GEST-D-602. Banking and Microfinance, Banking and Microfinance Exercises. 1st semester EMP
|
|
- Sydney Richard
- 6 years ago
- Views:
Transcription
1 GEST-D-602 Banking and Microfinance, Banking and Microfinance Exercises 1st semester EMP Prof. Laurent WEILL, Prof. Annabel VANROOSE Arnaud GILLIN, Noémie RENIER Planning Date Time Lecturer Guest speaker Place 24/10/ pm 9 pm A. Gillin R /10/ pm 9 pm N. Renier R /10/ pm 9 pm N. Renier R /11/ pm 9 pm Prof. A. Vanroose R /11/ pm 9 pm Prof. A. Vanroose R /11/ pm 9 pm Prof. A. Vanroose R /12/ pm 9 pm Prof. A. Vanroose Prof. E. De Keuleneer R /12/ pm 9 pm Prof. L. Weill R /12/ pm 9 pm Prof. L. Weill R /12/ pm 9 pm Prof. L. Weill R /12/ pm 9 pm Prof. L. Weill R
2 Part 1: Prof. A. Vanroose Part 1: Objectives of the course Obtain insights in differences and interrelationships between banks and MFIs Understand competition in the microfinance sector Go deeper into the regional distribution of banks and MFIs Expansion strategies of MFIs and banks and link with access to financial services Part 1: Topics covered The following specific topics will be covered: Session 1 and 2 Banking and microfinance: institutions, interrelationships and competition Access to financial services Relationships between banks and MFIs i. Competition ii. Cooperation and linkages iii. Competition between MFIs Correlation between traditional financial sector development and the microfinance sector from a macro point of view Latin American country cases on financial sector development, the role of microfinance institutions and the effects of increasing competition Session 3 Microfinance expansion strategies and access to financial services Location and access to financial services Expansion strategies of MFIs and their logics Cases: Peru, India
3 Part 1: Recommended Readings Session 1 and 2 - Ahlin, C., Lin, J. and M. Miao, 2011, Where does Microfinance Flourish? Microfinance Institution Performance in Macroeconomic Context, Journal of Development Economics, vol. 95, no. 2, pp Assefa, E., Hermes, N. and A. Meesters, 2012, Competition and Microfinance, Available at SSRN: - Claessens, S., 2009, Competition in the Financial Sector: Overview of Competition Policies, IMF Working Paper, 09/45, The International Monetary Fund, Washington D.C. - Cull R, Demirgüç-Kunt, A. and Morduch, J., 2009, Microfinance Meets the Market, Policy Research Paper, no. 4630, the World Bank. - Demirguc-Kunt, A., Beck, T. and Honohan, P., 2008, Finance for All? Policies and Pitfalls in Expanding Access. World Bank Policy Research Report, World Bank, Washington DC. - Vanroose, A. and D Espallier, B., 2012, Do Microfinance Institutions Accomplish their Mission? Evidence from the Relationship Between Traditional Financial Sector Development and MFIs Performance and Outreach, Applied Economics, Vol 45, no. 15, pp Session 3 - Bebbington, A., 2004, NGOs and Uneven Development: Geographies of Development Intervention, Progress in Human Geography, 28 (6), pp Fouillet, C., 2009, La Construction Spatiale de la Microfinance en Inde, Doctoral Thesis, Université Libre de Bruxelles, Brussels. - Fruttero, A. and V. Gauri, 2005, The Strategic Choices of NGOs: Location Decisions in Rural Bangladesh, The Journal Of Development Studies, 41(5), pp Vanroose, A., 2010, Which Local Factors Drive the Regional Expansion of Microfinance Institutions? Evidence from Peru?, Unpublished Working Paper (will be distributed).
