...Enhancing Competitiveness: The Case of the Indian Life Insurance Industry Shilpa Rastogi* Runa Sarkar*,** Abstract: Insurance industry contributes to the financial sector of an economy and also provides an important social security net in developing countries. The consistent sub-optimal performance of this sector in India from independence through the 1990s has led to different sets of reforms, with each model adopted focusing on distinct competitive strategies. This study identifies the causes and the objectives with which the sector was reformed in 2000 to conclude that only in the last decade, the hybrid model of privatization with regulation adopted by the Government has yielded positive results and the sector has started to look up. The sector in its present form looks promising for the consumers, the insurers and the nation as a whole. Keywords: life insurance, regulation, competitiveness, Governmental reforms Theme: Enhancing Competitiveness Sub-Theme: Strategies for Enhancing Competitiveness of Firms, Industry Sectors and Country Introduction The insurance industry affects money, capital markets and the real sectors in an economy, making insurance facility necessary to ensure the completeness of a market. It is an industry with strategic importance for any country as it contributes to the financial sector (and hence the GDP) as well as confers social benefits on the society. At the micro-level, an insurance policy protects the buyer against financial loss arising from...
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...Keesha Coaxum Ashford University BUS650: Managerial Finance Instructor Cain December 3, 2012 In this case we have four options on when to harvest next; 40, 45, 50, 55 years to see which would be the most profitable. In order to do this I will calculate the NPV of each harvest since that is the most accurate form of cost analysis (1). 40 year Harvest Revenue $39,800,250 Tractor cost 7,200,000 Road 2,700,000 Sale preparation & admin 945,000 Excavator piling 1,200,000 Broadcast burning 2,287,500 Site preparation 1,162,500 Planting costs 1,800,000 EBIT $22,505,250 Taxes 7,876,838 Net income (OCF) $14,628,413 Present Value of first harvest PV = $14,628,413/(1 + .0608)20 PV= $4,496,956 40 year interest rate 40-year project interest rate = [(1 + .0608)40] – 1 40-year project interest rate = 958.17% 40 year interest rate for Conservation fund 40-year conservation interest rate = [(1 + .0659)40] – 1 40-year conservation interest rate = 1,183.87% Present Value of thinning PV= $9,000,000/9.8517 PV= $939,286.45 Operating cash flow for 40 year harvest: $14,482,163 PV= [($14,628,413/9.5817)] / (1 + .0608)20 PV = $469,325.52 Present Value of Conservation PV = –$162,500 –$162,500/11.8387 PV= –$176.226.22 Value of Conservation today ...
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... Here are the figures: Total Number of acres 7500 Inflation rate 3.7% Nominal required return 10% Current logging cost per MBF $160.00 Road construction cost per MBF $60.00 Sales and administrative costs per MBF $21.00 Excavator piling per acre $160.00 Broadcast burning per acre $305.00 Site preparation per acre $155.00 Planting costs per acre $240.00 Conservation contribution today $250,000.00 Conservation contribution growth rate 3.2% The total MBF (thousands of dollars per board feet) is established by multiplying the amount per acre by the total acres at the same time as factoring in the 5% loss of timber due to defects and breakage. According to the textbook, managers use the scenario analysis which is a variant of sensitivity, to minimize this problem. Simply put, this approach examines a number of different likely scenarios, where each scenario involves a confluence of factors (Ross, et, al. 2011). Moreover, scenario allows you to incorporate many different variables at a time while the sensitivity analysis can only incorporate one variable cost at a time. After calculating the amount of MBF per percentage, you find the total price of each by multiplying it by the price per MBF making sure to factor in the yearly inflation rate. The revenue at the time of logging is explained by working out the total MBF by the total price. To calculate the revenue at the same time as the planting costs would need to have time that can be...
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...traditionally used to construct various living facilities and tools. The high strength with respect to its weight is derived from fibers longitudinally aligned in its body. Therefore, bamboo fibers are often called ‘natural glass fiber’. To practically apply the benefit of bamboo fibers, it is necessary to develop a process to fabricate bamboo composites as well as to extract qualitatively controlled fibers from bamboo trees. However, it is difficult to extract bamboo fibers having its superior mechanical properties. The bamboo fiber is often brittle compared with other natural fibers, because the fibers are covered with lignin. Objectives 1. The biodegradable and environmental friendly made using by micro/nano-sized bamboo fibrils (MBF) and a modified soy protein resin. 2. This research has been done on the applications of bamboo fibers in fiber reinforced polymer materials. It could improve the mechanical properties of polymer materials. 3.. The development of composites for ecological purposes (Eco-composites) using bamboo fibers and their basic mechanical properties. 4....
