Earnings Management and Financial Fraud Spotlighted by Enron Case

Fraud Cases have Put Earnings Management back in the...
immerman, 1990, Badertscher, 2011, Dechow, 1995, Healy and Wahlen, 1999). Although earnings
management is not a new phenomenon, the emerging of the fraud cases such as Enron, Lehman
Brothers, and other instances of financial fraud have again put this topic in the spotlight. Emerging
concerns over earnings management have led to new disclosure requirements and the
implementation of corporate good governance codes such as the Sarabanes Oxly Act (SOX),
tabaksblat and other corporate good governance codes to reduce this phenomenon within firms. The
role of financial reporting is to portray the economic position of a firm in a timely and credible
manner. These financial statements should serve as a useful information source for different
stakeholders in making economic decisions. For information to be useful it should be relevant and
reliable (accounting book). Because the reported earnings could affect the decision making of
stakeholders or contractual outcomes which are related to remuneration of managers or debt
covenants, managers have strong incentives to adjust earnings to a desired pre–determined level
(Watts, 1990) . Although established accounting standards limit the use of opportunism, the
determinant is that managers have flexibility in choosing the accounting method, and the existing
information asymmetry between them and external stakeholders allows them to prepare the financial
reports to their own advantage. Information asymmetry is the information advantage
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Clearing
PERFORMANCE OF CLEARING FUNCTION
MEANING OF CLEARING:
The word clearing has been derived from the word "clear" and is defined as:
CLEARING HOUSE:
Initially state bank of Pakistan provides the facility of clearing in its clearing house where
representatives of all banks sit together and interchange their claims against each other. But now
state bank of Pakistan has assigned this responsibility to National Institute of Facilitation
Technologies (NIFT).
It is one of the services provided by NIFT to other commercial banks. NIFT acts as a clearinghouse.
Different banks are the members of the clearinghouse. A representative of each bank represents his
bank in the clearinghouse.
Each bank has collected cheques as behalf of their customer but ... Show more content on
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As of May 2009, 40 commercial banks and their 5571 branches in 185 major cities, 20 data centers
utilize NIFT's services.
NIFT has setup elaborate data centers geared to provide automated services for document processing
particularly in the payment arena. Modern image based facilities have been established at Karachi,
Lahore, Islamabad, Peshawar, Rawalpindi, Hyderabad, Multan, Faisalabad, Quetta, D.I.Khan,
Sialkot, Gujranwala, Sukkur, Bahawalpur, Muzaffarabad, Jhelum, Abottabad, Mirpur, Sahiwal and
Sargodha. The services include cheques clearing, reconciliation, 'return' (unpaid) cheques
processing, same day clearing (express – 2 hrs. clearing service), intercity clearing and inter branch
& inter bank settlement. Services are provided at individual branch level to over 5571 branches in
184 major cities and smaller cities.
VI. SEND REPORT TO THE BANK:–
After delivering the cheques to different banks NIFT send report to Habib Bank Limited Mall
branch Lahore, then the bank's staff tally the amount of that report for its own record.
VII. DELIVERED CHEQUES TO RESPECTIVE BANKS:–
Next morning, these cheques are delivered to the respective banks between 9:00 to 9:30AM. In the
same manner, other banks present their clearing drawn on Habib Bank. Total number of cheques and
their amount delivered to other banks and received from them are written on the Clearing House
schedule branch for their payment. After proper scrutiny of cheques,

Chapter One Of Esty And Winston’S Research Novel, “Green
Chapter one of Esty and Winston's research novel, "Green to Gold", introduced the text's central
theme of the analysis of several businesses and their levels of sustainability, which is defined as the
avoidance of the depletion of natural resources. In the past, companies were viewed as simple
money–making enterprises; their only purpose was to provide goods and services to the masses.
They were held to virtually no responsibilities to the public outside of that goal. In recent year,
however, the viewpoint on a company's duty to both local and global community has immensely
shifted. Enterprises, big and small, are now held to higher standards: they can no longer just
produce. Government and consumers alike are demanding more from ... Show more content on
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The researchers of "Green to Gold" have put together three viable reasons for, as they say, "adding
the environmental lens" to business practices (Esty and Winston 11):
1. Upside benefits: Using Toyota as a primary example, Esty and Winston argued that a company's
decision to "go green" will more likely pique the interest of the public and influence them to buy.
Toyota's successful hybrid Prius, named Motor Trend's 2004's Car of the Year, is define this
argument (Esty and Winston 11). Toyota's intentional deviation from the advertisement ploys used
by competitors (focusing on size, speed, performance, ect.) and emphasizes on "green" delivered
them record breaking profits. Toyota saw the beginnings of a change in wants in their consumers
and took full advantage. Toyota's, along with BP, willingness to adapt and "go green" put them
above their competitors, making them appear more innovative and entrepreneurial.
2. Downside Risks: In this section, the research of "Green to Gold" illustrate the potential to cut
business costs by producing more environmentally friendly products: redesigning a process to use
less energy can lead to lower oil and gas costs (Esty and Winston 13). They also speak of certain
companies' recognitions of themselves as "prisoner(s) of the market" (Esty and Winston 12). Both
Shell's head executive Albert Bressand and Wal–Mart's CEO Lee Scott understand that they must
abide to

International Financial Management
EXAMINATION PAPER OF INTERNATIONAL FINANCIAL MANAGEMENT
Section A: Objective type
Part One:
1). Foreign exchange market in India is relatively very
Answer: b). Small
2). Balance of payment is a systematic record of all ___________ during a given period of time.
Answer: c). Economic Transactions
3). Merchandise trade balance, services balance & balance on unilateral transfer are the part of
_________ account.
Answer: a). Current Account
4). Interest rate swaps can be explained as an agreement between ___________ parties
Answer: b). Two
5). Capital account convertibility in India evolved in August
Answer: c).1994
6). Interest rate parity is an economic concept, expressed as a basic algebraic identity that ... Show
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So, domestic investors can benefit by investing in the foreign market.
If domestic interest rates are more than foreign interest rates, foreign currency must trade at a
forward premium to offset any benefit of higher interest rates in domestic country to prevent
arbitrage.
If foreign currency does not trade at a forward premium, or if the forward premium is not large
enough to offset the interest rate advantage of domestic country, arbitrage opportunity exists for
foreign investors. So, foreign investors can benefit by investing in the domestic market.
2). What are Direct & Indirect Quotes of exchange rates?
Forex rates in the currency exchange market are displayed in pairs by market makers (or dealers).
Exchanges rates on the other hand are forex rates or FX rates that represent the value of one

currency in relation to another currency. For e.g., 1USD = 96.62 JPY. This is the exchange rate
between the US Dollar and Japanese Yen, which means that 1 US dollar is equal to 96.62 Yen. This
would be represented as USD/JPY = 96.62. In other terms a spot exchange rate is one at which
currency can be sold or bought for immediate delivery which two business day after the transaction.
In spot exchange market the quote for a currency may be direct or indirect.
a). Direct Quotes : Direct quote means indicates how many units of local

Rbc Failure
The Royal Bank of Scotland has faced several controversies during the past five years. It had
entered into the mortgage backed securities scandal, the acquisition of Dutch Bank ABN AMRO,
suffered mass losses and had to be bailed out by the British Government which took almost 45
billion British pounds to keep it afloat. RBC is more than 80% taxpayer–owned but this did not help
the company to get rid of their legal problems that included a settlement of $500 million settlement
regarding ABN AMRO that was charged against violating the US economic sanctions for countries
such as Iran and it also changed its documents to cover up their wrongdoings. Recently, RBS had to
pay millions of dollars to settle down the LIBOR scheme. In 2015, RBC was proved ... Show more
content on Helpwriting.net ...
Because of the bank's repeated losses, the British government had to pay 20 billion bailout
becoming the main shareholders of the bank. RBS also took advantage of the government's asset
protection plan so that they could categorize the unwanted assets backed by taxpayers. RBS didn't
want to sell Citizens Financial Group in spite of the pressure but instead decided to close down its
insurance units and 300 branches in England and Wales. There was 80% rise in public stake of the
company in 2009 because of the capital infusion of 25 billion British pounds from the government
(Mattera, 2015).
Some of the legal issues includes that RBS was fined 28.6 million by the UK office of Fair Trading
for leaking confidential loan pricing information with the rival bank Barclays in March 2010. On
December 2011, a 450 page report was published by the Financial Services Authority about the
failure of RBS based on their poor management decisions such as relying on risky, short–term
whole–sale funding. This report also described the decrease in their asset quality and their failure in
preventing the weakening of the bank's capital stand (Mattera,

