...CONCORDIA UNIVERSITY John Molson School of Business - Department of Finance Portfolio Management - FINA 411/2/A, C Course Outline – Fall 2014 Instructor: Dr. Abraham I. Brodt Office: MB 12.215 Tel: 848-2424-2997 Fax: 848-4500 E-mail: ABrodt@jmsb.concordia.ca [SUBJECT: FINA 411 …….] Classes: FINA 411/2A Mondays 11:45 - 14:30 [MB1.437] FINA 411/2C Wednesdays 11:45 - 14:30 [MB5.255] Office Hours: Mondays and Wednesdays 15:30 -- 16:30 [Please e-mail me first to confirm] and by appointment COURSE DESCRIPTION: This course focuses on modern investment theory and its application to the management of entire portfolios. It will consist of lectures, discussions of cases and articles, and video presentations. Topics include: a) construction of optimal asset portfolios using techniques such as the single index model, b) extensions of the capital asset pricing model: theory and tests; example, the zero-beta model, c) criteria for evaluation of investment performance, d) active vs. passive portfolio management, e) investment strategies. The Formula Growth Investment Centre Lab will be used to demonstrate the use of specialized investment software. Computer exercises are assigned to illustrate the application of the theory. Prerequisites: FINA 380 or 385; FINA 390 or 395. LEARNING OBJECTIVES To understand the theory and practice of Portfolio Management for Individuals and Institutions, e.g. Endowments, Mutual Funds, Pension Plans, etc. ...
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...REPORT PREPARED BY: Benjamin AMAHORO REGISTRATION NUMBER: GSF 20103386 PLACED IN: FINA BANK LTD ACADEMIC YEAR: 2012-2013 INTERNSHIP PERIOD: FROM: 28TH JANUARY TO 28TH MARCH 2013 BACHELOR OF BUSINESS ADMINISTRATION IN: ACCOUNTING NAME OF ACADEMIC SUPERVISOR IN FIELD: DR IBRAHIM MUSOBO Acknowledgements I would like to sincerely thank the management and staff of FINA BANK Ltd for allowing me to do my internship within this organization. I am grateful to my internal supervisor, Service delivery manager who willingly accepted to supervise and support me on the course of the training. My deep thanks go to the administration of SFB and career center for providing us the necessary knowledge and tools that equipped us for the internship. I am also thankful to my beloved parents for the moral and financial supports. I am grateful to my brothers and sisters for spiritual, financial, or moral support they contributed during my studies. i Declaration I hereby declare that, except where otherwise indicated, this document is entirely my own work and has not been submitted in whole or in part to any other university. Name: ……………………………………………………………. Signature: ……………………………..: Date: …………………. ii CERTIFICATE I, Mr. Jean Pierre SINDIZERA, the Service Delivery Manager at FINA Bank Ltd, certify that this report is a genuine work of Benjamin AMAHORO who has carried out his internship in FINA Bank Ltd, for the award of Bachelor’s Degree in Business Administration in accounting...
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...Syllabus FINA 3320 Fall Semester 2012 Robert Puelz, Professor 390 Crow Building OFFICE PHONE & VOICE MAIL: 214-768-4156; FAX 214-768-4099 CLASSROOM : Georges Auditorium e-MAIL ADDRESS: mailto:rpuelz@mail.cox.smu.edu OFFICE HOURS: 1:00 p.m. to 2:00 p.m., Monday and Wednesday; and by appointment. HELP LABS: see “Lab and T.A.s schedule on our Blackboard site REQUIRED TEXTS: Ross, Westerfield and Jordan (RWJ), Fundamentals of Corporate Finance (Alternate Edition), 10/e , Note: Custom book based on RWJ edition 10/e available at SMU Bookstore only Malkiel, Burton G. (Malkiel), A Random Walk Down Wall Street, 2011, Norton Publishers. RECOMMENDED READING: Wall Street Journal and the business section of the Dallas Morning News. OTHER RESOURCES: The use of a business function or financial calculator is required. The Hewlett-Packard 10-B II and Texas Instruments BA II Plus are popular choices. The HP-12C is my personal choice mostly because it has stood the test of time. Beyond your operating manual, we will support each of these calculators if you have questions. CLASS ATTENDANCE AND WEBSITE: One of the best things about teaching and learning is the interaction between us. That can only be accomplished when you attend. I expect you to attend class and use a name tent. Also important to our class is our website. You’ll need your SMU i.d. for both your username...
