...IAE Université Jean Moulin Lyon 3 General Management Program – 2012/2013 Business Economics BENIN – COUNTRY STUDY FOR INVESTMENT IN SOLAR ENERGY SECTOR Compiled by: Thi Hien Anh Nguyen Thi Hien Anh NGUYEN 2012 PREAMBLE This report is prepared as a preliminary research based on hypothetic scenario of an investment project of EUR10 million in solar energy sector in Benin. The report hence firstly focuses on the analysis of Benin’s macro-environment, including the political, socio-demographical, economic, legal and ecological environments which might impinge on the project. The report then goes further in analysing the current situation of the energy sector in Benin and the prospects offered for the solar energy sector in Benin. I/ BENIN – COUNTRY CONTEXT AND PROSPECTS 1. Country overview Benin (French: Bénin, formerly Dahomey), officially the Republic of Benin (French: République du Bénin), is a country in West Africa. Situated in the Gulf of Guinea, it is bordered by Togo to the west, by Nigeria to the east and by Burkina Faso and Niger to the north. A majority of the population live on its small southern coastline on the Bight of Benin. The capital of Benin is Porto-Novo, but the seat of government is in Cotonou, the country's largest city. Benin covers an area of approximately 110,000 square kilometers (42,000 sq mi), with a population of approximately 9.1 million. Benin is a tropical, sub-Saharan nation, highly dependent on agriculture, with substantial employment...
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...Running head: RISK MANAGEMENT AND THEIR INFLUENCES Risk Management and Their Influences on Corporate Governance University of Maryland University College Graduate School of Management& technology Executive Summary Implementing a risk management process in line with organizational or business goals and objectives is vital for successfully managing or mitigating risk. Risk identification, analysis, handling, and monitoring should be addressed by all stakeholders. The process should be implemented in accordance with a pre constructed Risk management plan. A well developed risk assessment will make use of the considerable number of assessments, planning, and formal risk identification performed to provide a picture of the composite or overall risk associated with an organization. Also an effective risk mitigation strategy will provide a significant increase in the confidence level that a business or organization will meet its cost, schedule, and performance requirements. Introduction Risk is an important concept that plays a major role in the success of a business and organization. Risk is defined as the exposure to injury or loss. Every decision that we make as human beings contain some form of risk and most of the time the weight of the risk determine whether we will follow through with an action or not. Risk Management is a systematic way to keep those risks in check and a way to limit those risks in impacting the...
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...broker Insurance agents and brokers play an important role in marketing life insurance policies. They are the face of the insurance company.Most of the insurance policies world over are sold by insurance agents and brokers. From the insurance company point of they are the marketing and selling agents for their insurance plans. The following are the basic function they should perform. -Provide all the necessary application forms. -Submit application forms to the company. -Arrange for all the medical tests and related formalities. -Provide reminders premiums payments and return receipts. -Should help you make necesary changes in address ,nomination etc. -Help in the process of assignment -Assist you for any loan applications and related formalities -Should help you revive lapsed policies -Assist in claiming death benefits, if required ____----- ROLE OF AN INSURANCE AGENT The role of an insurance agent is to supply a comprehensive policy which will provide adequate protection in the event of a loss on your new home. It should offer coverage for your dwelling, personal property, loss of use, and liability. The amount of insurance should be equal to the replacement value of the dwelling. A bank or mortgage company cannot require insurance in excess of the dwelling replacement cost. The insurance agent can help you to calculate the replacement value of your new home. Although provisions of the basic homeowner contract are set by the insurance commissioner...
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...Annual Report 2009 Important Statement The Board of Directors of China Everbright Bank hereby undertakes that all information included in this Report does not contain any false information, misleading statement or material omission. Annual Report 2009 of China Everbright Bank was deliberated and passed at the third meeting of the Fifth Board of Directors of the Bank on March 24th, 2010. KPMG Huazhen audited the Bank’s Annual Financial Statements in accordance with China Standards on Auditing for Certified Public Accountants and issued an unqualified auditor’s report. Board of Directors China Everbright Bank Corporation Limited Contents Message from the Chairman of the Board of Directors 6 Message from the President 8 Message from the Chairman of the Board of Supervisors 10 Major Financial Information 12 Organizational Chart 14 Corporate Governance 18 Meetings of the Board of Directors and Board of Supervisors 21 Directors, Supervisors, Senior Management and Staff 24 Shareholders Profile and Related-Party Transactions 42 Management Report 45 Risk Management 48 Material Issues 57 Social Responsibility Report 58 Public Awards and Honors 60 Report of the Auditors 64 Financial Statements 66 Notes to Financial Statements 76 Address Book of Head Office and Branches 166 Message from the Chairman of the Board of Directors 6 Message...
