Rebsamen investment fund integration in finance education

2019 ◽  
Vol 46 (4) ◽  
pp. 565-575
Author(s):  
Samar Ashour ◽  
Craig G. Rennie ◽  
Sergio Santamaria
Keyword(s):  
Lessons Learned ◽  
Theory And Practice ◽  
Investment Fund ◽  
Professional Certification ◽  
Investment Funds ◽  
Content Type ◽  
Academic Units ◽  
College Of Business ◽  
Student Finance ◽  
Finance Education

Purpose The purpose of this paper is to describe lessons learned from integrating student-managed investment funds (SMIFs) in finance education systems based on the case of the Raymond Rebsamen Investment Fund at the Sam M. Walton College of Business, University of Arkansas. Design/methodology/approach The paper has three main parts. First, it describes how the Rebsamen Fund operates as an integral part of undergraduate and graduate finance education at the Walton College. Second, it explains how the Fund spawned creation of sister funds, an institute, a 62-seat trading center, and coordinates with other agencies and stakeholders. Third, it lists strengths, weaknesses, opportunities and threats facing future SMIF integration into finance education. Findings The use of innovative experiential learning solutions like SMIFs bridging theory and practice can be enhanced by integrating them into effective systems of finance education. Practical implications Lessons learned include benefits of SMIF management by class, licensing and professional certification, trading centers, use of SMIF finances to support other components of education, proliferation of SMIFs, SMIF stimulation of academic units like centers/institutes, SMIF facilitation of collaboration, importance of tying SMIFs to student finance clubs, coordination of industry speaker visits between SMIF classes and clubs, and use of SMIFs in addressing cutting-edge challenges. Originality/value This paper discusses how SMIFs can be integrated in finance education.

Hong Kong Securities and Futures Commission (SFC) highlights operating, control and compliance deficiencies in asset management industry

2018 ◽  
Vol 19 (1) ◽  
pp. 63-68 ◽  
Author(s):  
Anne-Marie Godfrey
Keyword(s):  
Hong Kong ◽  
Asset Management ◽  
Service Providers ◽  
Governance Structures ◽  
Investment Fund ◽  
Extensive Experience ◽  
Investment Funds ◽  
Content Type ◽  
Best Execution ◽  
Asset Managers

Purpose To examine the nine common areas of non-compliance in managing investment funds and discretionary accounts, detailed in a Hong Kong Securities and Futures Commission (SFC) circular dated September 15, 2017, directed at SFC-licensed asset managers. Design/methodology/approach Discusses a July 2017 circular indicating the SFC’s general concerns and analyzing the following nine common areas of non-compliance cited in the September 15, 2017 circular: (1) inappropriate receipt of cash rebates giving rise to apparent conflicts of interests, (2) failure to follow investment-suitability and discretionary account mandates during solicitation, (3) failure to implement liquidity-risk management processes, (4) deficiencies in governance structures and fair-valuation procedures, (5) deficiencies in systems for ensuring best execution, (6) failure to safeguard fair order allocation, (7) inadequate controls for protection of client assets, (8) inadequate systems to comply with investment restrictions, and (9) inadequate safeguards to address market misconduct risk. Findings The nine examples of non-compliance provide a useful insight into key “problem areas” indicated to currently be of particular concern to the SFC. Practical implications All SFC-licensed asset managers would be well advised to revisit their internal governance structures and operational policies and procedures in order to ensure that they are compliant with applicable standards and requirements. Originality/value Practical guidance from a lawyer with extensive experience advising investment managers and advisers, fund administrators, trustees and other fund service providers on investment fund-related issues.

