Evaluate The Impact Of Human Capital Disclosure On...

Evaluate The Impact Of Human Capital Disclosure On...
Methodology
The paper ascertained the impact of human capital disclosure on shareholders' value using panel
pool, fixed and random models in Nigeria oil and gas companies from 2004 to 2016. The work uses
secondary source of data in an attempt to achieve the set objective of the study and to solve the
problem under study. The secondary data were obtained from the annual financial reports of selected
listed oil and gas companies as released by the Nigerian Stock Exchange over the period 2005 –
2014. Measurement of Variables
The dependent variable; Shareholders' value as used in this study was measured similarly to the one
used by Olayiwola, (2016) which have been widely embraced in the literature as shareholders' value
and is measured ... Show more content on Helpwriting.net ...
(2)
Where:
DPS = Dividend Per Share (proxy for shareholders' value)
HCD = Human Capital Disclosure/Costs (In aggregate)
U = error term
HCR .................... +/–
Human capital costs comprises of Salaries and Wages, Training Cost, Retirement Benefits,
Medical/Health and Labour Turnover
The aggregate of the indices for measuring human capital disclosure shall be regressed against the
dividend per share of companies to determine the impact of labour cost accounting information
disclosure on the profitability potential of oil and gas companies.
Relationship between dividend per share and shareholders' value of oil and gas companies
Dependent Variable: DPS
Method: Panel Least Squares
Date: 06/22/17 Time: 05:19
Sample: 2004 2016
Periods included: 13
Cross–sections included: 9
Total panel (balanced) observations: 117
Variable Coefficient Std. Error t–Statistic Prob.
Salaries & Wages (N '000) 0.333528 0.105231 3.169481 0.0020
Training Cost (N '000) 0.242760 0.098147 2.473436 0.0149

Retirement benefits (N' 000) 0.171664 0.197811 0.867815 0.3874
Pension Provident Fund (N '000) –0.015787 0.119144 –0.132508 0.8948
Medical/Health (N '000) 0.179497 0.095314 1.883211 0.0623
Labour Turnover Ratio –0.014291 0.075641 –0.188930 0.8505
C –2.272480 0.682633 –3.328994 0.0012
R–squared 0.416917 Mean dependent var 2.334626
Adjusted R–squared 0.385112 S.D. dependent var 0.611377
S.E. of regression 0.479410 Akaike info criterion
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Analysis of Capital Market Efificiency and the Efficient...
Capital market efficiency is concerned with assessing the movements of security prices over
different time horizons. In this paper, I will briefly discuss capital market efficiency and then finish
with an extensive discussion of the Efficient Market Hypothesis (EMH), which is a leading theory in
explaining some of the major reasons for fluctuations in security prices. From this perspective, we
will examine the three forms of efficiency, supporting and opposing arguments of the EMH,
alternative theories, and potential modifications to the model.
Capital Market Efficiency
The subject of market efficiency is a rich one. Some contend that it is a subject with many
conflicting views about how financial markets react. Others contend that the ... Show more content
on Helpwriting.net ...
The answers to these questions are the building blocks of the EMH.
The Efficient Market Hypothesis
The EMH is a theory developed by Eugene Fama. The main premise of the theory is that, at any
moment, financial securities reflect all available information. The market implication for this belief
is that it's almost impossible to beat the market, based on information alone. In a paper titled, Stock
Market Price Behavior, Fama asserts that security prices are an accurate reflection of all available
information. He also labels markets that reflect all available information as efficient. In addition to
the labeling of financial markets as efficient, Fama also puts forth different degrees of efficiency.
Three forms of efficiency
The efficient market hypothesis exists in three forms, weak, semi–strong, and strong form. The first
form is considered weak because it assumes the stock's price is a reflection of its historical
relevance, which includes accounting data (financial statements) and other publicly available
information. At this level, such information is considered immaterial in causing the price of a stock
to change. The second form is semi–strong, and it's concerned with market adjustments. In other
words, how do the markets react to all available information? At this level, all "accessible"
information is assumed be reflected in the stock's price, which can range from historical to future
oriented information made available through public

Efficient Capital Markets : Theory Section Essay
Gary Miller
ECON 584 Seminar Paper: Theory Section
12–14–16
Introduction
Many extensive studies have been conducted on the behavior of stock prices, which has provided a
numerous number of theories that propose how prices will change given certain circumstances. The
most fundamental theory on the behavior of the stock market was published in 1970 by Eugene F.
Fama in his research, titled Efficient Capital Markets: A Review of Theory and Empirical Work. The
theory he proposed is referred to as the Efficient Market Hypothesis (EHM) and is considered to be
one of the most classical and resilient economic theories. In his work he proposes the securities
markets are extremely efficient in a way that information about individual stock prices is reflected
across the market so quickly that an investor cannot beat the market, meaning a portfolio comprised
of similar risk stocks will generate comparable profits. Furthermore, this theory suggests that stock
prices are entirely unpredictable, such that the only relevant information on what the price of a
specific stock will be tomorrow is the news that occurs that given day.
Within the past few decades countless numbers of research papers have been published that
challenge this theory, suggesting that stock prices can be predictable to a certain degree, largely due
to elements of behavior and psychology. One of the most popular theories that suggests there exists
a predictable pattern of stock price changes, is the concept of

Essay about Capital Markets and Investment Banking Process
Capital Markets and Investment Banking Process Capital Markets and Investment Banking Process
The investment environment is vast and can be overwhelming if not entered into correctly. Firm's
issuing new securities to enhance revenues understand the complexities and risks involved when
entering the primary market, and will employ investment bankers to mitigate those risks. Described
throughout this paper is the investment banking process and portfolio construction, factors for
selecting the portfolio asset classes, the capital market instruments used in portfolio construction,
and recommendations for the composition of an investment portfolio. Investment Banking Process
and Portfolio Construction Investment bankers work with ... Show more content on Helpwriting.net
...
This is an important factor to consider when deciding asset classes because asset classes that
perform better long–term, such as stocks, could create a portfolio loss if the investor had only
required a short–term investment and sold the stocks too soon while they were down (Investor
Guide, 2010). If the investor had realized their short–term time horizon they could have purchased
securities in the money market, such as a U.S. Treasury Bill, and avoided the portfolio loss. The last
factor to consider in creating an investment portfolio, and during the asset allocation process, is the
level of the investors risk tolerance. The risk tolerance factor is very important to consider because
depending on the level of risk the investor is willing to take on will determine the asset class with
the best suited securities, and the level of diversification needed to maintain that desired level of
risk. Creating an investment portfolio can be overwhelming for investors when deciding on the asset
classes that work best for their portfolio. However, during the asset allocation process investors
should consider three factors in their investment needs to aid in the elimination of the asset classes
that least fit those needs. An investor that factors in their goals, investment time horizon, and level
of risk tolerance will narrow down the asset classes that will likely meet their investment