Essay about Cost of Capital at Ameritrade
In mid–1997, Joe Ricketts, Chairman and CEO of Ameritrade Holding Corporation, wanted to
improve his company's competitive position in deep–discount brokerage1 by taking advantage of
emerging economies of scale. The success of the strategy required Ameritrade grow its customer
base. The growth would require substantial investments in technology to improve service and
capacity, and in advertising, to increase customer awareness. The strategy would require large
expenditures relative to Ameritrade's existing capital. In order to evaluate whether the strategy
would generate sufficient future cash flows to merit the investment, Ricketts needed an estimate of
the project's risk.
Company Background
Formed in 1971, Ameritrade has been a pioneer ... Show more content on Helpwriting.net ...
Interest revenues were generated by charging customers on debt balances maintained in brokerage
accounts and the investment of customers' cash segregated in compliance with federal regulations in
short– term marketable securities. Interest revenues were offset by interest payments to customers
based on credit balances maintained in brokerage accounts.
Virtually all of Ameritrade's revenues were directly linked to the stock market. Investors generally
curtailed trading activity and their borrowing in response to sustained downward movements in the
stock market. For example, trading activity declined more than 20% in 1988 following the stock
market crash of October 19, 1987. A substantial decline in the stock market could therefore lead to a
steep decline in Ameritrade's brokerage commissions and net interest revenues.
Full–service brokers were less sensitive to market movements than deep–discount brokers like
Ameritrade. Full–service brokers received asset management fees, which partially shielded the
revenue stream from market declines. Moreover, most full–service brokerage firms such as Merrill
Lynch diversified their revenue stream by engaging in investment banking activities such as mergers
and security underwritings.
Planned Investments and the Cost of Capital
Ricketts planned to grow Ameritrade's revenues by

Coffe Cafe Industry- Barista vs Cafe Coffee Day
COFFE CAFE INDUSTRY– BARISTA Vs CAFE COFFEE DAY
OBJECTIVE The objective of this project has been to understand the marketing mix of Barista and
Café Coffee Day and compare the two firms in terms of their operations and other aspects. We took
up organized coffee retailing as we wanted to understand what it takes to sell not only a coffee but a
whole experience in a country where coffee is not as preferred & popular as tea. The firms that have
ventured into coffee retailing business in the country are Café Coffee Day, Nescafe Café, Café
Mocha, Georgia Coffee, Chimayo Chains owned Qwiky's brand of coffee pubs and Barista to name
a few. Out of these we chose Barista and Café Coffee Day for our study because of their popularity
and wide ... Show more content on Helpwriting.net ...
Being a consumer good, it can be classified as being a convenience good that be further classified as
both staple good (hanging out at Barista may be a routine for many people, young professionals) and
impulse good (for people who happen to pass by the wonderfully attractive and comfortable shop
after a day of shopping or hard work). It has a long list of product mix as indicated in the figure. The
product lines are indicated in columns. These individual items keep on changing according to the
unique seasonal promotional offers refer to http://barista.co.in/guiltypleasures/product.html all the
new offers.
Coffee & Teas Refreshing Alternatives Eatables
Coffee with milk Smoothies Sandwiches
Cappuccino
Caffe Mocha
Caffe Latte Guava
Mango
Grape Paneer Tikka
Cheese & Tomato
Smoked Chicken
Black Coffee Granitas Rolls
Espresso Italiano
Esperano
Americano Blue curacao
Lime Ice
Mixed Fruit Tango
Guava Crush Kadhai Paneer Roll
Chicken masala roll

Dessert Coffees Milk Based Pastas
Latte Bianco
Café Borgia Strawberry Freeze
Mocha Freeze
Icepresso Tangy Tomato Pasta
Creamy Chicken Pasta
Cold Coffees Iced Tea Other Foods
Brrrista
Brrrista Frappe
Brrrista Blast
Iced Caffe Mocha Lemon
Peach BBQ Chicken croissant
Coffee Add– Ons Other Drinks Desserts
Various Flavors
Chocolate Fudge
Whipped Cream
Espresso Shot
Ice cream Scoop
Ginger Fizz
Kinley Water Walnut Brownie
Mocha Express
Chocolate Express
Dark Temptation
Chocolate Mousse
Chocolate

Why The Investment Decision Is Financially Sound
How to invest ethically:– It is very important to research completely about the company before
investing .Company's history & finance must be reviewed to decide if the investment decision is
financially sound. Besides focusing on financial return, which is just one of the various aspects of
ethical investing, one must see how much company is committed to do ethical practices. Thus
companies ethics and investment performances– both must be examined clearly. Talking about
company's ethics–Every corporate website highlights a section on 'sustainability' these days.
However it is difficult to decide as to how much to believe of what has been read. Is the company
truly justifying "sustainability" or is it just a strategy towards building public ... Show more content
on Helpwriting.net ...
Such information is often seen in the websites of companies, but sometimes they give such
information to promote its positive image. So investors must verify all information's from reliable
sources like news articles, journals etc. and not just rely on the website. To add more to it, if one is
an angel investor or a direct investor in small cap businesses, information about the owner's plans of
the business for the upcoming years and his credibility must be known. One must also explore the
possibility of the right to participate in planning the future affairs of the company. If the task of
making investments is entrusted to a service provider one must check the background and the
reliability of service being provided to have some idea about the investment performance. Gaining
exposure towards ethical investing:– There are a number of ways to invest while maintaining ones
moral & ethical values.  One may select from number of SRI mutual funds available in Canada &
U.S.  One may consider investing in SRI Exchange Traded Funds (ETFs ) such as i–shares
Canadian Jantzi social index fund (TSX:XEN) in Canada and KLD 400 social Index
funds(NYSE:DSI) in the U.S..  Investors may also invest seeking the guidance of the research
firms that compile ESG ranking of the companies. Most ethical fund managers include a
combination of the two approaches (positive and negative

The, Colorado State College
Bai had for a long while been itching to figure out how to offer back to ladies, particularly rustic
ladies. By chance, this resounded with Anwar, who had lost his mom and close relative to sick
wellbeing and enduring. Around that time, a shot meeting with an educator in Boston wound up with
her doing MBA in Social and Feasible Endeavors from the Colorado State College in Stronghold
Collins, Colorado. Amid a field trek to test a few items for her strategy for success, Bai saw the
unclean surroundings of a healing facility and unsterile instruments that were being utilized at the
season of labor. For Bai, this was this feels familiar, she was helped to remember the disease she
endured when her first tyke was conceived, that had taken her a whole year to recuperate. "I
recommended to Habib to consider maternal wellbeing as a territory of center and in 2009, we
enlisted ayzh in the US," says Bai, about the choice to help establish a medicinal services item
organization alongside her husband Anwar. AYZH At the age of 33, she founded a company called
AYZH, through which she designed a crucial product for women and girls. In 2009 she co–founded
AYZH, together with the goal of bringing simplicity, dignity, plus read just before the poorest
women dressed in India through their orderly birth supplies in vogue a purse, ensuring a nontoxic
then hygienic delivery. Straight away she next her increasing touring company is intensifying their
supplies manner methodology toward entering