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... 56 Impact on children, Impact on families 7. Impact on communities, society and local institutions 60 Community attitudes to girls and education, child protection, Commune Councils, CEFAC/CWCCs 8. Capacity building, Cost effectiveness, Advocacy, Accountability/feedback, Sustainability 65 9. Findings and recommendations 73 Interviews and observations conducted 81 References 83 Attachments Attachment 1 Attachment 2 Attachment 3 Attachment 4 Attachment 5 Attachment 6 85 Terms of Reference for the Evaluation OPTIONS Prey Veng Working Groups (DME Framework) Implementation through partnership with community and government structures Consultations, reflections, accountability and feedback MBF Evaluation - extracts Evaluation team members 2 85 90 91 92...
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...for sale. The company was founded 70 years ago by Pete Bunyan. The current CEO is Paula Bunyan, the granddaughter of the founder. The company is currently evaluating a 7,500-acre forest it owns in Oregon. Paula has asked Steve Boles, the company’s finance officer, to evaluate the project. Paula’s concern is when the company should harvest the timber. Lumber is sold by the company for its “pond value.” Pond value is the amount a mill will pay for a log delivered to the mill location. The price paid for logs delivered to a mill is quoted in dollars per thousands of board feet (MBF), and the price depends on the grade of the logs. The forest Bunyan Lumber is evaluating was planted by the company 20 years ago and is made up entirely of Douglas fir trees. The table below shows the current price per MBF for the three grades of timber the company feels will come from the stand: TIMBER GRADE PRICE PER MBF 1P $575 2P $555 3P $530 Steve believes that the pond value of lumber will increase at the inflation rate. The company is planning to thin the forest today, and it expects to realize a positive cash flow of $450 per acre from thinning. The thinning is done to increase the growth rate of the remaining trees, and it is always done 20 years following a planting. The major decision the company faces is when to log the forest. When the company logs the for- est, it will immediately replant saplings, which will allow for a future harvest. The longer the forest is allowed to...
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...FINA 461 Section 1 | “Tree Values” Case Report | Huong Nguyen | 10/7/2010 | Section 1 – Executive Summary This report analyzes the case “Tree Values” to find an optimal way for Mr. Smith to manage his forestland and harvest the crop trees. The fundamental idea in this report is based on the concept of present value. A number of options are analyzed and the one with highest present value of pay off is considered. Questions 9, 10, and 11 give Mr. Smith 3 options: * Option 1: Harvest all crop trees now and receive $8,160 * Option 2: Let the forest grow without thinning, then harvest all crop trees 60 years from now and receive $537,962.01 at harvesting, equivalent to $28,800.08 now * Option 3: Thin and manage the forest, then harvest all crop trees 50 years from now and receive $670,033.56 at harvesting, equivalent to $58,429.42 now Based on the present value of the money received at harvesting, it is highly recommended that Mr. Smith should choose option 3. Furthermore, provided Mr. Smith decides to thin and manage his forest, in case he needs money soon to use for other purposes, he can harvest all of his crop trees at the 40th year to receive $410,608.68 at harvesting, equivalent to $58,325.19 at present, instead of waiting for 10 more years. This is because the present value of money received at the 40th year is just a little ($104.23) less than that of money received at the 50th year. Section 2 – Analysis Question 1 In order to choose the best offer...
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...excel at your company. I ask that you consider me for the Rotational Development Program, Credit Track at Northern Trust Corporation Analytical Ability: This past summer as an intern for Mercedes Benz Financial Services I built upon my already strong analytical skills. I had the opportunity to strengthen my knowledge of many project management software such as SQL, Sharepoint, ALM, Clarity, and ALFA. My direct role was to understand many different branches of the company and the exact work they do day to day. This way I could configure these employees in MBFS’ Contract Management System to be able to successfully complete the work needed. I also made sure the system was set up correctly to pass audit checks. MBFS having trusted and believed in my abilities, I soon had the same levels of authority of many of my direct supervisors. Excelling in this role allowed me to quickly update many new hires and transfers. My time at MBFS greatly helped them move into phase 2 of the company wide Nexus project. Leadership Ability and Communication Skills: My leadership and people skills have been greatly tested through my work and school experiences. Having traveled to Shenzhen, China and working for an oil and gas...