Guernsey as an investment funds domicile: benefits and regulations

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
By Annette Alexander ◽  
Christopher Andersen ◽  
Andrew Boyce ◽  
Tom Carey ◽  
David Crosland ◽  
...  
Keyword(s):  
Design Methodology ◽  
Service Providers ◽  
Regulatory Regime ◽  
Investment Fund ◽  
Investment Funds ◽  
Content Type ◽  
Legal Structure

Purpose To explain the benefits and the regulations pertaining to Guernsey as a domicile for investment funds. Design/Methodology/Approach Explains the benefits of Guernsey as a fund domicile, the regulatory regime, and the types of fund vehicles used in Guernsey, registered and authorized. Findings Guernsey is one of the world’s largest offshore finance centers, with a thriving funds industry. The benefits of Guernsey as a fund domicile are substantial, including a proportionate, flexible and competitive funds regulatory regime, a stable political and legal structure, and a wealth of first-class fund service providers. Originality/Value Expert guidance from experienced investment-fund lawyers.

The possible inclusion of legal provisions in Islamic banking and finance

2018 ◽  
Vol 60 (2) ◽  
pp. 662-680 ◽  
Author(s):  
Carino Modan ◽  
Rusni Hassan
Keyword(s):  
Task Force ◽  
Regulatory Framework ◽  
Lessons Learned ◽  
Islamic Banking ◽  
Investment Funds ◽  
Content Type ◽  
Banking And Finance ◽  
Legal Provisions ◽  
Definition Of ◽  
Practical Implications

Purpose This paper aims to thoroughly examine the extent to which the current legal and regulatory framework is inclusive towards Islamic banking and finance (IBF) practices in the attempts to introduce IBF as a significant component in the Mozambique’s financial system. This is achieved by providing a critical review on the Mozambican current legal and regulatory framework including the court and arbitration system, as well as the country’s financial institutions law and regulations. Design/methodology/approach The methodology used in this study is the qualitative approach. The analysis made is based on descriptive and analytical approach whereby the study examined and critically analysed the banking regulations in Mozambique with the purpose of finding the legal gap in the existing legal and regulatory framework that allows the introduction of IBF in the country. Findings This study finds that whilst some legal provisions in the current legal and regulatory framework are conflicting with the Sharï’ah principles such as the definition of loans and the concept of interest, there is also a certain number of enabling features that can be immediately explored, including deposits (with no interest), leasing operations, investment funds or venture capital. Research limitations/implications At present, to the best of the authors’ knowledge, this is the first attempt ever made to assess the compatibility of the existing Mozambican commercial laws with the Islamic principles hence identifying the challenges that might arise due to the implementation of IBF practices in Mozambique. Practical implications This paper has several practical implications in the sense that it helps the financial market authorities in Mozambique to be able to foresee possible inclusion of provisions on Islamic transactions in the country’s existing financial regulations. Social implications The contributions of this paper lie in the valuable recommendations made on the insertion of Islamic principles in the current regulatory framework as well as assisting in overcoming some of the conflicting aspects in medium to long term. Mozambique should explore and benefit from the experience and lessons learned by the neighbouring countries that have successfully adopted the IBF practice. It is recommended that the Central Bank should establish a “task force team”, comprising of multi-skilled professionals and experts in Islamic finance from various internal areas ranging from licensing to supervision together with Sharï’ah scholars and representatives from the Muslim Community, to study the required process for adoption of IBF in the country. Originality/value There is no other study on IBF in Mozambique, particularly on legal and regulatory aspects.

Diversification effect of ship investment funds in South Korea

2019 ◽  
Vol 23 (1) ◽  
pp. 62-74 ◽  
Author(s):  
Jae-Boong Lee ◽  
Su-Han Woo ◽  
Jeong Seok Song ◽  
Byeongchan Seong ◽  
Keun-Sik Park
Keyword(s):  
Stock Prices ◽  
Correlation Coefficients ◽  
Investment Fund ◽  
Short Term ◽  
Investment Funds ◽  
Policy Makers ◽  
Content Type ◽  
Cointegration Tests ◽  
The Government