Effects Of Insider Trading Regulations On The Capital Markets
Introduction
The concern of this paper is the effects of insider trading which constitutes whether to support or to
reject insider trading regulations. Whether insider trading should or should not be regulated in the
capital markets is a difficult question to answer due to ethical and rational concerns. A suitable
answer is an answer that must be sufficient enough to satisfy both types of concerns appropriately.
This paper contains three sections to this topic: for regulation, against regulation, as well as a
personal critique. Due to the nature of this touchy subject, this topic of insider trading regulations
has been one of the most controversial debate ongoing for decades by many intellectual authors.
Few of these authors' insights will ... Show more content on Helpwriting.net ...
If not so, then inside–traders would have a significant advantage over outsiders; thus leading to a
higher rate of return against the statistical mean. This however is not what pro–non–regulation
supports view as practical. Rather than a fair trading ground, they propose that price moving
efficiency as significantly more important. Thomas Lambert, an author who defends the idea having
regulations against insider trading, proposes a more middle–ground solution that would loosen
regulation while maintaining some but not all current regulations. His proposal suggests that the
SEC should not regulate price decreasing tactics, whereas to leave price–increasing tactics
regulations fixed. In fairness to his proposal, it can be a remedy that would correct over–valued
equity prices, while protecting under–valued equity. Not only would it satisfy the intentions of anti–
regulation supporters, but it could fix ethical concerns regarding manager behaviors. Now there are
many reasons as to why regulations must stay fixed in place against inside trading. It would give
way to an unfair advantage to investors holding privileged information.
While possessing undisclosed information, managers would be able to take on risky projects that
may have been above their risk tolerance. In other words, insider trading is practically used for two
purposes: to maximize gains and to minimize risk. The price of a firm's stock reflects the valuation

Capital Markets and the Investment Banking Process
Investment banks provide a wealth of critical services to our economy. One important role of the
investment bank is to assist public and private corporations in raising funds in the capital markets. A
second service is in providing strategic advisory services for mergers, acquisitions and other types of
financial transactions. They also act as intermediaries in trading for clients. Investment banks differ
from commercial banks, which take deposits and make commercial and retail loans. The focus of
this paper will be to describe the investment banking process including the function of portfolio
construction. To better understand the investment banks role it is important to distinguish between
what is known as the primary and secondary ... Show more content on Helpwriting.net ...
The success of these contracts is determined by the prices of other assets such as stocks or bonds.
Options and futures comprise the riskiest of the financial assets but also offer the greatest possible
reward. A portfolio constitutes a collection of investment assets. Investments are divided into broad
asset classes. The most important decision one must make when building a portfolio is asset
allocation. The percentage of each asset class one wants to hold is more important than the
individual securities within each class. One must first decide the percentage of each class to hold.
Individual risk tolerance will play a large role in this decision. Many individuals equate risk with the
likelihood of losing money, the higher the risk the greater the chance of losing money. Investment
professionals use a broader definition of risk. They look at risk as the volatility of an asset, or how
much the return stream goes up and down over a certain time period. Commodities are more volatile
than Stocks. Stocks are more volatile than Bonds. Therefore, Commodities have more risk than
Stocks, and Stocks have more risk than Bonds. An individual's personal risk tolerance will play a
major role when deciding among asset classes. An individual willing to take on a lot of risk with the
hope of a larger return will hold a larger percentage of high risk investments such as options or
futures. A different individual with a lower tolerance for risk will have

Advantages Of Sukuk In Islamic Capital Market
Islamic Capital Market is a major part of the overall Islamic Financial System especially in
providing the component of liquidity to the otherwise illiquid assets. One of the most popular
instruments used today in Islamic Capital Market is Sukuk. The structures of Sukuk based on Ijarah,
Musharakah, Mudharabah and hybrid forms have evolved. Under any circumstances, these
innovations have appeal to many Shari'ah issues and arguments. Therefore, this article aims at
analyzing the challenges of realizing Maqasid al–Shari'ah in the Islamic capital market, focusing on
sukuk instrument. In particular, this study evaluates on the approach of one of the most popular
sukuk structure, namely, sukuk al–Ijarah in the light of the perspective of Maqasid ... Show more
content on Helpwriting.net ...
An accurate analysis and comprehensive of the Shari'ah rulings entails an understanding that
Shari'ah objective at preserving and protecting public interests (maslahah) in all aspects and
segments of life. Many Shari'ah though make known clearly the resolution behind certain Shari'ah
rulings, propose that every ruling in Shari'ah approach with objective, which is to accommodate the
mukallaf (accountable person). For reference, when Quran prescribes Qisas, it speaks of the
rationale of it, that applying retaliation prevents further killing "There is life for you in Qisas" .
Similarly, when Quran prohibits wine it says that wine is the works of devil as it causes quarrel and
instills hatred and enmity among Muslims "The devil only wants to excite hatred and enmity
between you in intoxicants and gambling and hinder you from remembrance of Allah and from
prayer"

Market Timing and Capital Structure for Baker and Wurgler
Abstract
It is well known that firms are more likely to issue equity when their market values are high, relative
to book and past market values, and to repurchase equity when their market values are low. We
document that the resulting effects on capital structure are very persistent. As a consequence, current
capital structure is strongly related to historical market values. The results suggest the theory that
capital structure is the cumulative outcome of past attempts to time the equity market.
Introduction
"Equity market timing" refers to the practice of issuing shares at high prices and repurchasing shares
at low prices. Equity market timing appears to be an important aspect of real corporate financial
policy. In ... Show more content on Helpwriting.net ...
The relevant historical variation in market valuations is measured by the "external finance
weighted–average" market–to–book ratio. This variable takes high values for firms that raised
external finance when the market–to–book ratio was high and vice–versa. The intuitive motivation
for this weighting scheme is that external financing events represent practical opportunities to
change leverage. It therefore gives more weight to valuations that prevailed when significant
external financing decisions were being made, whether those decisions ultimately went toward debt
or equity. This weighted average is better than a set of lagged market–to–book ratios because it
picks out, for each firm, precisely which lags (intervals) are likely to be the most relevant.
Intuitively the weights correspond to times when capital structure was most likely to be changed.
When firms go public, their capital structure reflects a number of factors, including market–to–book,
asset tangibility, size, and research and development intensity. As firms age, the cross–section of
leverage is more and more explained by past financing opportunities, as determined by the market–
to–book ratio, and past opportunities to accumulate retained earnings, as determined by profitability.
Historical within–firm variation in market–to–book, not current cross–firm variation, is more

Nordstrom's Global Capital Market
Global Capital Markets When contemplating expansion and growth, it is imperative to understand
the advantages and disadvantages as they relate to funding. Internal financing, or using profits for
new investments, is advantageous as it is available immediately, there is no associated interest, there
aren't any restrictions imposed by outside parties, and overall, grants flexibility. However, it can be
disadvantageous, as it is not tax–deductible, capital is not increased, and there is more available
capital available on the outside market. In Nordstrom's case, their capital structure has changed with
increased debt taken to finance their assets, evident by their financial leverage of 8.84, 9.03, and
8.30, in 2015,

The Capital Market : An Overview
The capital market is considered as the interface through which entities engage in buying and selling
debt and equity instruments. Debt instruments like bonds, loans etc pay interest to holders, whilst
equity instruments like common stock or preferred stock pay dividends. The capital market directs
the flow of savings and investment between providers of capital such as retail and institutional
investors, and those who need this capital like corporate entities, governments and individuals.
These markets are extremely important for the functioning of an economy since economic activities
are primarily based on availability of capital for generating the needed economic output. The capital
market is classified into two; the primary market where entities make their initial offer directly to
investors and the secondary market where the initial shares issues are subsequently traded between
investors without involving the companies that issued these shares. The stock exchange is
considered to be the underlying institution that performs the functions of the secondary market by
providing investors with an attractive, efficient and a well regulated market. This enables corporate
entities to be able to raise the needed capital and fulfill investment and also meet trading
requirements.
Trading in securities is facilitated by information investors obtain about an entity's performance. An
entity that performs well in its operations by earning consistent profit adds value to its

