scholarly journals EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET

2016 ◽  
Author(s):  
Bernard Adjekophori ◽  
Sulaimon Olanrewaju Adebiyi
Keyword(s):  
Real Estate ◽  
Capital Market ◽  
Emerging Market ◽  
Sampling Technique ◽  
Capital Outlay ◽  
Empirical Survey ◽  
Real Estate Projects ◽  
Real Estate Developers ◽  
The Capital Market

The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05) is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.

scholarly journals Pension Fund: A Veritable Source of Financing Real Estate Development in Nigeria

2014 ◽  
Vol 23 ◽  
pp. 23-40 ◽  
Author(s):  
Adjekophori Bernard
Keyword(s):  
Real Estate ◽  
Pension Fund ◽  
Sampling Technique ◽  
Pension Funds ◽  
Capital Outlay ◽  
Pension Scheme ◽  
Real Estate Development ◽  
Professional Advice ◽  
Real Estate Developers ◽  
The Government

Pension funds control relatively large amounts of capital and represent the largest institutional investors in many nations. Financing real estate on the other hand required a huge capital outlay. This study examined the viability of pension funds as an investment option in real estate development. It is empirical in approach and it adopted a survey research design. A convenient random sampling technique was used to gather data from a sample of 42 respondents comprising of 18 pension administrators and 24 Real Estate Developers and Investors. A structured questionnaire was used as the instrument for data collection and a simple descriptive statistical method was use for presentation and analysis of the data. The results however reveal that both the pension administrators and the real estate developers agreed that the pension funds if well channel is a veritable means for financing real estate project. We therefore recommends amongst others that the government as a matter of urgency should slack their policy to increase the percentage of the funds for real estate development and to also advance a policy with strict guideline empowering the pension fund managers to directly grant credit to developers and real estate investors who is able to meet and comply with the conditions provided in such policy. Real estate brokers and experts should also be drafted into the pension scheme to give professional advice on the viability and feasibility of any proposed real estate development.

Mindtree: Tryst with the Corporate Control Market

2021 ◽  
pp. 227797792199190
Author(s):  
P. Bala Bhaskaran
Keyword(s):  
Capital Market ◽  
Corporate Control ◽  
Theory And Practice ◽  
Effective Control ◽  
Small Fish ◽  
Market Theory ◽  
Strategic Fit ◽  
Sequence Of Events ◽  
The Capital Market

The case is structured around the takeover of Mindtree Ltd (ML) by Larsen & Toubro Ltd (L&T) in June 2019. ML was founded and nurtured by a group of software professionals. In two decades, it had blossomed into an enterprise with global presence, US$ 1 billion turnover and a unique organizational culture. In a strange sequence of events, more than 20% of ML’s shares landed in L&T’s lap. L&T grabbed this opportunity and ran a systematic campaign to acquire the company. In about 100 days, L&T achieved its objective and got into the driver’s seat. The case traces the evolution of ML from a start-up to a publicly held company with global standing. It examines the circumstances and events leading to L&T getting the initial stake in the company; it examines the acquisition campaign of L&T and the response of the top management of ML. Research Questions Was there a strategic fit between ML and L&T? Were the capital market processes just and fair to all the stakeholders involved in the acquisition? Was L&T fair, prudent and sensitive in the acquisition process? Was Siddhartha loyal and fair to the founders of ML? Link to Theory The theoretical concepts that would enable a better comprehension of the case are: Analysis of strategic fit in M&A situations Capital market: Theory and practice Strategy for corporate control of an enterprise Significance of culture and ecosystem in knowledge organizations Phenomenon Studied Leadership styles relevant at different stages of evolution of an enterprise are different. A leader, at a given point of time, is successful when he is able to match his aspirations with the leadership needs of the enterprise at that point of time. The case can be used to demonstrate this phenomenon. Case Context Context of the case is that of an emerging infotech enterprise, coming under corporate raid and the unfolding capital market processes. The case highlights the shortcomings of the co-founders, leading to their unseating as also the sensitivity of the incoming management in handling the transition. Findings The case demonstrates the ability of the capital market to be fair to all stakeholders ensuring reward for competence and punishment for sloppiness. The case emphasizes the need for co-founders to have an effective strategy for corporate control; only then they could hope to achieve the long-term objectives. The case also illustrates the significance of sensitivity in handling softer issues like people and ecosystem in ensuring long-term success. Discussions At the outset, the case may appear to be that of a big fish swallowing a small fish. But a closer scrutiny would reveal the multiple dimensions of the case. Consider the role of Siddhartha. He seeded the idea of the company; he was a financier to it; he remained an investor in the company longer than most of the founders; when he pulled out, the co-founders could not hold the company together. Neither Siddhartha nor the co-founders had the far-sightedness to consolidate their shareholdings for effective control of the company into the future. This would trigger discussions on the differing roles of technocrats, managers, leaders and founders. Another point worthy of discussion would be: How were the co-founders choosing their leaders? Was it by rotation among themselves, or did they engage a set of criteria to identify an incumbent capable of leading a global company?

