Global mining M&A deals will be small and few

2016 ◽  
Keyword(s):  
Iron Ore ◽  
Gold Mining ◽  
Early Stage ◽  
High Yield ◽  
Content Type ◽  
Balance Sheets ◽  
Bear Market ◽  
The North ◽  
Industry Consolidation ◽  
Mining Projects

Subject Prospects for consolidation in the mining sector. Significance The five-year bear market in mining equities has left a trail of casualties. Bankruptcies and distressed sales have been common in bulk commodities, especially in the North American coal sector and among iron ore juniors. Lower metal prices revealed defects in a range of complex gold mining projects, several of which had to fold for technical reasons. As the largest companies emerge from the market bottom with damaged balance sheets, industry consolidation has so far been subdued: mining merger and acquisition (M&A) activity hit a cyclical low in 2015. Impacts Nimble operators are accumulating prospective land positions and will sell them as proven development properties in the next cycle. Unincorporated partnerships will flourish among like-minded companies seeking to carve out a niche in the product market. Royalty businesses will prefer cash-flow-generating projects to early-stage opportunities with future optionality. High-yield financing, hitherto available to mid-sized miners, will remain hostage to broader risks affecting this sector. Reduction of political risk could reopen mining opportunities for partnerships in regions long closed for foreign investment, such as Iran.

scholarly journals Issues of quality and professionalism of library volunteers

2017 ◽  
Vol 18 (2) ◽  
pp. 118-126
Author(s):  
Biddy Casselden ◽  
Geoff Walton ◽  
Alison Pickard ◽  
Julie Mcleod
Keyword(s):  
Service Provision ◽  
Public Libraries ◽  
Early Stage ◽  
Public Library ◽  
Specific Reference ◽  
Content Type ◽  
North East ◽  
The North ◽  
Key Factor ◽  
Key Staff

Purpose The purpose of this paper is to consider the preliminary findings arising from two case study library authorities in the North East of England, examining current volunteer use in Public Libraries. Specific reference to quality and professionalism will be discussed, to identify key trends and ways forward. Design/methodology/approach This research involved a series of interviews with key staff, a staff survey, user survey and volunteer focus groups. Findings The early-stage results of the qualitative analysis are reported, including key emergent themes relating to quality and professionalism. Triangulation of the key stakeholder opinions will be carried out. Research limitations/implications This research relates to an area that is a key factor of modern public library provision, and helps to illustrate the complex environment that exists. Practical implications Volunteer use in public libraries is a feature of the hybrid model of library provision in the twenty-first century, and the need to ensure quality and professionalism to improve service provision is even more critical. Social implications This research considers current thinking amongst stakeholders within public libraries and attempts to move the debate about volunteer use in library service provision forward. Originality/value It provides initial thoughts on what features are essential for successful volunteer use in public libraries, with regard to quality and professionalism.

Quality of life in breast cancer sufferers

2016 ◽  
Vol 29 (7) ◽  
pp. 721-732 ◽  
Author(s):  
Ahmed Essmat Shouman ◽  
Nahla Fawzy Abou El Ezz ◽  
Nivine Gado ◽  
Amal Mahmoud Ibrahim Goda
Keyword(s):  
Breast Cancer ◽  
Quality Of Life ◽  
Family Income ◽  
Early Stage ◽  
Functional Domain ◽  
Related Factors ◽  
Specific Patient ◽  
Content Type ◽  
Factors Affecting

Purpose – The purpose of this paper is to measure health-related quality of life (QOL) among patients with early stage cancer breast under curative treatment at department of oncology and nuclear medicine at Ain Shams University Hospitals. Identify factors affecting QOL among these patients. Design/methodology/approach – A cross-sectional study measured QOL among early stage female breast cancer (BC) patients and determined the main factors affecting their QOL. Three interviewer administered questionnaires were used. Findings – The physical domain mostly affected in BC patients and the functional domain least. Socio-demographic factors that significantly affected BC patients QOL scores were patient age, education, having children and family income. Specific patient characteristics include caregiver presence – a factor that affected different QOL scores. Age at diagnosis, affection in the side of the predominant hand, post-operative chemotherapy and difficulty in obtaining the medication were the disease-related factors that affected QOL scores. Originality/value – The final model predicting QOL for early stage female BC patients included age, education and difficulty in obtaining the medication as determinants for total QOL score. Carer presence was the specific patient characteristic that affected different QOL scores.