Purpose The purpose of this paper is to examine the diversification effect of the Korean Ship Investment Fund (KSF) under Markowitz portfolio theory by analyzing short-term and long-term relationships with stocks and bonds. Design/methodology/approach For this purpose, unit root, correlation and cointegration tests are performed. Monthly data from 2004 to 2015 for stocks, bonds and KSFs are obtained for this study. Findings The correlation coefficients indicate that KSFs are uncorrelated with stocks and negatively correlated with bonds, and no long-term equilibrium relationships exist with all three variables by the Johansen and Engle-Granger cointegration tests. Research limitations/implications This paper makes contribution to the literature as follows: first, whereas the previous literature investigated diversification effect of ship investment using freight indices or freight rates which are not able to represent returns from ship investment, this study is the first study to use actual stock prices of the KSFs to the authors’ best knowledge; and second, diversification effect of ship investment represented by KSFs is empirically verified in the both short term and long term. Practical implications Policy-makers and managers of shipping companies can have sound ground that the KSFs are alternative and attractive assets to investors. It is also shown that the KSFs have potential to improve risk and return structure of investors on their own regardless of existence of incentives. Therefore, decisions of policy-makers can be made free from expectations for stronger incentives provided by the government. In addition, those countries that do not have such a ship investment platform may consider introducing a similar ship investment fund in order to revitalize the capital markets of the country. Originality/value This study holds its significance in investigating diversification properties of the KSFs for the first time in Korea since the KSFs were introduced.

Model (my) neighbourhood – a bottom-up collective approach for crime-prevention in Portugal and Lithuania

2016 ◽  
Vol 9 (2) ◽  
pp. 166-190 ◽  
Author(s):  
Miguel Saraiva ◽  
Irina Matijosaitiene ◽  
Mónica Diniz ◽  
Vilius Velicka
Keyword(s):  
Crime Prevention ◽  
Police Officers ◽  
Local Level ◽  
Holistic Approach ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Social Constraints ◽  
Top Down ◽  
Bottom Up ◽  
Content Type

Purpose The purpose of this paper is to respond to the need for comparative studies on methodologies for implementing Crime Prevention through Urban Design and Planning (CP-UDP) at the local level, particularly in peripheral Europe where CP-UDP’s top-down standards have poor dissemination and acceptance. This paper debates how local partnerships can help reduce crime and how a CP-UDP-based model can be introduced into municipal planning. Design/methodology/approach The paper discusses the challenge of CP-UDP in the framework of a post-crisis Europe and Europe 2020. Because there is a large gap between theory and practice, lack of a shared holistic approach, and scepticism, or lack of knowledge, of public authorities, at local-level planning professionals and the police have devised bottom-up initiatives based on interdisciplinary partnerships with the community. The paper describes, discusses and compares the implementation of such approaches in Lisbon (Portugal) and Vilnius (Lithuania). Findings The paper addresses the processes and challenges of establishing synergies and working relationships between police officers, public officials and the community, and it discusses six main causes for its (un)success. When these conditions were met, crime and social constraints reduced. Practical implications Lessons learned are deemed crucial to disseminate knowledge and best practices, paving the way for proper top-down policies and planning legislations in these and other countries. Originality/value This paper analyses the potentialities and shortcomings of local-level implementation of CP-UDP strategies as an alternative to failed top-down strategies in two realities mostly unknown of the international scientific community. The case study material is previously unpublished internationally.

scholarly journals The art of branding − lessons from visual artists

2014 ◽  
Vol 4 (1/2) ◽  
pp. 101-118 ◽  
Author(s):  
Victoria L. Rodner ◽  
Finola Kerrigan
Keyword(s):  
Visual Arts ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Brand Name ◽  
Visual Artists ◽  
Content Type ◽  
Social And Cultural Capital ◽  
The Arts ◽  
Arts Marketing ◽  
Conceptual Paper

Purpose – The purpose of this paper is to highlight the importance of the field of visual arts marketing in the development of wider branding theory and practice. Drawing on examples from visual artists and the art mechanism that connects them, the paper reveals how artists and art professionals foster various types of capital (social, cultural, symbolic) as a way of developing a brand name, ensuring longevity in the field, and gaining financial value on the market. Design/methodology/approach – As a conceptual paper, the authors draw on a range of published works as well as examples from the world of visual arts in order to provide fresh theoretical insight into how branding in the arts may be applied to other industries. Findings – The key findings are the importance of the consideration of the development and nurturing of social and cultural capital in developing brand identity. Additionally, visual art brands are required to be innovative and dynamic, and lessons learned regarding these processes have relevance for mainstream brands. The paper also found that creativity is often collective and that looking to methods for developing work in the visual arts can be utilised by brand managers more broadly in the age of social media and user generated content. Originality/value – This paper follows on the developing body of work, which indicates what mainstream business can learn from looking at the visual arts. The paper highlights the collective nature of creativity in building the art brand as well as the importance of non-economic measures of value in the realm of branding.

