...排名 |公司（英文/中文） |产业 |销售额（亿美元） |利润（亿美元） |资产（亿美元） |市值（亿美元） | |8 |HSBC Holdings / 汇丰控股 |银行业 |1037.36 |58.34 |23558.32 |1782.66 | |10 |BP / 英国石油 |石油及天然气 |2392.72 |165.78 |2354.52 |1671.28 | |21 |Barclays / 巴克莱银行 |银行业 |659.13 |151.74 |22230.45 |561.50 | |29 |Lloyds Banking Group / 劳埃德银行集团 |银行业 |1066.66 |45.67 |16507.79 |502.47 | |46 |Vodafone / 沃达丰 |电信服务 |583.46 |43.78 |2179.68 |1122.61 | |68 |Rio Tinto / 力拓 |材料 |418.25 |48.72 |950.05 |1183.36 | |71 |GlaxoSmithKline / 葛兰素史克 |医药与生物技术 |458.29 |89.35 |653.82 |953.61 | |84 |Tesco / 特易购 |食品市场 |779.44 |31.00 |656.12 |514.34 | |99 |Standard Chartered Group / 渣打银行集团 |银行业 |209.41 |33.80 |4355.57 |461.61 | |100 |AstraZeneca / 阿斯利康 |医药与生物技术 |328.04 |75.21 |536.28 |635.55 | |122 |Aviva / 英杰华集团 |保险业 |959.77 |17.52 |5597.09 |155.09 | |129 |Prudential / 保诚集团 |保险业 |776.73 |11.14 |3614.99 |200.51 | |133 |British Amer Tobacco / 英美烟草 |食品、酒类及烟草 |229.53 |43.83 |424.12 |682.66 | |138 |Anglo American / 英美集团 |材料 |211.56 |24.60 |567.96 |481.89 | |156 |BG Group / 英国天然气 |石油及天然气 |164.99 |35.02 |423.04 |581.64 | |186 |National Grid / 英国国家电网 |公用事业 |222.25 |13.43 |635.40 |242.38 | |194 |Imperial Tobacco Group/ 帝国烟草公司 |食品、酒类及烟草 |235.97 |10.61 |508.23 |319.37 | |215 |Diageo / 帝亚吉 |食品、酒类及烟草 |153.39 |26.71 |286.95 |409.35 | |217 |Centro Properties Group / 中央地产集团 |公用事业 |343.93 |13.22 |313.95 |216.84 | |220 |SABMiller / 南非米勒酿酒 |食品、酒类及烟草 |148.83 |18.81 |314.58 |424.47 | |257 |Legal & General Group / 法通保险 |保险业 |707.09 |13.94 |4796.45 |64.11 | |283 |Rolls-Royce Group...
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...Term Reports on Listed Company NAME: TIAN YU Content I. Introduction II. History and background on the company III. Financial analysis IV. Financial reports V. Current value of common shares VI. Summary and conclusions VII. Appendix I (Include footnotes giving sources of quoted and paraphrased material) VIII. Appendix II (Include appendices, if needed, containing correspondence or other supporting schedules and documents, including the financial statements) IX. References (Include appendices, if needed, containing correspondence or other supporting schedules and documents, including the financial statements) I. Introduction Yahoo! Inc. is a main player of internet information provider industry. Based on their I good operation performance in recent few years, more and more investor are re-purchasing their stocks. II. History and background on the company The US Public company, Yahoo! Inc. (Yahoo!), found in 1994 has been one of the largest technology company in the world. At the begining, the founders of the company create a website named “jerry and David’s Guild to the World Wide Web”, a simple directory of websites to help people navigate the Internet. In march 1994, that website name was renamed “Yahoo”. The “Yahoo.com” domain was incorporated in 1995 and is a Delaware corporation. Yahoo grew rapidly throughout the 1990s. As other companies of search engines and web directors, Yahoo added a web portal. At the year of 1998, Yahoo was the...
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...Research on Earnings Management in Listed Companies Name: Jing LI Table of Contents 1.Overview of earnings management theories 3 2.Motivations for earnings management in listed companies 7 3. Means to do earnings management 12 4.Conclusion 17 1.Overview of earnings management theories 1.1 Meaning of Earnings Management To research on earnings management, we must understand the meaning of earnings management. In financial accounting theory, different researchers have different understandings of the meaning of the earnings management. First, researchers mainly hold three opinions: First one is that earnings management is due to a keen interest of managers on the choice of accounting policies. Mangers will choose those accounting policies that maximize their own utility or market value of the company. Meanwhile, the accounting policy will not exceed the scope of the accounting standards. The second one is based on the information concept. In this view, earnings management is the concept of a "disclosure management", or to say that the management of the company (including the board of directors, managers, department heads) for certain private interests to control financial statements when disclosing. The third one is from the objectives of standard-setters. Earnings management is that the authorities use professional judgment to prepare financial statements and through the planning transaction to mislead the stakeholders’...