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...FINA 6204 Problem Set 1 The purpose of the assignment is to review basic hypothesis testing and regression techniques. There is an appendix in your textbook, Appendix C: Using Excel to Conduct Analysis, which may help you with running regressions in Microsoft Excel. You may also wish to use a basic statistics text for guidance if needed. I have also provided you with a table with the t distribution. If you have an older version of EXCEL and have not previously loaded the Analysis ToolPak, go to TOOLS, ADD-INS, Analysis Tool Pak. This will load the regression software that you will need. Then go to TOOLS, DATA ANALYSIS, Regression. Now you are ready to run regressions in EXCEL. Alternatively, if you have the most recent version of EXCEL, go to HELP and enter Load the Analysis ToolPak. Excel HELP will explain how to load the software. Once you have loaded the software you find it in DATA, DATA ANALYSIS, Regression. Now you are ready to run regressions in EXCEL 1. Measuring Systematic Risk: Beta Coefficients The management of a publicly traded firm is interested in determining the firm’s cost of equity capital using the security market line (SML) version of the capital asset pricing model (CAPM). Management has measured the weekly returns for the market (S&P 500), its own stock, and the risk-free rate. The returns were annualized. The annualized percentage returns for each of the last 20 weeks are provided. 1a. See data in Excel file...
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...|Qatar University | |College of Business and Economics | |Course Syllabus - Undergraduate | |Course Name: Entrepreneurship & Small Business Management-14478 | |( Course No: MAGT 303 – L52) | |(FALL, 2012) | |(Web Site: qu.edu.qa ) | | | | |Department Information: |Instructor Information: | | |Instructor: Dr. Marios...
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...FINA 6204 Problem Set 1 The purpose of the assignment is to review basic hypothesis testing and regression techniques. There is an appendix in your textbook, Appendix C: Using Excel to Conduct Analysis, which may help you with running regressions in Microsoft Excel. You may also wish to use a basic statistics text for guidance if needed. I have also provided you with a table with the t distribution. If you have an older version of EXCEL and have not previously loaded the Analysis ToolPak, go to TOOLS, ADD-INS, Analysis Tool Pak. This will load the regression software that you will need. Then go to TOOLS, DATA ANALYSIS, Regression. Now you are ready to run regressions in EXCEL. Alternatively, if you have the most recent version of EXCEL, go to HELP and enter Load the Analysis ToolPak. Excel HELP will explain how to load the software. Once you have loaded the software you find it in DATA, DATA ANALYSIS, Regression. Now you are ready to run regressions in EXCEL 1. Measuring Systematic Risk: Beta Coefficients The management of a publicly traded firm is interested in determining the firm’s cost of equity capital using the security market line (SML) version of the capital asset pricing model (CAPM). Management has measured the weekly returns for the market (S&P 500), its own stock, and the risk-free rate. The returns were annualized. The annualized percentage returns for each of the last 20 weeks are provided. ...
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...10/04/2012 FINA 6273 Section 10 Table of Contents VALUATION OF ORRSTOWN BANK 4 EQUITY FORECAST 6 ORRSTOWN SEPTA ASSESSMENT 9 [This page intentionally left blank] VALUATION OF ORRSTOWN BANK To consider valuing any enterprise an analyst must make several assumptions based on their understanding of the firm. In considering the valuation of Orrstown Bank there are several difficult aspects to cover and consider. In this report, Orrstown bank is valuated in two ways. A valuation based on discounted cash flows, in this case Net Income. And a valuation based on market multiples. Both of these multipliers suffer in an examination of Orrstown and its unique problems. This will be covered in the conclusion. Valuation based on discounted Cash flows: This valuation is basically considering the future of the firm as a project that can be discounted back to the present using the standard NPV formula: NPV = ∑ CFn/(1+r)n Forecasted Net Income is considered the future cash flows, the period (n) is five years. As Orrstown is forecasted to go bankrupt in 2015 a longer time scale did not seem necessary. The chosen discount rate is the Weighted Average Cost of Capital (WACC). In calculating NPV the discount rate is essential. WACC is a standard in determining the cost of financing (debt and equity) future cash flows and appeared most appropriate in this case. The WACC for Orrstown bank is a paltry .92%. This number is markedly below the...
