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u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/27979650/Shedding_light_on_microfinance_equity_valuation_past_and_present">Shedding light on microfinance equity valuation : past and present</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This report is the result of a collaboration between CGAP and J.P. Morgan. CGAP is solely responsible for the printing and distribution of this Occasional Paper. CGAP is not affiliated with J.P. Morgan. Our objective is to provide... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_27979650" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This report is the result of a collaboration between CGAP and J.P. Morgan. CGAP is solely responsible for the printing and distribution of this Occasional Paper. CGAP is not affiliated with J.P. Morgan. Our objective is to provide benchmarks for valuation of microfinance equity, both private and publicly listed. Our analysis is based on two datasets: a sample of 144 private equity transactions, which represents the largest such dataset gathered to date, and data on 10 publicly traded micro finance institutions (MFIs) and low-income consumer lenders. 1</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/27979650" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="09b68a1f97e824dd8616ef4c1154e77c" rel="nofollow" data-download="{"attachment_id":48282277,"asset_id":27979650,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/48282277/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="52458973" href="https://brown.academia.edu/ElizabethLittlefield">Elizabeth Littlefield</a><script data-card-contents-for-user="52458973" type="text/json">{"id":52458973,"first_name":"Elizabeth","last_name":"Littlefield","domain_name":"brown","page_name":"ElizabethLittlefield","display_name":"Elizabeth Littlefield","profile_url":"https://brown.academia.edu/ElizabethLittlefield?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_27979650 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="27979650"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 27979650, container: ".js-paper-rank-work_27979650", }); 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u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_79851475" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical methods. The Study concluded that there is a strong positive relationship between inflation rate & returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. Finally, the study founds the same average return but a different at variances of this return & the Coefficient of variation.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/79851475" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="ff2ddcc82dc5dd07ef2666187b5cd3da" rel="nofollow" data-download="{"attachment_id":86427013,"asset_id":79851475,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/86427013/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="218148191" href="https://independent.academia.edu/YasminTarek25">Yasmin Tarek</a><script data-card-contents-for-user="218148191" type="text/json">{"id":218148191,"first_name":"Yasmin","last_name":"Tarek","domain_name":"independent","page_name":"YasminTarek25","display_name":"Yasmin Tarek","profile_url":"https://independent.academia.edu/YasminTarek25?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_79851475 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="79851475"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 79851475, container: ".js-paper-rank-work_79851475", }); 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The Study concluded that there is a strong positive relationship between inflation rate \u0026 returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. 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period between “1994-2017”, using descriptive & inferential statistical... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_38351707" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between “1994-2017”, using descriptive & inferential statistical methods. The Study concluded that there is a strong positive relationship between inflation rate & returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/38351707" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="c8109d3d8cdf9e1b37438b88fc4a2edd" rel="nofollow" data-download="{"attachment_id":58404198,"asset_id":38351707,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/58404198/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="6559984" href="https://mti.academia.edu/OsamaWagdi">Osama Wagdi</a><script data-card-contents-for-user="6559984" type="text/json">{"id":6559984,"first_name":"Osama","last_name":"Wagdi","domain_name":"mti","page_name":"OsamaWagdi","display_name":"Osama Wagdi","profile_url":"https://mti.academia.edu/OsamaWagdi?f_ri=1596216","photo":"https://0.academia-photos.com/6559984/2624409/45644899/s65_osama.wagdi.jpg"}</script></span></span><span class="u-displayInlineBlock InlineList-item-text"> and <span class="u-textDecorationUnderline u-clickable InlineList-item-text js-work-more-authors-38351707">+1</span><div class="hidden js-additional-users-38351707"><div><span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a href="https://independent.academia.edu/NihadEdres">Nihad Edres</a></span></div></div></span><script>(function(){ var popoverSettings = { el: $('.js-work-more-authors-38351707'), placement: 'bottom', hide_delay: 200, html: true, content: function(){ return $('.js-additional-users-38351707').html(); 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The Study concluded that there is a strong positive relationship between inflation rate \u0026 returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound.","downloadable_attachments":[{"id":58404198,"asset_id":38351707,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":6559984,"first_name":"Osama","last_name":"Wagdi","domain_name":"mti","page_name":"OsamaWagdi","display_name":"Osama Wagdi","profile_url":"https://mti.academia.edu/OsamaWagdi?f_ri=1596216","photo":"https://0.academia-photos.com/6559984/2624409/45644899/s65_osama.wagdi.jpg"},{"id":103125433,"first_name":"Nihad","last_name":"Edres","domain_name":"independent","page_name":"NihadEdres","display_name":"Nihad Edres","profile_url":"https://independent.academia.edu/NihadEdres?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true},{"id":25112,"name":"Financial Markets","url":"https://www.academia.edu/Documents/in/Financial_Markets?f_ri=1596216","nofollow":true},{"id":36222,"name":"Stock Markets","url":"https://www.academia.edu/Documents/in/Stock_Markets?f_ri=1596216","nofollow":true},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis?f_ri=1596216"},{"id":107062,"name":"Money Market","url":"https://www.academia.edu/Documents/in/Money_Market?f_ri=1596216"},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation?f_ri=1596216"},{"id":184586,"name":"Financial Performance","url":"https://www.academia.edu/Documents/in/Financial_Performance?f_ri=1596216"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate?f_ri=1596216"},{"id":236035,"name":"Exchange Rates","url":"https://www.academia.edu/Documents/in/Exchange_Rates?f_ri=1596216"},{"id":984996,"name":"EGX 30","url":"https://www.academia.edu/Documents/in/EGX_30?f_ri=1596216"},{"id":1222759,"name":"Financail Institution","url":"https://www.academia.edu/Documents/in/Financail_Institution?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":3134938,"name":"floating Egyptian pound","url":"https://www.academia.edu/Documents/in/floating_Egyptian_pound?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_61086571" data-work_id="61086571" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/61086571/A_reader_in_international_corporate_finance_volume_one">A reader in international corporate finance : volume one</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_61086571" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/61086571" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="b6a79bebbce763e7800fedfe62a6bde2" rel="nofollow" data-download="{"attachment_id":74252189,"asset_id":61086571,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/74252189/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="60054229" href="https://independent.academia.edu/LucLaeven">Luc Laeven</a><script data-card-contents-for-user="60054229" type="text/json">{"id":60054229,"first_name":"Luc","last_name":"Laeven","domain_name":"independent","page_name":"LucLaeven","display_name":"Luc Laeven","profile_url":"https://independent.academia.edu/LucLaeven?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_61086571 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="61086571"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 61086571, container: ".js-paper-rank-work_61086571", }); 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$(".js-view-count[data-work-id=61086571]").text(description); $(".js-view-count-work_61086571").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_61086571").