Ethical Issues Of Barclays
Barclays is a British multinational bank and finance services company founded in London. It
operates in retail, wholesale and investment banking, wealth management, mortgage lending and
credit cards. It is found in over 50 countries and territories and has around 48 million clients around
the globe. Its total asset is US$2.42 trillion as of December 2011 and is the seventh–largest of any
bank worldwide.
Barclays is further organized into four core business: Personal & Corporate (Personal Banking,
Corporate Banking, Wealth & Investment Management), Barclaycard, Investment Banking and
Africa.
Barclays started from a goldsmith banking business established in the City of London in 1690.
James Barclay partnered with the business in 1736. In 1896 several banks in London and the
English provinces, including Backhouse's Bank and Gurney's Bank, united as a joint–stock bank
under the name Barclays and Co. Over the following decades, Barclays expanded to become a
nationwide bank. Barclays introduced the world's first cash dispenser known as ATM in 1967. The
company has made numerous corporate acquisitions, including of London, Provincial and South
Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in
2000 and the North American operations of Lehman Brothers in 2008.
Barclays has a primary listing on ... Show more content on Helpwriting.net ...
They practiced dishonesty to gain more money. Gaining profit is not bad but they should do it
without the suffering of others and in a fair way. Barclays should risk their good reputation just
because they want to earn more money. They should also consider the effects of their decisions, not
just what they think is good for their company. What Barclays did was really against the rules. They
are not a good competitor because they did not follow the rules imposed not just to them but for all
the banks in their

Italian Npl Market
www.pwc.com/it The Italian NPL market Why investing in Italy? April 2011 PwC Foreword &
Content Foreword Given the recent increase in activity on loan portfolios in a number of key
banking jurisdictions across Europe, including Italy, and the complexity of the Italian NPL market,
we thought useful sharing the main features of the current market and the reasons on why this
market might be interesting from an investor perspective. As per our extensive experience in
advising both buyers and sellers in the main NPL deals arranged in Italy we would be happy to
provide you with further insights on such market and on how turning your investment goals into a
successful transaction. Kind Regards Content 1. The macroeconomic ... Show more content on
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These institutions are mainly represented by banking institutions (groups or individual banks) (ca.
91%) and the remaining part by specialized credit institutions (financial intermediaries – ex art 107)
active mainly in the leasing, consumer credit and factoring business. All credit institutions can be
broken down in the following 5 clusters4: Top – which include

Assessment of Santander Consumer Finance's Approach to Its...
Assessment of Santander Consumer Finance's approach to its international strategy In this report I
provide a critical assessment of Santander Consumer Finance's (SCF) approach to its international
strategy. In the first part, I analyse SCF's external environment by highlighting its history and
business model and also by applying Porter's five forces model. I follow by analysing SCF's internal
environment focusing on its structure and applying the resource based view model. I finish with a
critical assessment of SCF's strategy. In the second part, I evaluate SCF's managerial implications by
highlighting its strengths, weaknesses and potential solutions. Finally, I present some
recommendations for SCF's future strategy. I. ... Show more content on Helpwriting.net ...
In this situation where the manufacturers are neck to neck in competition, the indirect sale method
of SCF grasps what is left. It also manages to take a healthy share in the markets for used cars. The
bargaining power of the suppliers is limited to the type of deal they have with the dealers; it can
either be a baseline interest deal or the interest rate may vary. Automobiles manufacturers have
different criteria as they can manage to keep the interest rates lower than the ones set by SCF. The
bargaining power of customers is slightly greater than that of the suppliers. The number of suppliers
in the market is large and the consumer has the luxury of choosing from a variety of auto–financing
deals. The market has thus transformed into one of the most important ones especially after the
recent credit Crunch. Interest was cut down to as low as 1% in some cases to boost sales. Overall,
using the five forces from Porter's analysis, it can be concluded that the consumer finance market in
Europe and America (where Santander majorly operates) is pretty competitive especially because of
the fact that manufacturing units

Case Study Of Fortis
Q1: What, according to Fassin and Gosselin, were the key governance failures of the Fortis
Board in the period under review? Would you agree with their assessment?
A selected number of key events of the history of Fortis will be reviewed from different ethical
frameworks. The main theme of the paper focusses on the fairness of communication, shareholder
activism and conflicts of interest of CEO's merger opportunities. Also key to note is the fact there
was confrontation between Corporate Social Responsibility (CSR) and the reality raises questions as
to why the CSR guidelines and ethical principles did not help in the assessment of risk.
Brief Background:
The Fortis Group was the first mainland European Bank to fail as a result of the financial ... Show
However, one year after this acquisition, as a result of the crisis in the financial markets, trust
disappeared in the sector, leading to the collapse of the Fortis Group.
Main Body:
The article's purpose is to highlight Fortis's recent collapse as a basis for reflective considerations
from stakeholder and ethical perspectives. The Fortis case highlights the complexity of stakeholder
analysis & also the dynamic perspective in stakeholder theory.
What is interesting to note is the fact only one shareholder questioned the recklessness of the
ambitious strategy to commit €24 billion to acquire RBS, Santander & ABN AMRO. The
acquisition plan was supported overwhelmingly and won 95% of the votes. As the sub–prime crisis
started to have an impact in America, in order to finance the deal Fortis had to increase its capital
substantially.
The share issue in Sept 2007 was a success thanks to a huge discount premium. Shortly after, the
Chinese Financial Group Ping An took a 4.18% stake with the agreement of top Fortis Management.
As rumours of collateralised debt obligations in European Banks increased, a private placement

Localization Strategy
The Industry/strategy The industry Nestle will be in is the sector of Food and Beverages, the
industry that specializes in the conceptualization, the making of, and delivery of foods. This is the
sector in which the major part of the revenue of Nestle is earned. This field reflects the sector in
which they have the most knowledge and experience; here lies their core competence. Products sold
by Nestle in this industry range from bottled water such as 'Nestle Pure Life' to chocolate 'KitKat' to
frozen pizza's 'DiGiorno' to healthcare nutrition such as 'Boost' and many more.(NESTLE MAIN
SITE) Nestle main competitors are Kraft foods and Unilever, they posses rather similar
characteristics and knowledge Nestle has. The food and beverage ... Show more content on
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Due to all these characteristics in this industry and the assumptions given by the egalitarian
ecologies the best strategy for Nestle to pursue is a 'localization strategy'. This strategy aims at
producing products to mainly the local market, which is tailored to the preference of this market.
Since Nestle is a big player, it has all the necessary resources and abilities to partner or collaborate
with external parties. Trends in eating behavior and health are changing; Nestle therefor has to play
towards these changing trends. This localization strategy will be based on several future trends in
(healthier) food. On trend which is most in line with the localization strategy is on that is directed to
demographics. This meaning that (new) products are also tailored to preferences of different
generations such as the Baby Boomers to the Gen–Yers and what other names different generations
will get in 2040. These different generations will have different attitudes towards healthy and
performance–based eating. This is a major opportunity for Nestle to stay profitable in the future. A
second trend that will be embedded in Nestle strategy is to be more 'Foodie focused', this means
focusing of people who have a redefined in food. A successful strategy Nestle can pursue to

Bank One and LaSalle Bank Comparison Essay
Bank One
In 1929, Commercial National and City National Bank of Commerce of Columbus, Ohio, merged to
form City National Bank and Trust. City National offered the first Visa credit card outside of
California in 1966; it also created the first drive–up bank, and was one of the first banks to use
ATMs. A holding company called First Bank Group of Ohio was formed and it became Bank One in
1979. As interstate barriers to banking fell, the bank moved into Indiana, Kentucky, Michigan and
Wisconsin.
The First National Bank of Chicago and Bank One merged on October 2, 1998. The merger between
Bank One Corporation and First Chicago NBD Corporation created what became known as Bank
One, Chicago's largest bank (one of ... Show more content on Helpwriting.net ...
The commercial services is broken up into global cash management, commercial lending, loan
syndications, commercial cards, investment grade securities, derivatives, foreign exchange, and
global trade. On the credit–card side, the services can be further broken down into credit cards,
affinity cards, reward cards, smart cards, stored–value cards and business cards.
Its most competitive environment right now is its Retail and Credit card services. This unit of its
business has proved to be volatile and problematic for the bank. The unit has recently won some
important new alliances, including Amazon.com and Walt Disney Co. But analysts question whether
growth will ever return to the levels that were considered normal in the 1990's. According to Bear
Stearns', credit card loans is at the lowest level seen in 20 years, so there is intense competition in
that industry, one reason is because home equity loans are so low that card borrowing makes less
sense for consumers. While the bank has made a lot of progress fixing inherited problems,
competitors who are less burdened have continued moving ahead. Many of these competitors are
attacking Bank One in its core markets, including Chicago. Major players such as Bank of America
and Washington Mutual are entering this market, while established competitors such as Fifth