Factors That Affect Business Such As A Labour Market,...
There are many factors that affect business such as: labour market, capital and target market. Ever
since international trading has become more liberalised and popular, the changes of international
economy has also impacted on development of companies, especially effect of foreign exchange
rate. A foreign exchange rate can be defined as the price of one currency compared to another
currency. This essay will focus on some different issues related to the foreign exchange rate, which
include a tendency of losing the value of currency or inflation risk, the difficulty of making future
plans, facing increasing cost and profit reduction. It will then move on to evaluate the solutions for
these aforementioned problems.
It is logical to assume ... Show more content on Helpwriting.net ...
Relationship between exchange rate and inflation rate is inversely proportional. It is described in a
report of applied mathematical sciences below (Sek, Ooi and Ismail 2012, P. 1577)
Descriptive Statistic – Asian Countries
Pre–IT Country Log Exchange rate, log EX (%) Inflation rate, PI (%) Mean Standard deviation
Mean Standard deviation
Korea 6.6567 0.1389 0.0057 0.0076
Philippines 3.1331 0.4775 0.0082 0.0117
Thailand 3.3268 0.1793 0.0037 0.0048
Post–IT Country Log Exchange rate, log EX (%) Inflation rate, PI (%) Mean Standard deviation
Mean Standard deviation
Korea 7.0380 0.1176 0.0023 0.0040
Philippines 3.9164 0.0881 0.0041 0.0047
Thailand 3.6482 0.1061 0.0022 0.0060
Consequently, using relevant monetary policy is an important role to control influence of exchange
rate on inflation. There are many different monetary policy in each country such as: fix exchange
rate, floating exchange rate. Some countries would choose fix exchange rate policy to reduce
inflation, it means central bank will prevent the home currency supply from increasing too quickly.
In this case, central bank will purchase the supply of own currency from private investors to balance
supply and demand at the fix exchange rate. So domestic currency supply will reduce and inflation
is controlled. Besides, other countries use floating exchange rate or flexible exchange rate to adjust

Capital Market Analysis: a Dicussion on Efficient Market...
Answer to Question 1: Efficient Market Hypothesis was firstly brought forward by E. Fama in
1960s. Its main believing is in that security prices fully reflect all available information in an
efficient market, which allows investors to earn no above average risk–adjusted return (Fama,
1965). Although some technical studies and opportunistic investors have stretched hard in searching
for proofs to challenge the efficient market hypothesis, and to prove above average returns could be
gained by predicting the future price using the existing information, their efforts result only in
finding of the ¡®anomalies¡¯ in the market which are destined to self–destructing in the long run or
being proved worthless taken the transaction cost. Accepting ... Show more content on
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While if everyone wants to do this, in order to buy in December and sell stock in January
successfully, people may probably buy stocks successfully in late December and sell stocks in early
January. Considering the big transaction fee, it is not possible to make excess risk adjusted returns.
Those publications of non–random effects help the market to be more efficient. This can also
explain the Market Crash of October 1987 and the Internet Bubble of the Late 1990s. As people now
all notice that, even if it happens again, it would probably have low effect to the market. The market
becomes more mature and efficient through these two cases. Moreover, there are some cross–
sectional predictable patterns, such as ¡®Value Stocks appear to provide higher rates of return than
stocks with high price–to–earnings ratios¡¯ when accepting CAPM, Malkiel argues that the finding
does not necessarily imply inefficiency of the financial market, it may only indicate failure of the
CAPM to capture all dimensions of risk. Finally, if the market is inefficient, the professional fund
managers should be able to beat the market. However, the fact is that (even using data sets with
some degree of survivorship bias), about 75% of actively managed funds have failed to beat

Capital Markets : Capital Market
Capital market is one of the significant aspects of every financial market. Capital market is a market
for buying and selling equity and debt instruments. Capital markets channel savings and investment
between suppliers of capital such as retail investors and institutional investors, and users of capital
like businesses, government and individuals. Capital markets are vital to the functioning of an
economy, since capital is a critical component for generating economic output. Capital markets
include primary markets, where new stock and bond issues are sold to investors, and secondary
markets, which trade existing securities. Capital markets typically involve issuing instruments such
as stocks and bonds for the medium–term and long–term. In ... Show more content on
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Eugene Fama has defined three levels of market efficiency on the basis of the amount of information
that is built into (or impounded in) market prices. Each information group reflects the extent to
which the efficiency of a market, namely: I. Strong–form efficiency In its strongest form, the EMH
says a market is efficient if all information isrelevant to the value of a share and accurately reflected
in the market price. It is the most satisfying and compelling form of EMH in a theoretical sense, but
it suffers from one big drawback in practice. It is difficult to confirm empirically, as the necessary
research would be unlikely to win the cooperation of the relevant section of the financial
community. II. Semi–strong form efficiency In a slightly less rigorous form, the EMH says a market
is efficient if all relevant publicly available information is quickly reflected in the market price. This
is called the semi–strongform of the EMH. If the strong form is theoretically the most compelling,
then the semi–strong form perhaps appeals most to our common sense. It says that the market will
quickly digest the publication of relevant new information by moving the price to a new equilibrium
level that reflects the change in supply and demand caused by the emergence of that information.
One problem with the semi–strong form lies with the identification of 'relevant publicly available
information'. Neat as the phrase might sound, the

How Technology Has Transformed Global Capital Markets Into...
In The Fourth Paradigm, prominent computer scientists set forward a new data–intensive approach
to scientific inquiry that has emerged from the digital age and illustrate how science must overhaul
its present cyberinfrastructure in order to exploit this revolution. A hurdle in commissioning new
scientific data–extraction tools has been that "unlike the commercial world, most scientific data
doesn't have high enough economic value to fuel more rapid development". No field more explicitly
exemplifies the dichotomy than finance, where information is simply a means to profit. Extracting
actionable information before competitors can be readily monetized through stock trading, and the
pursuit of these informational edge has fueled developments ... Show more content on
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Most trading is no longer done in person, or even by a person. Up from 0% in 1995, more than 70%
of stock transactions in US equity markets are done by autonomous computer–based trading
algorithms [2, 3]. Referred to as high frequency traders (HFT), these consist of machines
programmed by mathematicians that trade stocks with strategies not derived from conventional
investing theory, but by earning fractions of cents at a time identifying random imbalances across
the market many times a second. Despite being an established practice, HFTs are not foolproof and
generally earn money on just over 51% of executed trades [58]. Although such methods may
initially not seem lucrative, enormous volumes of trades HFT's perform make such strategies
consistently profitable in the long run ( law of large numbers) and accumulate earnings of pennies
into substantial amounts [45]. In 2009, despite only accounting for 2% of Wall Street firms, high
frequency traders made estimated aggregate profits of $7.2 billion dollars [4]. The complex
algorithms implemented in HFT's are not necessarily better strategists than humans, but are able to
capitalize on momentary profit opportunities that exist for much less than 650 milliseconds – the
shortest time frame a human being can make an informed decision [5]. As of today, the fastest an
HFT can input, analyze, and execute a trade is 740

Capital Markets And Strategic Issues Essay
Capital Markets and Strategic Issues in Fund Raising A–Answer Role of VCs in the company VC is
a type of private equity also a financing provided by firms to nascent–stage, emerging firms that are
promising, show high growth potential (in terms of number of employees, annual revenue, or both).
VC firms invest in these mentioned companies in exchange of ownership stake. VCs take on the risk
of financing risky start–ups thinking that some of the firms will be successful who they pursue.
Start–ups are usually based on an innovative technology/business model and they are usually from
the high technology industries, such as information technology (IT), social media or biotechnology.
In exchange for high risk that venture capitalists assume by investing in smaller/startup companies,
VCs usually get significant control over company's management decisions, with companies '
ownership and value. Obtaining VC is different from raising a loan. Lenders have a legal right to
interest payment of the principal irrespective of the business success/failure. VC is invested for an
equity stake in the business. The return of the VC as a shareholder depends on business growth
/profit. Return is earned when the venture capitalist "exits". VCs are selective in deciding where to
invest in; as a result, firms are looking for the extremely rare yet sought–after qualities such as
innovative technology, potential for rapid growth, a well–developed business model and an
impressive management team. Of