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="61086571"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="1665" rel="nofollow" href="https://www.academia.edu/Documents/in/Asset_Pricing">Asset Pricing</a>, <script data-card-contents-for-ri="1665" type="text/json">{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3490" rel="nofollow" href="https://www.academia.edu/Documents/in/Accounting">Accounting</a>, <script data-card-contents-for-ri="3490" type="text/json">{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4167" rel="nofollow" href="https://www.academia.edu/Documents/in/Corporate_Governance">Corporate Governance</a>, <script data-card-contents-for-ri="4167" type="text/json">{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a><script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=61086571]'), work: {"id":61086571,"title":"A reader in international corporate finance : volume one","created_at":"2021-11-06T00:32:09.501-07:00","url":"https://www.academia.edu/61086571/A_reader_in_international_corporate_finance_volume_one?f_ri=1596216","dom_id":"work_61086571","summary":"This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.","downloadable_attachments":[{"id":74252189,"asset_id":61086571,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":60054229,"first_name":"Luc","last_name":"Laeven","domain_name":"independent","page_name":"LucLaeven","display_name":"Luc Laeven","profile_url":"https://independent.academia.edu/LucLaeven?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing?f_ri=1596216","nofollow":true},{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true},{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216"},{"id":7292,"name":"Corporate Finance","url":"https://www.academia.edu/Documents/in/Corporate_Finance?f_ri=1596216"},{"id":107490,"name":"Common Law","url":"https://www.academia.edu/Documents/in/Common_Law?f_ri=1596216"},{"id":160116,"name":"Cost of Capital","url":"https://www.academia.edu/Documents/in/Cost_of_Capital?f_ri=1596216"},{"id":193697,"name":"Corporations","url":"https://www.academia.edu/Documents/in/Corporations?f_ri=1596216"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt?f_ri=1596216"},{"id":319633,"name":"Bonds","url":"https://www.academia.edu/Documents/in/Bonds?f_ri=1596216"},{"id":321994,"name":"Benchmark","url":"https://www.academia.edu/Documents/in/Benchmark?f_ri=1596216"},{"id":430234,"name":"Capital Budgeting","url":"https://www.academia.edu/Documents/in/Capital_Budgeting?f_ri=1596216"},{"id":502839,"name":"Accounting standards","url":"https://www.academia.edu/Documents/in/Accounting_standards?f_ri=1596216"},{"id":651304,"name":"Allocation","url":"https://www.academia.edu/Documents/in/Allocation?f_ri=1596216"},{"id":698433,"name":"Economic Efficiency","url":"https://www.academia.edu/Documents/in/Economic_Efficiency?f_ri=1596216"},{"id":921017,"name":"Corporation","url":"https://www.academia.edu/Documents/in/Corporation?f_ri=1596216"},{"id":1240789,"name":"Capital Market","url":"https://www.academia.edu/Documents/in/Capital_Market?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":2601211,"name":"Adverse effect","url":"https://www.academia.edu/Documents/in/Adverse_effect?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_60764301" data-work_id="60764301" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/60764301/Transforming_NGO_MFIs_critical_ownership_issues_to_consider">Transforming NGO MFIs : critical ownership issues to consider</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">A significant proportion of microfinance institutions (MFIs) in developing countries operate either as nongovernmental organizations (NGOs) or as projects run by international NGOs. Many of these NGO MFIs plan to "transform" into a... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_60764301" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">A significant proportion of microfinance institutions (MFIs) in developing countries operate either as nongovernmental organizations (NGOs) or as projects run by international NGOs. Many of these NGO MFIs plan to "transform" into a for-profit company-often, a regulated financial institution. The microfinance sector is, in many ways, at the threshold of knowledge and experience regarding this type of transformation. 1 A key component of the NGO founders and funders should consider the topics addressed in this paper long before beginning a transformation. Early planning and consultation with local counsel will help them avoid pitfalls that may make a transformation unnecessarily costly, difficult, and sometimes unworkable.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/60764301" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="d23063d5e90352732142e95568dfa48f" rel="nofollow" data-download="{"attachment_id":74062902,"asset_id":60764301,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/74062902/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="6022769" href="https://independent.academia.edu/katelauer">kate lauer</a><script data-card-contents-for-user="6022769" type="text/json">{"id":6022769,"first_name":"kate","last_name":"lauer","domain_name":"independent","page_name":"katelauer","display_name":"kate lauer","profile_url":"https://independent.academia.edu/katelauer?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_60764301 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="60764301"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 60764301, container: ".js-paper-rank-work_60764301", }); 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$(".js-view-count[data-work-id=60764301]").text(description); $(".js-view-count-work_60764301").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_60764301").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="60764301"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="4167" rel="nofollow" href="https://www.academia.edu/Documents/in/Corporate_Governance">Corporate Governance</a>, <script data-card-contents-for-ri="4167" type="text/json">{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="9815" rel="nofollow" href="https://www.academia.edu/Documents/in/Developing_Countries">Developing Countries</a>, <script data-card-contents-for-ri="9815" type="text/json">{"id":9815,"name":"Developing Countries","url":"https://www.academia.edu/Documents/in/Developing_Countries?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="11395" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Development">Economic Development</a>, <script data-card-contents-for-ri="11395" type="text/json">{"id":11395,"name":"Economic Development","url":"https://www.academia.edu/Documents/in/Economic_Development?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="19013" rel="nofollow" href="https://www.academia.edu/Documents/in/Cooperatives">Cooperatives</a><script data-card-contents-for-ri="19013" type="text/json">{"id":19013,"name":"Cooperatives","url":"https://www.academia.edu/Documents/in/Cooperatives?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=60764301]'), work: {"id":60764301,"title":"Transforming NGO MFIs : critical ownership issues to consider","created_at":"2021-11-01T22:52:40.732-07:00","url":"https://www.academia.edu/60764301/Transforming_NGO_MFIs_critical_ownership_issues_to_consider?f_ri=1596216","dom_id":"work_60764301","summary":"A significant proportion of microfinance institutions (MFIs) in developing countries operate either as nongovernmental organizations (NGOs) or as projects run by international NGOs. Many of these NGO MFIs plan to \"transform\" into a for-profit company-often, a regulated financial institution. The microfinance sector is, in many ways, at the threshold of knowledge and experience regarding this type of transformation. 1 A key component of the NGO founders and funders should consider the topics addressed in this paper long before beginning a transformation. Early planning and consultation with local counsel will help them avoid pitfalls that may make a transformation unnecessarily costly, difficult, and sometimes unworkable.","downloadable_attachments":[{"id":74062902,"asset_id":60764301,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":6022769,"first_name":"kate","last_name":"lauer","domain_name":"independent","page_name":"katelauer","display_name":"kate lauer","profile_url":"https://independent.academia.edu/katelauer?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true},{"id":9815,"name":"Developing Countries","url":"https://www.academia.edu/Documents/in/Developing_Countries?f_ri=1596216","nofollow":true},{"id":11395,"name":"Economic Development","url":"https://www.academia.edu/Documents/in/Economic_Development?f_ri=1596216","nofollow":true},{"id":19013,"name":"Cooperatives","url":"https://www.academia.edu/Documents/in/Cooperatives?f_ri=1596216","nofollow":true},{"id":27560,"name":"Company Law","url":"https://www.academia.edu/Documents/in/Company_Law?f_ri=1596216"},{"id":94661,"name":"Financial Services","url":"https://www.academia.edu/Documents/in/Financial_Services?f_ri=1596216"},{"id":222437,"name":"Exposure","url":"https://www.academia.edu/Documents/in/Exposure?f_ri=1596216"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt?f_ri=1596216"},{"id":271890,"name":"Currency","url":"https://www.academia.edu/Documents/in/Currency?f_ri=1596216"},{"id":401388,"name":"Dividends","url":"https://www.academia.edu/Documents/in/Dividends?f_ri=1596216"},{"id":418494,"name":"Currency risk","url":"https://www.academia.edu/Documents/in/Currency_risk?f_ri=1596216"},{"id":659771,"name":"Cash Flow","url":"https://www.academia.edu/Documents/in/Cash_Flow?f_ri=1596216"},{"id":817504,"name":"DIVIDEND","url":"https://www.academia.edu/Documents/in/DIVIDEND?f_ri=1596216"},{"id":966655,"name":"Capital Adequacy","url":"https://www.academia.edu/Documents/in/Capital_Adequacy?f_ri=1596216"},{"id":1501300,"name":"Financial Intermediaries","url":"https://www.academia.edu/Documents/in/Financial_Intermediaries?