Agenda 1 2 3 4 5 International Capital Structure and the Cost of Capital Analyzing Cost of Capital among Countries Cross Border Listing of Stocks International Asset Pricing Model (IAPM) The Financial Structure of Subsidiaries Case Analysis - AES Corporation 6 International Capital Structure and the Cost of Capital Your Logo International Capital Structure and the Cost of Capital • Firms are becoming multinational in both scope AND in capital structure • Fully integrated financial
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well and expanding at a high rate one must put into consideration the risks that ascertain that particular business. In the case of the AES‚ the founders did not put much consideration into their expanding business to the overseas accounts. Their main undoing was the assumption of the risks involved as same as in the U.S as it were in the foreign countries. The AEs had its majority revenues linked to overseas operations with approximately one-third coming from South America alone. Since the company
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GRADUATE SCHOOL OF BUSINESS STANFORD UNIVERSITY S HR-3 FEBRUARY 1997 HUMAN RESOURCES AT THE AES CORPORATION: THE CASE OF THE MISSING DEPARTMENT Dennis Bakke‚ the CEO of AES‚ a company that develops‚ builds and operates electric power plants‚ sat in his office late in 1996 and thought about the question that was perennially posed to him: could AES‚ soon to have some 25‚000 people located literally all over the world following a recent purchase of power plants in Kazakhstan‚ continue to operate
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1. How would you evaluate the capital budgeting method used historically by AES? What’s good and bad about it? Historically‚ the AES capital budgeting method primarily used the following assumptions: • All nonrecourse debt was regarded as good • Dividend cash flow were considered equally risky • Project was evaluated by the equity discount rate for the dividends from the project • A 12% discount rate was applied to all projects. The historical method is quite simplistic
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Located in West Africa and bordering the Atlantic‚ Nigeria is a big country that occupies 356‚667 square miles with a total population of 168 million. Nigeria is abundant in natural resources like coal‚ gold‚ lead‚ iron‚ salt‚ copper‚ and zinc‚ but it is best known as a big producer of oil. Thanks to its size‚ population‚ and resources‚ Nigeria is dubbed as “the giant of Africa” (Falola‚ 4). According to World Bank Data of 2010‚ Nigeria has an annual percentage growth rate as 8.0%‚ one of the world’s
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Title : AES Shouldn’t Be Abolished AES‚ also known as the Automated Enforcement System‚ the main purpose of the invention of AES is to reduce the rising rate of road accidents. Car accident or crashing often occurs due to speeding and red-light violation. The AES is a system that able to sense and capture the car that exceeds the designated speed limit for a specified stretch of road or drives through a red light (typically at an intersection) then the AES camera will be triggered to capture
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NIGERIA INTRODUCTION Hello‚ my name is Mesoma Ejeh and I’ll be talking about Nigeria. Off all the feautures of Nigeria that acronym missed a very important one.It’s my home.Probably 98% of this class knows little to nothing about Nigeria so I will cover our foods and drinks‚our people and culture‚our fashion and its impact to the world and Nigeria’s location‚season‚weather and cilmate. For Starters Nigeria is in west Africa.North of Nigeria would be Niger‚ south‚ the Atlantic Ocean and the
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http://peoplesdailyng.com/changing-nigerians-identity-diaspora/ http://olorisupergal.com/nigeria-rich-country-poor-people-by-gbenga-ogunbiyi/#.UpH2I9Lik8o Nigeria is a member of both the Commonwealth of Nations‚ and the African Union. LANGUAGE There are hundreds of languages spoken in Nigeria. The official language of Nigeria‚English The languages spoken in Nigeria are said to be 521. The official language is English while the major ones that are spoken are Hausa‚ Igbo‚ Yoruba and
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NIGERIA The Federal Republic of Nigeria comprises thirty six states and its Federal Capital Territory is Abuja. Nigeria is located in West Africa and shares land borders with the Republic of Benin in the west‚ Chad and Cameroon in the east‚ and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean. The Flag The flag of Nigeria consists of three equal sized vertical stripes - the right and left stripe are green; and the middle stripe is white. The Nigerian
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1. Describe AES’s organizational structure? What are its authority structures and control processes? What role do values play in this structure? AES organization has developed a unique decentralized “honeycomb” structure (See Exhibit 1) based on its core values. Their innovative authority structure empowered people at every organizational level to make decisions and take responsibilities according to the business needs. It helped company to achieve flexibility and accelerate decision-making
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