Margin Loans and It's Impact on the Nigerian Capital...
TITLE PAGE
THE IMPACT OF MARGIN LOANS ON THE NIGERIAN CAPITAL MARKET.
(2004 – 2008)
BY
UWAKWEM, UGOCHUKWU MOSES
REG. NO.: 05262016
A PROJECT SUBMITTED TO THE DEPARTMENT OF
BANKING AND FINANCE,
FACULTY OF MANAGEMENT SCIENCES,
UNIVERSITY OF ABUJA.
IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc)
DEGREE IN BANKING AND FINANCE.
UNIVERSITY OF ABUJA.
JANUARY, 2010.
CERTIFICATION
This project has been fully supervised, read and approved as having satisfied the necessary
conditions for the award of Bachelor of Science Degree in Banking and Finance of the Department
of Banking and Finance, University of Abuja.
–––––––––––––––––––––––––––––––– ... Show more content on Helpwriting.net ...
Data was collected via primary and secondary sources. Descriptive statistical tools for data analysis
i.e. table, histogram and graph were used in analysing data collected. The study confirmed that
margin loans have a positive effect on the stock market and investors during periods of boom and
the opposite during periods of economic downturn and further revealed that investors have little or
no idea of the terms and conditions attached to margin loan contracts.
The study therefore recommends that investors should be properly oriented on the terms and
conditions of a margin loan contract before the extension of such facilities to them and that the CBN
should restructure margin debts/interests and that toxic assets in the market should be bought by the
FGN in order to restore sanity and stability in the Nigerian Capital Market.

TABLE OF CONTENT
Title Page................................................................................................ i
Certification............................................................................................ ii

The Impact Of Capital Markets
Capital Markets applies many IT practices to benefit the day to day activity and attempt to combat
the issues that arise regarding their immense volume of work and data, along with their source
constraint. For starters, they implement The OutSystems Platform, a custom PaaS, to develop their
enterprise web and mobile applications. This helps them streamline the process of developing
applications and mobile content while easily editing and altering these applications as well. On top
of this, Capital Markets utilizes data marts to orient their data to specific business lines and teams
given their overwhelming amount of data for numerous different clients. This makes the data more
accessible and consolidated, thus allowing for more time to be ... Show more content on
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Mr. Spain and his team also have communicated with the rest of Regions Bank that as more secure
hurricane averse building structures or modifications come out, they will improve their facilities to
ensure their safety and the safety of their company the next time a hurricanes hits one of their major
locations. The importance of having these plans in place for a company as big as Regions Bank
already is the mitigation of negative publicity for their firm. Their business continuity plan and
disaster recovery make certain that Regions Bank and all of its other entities will be ready to deal
with disasters and accidents easily and effectively. Just as mitigating risks can affect the IT practices
of a company, the place where a business stores its data holds major significance in an era in which
the majority of work is done online. A business has two main options: it can store its data in a data
center or in a cloud. A data center is an onsite hardware that stores a business' information on a local
network. On the other hand, a cloud is an off–site location where a service provider owns and
manages infrastructure with cloud users, accessing slices of shared hardware resources via the
Internet . Each of these options serve different purposes and benefit or disadvantage a company in
different ways. For example, a data center is more suitable for companies that run many
applications; however, it has a limited

Market Theory, Capital Asset Pricing Model
Capital market has deep developed this century, more and more investors go into this market. Which
security is better? How to invest? Investors need numeric index to make decision. There are some
theories to help investors: portfolio theory, capital asset pricing model (CAPM), option pricing
model and so on. This essay will explain portfolio theory firstly. Secondly, this essay will explain
CAPM and discuss the importance of the assumptions of CAPM. Thirdly, this essay will explain
arbitrage pricing theory (APT) and factors model. Finally, this essay will compare CAPM with APT
and factors model. Harry Markowitz put forward portfolio theory in 1952; portfolio theory is that
using portfolio diversification to eliminate non–systematic risk; portfolio theory uses mathematical
methods σanalysis the relationship between risk (variance) and expect return (mean) (Brealey,
Myers and Allen,2014). Mean–variance criterion is very important for Portfolio theory. The mean is
the expect return of portfolio, the formula of expect return for one asset is: E (r) = ∑_(all states)▒
〖r×y(states)〗 r is return; y is the probability of return. Formula of expect return for portfolio is:
E(r) =w_1*E (r_1) + w_2*E (r_2) + ... + w_n*E (r_n) w is the weight of an asset in the portfolio.
The variance represents risk of portfolio, and the formula of portfolio's variance is: σ^2=E [〖(r–
¯r)〗^2] = ∑_(i,j=1)^n▒〖w_1 w_2 Cov(r_1,r_2)〗 Cov is the covariance. If there are just two
assets, this

Market Analysis : Capital Market Essay
1. Introduction:
The topic is about the capital market. Capital Market mainly refers to the Stock and Share market of
the country. When banking system cannot totally meet up the need for funds to the market economy,
capital market stands up to supplement it. Companies and the government can raise funds for long–
term investments via the capital market. The capital market includes the stock market, the bond
market, and the primary market. A strong and well–structured secondary market is the hub of capital
market, which bears paramount importance in the economic development of a country. The
secondary market, also known as the aftermarket, is the financial market where previously issued
securities and financial instruments such as stocks, bonds, options, and futures are bought and sold.
The growth and development of stock market in a market economy largely depends on stable
political environment, investment sensitive tax and regulatory environment, reliable flow of
information, and liquidly.
Capital market is most important sectors where we invest our money. Business students of course
want to invest in share–market because s/he knows well about share–market. So this research topic
is related with students' future career.
2. Statement of the problem:
i) The research problem is: It's about the capital market. In capital market we can see that the price
of the shares fluctuates. In all capital market price goes up and down but in our country it is highly
fluctuate. ii) The

Introduction to Debt Capital Markets
BUILDING TOMORROW™
Introduction to Debt Capital Markets
Craig Rydqvist
rbs.com/gbm
Introduction
My background
Finance sector focussed education and experience but not 'traditional' IB route Education
First degree – BSc in Management Studies; Postgraduate – MSc Masters in Finance (part–time).
Work Experience
KPMG – Financial Sector Audit and Consulting (ACA); Barclays Capital – Finance followed by
Trading and Structuring; RBS – Finance followed by DCM Origination.
Current Role
Director – Conduit Origination; Sell side origination, execution and structuring; Buy side
transaction analysis as RBS is ultimate risk taker; Line Manager for Global Banking Analyst
Programme.
Mature ... Show more content on Helpwriting.net ...
(EURm) (%) 4,161 35 11.11 3,518 23 9.40 2,922 18 7.80 2,909 20 7.77 1,820 16 4.86 37,441 88
100 2013 Target Position: Top 5