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...(VRA), Independent Power Producers (IPPs), Ghana Grid Company (GRID Co), Electricity Company of Ghana (ECG), Northern Electricity Distribution Company (NEDCo), and Enclave Power Company (EPC); they are in charge of power generation, transmission and distribution. The Petroleum sub-sector also has bodies such as Ghana National Petroleum Corporation (GNPC), Tema Oil Refinery and the Bulk Distribution Companies; they are in charge of production, refining, transportation and distribution of oil products. There are five key bodies in the Regulatory agencies: Power and Utility Regulatory Commission (PURC), Energy Commission (EC), National Petroleum Authority (NPA), Petroleum Commission and Environmental Protection Agency (EPA). In addition to others, their combined operations include approval of tariffs, licensing operators both upstream and downstream of the petroleum sector as well as. Table 1 outlines the key energy subsectors and public institutions under each sector. Table 1: Key Energy Subsectors and Public Institutions Ministry / Agency Responsibilities MINISTRY OF ENERGY AND PETROLEUM Policy formulation, monitoring and evaluation, and implementation of government programmes A) POWER SUB-SECTOR: Volta River Authority (VRA) Bui Power Authority Independent Power Producers (IPPs) Ghana Grid Company (GRIDCo) Electricity Company of Ghana (ECG) Northern Electricity Distribution Company (NEDCo) Enclave Power Company Power generation Power generation Power generation...
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...rate for such bond could turn out negative inflationadjusted payoff when tight monetary policy is exercised and the corresponding equity holding turns out valueless, ex post. Given the weak primary market and virtually nonexistent secondary market, the corporate bond market in Vietnam reflects our perception of the relationshipbased and rent-seeking behavior in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradable financial assets. JEL Classifications: G32, G38, O16 Keywords: Vietnam; Corporate Bond; Interest Rate; Transition Economy; Debt Market CEB Working Paper N° 10/001 January 2010 Université Libre de Bruxelles - Solvay Brussels School of Economics and Management Centre Emile Bernheim ULB CP145/01 50, avenue F.D. Roosevelt 1050 Brussels BELGIUM e-mail: ceb@admin.ulb.ac.be Tel. : +32 (0)2/650.48.64 Fax : +32 (0)2/650.41.88 Corporate Bond Market in the Transition Economy of...
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...HR and Business Acronyms AA 1.) Affirmative Action 2.) Adverse Action AACU American Association of Colleges and Universities AAO Affirmative Action Office AAP Affirmative Action Plan AAR Average Annual Return AARP American Association of Retired Persons ABF Asset Based Financing ABM Activity Based Management ABMS Activities Based Management System ABS Asset Backed Security ACH Automated Clearing House AD & D Accidental Death and Dismemberment ADA Americans with Disabilities Act ADEA Age Discrimination and Employment Act ADL Activities of Daily Living ADP Automatic Data Processing ADR Alternative Dispute Resolution AE Account Executive AED United Arab Emirates AFL-CIO American Federation of Labor and Congress of Industrial Organizations AFSCME American Federation of State, County and Municipal Employers AJB Americas Job Bank ALC Alien Labor Certification ALEX Automated Labor Exchange ALJ Administrative Law Judge ALM Asset Liability Management AM Asset Management AMA 1.) American Management Association 2.) American Medical Association AMPS Auction Market Preferred Stock ANSI American National Standards Institute AP Accounts Payable AR Accounts Receivable APB Accounting Principles Board APR Annual Percentage Rate APV Adjusted Present Value APY Annual Percentage Yield ASAE American Society of Association Executives ASB Accounting Standards Board ASHHRA American Society for Healthcare Human Resources Administration ...
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...[Type the company name] | Assignment :Operation Management | How the sugar sector in Mauritius responded to the different challenges it faced due to changing market environment | | Chandonee DEEPCHAND RENE | 9/15/2014 | Operations Management is of primary importance to any business or organization. This paper gives an overview o f the different areas which affects operational decision makings and the challenges that operations managers face with changing market environment. Finally it looks into how the Mauritian Sugar Industry have risen to these challenges through operations changes and maintain both the industry and Mauritian economy viable. | Contents 1. Introduction 4 2. Factors affecting operations decision making. 5 2.1. Quality 5 2.2. Product/service Design 6 2.3. Layout facilities 7 2.3.1. Economies in Handling 8 2.3.2. Effective Use of Available Area 8 2.3.3. Minimization of Production Delays 8 2.3.4. Improved Quality Control 8 2.3.5. Avoidance of Bottlenecks 8 2.3.6. Better Production Control 9 2.3.7. Better Supervision 9 2.4. Location the facility and Transporting materials and products 9 2.5. Designing jobs and work 10 2.6. Forecasting Demands for products and services 11 2.7. Production planning and scheduling 11 3. Changing Challenges for operational Managers 12 3.1. Globalisation 12 3.2. Just-in-time performance 12 3.3. Supply chain partnering 12 3.4. Rapid product development 13 ...
