the Head Office of BRAC Bank Ltd. From May 18, 2008 to August 17, 2008 as a requirement of my BBA program under Department of School of Business, North South University. This report is divided into two broad parts: one is the organization part and another is the project part. In the organization part, I introduced the Latest and one of the largest banks of our country— the BRAC Bank Ltd. On the other hand, in the project part, I focused on the findings, graphs and analysis of the research. The topic of my report was “Premium Banking Service to the customers”. My focus of the report will be basically on the functions of Premium Banking only. The specific objective of this study was to explore the relationship between client satisfactions and the degree of consumer service delivery, the degree of CSD in context of the BRAC Bank Ltd. While discussing the different aspects and functions of the bank, priority has been given to depict the real situation as far as appraisal and management system of BRAC Bank Ltd. are concerned by employing the experience gathered during the internship program. Analysis on the findings is basically done to sort out the major aspects of the General banking system and to draw some significant inferences. At the same time for easier understanding of the report, supporting topics and terms are explained in light of textbooks and regulatory guidelines. BRAC Bank is a third generation bank in...
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...Licensed to: CengageBrain User Licensed to: CengageBrain User This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Licensed to: CengageBrain User Business Ethics, Ninth Edition O.C. Ferrell, John Fraedrich, and Linda Ferrell Vice President of Editorial/Business: Jack W. Calhoun Publisher: Erin Joyner Senior Acquisition Editor: Michele Rhoades Managing Developmental Editor: Joanne Dauksewicz Editorial Assistant: Tamara Grega Marketing Manager: Jon Monahan Senior...
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... cover photographs © Rachel K. Jones, Marc Sommers, Sarah Samson, Holly Myers, Anne-Sophie Rosette, International Rescue Committee M I S S I O N S TAT E M E N T The Women’s Commission for Refugee Women and Children seeks to improve the lives of refugee women and children through a vigorous program of public education and advocacy, and by acting as a technical resource. The Commission, founded in 1989 under the auspices of the International Rescue Committee, is the only organization in the United States dedicated solely to speaking out on behalf of women and children uprooted by armed conflict or persecution. Acknowledgments The Women’s Commission expresses its sincere thanks to the scores of practitioners who participated in the study and to the Andrew W. Mellon Foundation, UNHCR (Senior Coordinator for Refugee Children Office) and Dr. Gail Furman for their generous support and commitment to children and adolescents affected by war and persecution. This report was researched and written by Jane Lowicki, Senior Coordinator, Children and Adolescents...
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...HRM 605: LEGAL & REGULATORY ASPECTS OF BUSINESS PROJECT ON: CRITICAL STUDY OF DEFINITION OF COMPANIES AND OF VARIOUS TYPES BY: (Group IV) Piyali Bhattacharjee Manashi Roy Soura Shankar De Sourav Manna INTRODUCTION The Indian economy is one of the fastest growing economies in the world; there is huge potential and capabilities. The growth rate of Indian economy is on a sustainably high growth mode. One of the reasons why there is such a rapid growth rate and sustainable too is there is growing domestic market as well as export market in India. Domestic market is increasing due to rise in disposable income and investment in the economy. India is seen amongst world’s youngest country in terms of age of people residing here, most of the citizens approximately 70% are below the age of 35 years. The shift primarily from agrarian to service economy took place in India which also has a huge impact in boosting the developing economy. India is emerging as a service provider to global market, its developed I.T talent and English speaking skill has helped it to grow worldwide. India is moving from an emerging market to an emerged market. The GDP growth of India over the years has shown the development of India’s different sectors like agriculture, construction & service growth. CEMENT INDUSTRY - OVERVIEW The cement industry across the world is getting concentrated and some of the western...
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...United States Agency for International Development (USAID). The overall goal of the program is to elaborate a National Integration Strategy and Action Plan (NISAP) on national minorities through participatory approach, to ensure legitimacy, sustainability and sense of ownership towards the document among key stakeholders. Through this process, Georgia will test innovative policies and contribute to the development of best practices as a part of a legally compliant strategy document. The project also aims to build wide consensus, support networking among stakeholders and provoke public discussions, as well as raise awareness among citizens regarding national minority issues. For the purposes of NITG, the present report serves as a baseline study and is used as an input in the development of NISAP. For the general public and field professionals it presents an overview of that can be valuable for policy...
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...Foreword I do not claim to have read the manuscript Of Changes and Transformations: Bangladesh Bank [July 2009-June 2013] highlighting changes the central bank has gone through in the past four years, but certainly had a cursory look at it. The publication of the book is of great significance at a time when the present government has just completed its four years in office. I welcome this initiative by Bangladesh Bank. I would like to thank Governor Dr. Atiur Rahman and others concerned with the project. The effort put in by the editors and their team of script writers to enrich the volume is certainly praiseworthy. I am extremely delighted to have the opportunity to write few words upon the book. Here I would like to touch upon the key aspects of the revolutionary changes that I have witnessed in Bangladesh Bank during the past four years. Firstly, digitization has taken place rapidly in the central bank and the whole banking sector was quick to follow suit. Secondly, mobile banking has been introduced and expanded significantly. This process will come its fruition with the introduction of PayPal payment system. Thirdly, revolutionary changes have taken place in CSR. Fourthly, Bangladesh Bank has achieved commendable success in financial inclusion program. Bangladesh Bank's role in involving the mass people into financial activities is undeniable. Finally, the establishment of Currency Museum is a great initiative of Bangladesh Bank. I would now like to say a few words on the...
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