<p>Foreign Direct investment (FDI) has been recognized as a vital source of development for African countries, which are mainly capital importing countries. This has led to a quest for effective regulation of the activities of foreign investors in a country while considering the profit making goals of the investors as well. As there is a need to strike a balance between the need to regulate entry and activities of investors and reaping the immense benefits of FDI such as growth and development. The regulation of FDI thus becomes important. However, there is no universal multilateral agreement on Investment (MAI) that binds most states oft the world. What we have is attempts at regional levels to regulate Investment uniformly. This quest has led to debates with many developing countries (Africa Inclusive) resisting attempts to formulate a MAI. This paper will start with an introduction of the importance of FDI as well as the various attempts that have been made to regulate FID on a multilateral level. Then the paper will go on to examine two Bilateral Investment Treaties (BITs) Botswana-China BIT on Promotion and Protection of Investments 2000,Czech-Tunisia BIT for the Promotion and Reciprocal Protection of Investment 1997, and two Free Trade Agreements (FTAs) - Chapter 11 of the North American Free Trade Agreement (NAFTA), 1990 and the investment provisions of the U.S &ndash / Morocco Free Trade Agreement 2004, to identify those trends that are common to these agreements that have been entered into by African countries. It will examine these provisions in line with the rights and obligations they create for the investors as well as the host countries.</p>

Background Cape Verde has produced migrants over the centuries. Its history and geography have compelled males and females to leave their homeland in search of resources to invest in their family s survival and development. Literature on parental investment has evidenced the association between investment in embodied capital during infancy and early childhood and its outcomes at later stages. However, these studies seldom address migrant population. Aim This study aims to gain a better understanding of the relationship in a migratory context between parental investment in infancy and its outcomes in prepuberty embodied capital, among Cape Verdean children living in Cova da Moura, a deprived neighbourhood in Lisbon Metropolitan Area, Portugal. Methods A mixed method s approach combining quantitative with qualitative studies - is used. The prepubertal capital of the 221 schoolchildren attending the basic school located in Cova da Moura is assessed through Anthropometry and educational records analysis. The parental investment in infancy of 75 is analysed through interviews with parents and combined documentation (e.g. health booklets, reports, legislation). Results The key findings are: 1)Children are born and raised between 1997 and 2002, a time characterized by a favourable socioeconomic development in Portugal in general and Cova da Moura in particular. 2)In spite of living in a so called deprived neighbourhood , the school children linear growth falls into the healthy range of the III NHANES growth reference, and it is slightly better than the linear growth of other groups of children measured in Portugal in late 1980s and early 2000. School-oriented cognitive development is not adequate, however. A third of the students have not a regular school performance. 3)Parental investment in infancy is significantly associated to prepubertal physical growth and school-oriented cognitive development. The size effect is, however, small.

This research examines the nature and impact of financial repression in the Trinidad and Tobago economy using cointegration time series techniques and disequilibrium econometrics. While the former is employed to estimate the impact on savings, investment and growth, the latter is mainly used to test whether the characteristics which depict a financially repressed economy are present in Trinidad and Tobago. Trinidad and Tobago has not previously been the subject of such a study, and neither estimation methods have been used to investigate financial repression. While the real interest has been most frequently used to measure financial repression, six proxies are utilised in this study: the real interest rate; dummy variables; commercial banks' reserve requirement; inflation; the difference between the domestic and the foreign interest rate and a variable to measure the overvaluation of a country's currency. With respect to the latter there are two definitions: the difference between the official and the blackmarket exchange rate and the degree of exchange rate misalignment. The results using real interest rates and inflation measures of financial repression suggest that while liberalisation cannot be seen as the solution to increasing savings and investment it may promote economic growth. When all the other proxies are examined the impact of financial repression on the economy is negative albeit statistically insignificant in most instances. There is some indication that exchange rate should be devalued so as to reduce exchange rate misalignment and reduce the widening gap between the official and blackmarket rate. On the basis of these results the McKinnon-Shaw hypothesis cannot be rejected. However the results when inflation and real interest rates are the relevant proxies for financial repression as well as the low significance levels of other proxies, ought to serve as warning signals to avoid implementing drastic liberalisation measures too quickly.