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...Professional Practice Reviewer ARCHITECT’S NATIONAL CODE THE ARCHITECT’S CODE OF ETHICS “GISRIP”, “BBCC” G-eneral Objectives B-usiness I-deals B-ehavior S-uccess C-riticism R-emuneration C-reative Endeavor I-nterest of the Client P-rofessional Prerogative SPECTRUM OF THE ARCHITECTS SERVICES The Spectrum of the Architect’s Services UAP Doc 201 Pre-Design Services “EPASSSSP” - NON CREATIVE – no design and construction 1. E-conomic Feasibility Studies 2. P-roject Financing 3. A-rchitectural Programming 4. S-ite Selection and Analysis* 5. S-ite Utilization and Land-Use Studies* 6. S-pace/Management Studies 7. P-romotional Services * Must be EnP, Environmental Planner MDPE – compensation method Methods of Compensation 1. Percentage of Construction 2. Multiple Direct Personnel Expense MDPE Architect = NTRMf Consultant = NTRMf Staff = NTRMf ------------------------------ E = Direct Cost E + MP + RE = Project Cost; where MP (Marginal Cost = 30%), RE (Reimbursable Expense) Project Cost + AE = Professional Fee: where AE = Architect & Engineer Fee N – T – R – Mf – Min. Fee = 2.0 – 2.5 as Multiplier 3. Lump...
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...Creative Technology Department : Course Name : Commence Date: Submission Date: Lead Lecturer: E-mail : Centre for Post Graduate Studies MBA 10 July 2013 24 July 2013 Theang Kok Foo kftheang@yahoo.com Individual Assignment 1 @20% Learning Outcome (LO) Mapping Task LO1 Analyse and interpret financial and managerial report for decision making. #1 #2 #3 Bloom’s Taxonomy LO2 Understand the basic concepts used in the preparation of financial statements. Critically assess the information relayed by financial reporting. Use financial information for financial and corporate strategy purposes. #4 Cognitive domain: Evaluation [High Order of Thinking Skills] Affective domain: Characterisation LO3 #5 #6 LO4 #5 #6 MBF 1213 Managerial Accounting – MBA Major Module July/August 2013 Assignment 1 1 CENTRE FOR POST GRADUATE STUDIES YOUR TASK: Limkokwing University of Creative Technology CASE STUDY: Cost Behaviour and Cost Volume Profit Analysis 1. Using the High-Low method to estimate the per-unit variable costs and total fixed costs. 2. Using the single product setting of the Cost-Volume-Analysis (CVP) to calculate the break-even point. 3. Use CVP analysis to calculate the break-even point. 4. Prepare an income statement for the company. 5. Calculate the company’s margin of safety 6. Calculation of product units to be sold for a target profit after cost increased INSTRUCTION TO PAIR ASSIGNMENT • This assignment, which carries 20 % of the total marks...
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...MOI UNIVERSITY DEPARTMENT OF BANKING AND FINANCE MBF 815: TERM PAPER TOPIC RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND CAPITAL FLIGHT IN KENYA (1970-2008) BY WILSON ODHIAMBO MU/MBF/015/12 GRACE NJOROGE MU/MBF/012/12 ALICE MAINA MU/MBF/041/12 LECTURER DR. NYAMONGO This research paper is submitted in partial fulfilment of the award of masters degree of Banking and Finance, Moi University OUTLINE 1. ABSTRACT……………………………………………………………………………..3 2. INTRODUCTION………………………………………………………………………4 i) BACKGROUND OF STUDY…………………………………………………..4 3. PROBLEM STATEMENT..………………………………………………..…………...5 4. OBJECTIVE OF STUDY…...…………………………………………….………..…..6 5. HYPOTHESIS TESTED……………………………………………………………….6 6. LITERATURE REVIEW………………………………………………………………7 7. RESEARCH METHODOLOGY…………..…………………………………………..8 8. EMPERICAL RESULTS……………………………………………………………....9 9. CONCLUSION AND RECOMMENDATIONS….………………..………………...12 10. BIBLOGRAPHY……………………………………………………………….…….13 11. APPENDIX…………………………………………………………………….……..14 ABSTRACT In this paper we investigate the role of Foreign Direct Investment on Capital Flight. We use data from the World Bank on African Development indicators; Kenya 1970:2008. We use econometric technique in our analysis. Our literature survey reveal that key factors that explain capital flight are; net foreign direct investment, current account deficit, change in official reserve, and external debt. We expect our...