Abc 's Contracting Process For Raising Capital And...
had their revenue increased rapidly due to the expansion of the business by acquiring other learning
centers in Australia and other country. The year of 2003 to 2008 was ABC's remarkable period, since
they really show a significant increase of their revenue and profit within this period. As the effect,
their share price in the market also rocketed from A$2 per share in 2003 to A$8 per share in 2008.
However, this major increase has to come along with significant increase of debt from A$20.2
million in 2002 to A$1.8 billion in 2007. Based on the assessment of ABN–AMRO, ABC would be
a very profitable investment for Temasek, since July 2007 they stated that ABC's DCF valuation is
increased from A$8.45 to A$8.52, as well as ABC's share price target that increased from A$8.45 to
A$8.50. In spite of this promising future assessment, some observers are concerned regarding the
ABC's contracting process for raising capital and outsourcing capital for the learning centers.
Moreover, according to press articles, ABC had overpaid their acquisition for other learning centers
and also made business with companies that are owned by the member of ABC's Board of Directors.
Temasek hired Anna Chu to analyze companies that they have invested in and give regular report to
the fund manager. While she was happy with the ABN–AMRO assessment regarding ABC's
intrinsic value, she also has a doubt on whether the ABC's decisions are align with their shareholders
expectation. Until in

•How Clearly Did The Presenter Define And Explain The Key
How clearly did the presenter define and explain the key facts/issues? The presenter spoke clearly
and fluently, and introduced the term creativity with underpinned research and illustrations. The
introduction part is considered to be quite successful. At first, the presenter briefly introduced the
key contents of the presentation. Based on source found, the presenter then defined what creativity
is with its characters. Followed by assertive scholar research, the presenter posed an interesting
question, which supports creativity can be developed through proper management. Next,
straightforward illustration was applied to show different functions of human brain. In delivering the
presentation, the presenter demonstrated satisfied ... Show more content on Helpwriting.net ...
This part can be a very impressive starting point, introducing the fact that human automatically
relate new things happened with something within their experience (De Bono, 2015). And people
are biologically primed to learn from past events, which usually helps to us as it let us draw on our
background and experience and build on what we previously learned (De Bono, 2015). However,
people actually have to force themselves to think ' 'outside the box ' ' at times, therefore creativity is
needed. To assess the creativity and business, the six hats for parallel thinking was appropriately
illustrated by the presenter. Six hats technique was developed by Edward de Bono, providing
direction for group thinking and decision–making by transforming habitual thinking ways. The
presenter reminded and interpreted the value of creativity by emphasizing feasibilities and new
perceptions, reflecting the appreciation and understanding of the subject. But the research question
itself was not been answered adequately as the significance for creativity at work is not included in
the presentation.
How well was the presentation framed, structured and managed? The presenter structured
presentation in reasonable order. At the beginning, the presenter introduced the definition and then
explained the forming process of creativity, following by implements to mangers to advocate
creativity, the presenter added barriers to carrying out creative actions at

Banco Santander and the Acquisition of Abn Amro and Abbey...
Introduction and facts
1. Banco Santander
Banco Santander was founded in Santander and is the largest bank of Spain. Grupo Santander,
which is the 'umbrella' above the different activities and bancs in different countries, has almost
130.000 employees and 69 million customers. It is the twelfth largest financial group of the world
by market value.
2. Abbey National
Abbey is the sixth largest bank of the United Kingdom, with a leading position in the United
Kingdom mortgage market, a well–built distribution network, an established brand and a wide
portfolio of clients. In 2004, the bank was acquired by Banco Santander for EUR 15,6 billion and
became a wholly–owned subsidiary of Grupo Santander.
The two main business divisions are ... Show more content on Helpwriting.net ...
However, in April, the Royal Bank of Scotland got in touch with ABN AMRO to propose a deal in
which a group of banks including RBS, Fortis and Banco Santander Central Hispano would jointly
bid for ABN AMRO and thereafter, break up the different divisions of the company. According to
the proposed deal, the RBS would takeover ABN 's Chicago operations, LaSalle, and ABN 's
wholesale operations while BS would take the Brazilian operations and Fortis, the Dutch operations.
What followed was a bidding war and in October 2007, the group finally won the bid for Dutch
bank ABN Amro for $99,1 billion in the largest financial–services takeover ever.
Cultural contrasts:
Individualistic – Collectivistic
According to Hofstede, Great Britain is an individualistic country (score: 89), Brazil is a more
collectivist country (score: 38) and Spain is in the middle with a score of 51.
In a collectivist country an organisation puts the stress on the training of skills. That is what
Santander does with Abbey: they train the employees to improve the customer service
If we presume that the training of the UK employees happens after the working hours, they have less
personal time. But personal time is very important in an individualistic country, as Great Britain is
according to Hofstede, so this can create dissatisfaction among the UK staff.
In a collectivist country

Corporate Governance RBS Essay
The Royal Bank of Scotland Case
Nicole Kraemer (413991)
The rise and fall of the Royal Bank of Scotland is characterized by poor corporate governance which
allowed for the complete dominance of the executive management over the board of directors and a
massive principal–agent problem. Positive social dynamics and the power of weak ties allowed for
compliance while intimidation and bullying tactics silenced questions, concerns and opposition. The
board's utter compliancy and borderline negligence enabled rampant, unchecked empire–building at
the cost of shareholder value and led to a spiral of unaccountability and gross incompetence.
Stakeholders' loss of confidence from misinformation and misdirection was an inevitability that
sealed ... Show more content on Helpwriting.net ...
Talks about the legality of the merger delayed the sale of ABN, during which the housing market
situation worsened and analysts warned that the crisis was spreading up investment chain. During
this time, Goodwin admitted that RBS is involved in subprime mortgage trading but only
minimally17.
Here we see a failure of the board to look at management critically. They accepted only the
information presented to them by the CEO and did not demand a better picture on the state of RBS's
business in mortgage trading even while the CEO's story seemed to constantly be changing. The
board exists as a watchdog to the executive management yet nothing was done to hold the CEO
accountable to the truth.
Meanwhile, Goodwin ignored warnings of the worsening crisis while at the same time failing to
conduct a due diligence assessment of ABN's assets and in October 2007 the consortium secured the
takeover for €71bn18,19. The deal was unanimously approved by the RBS board and the payment
made in cash from the bank's reserves. This led to a fatal mismatch of the long–term assets and
short–term liabilities.
By December it had become apparent that ABN was heavily entrenched in exposure to subprime
loans and RBS lost over £1.5bn20. Despite repeated denials that RBS would not have to resort to
inorganic capital growth, Goodwin confirmed they would sell £12bn in new shares a couple months
later21. Faith rapidly evaporated, the market was thrown into chaos and share prices

Banks in India
Nationalisation of Banks
Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the
State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s,
the Indian banking industry had become an important tool to facilitate the development of the Indian
economy. At the same time, it had emerged as a large employer, and a debate had ensued about the
nationalization of the banking industry. Indira Gandhi, then Prime Minister of India, expressed the
intention of the Government of India in the annual conference of the All India Congress Meeting in
a paper entitled "Stray thoughts on Bank Nationalisation."[2] The meeting received the paper with
enthusiasm.
Thereafter, her ... Show more content on Helpwriting.net ...
One may also expect M&As, takeovers, and asset sales.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak
Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to
hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake
exceeding 5% in the private sector banks would need to be vetted by them.
In recent years critics have charged that the non–government owned banks are too aggressive in
their loan recovery efforts in connection with housing, vehicle and personal loans. There are press
reports that the banks' loan recovery efforts have driven defaulting borrowers to suicide
List of Nationalised Banks
1. Allahabad Bank
2. Andhra Bank
3. Bank of Baroda
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. Dena Bank
10. IDBI Bank
11. Indian Bank
12. Indian Overseas Bank
13. Oriental Bank of Commerce
14. Punjab and Sind Bank
15. Punjab National Bank

16. Repco Bank
17. State Bank of Bikaner & Jaipur
18. State Bank of Hyderabad
19. State Bank of India
20. State Bank of Mysore
21. State Bank of Patiala
22. State Bank of Travancore
23. Syndicate Bank
24. UCO Bank
25. Union Bank of India
26. United Bank of India
27. Vijaya Bank
List of New