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...UNIVERSIDAD NACIONAL MAYOR DE SAN MARCOS FACULTAD DE FARMACIA Y BIOQUÍMICA UNIDAD DE POSTGRADO Determinación de los compuestos fenólicos presentes en el extracto metanólico de la pulpa del fruto Mauritia flexuosa L. ¨aguaje¨ procedente de TarapotoSan Martín y su efecto sobre el nivel de estradiol en ratas hembras jóvenes normales TESIS para optar al grado académico de Magíster en Recursos Vegetales y Terapéuticos AUTOR Carmen Cusco Vásquez ASESOR Pablo Enrique Bonilla Rivera Lima-Perú 2009 A Dios ya que sin el nada podemos hacer A mis padres Luis y María por brindarme su inmenso amor y apoyo incondicional en cada etapa de mi vida Al Dr. Pablo Enrique Bonilla Rivera por su apoyo y orientación en el desarrollo de este trabajo. A los docentes de Universidad Nacional Mayor de San Marcos por brindarme su enseñanza para culminar con éxito la meta trazada. Carmen Cusco Vásquez INDICE RESUMEN SUMMARY I. II. 2.1 2.2 2.3 2.4 III. 3.1 3.2 Introducción Generalidades Aspectos Botánicos de Mauritia flexuosa L. “Aguaje” Aspectos Químicos de compuestos fenólicos Menopausia Estrógenos Parte Experimental Materiales Metodología 1 3 3 5 16 19 22 22 22 23 24 3.2.1 Estudio Fitoquímico 3.2.2 Estudio Farmacológico Determinación del nivel estrogénico en muestras de sangre de ratas, hembras Holtzmann previamente inducidas con la ingestión del extracto metanólico de Mauritia flexuosa L. “Aguaje”. IV. V. VI. VII. Resultados Discusión Conclusión Referencias bibliográficas...
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...An Investigation into the Marketing Strategies used by Commercial Banks in Managing Service Breakdown among SME Customers. Some Experiences in Kenya By Anyim Kevin Ouma and Dr Justus M Munyoki Paper for presentation during the 1st AIBUMA Conference to be held in Nairobi from 25th to 27th August 2010 in Nairobi, Kenya ABSTRACT This study sought to establish the strategies used by ccommercial banks in Kenya in Managing Service Breakdown among SME Customers. The study focused on five commercial banks namely Barclays, Kenya Commercial Bank, Standard Chartered, Equity and Fina bank which currently offer services to SME customers. A self-administered open and closed ended questionnaire was utilized in collecting primary data from the field. Data collected was analyzed using descriptive statistics. The study found that lack of clear communication with customers, long procedures; intrusive documentation and lack of flexibility are some of the causes resulting in service breakdown. It also established that the main strategies used by banks to deal with services breakdown include; designing services to fit the needs of customers; ensuring that services are always oh high quality without compromise; putting relevant systems in place; having competent employees in place; on time delivery of services and ensuring that services are driven by customers to increase acceptance and satisfaction. Key words: Services Break down, strategies Introduction This...
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...ISSUES IN ACCOUNTING EDUCATION Vol. 22, No. 4 November 2007 pp. 685–708 China Eastern Airlines: People’s Republic of China Accounting Standards, International Financial Reporting Standards, or U.S. Generally Accepted Accounting Principles? John L. Haverty ABSTRACT: China Eastern Airlines, headquartered in the People’s Republic of China, has been listed and traded on the New York Stock Exchange since 1997. In its 2005 annual report, China Eastern Airlines presents two sets of financial statements: one prepared under People’s Republic of China accounting regulations, and a second set prepared under International Financial Reporting Standards. In addition, as a listed company on the New York Stock Exchange, China Eastern Airlines files Form 20-F with the United States Securities and Exchange Commission. This filing includes a limited reconciliation of net income and net assets from International Financial Reporting Standards to United States’ generally accepted accounting principles. Your job is to examine these financial statements, explore any differences noted between each of the financial statements and U.S. GAAP, and highlight some issues to be included in a financial analysis of China Eastern Airlines for possible inclusion in an investment portfolio. W INTRODUCTION alt Gregory is a junior portfolio analyst at Chartgood, a portfolio manager for several major mutual funds. Susan Bedell, the portfolio manager, just informed Walt that one of the funds she managed, the Global...
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...Krispy Kreme Case Study FINA 470-01 Strategic Financial Management Company Overview: Krispy Kreme is a retailer and wholesaler of “high quality doughnuts and packaged sweets” (2010 10-K report) as well as various beverages. Krispy Kreme consists of stores and franchises that include domestic and international franchises, company stores and the KK Supply Chain. Krispy Kreme is also the sole provider to all their stores and franchises of the ingredients and equipment needed for store operations via the KK Supply Chain. Notably, neither equipment nor ingredients can be purchased from any other vendor and thus the franchises/stores are completely dependent upon Krispy Kreme. Vernon Rudolph acquired the Krispy Kreme recipe from a New Orleans chef and moved to Nashville and opened his own doughnut shop in 1937. Initially selling to grocery stores, he ended up cutting a hole in the building to sell to passersby who inquired about buying hot donuts directly from the bakery. Mr. Rudolph patented Krispy Kreme in 1939. Family members joined the bakery to help Rudolph meet rising demand for his doughnuts. Rudolph invented and built all his donut making equipment. To date, the company still uses only company made equipment. Other stores started popping up around the south in the 1950s and 1960s as the company quickly expanded. Rudolph died in 1973 and as the company began to flounder, it was sold to Beatrice Foods in 1976. Original franchisees repurchased the company...