Amount (EURm) 2,398 1,360 1,335 1,300 1,095
15,638
No. 13 9 8 9 6
37
Share (%) 15.34 8.70 8.54 8.31 7.00
100
● ● ● ● ●
Source: Dealogic Analytics
2013 Target Position: Top 5
RBS is a market leader in all the major DCM products
RBS00000
8
Major differences between DCM and ....
Corporate Finance
Corporate Finance has lower execution volume As a result lots of time spent pitching strategic ideas
DCM is more transaction focussed DCM bankers have more respect for your private life
Markets Markets covers, sales, trading, research and other areas so it's a little hard to generalise
Markets work more driven by market psychology and sort–term trends and relative value DCM
generally more macro–economic focus so interaction is with the client C–suite
Equity Capital Markets DCM bankers are pessimists, ECM bankers are optimists DCM involves
more 'definite' maths – bond maths is

The Russian Venture Capital Market
An entrepreneur looking to fund his/her startup in Russia can do so in many different ways,
including but not limited to angel investment, venture capital investment, crowdfunding and
government funding. This essay will explain how each of the above mentioned options works and
which of the options is more beneficial for different types of startups, especially in the condition of
current adverse macroeconomic condition. It is notable that even though getting a funding through
all of this ways is possible, the one that guarantees the most stability and support is getting funding
through the government. Unfortunately, due to unstable financial situation venture capital funds are
not ready to invest in many businesses, and at the same time ... Show more content on
Helpwriting.net ...
Unfortunately, very few of them had survived through the default of 1998, and in 1999 the
government had passed a bill that developed a strategy for funding high–risk projects. The result of
this bill was a Venture Investment Fund that formed the structure behind the Russian start up market
and started annual venture fairs, which provided the first ever networking opportunities between the
entrepreneurs and investors in the country. The most promising sector was proven to be IT, with
such companies as Yandex (NASDAQ: YNDX), Rambler, Ozon, Mail Group (LSE: MAIL), and
others being the first recipients of these investments.
Private Equity and Venture Funds
Needless to say, that the adverse macroeconomic situation of Russia is being reflected in the venture
market. First decreases in volumes began all the way in 2013, with increased volatility on the
currency market being the major driver behind all the main key performance indicators. As noted by
Sai Agnihotram, Junior Risk Officer at a Germany–based microcredit startup, Kreditech "Entering
2–3 projects is very risky and way too little for diversification. With associated risks, investors have
to come in only big. This is why, many of them are hesitant to enter the market at all." Within the
first 3 quarters of 2015, the overall number of investments decreased to 155, which is 66% of the
investments done in the same period of 2014. The

Effects On The Capital Market Union
Effects On the Capital Market Union Due to Brexit: Positive or Negative?
Fluctuations in the economy are normal anywhere in the world and have gone through multiple
series of highs and lows ever since scholars began the study of economics. One of the most well–
known economic booms occurred when the Industrial Revolution began in the United Kingdom.
Coincidentally, the recently announcement of the exit of United Kingdom (UK) from the European
Union (EU) caused a great deal of uncertainty among investors across the world and this affected
the economy globally. It is not surprising to see that events happening in Europe can greatly affect
the stock markets around the world. The exit is confirmed after a referendum was held and passed
nationally where the count of votes to exit was higher than to remain in the European Union. An exit
from the EU is a first of its kind and will create a high degree of fluctuations in the economy
especially during the process of withdrawal. This will nonetheless disrupt the European
Commission's Capital Markets Union (CMU) plan which is what this paper is about. The European
Commissions introduced CMU to integrate capitals throughout the EU allowing the European
Commission to mobilize funds in attempt to build a more efficient Single Market. UK's exit will
likely have negative impacts on the CMU's plan since there will have to be restructuring of the plan
depending on the negotiations of exit between UK and the EU. Until we know where the UK and

Raising Capital in the Financial Markets
CHAPTER 14
Raising Capital in the Financial Markets
CHAPTER ORIENTATION
This chapter considers the market environment in which long–term capital is raised. The underlying
rationale for the existence of security markets is presented, investment banking services and
procedures are detailed, private placements are discussed, and security market regulation is
reviewed.
CHAPTER OUTLINE
I. The mix of corporate securities sold in the capital market.
A. When corporations raise cash in the capital market, what type of financing vehicle is most
favored? The answer to this question is corporate bonds. The corporate debt markets clearly
dominate the corporate equity markets when new (external) funds are being raised.
B. From our ... Show more content on Helpwriting.net ...
2. The capital market consists of the institutions and procedures that provide for transactions in
long–term financial instruments. This market encompasses those securities that have maturity
periods extending beyond 1 year.
D. Organized security exchanges can be distinguished from over–the–counter markets.
1. Organized security exchanges are tangible entities whose activities are governed by a set of
bylaws. Security exchanges physically occupy space and financial instruments are traded on such
premises.
a. Major stock exchanges must comply with a strict set of reporting requirements established by the
Securities and Exchange Commission (SEC). These exchanges are said to be registered.
b. Organized security exchanges provide several benefits to both corporations and investors. They
(l) provide a continuous market, (2) establish and publicize fair security prices, and (3) help
businesses raise new financial capital.
c. A corporation must take steps to have its securities listed on an exchange in order to directly
receive the benefits noted above. Listing criteria differ from exchange to exchange.
2. Over–the–counter markets include all security markets except the organized exchanges. The
money market is a prominent example. Most corporate bonds are traded over–the–counter.
a. NASDAQ, a telecommunication system providing an information link among brokers and dealers
in the OTC markets, accounted for 43% of the

Finance: Weighted Average Cost of Capital and Market Risk...
Cost of Capital questions and practice problems
Questions
1. What does the WACC measure?
2. Which is easier to calculate directly, the expected rate of return on the assets of a firm or the
expected rate of return on the firm's debt and equity? Assume you are an outsider to the firm.
3. Why are market–based weights important?
4. Why is the coupon rate of existing debt irrelevant for finding the cost of debt capital?
5. Under what assumptions can the WACC be used to value a project?
6. How should you value a project in a line of business with risk that is different than the average
risk of your firm's projects?
7. Maltese Falcone, has not checked its weighted average cost of capital for ... Show more content
on Helpwriting.net ...
If Dot.com's marginal tax rate is 38%, what is its after–tax cost of debt?
7. Reactive Industries has a market value of debt of $20 million, with a rate of return of 6%, a
market value of preferred stock of $10 million, with a rate of return of 8% and a market value of
common stock of $50 million, with a rate of return of 12%. Its tax marginal tax rate is 35%. What is
its WACC?
8. The common stock of BCCI has a beta of 0.90. The T–bill rate is 4% and the market risk
premium is estimated at 8%. BCCI's capital structure is 30% debt, having a 5% YTM, and 70%
equity. What is BCCI's cost of equity capital? It WACC? BCCI pays tax at 40%.
9. RiverRocks is considering a project with the following projected free cash flows:
|0 |1 |2 |3 |4 |
|–50 |10 |20 |20 |15 |

The firm believes that, given the risk of this project, the WACC method is the appropriate approach
to valuing the project. RiverRock's WACC is 12%. Should it take on this project? Why or why not?
10. RiverRocks (whose WACC is 12%) is considering an acquisition of Raft Adventures (whose
WACC is 15%). What is the appropriate

Capital Market And Accounting Information
Capital Market and Accounting Information
Submitted to: Mr. Syed Abdulla Al Mamun, Ph.D. Assistant Professor North South University
Introduction
Today we take the capital market very much for granted. The creation of an economy in which the
limited liability companies could easily be formed and their shares sold and transferred between
investors dates from the industrial revolution of Great Britain. The concept of shares being
transferable was a brilliant idea. It enables investors to invest in a business for just as long as they
wish. When they wish to end their interest, they are able to sell their shares without harming the
company whatsoever. An open and free market allows them to sell shares easily. From the
company's point of view, it has a long term capital in the form of shares for as long as it wishes.
Also, it is an easy mechanism through which the company can raise new capital.
The relationship between published financial or accounting information and capital market is a
complex one. The capital market is affected by analyst's forecasts and expectations putting pressure
on companies to adjust their reported earning numbers. Share prices are affected by the way
corporate profits and balance sheet data