Effect of Privatization
SBP Research Bulletin Volume 2, Number 2, 2006
OPINIONS
The Effect of Privatization and Liberalization on Banking Sector Performance in Pakistan
Umer Khalid∗ 1. Introduction
A well functioning financial system is necessary for enhancing the efficiency of intermediation,
which is achieved by mobilizing domestic savings, channeling them into productive investment by
identifying and funding good business opportunities, reducing information, transaction, and
monitoring costs and facilitating the diversification of risk. This results in efficient allocation of
resources, contributing to a more rapid accumulation of physical and human capital, and faster
technological progress, which in turn lead to higher economic growth. Anxious to ... Show more
Table 1. Dynamics of the Banking Sector
Number 1990 Assets Public Private Foreign Total Deposits Public Private Foreign Total 7 17 24 5
16 17 38 329.7 24.9 354.6 721.9 754.2 184.1 1660.2 93 7 100 43.5 45.4 11.1 100 7 17 24 5 16 17 38
392.3 33.4 425.6 877.6 968.3 280.9 2126.8 92.2 7.8 100 41.3 45.5 13.2 100 2002 Amount (Rs.
Billion) 1990 2002 Share (%) 1990 2002
Source: State Bank of Pakistan (2000) and (2002)
Opinions
405
This study would attempt to investigate the effects of privatization and liberalization on the
performance of the banking sector in Pakistan. We would be employing the CAMELS framework of
financial indicators to gauge the effects of privatization and liberalization policies pursued since the
1990s in the banking system, using bank level data from 1990 to 2002. Banking supervisors all over
the world are using the CAMELS framework of financial indicators to oversee the performance of
their respective banking systems. Recent studies indicate that substantial performance and efficiency
gains can be achieved by transferring ownership of banks/ financial institutions from the public
sector to private hands; a summary of these is given in the next section. The paper is divided into 5
sections. Section 1 presents the introduction; second section gives an overview of the relevant
literature. In the third section the methodology employed and the data used are discussed while

Financial Governance And Corporate Governance
Introduction This report provides an in depth analysis of RBS's corporate governance failure, in
order to provide the reader with the appreciation of the key role that corporate governance plays in
successful businesses and in social welfare. The RBS scandal is a perfect illustration of weak
corporate governance and failure of checks and balances by the required institutions which inflates
from the UK government to Auditing companies. The main objective of such report is to directly
address the RBS corporate governance scandal which affected a large portion of the UK economy in
2008. By doing so the writer applies relevant corporate governance theories, as he finds appropriate.
In 2007, RBS stood as one of the ecosphere's greatest ... Show more content on Helpwriting.net ...
In analysing such case study the main corporate governance theories discussed by the writer are the
following. The principle agent theory. The governance perspective is perceived as a contract
between Sir Fred Goodwin and the Shareholders. Such theory emphasis the fact that Sir Freed
Goodwin seeks to maximize his personal benefit and doesn't implement the assumed objective in
finance which clearly states that the agent should take investment and economic judgments with the
aim of long–term shareholder wealth maximization. RBS is a large company and as many big
corporation has a pervasive impact on society, which obligates accountability to many more sectors
of society and not only shareholders( Pearce, 1982; Freeman,1984 Hill and Jones,1992) and as the
case study demonstrates, in many instances RBS experiences a conflict of interest between different
stakeholders. Board Structure (RBS annual report 2008) Figura 1 Figure 1 illustrates RBS board
structure as presented on its 2008 annual report, given the reader a demonstration of how the power
was distributed within the organisation. Although at first appearance such structure seems

Porter's Five Forces Analysis Of Tourism Industry
There was a time when Indian families would plan their annual trip well before 6 months in
advance, after spending long & sweaty hours queuing up in front of ticket booths. Today, the rise of
Internet credibility coupled with falling rates of air travel has helped the air travel catapult to
glorious success.
With a turnover of INR 2,200 crores & over 50% market share, MMT is the single most recognized
and trusted player in the OTA industry. It is the largest online travel company in India and is the
second largest most visited travel website after IRCTC.
The Inception
After completing MBA from IIM Ahmedabad, the founder of MakeMyTrip, Deep Kalra worked for
ABN Amro Bank. At TechSparks 2013 in Delhi, Deep took the audience through this journey ...
Show more content on Helpwriting.net ...
The number has grown steadily and is expected to grow at an even faster rate due to reforms like:
Convenient Visa: Electronic tourist authorisations, known as E – Tourist Visa, launched by the
government of India
Higher investment in the sector: More than half of the Ministry of Tourism's Plan budget is
channelised for funding the development of destinations, circuits, mega projects as well as rural
tourism infrastructure projects. Increasing Income: Domestic expenditure on tourism is expected to
rise due to the growing income of households
Relaxed FDI norms: o 100% FDI is allowed under the automatic route in tourism and hospitality,
subject to applicable regulations and laws. o 100% FDI allowed in tourism construction projects,
including the development of hotels, resorts and recreational facilities o Tourism and hospitality had
a cumulative FDI inflows of USD8.45 billion in FY15
Government's Marketing and promotion strategy: The Goa Tourism Development Corporation
(GTDC) is planning to organise familiarisation trips or "fam" trips for international tour operators
and media to showcase Goa as a tourist

To what extent is diversification the best strategy to...
Novartis, a large multinational pharmaceutical company, recently diversified by buying Alcon, in a
£24.8bn deal. Alcon is a producer of eye care products such as contact lenses. Google has
diversified by investing £124m in a wind power business. To what extent is diversification the best
strategy to achieve profitable growth? Justify your answer with reference to Novartis, Google and/
or other organisations that you know. (40 marks)
Diversification – Practice under which a firm enters an industry or market different from its core
business.
Growth – The process of improving some measure of an enterprise's success. Business growth can
be achieved either by boosting the top line or revenue of the business with greater product sales or ...
Show more content on Helpwriting.net ...
For example In 2004 Branson was set to enter the music industry once again by diversifying into the
online music industry through an online music store service just like Apple. He also released his
own mp3 called the 'Pulse' that was to rival Apple's Ipod. Unfortunately he closed both products
later that year due to the fact that Apple kept releasing new products that made the 'Pulse' outdated
with Apple's high brand awareness, Virgin found it difficult to rival a large market leader therefore
caused them to retrench and withdraw their product. This shows that although diversifications seem
the best strategy for profitable growth, it does pose many risks especially when entering new
unfamiliar markets.
On the other hand there are also many other strategies that can achieve profitable growth such as a
takeover or a merger. Orange and T–Mobile were two mobile phone companies that had nearly
reached the end of their product life cycle in 2008 due to the rising popularity of other networks
offering new USP's such as 3's unlimited internet and Vodaphones 'freebees' perks. However with
the equal merger of the two companies in 2010 and performing under the new refurbished name that
is EE (everything everywhere), it is now the largest mobile network operator in the UK, with around
28 million customers. The synergy between these two companies has not only increased

The Pros And Cons Of FOREX Trading
New in the FOREX trade? Do not worry, it's easy to start Forex trading and you always try your
skills first in a demo account before you go "live" with real money. To start with FOREX trading,
we need to know what FOREX is. For those who are inexperienced, FOREX trading involves the
buying and selling of different currencies in the world. A FOREX agreement is made when one
person buys money and sells another at the same time. Always trade in pairs, Euro / USD, CHF /
USD, USD / JPY ... you get "short" in one currency each time you buy another and the income is
made when you buy low cost sell high.
The FOREX market is the largest trading market in the world. It produces an average transfer of $
1.9 trillion a day and the figure is almost 30 times larger than the total volume of stock trades in the
United States. Forex trading is unique because exchanges are made between two colleagues via an
electronic network or telephone connections. There is no centralized location such as stocks or
futures and transactions are done 24 hours a day. Daily FOREX operations begin when ... Show
The FOREX chart helps investors by providing a visual representation of exchange rate changes.
Many variables affecting exchange rates, such as interest rates, banking policies, geopolitics and
even the time of day, can affect exchange rates. As FOREX trader Peter Bain has said, the mapping
is a valuable FOREX trading tool. In his newsletter, he announced that the daily chart, hourly chart,
and 15–minute chart were used while working with FOREX. As quoted in his informative
newsletter – "The daily charts will help you set the overall trend from the point of view of the
trading position, and the hourly chart (one hour) will give you The chart is used for entry and exit –
with the help of the five–minute chart, where the price is changing rapidly, and you have to get
closer to the action.