4 Part 2: Laurent Weill Part 2: Objectives of the course Explain the fundamentals of the lending activity Introduce the investment decision criteria Explain the role of the financing decision on the value of the firm Present the fundamentals of Islamic finance Part 2: Topics covered 1) Information asymmetries Presentation o Adverse selection and signalling o Moral hazard Consequences o Credit rationing o The role of the long-term relationships in credit activity 2) How to solve information asymmetries The role of collateral o What is collateral? o The 3 reasons for the use of collateral The role of capital The role of character 3) Investment decision rules Net Present Value o The NPV decision rule o What does NPV depend on? Alternative decision rules o The internal rate of return o Other investment criteria 4) Capital structure policies Capital structure in a perfect market o Equity vs. debt financing o Modigliani-Miller The benefits of debt o The tax shield o Information asymmetries and the pecking-order theory
5 The costs of debt o The costs of financial distress o The agency costs of leverage Empirical evidence concerning capital structure policies 5) Islamic Finance Principles o A finance without interest o Another paradigm Instruments o Mudaraba o Musharaka o Murabaha o Ijara Practice and Criticisms o Practice : figures and reality o Criticisms Part 2: Recommended Readings - Berk, J., De Marzo, P. (2013), Corporate Finance, Pearson, 2 nd edition - Greenbaum, S., Thakor, A. (2007), Contemporary Financial Intermediation, 2 nd edition - Iqbal, Z., Mirakhor, A. (2007), An Introduction to Islamic Finance, Wiley, 1 st edition - Ross, S., Westerfield, R., Jaffe, J. (2013), Corporate Finance, McGraw Hill, 10 th edition
6 Part 3: Noémie Renier and Arnaud Gillin (Exercices) Part 3: Objectives of the course Microfinance Investment Funds (MIF) development and management Risk Management from the perspective of the Fund Investment Procedures Calculating Effective Interest Rates Part 3: Topics covered 1) Introduction : MFI vs MIF 2) Fund Development (Case Study) Market positioning: demand versus offer Fund raising Fund structure Governance Investment Policy Risk Management Servicing (payment collection, custodian, ) Financial modeling Technical Assistance 3) Fund Management Advisory Sourcing/Origination : eligibility criteria Screening :Iinitial desk review Term Sheet Due Diligence (social and financial risk assessment / scoring) Debt versus Equity Decision making - Investment Committee Legal documentation Monitoring 4) Investment criteria Country risk Regulatory context, institutional development and microfinance market Ownership, governance and human resources Products and services Operations and internal control Social and Environmental Risk MIS Loan portfolio development and quality
7 Financial performance Asset & liabilities management (ALM) Liquidity, solvency, currency risk Business Plan and Development Prospects 5) Calculating Effective Interest Rates Theory Transparency requirements MFTransparency Exercices Part 3: Recommended Readings Robert Peck Christen, Mark Flaming, (2009), Due Diligence Guidelines for the Review of Microcredit Loan Portfolios, CGAP ( Guidelines-for-the-Review-of-Microcredit-Loan-Portfolios-Dec-2009.pdf) Sarah Forster and Estelle Lahaye, with Heather Clark, Antonique Koning, and Kate McKee, (2010), Implementing the Client Protection Principles: A Technical Guide for Investors, 2nd Edition, CGAP ( r_cpp_guide.pdf) Calculating Transparent Pricing Tool v2.2, Mftransparency, (2013), MicroFinance Transparency in a Snapshot, ( EN-MFTransparency-in-a-Snapshot pdf) Dieckmann, R. (2007), Microfinance: An emerging investment opportunity, Deutsche Bank Research, Frankfurt. General reading Brealey, R. A. and Myers, S.C., (2000), Principle of Corporate Finance, 7 th edition, Pearson Education All parts Evaluation Written exam
8
Banking and Microfinance, Banking and Microfinance Exercises
GEST-D-602 Banking and Microfinance, Banking and Microfinance Exercises 1st semester EMP 2012-13 Prof. Laurent WEILL, Prof. Annabel VANROOSE Arnaud GILLIN Planning Date Time Lecturer Guest speaker Place
More informationSyllabus for PRINCIPLES OF BANKING AND FINANCE
Syllabus for PRINCIPLES OF BANKING AND FINANCE Lecturers: Victor Shpringel, Vincent Fardeau Classteachers: Victor Shpringel, Nina Ryabichenko, Elena Kochegarova, Andrey Kostylev, Irina Dergunova Course
More informationJeffrey F. Jaffe Spring Semester 2011 Corporate Finance FNCE 100 Syllabus, page 1 of 8
Corporate Finance FNCE 100 Syllabus, page 1 of 8 Spring 2011 Corporate Finance FNCE 100 Wharton School of Business Syllabus Course Description This course provides an introduction to the theory, the methods,
More informationJeffrey F. Jaffe Spring Semester 2015 Corporate Finance FNCE 100 Syllabus, page 1. Spring 2015 Corporate Finance FNCE 100 Wharton School of Business
Corporate Finance FNCE 100 Syllabus, page 1 Spring 2015 Corporate Finance FNCE 100 Wharton School of Business Syllabus Course Description This course provides an introduction to the theory, the methods,
More informationCorporate Finance Theory FRL CRN: P. Sarmas Summer Quarter 2014 Building 163 Room 2032 Monday and Wednesday: 8:00 a.m. 9:50 a.m.
Corporate Finance Theory FRL 367-01 CRN: 51898 P. Sarmas Summer Quarter 2014 Building 163 Room 2032 Monday and Wednesday: 8:00 a.m. 9:50 a.m. www.csupomona.edu/~psarmas Catalog Description: Capital Budgeting
More informationCorporate Finance Theory FRL CRN: P. Sarmas Summer Quarter 2012 Building 24B Room 1417 Tuesday & Thursday: 4:00 5:50 p.m.
