AUSTRALIAN RESOURCE DEVELOPMENT - CAN FINANCIAL REQUIREMENTS BE SATISFIED?

1982 ◽  
Vol 22 (1) ◽  
pp. 159
Author(s):  
D. R. P. Grehan
Keyword(s):  
Financial Markets ◽  
Foreign Investment ◽  
Resource Development ◽  
Foreign Ownership ◽  
Open Market ◽  
Project Development ◽  
Foreign Partner ◽  
Self Sufficiency ◽  
Tangible Support ◽  
To Receive

While it is of the utmost importance to maintain Australia's existing level of self-sufficiency in the production of oil and its related products, this industry receives very little tangible support for its endeavours in this regard. When the participants in the industry require finance, particularly for project development, they find that they have to compete on the open market for the necessary funds. In the coming decade there will be very heavy demands placed on the financial markets in this country, particularly from the minerals area where huge amounts of capital will be required. Additionally, we can expect certain sectors of the community to receive favoured treatment at the expense of the more efficient sectors.During the mineral boom of the early 70s the percentage of foreign ownership of Australian resources increased. During the 80s it appears that the reverse may be the case, as greater Australian participation in the development of this country's resources may be required. Accordingly it may be more difficult to have the Foreign Investment Review Board approve an application from a possible foreign partner who is willing to inject capital into a project.These possible restrictions on fund raisings may result in delays for many projects and could well cause the cancellation of others which are now marginally feasible.

scholarly journals The Effect of FOMC Votes on Financial Markets

2019 ◽  
Vol 101 (5) ◽  
pp. 921-932
Author(s):  
Carlos Madeira ◽  
João Madeira
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Financial Markets ◽  
Interest Rates ◽  
Stock Prices ◽  
Open Market ◽  
Federal Open Market Committee ◽  
2008 Financial Crisis ◽  
Treasury Securities ◽  
Stock Market Reaction

This paper shows that since votes of members of the Federal Open Market Committee have been included in press statements, stock prices increase after the announcement when votes are unanimous but fall when dissent (which typically is due to preference for higher interest rates) occurs. This pattern started prior to the 2007–2008 financial crisis. The differences in stock market reaction between unanimity and dissent remain, even controlling for the stance of monetary policy and consecutive dissent. Statement semantics also do not seem to explain the documented effect. We find no differences between unanimity and dissent with respect to impact on market risk and Treasury securities.

The Difficulties of Teaching IFRS in Russia

2012 ◽  
Vol 28 (2) ◽  
pp. 309-319 ◽  
Author(s):  
Anna Vysotskaya ◽  
Maria Prokofieva
Keyword(s):  
Financial Reporting ◽  
Foreign Investment ◽  
Accounting Education ◽  
Accounting System ◽  
Open Market ◽  
Private Business ◽  
Financial Reporting Standards ◽  
Existing Problems ◽  
Russian Economy ◽  
Business Entities

ABSTRACT: In recent years Russia has undergone radical changes in all spheres of life, prompted by the transition from a centrally planned economy to an open market-based economy. Dramatic changes such as privatization, the development of private business entities, and foreign investment in the Russian economy have brought changes in the accounting field, including those arising from a decision to adopt the International Financial Reporting Standards (IFRS). While Russia has not yet implemented IFRS in full for all types of businesses, it has made considerable steps over the years to introduce IFRS into its accounting system. From 2012, Russia is adopting IFRS fully for publicly listed companies. This paper provides an overview of the changes in accounting education that have ensued from the decision to adopt IFRS, including the educational reforms that have taken place. The paper reviews these changes from a historical perspective and investigates existing problems caused by the transition.

Modeling Country-Specific Risks in Foreign investment Using an Expert-Driven System

2003 ◽  
Vol 4 (1) ◽  
pp. 105-123
Author(s):  
Aboubaker Seddik Meziani
Keyword(s):  
Financial Markets ◽  
Foreign Investment ◽  
Capital Controls ◽  
Country Risk ◽  
Analytic Hierarchy ◽  
Breach Of Contract ◽  
National Market ◽  
Driven System ◽  
Hierarchy Process ◽  
Country Specific

Assuming that regulatory obstacles such as capital controls, breach of contract, and other market imperfections are still predominant even in today’s increasingly integrated financial markets, this study demonstrates application of the analytic hierarchy process (AHP) to effectively assess country-specific risks to cross-border investments. The AHP is an expert-driven system that has been applied to numerous fields but has yet to be applied to the assessment and management of country-risk exposure. This study shows that it is also capable of selecting an optimal host country (OHC) for a foreign investment, herein a national market where country-specific risks are least likely to adversely affect its return.