Dabhol Power Project
Stakeholders: Identify all the major stakeholders in the DABHOL power project. What are the
intended benefits and costs of this project for the stake holders? Analyze the roles, responsibilities
and reward structure of the stake holders. Based on the case study do you foresee a need to change
the reward structure?
Enron, Bechtel Enterprises, and General Electric–through offshore subsidiaries–formed Dabhol
Power Company to build the first phase of a major power plant in Maharastra state in India. Later,
part of the equity was sold to the Maharastra State Electricity Board. Enron is also a stakeholder as
fuel supplier and as the operator of the plant. Bechtel's construction arm has engineering,
procurement, and construction stakes; ... Show more content on Helpwriting.net ...
MSEB
❖ Take–or–pay contract – MSEB to buy a minimum amount of electricity at a plant load factor of
90% as per 20yr contract irrespective of amount of energy used.
❖ MSEB to bear any increase in fuel price.
❖ MSEB to pay DPC $ 220 million per year.
❖ MSEB was required to build transmission lines from the power station to its power grid.
❖ MSEB to receive 30% profits of DPC annually.
State Government
❖ Guarantee from the state government in the form of Letter of credit for credit support also waived
sovereign immunity.
❖ Main recipient of electricity due to the paucity of energy in the state.
❖ Provide land for construction of the power station, power, communications, water, and approach
roads during construction.
Central Government

❖ Central government provided counter–indemnities.
❖ Escrow account over some of MSEB payments.
Oman Gas Company
❖ Entered into a contract with the DPC to supply gas.
Business Plan viability and Execution: Identify and discuss the original business plan of this project.
Given the data of this case, was the DABHOL power project a feasible and worthwhile business
proposition? In view of the business plan, critically comment on the project execution strategy.
Dabhol Power Company was a unlimited liability special purpose company (SPC) incorporated to

Vertical Occupational Mobility of Labour and Organization
Vertical Occupational mobility of labour and organizational commitment; Banking Sector of
Pakistan
ABSTRACT
The study of my topic i.e. vertical occupational mobility of labour and Organizational commitment
comes under Human Resource Management (HRM). HRM itself by its name describes that it is an
approach of people working in an organization which play an important role in achieving
organization's objective. This subject area basically helps in managing workforce to acquire
maximum efficiency. The Human Resources Management includes a variety of activities such as
whether to use independent contractors or hire employees, recruitment, time management,
workforce planning, training and development, performance appraisal etc. ... Show more content on
Helpwriting.net ...
The second data set is of 1970's Census of Population which resulted that occupational mobility and
inter–country mobility are not independent when accounted for different age and sex groups.
Larry D. Schroeder. (1976) created an occupational mobility matrix by observing mobility patterns
of non–movers and interstate movers of United States (observation period is five years or more),
after which it was evident that occupational and geographic mobility are affiliated which each other.
He further states that manpower planners must keep this relationship in mind when they project the
responses to their strategies to stimulate occupational and inter–state mobility.
Occupational Mobility and Wage Inequality
Nachum Sicherman & Oded Galor (1990) states that if a wage profile difference across
individuals in a firm is found workers will change their occupation or quit from that specific firm.
Furthermore, Gueorgui Kambourov and Iourii Manovskii (2004) in their study indicate that
occupational mobility and wage inequality are interrelated. They developed a general equilibrium
model which resulted that increase in occupational mobility is 90% because of the significant
increase in wage inequality over the time.
RESEARCH DESIGN
RESEARCH TYPE
The type of this research is applied which means to undertake investigation to acquire new
knowledge. Applied research is directed mainly towards a specific practical aim. This research is not

Chase's Strategy for Syndicating the Hong Kong Disneyland...
ADVANCED CORPORATE FINANCE
Chase's Strategy for
Syndicating the Hong Kong
Disneyland Loan
Group 1
AFNONIN, Artem 3035162144;
ARDERN, Jeffrey 3035160914;
GUPTA, Agrata 3035161097;
KUTUZOVA, Ekaterina 3035162156;
Disneyland – Chase Case Study
Q1: How should Chase have bid in the first round competition to lead the
HK$3.3 billion Disneyland financing?
After being approached by Disney to raise HK$3.3 billion nonrecourse loan package on a fully
underwritten basis, Chase had three options available to approach the deal:



No Bid
Bid to Lose
Bid to Win
Initially Chase decided to Bid to lose because Disney had been their important client however the
deal did not seem very attractive because of these reasons:
1. The deal had long tenor. ... Show more content on Helpwriting.net ...
Each of them varies role of Chase as an arranger of syndicated loans. It was quite good time for loan
syndication as there were good indications of market recovery and tightening of credit spreads
which meant higher liquidity on the market. Chase would include other underwriters to reduce
exposure risk and these underwriters would be confident in success of a deal due to favorable
economic conditions and solid reputation of Chase bank as a lead international underwriter. What's
more there is another argument in favor of success – HK government agreed to provide subordinated

loan of HKD 6.1 bn which is almost twice the size of syndicated loan provided by the banks.
Talking about potential threats – there is a case of Disneyland in Europe where the deal didn't go
smoothly at all and also maturity of loan – 15 years. Comparing it with average 3–5 years, it is
possible to deduce that there are some long term risks, which are definitely undesirable for Chase.
Also overall amount of loan is USD 423 million which is almost 3 times more than average
syndicated loan issued by
Chase in that year(1999).
So in the first strategy Chase would be single mandate arranger with 4 banks to act as sub–
underwriters and lead arrangers (therefore getting higher fees) in exchange for HKD 660M
commitment each. After that they will allocate it to 4 arrangers, 4 co–arrangers and 2 lead managers
totaling number of banks as
15. Final

Bank Of America Essay
Bank of America is known for being a bit of a risk–taking firm. Acquisitions make up a large part of
the past for the organization. Prior to the financial crisis in the early 2000's, Bank of America
acquired FleetBoston Financial in 2004, MBNA in 2005, and ABN AMRO North America and
LaSalle Bank Corporation after that. The acquisitions provided advantages to set the organization
apart from the competition. They were able to become a major player across the world and became a
major credit card issuer as well.
Another acquisition of Countrywide Financial provided the ability to make a strong stance in the
mortgage business landscape. A major merger for the company, with Merrill Lynch, was originally
thought to be surrounded around some ... Show more content on Helpwriting.net ...
IFE Matrix
Internal Strengths Weight Rating Weighted Score
1. Large firm in the market 10% 4 0.40
2. Global competitor 5% 4 0.20
3. Innovative capabilities 12% 3 0.36
4. Internal strength capabilities 4% 4 0.16
5. Strong acquisitions 5% 4 0.20
6. Increasing cash flow 4% 3 0.12
7. Merrill Lynch name 3% 3 0.09
8. Good reputation 8% 4 0.32
9. Customer programs 4% 3 0.12
10. Sustainable operations 4% 3 0.12
Internal Weaknesses
1. Debt repayment abilities 15% 2 0.30
2. Operation costs 8% 2 0.16
3. Overcoming past sketchy mergers 4% 1 0.04
4. Executive loyalty 4% 1 0.04
5. Risk management 10% 1 0.10 major weaknesses (1), minor weaknesses (2), minor strength (3),
major strength (4)
Total Weighted Score 100% 2.73 EFE Matrix
Opportunities Weight Rating Weighted Score
1. New customer markets 12% 2 0.24
2. New technology designs 10% 4 0.40
3. Acquisitions 8% 3 0.24
4. Global competitiveness 11% 3 0.33
5. Innovation 16% 4 0.64

Threats
1. Financially sound competitors 15% 2 0.30
2. Economy stability 8% 3 0.24
3. Key executive retention 5% 2 0.10
4. Bad publicity 10% 2 0.20
5. Government regulations 5% 1 0.05 poor (1), below average (2), above average (3), superior (4)
Total Weighted Score 100% 2.74
RUNNING