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":1903131,"name":"Capital Requirements","url":"https://www.academia.edu/Documents/in/Capital_Requirements?f_ri=1596216"},{"id":2615763,"name":"Book Value","url":"https://www.academia.edu/Documents/in/Book_Value?f_ri=1596216"},{"id":2642965,"name":"creditors","url":"https://www.academia.edu/Documents/in/creditors?f_ri=1596216"},{"id":3450527,"name":"Fair Market Value","url":"https://www.academia.edu/Documents/in/Fair_Market_Value?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_50504914" data-work_id="50504914" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/50504914/Equity_LEAPS_Calls_vs_Stocks_An_Empirical_Study_for_Long_Term_Speculation">Equity LEAPS Calls vs. Stocks: An Empirical Study for Long-Term Speculation</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Long-Term Equity Anticipation Security or LEAPS is a call option introduced as a more conservative security that can replicate a common stock position. This study's objective is to examine the effect of applying the strategy of "Buying... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_50504914" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Long-Term Equity Anticipation Security or LEAPS is a call option introduced as a more conservative security that can replicate a common stock position. This study's objective is to examine the effect of applying the strategy of "Buying In-The-Money LEAPS Calls vs. Purchasing Stocks" proposed by CBOE on the performance of traders in terms of risk and return trade-off and the risk-adjusted performance in practice, using a sample of 54 common stocks listed on NYSE and NASDAQ and 54 LEAPS calls on the same underlying stocks listed on CBOE during 2008-2010. The results indicate that LEAPS calls are not a preferred financial instrument to replace common stocks for risk-averse traders. When the stock market experiences a progressive downturn trend, the portfolios of LEAPS calls provide much higher negative returns, significant loss and poor performance as well as higher levels of volatility relative to the portfolios of common stocks. The results of this study also suggest that riskseeking traders, who can tolerate the higher level of risk in compensation for higher returns, choose the portfolio of LEAPS calls with high Book-To-Market (BTM) ratio assets. This portfolio is less volatile relative to the portfolio of LEAPS with low BTM ratio and provides higher rates of return in comparison to the portfolios of common stocks in favorable market conditions.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/50504914" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="b34c663d67f651ccb5c4f8e4fb23bdeb" rel="nofollow" data-download="{"attachment_id":68464530,"asset_id":50504914,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/68464530/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="493933" href="https://malaya.academia.edu/izlinismail">izlin ismail</a><script data-card-contents-for-user="493933" type="text/json">{"id":493933,"first_name":"izlin","last_name":"ismail","domain_name":"malaya","page_name":"izlinismail","display_name":"izlin ismail","profile_url":"https://malaya.academia.edu/izlinismail?f_ri=1596216","photo":"https://0.academia-photos.com/493933/18008879/18016664/s65_izlin.ismail.jpg"}</script></span></span></li><li class="js-paper-rank-work_50504914 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="50504914"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 50504914, container: ".js-paper-rank-work_50504914", }); 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$(".js-view-count[data-work-id=50504914]").text(description); $(".js-view-count-work_50504914").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_50504914").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="50504914"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">7</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="43739" rel="nofollow" href="https://www.academia.edu/Documents/in/Volatility">Volatility</a>, <script data-card-contents-for-ri="43739" type="text/json">{"id":43739,"name":"Volatility","url":"https://www.academia.edu/Documents/in/Volatility?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="69842" rel="nofollow" href="https://www.academia.edu/Documents/in/Variance">Variance</a>, <script data-card-contents-for-ri="69842" type="text/json">{"id":69842,"name":"Variance","url":"https://www.academia.edu/Documents/in/Variance?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="81503" rel="nofollow" href="https://www.academia.edu/Documents/in/Sharpe_Ratio">Sharpe Ratio</a>, <script data-card-contents-for-ri="81503" type="text/json">{"id":81503,"name":"Sharpe Ratio","url":"https://www.academia.edu/Documents/in/Sharpe_Ratio?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="617240" rel="nofollow" href="https://www.academia.edu/Documents/in/Return">Return</a><script data-card-contents-for-ri="617240" type="text/json">{"id":617240,"name":"Return","url":"https://www.academia.edu/Documents/in/Return?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=50504914]'), work: {"id":50504914,"title":"Equity LEAPS Calls vs. Stocks: An Empirical Study for Long-Term Speculation","created_at":"2021-08-01T06:10:20.923-07:00","url":"https://www.academia.edu/50504914/Equity_LEAPS_Calls_vs_Stocks_An_Empirical_Study_for_Long_Term_Speculation?f_ri=1596216","dom_id":"work_50504914","summary":"Long-Term Equity Anticipation Security or LEAPS is a call option introduced as a more conservative security that can replicate a common stock position. This study's objective is to examine the effect of applying the strategy of \"Buying In-The-Money LEAPS Calls vs. Purchasing Stocks\" proposed by CBOE on the performance of traders in terms of risk and return trade-off and the risk-adjusted performance in practice, using a sample of 54 common stocks listed on NYSE and NASDAQ and 54 LEAPS calls on the same underlying stocks listed on CBOE during 2008-2010. The results indicate that LEAPS calls are not a preferred financial instrument to replace common stocks for risk-averse traders. When the stock market experiences a progressive downturn trend, the portfolios of LEAPS calls provide much higher negative returns, significant loss and poor performance as well as higher levels of volatility relative to the portfolios of common stocks. The results of this study also suggest that riskseeking traders, who can tolerate the higher level of risk in compensation for higher returns, choose the portfolio of LEAPS calls with high Book-To-Market (BTM) ratio assets. This portfolio is less volatile relative to the portfolio of LEAPS with low BTM ratio and provides higher rates of return in comparison to the portfolios of common stocks in favorable market conditions.","downloadable_attachments":[{"id":68464530,"asset_id":50504914,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":493933,"first_name":"izlin","last_name":"ismail","domain_name":"malaya","page_name":"izlinismail","display_name":"izlin ismail","profile_url":"https://malaya.academia.edu/izlinismail?f_ri=1596216","photo":"https://0.academia-photos.com/493933/18008879/18016664/s65_izlin.ismail.jpg"}],"research_interests":[{"id":43739,"name":"Volatility","url":"https://www.academia.edu/Documents/in/Volatility?f_ri=1596216","nofollow":true},{"id":69842,"name":"Variance","url":"https://www.academia.edu/Documents/in/Variance?f_ri=1596216","nofollow":true},{"id":81503,"name":"Sharpe Ratio","url":"https://www.academia.edu/Documents/in/Sharpe_Ratio?f_ri=1596216","nofollow":true},{"id":617240,"name":"Return","url":"https://www.academia.edu/Documents/in/Return?f_ri=1596216","nofollow":true},{"id":798071,"name":"Mean","url":"https://www.academia.edu/Documents/in/Mean?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":3445392,"name":"Treynor ratio","url":"https://www.academia.edu/Documents/in/Treynor_ratio?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_48398627" data-work_id="48398627" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/48398627/Ecuador_Report_on_the_Observance_of_Standards_and_Codes_ROSC_accounting_and_auditing">Ecuador - Report on the Observance of Standards and Codes (ROSC) - accounting and auditing</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This report was prepared by a staff team from the World Bank on the basis of the findings from a diagnostic review carried out in Quito and Guayaquil from October to December 2003. The team comprised Henri Fortin (LCOAA) and M. Zubaidur... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_48398627" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This report was prepared by a staff team from the World Bank on the basis of the findings from a diagnostic review carried out in Quito and Guayaquil from October to December 2003. The team comprised Henri Fortin (LCOAA) and M. Zubaidur Rahman (OPCFM). The review was conducted through a participatory process involving various stakeholders and led by the country authorities. The ROSC assessment was cleared for publication by the Ministry of Economy and Finance on January 19, 2005.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/48398627" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="6f1bff61cff51fa6ae8c830922fc31b2" rel="nofollow" data-download="{"attachment_id":67049264,"asset_id":48398627,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/67049264/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="64103780" href="https://independent.academia.edu/MZubaidurRahman">M Zubaidur Rahman</a><script data-card-contents-for-user="64103780" type="text/json">{"id":64103780,"first_name":"M Zubaidur","last_name":"Rahman","domain_name":"independent","page_name":"MZubaidurRahman","display_name":"M Zubaidur Rahman","profile_url":"https://independent.academia.edu/MZubaidurRahman?f_ri=1596216","photo":"https://0.academia-photos.com/64103780/48444648/36779499/s65_m_zubaidur.rahman.jpg"}</script></span></span></li><li class="js-paper-rank-work_48398627 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="48398627"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 48398627, container: ".js-paper-rank-work_48398627", }); 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$(".js-view-count[data-work-id=48398627]").text(description); $(".js-view-count-work_48398627").