Artificial Venture Capital ( Vc ) Market And...
Artificial Venture Capital (VC) Market and Overregulation as Limitation of the Policy
7. (U) In addition to the limitations of the government–led "top–down" approaches to building
startup ecosystem, unwise policy measures to cultivate a good venture capital (VC) investment
environment is another limitation of the Creative Economy policy that must be addressed. In a 2014
research paper published in the Korean Journal of Financial Studies, Professor Song Chi–seung of
Wonkwang University points out, while the government–led venture capital investments did play a
considerable role in cultivating the VC investment environment in the ROK despite the global
downturn of VC funds after the 2008 Financial Crisis, they now act as an impediment ... Show more
The strict regulations for foreign VCs such as a minimum required investment of USD 1 million and
the minimum number of employees to hire are the fixed costs to the foreign VCs' investment in
Korean startups and SMEs, he said. Mr. Lim contended that venture capital investment regulations
must be eased not only to attract foreign venture capitalists but also to provide startups and VCs a
more convenient platform for exits through initial public offerings (IPOs) or merge and acquisitions
(M&As). Furthermore, Mr. Lim observed that excessive regulations in other areas also prevent a
robust growth of startup ecosystems. Specifically, the government's positive–list approach to
regulations preventing new services such as peer–to–peer (P2P) lending and Uber must be changed
into a negative–list approach.
Controversial Roles of Chaebols in Building the ROK's Startup Ecosystem
9. (U) Above all, the strongest criticism against the Park administration's Creative Economy policy
is the CCEIs' dependence on chaebols for incubating startups and SMEs. The structure of CCEIs
under which startups and SMEs must rely on the conglomerates for purchase of technologies, equity
investment and marketing has drawn criticisms from both academia and political circles. The critics
argue that the CCEIs have made startups and SMEs vulnerable to the conglomerates' stealing of
their intellectual property (IP) and forced them

Capital Market Imperfections in Emerging Economies
Capital market imperfection generally refers the capital available at below–market rates for a certain
time period and this result in creating disequilibrium in the capital market. Market imperfections in
emerging economies such as China may be transformed into ownership advantages (Buckley, 2004)
and this may be emerged from a number of interrelated imperfections listed below: 1) State–owned
enterprises (SOEs) may have capital possibly in forms of soft budget constraints which made
available to them at below the market rates (Warner et al., 2004) 2) Banking systems are inefficient
which it allows to make soft loans to potential outward investors (Warner et al., 2004; Antkiewicz
and Whalley, 2006). 3) Many Chinese conglomerate firms may operate an inefficient internal capital
market and effectively subsidize FDI (Liu, 2005). 4) Family owned firms tend to have easier access
to cheap capitals through family members (Child and Pleister, 2003; Erdener and Shapiro, 2005)
These imperfections in the capital market may all exist in China. According to Tong (2002), soft
budget constraint is regarded as a common phenomenon in socialist economy. It is generally
resulted from inefficient operations. Inefficient Chinese firms survive in general and they contribute
the soft budget constraints promoted by local government and party officials (Lardy, 1998). Chinese
enterprises make acquisitions to enter and penetrate a host economy by using state–sponsored soft
budget constraints (Warner

Compare and Contrast Capital Market
Contrast to Capital market research and Behaviour research
Positive theories explain and predict the behaviour of users of accounting information: i)Reactions
of investors to accounting information ii)Association between accounting numbers and share prices
Capital market research and Behaviour research both positive theories.
Research question: Capital market research investigates the impact of accounting information
(especially earnings) on share prices. It is concerns with investor reactions to accounting
information. Behaviour research explains how to use and process the accounting information.
Objective: The main objective of capital market research is to examine relationship between
accounting information and share prices. Behaviour ... Show more content on Helpwriting.net ...
ii) Opportunistic perspective–three hypotheses, to increase managerial compensation: Bonus plan
hypothesis: Managers of firms with bonus plans are more likely to use accounting methods that
increase current period reported income;
Debt hypothesis: The higher the firm's debt/equity ratio, the more likely managers use accounting
methods that increase income;
Political cost hypothesis: Large firms rather than small firms are more likely to use accounting
choices that reduce reported profits.
Based on 'scientific' research. Large samples, statistics, hypothesis testing; aim = universal truth
claims.
Rational utility maximising individuals.
Makes universal claims – ignores social context
Focuses on relationships between various individuals and how accounting is used to assist in the
functioning of these relationships.
Origins of PAT – Agency Theory: i) Explains why the selection of particular accounting methods
might matter; ii) Focus on the relationships between principals and agents.
2. Criticisms of PAT
i) Only addresses relationship between managers and financial stakeholders (shareholders &
debtholders) ii)Non–financial stakeholders are excluded as users of accounting info iii)Problem with
rationality and utility maximisation
PAT is not value–free as it asserts: Based on normative explanations of human behaviour –managers
are rational,

Effects of Finanacial Crises on Nigerian Capital Market
INTRODUCTION
With its roots in banking, the sub–prime mortgage crisis that commenced in the United States in
2007 soon resonated in other sectors of its financial system, and the economy, at large. It spread
quickly to the developed economies in Europe, including the United Kingdom, and Asia –with Japan
becoming well affected. The emerging economies were not isolated. A transmission channel of the
global financial crisis, which has been referred to as the "Globalised Synchronized Slowdown" is
the stock market SERE–EJEMBI, (2008). Around the world stock market indicators started falling.
The capital market, vis–à–vis the stock market, is a channel through which national economies
receive foreign capital flows that make their tendency ... Show more content on Helpwriting.net ...
5 in ESCWA (2009)). In an attempt to curb falling prices, the Organization of Petroleum Exporting
Countries (OPEC) introduced a series of cuts in output. At the time of writing, oil prices have begun
to stabilize at levels ranging in the mid US$ 40 per barrel and also there was withdrawal of
investment from foreign investors or huge capital outflow
In Nigeria – Africa 's largest exporter of crude oil which amounts to 80 percent of its earnings, the
impact of the credit crunch has been enormous, the 3.1–trillion–naira–budget is in deficit. illiquidity
and Credit crunch leading to confidence crisis, weak consumer demand, Sub–prime crisis of 2007
and breakdown of confidence in the banking system, De–leveraging and banks inability to improve
capital adequacy, Possible protracted recession in the US and Europe with upturn expected perhaps
in 2010 and 2011, Declining real output growth–slowed economic growth (threat of global
recession), Weakened financial systems–takeovers and bankruptcy, Loss of jobs, Loss of confidence
in financial markets– leading to inability to carry out their intermediation role in the economy, Stock
Market Crashes omyiuke (2010)
OBJECTIVE OF STUDY
The main objective of this paper is to examine the impact of global financial crises on the Nigerian
capital market, other specific objectives include; * To evaluate the