Land Sector
Land Sector – The India Story
Put together by
Miss Sonia Sahni
Asst Manager
Corporate and Investment Banking,
ABN AMRO Bank
Nariman Point
Mumbai
India 400021
Cell: +91 9833097087
soniasahni@gmail.com
Prachi Phadnis
Foreman – IBM worldwide administrations
Email: prachiphadnis@gmail.com
Land Sector – The India Story
Current Scenario of the Real Estate Market in India
Business land division is in blast in India. In the most recent fifteen years, post liberalization of the
economy, Indian land business has taken an upturn and is relied upon to develop from the current
USD 14 billion to a USD 102 billion in the following 10 years. This development can be ascribed to

good demographics, expanding acquiring force, presence of client benevolent banks & lodging fund
organizations, demonstrable skill in land and ideal changes started by the legislature to draw in
worldwide speculators
Qualities of the Real Estate Market in India Greater accessibility of data Emergence of
straightforwardness and liquidity Entry of universal land consultancies Governing lawful system
loose Competitive valuing
Realization of huge business ventures
IPOs by designers
Gradual association of the businesses in the Tier I urban areas
Developing Market Demand
Reason Effect situation prompting rise of sorted out land advertise in India
The property advertise in India has customarily been chaotic and divided. In any case, the later past
has seen a

Barclays Plc and Abn Amro Case Study
[pic]
London School of Commerce
MBA E
BARCLAYS PLC AND ABN AMRO CASE STUDY
ASSIGNMENT
London
UK
As one of the world's leading banks, with 135,000 employees in more than 50 countries, Barclays
plays a significant role, from working with governments on major infrastructure projects to bringing
banking to customers in emerging markets. Barclays is made up of two major businesses: Global
Retail and Commercial Banking (GRCB) and Investment Banking and Investment Management
(IBIM). There strategy is to achieve growth through time by diversifying their profit base making
their growth relevant to their customers at all times. This case study will seek to examine the bid and
intended acquisition of ABN AMRO, and the early acquisition ... Show more content on
Helpwriting.net ...
According to group´s performance from 2002–2006 identifies that Barclays´ performance
underpinnings are represented by its strategy of acquiring other banking (such as ABN Amro and
Banco Zaragozano) concerns to expand its retail as well as other banking services through
representation in international markets as represented by the bank's presence in 60 countries. This
provides Barclays with the means to sell its highly profitable investment banking services as well as
be positioned to service the cadre of multinational companies that utilize its diverse banking
financial service packages.
On the other hand, ABN AMRO bank has a presence in 76 countries and territories. Using its
worldwide network the bank provides universal banking services consisting of commercial and
investment banking products to corporate nationally and internationally operating clients as well as
personal and private banking customers. In 2007, Barclays announced the proposed acquisition of
ABN AMRO bank, in order to expanded their distribution base. The deal was valued at €67 billion.
On October, the RFS consortium led by Royal Bank of Scotland, bidding for control of ABN
AMRO, formally declared victory after shareholders, representing 86 percent of the Dutch bank's
shares, accepted the RFS group's €70bn offer.

Barclays is known a consistent performer delivering steady profitability results, 20% increase in
profit before

How Businesses Can Incorporate Csr Into Their Business Model
Topic: Describe ways businesses can incorporate CSR into their business model.
Introduction:
Many large corporations are taking corporate social responsibility into account and making it a part
of their everyday schedule. Over the past decades, there have been increasing concerns for general
society that many businesses have little concern for the consumer and they care nothing about the
deteriorating social order. But these days' companies are encouraging employees to volunteer and
make a difference in surrounding communities. In this way they are supporting and improving the
quality of life and enhancing the vitality of the communities in which they operate. There are many
organizations that are encompassing CSR into their plan of action and also they are making new
policies that can be beneficial for society. There are so many ways to incorporate corporate social
responsibilities into business modules such as health, education, environment and helping in natural
disaster.
Corporate Social Responsibility is concerned with treating the stakeholders of a company or
institution ethically or in a responsible manner. That means treating key stakeholders in a manner
deemed acceptable according to international norms. Social issues include economic and
environmental responsibility. The wider aim of social responsibility is to create higher and higher
standards of living. CSR is a process to achieve sustainable development in societies. CSR was once
called social responsibility

International Case Study: ABN AMRO
Group operating profit, excluding credit market write–downs and one–off items, impairment losses
on reclassified assets, amortization of purchased intangible assets, write–down of goodwill and other
intangible assets, integration costs, restructuring costs and share of shared assets, was £80 million,
compared with a profit of £10,314 million in 2007. Losses also rose to £7,781 million, compared
with £2,387 million in 2007. The loss before tax of Group recorded of £25,038 million, compared
with a profit before tax of £8,962 million in 2007. Total income also declined to £26,875 million,
while total net interest income rises to £15,939 million, with average loans and advances to
customers up 17% and average customer deposits up 6%. Operating ... Show more content on
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Before the acquisition, RBS understood that ABN AMRO would receive approval for its IRB
models. But after acquisition ABN AMRO's progress towards IRB approval raised questions about
how RBS, would be able to comply with Basel II at the consolidated level so, ABN AMRO
withdraw its application and did not receive approval. ABN AMRO and DNB agreed that ABN
AMRO would continue to report capital on the basis of Basel I which included minimum ratio of
9% for tier 1 and for total capital it was 12.5%. The risk associated with the fact that ABN AMRO
had not received IRB approval yet. In 2008 there were internal FSA discussions related to RBS's
first quarter reporting approach and the approach finally by the FSA to calculate capital
requirements based on Basel IRWAs with an uplift of 30%, ABN AMRO will continued to operate
on this basis and this approach produced a higher capital figure than the Basel II IRB model–based
approach would have done. And this higher capital requirement additional strain on RBS's capital
resources and contributed to RBS's apparent fall below individual capital guidance as at end March

Assignments for International Business Management
Assignments for International Business Management
Assignment 1:
The TATA case
Tata Cars, India, has become the focus of public attention, and has caught the beady eyes of
competitors in the automobile industry since it announced it would put the cheapest car ever on the
market – first in India, but eventually also in the rest of the world.
This plan is seen as a revolution in the car industry. Many potential customers all over the world
anticipated the arrival of the Tata Nano. Millions of people who otherwise would not have the
resources to buy a car, now saw a chance looming that they, too, would have that opportunity.
Tata now has to figure out a way to enter the Western markets, including the Netherlands.
Analyze their ... Show more content on Helpwriting.net ...
What is the situation of the repayment of the debt to the government? What consequences doe the
restructuring of ABN–Amro and Fortis have, for the bank itself and for its customers?
Do the necessary research in the papers of the last year to get information and to form an opinion.
Then write an essay in which you analyse the situation and come to conclusions.
Assignment 3:
Do research on and analyze the position that Asian countries are taking in the Euro Crisis.
Are they likely to come to the rescue? Why? Why not? What form would or should that rescue take?
–––––––––––––––––––––––––––––––––––––––––––––––––
Assignments for Logistics
Assignment 1
Do push and pull oriented automobile supply chains suffer to the same extent of the economic crisis,
or is one or the other less or more affected?

Assignment 2
Identify and explain a recent theory as a driver for change with regards to logistics. What are the
consequences of this theory for the present–day logistical processes?
Assignment 3
Analyse the phenomenon of empty containers in some ports, and the scarcity of containers in other
ports. Describe the causes, and find potential solutions. Is this phenomenon a sign of a bad
economy?
Assignment 4
Arctic Logistics
Analyze the positive and/or negative consequences of global warming on arctic logistics (logistics in
arctic areas such as Alaska and North Canada).