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_48398627").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="48398627"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3490" rel="nofollow" href="https://www.academia.edu/Documents/in/Accounting">Accounting</a>, <script data-card-contents-for-ri="3490" type="text/json">{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a>, <script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="6910" rel="nofollow" href="https://www.academia.edu/Documents/in/Capital_Markets">Capital Markets</a><script data-card-contents-for-ri="6910" type="text/json">{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=48398627]'), work: {"id":48398627,"title":"Ecuador - Report on the Observance of Standards and Codes (ROSC) - accounting and auditing","created_at":"2021-05-04T17:09:06.548-07:00","url":"https://www.academia.edu/48398627/Ecuador_Report_on_the_Observance_of_Standards_and_Codes_ROSC_accounting_and_auditing?f_ri=1596216","dom_id":"work_48398627","summary":"This report was prepared by a staff team from the World Bank on the basis of the findings from a diagnostic review carried out in Quito and Guayaquil from October to December 2003. 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The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_53238318" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/53238318" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="9585f6153f636d84eeb315f7c2dbe583" rel="nofollow" data-download="{"attachment_id":70123674,"asset_id":53238318,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/70123674/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="84930792" href="https://yale.academia.edu/StijnClaessens">Stijn Claessens</a><script data-card-contents-for-user="84930792" type="text/json">{"id":84930792,"first_name":"Stijn","last_name":"Claessens","domain_name":"yale","page_name":"StijnClaessens","display_name":"Stijn Claessens","profile_url":"https://yale.academia.edu/StijnClaessens?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_53238318 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="53238318"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 53238318, container: ".js-paper-rank-work_53238318", }); 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$(".js-view-count[data-work-id=53238318]").text(description); $(".js-view-count-work_53238318").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_53238318").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="53238318"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="1665" rel="nofollow" href="https://www.academia.edu/Documents/in/Asset_Pricing">Asset Pricing</a>, <script data-card-contents-for-ri="1665" type="text/json">{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3490" rel="nofollow" href="https://www.academia.edu/Documents/in/Accounting">Accounting</a>, <script data-card-contents-for-ri="3490" type="text/json">{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4167" rel="nofollow" href="https://www.academia.edu/Documents/in/Corporate_Governance">Corporate Governance</a>, <script data-card-contents-for-ri="4167" type="text/json">{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a><script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=53238318]'), work: {"id":53238318,"title":"A reader in international corporate finance : volume one","created_at":"2021-09-22T12:47:10.853-07:00","url":"https://www.academia.edu/53238318/A_reader_in_international_corporate_finance_volume_one?f_ri=1596216","dom_id":"work_53238318","summary":"This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.","downloadable_attachments":[{"id":70123674,"asset_id":53238318,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":84930792,"first_name":"Stijn","last_name":"Claessens","domain_name":"yale","page_name":"StijnClaessens","display_name":"Stijn Claessens","profile_url":"https://yale.academia.edu/StijnClaessens?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing?f_ri=1596216","nofollow":true},{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true},{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216"},{"id":7292,"name":"Corporate Finance","url":"https://www.academia.edu/Documents/in/Corporate_Finance?f_ri=1596216"},{"id":107490,"name":"Common Law","url":"https://www.academia.edu/Documents/in/Common_Law?f_ri=1596216"},{"id":160116,"name":"Cost of Capital","url":"https://www.academia.edu/Documents/in/Cost_of_Capital?f_ri=1596216"},{"id":193697,"name":"Corporations","url":"https://www.academia.edu/Documents/in/Corporations?f_ri=1596216"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt?f_ri=1596216"},{"id":319633,"name":"Bonds","url":"https://www.academia.edu/Documents/in/Bonds?f_ri=1596216"},{"id":321994,"name":"Benchmark","url":"https://www.academia.edu/Documents/in/Benchmark?f_ri=1596216"},{"id":430234,"name":"Capital Budgeting","url":"https://www.academia.edu/Documents/in/Capital_Budgeting?f_ri=1596216"},{"id":502839,"name":"Accounting standards","url":"https://www.academia.edu/Documents/in/Accounting_standards?f_ri=1596216"},{"id":651304,"name":"Allocation","url":"https://www.academia.edu/Documents/in/Allocation?f_ri=1596216"},{"id":698433,"name":"Economic Efficiency","url":"https://www.academia.edu/Documents/in/Economic_Efficiency?f_ri=1596216"},{"id":921017,"name":"Corporation","url":"https://www.academia.edu/Documents/in/Corporation?f_ri=1596216"},{"id":1240789,"name":"Capital Market","url":"https://www.academia.edu/Documents/in/Capital_Market?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":2601211,"name":"Adverse effect","url":"https://www.academia.edu/Documents/in/Adverse_effect?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_52441904" data-work_id="52441904" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/52441904/Performance_of_Stock_and_Treasury_Bills_under_Inflation_and_Floating_Evidence_from_Egypt">Performance of Stock and Treasury Bills under Inflation and Floating: Evidence from Egypt</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_52441904" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical methods. The Study concluded that there is a strong positive relationship between inflation rate & returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. Finally, the study founds the same average return but a different at variances of this return & the Coefficient of variation.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/52441904" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="9eade67dff26f5cab60dc7b683bfc7af" rel="nofollow" data-download="{"attachment_id":69703167,"asset_id":52441904,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/69703167/download_file?st=MTc0MDYyNDA5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="131396199" href="https://independent.academia.edu/YasminTarek10">Yasmin Tarek</a><script data-card-contents-for-user="131396199" type="text/json">{"id":131396199,"first_name":"Yasmin","last_name":"Tarek","domain_name":"independent","page_name":"YasminTarek10","display_name":"Yasmin Tarek","profile_url":"https://independent.academia.edu/YasminTarek10?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_52441904 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="52441904"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 52441904, container: ".js-paper-rank-work_52441904", }); 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$(".js-view-count[data-work-id=52441904]").text(description); $(".js-view-count-work_52441904").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_52441904").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="52441904"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">14</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="47" rel="nofollow" href="https://www.academia.edu/Documents/in/Finance">Finance</a>, <script data-card-contents-for-ri="47" type="text/json">{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="6910" rel="nofollow" href="https://www.academia.edu/Documents/in/Capital_Markets">Capital Markets</a>, <script data-card-contents-for-ri="6910" type="text/json">{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="25112" rel="nofollow" href="https://www.academia.edu/Documents/in/Financial_Markets">Financial Markets</a>, <script data-card-contents-for-ri="25112" type="text/json">{"id":25112,"name":"Financial Markets","url":"https://www.academia.edu/Documents/in/Financial_Markets?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="36222" rel="nofollow" href="https://www.academia.edu/Documents/in/Stock_Markets">Stock Markets</a><script data-card-contents-for-ri="36222" type="text/json">{"id":36222,"name":"Stock Markets","url":"https://www.academia.edu/Documents/in/Stock_Markets?