Corporate Finance Theory FRL 367-01 CRN: 50454 P. Sarmas Summer Quarter 2012 Building 24B Room 1417 Tuesday & Thursday: 4:00 5:50 p.m. www.csupomona.edu/~psarmas Catalog Description: Capital Budgeting
More informationUniversity of Helsinki Faculty of Social Sciences. Master's Programme in Society and Change YMV-T517, Microfinance and development, 5 credits
University of Helsinki Faculty of Social Sciences Master's Programme in Society and Change YMV-T517, Microfinance and development, 5 credits Lecture 1 (04.09.2018) Course Syllabus and List 1 Part I: Understanding
More informationShanghai Jiao Tong University. FI410 Corporate Finance
Shanghai Jiao Tong University FI410 Corporate Finance Instructor: Xiaorong Zhang Email: xrzhang@fudan.edu.cn Home Institution: Office Hours: Fudan University Office: Term: 2 July - 2 August, 2018 Credits:
More informationDIVIDEND CONTROVERSY: A THEORETICAL APPROACH
DIVIDEND CONTROVERSY: A THEORETICAL APPROACH ILIE Livia Lucian Blaga University of Sibiu, Romania Abstract: One of the major financial decisions for a public company is the dividend policy - the proportion
More informationBusiness Finance FINC 332
Business Finance FINC 332 Accreditation through Loyola University Chicago Please Note: This is a sample syllabus, subject to change. Students will receive the updated syllabus and textbook list prior to
More informationNew York University Leonard N. Stern School of Business
New York University Leonard N. Stern School of Business Corporate Finance Professor Edward I. Altman B40.2302 Winter-Spring 2003 W 6:00-8:50 pm Room: KMC 1-70 Description This course combines what is traditionally
More informationCorporate Finance in Central Europe. Povinně volitelný (B): EKMBP FF, EKMBP FF (English)
SYLLABUS OF SUBJECT FULL-TIME STUDY Silesian University in Opava School of Business Administration in Karvina Expiry date of accreditation Subject unit code PCOF Department code FIN Subject name Corporate
More informationInternational Journal of Economics and Finance Vol.1, Issue 2, 2013 EFFECT OF COMPETITION ON THE LOAN PERFORMANCE OF DEPOSIT
EFFECT OF COMPETITION ON THE LOAN PERFORMANCE OF DEPOSIT TAKING MICROFINANCE INSTITUTIONS IN KENYA: A CASE OF NAIROBI REGION Mercy Anne Wanjiru Mwangi Student, Jomo Kenyatta University of Agriculture and
More informationIEOR E4403: Quantitative Corporate Finance Fall 2017
IEOR E4403: Quantitative Corporate Finance Fall 2017 Time: Wednesdays, 4:10pm - 5:40pm Holiday: Nov 22, 2017 Location: 329 Pupin Professor: Rodney Sunada-Wong rs3730@columbia.edu by apptmt TA s: TBD CA
More informationUniversitat Pompeu Fabra
Universitat Pompeu Fabra Plan Docente Financial Management II (20689) Titulación: Grado en Administración y Dirección de Empresas / Grado en Economía Curso: Tercero Trimestre: Segundo (ADE/Economía) Número
More informationUNIVERSIDAD CARLOS III DE MADRID FINANCIAL ECONOMICS
Javier Estrada September, 1996 UNIVERSIDAD CARLOS III DE MADRID FINANCIAL ECONOMICS Unlike some of the older fields of economics, the focus in finance has not been on issues of public policy We have emphasized
More informationSemester / Term: -- Workload: 300 h Credit Points: 10
Module Title: Corporate Finance and Investment Module No.: DLMBCFIE Semester / Term: -- Duration: Minimum of 1 Semester Module Type(s): Elective Regularly offered in: WS, SS Workload: 300 h Credit Points:
More informationThe Optimization of Capital Structure in Maximizing Profit and Corporate Value
Binus Business Review, 8(1), May 2017, 41-47 DOI: 10.21512/bbr.v8i1.1678 P-ISSN: 2087-1228 E-ISSN: 2476-9053 The Optimization of Capital Structure in Maximizing Profit and Corporate Value Kharisya Ayu
More informationChapter 4. Discounted Cash Flow Valuation
Chapter 4 Discounted Cash Flow Valuation 1 Acknowledgement This work is reproduced, based on the book [Ross, Westerfield, Jaffe and Jordan Core Principles and Applications of Corporate Finance ]. This
More informationMASTER THESIS FINANCIAL MANAGEMENT TILBURG UNIVERSITY RAOUL GEURTS S948067
MASTER THESIS FINANCIAL MANAGEMENT TILBURG UNIVERSITY RAOUL GEURTS S948067 Micro Finance Institutions: Does Investing in Latin America s MFI Assets Yield a Positive Value for Western Bond Investors? Tilburg
More informationM E R G E R S & A C Q U I S I T I O NS
M E R G E R S & A C Q U I S I T I O NS Hans BUYSSE COURSE SUMMARY Learning Outcomes This course is intended to provide financial analysts, corporate finance professionals and CFO's with strong fundamentals
More informationDepartment of Management Sciences
The Islamia University of Bahawalpur Pakistan Department of Management Sciences Course Outline Course: Course Code: Credit Hours: 3 Class: Bachelor of Business Administration (BBA) Session & Semester:
More informationINSTITUTE OF BUSINESS ADMINISTRATION BUSINESS FINANCE-1 COURSE OUTLINE Fall 2011
INSTITUTE OF BUSINESS ADMINISTRATION BUSINESS FINANCE-1 COURSE OUTLINE Fall 2011 Instructor: Sana Tauseef Email: sasghar@iba.edu.pk, sanatauseef143@hotmail.com Counseling hours: Main Campus: Tuesdays and
More informationEvaluation of Microfinance Institutions in Ethiopia from the Perspective of Sustainability and Outreach
erd Research article Evaluation of Microfinance Institutions in Ethiopia from the Perspective of Sustainability and Outreach FRAOL LEMMA BALCHA* Tokyo University of Agriculture, Tokyo, Japan Email: fraolgel@gmail.com
More informationMassachusetts Institute of Technology Sloan School of Management. Course Syllabus for A&B
Massachusetts Institute of Technology Sloan School of Management Raman Uppal Finance Theory E52-410; 253-7159 Spring 1998 Course Description Course Syllabus for 15.415-A&B This course covers modern capital
More informationCorporate Finance.