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...Un rel nited States. Berkshire Par B rtners, which had extensi h ive experienc investing i the ce in retail and manufac cturing sector was initia drawn to Carter’s bec rs, ally o cause of the s strong brand name ngth of the s the co ompany had developed during its 136 d 6-year history as well as for the stren y, s senior mana agement team (See Exhibit 1 for a profil of Berkshir m. t le re.) To investigate the option of a potential LBO, Berkshir assembled a five-memb team, to b led o t f L re d ber be by managing dire ectors Ross Jo ones and Bra adley Bloom and senior a associate Mich hael Ascione (See e. Exhib 2 for biogr bit raphical sketc ches.) The tea would hav less than e am ve eight weeks to move throu all o ugh the stages of a Gol ldman Sachs-led auction— —from initial r research and due diligenc to valuation and ce bid st trategy. In addition to running the auction and thereby serv ving as Carter agent, Go r’s oldman Sachs (GS) s would be offering “staple-on” financing. Under this arr d g rangement, th winning b he bidder would have d the op ption to finan the deal th nce hrough a prep packaged capi structure proposed by Goldman Sachs.1 ital Cart ter’s Ca arter’s was fo ounded in 18 in Needham, Massach 865 husetts. Over the course o 136 years i the of in highly competitive apparel industry, the company bec y e c came the lar rgest branded manufactur of d rer toddle and baby...
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...writing is OK when you’re writing to your friends, or when we’re having an informal conversation, but doesn’t belong in an academic paper that you submit for assessment. Use marketing language wherever you can – think in terms of the core concepts. Abbreviations are also inappropriate in a formal document: hasn’t, doesn’t, won’t, can’t, ad, advert, advt’g. Remember to give words their full spelling in formal papers such as this. If you have any lingering doubts about your writing style/standard of written English, please consult the Language and Learning Centre through the library, reachable at http://www.lib.monash.edu.au. This is a very detailed assignment and you should make sure you understand the material up to and including Week 6 in the textbook....
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...Cluster Analysis & Factor Analysis 325-711 Research Methods 2007 Lecturer: Jeromy Anglim “Of particular concern is the fairly routine use of a variation of exploratory factor analysis wherein the researcher uses principal components analysis (PCA), retains components with eigenvalues greater than 1 and uses varimax rotation, a bundle of procedures affectionately termed “Little Jiffy” …” Preacher, K. J., MacCallum, R. C. (2003). Repairing Tom Swift's Electric Factor Analysis Machine. Understanding Statistics, 2(1), 13-43. DECRIPTION: This session will first introduce students to factor analysis techniques including common factor analysis and principal components analysis. A factor analysis is a data reduction technique to summarize a number of original variables into a smaller set of composite dimensions, or factors. It is an important step in scale development and can be used to demonstrate construct validity of scale items. We will then move onto cluster analysis techniques. Cluster analysis groups individuals or objects into clusters so that objects in the same cluster are homogeneous and there is heterogeneity across clusters. This technique is often used to segment the data into similar, natural, groupings. For both analytical techniques, a focus will be on when to use the analytical technique, making reasoned decisions about options within each technique, and how to interpret the SPSS output. Slide 2 Overview • Factor Analysis & Principal Components Analysis • Cluster...
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...1.1 Introduction of the organization GREY ADVERTISING BANGLADESH LIMITED Grey Advertising Bangladesh Limited is one of the leading advertising agencies in Bangladesh. According to the AD age (An International advertising magazine) Grey is the third largest ad agency in Bangladesh in term of annual revenue. Grey Advertising is one of the newest ad agencies as well. Started only in 1996, Grey has been able to strengthen its market position strongly – thanks to its multinational experience and ‘Global’ approach to business. A Grey Global Group Inc, USA company, Grey has one of the most exquisite portfolios in the country. The major clients are British American Tobacco Bangladesh (BAT), Procter & Gamble (P&G), Glaxo SmithKline (GSK) Vaccination, GSK Consumer Health Care, Philips Lighting, Lafarge Cement, City Cell Digital, Novartis, Dhaka Bank, Gallery Apex, International School Dhaka, Pacific motors, Shark Energy Drink, Igloo, Coca-Cola, Siemens, Aarong etc. It is worth mentioning that BAT, P&G, and GSK are all global partners of GREY WORLDWIDE. The only multinational company in the country, Grey has proven its worth over past few years. From establishing a new brand like Virgin drinks or CityCell Digital to continuing the Global Corporate image of BAT, Grey is termed as the most respected ad agency in Bangladesh. Managed by the professionals having proven track record, Grey maintains one of the smallest workforces to run its multi-million taka operations. The creativity...
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