International Financial Management
EXAMINATION PAPER OF INTERNATIONAL FINANCIAL MANAGEMENT Section A:
Objective type Part One: 1). Foreign exchange market in India is relatively very Answer: b). Small
2). Balance of payment is a systematic record of all ___________ during a given period of time.
Answer: c). Economic Transactions 3). Merchandise trade balance, services balance & balance on
unilateral transfer are the part of _________ account. Answer: a). Current Account 4). Interest rate
swaps can be explained as an agreement between ___________ parties Answer: b). Two 5). Capital
account convertibility in India evolved in August Answer: c).1994 6). Interest rate parity is an
economic concept, expressed as a basic algebraic identity that relates Answer: b). ... Show more
This led to the devaluation of national currencies and a decline in world trade. This breakdown in
international monetary cooperation created a need for oversight. The representatives of 45
governments met in the Mount Washington Hotel in the area of Bretton Woods, New Hampshire in
the United States, and agreed on a framework for international economic cooperation to establish
post–World War II. The participating countries were concerned with the rebuilding of Europe and
the global economic system after the war. During 1940, Harry Dexter and John Maynard Keynes put
forward proposals for a system that would encourage the unrestricted conversion of one currency
into another, establish a clear and un equivocal value for each currency and eliminate restrictions
and practices such as competitive devaluations. After much negotiations in the difficult wartime
conditions, the international community accepted the system and an organization was formed to it.
Members & Administration The IMF began operations in Washington DC in May 1943. It then had
39 members. Presently the members of the IMF are 188. Any country may apply to be a part of the
IMF. Post–IMF formation, in the early postwar period, rules for IMF membership were left
relatively loose. Members needed to make periodic membership payments towards their quota, to
refrain from currency restrictions unless granted IMF permission, to abide by the Code of Conduct
in the IMF

The Netherlands Has A Well Developed Financial System
"The Netherlands has a well–developed financial system that is largely focused on global financial
markets and trends. It is centred largely around Amsterdam, which hosts some of the most notable
global banks of Dutch origin, among them ING Group, Rabobank and ABN AMRO, and large
international banks. In addition, we host a broad range of private equity investors and venture
capital funds, as well as trust fund managers" (hollandtradeandinvest.com, n.d.). The primary focus
of this Module 2 Session–Long–Project (SLP) is to respond to certain queries concerning the
financial stability within the Netherlands. Consequently, this essay will initially elaborate upon
certain aspects concerning the currency of this country. Along with, ... Show more content on
Helpwriting.net ...
Nevertheless, we will further develop this essay by analyzing the banking system of the
Netherlands.
Banking System "The banking system of the Netherlands includes the central bank as a major
financial institution in the country and numerous commercial, mortgage, savings and other banks"
(banknetherlands.com, n.d.). The earliest form of a recorded banking system within the Netherlands
commenced in 1814 with the launch of the Bank of the Netherlands, translation for De
Nederlandsche Bank (DNB). This bank's headquarters is located in the city of Amsterdam. The
primary function of this bank is to establish both the fiscal and operational supervision of the other
accredited registered financial institutions within the country (banknetherlands.com, n.d.). ABN
AMRO a bank that was mentioned earlier in this paper is one of the Netherland's more prodigious
banks. With respect to total assets ABN AMRO, "ranks eighth in Europe and the thirteenth in the
world. The Bank has 4500 branches in 53 countries and employs more than 105 thousand people.
The bank's total assets amounted to EUR 1,120,100,000" (banknetherlands.com, n.d.). Now, this
essay will concern itself with the safety of this nation's banking institutions.
Andrew Henderson an author with the Nomad Capitalist website indicated that the Netherlands
came in

Deutsche Bank vs Santander Performance Comparison
Introduction With this assignment, we intend to analyze and compare the performance of two of the
biggest European banks during the past 5 years: Santader and Deutshe Bank. We do this taking into
account the difference in their activities (such as the impact on commercial banking activities vs
traditional retail banking) as well as the markets in which they operate. In the first part of this paper,
we will take a brief overview of both banks recent history and current situation, and then proceed to
analyze the main differences between both banks balance sheets and income statements for the past
5 years. Finally, we present conclusions about the main differences between these banks, and about
the recent performance trends of the two. ... Show more content on Helpwriting.net ...
In addition, its Consumer Finance division operates through Scandinavia and other European
countries. Its shares are listed on the stock markets of Spain, New York, London, Lisbon, Mexico,
Sao Paulo, Buenos Aires, and Milan, and are featured on 62 different indices. It operates in four
segments: Continental Europe, United Kingdom, Latin America and Sovereign. Continental Europe
segment covers all retail banking business, wholesale banking and asset management and insurance
conducted in Europe, with the exception of the United Kingdom. United Kingdom includes retail
and wholesale banking, asset management and insurance. Latin America includes the specialized
units in Santander Private Banking, as an independent globally managed unit. Sovereign includes all
the financial activities of Sovereign, including retail and wholesale banking, asset management and
insurance. On March 10, 2010, Santander Private Banking UK Limited completed the sale of James
Hay Holdings Limited (including its five subsidiaries). Santander's has a unique position in
international banking: combining recurring retail business and geographical diversification. This
company have been demonstrating the capacity to consistently increase revenues and generate value
for its

Tiffany Case
Question 1a:
Tiffany should go public since an IPO would be able to bring in fresh equity to fund growth, and to
establish a relatively liquid and efficient market for the company 's shares.
Tiffany has a strong brand and would be able to attract investors during the IPO process. Tiffany
option of IPO was favorable since it had positive operating results for the past months.
Since the terms of renegotiating the terms of the GECC revolving credit were not encouraging ,
management of Tiffany consideration of getting funding via the IPO route made sense.
IPO would help the management of Tiffany to repay GECC completely and free the company to
make alternative borrowing arrangements.
Since the operating cash–flows where not steady, ... Show more content on Helpwriting.net ...
Most term loans require a 10–20% down payment.
Personal Credit. Leases do not show up on Amazon Mines's personal credit report. Bank loans will
show up on its credit report and may keep it from getting further credit .
Improved Cash Forecasting. The lessee knows the amount and number of lease payments so they
can accurately forecast the cash requirements for equipment.
Upgraded technology. If the nature of Amazon Mines industry demands that they have the latest
technology, a short–term operating lease can help it get the equipment and keep their cash. Amazon
Mines risk of getting caught with obsolete equipment is lower because it can upgrade or add
equipment to meet its ever–changing needs.. A lease provides the use of equipment for specific
periods of time at fixed payments. The lessor assumes and manages the risk of equipment
ownership.
Flexibility. As Amazon Mines business grows and it needs change, it can add or upgrade at any
point during the lease term through add–on or master leases.
Question 3:
A young firm NCI Corporation builds wind power driven energy systems. It is considering raising
$400 million in debt capital for an expansion project and can issue bank debt at 16% or junk bonds
at a yield of 14%.
(a) Explain why bank debt is more expensive than public debt
(b) Discuss the major pros and cons of each alternative for NCI.
Bank debt vs Public Debt:
Private debt comprises bank–loan type

Case Study: Imbalie Beauty
Growing up in the capital of Pretoria with an army father, Esna Colyn had a loving but tough
upbringing. The principles of never giving up, discipline, hard work and perseverance were
drummed into her as a child and have enabled her to shine in academia and athletics as a pupil.
Unknown to Colyn at the time was that this hard line parenting style was preparing her for an
eventful life and the working world. But the world of entrepreneurship and deal–making was foreign
to Colyn. In fact, after matriculating at [name of school] Colyn went overseas to work as an au pair
– a time in her life she describes as "learning to work in a house, do the basics and really appreciate
life." She has come a long way since then, having carved out an impressive ... Show more content
on Helpwriting.net ...
Name changes followed. Subsequent to the listing, previous management acquired the Dream Nails
business which saw the name change of the company to Skinwell but this didn't fit well and reflect
its diverse beauty offering resulting in the name change to Imbalie Beauty. Arguably the biggest
challenge she inherited was the company's ten–year–long battle with the South African Revenue
Service (Sars) over unpaid taxes, as a syndicate uplifted cheques between Absa and Sars. A
settlement was reached in November between Imbalie and Sars. The beauty industry no doubt tough
with Imbalie and its competitors Sorbet, Dermalogica and thousands of independent skin–care
operators, all vying for the same pool of consumers whose pockets are increasingly constrained. In
response to market headwinds, Colyns says it's important to be in tune with customers. "In
December, I would go work at a salon to stay in touch with the practicality of things. I have a good
relationship with our franchisees. It doesn't help opening beautiful salons and you don't support

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