...Projecte Norma Civil http://civil.udg.es/normacivil/ Projecte realitzat per l’Àrea de Dret Civil de la Universitat de Girona amb el suport del Departament de Justícia de la Generalitat de Catalunya Llei 5/2006, de 10 de maig, del llibre cinquè del Codi civil de Catalunya, relatiu als drets reals (DOGC núm. 4640, 24-05-2006, p. 23167-23202; correció d’errades DOGC núm. 4655, 15-06-2006, p. 26128). El President de la Generalitat de Catalunya Sia notori a tots els ciutadans que el Parlament de Catalunya ha aprovat i jo, en nom del Rei i d'acord amb el que estableix l'article 33.2 de l'Estatut d'autonomia de Catalunya, promulgo la següent LLEI Preàmbul I Finalitat El dret civil té un paper clau en la configuració de Catalunya com a societat moderna perquè permet d'adaptar el marc jurídic a la realitat d'avui i satisfer les necessitats quotidianes dels ciutadans, que, d'acord amb aquell, poden exercir plenament la llibertat en l'àmbit privat. És per això que té, a més, una significació especial com a element d'identificació nacional i com a instrument de cohesió social. La recuperació de les institucions polítiques operada l'any 1980 per l'Estatut d'autonomia ha permès que, en un quart de segle, el Parlament de Catalunya hagi acomplert una tasca legislativa intensa, en un procés de modernització del dret civil tradicional que ha estat àmpliament participatiu, progressiu i constant, cosa que l'ha dotat de la solidesa que calia per a superar les interpretacions restrictives de les competències...
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...FIN 4414 Financial Management Course Syllabus Spring 2010 Term INSTRUCTOR: Dr. T. Craig Tapley Graham-Buffett Master Lecturer of Finance Section: Section: Room: 2109 – Monday and Wednesday, Periods 3-4 (9:35 a.m. – 11:30 a.m.) 7111 – Monday and Wednesday, Periods 5-6 (11:45 a.m. – 1:40 p.m.) 112 Matherly Hall Office Hours: Wednesday (2:00 p.m. - 3:00 p.m.) Thursday (1:00 p.m. - 2:30 p.m.) CONTACT INFORMATION: Office: Phone: Fax: E-Mail: 329 David Stuzin Hall (352) 392-6654 (352) 392-5237 ctapley@ufl.edu http://vista.courses.ufl.edu/ Class Webpage: COURSE MATERIALS: TEXTBOOK 1. Financial Management: Theory and Practice (12th Edition), Eugene F. Brigham and Michael C. Ehrhardt, Thompson/South-Western, 2008, ISBN: 0-324-42269-5. The official textbook for the class will be an excellent reference book as you start your career, as you may easily find that there will be times, on the job, when you need to reference prior material, or formulas, covered in your corporate finance classes at UF. However, books have become somewhat expensive, so you may, instead, purchase the 11th or 10th Edition of the book, typically at a cheaper price, through various online booksellers. However, there are minor differences between the 10th, 11th, and 12th editions; mainly in the order of the chapter. These differences should not impact your ability to perform well in this class, but you may need to map the chapters in the 10th or 11th Edition to those assigned in the 12th Edition. This is...
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...Journal of Multinational Financial Management 11 (2001) 17 – 37 www.elsevier.com/locate/econbase Diversification strategy and capital structure of multinational corporations Imed Eddine Chkir a,1, Jean-Claude Cosset b,* Faculty of administration, Uni6ersity of Ottawa, 136 Jean-Jacques Lussier Street, Ottawa, Ont., Canada K1N 6N5 b Departement de finance et assurance, Faculte des sciences de l’administration, Uni6ersite La6al, ´ ´ ´ Quebec, P.Q., Canada G1K7P4 ´ Received 3 April 1999; accepted 22 October 1999 a Abstract This study examines the relationship between the capital structure of multinational corporations (MNCs) and their diversification strategy. Both the international market (multi-country operations) and the product (multi-industry operations) dimension of diversification are integrated into the analysis and a switching of regression regimes methodology is employed that accounts for the bi-dimensional nature of the diversification strategy pursued by MNCs. The model identifies four types of diversification regimes. The results suggest that leverage increases with both international and product diversification. It is also found that the combination of both types of diversification leads to lower levels of bankruptcy risk. Although the role of the determinants of MNC capital structure varies with the diversification strategy, there seem to be common determinants. In particular, profitability and bankruptcy risks are negatively related to the debt ratio of MNCs. © 2001 Elsevier...