Finance 100 Spring 2008 Dana Kiku kiku@wharton.upenn.edu 2335 SH-DH Corporate Finance The objective of this course is to provide a rigorous introduction to the fundamental principles of asset valuation,
More informationBank Concentration and Financing of Croatian Companies
Bank Concentration and Financing of Croatian Companies SANDRA PEPUR Department of Finance University of Split, Faculty of Economics Cvite Fiskovića 5, Split REPUBLIC OF CROATIA sandra.pepur@efst.hr, http://www.efst.hr
More informationPerformance Analysis of Commercial Banks Providing Microfinance in Rural Areas of Maharashtra
Performance Analysis of Commercial Banks Providing Microfinance in Rural Areas of Maharashtra Ms. Mrinal Savyanavar, Dr. Pankaj Trivedi Assistant Professor, Bharati Vidyapeeth's Institute of Management
More informationThe Sustainability and Outreach of Microfinance Institutions
The Sustainability and Outreach of Microfinance Institutions Jaehun Sim and Vittaldas V. Prabhu The Harold and Inge Marcus Department of Industrial and Manufacturing Engineering, 310 Leonhard Building,
More information5) Securities and Exchange Board of India (SEBI) Guidelines (Limited up to Disclosure
SYBFM SEMESTER - IV BUSINESS LAW 1) The Companies Act, 1956 Section I to section 390. 2) Securities Contracts (Regulation) Act, 1956. 3) Foreign Exchange Management Act, (FEMA) 1999. 4) Depositories Act.
More informationWhat Type of Microfinance Institutions Supply Savings Products?
What Type of Microfinance Institutions Supply Savings Products? Anastasia Cozarenco, Marek Hudon and Ariane Szafarz Recent evidence shows that the poor desperately need access to savings products. But
More informationFINANCE (FM250) Course content is subject to change. Last updated: December 2017
FINANCE (FM250) Course duration: 54 hours lecture and class time (Over three weeks) Summer School Programme Area: Finance LSE Teaching Department: Department of Finance Lead Faculty (session one): Dr Dong
More informationINTRODUCTION TO FINANCE
INTRODUCTION TO FINANCE Duration: 40 hours (6 ECTS) Required material: the reference book and a financial calculator OBJECTIVES: This course serves as an introduction to the world of finance. We will emphasize
More informationFinance Dissertation Topics The Rapid development of international micro-finance. Micro-finance in the UK banking industry. The demand for collective
Finance Dissertation Topics The Rapid development of international micro-finance. Micro-finance in the UK banking industry. The demand for collective investment schemes in the UK; A strategic analysis,
More informationPREREQUISITES JUSTIFICATION
Profession MBA Program GBA 546 Fundamentals of Financial Management Section P200 CRN: 13778 Winter Quarter 2006 Tuesday: 6:00-9:50 p.m. P. Sarmas www.csupomona.edu/~psarmas CATALOG DESCRIPTION: Theoretical
More informationChristina 1 ; Johan Halim 2 ABSTRACT
ANALYSIS OF RELATIONSHIPS BETWEEN DETERMINANTS OF CAPITAL STRUCTURE ACROSS INDUSTRIES AT JAKARTA STOCK EXCHANGE Christina 1 ; Johan Halim 2 ABSTRACT There are several objectives to be accomplished in this
More informationSyllabus Number of weeks 14, Number of hours per week 3,00 of which
Syllabus 1. Programme information 1.1. Institution THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES 1.2. Faculty BUCHAREST BUSINESS SCHOOL 1.3. Department ECONOMIC DEVELOPMENT OF THE COMPANY 1.4. Field of
More informationDr. Luca Gelsomini ( Dr. Vladimir N. Sokolov (
ICEF, Higher School of Economics, Moscow Master Programme, Academic Year 2016-2017 Banking Course Syllabus 0. Lecturers Dr. Luca Gelsomini (e-mail: lgelsomini@hse.ru) Dr. Vladimir N. Sokolov (e-mail: vsokolov@hse.ru)
More informationUsing Balance Sheets for Fiscal Analysis and Policymaking Amanda Sayegh Fiscal Affairs Department International Monetary Fund
Using Balance Sheets for Fiscal Analysis and Policymaking Amanda Sayegh Fiscal Affairs Department International Monetary Fund Meeting of the IMF GFS Advisory Committee Washington, D.C. March 14, 2017 Overview
More informationCentral European University Department of Economics. 5. Pre-Requisites: For second year economics MA students and PhD students micro and macro.