A Practical Approach to the New German Foreign Investment Regime – Lessons to be Learned from Merger Control

2010 ◽  
Vol 11 (2) ◽  
pp. 260-274 ◽  
Author(s):  
Florian Stork
Keyword(s):  
Public Policy ◽  
Foreign Investment ◽  
Review Process ◽  
Practical Approach ◽  
Critical Infrastructures ◽  
Basic Principles ◽  
Foreign Investors ◽  
Safe Harbour ◽  
Scope Of Application ◽  
To Receive

The author presents in this paper the new German foreign investment regime entered into force in the spring of 2009. He sets out the basic principles of the regime as well as its enforcement in practice. According to the new German foreign investment regime, the German Federal Ministry of Economics and Technology (BMWi) may examine and prohibit purchases of German companies by foreign investors if they pose a severe threat to public policy or security. Certain transactions, however, fall within the “safe harbour” or are otherwise exempted so that the BMWi has no right of interference. The author presents several exemptions from the scope of application of the regime, which can be either identified from the wording of the law by reverse argument or derived from the spirit and purpose of the new foreign investment regime. Furthermore, by presenting the concept of so called “critical infrastructures”, the paper gives valuable guidance to practitioners on what the German administration might consider relevant for public policy or security. The last part of the paper summarizes the filing and the review process. The parties may, in order to receive clearance for their transaction, notify their transactions to the BMWi and receive a certificate of non-objection. While, this notification is wholly voluntary, parties who do not apply for clearance bear the risk that their transactions are blocked or unwound if the BMWi decides to investigate the transaction within three months from signing ex officio.

THE FUNDAMENTAL THEOREMS OF ASSET PRICING AND THE CLOSED-END FUND PUZZLE

2019 ◽  
Vol 22 (05) ◽  
pp. 1950025
Author(s):  
GABRIEL FRAHM ◽  
ALEXANDER JONEN ◽  
RAINER SCHÜSSLER
Keyword(s):  
Financial Markets ◽  
Initial Public Offering ◽  
Dominant Strategy ◽  
Fund Manager ◽  
Cross Sectional ◽  
Arbitrage Opportunity ◽  
Public Offering ◽  
Abnormal Profits ◽  
Fundamental Theorems ◽  
To Receive

We propose a solution to the closed-end fund puzzle in financial markets without a free lunch with vanishing risk. Our results are consistent with both the time-series and the cross-sectional aspect of the closed-end fund puzzle. It turns out that a closed-end fund cannot exist if the fund manager is supposed to receive a fee although he is not able to find mispriced assets in the market. By contrast, a premium can typically be observed at the initial public offering because the fund manager has access to information that enables him to create a dominant strategy. As soon as this weak arbitrage opportunity evaporates, a premium can no longer occur. The reason why a premium quickly turns into a discount might be that the fund manager stops applying a superior trading strategy at some point in time. Another possibility is that abnormal profits are transient in a competitive financial market. In any case, when the fund manager is no longer willing or able to maintain a superior strategy, the fund must trade at a discount in order to compensate for his management fee.

A Qatar solution is unlikely at the Gulf summit

2017 ◽  
Keyword(s):  
Saudi Arabia ◽  
Financial Markets ◽  
United Arab Emirates ◽  
Stock Exchange ◽  
Content Type ◽  
Face To Face ◽  
Self Sufficiency

Significance As the primary mediator in the dispute between Qatar and three of its GCC neighbours, Kuwait is seeking the first face-to-face meeting of the countries’ leaders since Saudi Arabia, the United Arab Emirates (UAE) and Bahrain launched their boycott of Qatar in June. Since then, both sides’ positions have become more entrenched. Impacts Whatever happens with the boycott, Qatar will focus on developing greater self-sufficiency and security through direct imports. A breakthrough deal would likely boost Gulf financial markets, particularly Qatar’s stock exchange, which is at a six-year low. The outcome of the summit will influence wider regional geopolitics, including Gulf rivalry with Iran in Yemen, Iraq and Lebanon.

US rates rift will fuel financial market volatility

2019 ◽  
Keyword(s):  
Financial Markets ◽  
Bond Markets ◽  
Open Market ◽  
Federal Open Market Committee ◽  
Content Type ◽  
Us Economy ◽  
China Trade ◽  
The Us ◽  
Investment Grade ◽  
Global Growth

Subject Financial markets outlook. Significance The decision of the US Federal Reserve (Fed) on September 18 to lower its main policy rate while not assuring investors that it will continue to loosen monetary policy is exposing divisions within the Federal Open Market Committee (FOMC), and between the Fed and bond markets. The ‘hawkish cut’ came with three dissensions, reflecting the disconnect between the resilient US economy and the deterioration in the global growth outlook. Impacts Cautious investor optimism that a US-China trade truce will be struck is fuelling US equity gains, but a substantial deal seems unlikely. The Brent oil price fell back within days following the drone attacks on Saudi Arabian oil facilities, but more short spikes are possible. Almost one-third of investment-grade government and corporate bonds are negative yielding; those with zero lifetime coupon are riskiest.

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