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...LN) Rio Tinto Ltd (RIO AU) vs Rio Tinto Plc (RIO LN) Introduction: The purpose of this report is to provide a basic overview of the dual-listing environment, highlighting the nature of company structures involved, why the structures were adopted and how they work. Contents: Page 1. Frequently Asked Questions 2 2. Why do Dual Listed Companies Exist? 4 3. Dual Listing Structures 5 4. Currency Risk 6 5. Terminology 7 6. Factors Affecting Performance 8 Appendix 1: Stock Specific Data A.1 Reed Elsevier NV vs Reed Elsevier Plc 10 A.2 Royal Dutch NV vs Shell T&T Plc 12 A.3 Unilever NV vs Unilever Plc 14 A.4 BHP Billiton Ltd vs BHP Billiton Plc 16 A.5 Brambles Ind. Ltd vs Brambles Ind. Plc 18 A.6 Rio Tinto Ltd vs Rio Tinto Plc 20 Glossary of Terms 22 1. Frequently Asked Questions Q. What is a dual listed structure? Where a company is listed on two exchanges it is referred to as a Dual Listed Company. The two listed organizations have entered into profit-sharing agreements with each other, and 'equalization-ratios' exist to keep the economic performances of the two stocks pegged to each other. Q. What is an equalization ratio? At the time the dual listed structure is created, a ratio is set to peg the economic performance of each leg against the other. This...
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...FIN 922 – Investment Management In this report we shall discuss three companies which are listed in various exchanges in the U.S and conduct an event study and make a consensus on their responsiveness to an Earnings Surprise. We also need to establish a relationship between the Market Index and the Stock in itself. This relationship can be determined by running a regression and using the Market as the independent variable and the Stock as the dependent variable. In order to analyze the responsiveness of a stock, we need to understand and imply the concept of the beta. The beta is a measure of the volatility, or systematic risk, or a portfolio in comparison to the market as a whole. Beta is used in the capital asset pricing model (CAPM), a model that calculates the expected return of an asset based on its beta and expected market returns. Beta is calculated using regression analysis and you can think of beta as the tendency of a security’s returns to respond to swings in the market. A beta of less than 1 means that the security will be less volatile than the market. Now, we are going to conduct an event study for 3 companies. 1.) Parker Drilling 2.) Autobytel Inc. 3.) Auxilium Pharmaceuticals, Inc. 1. Parker Drilling Company Introduction Parker Drilling is part of the Oil & Gas Equipment & Services industry. The company was founded in 1934 and is headquartered in Houston, Texas. Parker Drilling specializes in barge drilling, onshore drilling...
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...the Administration of Information Disclosure of Listed Companies China Securities Regulatory Commission 01-30-2007 Order of the China Securities Regulatory Commission [2007] No. 40 The Procedures on the Administration of Information Disclosure of Listed Companies deliberated and adopted at the 196th Chairman Working Meeting of the China Securities Regulatory Commission are hereby promulgated and shall be effective as of the date of promulgation. Appendix: Procedures on the Administration of Information Disclosure of Listed Companies Chapter 1: General Provisions Article 1: These Procedures are formulated in accordance with the Company Law, the Securities Law and other laws and administrative regulations in order to regulate information disclosure of issuers, listed companies and other persons with information disclosure obligations, to strengthen the administration of information disclosure affairs and to protect the lawful rights and interests of investors. Article 2: Persons with information disclosure obligations shall disclose information truthfully, accurately, completely and timely and there shall be no falsehood, misleading representation or major omission. Persons with information disclosure obligations shall make public information disclosure to all investors at the same time. Where companies that issue and list securities and their derivatives...