Central European University Department of Economics 1. Name of Course: Financial Institutions and Intermediation 2. Lecturer: Steven Plaut 3. Number of Credits: 2 CEU Credits 4. Semester or Time Period
More informationChapter 3 Financial Statements Analysis
Chapter 3 Financial Statements Analysis 1 Acknowledgement This work is reproduced, based on the book [Ross, Westerfield, Jaffe and Jordan Core Principles and Applications of Corporate Finance ]. This work
More informationDr. Syed Tahir Hijazi 1[1]
The Determinants of Capital Structure in Stock Exchange Listed Non Financial Firms in Pakistan By Dr. Syed Tahir Hijazi 1[1] and Attaullah Shah 2[2] 1[1] Professor & Dean Faculty of Business Administration
More informationThe potential of index based weather insurance to mitigate credit risk in agricultural microfinance
The potential of index based weather insurance to mitigate credit risk in agricultural microfinance Niels Pelka & Oliver Musshoff Department for Agricultural Economics and Rural Development Georg-August-Universitaet
More informationCorporate Finance (Honors) Finance 100 Sections 301 and 302 The Wharton School, University of Pennsylvania Fall 2010
Corporate Finance (Honors) Finance 100 Sections 301 and 302 The Wharton School, University of Pennsylvania Fall 2010 Course Description The purpose of this course is to introduce techniques of financial
More informationThe homework assignment reviews the major capital structure issues. The homework assures that you read the textbook chapter; it is not testing you.
Corporate Finance, Module 19: Adjusted Present Value Homework Assignment (The attached PDF file has better formatting.) Financial executives decide how to obtain the money needed to operate the firm:!
More informationAdvanced Corporate Finance Exercises Session 1 «Pre-requisites: a reminder»
Advanced Corporate Finance Exercises Session 1 «Pre-requisites: a reminder» Professor Kim Oosterlinck E-mail: koosterl@ulb.ac.be Teaching assistants: Nicolas Degive (ndegive@ulb.ac.be) Laurent Frisque
More informationB.A. in Economics, Bosphorus University (formerly Robert College, Istanbul, Turkey), June 1983.
The World Bank 1818 H. St. MC 3-445 Washington D.C. 20433 Phone: (202) 473-7479 Fax: (202) 522-1155 E-mail: Ademirguckunt@WorldBank.org ASLI DEMIRGUC-KUNT Educational background: Ph.D. in Economics, Ohio
More informationCorporate Finance (Honors) Finance 100 Sections 301 and 302 The Wharton School, University of Pennsylvania Fall 2014
Corporate Finance (Honors) Finance 100 Sections 301 and 302 The Wharton School, University of Pennsylvania Fall 2014 Course Description The purpose of this course is to introduce techniques of financial
More informationASLI DEMIRGUC-KUNT. Senior Research Manager, Finance and Private Sector Development, World Bank, September present.
The World Bank 1818 H. St. MC 3-445 Washington D.C. 20433 Phone: (202) 473-7479 Fax: (202) 522-1155 E-mail: Ademirguckunt@WorldBank.org ASLI DEMIRGUC-KUNT Educational background: Ph.D. in Economics, Ohio
More informationTHE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF BANKING AND FINANCE
THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF BANKING AND FINANCE SESSION 1, 2005 FINS 4774 FINANCIAL DECISION MAKING UNDER UNCERTAINTY Instructor Dr. Pascal Nguyen Office: Quad #3071 Phone: (2) 9385 5773
More informationLahore University of Management Sciences. FINN 400 Applied Corporate Finance
FINN 400 Applied Corporate Finance Spring 2013 Instructor Dr. Fazal Jawad Seyyed, CFA Room No. 208 SDSB Office Hours TBA Email fazal.jawad@lums.edu.pk Telephone 042-3560-8030 Secretary/TA Saleem A. Khan
More informationTHE POVERTY PENALTY AND MICROCREDIT
Gutierrez-Nieto, B.; Serrano-Cinca, C; Cuellar-Fernández, B and Fuertes-Callén, Y. (2016): The poverty penalty and microcredit, Social Indicators Research, in press THE POVERTY PENALTY AND MICROCREDIT
More informationHosts: Vancouver, British Columbia, Canada June 16-18,
Hosts: Vancouver, British Columbia, Canada June 16-18, 2013 www.iarfic.org How flexible repayment schedules affect credit risk in microfinance Ron Weber 1,2, Oliver Musshoff 1, and Martin Petrick 3 1 Department
More informationPOVERTY PENALTY AND MICROCREDIT
POVERTY PENALTY AND MICROCREDIT Carlos Serrano-Cinca Begoña Gutiérrez-Nieto* Beatriz Cuéllar-Fernández Yolanda Fuertes-Callén Department of Accounting and Finance University of Zaragoza, Spain Gran Vía
More informationAre NGO MFIs Successful? A Comparison between India and Bangladesh
Asian Journal of Managerial Science ISSN: 2249-6300 Vol. 6 No. 1, 2017, pp.44-52 The Research Publication, www.trp.org.in Are NGO MFIs Successful? A Comparison between and R. Rupa Associate Professor SCMS
More informationFIN CORPORATE FINANCE Spring Office: CBA 6.246, Phone: ,
FIN 395.5 CORPORATE FINANCE Spring 2018 Instructor: Aydoğan Altı Office: CBA 6.246, Phone: 232-9374, Email: aydogan.alti@mccombs.utexas.edu Office Hours: Wednesdays 1:00 pm to 2:00 pm Course Description
More informationAdvanced Corporate Finance
Advanced Corporate Finance. Introduction r. Benjamin Lorent E-mail: blorent@ulb.ac.be We thank rof. Kim OOSTERLINCK and rof. André FARBER for kindly sharing initial teaching material. r. Benjamin Lorent
More informationAdvanced Development Economics: Credit and Micro nance. 22 October 2009
1 Advanced Development Economics: Credit and Micro nance Måns Söderbom 22 October 2009 2 1 Introduction Today we follow up on the issue, introduced last time, of the role of credit in economic development.