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...1. Introduction 3 2.Company Profile- Brief Overview 3 2.1 Consumer banking: 6 3. Liquidity Risk: 7 3.1 Measuring Liquidity Risk –SCB 7 3.2 Measuring Credit Risk Exposure 10 3.3 Market Rate Risk 11 3.4 Value at Risk (VaR) 12 4. CAMEL RATING SYSTEM 13 1. Executive Summary International Banking can be defined as banking transactions crossing national boundaries. The activities involves like international lending; claims of domestic bank offices on foreign residents, claims of foreign bank offices on local residents, claims of domestic bank offices on domestic residents in foreign currency are the major activities involved in International Banking. The evolution of banking history dates back to 2000 BC in Assyria and Babylonia; while the modern banking systems originated in Renaissance Italy. The major incentive for the growth of international banking was migration of domestic customers who were MNE’s growing foreign activities and the impacts of regulatory differences. The report is comprised of Liquidity risks, market risks, credit risks of Standard Chartered Bank Plc. The company also demonstrates the firm efficiency of the firm using CAMEL RATING SCALE. The overview of the analysis states that the firm is operating proficiently under the guidelines of BASEL. Introduction According to Lewis & Davis (1987, p. 219), international banking is a denotation of cross-border and cross currency facets of banking business. They classify international banking into...
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...The Change Plan PROPOSALS BY THE CHANGE MANAGEMENT TEAM TO THE SECRETARY-GENERAL United Nations NEW YORK, DECEMBER 2011 The Change Plan TABLE OF CONTENTS Acknowledgement ........................................................................................................................................ 01 1. Executive Summary ................................................................................................................................. 02 2. Introduction ........................................................................................................................................... 09 3. Context ................................................................................................................................................... 10 4. The Secretary-General’s Vision ................................................................................................................ 12 5. Deliverable One – Enhancing Trust and Confidence: Towards a more stakeholder and client-oriented organizational culture ............................................................................................. 13 6. Deliverable Two – Engaging Staff: A global, dynamic, adaptable, meritocratic and physically secure work force. .......................................................................................................... 19 7. Deliverable Three – Improving Working Methods: A more open and accountable UN with streamlined procedures...
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...How did Financial Reporting Contribute to the Financial Crisis? Mary E. Barth & Wayne R. Landsman a a b Graduate School of Business , Stanford University , Stanford, CA, USA b Kenan–Flagler Business School , University of North Carolina at Chapel Hill , Chapel Hill, NC, USA Published online: 07 Jul 2010. To cite this article: Mary E. Barth & Wayne R. Landsman (2010) How did Financial Reporting Contribute to the Financial Crisis?, European Accounting Review, 19:3, 399-423, DOI: 10.1080/09638180.2010.498619 To link to this article: http://dx.doi.org/10.1080/09638180.2010.498619 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors, and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information. Taylor and Francis shall not be liable for any losses, actions, claims, proceedings, demands, costs, expenses, damages, and other liabilities whatsoever or howsoever caused arising directly or indirectly in connection with, in relation to or arising out of the...
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...INDIA Bank Karur Vysya Bank (KVB) Initiation 2 May 2012 Key Data Bloomberg Code Reuters Code Current Shares O/S (mn) Diluted Shares O/S(mn) Mkt Cap (Rsbn/USDmn) 52 Wk H / L (Rs) Daily Vol. (3M NSE Avg.) Face Value (Rs) USD = Rs52.9 KVB IN KARU.BO 107.2 107.2 43.2/816.1 479/315 325,412 10 Buy Target Price: Rs500 CMP: Rs403 Upside: 24% *as on 30 April 2012 A re-rating candidate Karur Vysya Bank (KVB) is a play on consistently robust performance driven by strong asset side position – a result of deeper understanding of its target segment. This has translated into strong pricing power and contained credit costs and hence robust avg ROA of ~1.6% for last decade. Renewed focus on improving liability side should aid continuity of impressive return ratios in future. Given robust financial performance on consistent basis, current valuations seem unjustified on absolute (1.1x FY14E PBV) and relative basis (~40% discount to new-gen pvt banks and at par with south based peers). KVB, a regional but quality franchisee, should get re-rated from its currently attractive valuations (1.1x FY14E PBV). Initiating coverage with Buy. Strong asset side position: KVB, a regional banking player in Southern India, has carved out a niche for itself by catering to working capital requirements with clear preference towards secured credit. Capitalising on its regional focus, KVB has churned out consistent RoA (1.6%) & RoE (~20%) during FY06-FY12 – encompassing varied operating environments...
