...Curriculum Source References The following references were used in the CFA Institute-produced publications Quantitative Methods for Investment Analysis, Analysis of Equity Investments: Valuation, and Managing Investment Portfolios: A Dynamic Process. Ackerman, Carl, Richard McEnally, and David Ravenscraft. 1999. “The Performance of Hedge Funds: Risk, Return, and Incentives.” Journal of Finance. Vol. 54, No. 3: 833–874. ACLI Survey. 2003. The American Council of Life Insurers. Agarwal, Vikas and Narayan Naik. 2000. “Performance Evaluation of Hedge Funds with OptionBased and Buy-and-Hold Strategies.” Working Paper, London Business School. Ali, Paul Usman and Martin Gold. 2002. “An Appraisal of Socially Responsible Investments and Implications for Trustees and Other Investment Fiduciaries.” Working Paper, University of Melbourne. Almgren, Robert and Neil Chriss. 2000/2001. “Optimal Execution of Portfolio Transactions.” Journal of Risk. Vol. 3: 5–39. Altman, Edward I. 1968. “Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy.” Journal of Finance. Vol. 23: 589–699. Altman, Edward I. and Vellore M. Kishore. 1996. “Almost Everything You Wanted to Know about Recoveries on Defaulted Bonds.” Financial Analysts Journal. Vol. 52, No. 6: 57−63. Altman, Edward I., R. Haldeman, and P. Narayanan. 1977. “Zeta Analysis: A New Model to Identify Bankruptcy Risk of Corporations.” Journal of Banking and Finance. Vol. 1: 29−54. Ambachtsheer, Keith, Ronald Capelle, and...
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...Mexico and the United States The rise of Mexico In this special report • • • • • • • • • From darkness, dawn »Señores, start your engines Bureaucrats and backhanders A glimmer of hope The gain before the pain Stretching the safety net The ebbing Mexican wave The other American dream The 31 banana republics Sources & acknowledgements Reprints America needs to look again at its increasingly important neighbour Nov 24th 2012 | from the print edition NEXT week the leaders of North America’s two most populous countries are due to meet for a neighbourly chat in Washington, DC. The re-elected Barack Obama and Mexico’s president-elect, Enrique Peña Nieto, have plenty to talk about: Mexico is changing in ways that will profoundly affect its big northern neighbour, and unless America rethinks its outdated picture of life across the border, both countries risk forgoing the benefits promised by Mexico’s rise. The White House does not spend much time looking south. During six hours of televised campaign debates this year, neither Mr Obama nor his vice-president mentioned Mexico directly. That is extraordinary. One in ten Mexican citizens lives in the United States. Include their American-born descendants and you have about 33m people (or around a tenth of America’s population). And Mexico itself is more than the bloody appendix of American imaginations. In terms of GDP it ranks just ahead of South Korea. In 2011 the Mexican economy grew faster...
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...2012 Doing business in a more transparent world C O M PA R I N G R E G U L AT I O N F O R D O M E S T I C F I R M S I N 1 8 3 E C O N O M I E S © 2012 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org All rights reserved. 1 2 3 4 08 07 06 05 A copublication of The World Bank and the International Finance Corporation. This volume is a product of the staff of the World Bank Group. The findings, interpretations and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818...
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...“WHAT IS THE RELATIONSHIP BETWEEN DIVERSIFICATION AND PERFORMANCE, PARTICULARLY IN EMERGING ECONOMIES? WHAT ARE THE FACTORS WHICH ARE RELEVANT FOR SETTING THE CONTENTS OF THAT RELATIONSHIP?” By João de Almeida Frazão Caro de Sousa Master Thesis Submitted to ESADE Business School in fulfilment of the requirements for the Degree of Master of Science in International Management ESADE Business School May 2012 Master of Science in International Management – ESADE Business School i Master of Science in International Management – ESADE Business School Table of Contents Introduction ..................................................................................................................................... 1 Theoretical Background 1. Diversification ......................................................................................................................... 5 1.1 General Observations ........................................................................................................ 6 1.2 Different types of diversification strategies....................................................................... 7 1.3 The costs and benefits of diversification ........................................................................... 8 1.4 Diversification Trends ....................................................................................................... 9 A. The Lack of Significant Relationship ................................
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...Inserción de Costa Rica en la Economía Mundial Los primeros 20 años en el Sistema Multilateral de Comercio Ministerio de Comercio Exterior de Costa Rica Enero, 2012 382.972.86 C8375i Costa Rica. Ministerio de Comercio Exterior Inserción de Costa Rica en la Economía Mundial: los primeros 20 años en el Sistema Multilateral de Comercio / Ministerio de Comercio Exterior.– 1. ed.– San José, C.R.: COMEX, 2012, enero. 278 p. ISBN: 978-9968-676-04-5 1. COSTA RICA - COMERCIO EXTERIOR 2. ECONOMÍA INTERNACIONAL. 3. POLÍTICA COMERCIAL. 4. SISTEMA COMERCIAL MULTILATERAL. I. Título INSERCIÓN DE COSTA RICA EN LA ECONOMÍA MUNDIAL Índice Prólogo PARTE I. Inserción de Costa Rica en la Economía Mundial. Proceso, Institucionalidad, Resultados y Retos Colaboradores y agradecimientos 1. 2. Introducción Evolución del proceso de inserción de Costa Rica en la economía mundial viii 1 4 10 15 16 20 23 30 40 40 42 43 45 46 47 49 50 52 53 56 57 59 61 61 64 64 67 71 74 84 85 95 96 100 103 103 109 109 vii 2.1 Primeros esfuerzos de promoción de exportaciones no tradicionales (1968-1983) 2.2 Nuevos esfuerzos en la promoción de las exportaciones no tradicionales (1984-2010) 2.2.1 Contratos de Exportación y Régimen de Admisión Temporal 2.2.2 Régimen de Zonas Francas 2.2.3 Apertura Unilateral 2.3 Negociaciones comerciales multilaterales 2.4 Negociaciones comerciales bilaterales 2.4.1 Tratado de Libre Comercio entre la República de Costa Rica y los Estados Unidos Mexicanos 2.4.2 Tratado de...
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...*IS1347* //integrafs1/cengage/3-Pagination/Cengage_US/Business_and_Economics/FFM13e/3B2/brigham_endpaper.3d, 11/16/11, 17:35, page: 1 FREQUENTLY USED SYMBOLS/ABBREVIATIONS ACP Average collection period ADR American depository receipt AFN Additional funds needed AMT Alternative minimum tax APR b Annual percentage rate Beta coefficient, a measure of an asset’s riskiness bL Levered beta bU Unlevered beta BEP BVPS CAPEX CAPM CCC Basic earning power Book value per share Capital expenditures Capital Asset Pricing Model Cash conversion cycle CF Cash flow; CFt is the cash flow in Period t CR Conversion ratio CV Coefficient of variation Dp Dividend of preferred stock Dt Dividend in Period t DCF Discounted cash flow D/E Debt-to-equity ratio DEP Depreciation D1/P0 DPS DRIP Expected dividend yield Dividends per share Dividend reinvestment plan DRP Default risk premium DSO Days sales outstanding e Approximately equal to 2.7183 EAA Equivalent annual annuity EAR Effective annual rate, EFF% EBIT EBITDA EPS EVA F Earnings before interest and taxes; operating income Earnings before interest, taxes, depreciation, and amortization Earnings per share Economic value added (1) Fixed operating costs (2) Flotation cost FCF Free cash flow FVN Future value for Year N FVAN g GAAP HVN I IFRS IPER I/YR INT IP IPO IRR LIBOR ...
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