Bankarization in the first European cities with an equal number of Muslim and Christian inhabitants

2017 ◽  
Vol 10 (4) ◽  
pp. 554-580
Author(s):  
Miguel Ángel Pérez-Castro ◽  
Miguel Ángel Montero-Alonso ◽  
Akram Abderrahman-Azaar
Keyword(s):  
North Coast ◽  
Content Type ◽  
European Cities ◽  
The North ◽  
Financial Depth ◽  
Financial Framework ◽  
European Banks ◽  
The Mean ◽  
Different Cultures ◽  
Near Future

Purpose This paper aims to analyze the situation of the financial system in the Spanish-governed cities of Melilla and Ceuta, Christian and Muslim cities located on the north coast of Africa, and compared it with the mean bankarization level in the rest of Spain in 2000-2015. Design/methodology/approach Although different calculation methods have been proposed, most authors agree that the bankarization level of a country or a territory reflects the development of the society as a whole and has a positive correlation with economic growth. The indicators of financial depth proposed by these researchers are not only the ratio between variables such as loans, deposits, etc., but also the ratios of these variables to the population and the gross domestic product (GDP) of the country or territory. Findings The results obtained revealed that there are differences between these two North African Spanish cities. Furthermore, the financing gap between the mean bankarization levels of these cities and those of mainland Spain was found to be even larger than most of the other economic indicators (GDP per capita and the unemployment rate). Practical implications The authors are convinced that the manuscript is a contribution of great interest for serving pilot experience in cities wishing to offer a development of traditional banking and Islamic banking. The paper should be of interest to readers in the areas of finance systems and commercial banks where two different cultures coexist. Originality/value This is the first research study on the financial framework of European cities whose populations have an approximately equal percentage of Christians and Muslims. The data reflected the existence of savings and loan methods parallel to conventional banking. The conclusion was that in the near future, it would be advisable for European banks to take into account the cultural customs and religious practices of potential Muslim clients.

SEC permits abbreviated tender and exchange offers for non-convertible high-yield and investment-grade debt securities

2015 ◽  
Vol 16 (3) ◽  
pp. 28-29
Author(s):  
Ian B. Blumenstein ◽  
J. Eric Maki ◽  
John T. Owen
Keyword(s):  
Design Methodology ◽  
High Yield ◽  
Content Type ◽  
Efficient Mechanism ◽  
Practical Guidance ◽  
Traditional Structures ◽  
Investment Grade ◽  
Practical Implications

Purpose – To advise companies of a recent SEC no-action letter relating to tender and exchange offers for certain debt securities. Design/methodology/approach – Reviews various conditions allowing an issuer to use a shortened timeframe in which certain debt tender/exchange offers need be kept open for as few as five business days. Findings – The abbreviated debt tender/exchange offer structure contemplated by the no-action letter provides a more efficient mechanism for conducting debt tender/exchange offers in certain circumstances. Practical implications – Issuers conducting a debt tender/exchange offer should consider whether the new abbreviated structure is more effective in achieving their objectives than the more traditional structures. Originality/value – Practical guidance from experienced securities regulatory lawyers that gives an overview of important developments in debt tender/exchange offer practice.

Antecedents of growth-oriented entrepreneurship before and during the Greek economic crisis

2017 ◽  
Vol 24 (3) ◽  
pp. 528-544 ◽  
Author(s):  
Ioannis Giotopoulos ◽  
Alexandra Kontolaimou ◽  
Aggelos Tsakanikas
Keyword(s):  
Work Experience ◽  
Early Stage ◽  
New Ventures ◽  
High Growth ◽  
Content Type ◽  
Crisis Period ◽  
Individual Level ◽  
Level Data ◽  
The Social ◽  
Before And After

Purpose The purpose of this paper is to explore potential drivers of high-growth intentions of early-stage entrepreneurs in Greece before and after the onset of the financial crisis of 2008. Design/methodology/approach To this end, the authors use individual-level data retrieved from Global Entrepreneurship Monitor annual surveys (2003-2015). Findings The results show that high-growth intentions of Greek entrepreneurs are driven by different factors in the crisis compared to the non-crisis period. Male entrepreneurs and entrepreneurs with significant work experience seem to be more likely to be engaged in growth-oriented new ventures during the crisis period. The same appears to hold for entrepreneurs who are motivated by an opportunity and also perceive future business opportunities in adverse economic conditions. On the other hand, the educational level and the social contacts of founders with other entrepreneurs are found to drive ambitious Greek entrepreneurship in the years before the crisis, while they were insignificant after the crisis outbreak. Originality/value Based on the concept of ambitious entrepreneurship, this study contributes to the literature by investigating the determinants of entrepreneurial high-growth expectations in the Greek context emphasizing the crisis period in comparison to the pre-crisis years.