More informationNEW YORK UNIVERSITY. Stern School of Business. Corporate Finance Topics Eli Ofek Fall 2005
NEW YORK UNIVERSITY Stern School of Business Corporate Finance Topics Eli Ofek Fall 2005 Course number: C15.0008 Office Room 908 Tisch Hall Telephone: 998-0356 Fax: 995-4233 Email: eofek@stern.nyu.edu
More informationDeterminants of capital structure: Evidence from the German market
Determinants of capital structure: Evidence from the German market Author: Sven Müller University of Twente P.O. Box 217, 7500AE Enschede The Netherlands This paper investigates the determinants of capital
More informationSCHOOL OF BANKING AND FINANCE. FINS5530 Financial Institutions Management Session 2, 2004
SCHOOL OF BANKING AND FINANCE FINS5530 Financial Institutions Management Session 2, 2004 Course Objectives The unifying theme in this subject is the application of modern finance and international business
More informationCapital Structure and Financial Performance: Analysis of Selected Business Companies in Bombay Stock Exchange
IOSR Journal of Economic & Finance (IOSR-JEF) e-issn: 2278-0661, p- ISSN: 2278-8727Volume 2, Issue 1 (Nov. - Dec. 2013), PP 59-63 Capital Structure and Financial Performance: Analysis of Selected Business
More informationThe Impact of Socioeconomic Factors and Financial Access on Microfinance Institutions
The Impact of Socioeconomic Factors and Financial Access on Microfinance Institutions Moh d Al-Azzam Associate Professor of Economics School of Business Administration, American University in Dubai P.O.
More informationECON-332: Money, Banking, and Finance in the Global Economy. Prof. Martha Starr Department of Economics American University Fall 2009
ECON-332: Money, Banking, and Finance in the Global Economy Prof. Martha Starr Department of Economics American University Fall 2009 Telephone: (202) 885-3747 Office: Roper Hall 201 Office hours: Tuesdays
More informationPROGRAM. Program: Economics
Program: Economics A. FINANCIAL ECONOMICS 1. Financial Markets and Instruments Definition of financial market and its role. Structure and main participants of financial market. Types of financial market.
More informationUniversity of Texas at Dallas School of Management
University of Texas at Dallas School of Management Finance 6301 Professor Yexiao Xu Financial Management Spring 2005 Course Objectives: Course Syllabus Financial management can be broadly defined as how
More informationSyllabus FIN 540 Corporate Finance I Fall Semester 2015
Syllabus FIN 540 Corporate Finance I Fall Semester 2015 Course Outline Week Type Topics covered 1 Lecture 1 Introduction, Shareholder Value Models, and the Modigliani-Miller-Theorems Revisited 2 Lecture
More informationTHE UNIVERSITY OF NEW SOUTH WALES
THE UNIVERSITY OF NEW SOUTH WALES FINS 5574 FINANCIAL DECISION-MAKING UNDER UNCERTAINTY Instructor Dr. Pascal Nguyen Office: #3071 Email: pascal@unsw.edu.au Consultation hours: Friday 14:00 17:00 Appointments
More informationNUS Business School. FIN2004X Finance. Semester II 2013/2014
NUS Business School FIN2004X Finance Semester II 2013/2014 COURSE INSTRUCTOR: Dr. Jumana Zahalka COURSE TUTORS: Name of Tutor Ms Irene Yap Mr Chong Lock Kuah NUS Email Account fnbv24@nus.edu.sg fnbv27@nus.edu.sg
More informationNUS Business School. FIN2004X Finance. Semester I 2014/2015
NUS Business School FIN2004X Finance Semester I 2014/2015 COURSE INSTRUCTOR: Dr. Jumana Zahalka COURSE TUTORS: Name of Tutor To Be Announced NUS Email Account To Be Announced COURSE DESCRIPTION This course
More informationA literature review of the trade off theory of capital structure
Mr.sc. Anila ÇEKREZI A literature review of the trade off theory of capital structure Anila Cekrezi Abstract Starting with Modigliani and Miller theory of 1958, capital structure has attracted a lot of
More informationStudy (s) Degree Center Acad. Period Doble Grado en Turismo y ADE FACULTY OF ECONOMICS 3 Second term