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...A life in debt Imagine this, a fresh graduate, still quite warm from wearing that thick convocation robe and a suit in the middle of the tropical sun heat, entering the “real world” with a debt of at least RM20k to 40k, that is if he is from a government university. Chances are if he is a graduate from a private college or a private university (MMU, UTP, UNITEN) it would probably be above RM50k, usually in the form of the infamous acronym PTPTN (Perbadanan Tabung Pendidikan Tinggi Nasional). While some lucky ones may get a scholarship from either the government, private insititutions or from MBF (Mak Bapak Finance), the majority would take a loan to fund their degree in the hope that they may secure a good job in the future, get a decent wage, pay off the debt and, God willing, maybe settle down after a few years. Spending and lifestyle A graduate would want a car, or at least at some point would like to own one. Of course, he could always resort to owning a motorcycle or simply use public transportation but judging by the death rate of motorcyclists and the weather here, eventually one would dream of owning a car. Let’s face it, we’re not Japan yet, we are still an automobile nation. So how does owning a car get into the equation? Consider this, a graduate buys a standard, fuel-saving, comfortable Malaysian car, say a MyVi. A MyVi in the peninsula costs around 38k to 40k, so our graduate would then take a car loan, say a nine-year plan to buy his/her first car. Now, our...
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...of the trees, and the expected grade of the logs improves over time. Benefits to waiting to harvest the forest are: increased amount of time to grow, increased amount of time to improve the expected timber grade of the trees, and the value of the lumber is expected to increase with the rate of inflation which is estimated to be 3.7%. Disadvantages to waiting to harvest the forest include: costs increase at the rate of inflation, the clear-cut harvest contribution increases 3.2% annually, and most importantly the time value of money. For the following, please refer to the attached spreadsheet, Bunyan Lumber, LLC.xls. • Figures 1 and 2 include information provided from Bunyan Lumber, LLC • Figure 3 shows the amount of MBF per acre per grade. This can be calculated using the information provided in Figure 2. For example, the amount of 1P lumber we can expect 30 years from today is 9.4MBF per acre x 17%. Cell B13 x Cell C 13 provides this answer. • Figure 4 provides the value of the expected lumber in each year. This is found using the answers from Figure 3 multiplied by information provided from the text shown in figure 1. • Figure 5 adjusts our expected value of the proceeds for the...
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...NATIONAL OPEN UNIVERSITY OF NIGERIA COURSE CODE: MPA 728 COURSE TITLE: PUBLIC FINANCIAL MANAGEMENT MPA 728 COURSE GUIDE ii MPA 728 PUBLIC FINANCIAL MANAGEMENT Course Team Mr. E. U. Abianga ( Developer/ Writer) - NOUN Dr. Bonaventure Nkup Haruna ( Editor ) - UNIJOS Dr. Dimis I. Mai - Lafia (Programme Leader) - NOUN Mr. E. U. Abianga (Coordinator) - NOUN NATIONAL OPEN UNIVERSITY OF NIGERIA COURSE GUIDE MPA728 PUBLIC FINANCIAL MANAGEMENT 97 Source: Koleade Oshisami (1992) quoted in Ola and Offiong (2008). Government Accounting and Financial Control Ibadan, Nigeria: Spectrum Books Limited, p. 55. Rolling Plan in Nigeria’s Planning and Budgeting System Owing to poor achievement of past eco nomic plans and poor budgetary implementation in Nigeria, the military administration in 1990, introduced the idea of a rolling plan based on three year perspective in order to address the planning and budgetary predicaments experienced in the past. The a im of this planning was to make provision for a long term vision of the economy taking into consideration the goals of socio - economic development for the distant future of 5, 10, 15, 20, 25 or 30 years. This aimed at setting long term targets and objectiv es of economic development. The strategic plan is also aimed at addressing three basic issues of capital growth, technological progress and population growth. This will serve as a background when preparing a medium or short term ...
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...* Budget making process. Midterm budget framework. Budget Defined * A budget (from old French bougette, purse) is a financial plan and a list of all planned expenses and revenues. * A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. * The two basic elements: Revenues and Expenses. * Revenues are derived primarily from taxes and non-tax revenue. * Government expenses include spending on current goods and services, which economists call government consumption ; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits, Social Safety nets Basis of Budget * Budgets have an economic, political and technical basis. * Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. * They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. * The technical element is the forecast of the likely levels of revenues and expenses Budget Cycle * Budget Preparation: The first phase of the budget cycle involves preparation by the departments/agencies, ministries and finally ministry of Finance * Legislative Approval: Typically, the legislature has the power to approve or reject a proposed budget. They review it and vote. If approved, it moves...
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