Analysis of Financial Time Series Third Edition RUEY S. TSAY The University of Chicago Booth School of Business Chicago‚ IL A JOHN WILEY & SONS‚ INC.‚ PUBLICATION Analysis of Financial Time Series WILEY SERIES IN PROBABILITY AND STATISTICS Established by WALTER A. SHEWHART and SAMUEL S. WILKS Editors: David J. Balding‚ Noel A. C. Cressie‚ Garrett M. Fitzmaurice‚ Iain M. Johnstone‚ Geert Molenberghs‚ David W. Scott‚ Adrian F. M. Smith‚ Ruey S. Tsay‚ Sanford Weisberg Editors Emeriti:
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themselves to grow more robustly in an increasingly volatile global economy. The supply chain operation is fundamental to the success of any organization. It is critical to a company’s ability to manage global operations‚ supply and demand volatility‚ the accelerated pace of new product and services introductions‚ and sustainability. Thus‚ risk management is now a key consideration when designing and operating supply chains and is assessed by organizations alongside other critical areas
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Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures Prepared By: Danial Wahaj Khan EXECUTIVE SUMMARY: This report is based on a practical scenario solution of General motors. The report addresses the problem given in scenario which is the change in policy of hedging with detailed reasoning. The report then looks at the different available hedging instruments to the firm. Profitability of both instruments has been compared and lowest cost option was
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CASE ANALYSIS PETROLERA ZUATA‚ PETROZUATA C.A PETROLERA ZUATA (PETROZUATA) CASE ANALYSIS: Q1. HOW SHOULD PDVSA FINANCE THE DEVELOPMENT OF THE ORINOCO BASIN? WHAT ARE THE COSTS AND BENEFITS OF USING PROJECT FINANCE INSTEAD OF TRADITIONAL DEBT FINANCE? Soln. PDVSA should go for project financing for the development of the Orinoco basin. PDVSA is not looking for financing of one deal‚ but at a chain of many deals which would be a public- private partnership between PDVSA and a foreign organization
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gasoline‚ natural gas‚ diesel fuel‚ ethanol‚ methanol‚ coal‚ etc. The costs and efficiency of transportation fuels are considerable interest. (Joseph Sussman; Introduction to Transportation Systems; Transportation System Components; 2000). Fuel price volatility along with overall price increases has been an issue with transportation carriers‚ airlines‚ and even some water carriers and is a continuing challenge to the financial viability‚ causing some carriers to file for bankruptcy. Overall‚ it can be
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of the stock price and its potential effects. Vital to the valuation of the offer is the computation of the volatility of BP’s stock price. To get this‚ we computed for the volatility of the stock price of BP for the last month (October 1987). We decided to get the continuously compounded rate to get the variance and annualized it to get the volatility of 0.6106. Using this volatility figure we were able to compute the “up” and “down” using the following formulas: u = eÓ*√T/260 d = e-Ó*√T/260
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the value of stock option by using Black - Scholes Model. We know that the stock is currently trading at $18.75 and the exercise price is $35. We take the 5 year T-bill rate 6.02% as the risk free rate. From the Exhibit 2‚ we can calculate the volatility of Telstar stock return is around 27.65%. Plug them into the formula‚ the call option price will be 2.53. At this amount‚ Sally’s options would be presently worth 2.53 * 3000 = 7590. She is better off taking the option. 2. How should we factor
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CAPITAL STRUCTURE DETERMINANTS THE CASE OF THE KENYAN BANKING INDUSTRY TABLE OF CONTENTS 1. INTRODUCTION Capital structure refers to the mix of debt and equity which a firm uses to finance its operations. Many theories have been formulated with regard to whether there exists an optimal capital structure mix and the role the various determinants of capital structure play in deciding the mix. The Modern theory of capital structure began with Modigliani and Miller in 1958 (Harris
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and acts as a buyer or seller to bring the markets back into equilibrium. By centralizing order flow and giving public orders priority‚ investors trade on a level playing field and achieve the best price available. Trading is more orderly so price volatility is reduced‚ spreads are narrower‚ and execution costs are lower. A single specialist firm‚ chosen by the listed company at time of listing‚ has an affirmative obligation to make a fair and orderly market in the company’s stock. No Nasdaq market
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but how effective was the period of the Personal rule and had Charles succeeded in governing effectively and financially. Upon Buckingham’s dispersal‚ many former enemies of the King had made peace with him and entered his service. The Dukes of Arundel and Bristol‚ who had been against Buckingham in the House of Lords had decided that Parliament had gone too far in imposing the King and took up positions at Court. The death of the Duke of Buckingham had deeply affected Charles and the King had become
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