scholarly journals Pendampingan Pentingnya Strategi dalam Meningkatkan Minat Nasabah terhadap Investasi Saham di Surabaya

2020 ◽  
Vol 2 (2) ◽  
pp. 84-89
Author(s):  
Veronika Nugraheni Sri Lestari ◽  
Dwi Cahyono ◽  
Nila Romatal Azah ◽  
Devy Mei Ariyanti
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Initial Step ◽  
Financial Instruments ◽  
Public Companies ◽  
Public Offerings ◽  
Securities Trading ◽  
Market Infrastructure ◽  
The Capital Market

Capital markets are often interpreted as a market for a long-term financial instrument (securities) (its maturity is more than 1 year). In addition to that understanding, the capital market is also often associated as a place for the transaction of the party that needs funds (the company) and the Excess party (financier). The initial step of Sharia capital market developments in Indonesia began with the issuance of sharia funds on 25 June 1997 followed by the issuance of sharia bonds at the end of 2002, followed by the presence of the Jakarta Islamic Index (JII) in July 2000. The marketable securities traded on the stock exchange include stocks, bonds and mutual funds. Marketable securities are often referred to as ' financial instruments ' or ' securities ' or ' Sekuritas ' (Securities Act No. 8 year 1995 defines the capital market as "the activities concerned with public offerings and securities trading, public companies relating to securities, published, as well as institutions and professions relating to the securities". The capital market acts as a liaison between investors and companies or government institutions through the long-term trading of financial instruments. In an effort to support the realization of the Indonesian capital market to become a resilient and global economic driver of the national economy as stated in the Indonesian capital market blueprint, it needs to be done continuously to improve and expand the capital market infrastructure towards the better direction.

scholarly journals Assessing the Possibility of Implementing Tools of Technical Analysys for Real Estate Market Analysis

2016 ◽  
Vol 24 (2) ◽  
pp. 85-96
Author(s):  
Justyna Brzezicka
Keyword(s):  
Real Estate ◽  
Capital Market ◽  
Traditional Approach ◽  
Supply And Demand ◽  
Technical Analysis ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Capital Market

Abstract Technical analysis (TA) and its different aspects are widely used to study the capital market. In the traditional approach, this analysis is used to determine the probability of changes in current rates on the basis of their past changes, accounting for factors which had, have or may have an influence on shaping the supply and demand of a given asset. In the practical sense, TA is a set of techniques used for assessing the value of an asset based on the analysis of the asset's trajectories as well as statistical tools. The work assumes three research objectives: 1) a review of tools applied in technical analysis, 2) an attempt at implementing selected tools of technical analysis for analyzing the real estate market (REM), 3) an assessment of the possibilities of implementing selected tools for assessing the real estate market on the example of the Olsztyn residential real estate market. The research hypothesis is a presumption regarding the possibility of implementing tools used in traditional technical analysis for the analysis of the real estate market accounting for the natural limitations and specifics of the market. The work extends scientific achievements in the part regarding the methods and tools of analyzing the real estate market as well as the connections between the real estate market and the capital market.

scholarly journals Differences in Investment Concepts between Chinese and Western Investors from the Cultural Perspective

2021 ◽  
Vol 2 (6) ◽  
Author(s):  
Zhiming Gong
Keyword(s):  
Cultural Differences ◽  
Capital Market ◽  
Public Information ◽  
Cultural Perspective ◽  
Short Term ◽  
The West ◽  
Independent Decision ◽  
Investment Portfolios ◽  
The Capital Market

The investment concept, reflecting the investor's investment purpose and willingness, is a value that embodies the investor's investment personality characteristics, prompts investors to carry out investment analysis, judgment, decision-making, and guides investor behaviors. Due to different maturity of the capital market in China and Western countries, there are many differences in the regulatory level, cultural and behavioral patterns of the supervision and management departments of the capital market between Chinese and Western investment philosophy. This article analyzes the differences in investment ideas between Chinese and Western investors from the culture perspective. This thesis studies on the basis of four cultural differences: "The Golden Mean" and "Interest Maximization"; the face-culture and individualism; rule of man and rule of law; and gambler psychology and adventure spirit. Based on these four aspects of cultural differences, four different investment concepts of Chinese and Western investors are analyzed: long-term investments and short-term speculation; "Herd Effect" and independent decision; grapevines and public information; and leveraged trading and allocation of funds. This thesis adopts several cases to analyze the differences between Chinese and Western investors in financial products such as stocks, gold, and futures, and in investment behavior such as the long-term investment, short-term speculation, leveraged trading, and investment portfolios. With cultural differences between China and the West probed into, the differences between Chinese and Western investors' investment concepts are justified. It is hoped that this effort will help investors deepen the understanding of the capital markets in China and the West, enable Chinese investors to learn the Western mature investment concepts, and facilitate the regulators to manage the capital market effectively.