COURSE DATA Data Subject Code 35805 Name Investment theory Cycle Grade ECTS Credits 6.0 Academic year 2016 2017 Study (s) Degree Center Acad. Period year 1313 Grado de Administración y FACULTY OF ECONOMICS
More informationTHE EFFECT OF MICROFINANCE INSTITUTIONS ACTIVITIES ON ECONOMIC GROWTH IN ARAB COUNTRIES
THE EFFECT OF MICROFINANCE INSTITUTIONS ACTIVITIES ON ECONOMIC GROWTH IN ARAB COUNTRIES Lubna Sameer Khalaf, Freelance Researcher, Amman, Jordan Nahil Ismail Saqfalhait, The University of Jordan, Amman,
More informationCHAPTER 2 LITERATURE REVIEW. Modigliani and Miller (1958) in their original work prove that under a restrictive set
CHAPTER 2 LITERATURE REVIEW 2.1 Background on capital structure Modigliani and Miller (1958) in their original work prove that under a restrictive set of assumptions, capital structure is irrelevant. This
More informationCOMMENTS ON: BECK, DEMIRGÜÇ-KUNT & LEVINE, FINANCE, INEQUALITY AND THE POOR
POLICY OPTIONS AND CHALLENGES FOR DEVELOPING ASIA PERSPECTIVES FROM THE IMF AND ASIA APRIL 19-20, 2007 TOKYO COMMENTS ON: BECK, DEMIRGÜÇ-KUNT & LEVINE, FINANCE, INEQUALITY AND THE POOR NOBUHIKO FUWA CHIBA
More informationAlejandra Medina Office Hours: Monday/Wednesday 13:00-14:00 Office Hours: by appointment.
CAPITAL BUDGETING BAFI503 PERIOD 3 2011 Instructor: Teaching Assistant: Kai Li Alejandra Medina DL-530 Alejandra.Medina@sauder.ubc.ca kai.li@sauder.ubc.ca Office Hours: Monday/Wednesday 13:00-14:00 Office
More informationDoes Pakistani Insurance Industry follow Pecking Order Theory?
Does Pakistani Insurance Industry follow Pecking Order Theory? Naveed Ahmed* and Salman Shabbir** *Assistant Professor, Leads Business School, Lahore Leads University, Lahore. and PhD Candidate, COMSATS
More informationSyllabus for Corporate Valuation Cases in Mergers and Acquisitions
Syllabus for Corporate Valuation Cases in Mergers and Acquisitions Lecturer: Vyacheslav Ivanov Class teacher: Vyacheslav Ivanov Teaching Assistant: Denis Derushkin Course Description Corporate Valuation
More informationSyllabus for Corporate Valuation Cases in Mergers and Acquisitions
Syllabus for Corporate Valuation Cases in Mergers and Acquisitions Lecturer: Vyacheslav Ivanov Class teacher: Vyacheslav Ivanov Course Description Corporate Valuation Cases is a one-semester course which
More informationTHE DETERMINANT OF A FIRM OPTIMUM CAPITAL STRUCTURE: CONCEPTUAL AND THEORETICAL OVERVIEW. Ajao, Mayowa Gabriel
THE DETERMINANT OF A FIRM OPTIMUM CAPITAL STRUCTURE: CONCEPTUAL AND THEORETICAL OVERVIEW Ajao, Mayowa Gabriel Abstract This paper provides a conceptual and theoretical overview of the determinant of optimum
More informationThe differences in capital structure between the G-7 countries and the E-7 countries
The differences in capital structure between the G-7 countries and the E-7 countries How the determinants of the capital structure influence the differences in capital structure between the G-7 and the
More informationJEM034 Corporate Finance Winter Semester 2017/2018
JEM034 Corporate Finance Winter Semester 2017/2018 Lecture #9 Olga Bychkova Topics Covered Today Does debt policy matter? (chapter 17 in BMA) How much should a corporation borrow? (chapter 18 in BMA) Debt
More informationBACHELOR IN ECONOMICS SECOND YEAR
BACHELOR IN ECONOMICS SECOND YEAR Course Finances Code 802359 Module Transversal Education Area Nature Credits 6 Compulsory Attendance 2,7 Non Attendance 3,3 Year 2 Semester 4 Business Management Economía
More informationMicrofinance Structure of Thailand *
Chinese Business Review, ISSN 1537-1506 December 2013, Vol. 12, No. 12, 807-813 D DAVID PUBLISHING Microfinance Structure of Thailand * Ravipan Saleepon Srinakarinwirot University, Bangkok, Thailand This
More informationFINANCE 611: CORPORATE FINANCE
FINANCE 611: CORPORATE FINANCE FALL 2016 Prof. Michael R. Roberts Office: 2319 Steinberg Hall-Dietrich Hall Email: mrrobert@wharton.upenn.edu Office Phone: (215) 573-9780 Office hours: By Appointment Course
More informationHarvard Business Publishing Website (noted by HBS in Schedule below).