Capital Market Research : How Disclosures Of Particular...
This essay aims to further identify and expatiate my knowledge on capital market research which
investigates how disclosures of particular information influences aggregate trading activities taken
by individuals participating within capital markets (Deegan ,2011). Through this module my
understanding in capital market research that looks at the information content of accounting
disclosures and capital market research that uses share price data as a benchmark for evaluating
accounting disclosures has evolved. In this area of research, markets are deemed efficient and this
theory will be explored further. The capital market is considered to be highly competitive, and as a
result, newly released public information is expected to be quickly impounded into share prices.
Following Fama's (1970) landmark research papers, which explained the principals of the efficient
market hypothesis, capital market efficiency has been a pre–eminent and ongoing research topic.
Capital market research 'explores the role of accounting and other financial information in equity
markets.'The assumptions of market efficiency are central to capital market research. Market
efficiency is considered important because if information is not assimilated into stock market rapidly
of if new information appears in an anticipated manner, individuals may exploit this information.'A
market in which prices always fully reflect all available information is called efficient'
(Fama,1970:383). Markets are not

Impact Of Capital Market On Economic Growth
The Capital market in any country is one of the major pillars of long–term economic growth and
development. The market serves a broad range of clientele, including different levels of government,
corporate bodies and individuals within and outside the country. Capital formation entails
accumulated savings out of the current incomes of either organization or individual. It is investment
in fixed assets which in part is financed with monies raised through the capital market (Al–Faki,
2006). The Capital market has been one of the major means through which foreign funds are
injected into most economies and the tendency towards a global economy is more visible there than
anywhere else. It is therefore, quite valid to state that the growth of the capital market has become
one of the barometers for measuring the overall economic growth of a nation (Emenuga, 1998).
The theoretical framework on the effects of capital market on economic growth dates back to the
work of Schumpeter, (1911) which explained that a well developed financial system can facilitate
technological innovation and economic growth through the provision of financial services and
resources to investors. The above argument of Schumpeter, (1911) was later advanced as the
McKinnon–Shaw, (1973) hypothesis, which is a policy analysis tool for developing countries with
strong recommendation and high priority on the efficiency of financial systems in facilitating capital
accumulation and financial intermediation.
The above

Capital Market Is The Lifeblood Of Business And Industry
1.0 Introduction
Capital is the lifeblood of business and industry and capital market is the main source for raising
capital. It provides long–term fund for industries and creates investment scope for the mass. Capital
market plays a vital role in industrial, and thus overall economic, development of a country.
Bangladesh stock market seems to be extremely volatile; the price fluctuations of this market are so
high. As a result, confidence of investors in the market place fell drastically during the two bubbles–
burst episodes. Market insiders said that this lack of confidence following the ongoing liquidity
crisis in the market is due to lower participation of investors. This upward and downward swing is a
characteristic feature of the market and is termed as stock market volatility.
The year 2010 was noticed as the abnormal bullish trend with all the barometers touched the
historical height, consequences has been happened in year 2011 as all the barometers gone to the
bearish condition. As a result most of the individual investors who are the middle class earning
investors lost their valuable money.
Most of the time, the collapse is attributed by the negative attitude of investors, liquidity crisis,
insider trading, placement shares, stock split, omnibus account, strong manipulation and money
whitening. Hence general investors have lost confidence on the capital market an they are the
victims. It is true that the market does not move on its own accord, there are forces

Example Of Imperfect Capital Market
Article 1
Transaction cost in a model of capital market equilibrium
By author –JORAM MAYSHAR
Thesis Statement
In this paper author analyse Imperfect capital market in which cost is included in trading of assets ,
this market is exmine through simple mean–variance model. Investor who partially diversify their
portfolios by incurring transaction cost, how they can imply equilibrium asset prices substantially
which is different from the sharpe– Lintner prices. This paper also show how market improve by
reducing trading cost due to increase in quantity of assets held by each investor, which reduce
equilibrium risk, and active investor also increase.
Objective
The main purpose of this paper is to analyse a simple model of an imperfect market ... Show more
M. Elegido
Source: Journal of Business Ethics, Vol. 14, No. 5 (May, 1995), pp. 411–416 Thesis Statement
This article describe how ones conception of property rights influence our concept of ownership in
many way and how different people think differently on property right. In this paper author
demonstrate two argument against this concept of property right. In first of his argument he shows
that there are various conceptions of property rights ,and show how in different societies there are
different model of ownership exist.
Its also claims that there are decisive grounds to decline to allow that property owners have a moral
right to use absolute control over their property, and that ownership hold not only rights but also
duties ,responsibility and limits.
Objective
The main objective of this paper is to articulate an argument which shows some essential
weaknesses in this conception. While considerations of space and audience preclude doing this in a
fully rigorous way. This paper also try to set out essential steps of property right conception.
To show different people have different conception of property right and how its differ from society
to

Term Investment Tactics That A Capital Market Analyst
Everything comes at an expense. The world revolves upon an axis of currency. Although this has an
immoral implication, it contributes to capital market analysts having a job. They are responsible for
abetting clients, or investors, distinguish when to purchase/sell their shares in the stock market.
Besides aiding them with stocks, a capital market analyst yields several presentations and
demonstrates they have an established affiliation with the bank. Before helping the investors identify
when to purchase and sell, they must assist them decide on what to capitalize in. There happen to be
various different long–term investment tactics that a capital market analyst may practice. One
strategy they may exercise is investing in a stock and industry that their client comprehends. If the
client has no knowledge in the industry, it remains dangerous since they are not informed on what is
happening within the field. Another approach is to begin investing as early as possible; this allows
the money to have additional time to multiply. The other tactic is to diversify the investments. This
safeguards investors if one industry or the stock crashes; they ensure to not completely lose all of
the money they have invested. As of now, pharmaceuticals and 3D printing happen to be two
industries that remain appropriate for a long–term investment. There are several explanations why
the pharmaceutical industry is a popular long investment industry amid capital market analysts.

Role of Qib in Indian Capital Markets
ROLE OF QIB (QUALIFIED INSTITUTIONAL BUYER) IN THE INDIAN CAPITAL MARKET
FOR THE LAST 6 YEARS A] Who are the Qualified Institutional Buyers? Qualified Institutional
Buyers (QIBs), as defined under sub–clause (v) of clause 2.2.2B of the SEBI (DIP) Guidelines, can
be one of the following: 1. A Public Financial Institution as defined in Section 4–A of the
Companies Act. 2. A Bank 3. FII (Foreign Institutional Investors) that are registered with SEBI 4.
Development Financial Institutional, both multilateral and bilateral 5. VCF (Venture Capital Funds)
registered with SEBI 6. SIDC (State Industrial Development Corporations) 7. Insurance Companies
registered with the IRDA (Insurance Regulatory and Development Authority) 8. Provident and ...
Show more content on Helpwriting.net ...
Also, the retail investors generally look at the subscription levels of the QIB portion of the offer to
get an idea about the image of the company in the market. The SEBI guidelines amendment in
September 2005 allowed at least 5% of the QIB's reserved portion to go to Mutual Funds which
gave an opportunity for the retail investor to get a bigger share of the pie through the Mutual Funds.
THE STATE OF THE QIP (QUALIFIED INSTITUTIONAL PLACEMENT) SINCE IT'S
INCEPTION IN 2006 QIPs are a quick and cost effective method of raising funds by way of private
placement of securities or convertible bonds with QIBs. Before the introduction of Chapter XIII –A
in the SEBI DIP Guidelines, an Indian listed company intending to raise further capital from the
public markets in India had the option of doing so by offering securities through a follow–on public
offering or preferential allotments. In May, 2006, SEBI came out with it's guidelines for raising
funds through the QIP route. Since then, a lot many companies have gone this route. The intention
of SEBI behind allowing QIP Scheme, is to promote the domestic private placement which is
generally considered to have two prime advantages over FCCBs (Foreign Currency Convertible
Bonds) and GDRs (Global Depository Receipts), i.e. keeping liquidity in the same market and faster
way to get approvals. Through