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=52441904]'), work: {"id":52441904,"title":"Performance of Stock and Treasury Bills under Inflation and Floating: Evidence from Egypt","created_at":"2021-09-15T07:27:29.391-07:00","url":"https://www.academia.edu/52441904/Performance_of_Stock_and_Treasury_Bills_under_Inflation_and_Floating_Evidence_from_Egypt?f_ri=1596216","dom_id":"work_52441904","summary":"The aim of this study is comparing the performance of common stock \u0026 treasury bills, according to the central bank of Egypt and their monetary policy during the time period between \"1994-2017\", using descriptive \u0026 inferential statistical methods. The Study concluded that there is a strong positive relationship between inflation rate \u0026 returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. Finally, the study founds the same average return but a different at variances of this return \u0026 the Coefficient of variation.","downloadable_attachments":[{"id":69703167,"asset_id":52441904,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":131396199,"first_name":"Yasmin","last_name":"Tarek","domain_name":"independent","page_name":"YasminTarek10","display_name":"Yasmin Tarek","profile_url":"https://independent.academia.edu/YasminTarek10?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true},{"id":25112,"name":"Financial Markets","url":"https://www.academia.edu/Documents/in/Financial_Markets?f_ri=1596216","nofollow":true},{"id":36222,"name":"Stock Markets","url":"https://www.academia.edu/Documents/in/Stock_Markets?f_ri=1596216","nofollow":true},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis?f_ri=1596216"},{"id":107062,"name":"Money Market","url":"https://www.academia.edu/Documents/in/Money_Market?f_ri=1596216"},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation?f_ri=1596216"},{"id":184586,"name":"Financial Performance","url":"https://www.academia.edu/Documents/in/Financial_Performance?f_ri=1596216"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate?f_ri=1596216"},{"id":236035,"name":"Exchange Rates","url":"https://www.academia.edu/Documents/in/Exchange_Rates?f_ri=1596216"},{"id":418456,"name":"Economics Finance","url":"https://www.academia.edu/Documents/in/Economics_Finance-2?f_ri=1596216"},{"id":1222759,"name":"Financail Institution","url":"https://www.academia.edu/Documents/in/Financail_Institution?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":3134938,"name":"floating Egyptian pound","url":"https://www.academia.edu/Documents/in/floating_Egyptian_pound?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_38351611" data-work_id="38351611" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/38351611/Political_Risks_and_Their_Economic_Effects_Evidence_from_Egypt">Political Risks and Their Economic Effects_ Evidence from Egypt</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This research aims at studying the effect of political changes on Egyptian economy by studying the direct and indirect effect of political risk index and its sub-indicators on number of important variables such as economic growth,... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_38351611" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This research aims at studying the effect of political changes on Egyptian economy by studying the direct and indirect effect of political risk index and its sub-indicators on number of important variables such as economic growth, employment, exchange rates, Egyptian Exchange main index (EGX30), foreign investment flows, domestic interest rates, and domestic public debt during the time period from 2006 to 2015 using parametric and nonparametric statistical methods. The study concluded that political risk index and its sub-indicators have had varying effects on financial and real investment and other macroeconomic variables in Egypt; and that achieving a successful economic development process cannot be reached without taking into account determinants of political risk.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/38351611" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="ba37d146b0a3549dd735897a80d838b6" rel="nofollow" data-download="{"attachment_id":58404087,"asset_id":38351611,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/58404087/download_file?st=MTc0MDYyNDA5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="6559984" href="https://mti.academia.edu/OsamaWagdi">Osama Wagdi</a><script data-card-contents-for-user="6559984" type="text/json">{"id":6559984,"first_name":"Osama","last_name":"Wagdi","domain_name":"mti","page_name":"OsamaWagdi","display_name":"Osama Wagdi","profile_url":"https://mti.academia.edu/OsamaWagdi?f_ri=1596216","photo":"https://0.academia-photos.com/6559984/2624409/45644899/s65_osama.wagdi.jpg"}</script></span></span></li><li class="js-paper-rank-work_38351611 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="38351611"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 38351611, container: ".js-paper-rank-work_38351611", }); 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The study concluded that political risk index and its sub-indicators have had varying effects on financial and real investment and other macroeconomic variables in Egypt; and that achieving a successful economic development process cannot be reached without taking into account determinants of political risk.\n","downloadable_attachments":[{"id":58404087,"asset_id":38351611,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":6559984,"first_name":"Osama","last_name":"Wagdi","domain_name":"mti","page_name":"OsamaWagdi","display_name":"Osama Wagdi","profile_url":"https://mti.academia.edu/OsamaWagdi?f_ri=1596216","photo":"https://0.academia-photos.com/6559984/2624409/45644899/s65_osama.wagdi.jpg"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=1596216","nofollow":true},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true},{"id":36222,"name":"Stock Markets","url":"https://www.academia.edu/Documents/in/Stock_Markets?f_ri=1596216","nofollow":true},{"id":46429,"name":"Economy","url":"https://www.academia.edu/Documents/in/Economy?f_ri=1596216"},{"id":93270,"name":"Country Risk Analysis","url":"https://www.academia.edu/Documents/in/Country_Risk_Analysis?f_ri=1596216"},{"id":534876,"name":"Financail Markets","url":"https://www.academia.edu/Documents/in/Financail_Markets?f_ri=1596216"},{"id":674040,"name":"Political Risks","url":"https://www.academia.edu/Documents/in/Political_Risks?f_ri=1596216"},{"id":1222759,"name":"Financail Institution","url":"https://www.academia.edu/Documents/in/Financail_Institution?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_27979641" data-work_id="27979641" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/27979641/Shedding_Light_on_Microfinance_Equity_Valuation_Past_and_Present">Shedding Light on Microfinance Equity Valuation: Past and Present</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This report is the result of a collaboration between CGAP and J.P. Morgan. CGAP is solely responsible for the printing and distribution of this Occasional Paper. CGAP is not affiliated with J.P. Morgan. Our objective is to provide... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_27979641" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This report is the result of a collaboration between CGAP and J.P. Morgan. CGAP is solely responsible for the printing and distribution of this Occasional Paper. CGAP is not affiliated with J.P. Morgan. Our objective is to provide benchmarks for valuation of microfinance equity, both private and publicly listed. Our analysis is based on two datasets: a sample of 144 private equity transactions, which represents the largest such dataset gathered to date, and data on 10 publicly traded micro finance institutions (MFIs) and low-income consumer lenders. 1</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/27979641" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="5e878650eb17df9569bec12b50003640" rel="nofollow" data-download="{"attachment_id":48282270,"asset_id":27979641,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/48282270/download_file?st=MTc0MDYyNDA5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="52458973" href="https://brown.academia.edu/ElizabethLittlefield">Elizabeth Littlefield</a><script data-card-contents-for-user="52458973" type="text/json">{"id":52458973,"first_name":"Elizabeth","last_name":"Littlefield","domain_name":"brown","page_name":"ElizabethLittlefield","display_name":"Elizabeth Littlefield","profile_url":"https://brown.academia.edu/ElizabethLittlefield?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_27979641 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="27979641"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 27979641, container: ".js-paper-rank-work_27979641", }); 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class="summarized">The Global Corporate Governance Forum would like to extend its sincerest thanks to Maria Helena Santana and the BOVESPA for their contributions to, and support for, this publication. The Forum is fortunate to have had the opportunity to... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_76820960" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The Global Corporate Governance Forum would like to extend its sincerest thanks to Maria Helena Santana and the BOVESPA for their contributions to, and support for, this publication. The Forum is fortunate to have had the opportunity to document in this publication the "great experiment" of BOVESPA and its members and to recount the initial impact of this pro-active corporate governance leadership experience, both regionally and globally. We are grateful, too, for the efforts of the other contributors to this edition of Focus, Melsa Ararat, Petra Alexandru, B. Burcin Yurtoglu, and Mauro Rodrigues da Cunha. Their analyses helped us to discern the lessons of Novo Mercado and its followers, specifi cally the stock exchanges in Bucharest and Istanbul. The Forum also thanks Mike Lubrano, formerly IFC Manager of the Investor and Corporate Practice Unit, and now Managing Director, Corporate Governance at Cartica Capital, LLC. Mr. Lubrano dedicated time and effort in reviewing and commenting on the earliest versions of this manuscript. His fi rst-hand experience with the Novo Mercado, and his longstanding corporate governance investment career have both benefi ted this document, and in turn, the Forum and its readership. Nancy Metzger, senior projects offi cer at the Forum, worked with the authors, translators, and editor to develop this publication so that its insights were practical, relevant, and compelling. Finally, this publication would not have been possible without the professional diligence and skill of an outstanding editor-James Spellman. 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The Forum is fortunate to have had the opportunity to document in this publication the \"great experiment\" of BOVESPA and its members and to recount the initial impact of this pro-active corporate governance leadership experience, both regionally and globally. We are grateful, too, for the efforts of the other contributors to this edition of Focus, Melsa Ararat, Petra Alexandru, B. Burcin Yurtoglu, and Mauro Rodrigues da Cunha. Their analyses helped us to discern the lessons of Novo Mercado and its followers, specifi cally the stock exchanges in Bucharest and Istanbul. The Forum also thanks Mike Lubrano, formerly IFC Manager of the Investor and Corporate Practice Unit, and now Managing Director, Corporate Governance at Cartica Capital, LLC. Mr. Lubrano dedicated time and effort in reviewing and commenting on the earliest versions of this manuscript. His fi rst-hand experience with the Novo Mercado, and his longstanding corporate governance investment career have both benefi ted this document, and in turn, the Forum and its readership. Nancy Metzger, senior projects offi cer at the Forum, worked with the authors, translators, and editor to develop this publication so that its insights were practical, relevant, and compelling. Finally, this publication would not have been possible without the professional diligence and skill of an outstanding editor-James Spellman. We thank him for his meticulous attention to detail, his insightful suggestions and edits, and his general good spirit throughout this yearlong project involving so many.","downloadable_attachments":[{"id":84414172,"asset_id":76820960,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":22507477,"first_name":"Burcin","last_name":"Yurtoglu","domain_name":"whu","page_name":"BurcinYurtoglu","display_name":"Burcin Yurtoglu","profile_url":"https://whu.academia.edu/BurcinYurtoglu?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business?f_ri=1596216","nofollow":true},{"id":2095,"name":"Corporate Law","url":"https://www.academia.edu/Documents/in/Corporate_Law?f_ri=1596216","nofollow":true},{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true},{"id":3745,"name":"Arbitration","url":"https://www.academia.edu/Documents/in/Arbitration?f_ri=1596216","nofollow":true},{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216"},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216"},{"id":28013,"name":"Capital Structure","url":"https://www.academia.edu/Documents/in/Capital_Structure?f_ri=1596216"},{"id":96047,"name":"Case Study","url":"https://www.academia.edu/Documents/in/Case_Study?f_ri=1596216"},{"id":193697,"name":"Corporations","url":"https://www.academia.edu/Documents/in/Corporations?f_ri=1596216"},{"id":198794,"name":"Consolidation","url":"https://www.academia.edu/Documents/in/Consolidation?f_ri=1596216"},{"id":266935,"name":"Derivative","url":"https://www.academia.edu/Documents/in/Derivative?f_ri=1596216"},{"id":271890,"name":"Currency","url":"https://www.academia.edu/Documents/in/Currency?f_ri=1596216"},{"id":298391,"name":"Bond","url":"https://www.academia.edu/Documents/in/Bond?f_ri=1596216"},{"id":319633,"name":"Bonds","url":"https://www.academia.edu/Documents/in/Bonds?f_ri=1596216"},{"id":382879,"name":"Corporation Law","url":"https://www.academia.edu/Documents/in/Corporation_Law?f_ri=1596216"},{"id":659771,"name":"Cash Flow","url":"https://www.academia.edu/Documents/in/Cash_Flow?f_ri=1596216"},{"id":1240789,"name":"Capital Market","url":"https://www.academia.edu/Documents/in/Capital_Market?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":1773411,"name":"Debentures","url":"https://www.academia.edu/Documents/in/Debentures?f_ri=1596216"},{"id":3203034,"name":"Bond Index","url":"https://www.academia.edu/Documents/in/Bond_Index?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_65427455" data-work_id="65427455" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/65427455/Ecuador_Report_on_the_Observance_of_Standards_and_Codes_ROSC_accounting_and_auditing">Ecuador - Report on the Observance of Standards and Codes (ROSC) - accounting and auditing</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This report provides an assessment of accounting, financial reporting and auditing practices within the corporate sector in Ecuador, using International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_65427455" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This report provides an assessment of accounting, financial reporting and auditing practices within the corporate sector in Ecuador, using International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks and drawing on international experience and best practices in that field. The adoption of Ecuadorian Accounting Standards (Normas Ecuatorianas de Contabilidad, or NEC) and Ecuadorian Auditing Standards (Normas Ecuatorianas de Auditoria, or NEA) in 1999-2000 represented a significant step forward for the country in improving the quality of its standards. Nonetheless, further efforts are needed to improve those standards which leave out a number of critical areas. In that regard, full adoption of IFRS and ISA by public-interest entities is widely viewed among country stakeholders as the best solution for Ecuador, and this report endorses the accounting profession&#39;s recent initiative for such adoption.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/65427455" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="37319b6c4d877fad7c8463686a0cb9ff" rel="nofollow" data-download="{"attachment_id":77029801,"asset_id":65427455,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/77029801/download_file?st=MTc0MDYyNDA5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="64103780" href="https://independent.academia.edu/MZubaidurRahman">M Zubaidur Rahman</a><script data-card-contents-for-user="64103780" type="text/json">{"id":64103780,"first_name":"M Zubaidur","last_name":"Rahman","domain_name":"independent","page_name":"MZubaidurRahman","display_name":"M Zubaidur Rahman","profile_url":"https://independent.academia.edu/MZubaidurRahman?f_ri=1596216","photo":"https://0.academia-photos.com/64103780/48444648/36779499/s65_m_zubaidur.rahman.jpg"}</script></span></span></li><li class="js-paper-rank-work_65427455 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="65427455"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 65427455, container: ".js-paper-rank-work_65427455", }); 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The adoption of Ecuadorian Accounting Standards (Normas Ecuatorianas de Contabilidad, or NEC) and Ecuadorian Auditing Standards (Normas Ecuatorianas de Auditoria, or NEA) in 1999-2000 represented a significant step forward for the country in improving the quality of its standards. Nonetheless, further efforts are needed to improve those standards which leave out a number of critical areas. In that regard, full adoption of IFRS and ISA by public-interest entities is widely viewed among country stakeholders as the best solution for Ecuador, and this report endorses the accounting profession\u0026#39;s recent initiative for such adoption.","downloadable_attachments":[{"id":77029801,"asset_id":65427455,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":64103780,"first_name":"M Zubaidur","last_name":"Rahman","domain_name":"independent","page_name":"MZubaidurRahman","display_name":"M Zubaidur Rahman","profile_url":"https://independent.academia.edu/MZubaidurRahman?f_ri=1596216","photo":"https://0.academia-photos.com/64103780/48444648/36779499/s65_m_zubaidur.rahman.jpg"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business?f_ri=1596216","nofollow":true},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=1596216","nofollow":true},{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216"},{"id":9305,"name":"Auditing","url":"https://www.academia.edu/Documents/in/Auditing?f_ri=1596216"},{"id":14197,"name":"Autonomy","url":"https://www.academia.edu/Documents/in/Autonomy?f_ri=1596216"},{"id":43986,"name":"Electricity","url":"https://www.academia.edu/Documents/in/Electricity?f_ri=1596216"},{"id":94661,"name":"Financial Services","url":"https://www.academia.edu/Documents/in/Financial_Services?f_ri=1596216"},{"id":198794,"name":"Consolidation","url":"https://www.academia.edu/Documents/in/Consolidation?f_ri=1596216"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt?f_ri=1596216"},{"id":262852,"name":"Accounting Principles","url":"https://www.academia.edu/Documents/in/Accounting_Principles?f_ri=1596216"},{"id":319633,"name":"Bonds","url":"https://www.academia.edu/Documents/in/Bonds?f_ri=1596216"},{"id":502839,"name":"Accounting standards","url":"https://www.academia.edu/Documents/in/Accounting_standards?f_ri=1596216"},{"id":698402,"name":"Auditors","url":"https://www.academia.edu/Documents/in/Auditors?f_ri=1596216"},{"id":1003022,"name":"Audits","url":"https://www.academia.edu/Documents/in/Audits?f_ri=1596216"},{"id":1010648,"name":"AIC","url":"https://www.academia.edu/Documents/in/AIC?