The economic reforms in Jordan during the last two decades have highlighted and promoted the role that non-financial firms play within the Jordanian economy. The ability of firms to play this role is in major part determined by the structure of the financial system in which they operate, and in particular whether this financial system is able to make capital available efficiently to those firms that need it. Whether this is the case can be investigated by analysing the impact of firm characteristics on some of the most important financial decisions taken by these firms, and how these decisions are influenced by the presence of market imperfections. The thesis examines the relation between the financing and investment decisions, where the effect of financial constraints on the firm’s investment decision is investigated. In particular, this thesis focuses on how financial constraints affect different firms by investigating the extent to which the reliance on internal cash flow is affected by firm characteristics such as size, age, dividend payout ratio, and market listing. We find that Jordanian firms are financially constrained, but that these constraints do not appear to be related to firm characteristics. Further, results show that Jordanian firms use debt rather than equity to finance their investment. The second empirical chapter focuses on the main determinants of firms’ capital structure. Here the results show that Jordanian firms follow the pecking order theory, where profitability and liquidity have a negative impact on the level of debt. Size and market to book value have a positive impact, supporting the view that there are significant constraints on debt financing since indicators of the financial health of the firms affect their capital structure ratio. There is also evidence that ownership structure affects the firm’s access to debt. The final empirical chapter examines the impact of firm characteristics on dividend policy, and shows that profitability and market to book value have a positive impact on dividend policy, implying that firms with better access to capital or credit pay dividends. This implies that firms retain earnings in order to ensure that they have sufficient capital to invest, confirming the initial result that Jordanian firms are financially constrained. There is also evidence of the impact of ownership structure, consistent with the predictions of agency cost theory, while institutional investors appear to follow the prudent-man restrictions, being positively associated with firms that pay dividends. This thesis confirms the presence of market imperfections that have a significant influence on the financial decisions taken by Jordanian firms. The consistent evidence of the importance of retained earnings shows that these firms face substantial constraints in terms of their access to external funds, despite the reforms to the Jordanian financial system over the last two decades.

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This dissertation aims to examine The Iran-U.S. Claims Tribunal, the largest mechanism in the history of international arbitration, located in The Hague. The central thesis considered is the unique nature of the Tribunal as embodying elements of both conflict and cooperation at a time of considerable and ongoing hostility between Iran and the United States over various issues. Iran and America, following World War II, set up a unique relationship. This close cooperation resulted in antagonism after the Islamic Revolution in 1979; the American diplomats were taken hostage, and a number of multi-billion dollar contracts and transactions were terminated. Several avenues were sought to resolve the problem. Finally, the Algerian government stepped in as an intermediary to resolve the issue. Iran and the United States agreed to establish the Tribunal in 1981. The level of confrontation between Tehran and Washington was so strong that the Tribunal suspended its operation for months. The Tribunal not only managed to survive, but it also made it possible; as a safe haven, as a legitimate forum and as a joint embassy for the parties, to extend their day-to-day cooperation for almost thirty years. How and under what conditions have Iran and America, labelled by each other as the &quot;Axis of Evil&quot; and the &quot;Great Satan&quot; been able to cooperate in the absence of diplomatic relations? How do the Agents of an allegedly &quot;World-devouring America&quot; and the &quot;Terrorist sponsoring Iran&quot; meet face to face in an institution which itself is the product of severe enmity? All such questions could be answered by the unique nature of the Tribunal: its decisions are based upon &quot;political exigency&quot; and cultural expediency &quot;rather than legal foundations.&quot; Two simultaneous forces of conflict and cooperation have been in process: at a time when the American navy was raiding the Iranian oil platform in the Persian Gulf, a big case amounting to billions of dollars was being negotiated at the Tribunal forum through an out-of court settlement process. At the time when this dissertation is produced, the same contending forces of discord and collaboration are in operation: on the one hand there exists Iran-US nuclear standoff on the international level, and on the other hand certain multi-billion dollar oil and Foreign Military Sales (FMS) are decided at the Tribunal. The Tribunal premises have been used as a forum for &quot;deliberation&quot; on major legal and political disputes. It has been both praised and blackballed. At one extreme, it has been regarded as &quot;a gold mine of information&quot; and at the other extreme its rulings are not considered to be applicable in other financial disputes because of the &quot;political compromise within the Tribunal.&quot; Iran and America have found it necessary, under the condition of uncertainty, to make concessions to ensure the integrity of the Tribunal and the latter in turn has equipped itself with a proper strategy of survival by establishing its own rules and procedures. Around four thousand cases have been brought before the Tribunal, with each case involving various conflicts of interest. In all of those issues, the forces of cooperation have prevailed. By resolving those cases, the Tribunal has achieved its fundamental objectives: conflict resolution by peaceful means. The Tribunal will cease to exist only when Iran and America open diplomatic relations.