Capital Markets and Institutions
Australian School of Business School of Banking and Finance
FINS1612 CAPITAL MARKETS AND INSTITUTIONS
COURSE OUTLINE SEMESTER ONE 2011
FINS1612 – Capital Markets and Institutions
Page– 1
TABLE OF CONTENTS
1. STAFF CONTACT DETAILS 2. COURSE DETAILS 2.1 Teaching Times and Locations 2.2
Units of Credit 2.3 Summary of Course 2.4 Course Aims and Relationship to Other Courses 2.5
Student Learning Outcomes 3. LEARNING AND TEACHING ACTIVITIES 3.1 Approach to
Learning and Teaching in the Course 3.2 Learning Activities and Teaching Strategies 4.
ASSESSMENT 4.1 Formal Requirements 4.2 Assessment Details 5. ACADEMIC HONESTY AND
PLAGIARISM 6. COURSE RESOURCES 7. COURSE EVALUATION AND DEVELOPMENT 8.
STUDENT RESPONSIBILITIES AND CONDUCT ... Show more content on Helpwriting.net ...
Describe the types of equity securities that companies can use to raise equity capital and how these
securities can be listed and traded on the Australian Stock Exchange. Understand different ways in
which a company's valuation, and thus its share price, is determined and make forecasts of a
company's future share price.
L02:
L03:
FINS1612 – Capital Markets and Institutions
Page– 4
L04:
Describe the characteristics of different types of debt securities and be able to price them. Describe
different theories of how interest rates are determined and explain the relationship between the term

to maturity, risk, and interest rates. Understand the mechanics and conventions of the foreign
exchange market and the motivation of different participants in trading foreign currencies. This
involves:  Reading, interpreting and transposing FX quotations.  Calculating cross–rates. 
Identifying the factors that determine the value of a currency Understand the characteristics of
derivatives instruments (futures and options contracts), the different motivations for their use and
how they are traded. Specifically you should  Recognise which types of futures / options contracts
to use to hedge various risk exposures  Appreciate the various risks involved in trading derivative
instruments  Describe the factors that determine the pricing of derivative instruments. Discuss and
write about the links between the theory of financial markets and

Impact of Social Network in Capital Markets
Acknowledgement
Before going to the detail about our report, we would like to pay our gratitude to the Almighty Allah
for helping us to prepare this report. We would also like to thank our honorable faculty in charge,
Sayba Kamal Athoi (SBK) for giving us such a nice assignment to implement our knowledge in the
context of the real world.
Abstract
There has been an increasing use of the social networking sites to aid in the decision making process
for making investments in the capital markets around the world by both individuals and
organizations. Social networks enable a faster and easier access to information regarding capital
markets to all. According to various researches, data from the social networking sites can be used to
create ... Show more content on Helpwriting.net ...
The research by Indiana University Professor Johan Bollen shows that their algorithms are capable
of predicting the direction of DJIA with 87 percent accuracy, up to four days before the actual move
happens in the market. Here is an example of their findings.
In the graph the blue line represents the Dow Jones Industrial Average and the red line represents the
predicted model of stock prices based on twitter updates. The trends are separated for better viewing
in the middle and bottom graphs. From the graph we can see that when delayed by three days, the
trends in predicted model of stock prices overlaps meaningfully with the Dow (top). However,
events that the public cannot predict, like the bank bailout pointed to in the top, can disrupt the
accuracy of the predicted model of stock prices. b) Another research study says it has found a
correlation between the social media popularity of key brands and their share price, and suggests
that it might be used as a lead indicator to determine the trend of the stock price as well. The author
of the study, Arthur O'Connor, a post–doctoral student at Pace University said that he was able to
reliably predict the daily stock prices of three major stocks over a 10–month period. He also made
three predictions, claiming that Wal–Mart, Viacom and Sony each had seen "major recent growth in
key social media profiles," implying that the share prices of those stocks could

Bangladesh Capital Market Problems & Prospects
Bangladesh Capital Market Problems & Prospects
University of Dhaka Department of Finance
A Report on Bangladesh Capital Market Problems & Prospects
Course name: Financial Markets and Institutions
Course code: F–304
Prepared For:
Dr. A. A. Mahboob Uddin Chowdhury, Ph.D
Professor & Chairman
Department of Finance
University of Dhaka
Prepared By:
Group No. 7 SL NO: | NAME | ID NO: | 01 | Md. Azhar Hossain | 16–053 | 02 | Md.Omar Faruk
Bhuiyan | 16–085 | 03 | Mohammad Asrarul Haque | 16–111 | 04 | Sayma Sadia | 16–113 | 05 | Md.
Mofijur Rahman | 16–133 | 06 | Fahmida Hoque | 16–145 |
Date of Submission: 08–04–2012
Letter of Transmission
April 08, 2012
Dr. A. A. Mahboob Uddin ... Show more content on Helpwriting.net ...
The problems of our stock market are given priority in our report. We tried to mention possible way
outs to overcome the crisis. The reader will find the basic understanding about a stock market fist,
then about the stock markets and the regulatory bodies, then some of the problems and potentials in
the later part of the report. This report is the outcome of our knowledge about the financial markets
and institutions what we have got in your course, and the hard work of our group members given
this reports completeness. Capital market works like an engine that runs the economy of our
country. It is the most lucrative investment opportunity for millions of investors. The capital gain
from secondary market makes it more attractive to the potential investors. We hope that our report

meet the need of understanding the present condition and taking steps necessary to overcome the
market collapse.
Chapter–Two
Capital Market Concepts
Capital Market Concepts
Stock:
Stocks are the smallest part of ownership of a corporation. It represents partial ownership. For
example you have a shop worth of Tk.10000. Now if you divide the ownership of the shop in 100
parts then every part will be worth of 100tk. Now each of the part is called a share/stock. Now if you
buy 10 Part/share, from that 100 part then you are partially an owner of the shop/firm/company.
Stock exchange:
An organized and somewhat regulated secondary market, where trading in

Capital Cycle : A Competitive Market
Assignment 1 Introduction The healthcare industry is a highly competitive market, which continues
to change therefore, it is important that executives have the ability to keep up with changes and/or
any new demands. In addition, with the current economy the access to capital is limited, stakes have
increased, and strategy is significantly important nowadays (Sussman, Grube, & Samaris, 2009). As
a result, it is important that healthcare executives have the ability to reassess the organization 's
capital capacity, improve any operating performance issues, and develop strong strategic plans
(Sussman et al, 2009). Therefore, the capital cycle is a circular path that helps manage the
organization 's capital flow from the planning stage to ... Show more content on Helpwriting.net ...
620). After, the performance analysis is conducted the executives will determine if any changes need
to be made and the capital cycle will start at the planning process again. Therefore, an individual can
picture the capital cycle as a continuous circle. The capital cycle allows the executives the ability to
budget capital spending. Consequently, "capital budgeting is the process of analyzing propose
capital expenditures – investments in plant, equipment, new products, and so on – to determine
whether the investment will generate a large enough return on investment (ROI) over time to
contribute to the organization 's ROI objective" (Marshall et al, 2011, p. 621). Therefore, it is
important for executives to follow all the steps within the capital cycle. After all, if management
cannot make the appropriate capital decisions then the organization will not survive long–term.
Health Care Executives & the Capital Cycle It is important for any organization to have the ability
to make proper capital investment decisions. The stakes seem to be of higher importance for health
care organizations since the health care industry is highly competitive. In addition, an organization
needs to make efficient decisions that will increase its capital capacity for long–term success
(Sussman et al, 2009). A common definition of capital capacity is any "net available dollars for
strategic

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