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...Planning and Building Regulations * Legislation The principal legislation is the Town and Country Planning Act 1990 (‘TCPA 1990’), as amended. Much of the detail of the system, however, is to be found under various statutory instruments brought into force under this Act. * When is planning permission needed? Planning permission required for the carrying out of ‘development’. In basic terms, planning permission is needed in respect of any activity which constitutes ‘development’. ‘Development’ is defined in s 55 of the TCPA 1990 as follows: “… the carrying out of building, engineering, mining or other operations in, on, over or under land, or the making of any material change in the use of any buildings or other land…” This definition includes the erection of new buildings, the demolition of and alteration to existing buildings and/or the making of a material change of use (please refer below) to a property. Note that provided any one of these elements is present, the possibility of the need for planning permission needs to be considered. It is possible for there to be building works but not a change of use and, equally, for there to be a change of use without building works: in both cases, the proposals may amount to development and so require planning permission. As regards change of use, only a material change in use requires permission. ‘Material’ is not defined and is a question of fact and degree in each particular case. * Matters which...
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...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 towards companies cutting their executive bonuses as well as criticism...
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...Student ID: 471727 Report Contents 1. Executive Summary 3 2. Introduction 3 3. Site Location & Description 3 4. Listing Extract 4 5. Statutory Controls 5 6. Evaluation of Development 5-6 7. Development Options 6-7 8. Appraisal of Repairs 7-9 9. Adaption Works 9-10 10. Conclusion 10 11. References & Bibliography 11 12. Photographs & Illustrations 12-16 ------------------------------------------------- 1.0 Executive Summary This executive summary provides a conservation plan and feasibility study considering the options for the proposed development and economic re-use of the grade II* Listed Wellington Rooms Liverpool. The conservation plan and feasibility study have been prepared on the instruction of Mr Paul Kenny & Miss Sarah Buxbaum of the School of the Built Environment, Liverpool John Moores University....
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...1 CHAPTER ONE INTRODUCTION 1.1 Background of the Study Financial strategy is the largest corporate financial decisions that are made by the financial management committee and it is the most crucial for all organization or company for their strategy to make profit to their firms. Financial strategy also will influence the capital structure. The theory of Capital structure is closely related to the firm’s cost of capital. It is one of the effective tools of management to manage the cost of capital. Capital structure is the mix of the long-term sources of funds used by the firm. The primary objective of capital structure decisions is to maximize the market value of the firm or achieving the maximization of shareholders wealth through an appropriate mix of long-term sources of funds and an optimal capital structure is reached at a point where the cost of the capital is minimum. To design the capital structure, the element that should consider is first, the wealth maximization is attained and second, is the best approximation to the optimal capital structure. In finance, capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities (Saad, 2010). In short, capital structure is a mixture of a company's debts (long-term and short-term), common equity and preferred equity in financing its assets. Capital structure is essential on how a firm finances its overall operations and growth by...
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...The roles of company secretary has been transformed from the traditional role of preparing the minutes of meeting to a more proactive and strategic role. They are consulted by the boards on procedural and regulatory requirements and sometimes they are required to provide induction to new directors, assistance to chairperson in determine annual board plan and administration of other strategic issues. Based on above statement prove that there is an increasing recognition of the need to elevate the position and function of company secretaries to allow them take on a stronger role in promoting governance within companies. (Corporate Governance Blueprint 2011 Pg 67) The position of company secretary will enable them to have a holistic view of the governance framework which results that tasked with responsibility of ensuring the framework and any supporting policies and procedures are clearly documented. E.g. requirements of formal documentation under the Code such as schedule of matters reserved for the Board is in place. (Deloitte: The Changing Role of the Company Secretary Focus on Governance, http://www2.deloitte.com/ie/en/pages/legal/articles/changing-role-secretary.html) Besides that, company secretary shall play a leading role in good governance by helping the Board and the committee function effectively and in accordance with the Term of Reference and Best Practice. E.g. supports which beyond scheduling meetings to proactively managing the agenda and ensuring the presentation...
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...internationalization process of Finnish firms Similarities and differences Submitted by: Sarada P Sahu Student Number - 601502 Table of Contents Introduction 3 Internationalization process of the Raisio group 3 Internationalization process for Jaakko Poyry Group 5 Internationalization process for Kone elevators 7 Comparison in the internationalization process of firms 8 Similarities 8 I. External environmental conditions: 8 II. Leadership and top management: 8 Differences 9 I. Strategy for Internationalization 9 II. Outlook of the company 11 III. Organizational and business structure: 12 Conclusion 13 Introduction The study of the Internationalization process for Finnish firms has been quite interesting in terms of the variety of the methods used by the companies to do so and in the nature of the learning that can be gained from the same. While studying about processes and the tactics being used by the companies’ one also has to pay importance to the external environment in terms of the economy, government and social and cultural factors that play a very important part in the decision making during the internationalization process. The major factors that have led to the internationalization process in Finnish firms can be classified into five major categories as mentioned. The first factor is the competence development in individuals and exploitation of the critical events that occur in the world. The second is the creation of international business through...
