Introduction The current regulatory structure in Hong Kong 3. Hong Kong’s current approach to regulation can be characterized as institutional with functional aspects. This means that the firm’s legal status (bank‚ broker or insurance company) determines which regulator is responsible for supervising its activities from both a prudential and conduct of business perspective. However‚ this has been modified in Hong Kong to allow for the fact that banks are conducting a broader range of financial
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Homework 2 Solution‚ Fin 500Q‚ Quantitative Risk Management 1. Assume gold price risk is diversifiable‚ and the riskless rate is 5%. A firm produces a unit of gold a year from today. Assume all interest is compounded annually and is tax deductible. The price of gold is either $500 or $200‚ each with probability 0.5. Suppose the firm pays taxes at a rate of 40% for all its cash flow in excess of $300. The value of the firm is the expected discounted value of its cash flow less the expected discounted value
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498 Assignment 4 Spring 2013 Due Date: March 26‚ 2013 1. Consider the Luxury Seaside Hotel Risk Management case you put together in your previous assignment. Answer the following questions regarding each one of the risk sources you have identified (at least 4). i) If you desired to follow a statistical approach in the assessment of the risk‚ what hard data would you need‚ what hard data do you think would be available‚ what near accident data could be used to support the available
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Risk Management Plan No indoor pyro/flare According to one of the witness‚ “Someone from the crowd tossed a flare and there were immediately flames.” (Joyner‚ 2004). “The blaze started when a flare ignited the flammable foam celling‚ sending burning debris and smoke into the crowd.” ( Carroll‚ 2011). Indoor pyro/flare should not be tolerated in venues such as concerts‚ bands. Club operators should consider audience safety to be part of their responsibility and neither engage in‚ nor tolerate
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The auditors should have raised concerns over several fraud risk factors that were present. There was a perceived ethical disconnect between JP Morgan’s Code of Conduct and the “tone at the top” that upper management created. Jamie Dimon built an environment that allowed employees to do practically anything to achieve more impressive earnings. A special group was permitted to function outside the established business standards. According to Spoehr (2012)‚ this group included individuals with
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Analysis of Unilever’s Risks and Risk Management Strategies Introduction With the rapid development of modern economy‚ companies are always exposed to risks which are penetrating to all walks of life and not only exist in the products market‚ but also exist in financial market (Ballou‚ 2005). It is undoubtedly that risks jeopardize the company’s development in that they may increase the cost of a company’s operation and make it harder for a company to make a crucial decision. Accordingly‚ it is
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John Pierpont Morgan is considered one of the founding fathers of the modern United States economy. He was an industrial genius that is accredited with the founding of many companies including General Electric and AT&T. However‚ Pierpont is looked upon as a saint and demon the same. He received a honorary degree from Harvard university that read: "Public citizen‚ patron of literature and art‚ prince among merchants‚ who by his skill‚ wisdom and courage‚ has twice in times of stress repelled
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Kinder Morgan - MBO Richard Kinder and Bill Morgan purchased a master limited partnership pipeline company from Enron for $40 million in 1997‚ founding Kinder Morgan‚ Inc. (KMI) 1. The primary benefit of an MLP comes in the form of tax savings. While shareholders in a corporation face double taxation‚ owners of a partnership are taxed only once (when receiving distributions). Corporate income tax does not exist in the partnership. When cash distributions to MLP owners exceed
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Women Business Leader in an Emerging Market: Robin Chase Transportation Innovator and Car Sharing Entrepreneur Robin Chase‚ a social entrepreneur and strong believer in a collaborative economy‚ believes that sharing resources with the help of technology can reduce carbon emissions and serve a market gap in the world’s urban cities. Robin has started three companies that have changed the way people in metropolitan cities around the world commute‚ go shopping‚ take weekend vacations and travel
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want. There is a big difference of things we need and what we want. We need something like water‚ but we want stuff like jewelry. There are a lot of examples in stories of people being simplistic and not being greedy. In the story “The Thrill of the Chase” there is a man who is very wealthy and finds out he has cancer. He has over 3 million dollars’ worth of artwork‚ and his friend wants it. He tells his friend no because he wants his friend to find the artwork. The man puts the artwork in a chest and
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