TVA investment challenge: an experiential learning program

2019 ◽  
Vol 46 (5) ◽  
pp. 610-623
Author(s):  
Mahmoud Mustafa Haddad ◽  
Arnold L. Redman ◽  
Nell S. Gullett
Keyword(s):  
Experiential Learning ◽  
Portfolio Management ◽  
Oral Communication ◽  
Investment Fund ◽  
Learning Program ◽  
Investment Funds ◽  
Content Type ◽  
University Of Tennessee ◽  
Money Managers ◽  
The University

Purpose The Tennessee Valley Authority (TVA) provided funds to 25 universities in its service region for the establishment of student-managed investment funds (SMIF). The purpose of this paper is to examine the TVA Investment Challenge Program and its implementation at The University of Tennessee at Martin (UTM). Design/methodology/approach Each university has the freedom to structure the process for students to manage its investment fund as it chooses. This paper provides a description of the overall Investment Challenge Program and the specific Program at UTM. Findings The Investment Challenge Program is a valuable experiential learning opportunity for finance majors at UTM. Participating students enhance their portfolio management knowledge, their written and oral communication skills, and their employment opportunities. Research limitations/implications The paper is limited to TVA Portfolio guidelines and managerial style. Practical implications Faculty who supervise similar programs at other universities may be able to replicate some aspects of the program’s design. Originality/value The paper describes the TVA Investment Challenge, a unique program of SMIF. TVA provided funds to 25 universities with the stipulation that the student managers adhere to the same guidelines as TVA’s professional money managers. The university is a participant in the Program.

scholarly journals Using data to advance service: managerial issues and theoretical implications from action research

2018 ◽  
Vol 28 (1) ◽  
pp. 99-128 ◽  
Author(s):  
Chiehyeon Lim ◽  
Min-Jun Kim ◽  
Ki-Hun Kim ◽  
Kwang-Jae Kim ◽  
Paul P. Maglio
Keyword(s):  
Action Research ◽  
Relevant Literature ◽  
Data Use ◽  
Academic Research ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Future Research ◽  
Content Type ◽  
Holistic Understanding ◽  
Using Data

Purpose The proliferation of (big) data provides numerous opportunities for service advances in practice, yet research on using data to advance service is at a nascent stage in the literature. Many studies have discussed phenomenological benefits of data to service. However, limited research describes managerial issues behind such benefits, although a holistic understanding of the issues is essential in using data to advance service in practice and provides a basis for future research. The purpose of this paper is to address this research gap. Design/methodology/approach “Using data to advance service” is about change in organizations. Thus, this study uses action research methods of creating real change in organizations together with practitioners, thereby adding to scientific knowledge about practice. The authors participated in five service design projects with industry and government that used different data sets to design new services. Findings Drawing on lessons learned from the five projects, this study empirically identifies 11 managerial issues that should be considered in data-use for advancing service. In addition, by integrating the issues and relevant literature, this study offers theoretical implications for future research. Originality/value “Using data to advance service” is a research topic that emerged originally from practice. Action research or case studies on this topic are valuable in understanding practice and in identifying research priorities by discovering the gap between theory and practice. This study used action research over many years to observe real-world challenges and to make academic research relevant to the challenges. The authors believe that the empirical findings will help improve service practices of data-use and stimulate future research.