Risk assessment of mining projects in Ghana

2017 ◽  
Vol 23 (1) ◽  
pp. 22-38 ◽  
Author(s):  
Charles Teye Amoatey ◽  
Samuel Famiyeh ◽  
Peter Andoh
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Academic Research ◽  
Mining Industry ◽  
Commodity Prices ◽  
Mitigation Measures ◽  
Content Type ◽  
Management Culture ◽  
Mining Project ◽  
Mining Projects

Purpose The purpose of this paper is to assess the critical risk factors affecting mining projects in Ghana. Design/methodology/approach A purposive sampling approach was used in selecting the respondents for the study. These were practitioners working on mining projects in Ghana. Findings The study identified 22 risk factors contributing to mining project failure in Ghana. The five most critical mining project risk factors based on both probability of occurrence and impact were unstable commodity prices, inflation/exchange rate, land degradation, high cost of living and government bureaucracy for obtaining licenses. Mitigation measures for addressing the identified risk factors were identified. Research limitations/implications This paper is limited to data collected from practitioners working on mining projects. Due to geographic and logistical constraints, the study did not include the perception of local communities in quantifying the risk factors. Practical implications This paper has documented the critical risk factor affecting the mining industry in Ghana. Though the identified risk types are also prevalent in other sectors of the construction industry, the key findings of this paper emphasize the need for a comprehensive risk management culture in the mining sector. From an academic research perspective, the paper contributes to a conceptual risk assessment framework. Originality/value The information gathered through this research can be utilized in identifying and understanding risks during the early stages of mining project implementation.

Conditional stock liquidity premium: is Warsaw stock exchange different?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Szymon Stereńczak
Keyword(s):  
Emerging Markets ◽  
Stock Returns ◽  
Stock Exchange ◽  
Emerging Market ◽  
Market Liquidity ◽  
Investment Horizon ◽  
Liquidity Premium ◽  
Stock Liquidity ◽  
Content Type ◽  
Bear Market

Purpose This paper aims to empirically indicate the factors influencing stock liquidity premium (i.e. the relationship between liquidity and stock returns) in one of the leading European emerging markets, namely, the Polish one. Design/methodology/approach Various firms’ characteristics and market states are analysed as potentially affecting liquidity premiums in the Polish stock market. Stock returns are regressed on liquidity measures and panel models are used. Liquidity premium has been estimated in various subsamples. Findings The findings vividly contradict the common sense that liquidity premium raises during the periods of stress. Liquidity premium does not increase during bear markets, as investors lengthen the investment horizon when market liquidity decreases. Liquidity premium varies with the firm’s size, book-to-market value and stock risk, but these patterns seem to vanish during a bear market. Originality/value This is one of the first empirical papers considering conditional stock liquidity premium in an emerging market. Using a unique methodological design it is presented that liquidity premium in emerging markets behaves differently than in developed markets.

The storm after the storm: the long-term lingering impacts of hurricanes on schools

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Cassandra R. Davis ◽  
Sarah R. Cannon ◽  
Sarah C. Fuller
Keyword(s):  
North Carolina ◽  
Data Collection ◽  
Instructional Time ◽  
Emotional Needs ◽  
Social Emotional ◽  
Content Type ◽  
The North ◽  
State Education ◽  
The Impact

PurposeThe purpose of this paper is to identify and describe the long-term impacts of hurricanes on schools and discuss approaches to improving recovery efforts.Design/methodology/approachInterviews with 20 school districts in Texas and North Carolina after Hurricanes Harvey (2017) and Matthew (2016). In total, 115 interviews were conducted with teachers, principals, district superintendents and representatives from state education agencies. Interview questions focused on the impact of storms and strategies for recovery.FindingsThe authors uncovered three long-term impacts of hurricanes on schools: (1) constrained instructional time, (2) increased social-emotional needs and (3) the need to support educators.Research limitations/implicationsThis paper focuses on two storms, in two states, in two successive years. Data collection occurred in Texas, one academic year after the storm. As compared to the North Carolina, data collection occurred almost two academic years after the storm.Practical implicationsThis paper illuminates strategies for stakeholders to implement and expedite hurricane recovery through; (1) updating curricula plans, (2) providing long-term counselors and (3) supporting educators in and out of school.Originality/valueTo date, very few studies have explored the ways in which schools face long-term impacts following a disaster. This paper provides insight to the challenges that prolong the impacts of disasters and impede recovery in schools. With hurricanes and related disasters continuing to affect schooling communities, more research is needed to identify the best ways to support schools, months to years after an event.

Sign in / Sign up

Export Citation Format

Share Document