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...Statement Statement on Corporate Social Responsibility Corporate Governance Statement Report of the Audit Committee Statement on Internal Control Profile of Directors Directors’ Responsibility Statement in Respect of the Annual Audited Financial Statements Financial Statements Directors’ Shareholdings and Interests Analysis of Shareholdings List of Group Properties Statement Regarding Revaluation Policy Form of Proxy 2–4 4 5 6 7 8–9 10 – 13 14 – 16 17 – 21 22 – 25 26 – 27 28 – 31 32 33 – 97 98 99 – 102 103 104 105 Contents 1 PADINI HOLDINGS BERHAD (50202-A) annual report 2012 Notice of Annual General Meeting For the financial year ended 30 June 2012 NOTICE IS HEREBY GIVEN that the Thirty First Annual General Meeting of the Company will be held at No. 19 Jalan Jurunilai U1/20, Hicom Glenmarie Industrial Park, 40150 Shah Alam, Selangor Darul Ehsan on 18 December 2012 at 10:00 a.m. for the following purposes:AGENDA Ordinary Business 1. To receive the Audited Financial Statements for the financial year ended 30 June 2012 together with (Ordinary the Reports of the Directors and Auditors thereon. Resolution 1) 2. To approve payment of Directors’ fee of RM115,000.00 in respect of the financial year ended 30 (Ordinary June 2012 (2011 : RM120,000.00). Resolution 2) 3. To re-elect the following Directors who are retiring in accordance with Article 102(1) of the Company’s Articles of Association:i) Mr. Cheong Chung Yet (Ordinary Resolution 3) (Ordinary Resolution 4) Notice...
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...Statement Statement on Corporate Social Responsibility Corporate Governance Statement Report of the Audit Committee Statement on Internal Control Profile of Directors Directors’ Responsibility Statement in Respect of the Annual Audited Financial Statements Financial Statements Directors’ Shareholdings and Interests Analysis of Shareholdings List of Group Properties Statement Regarding Revaluation Policy Form of Proxy 2–4 4 5 6 7 8–9 10 – 13 14 – 16 17 – 21 22 – 25 26 – 27 28 – 31 32 33 – 97 98 99 – 102 103 104 105 Contents 1 PADINI HOLDINGS BERHAD (50202-A) annual report 2012 Notice of Annual General Meeting For the financial year ended 30 June 2012 NOTICE IS HEREBY GIVEN that the Thirty First Annual General Meeting of the Company will be held at No. 19 Jalan Jurunilai U1/20, Hicom Glenmarie Industrial Park, 40150 Shah Alam, Selangor Darul Ehsan on 18 December 2012 at 10:00 a.m. for the following purposes:AGENDA Ordinary Business 1. To receive the Audited Financial Statements for the financial year ended 30 June 2012 together with (Ordinary the Reports of the Directors and Auditors thereon. Resolution 1) 2. To approve payment of Directors’ fee of RM115,000.00 in respect of the financial year ended 30 (Ordinary June 2012 (2011 : RM120,000.00). Resolution 2) 3. To re-elect the following Directors who are retiring in accordance with Article 102(1) of the Company’s Articles of Association:i) Mr. Cheong Chung Yet (Ordinary Resolution 3) (Ordinary Resolution 4) Notice...
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...How did Financial Reporting Contribute to the Financial Crisis? Mary E. Barth Graduate School of Business Stanford University Stanford, CA, 94305 mbarth@stanford.edu. Wayne R. Landsman Kenan-Flagler Business School University of North Carolina at Chapel Hill, Chapel Hill, NC 27599 wayne_landsman@unc.edu. May 2010 Forthcoming, European Accounting Review, 2010 We appreciate comments from seminar participants at the Bank of Spain, Rob Bloomfield, Elicia Cowins, Hilary Eastman, Gavin Francis, Christian Kusi-Yeboah, Jim Leisenring, Martien Lubberink, Richard Rendleman, David Tweedie, and an anonymous reviewer. We acknowledge funding from the Center for Finance and Accounting Research at UNC-Chapel Hill and the Stanford Graduate School of Business Center for Global Business and the Economy. Electronic copy available at: http://ssrn.com/abstract=1601519 How did Financial Reporting Contribute to the Financial Crisis? Abstract We scrutinize the role financial reporting for fair values, asset securitizations, derivatives, and loan loss provisioning played in the Financial Crisis. Because banks were at the center of the Financial Crisis, we focus our discussion and analysis on the effects of financial reporting by banks. We conclude fair value accounting played little or no role in the Financial Crisis. However, transparency of information associated with asset securitizations and derivatives likely was insufficient for investors to assess...
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