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...J. of Multi. Fin. Manag. 13 (2003) 123 Á/139 www.elsevier.com/locate/econbase Foreign-denominated debt and foreign currency derivatives: complements or substitutes in hedging foreign currency risk? William B. Elliott a,*, Stephen P. Huffman b, Stephen D. Makar b a Department of Finance, Oklahoma State University, 224 Business, Stillwater, OK 74078, USA b University of Wisconsin Oshkosh, Oshkosh, WI, USA Received 30 June 2001; accepted 20 April 2002 Abstract Using a unique dataset, this study examines the relationship between foreign-denominated debt (FDD), foreign currency exposure and foreign currency derivative (FCD) use, for a sample of US multinational corporations. We find a positive relationship between the exposure to foreign currency risk and the level of FDD, indicating that this debt may be used as a hedge. Moreover, FDD is negatively related to the use of FCD. We interpret this as further evidence that FDD is used as a hedge, and substitutes for the use of FCD in reducing currency risk. # 2002 Elsevier Science B.V. All rights reserved. Keywords: F23 Keywords: Hedging; Foreign debt; Currency derivatives 1. Introduction US multinational corporations (MNCs) employ a variety of financial and nonfinancial techniques to reduce or hedge their exposure to changing exchange rates (e.g. Bodnar et al., 1998; Marshall, 2000). Financial techniques include foreign- * Corresponding author. Tel.: '/1-405-744-8639; fax: '/1-405-744-5180 E-mail address: elliowb@okstate...
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...females in a single mating event may be common in some sharks and batoids (Carrier et al. 1994; Yano et al. 1999; Pratt & Carrier 2001; Chapman et al. 2003). Several species of requiem and hammerhead sharks (families Carcharhinidae and Sphyrnidae, respectively) are also known to store sperm for several months after copulation, raising the possibility that viable sperm from multiple males can accumulate over a protracted mating season and be available for delayed fertilization (Pratt 1993; Manire et al. 1995). Despite these life-history strategies that might seem conducive to multiple paternity, the latter has been documented in only two shark species, the lemon Negaprion brevirostris and nurse shark Ginglymostoma cirratum. In both these cases, the study animals were from small populations (< 100 breeding animals) and sampled from a single location from insular breeding grounds in the tropical western Atlantic (Ohta et al. 2000; Feldheim et al. 2001, 2002; Saville et al. 2002; E. Heist, pers. comm.). Furthermore, in both species (especially so with the nonmigratory G. cirratum), some individuals of both sexes appear to maintain long-term site fidelity (‘philopatry’) to the sampled breeding grounds (Pratt & Carrier 2001; Feldheim et al. 2002; Saville et al. 2002). The...