Finance 757-Entrepreneurial Finance Fall 2012 Phil Greenwood, CPA, PhD Monday 1:00 2:15, 2335 Grainger Contact: pgreenwood@bus.wisc.edu, office: 5252 Grainger BACKGROUND: This course has the objective
More informationChapter 15. Chapter 15 Overview
Chapter 15 Debt Policy: The Capital Structure Decision Chapter 15 Overview Target and Optimal Capital Structure Risk and Different Types of Financing Business Risk Financial Risk Determining the Optimal
More informationFinance for Management and Organizational Studies MOS3310A Section 650 COURSE DESCRIPTION COURSE PREREQUISITES TEACHING MATERIALS INSTRUCTOR
Finance for MOS3310A Section 650 Course Outline: Fall 2010 COURSE DESCRIPTION The concepts developed in MOS3310 form the foundation for all elective finance courses. The main topics include: 1) an overview
More informationCapital Structure Antecedents: A Case of Manufacturing Sector of Pakistan
Capital Structure Antecedents: A Case of Manufacturing Sector of Pakistan Sajid Iqbal 1, Nadeem Iqbal 2, Najeeb Haider 3, Naveed Ahmad 4 MS Scholars Mohammad Ali Jinnah University, Islamabad, Pakistan
More informationDeterminants of Capital Structure: A Comparative Analysis of Textile, Chemical & Fuel and Energy Sectors of Pakistan ( )
Determinants of Capital Structure: A Comparative Analysis of Textile, Chemical & Fuel and Energy Sectors of Pakistan (2001-2006) SAMRA KIRAN Lecturer City University of Science and Information Technology
More informationUnderstanding Rural Finance Issues and the Macro and Micro Operating Environment. Module 2 Rural Finance & Microfinance Actors and approaches
Understanding Rural Finance Issues and the Macro and Micro Operating Environment Module 2 Rural Finance & Microfinance Actors and approaches Rural and Agricultural Finance Module 2 Agenda Block 1 Introductions
More informationAnalysis of the determinants of Capital Structure in sugar and allied industry
Analysis of the determinants of Capital Structure in sugar and allied industry Abstract Tariq Naeem Awan Independent Researcher, Islamabad, Pakistan Prof. Majed Rashid Professor of Management Sciences,
More informationTechnical analysis of selected chart patterns and the impact of macroeconomic indicators in the decision-making process on the foreign exchange market
Summary of the doctoral dissertation written under the guidance of prof. dr. hab. Włodzimierza Szkutnika Technical analysis of selected chart patterns and the impact of macroeconomic indicators in the
More informationMACQUARIE UNIVERSITY
MACQUARIE UNIVERSITY Division of Economic and Financial Studies ECON210 PUBLIC ECONOMICS http://learn.mq.edu.au/pub/econ210/ Course Outline 2008 Second Semester Prepared by Dr Pundarik Mukhopadhaya ECON
More informationThe Strategy for Development of the. Microfinance Sector in Sudan. A Central Bank Initiative
The Strategy for Development of the Microfinance Sector in Sudan A Central Bank Initiative Abda Y. El-Mahdi Managing Director Unicons Consultancy Ltd. The Status of the Microfinance Sector in Sudan A growing
More informationCapital Structure and Survival Dynamic of Business Organisation: The Earnning Approach
International Review of Social Sciences and Humanities Vol. 6, No. 1 (2013), pp. 13-18 www.irssh.com ISSN 2248-9010 (Online), ISSN 2250-0715 (Print) Capital Structure and Survival Dynamic of Business Organisation:
More informationSyllabus. Microfinance MOEC0265: Fall semester Department of Banking and Finance Center for Microfinance
Department of Banking and Finance Center for Microfinance MOEC0265: Microfinance Syllabus Fall semester 2015 Dr. Annette Krauss Managing Director, Center for Microfinance E-mail: annette.krauss@bf.uzh.ch
More informationRelationship Between Capital Structure and Firm Performance, Evidence From Growth Enterprise Market in China
Management Science and Engineering Vol. 9, No. 1, 2015, pp. 45-49 DOI: 10.3968/6322 ISSN 1913-0341 [Print] ISSN 1913-035X [Online] www.cscanada.net www.cscanada.org Relationship Between Capital Structure
More informationFINANCE 402 Capital Budgeting and Corporate Objectives. Syllabus
FINANCE 402 Capital Budgeting and Corporate Objectives Course Description: Syllabus The objective of this course is to provide a rigorous introduction to the fundamental principles of asset valuation and
More informationTHE POVERTY EFFECTS OF MICROFINANCE UNDER SELF-HELP GROUP BANK LINKAGE PROGRAMME MODEL IN INDIA
THE POVERTY EFFECTS OF MICROFINANCE UNDER SELF-HELP GROUP BANK LINKAGE PROGRAMME MODEL IN INDIA BY ATUL MEHTA A THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE FELLOW PROGRAMME IN MANAGEMENT
More information