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...Page Summary 1 1. Introduction 2 2. Background 2 2.1 Kesa Electricals 2 2.2 DSG International PLC 2 3. The review of intended strategy of Kesa and DSG in the first year 3 3.1 The intended strategy of Kesa 3 3.2 The intended strategy of DSG 3 4. Analysis of external environment 3 4.1 Analysis of macro-environment 4 4.2 Analysis of industry 4 5. The importance of stakeholders 5 5.1 Kesa’s stakeholders 6 5.2 DSG’s stakeholders 6 5.3 Stakeholder mapping 7 6. Marketing management 8 6.1 Kesa Company 8 6.2 DSG Company 9 6.3 Compare and contrast the Companies 10 7. Operation management 12 7.1 Comparing the differences between Kesa and DSG with 6M’s frame 14 8. Human resources 16 8.1 Intangible factors of Kesa 16 8.2 Four Cs analysis of Kesa 16 8.3 The intangible factors of DSG 18 8.4 Four Cs analysis of DSG 18 9. Finance director 20 9.1Horizontal and vertical analysis 21 9.2 Ratio analysis 21 10. Change Management 26 11. The evaluation of two companies’ intended strategy in 06-07 30 11.1 The evaluation of Kesa’s intended strategy in 06-07. 30 11.2 The evaluation of DSG’s intended strategy in 06-07 31 12. Intend strategy in third year 31 12.1 The new intended strategy of 2008/09 in Kesa. 31 12.2 The new Intended strategy of 2008/09 in DSG 32 13. Conclusion 32 14. Reference 33 FIGURE AND TABLE LIST Figure1: PESTEL Framework………………………………………………………………….………………………………4 Figure2: Michael Porter’s Five Forces Model…………………………………………………………………….………...5 Figure3:...
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...Group Work: Financial Statement Analysis of your selected listed Bangladeshi company Guideline for Term Paper Dear All, Please complete the strategy analysis and accounting analysis based on the following guideline by next 2 weeks for the company allocated to your group for term paper, and give me the update. Topic Specific Topics Key Questions Strategy Analysis Industry Analysis (Five forces Model) Rivalry -How do firms in an industry rivalry compete among themselves? -What are the dimensions of the competition? Threat of new entrants -What are the legal entry barriers for a new firm? -What are the economic entry barriers for a new firm? Threat of substitute products -Is there any substitute products of the industry? -If so, What is the level of price difference with substitute product? Bargaining power of buyers -What is level of buyers’ price sensitivity? -What is the buyers’ relative bargaining power? Bargaining power of suppliers -How many numbers of suppliers? -How much critical the product is to buyers? Competitive Strategy Analysis Which competitive strategy the company has taken? Cost leadership or Differentiation Corporate Strategy Analysis -Are there significant imperfections in the product, labor or financial markets in the industry in which the company is operating? - Does the company have special resources such as brand names, proprietary know how, access to scarce distribution channels, and special organization...
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...Koc Holding: Arcelik White Goods Group: 10B The International Expansion of Arcelik started in 1980s and the export department was established. With the reduction in tariffs on trade between Turkey and The European Community, the interest in exports increased significantly. After the study of the market reach, Arcelik decided upon Western Europe as being the most appropriate to start international business. An added dimension was to learn from a healthy competition from the joint venture of the German giants Bosch & Siemens. Since the Turkish Government has already reduced the import tariff interest to nil, Arcelik’s domestic market was vulnerable to competition from Bosch & Siemens-the largest household appliance makers in Western Europe and Germany. Arcelik’s most successful European market-United Kingdom- was established in 1989. This was chosen keeping in mind that UK was a price sensitive market with no domestic domination, thus empowering Arcelik with the opportunity to capture market share through volatile consumer purchasing power. The lack of domestic brand dominance provided a chance for Arcelik to establish customer-base and loyalty by providing good quality appliances at cheaper prices. Two-thirds of the refrigerator sales attributed to table-top refrigerators. The retail prices (including taxes) for these were £150, and on sales in 1997 of approximately 200,000 units would yield revenue around 30mn. After an expenditure on advertising 0.6mn, Arcelik is expected...
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