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...1 SPRING, 2014-2015 SCIENCE AND INFORMATION TECHNOLOGY Class Id 00001 00002 00003 00004 00005 00006 Course Name ADVANCED COMPUTER NETWORKS LABORATORY ADVANCED COMPUTER NETWORKS LABORATORY ADVANCED COMPUTER NETWORKS LABORATORY ADVANCED COMPUTER NETWORKS LABORATORY ADVANCED TOPICS IN PROGRAMMING III LABORATORY ALGORITHM LABORATORY 00007 00008 00009 00010 00011 00012 00013 00014 00015 00016 00017 00018 ALGORITHM LABORATORY ALGORITHM LABORATORY ALGORITHM LABORATORY ALGORITHM LABORATORY ALGORITHM LABORATORY ALGORITHM LABORATORY ARTIFICIAL INTELLIGENCE AND EXPERT SYSTEM LABORATORY ARTIFICIAL INTELLIGENCE AND EXPERT SYSTEM LABORATORY ARTIFICIAL INTELLIGENCE AND EXPERT SYSTEM LABORATORY ARTIFICIAL INTELLIGENCE AND EXPERT SYSTEM LABORATORY COMPUTER GRAPHICS LABORATORY COMPUTER GRAPHICS LABORATORY 00019 00020 00021 COMPUTER GRAPHICS LABORATORY COMPUTER GRAPHICS LABORATORY COMPILER DESIGN A D C B A D C B A G F E D C B A A B C D Sec A Time 12:0-2:0 11:0-2:0 10:0-12:0 11:0-2:0 4:0-6:0 2:0-5:0 4:0-6:0 5:0-8:0 4:0-6:0 5:0-8:0 08:0-10:0 08:0-11:0 10:0-12:0 08:0-11:0 12:0-2:0 11:0-2:0 2:0-4:0 2:0-5:0 08:0-10:0 08:0-11:0 4:0-6:0 08:0-11:0 4:0-6:0 5:0-8:0 2:0-4:0 2:0-5:0 4:0-6:0 11:0-2:0 12:0-2:0 11:0-2:0 4:0-6:0 5:0-8:0 08:0-10:0 08:0-11:0 10:0-12:0 08:0-11:0 12:0-2:0 11:0-2:0 2:0-4:0 2:0-5:0 12:30-2:0 Day T S W M S T T S M W S T M W T S W M M W W TH S T T S T TH W M M W W M T S W M T S ST RM 441 CL8 441 CL8 441 CL8 422 CL7 424 CL5 441 CL3 441 CL2 431 CL3 431 CL3 434 CL6 434 CL6 424 CL3 441 CL4...
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...appointment. Required texts: Readings available as noted below. • Trueblood cases from Deloitte. Available at: http://www.deloitte.com/view/en_US/us/About/university-relations/Deloitte-Foundation/0ac1264f0b0fb110VgnVCM100000ba42f00aRCRD.htm • FASB codification—password to be handed out in class. You may log in at http://aaahq.org/ascLogin.cfm Objectives This course examines: • How accounting principles are established and monitored by standard setters. • The strengths and weaknesses of various accounting methods and how applications of such methods affect decisions of users and preparers of financial statements. • Current issues facing standard setters and the profession. Grades will be determined as follows: 1. Class participation 45 possible points 2. Financial reporting timeline 5 possible points 3. Mini-cases (Trueblood, FASB, HBS or similar) 35 possible points 4. Problem sets and discussion question write-ups 30 possible points 5. Group presentation 10 possible points 6. Research paper 20 possible points 7. Final exam 5 possible points 150 possible points NOTE: I assume that you should plan to invest—at a minimum—three hours of time outside of class for every credit hour in class. Thus, for this 3-credit class, you should plan to invest at least nine hours per week in preparation and homework—plus...
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...in Spanish Communication Journals ´ david ferna ndez-quijada This article explores how journals published in a language other than English achieve a degree of internationality and can increase our knowledge of scientific publication patterns. This author offers a case study focused on Spanish communication journals from a sample of 1182 articles published from 2007 to 2009. The article examines three variables in this sample: the number of non-Spanish scholars, the use of languages other than Spanish, and how often non-Spanish journals are referred to. The results show that (a) these journals find it difficult to attract foreign scholars, (b) open-language policies have had a limited effect, and (c) internationality is constrained to the Spanish geolinguistic region. Keywords: internationality, local journals, Spanish scholarly journals, journal evaluation, communication sciences introduction The impact of published research is measured by means of well-established tools; one such tool is the Social Sciences Citation Index (SSCI). However, in the field of communication studies — and in fact in all the social sciences — the SSCI does not take account of all the research published; this is particularly visible in cases where research is published in languages other than English. For example, in 2009, only 81 out of the 1585 articles (5.11 per cent) indexed in the Communication category of the SSCI were not written in English. In the context of these facts, analysing the research...