Lessons learned from a successful industrial product service system business model: emphasis on financial aspects

2018 ◽  
Vol 33 (3) ◽  
pp. 365-376 ◽  
Author(s):  
Maicon Gouvêa de Oliveira ◽  
Glauco Henrique de Sousa Mendes ◽  
Andrei Aparecido de Albuquerque ◽  
Henrique Rozenfeld
Keyword(s):  
Business Model ◽  
Business Models ◽  
Service System ◽  
Single Case ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Product Service System ◽  
Content Type ◽  
Structure Information ◽  
Product Service

Purpose The purpose of this study is to identify the elements of the product-service system (PSS) business model of a Brazilian company that has been running it for almost 50 years. It describes the PSS business model and gives special attention to the financial aspects of PSS implementation and to contingent factors of this emerging country. Design/methodology/approach The research is based on a single case study. Data have been collected through interviews and document analysis. Results and implications are obtained using Canvas framework to structure information and comparison between theory and practice. Findings Results described in this paper show that the PSS design and implementation can be strongly influenced by financial and contingent factors. This case indicates that the implementation of PSS business models can follow diverse paths and configurations to fit with companies’ organizational features, local regulations and economic factors, including mixed transactional models and less demanding financial assessments. Originality/value This paper provides a roadmap of lessons learned from a multinational manufacturer that has been following the PSS business model for almost 50 years. This paper offers key insights concerning financial aspects and contingency factors that might influence servitization adoption.

scholarly journals The new normal or the forgotten normal: contesting COVID-19 impact on contemporary architecture and urbanism

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ali A. Alraouf
Keyword(s):  
City Planning ◽  
Human Life ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Planning Theory ◽  
Negative Consequences ◽  
New Normal ◽  
Content Type ◽  
The Impact ◽  
The Way

PurposeThe term New Normal has become a buzzword to describe the anticipated changes in human life across the globe due to the impact of COVID-19. The paper's purpose is challenging the surrender for the notion of the “New Normal” and constructing a framework by which a call for understanding the practice of architecture, urbanism and city planning before the COVID-19 and contest its responsibility towards the city and the community.Design/methodology/approachMethodologically, literature review, analysis of emerging positions and interviews are the selected tools for conducting the research. The paper adopts a position perceiving COVID-19 has provided an opportunity for reflections and revisions about the way people dwell on Earth. The paper aims at analyzing the positive impacts of COVID-19 in sociological and urban perspective.FindingsConsequently, the main finding of the paper, calls for reviving the forgotten normal in the way places, neighborhoods and cities are designed and planned. Lessons learned from the lockdown time and the actions taken will be analyzed with special attention to Gulf States.Research limitations/implicationsIn months, New Normal developed as the most used expression since the spread of the pandemic. The COVID-19 pandemic marked the year 2020 with one of the biggest public health crises of all time, threatening to take away millions of lives. It is already initiating a massive economic crisis, triggering further negative consequences for human life, wellbeing and lifestyle. Numerous researchers illustrate that through history, humans faced the challenges of epidemics and pandemics and were able to use their will, capacities, resources and courage to resist and survive.Practical implicationsPandemics such as COVID-19 have caused a critical reassessment of urban spaces. This paper examines the city's relationship to concepts such as the individual, society, creativity, production and power to understand the causes and effects of urbanization. Cities, especially the globally significant ones – such as Wuhan, Milan, Madrid, Paris, London, New York, Los Angeles – are disproportionally affected. Thus, the pandemic is evolving into an urban crisis, forcing us to reconsider our deeply held beliefs about good city form and the purpose of planning.Social implicationsThe nature of the architectural, urban and planning theory and practice, is responsible for looking ahead, formulating visions and offering alternatives. Consequently, the methodological approach adopted in the paper is structured on three main pillars. First, observing, monitoring, and provide diagnosis (what we learned from isolation). Second, understanding the local, regional and global context as the COVID-19 crisis creates a ripple of change on all levels and requires both global and local understanding. Third, formulating visions and looking aheadOriginality/valueSuffering from epidemics and pandemics is new to our time and our contemporary experience but not new to the history of humankind. Revisiting the concepts of the New Normal vs. the Forgotten Normal and use the outcomes to construct an alternative framework for producing places in the post COVID-19 paradigm crystalize the value and originality of the paper.

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