scholarly journals Perilaku Investor Muslim Dalam Bertransaksi Saham di Pasar Modal

2015 ◽  
Vol 1 (12) ◽  
pp. 874
Author(s):  
Pramita Agustin ◽  
Imron Mawardi
Keyword(s):  
Capital Market ◽  
Investment Decision ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Point Of View ◽  
Investor Behavior ◽  
Case Study Method ◽  
Stock Transaction

This research aims to know the muslim investor behavior in a stock transaction in capital market. This research used the qualitative approach, using the case study method by basing on the theory of behavioral finance.Data collection using a purposive sampling technique to determine informants amounted to five muslim investors who at least has a two year stock transaction to be interviewed in depth, observed and evaluated the data by performing a triangulation.The results of this research have findings that muslim investor behavior in a stock transaction is divided into two point of view that is, investors who consider religion in their investment decisions and the invetor did not consider religion in their investment decisions. Investors who consider religion in their investment decisions preferring stock composition of the incoming Sharia index list and nature of investments tend to be long term. Investors who do not consider religion in choosing his investment decision stock blends well in the Shariahcompliantindex or not. The nature of investment investors who did not consider the shortterm nature of the religion.

scholarly journals Peranan Sistem Informasi dengan Online Trading terhadap Pertumbuhan Pasar Modal di Indonesia

2013 ◽  
Vol 4 (2) ◽  
pp. 803
Author(s):  
Riswan Efendi Tarigan
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Community Involvement ◽  
Supply And Demand ◽  
National Development ◽  
Market Participants ◽  
Online Trading ◽  
Efficient Information ◽  
The Capital Market

Capital Markets is part of the financial market, which is related to the supply and demand of the need for long-term funding. Capital Markets was formed and developed with aims to support the implementation of national development in order to improve the distribution, growth, and stability of the national economy towards the improvement of society welfare. However, so far the capital market in Indonesia is still around 0.5% of the total population which is too small compared to capital markets in other advanced countries. One solution for increasing community involvement in the capital market, despite educating in smart and sustainable way, is developing and implementing efficient information systems, so that made it easier for market participants to undertake investment activities. This paper examines how and to what extent the role of information system enhances the capital market in Indonesia, which aims to plan the subsequent strategic step so that the development of Indonesia’s capital market is able to compete in globalmarket.

scholarly journals Test for cointegration and causality between ISE and emerging market ındices; diversification opportunities for ınvestorsBİST ile yükselen piyasalara ait endeksler arasındaki eş bütünleşme ve nedenselliğin test edilmesi; yatırımcılar açısından çeşitlendirme fırsatları

2017 ◽  
Vol 14 (4) ◽  
pp. 3486
Author(s):  
Umut Burak Geyikçi
Keyword(s):  
Emerging Markets ◽  
Capital Market ◽  
Emerging Market ◽  
Structural Break ◽  
Unit Root Tests ◽  
Cusum Test ◽  
Short Term ◽  
Causality Test ◽  
Johansen Cointegration Test

It was aimed to show the diversification possibilities that investors can catch in terms of emerging markets in the study. Within the scope of the study, the emerging markets of Turkey, Europe, Asia and America were compared. A total of 12 markets, 4 from Europe, 1 from the Americas and 7 from Asia were selected. Monthly closing values for the capital market were used for 16 years period (176 observations) for July 2002 - June 2017. The series were tested with the ADF, PP and Zivot andrews unit root tests, then Johansen Cointegration test and Wector Erroro Correction/Granger Causality test were used after it was found that there was no structural break with the Cusum test. As a result of the research, all the markets are found cointegrated in the long term. In a short term it is found that Turkey has mutual causality with Thailand, Russia, Poland, Brazil and also Taiwan, Malaysia and Czechia have one-way causality with Turkey. As a result, it can be said that there is no short-term causality relation with some emerging markets with the ISE and that it is possible to diversify in the short term in terms of investors.Extended English abstract is in the end of PDF (TURKISH) file. ÖzetBu çalışma ile yatırımcıların yükselen piyasalar açısından yakalayabilecekleri çeşitlendirme imkanları ortaya konmaya çalışılmıştır. Çalışma kapsamında Türkiye ile Avrupa, Asya ve Amerika kıtasında yer alan yükselen piyasalar karşılaştırılmıştır. Bu amaçla 4’ü Avrupadan, 1’i Amerikadan, 7’si de Asyadan olmak üzere toplamda 12 piyasa seçilmiştir. Temmuz 2002 – Haziran 2017 dönemine ait 16 yıllık periyotta (176 gözlem) sermaye piyasasına ait aylık kapanış değerleri kullanılmıştır. Gerçekleştirilen çalışmada önce ADF, PP ve Zivot-Andrews birim kök testleri ile seriler test edilmiş, sonrasında Cusum testi ile yapısal kırılma olmadığı anlaşıldıktan sonra, Johansen Eşbütünleşme testi ve ardından da Vektör Hata Düzeltme/Granger Nedensellik Testi kullanılmıştır. Araştırma neticesinde incelenen tüm piyasaların uzun dönemde eşbütünleşik oldukları, kısa dönemde ise Türkiye’nin Taylan, Rusya, Polonya ve Brezilya ile karşılıklı, Tayvan, Malezya ve Çekya’nın ise Türkiye ile tek yönlü bir nedensellik ilişkisinde olduğu tespit edilmiştir. Bu çerçevede, BİST’in inceleme kapsamındaki bazı yükselen piyasalarla kısa dönemde nedensellik ilişkisi bulunmadığı ve yatırımcılar açısından kısa vadede hali hazırda bir çeşitlendirme imkanı sunduğu söylenebilmektedir.  