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...JÖNKÖPING INTERNATIONAL BUSINESS SCHOOL J ÖNKÖPING UNIVERSITY C EO r emuneration in l isted E ur ope an insurance companies Trends and justifications over the years 2005-2009 Authors: Sara Palmén Jönköping International Business School Avare Suleyman Jönköping International Business School Tutor: Dr. Petra Inwinkl Associate Professor in Accounting and Finance, Jönköping International Business School Master thesis within Business Administration Title: CEO remuneration in listed European insurance companies – Trends and justifications over the years 2005-2009 Authors: Sara Palmén, Avare Suleyman Tutor: Dr. Petra Inwinkl Examiners: Dr. Petra Inwinkl, Prof. Gary Cunningham Date: Spring 2010 (uploaded 2010.06.03) Key words: CEO, chief executive officer, remuneration, fixed pay, variable pay, short-term, long-term, benefit, Europe, insurance, incentive, attraction, retention, agency theory, financial crisis, trend, justification. Abstract In the ever so increasingly competitive business climate of the 21st century, human resources are vital for corporate success. Employees need proper incentives to perform in goal-oriented manners. Incentive systems, especially Chief Executive Officer [CEO] remunerations, have been a popular topic since the 1990s, and this tendency has increased both during the 2002-2003 corporate scandal era, as well as the financial crisis which sparked in 2007. The recent tendency appears to lean...
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...Chapter 1 Chapter 1 INTRODUCTION ------------------------------------------------- Origin: Corporate Finance (MBA 507) is a course to be completed as a degree requirement for Masters of Business Administration (MBA). During the course taken our honorable teacher asked to prepare a report on dividend policy. We have chosen “Bata Shoe (Bangladesh) Ltd.” to study to prepare this report. The report is designed to gather practical knowledge from the corporate world. The objective is to get the experience of dividend policy that used in real corporate environment. It helps to integrate the knowledge learned in the class room from this course. ------------------------------------------------- Study Purpose: We are going to identify the theory which can be applicable for dividend policy to attract the investors. To find out the value of the corporation & scatter the importance of its uniqueness towards all the stakeholders, competitors and contemporary corporation. However, BATA has already demonstrated its excellence through good products to customers, but has not yet deceased his journey to titan its capital & Customers providing fruitful dividend. Bata is trying to formulate an accomplished dividend policy that offers the dividend after undertaking the investment for expanding the business and financial decision. ------------------------------------------------- Report Objective: The objective of the report is to know about the dividend policy...
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...holder was disputed as sufficient to foreclose. E. Whether the Court erred by holding that Brumfiel may not, as a non-party, challenge an assignment or agreement. F. Whether the court committed error by applying the Civil Access Pilot Program (CAPP) to Defendant’s foreclosure. G. Whether the court abused its discretion by making rulings on evidence that denied her a chance to tell her side, and withholding excess proceeds from the sale. H. Whether the plaintiff waived any deficiency judgment. 1 I. Whether the court erred by granting the CLG attorney’s fees from an Untimely, and Procedurally Defective Request. III. STATEMENT OF THE CASE The Trustee initially sought a Rule 120 which it ultimately withdrew fearing Judge Martinez in the federal case # 12cv02716, would allow a challenge to the constitutionality of the Rule 120. In the federal case Brumfiel charged the above foreclosure attorneys with conspiracy to deprive homeowner’s of due...
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...Term Paper Financial statement analysis report of: LVMH Hand-in date: 25.11.2010 Campus: BI Oslo Examination code and name: GRA 62123 Financial Reporting and Analysis Table of Contents EXECUTIVE SUMMARY 3 MARKET REVIEW: 4 COMPANY REVIEW 5 Management compensation 6 BUSINESS DESCRIPTION 7 Business Risk Analysis 8 FINANCIAL PERFORMANCE 9 Profitability 9 Activity Ratios 12 Financing and Liquidity 13 CASH FLOW ANALYSIS 15 VALUATION 16 CONCLUSION 17 References 19 Appendix 20 EXECUTIVE SUMMARY This paper analyzes LVMH group. Taking the recent developments and prospects in luxury goods industry as a starting point, the first part analyzed and compares LVMH with Hermes International and GUCCI, focusing in particular on performance which is analyzed through their activity, liquidity and financing and profitability position. The next part scrutinizes LVMH’s cash flow statement in order to evaluate its operating activities as well as the ability to cover its investments. The paper will conclude that LVMH presents a good investment alternative considering other companies in the same industry. Second, LVMH have a low risk given its solid financial structure and sufficient liquidity. Sales have grown at an average annual rate of 7.5% over the past five years driven by organic growth and acquisitions. MARKET REVIEW: APPAREL, ACCESSORIES & LUXURY GOODS INDUSTRIES Concetta Lanciaux, ex head...