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":1895901,"name":"Balance Sheet","url":"https://www.academia.edu/Documents/in/Balance_Sheet?f_ri=1596216"},{"id":3910484,"name":"GAAP","url":"https://www.academia.edu/Documents/in/GAAP-1?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_53526053" data-work_id="53526053" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/53526053/Report_on_the_Colombian_capital_market">Report on the Colombian capital market</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">It gives me pleasure to transmit to you a report on the Colombian Capital Market which has been prepared by Mr. Alfonso Manero, partner f)f Glore, Forgan & Company, investment bankers in New York, at the request of your Government and the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_53526053" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">It gives me pleasure to transmit to you a report on the Colombian Capital Market which has been prepared by Mr. Alfonso Manero, partner f)f Glore, Forgan & Company, investment bankers in New York, at the request of your Government and the International ~~ for Reconstruction and</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/53526053" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="575732d5878a91a592ff33ff9fb5d629" rel="nofollow" data-download="{"attachment_id":70329166,"asset_id":53526053,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" 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href="https://www.academia.edu/52441913/Performance_of_Stock_and_Treasury_Bills_Under_Inflation_and_Floating_Evidence_from_Egypt">Performance of Stock and Treasury Bills Under Inflation and Floating: Evidence from Egypt</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_52441913" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The aim of this study is comparing the performance of common stock & treasury bills, according to the central bank of Egypt and their monetary policy during the time period between "1994-2017", using descriptive & inferential statistical methods. The Study concluded that there is a strong positive relationship between inflation rate & returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. Finally, the study founds the same average return but a different at variances of this return & the Coefficient of variation.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/52441913" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="2586a1325d5871263f1a0de25bc7b1dc" rel="nofollow" data-download="{"attachment_id":69703212,"asset_id":52441913,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/69703212/download_file?st=MTc0MDYyNDA5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="131396199" href="https://independent.academia.edu/YasminTarek10">Yasmin Tarek</a><script data-card-contents-for-user="131396199" type="text/json">{"id":131396199,"first_name":"Yasmin","last_name":"Tarek","domain_name":"independent","page_name":"YasminTarek10","display_name":"Yasmin Tarek","profile_url":"https://independent.academia.edu/YasminTarek10?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_52441913 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="52441913"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 52441913, container: ".js-paper-rank-work_52441913", }); 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The Study concluded that there is a strong positive relationship between inflation rate \u0026 returns of Egyptian treasury bills, as the same relation as with floating Egyptian pound. in addition, the study found the impact of Inflation and Floating on the return of Egyptian T-bills, but don't found this impact on the return of Egyptian common stock. Finally, the study founds the same average return but a different at variances of this return \u0026 the Coefficient of variation.","downloadable_attachments":[{"id":69703212,"asset_id":52441913,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":131396199,"first_name":"Yasmin","last_name":"Tarek","domain_name":"independent","page_name":"YasminTarek10","display_name":"Yasmin Tarek","profile_url":"https://independent.academia.edu/YasminTarek10?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=1596216","nofollow":true},{"id":6910,"name":"Capital Markets","url":"https://www.academia.edu/Documents/in/Capital_Markets?f_ri=1596216","nofollow":true},{"id":25112,"name":"Financial Markets","url":"https://www.academia.edu/Documents/in/Financial_Markets?f_ri=1596216","nofollow":true},{"id":36222,"name":"Stock 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Institution","url":"https://www.academia.edu/Documents/in/Financail_Institution?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":3134938,"name":"floating Egyptian pound","url":"https://www.academia.edu/Documents/in/floating_Egyptian_pound?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_72402963" data-work_id="72402963" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/72402963/Another_Piece_in_the_Puzzle">Another Piece in the Puzzle?</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest">Central venous oxygen saturation and emergency intubation-</div></div><ul 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href="https://www.academia.edu/Documents/in/Early_Modern_History">Early Modern History</a>, <script data-card-contents-for-ri="1727" type="text/json">{"id":1727,"name":"Early Modern History","url":"https://www.academia.edu/Documents/in/Early_Modern_History?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="5634" rel="nofollow" href="https://www.academia.edu/Documents/in/Scottish_History">Scottish History</a>, <script data-card-contents-for-ri="5634" type="text/json">{"id":5634,"name":"Scottish History","url":"https://www.academia.edu/Documents/in/Scottish_History?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="81559" rel="nofollow" href="https://www.academia.edu/Documents/in/Scotland">Scotland</a>, <script data-card-contents-for-ri="81559" type="text/json">{"id":81559,"name":"Scotland","url":"https://www.academia.edu/Documents/in/Scotland?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="89533" rel="nofollow" href="https://www.academia.edu/Documents/in/Bagpipes">Bagpipes</a><script data-card-contents-for-ri="89533" type="text/json">{"id":89533,"name":"Bagpipes","url":"https://www.academia.edu/Documents/in/Bagpipes?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=72402963]'), work: {"id":72402963,"title":"Another Piece in the Puzzle?","created_at":"2022-02-24T04:14:24.963-08:00","url":"https://www.academia.edu/72402963/Another_Piece_in_the_Puzzle?f_ri=1596216","dom_id":"work_72402963","summary":"Central venous oxygen saturation and emergency intubation-","downloadable_attachments":[{"id":81341477,"asset_id":72402963,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":39061821,"first_name":"Hendrik","last_name":"Bracht","domain_name":"neural","page_name":"HendrikBracht","display_name":"Hendrik Bracht","profile_url":"https://neural.academia.edu/HendrikBracht?f_ri=1596216","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":1727,"name":"Early Modern History","url":"https://www.academia.edu/Documents/in/Early_Modern_History?f_ri=1596216","nofollow":true},{"id":5634,"name":"Scottish History","url":"https://www.academia.edu/Documents/in/Scottish_History?f_ri=1596216","nofollow":true},{"id":81559,"name":"Scotland","url":"https://www.academia.edu/Documents/in/Scotland?f_ri=1596216","nofollow":true},{"id":89533,"name":"Bagpipes","url":"https://www.academia.edu/Documents/in/Bagpipes?f_ri=1596216","nofollow":true},{"id":1596216,"name":"Common 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Previously, he was the Chief Investment Offi cer at Franklin Templeton Investimentos Brasil, and its predecessor Bradesco... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_57450107" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Mauro Rodrigues da Cunha, CFA joined the Mauá Investimentos team in July 2007 as Partner and Head of Equities. Previously, he was the Chief Investment Offi cer at Franklin Templeton Investimentos Brasil, and its predecessor Bradesco Templeton (2001-2007). Prior to that, he held a variety of positions in the fi nancial services sector in Brazil. A Chartered Financial Analyst, Cunha earned an MBA from the University of Chicago Graduate School of Business and a BA in Economics from Pontífi cia Universidade Católica do Rio de Janeiro. He has participated in the boards of several publicly traded companies in Brazil and has been an active participant in the debate to reform Brazilian corporate law and capital markets regulations. These efforts include the Latin American Corporate Governance Roundtable, co-sponsored by the IFC, with support from its Global Corporate Governance Forum, and the OECD. He is currently vice-chairman of the board at the Instituto Brasileiro de Governança Corporativa (IBGC) and a lecturer in the institute's corporate governance courses. Cunha has participated in the Forum's Corporate Governance Leadership Program, held at the World Bank's headquarters, and other international events. Maria Helena Santana became chairperson of the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários) in July 2007, after serving as a commissioner for one year. Before then, she worked for the São Paulo Stock Exchange (BOVESPA), starting there in 1994. Between 2000 and June 2006, she was the Listings and Issuer Relations Executive Offi cer. In this role, she was responsible for both the supervision of listed companies and new listings. She was in charge of the creation and implementation of the Novo Mercado and the Corporate Governance Levels. Petra Alexandru is an executive manager with the Bucharest Stock Exchange (BVB) in Romania. She worked with the National Securities Commission of Romania until 1998, when she joined the BVB as a Deputy General Manager. She has been a member of two OECD Working Groups, one on "Capital Markets Development" and the other on "Corporate Governance in SEE Countries." She has made contributions to adopting the "OECD Best Practices for the Development of Stock Exchanges in Transition Economies" and the "OECD White Paper on the Corporate Governance in Southeast Europe." She also closely worked with East-West Management Institute-Partners for Financial Stability Program in Warsaw on corporate governance issues. Ms. Alexandru is one of the promoters of corporate governance principles in Romania and is deeply involved in the creation of the Bucharest Stock Exchange Corporate Governance Institute. Ms. Alexandru has a degree in International Business from the Academy of Economic Studies, Bucharest and post-university studies in capital markets. Novo Mercado and Its Followers: Case Studies in Corporate Governance Reform vi Melsa Ararat, Ph.D. is the director of the Corporate Governance Forum of Turkey (CGFT), a research center hosted by Sabanci University in Istanbul. Following a career in international management, she has been active since 2000 in developing capacity for corporate governance research and education in Turkey in cooperation with international governance research and advocacy networks. Ararat is also on the faculty of Sabanci University's Business School, lecturing in strategic management, ethics in business, and corporate governance. Her responsibilities include coordinating the Global Corporate Governance Forum's Research Network, which she has done since 2007. Ararat was a member of Turkey's Capital Markets Board, which developed the Corporate Governance Guidelines for listed companies.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/57450107" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="18af5acc722b1a78b957f92c21ce6b25" rel="nofollow" data-download="{"attachment_id":72348605,"asset_id":57450107,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/72348605/download_file?st=MTc0MDYyNDA5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="1124127" href="https://wwwsabanciuniv.academia.edu/MelsaArarat">Melsa Ararat</a><script data-card-contents-for-user="1124127" type="text/json">{"id":1124127,"first_name":"Melsa","last_name":"Ararat","domain_name":"wwwsabanciuniv","page_name":"MelsaArarat","display_name":"Melsa Ararat","profile_url":"https://wwwsabanciuniv.academia.edu/MelsaArarat?f_ri=1596216","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_57450107 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="57450107"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 57450107, container: ".js-paper-rank-work_57450107", }); 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$(".js-view-count[data-work-id=57450107]").text(description); $(".js-view-count-work_57450107").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_57450107").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="57450107"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="2095" rel="nofollow" href="https://www.academia.edu/Documents/in/Corporate_Law">Corporate Law</a>, <script data-card-contents-for-ri="2095" type="text/json">{"id":2095,"name":"Corporate Law","url":"https://www.academia.edu/Documents/in/Corporate_Law?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3490" rel="nofollow" href="https://www.academia.edu/Documents/in/Accounting">Accounting</a>, <script data-card-contents-for-ri="3490" type="text/json">{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3745" rel="nofollow" href="https://www.academia.edu/Documents/in/Arbitration">Arbitration</a>, <script data-card-contents-for-ri="3745" type="text/json">{"id":3745,"name":"Arbitration","url":"https://www.academia.edu/Documents/in/Arbitration?f_ri=1596216","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4167" rel="nofollow" href="https://www.academia.edu/Documents/in/Corporate_Governance">Corporate Governance</a><script data-card-contents-for-ri="4167" type="text/json">{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance?f_ri=1596216","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=57450107]'), work: {"id":57450107,"title":"Novo Mercado and Its Followers: Case Studies in Corporate Governance Reform","created_at":"2021-10-13T01:33:23.925-07:00","url":"https://www.academia.edu/57450107/Novo_Mercado_and_Its_Followers_Case_Studies_in_Corporate_Governance_Reform?f_ri=1596216","dom_id":"work_57450107","summary":"Mauro Rodrigues da Cunha, CFA joined the Mauá Investimentos team in July 2007 as Partner and Head of Equities. Previously, he was the Chief Investment Offi cer at Franklin Templeton Investimentos Brasil, and its predecessor Bradesco Templeton (2001-2007). Prior to that, he held a variety of positions in the fi nancial services sector in Brazil. A Chartered Financial Analyst, Cunha earned an MBA from the University of Chicago Graduate School of Business and a BA in Economics from Pontífi cia Universidade Católica do Rio de Janeiro. He has participated in the boards of several publicly traded companies in Brazil and has been an active participant in the debate to reform Brazilian corporate law and capital markets regulations. These efforts include the Latin American Corporate Governance Roundtable, co-sponsored by the IFC, with support from its Global Corporate Governance Forum, and the OECD. He is currently vice-chairman of the board at the Instituto Brasileiro de Governança Corporativa (IBGC) and a lecturer in the institute's corporate governance courses. Cunha has participated in the Forum's Corporate Governance Leadership Program, held at the World Bank's headquarters, and other international events. Maria Helena Santana became chairperson of the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários) in July 2007, after serving as a commissioner for one year. Before then, she worked for the São Paulo Stock Exchange (BOVESPA), starting there in 1994. Between 2000 and June 2006, she was the Listings and Issuer Relations Executive Offi cer. In this role, she was responsible for both the supervision of listed companies and new listings. She was in charge of the creation and implementation of the Novo Mercado and the Corporate Governance Levels. Petra Alexandru is an executive manager with the Bucharest Stock Exchange (BVB) in Romania. She worked with the National Securities Commission of Romania until 1998, when she joined the BVB as a Deputy General Manager. She has been a member of two OECD Working Groups, one on \"Capital Markets Development\" and the other on \"Corporate Governance in SEE Countries.\" She has made contributions to adopting the \"OECD Best Practices for the Development of Stock Exchanges in Transition Economies\" and the \"OECD White Paper on the Corporate Governance in Southeast Europe.\" She also closely worked with East-West Management Institute-Partners for Financial Stability Program in Warsaw on corporate governance issues. Ms. Alexandru is one of the promoters of corporate governance principles in Romania and is deeply involved in the creation of the Bucharest Stock Exchange Corporate Governance Institute. Ms. Alexandru has a degree in International Business from the Academy of Economic Studies, Bucharest and post-university studies in capital markets. Novo Mercado and Its Followers: Case Studies in Corporate Governance Reform vi Melsa Ararat, Ph.D. is the director of the Corporate Governance Forum of Turkey (CGFT), a research center hosted by Sabanci University in Istanbul. Following a career in international management, she has been active since 2000 in developing capacity for corporate governance research and education in Turkey in cooperation with international governance research and advocacy networks. Ararat is also on the faculty of Sabanci University's Business School, lecturing in strategic management, ethics in business, and corporate governance. Her responsibilities include coordinating the Global Corporate Governance Forum's Research Network, which she has done since 2007. 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Market","url":"https://www.academia.edu/Documents/in/Capital_Market?f_ri=1596216"},{"id":1596216,"name":"Common Stock","url":"https://www.academia.edu/Documents/in/Common_Stock?f_ri=1596216"},{"id":1773411,"name":"Debentures","url":"https://www.academia.edu/Documents/in/Debentures?f_ri=1596216"},{"id":3203034,"name":"Bond Index","url":"https://www.academia.edu/Documents/in/Bond_Index?f_ri=1596216"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_55572049" data-work_id="55572049" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" rel="nofollow" href="https://www.academia.edu/55572049/Shedding_Light_on_Microfinance_Equity_Valuation_Past_and_Present">Shedding Light on Microfinance Equity Valuation: Past and Present</a></div></div><div class="u-pb4x 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