scholarly journals ANALISIS BISNIS DIGITAL (SKEMA PONZI DAN SKEMA PIRAMIDA) DI ERA REVOLUSI INDUSTRI 4.0 BAGI MASYARAKAT DI KABUPATEN KOTABARU BERDASARKAN UU NO. 8 TAHUN 1995 TENTANG PASAR MODAL DAN UU NO. 7 TAHUN 2014 TENTANG PERDAGANGAN

KINDAI ◽  
2021 ◽  
Vol 17 (2) ◽  
pp. 166-177
Author(s):  
Grenada Floren
Keyword(s):  
Insider Trading ◽  
Capital Market ◽  
Industrial Revolution ◽  
Descriptive Analysis ◽  
Sampling Technique ◽  
The People ◽  
Analysis Technique ◽  
Quota Sampling ◽  
The Right ◽  
The Capital Market

Abstract: The ignorance of the people, especially those living in Kotabaru Regency regarding the existence and implementation of Law no. 08 of 1995 concerning the capital market and Law no. 7 of 2014 concerning trade, is used by illegal business actors to implement Ponzi schemes, pyramid schemes and insider trading on the businesses they offer. This study aims to find out about the development of digital business in the industrial revolution era, the implementation of Law no. 8 of 1995 concerning the capital market and Law no. 7 of 2014 concerning Trade in digital business, providing knowledge in choosing the right and appropriate digital business products. The sampling technique used was Quota sampling which was carried out on 50 respondents spread over 6 Districts in Kotabaru Regency. The qualitative descriptive analysis technique uses the scoring results from the questionnaire, for the results of the questionnaire with negative indications, further observations are carried out using purposive/judgmental techniques. From the results of the research, it was found that there are still many people who are entangled in illegal businesses. Keywords: Ponzi Scheme, Pyramid Scheme, Law No. 8 of 1995 concerning Markets Capital and Law no. 7 of 2014 concerning Trade   Abstrak : Ketidaktauan masyarakat khususnya yang tinggal di Kabupaten Kotabaru mengenai keberadaan dan pengimplementasian UU No. 08 Tahun 1995 tentang pasar modal dan UU No. 7 Tahun 2014 tentang perdagangan, dimanfaatkan oleh oknum pelaku bisnis ilegal untuk menerapkan skema Ponzi, skema piramida dan insider trading pada bisnis yang mereka tawarkan. Penelitian ini bertujuan untuk mengetahui mengenai perkembangan bisnis digital pada era revolusi industri, implementasi UU No. 8 Tahun 1995 Tentang pasar modal dan UU No. 7 Tahun 2014 Tentang Perdagangan pada bisnis digital, memberikan pengetahuan dalam memilih produk bisnis digital tepat dan sesuai. Teknik pengambilan sampel menggunakan Quota sampling yang dilakukan pada 50 orang responden yang tersebar pada 6 Kecamatan di Kabupaten Kotabaru. Teknik analisis deskriptif kualitatif menggunakan hasil skoring dari kusioner, untuk hasil kuisioner berindikasi negatife di lakukan pengamatan lanjutan menggunakan teknik purposive/judgmental. Dari hasil penelitan di temukan masih banyak masyarakat yang terjerat dalam bisnis ilegal.   Kata Kunci : Skema Ponzi, Skema Piramida, UU No.8 Tahun 1995 Tentang Pasar Modal dan UU No. 7 Tahun 2014 Tentang  Perdagangan

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