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...book edited by Roger Griffin, see Fascism (book). "Fascist" redirects here. For the insult, see Fascist (insult). Part of a series on | Fascism | | Core tenets[show] | Topics[show] | Ideas[show] | People[show] | Literature[show] | Organizations[show] | History[show] | Lists[show] | Variants[show] | Related topics[show] | * Fascism portal * Politics portal | * v * t * e | Fascism /ˈfæʃɪzəm/ is a form of radical authoritarian nationalism[1][2] that came to prominence in early 20th-century Europe. Influenced by national syndicalism, fascism originated in Italy during World War I, in opposition to liberalism, Marxism, and anarchism. Fascism is usually placed on the far-right within the traditional left–right spectrum.[3][4] Fascists saw World War I as a revolution. It brought revolutionary changes in the nature of war, society, the state, and technology. The advent of total war and total mass mobilization of society had broken down the distinction between civilian and combatant. A "military citizenship" arose in which all citizens were involved with the military in some manner during the war.[5][6] The war had resulted in the rise of a powerful state capable of mobilizing millions of people to serve on the front lines or provide economic production and logistics to support those on the front lines, as well as having unprecedented authority to intervene in the lives of citizens.[5][6] Fascists view World War I as having made liberal democracy obsolete, and...
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...IMPACT OF STEALTH TECHNOLOGY ON AIR DEFENCE “Stealth refers to a wide range of steps that can be taken to make aircraft harder to detect. There is a payoff and a price.” - Jay H Goldberg [i] CHAPTER I INTRODUCTION 1. The latest trends in military aircraft manufacturing are towards development and incorporation of technology which can provide with means to avoid detection. This enhances its survivability by reducing its radar signature and hence reducing the possibility of being detected by enemy radars. The degree to which this is achieved differs from aircraft to aircraft. Certain aircraft like the B-2 and F-117 have been manufactured with this technology as the basis and are thus referred to as Stealth Aircraft. In other aircraft, stealth is achieved to a lesser degree but it nevertheless helps them in enhancing their survivability against enemy air defence. The day is not far when this technology is likely to find wide spread use in the field of aviation. 2. The dictionary defines stealth as "evasion of notice". Applied to Aerial Warfare, it implies the ability of an aircraft, or platform, to carry out its mission without being detected. Other terms such as "LO" - low observables, or "RO"- reduced observables, have also been used which imply the same thing. The very concept of 'Stealth' conjures up an image of something moving in secretly without being detected. 'Stealth' technology actually is all about the art of making aircraft, missiles and...
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...solution SOLUTIONS TO EXERCISES AND CASES For FINANCIAL STATEMENT ANALYSIS AND SECURITY VALUATION Stephen H. Penman Fifth Edition CHAPTER ONE Introduction to Investing and Valuation Concept Questions C1.1. Fundamental risk arises from the inherent risk in the business – from sales revenue falling or expenses rising unexpectedly, for example. Price risk is the risk of prices deviating from fundamental value. Prices are subject to fundamental risk, but can move away from fundamental value, irrespective of outcomes in the fundamentals. When an investor buys a stock, she takes on fundamental risk – the stock price could drop because the firm’s operations don’t meet expectations – but she also runs the (price) risk of buying a stock that is overpriced or selling a stock that is underpriced. Chapter 19 elaborates and Figure 19.5 (in Chapter 19) gives a display. C1.2. A beta technology measures the risk of an investment and the required return that the risk requires. The capital asset pricing model (CAPM) is a beta technology; is measures risk (beta) and the required return for the beta. An alpha technology involves techniques that identify mispriced stocks than can earn a return in excess of the required return (an alpha return). See Box 1.1. The appendix to Chapter 3 elaborates on beta technologies. C1.3. This statement is based on a statistical average from the historical data: The return on stocks...
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