This research extends our understanding of disclosure on the internet by considering a different research setting, namely Jordon. Two main objectives were addressed in this thesis; (1) to explore online status of listed companies and the extent to which websites are utilized to disclose IR-related information, and (2) to investigate factors influencing companies to have websites and to disclose IR information. The first objective involved a survey analysis in 2007. This showed that out of the 187 companies included in the survey, only 105 had active websites. A web-based scoring sheet was used to assess the level to which websites are utilized as an investor relations tool. Results revealed that websites are generally used to disseminate historical financial information that usually appears in paper based annual reports. The second objective of the study was approached through a mixed method paradigm, which employed quantitative and qualitative methods. The quantitative analysis showed that only two variables were found significant in predicting online presence; size and sector. On the other hand, the extent of web-based IR disclosure is positively significant with size, governmental ownership, institutional ownership, number of shareholders, and Banks. In addition it was found that this usage is significant and negative with company age. Semi-structured interviews with companies and market regulators were also carried out to investigate motivations and influences of online reporting. Interviewees explained that the decision to have an online presence was motivated by a desire to enhance company’s image and reputation, although the decision itself was often triggered by the decision to enter new, non-Jordanian markets. Moreover, the existence of international activities with other companies as well as merging with other international companies affected the way a company uses its website or how it updates and restructures the website’s components. In addition, management’s flexibility in facilitating the process of adopting new technologies was also pointed out by some interviewees as a factor affecting the level to which a company uses its website in general as well as for its IR activities in particular.

This study analyses the announcements of European mergers and joint ventures as forms of intra-European direct investment that affect the share prices of U.K. plcs. From a review of the theories of multinational enterprise and foreign direct investment in the context of European economic integration, the study emphasized the importance of the single market and its implications on foreign direct investment. A comparison is made between mergers and joint ventures as forms of foreign direct investment based on their theories and empirical evidences. The effects of the integration on European mergers and joint ventures are then examined by analysing the announcement effects. Using event study methodology, the study investigates the effects of announcements of UK plc acquisitions of European firms and their involvement in European joint ventures on the share prices of UK plcs. Both parametric and non-parametric techniques are used to measure the impact of these announcements in terms of abnormal returns and volatility of returns. The results show positive significant market reaction to the merger announcements on the announcement day for the abnormal return and on the day before the announcement for the volatility. However a significantly negative post announcement cumulative abnormal return is found. A shift of the market reaction after U. K. Is entry into the Exchange Rate Mechanism (ERM) is also found. The market reaction to the joint venture announcements is not significant on the day of announcement. However a significant positive cumulative abnormal return is found a few days prior to the announcement of the joint venture. A positive significant relationship between cumulative market reaction and U.K. Is entry into ERM is also established. Profile analysis of the significant announcements also shows the relevance of certain factors that could explain the market impact of joint ventures.

There has been concern on the part of Nigerians, in particular, and Africans, in general, as to who is controlling the economic activities in Nigeria and Africa. This concern has caused some governments in Africa to initiate laws and regulations that tilt toward the encouragement of Africans to invest or buy shares in areas that are known to be controlled by foreign investors. This study examines the extent and the impact of direct private foreign investment in Nigeria. Data obtained on Nigeria and other African countries were employed. The result suggests that there is foreign investment in the major economic activities in Nigeria and that the inflow foreign investment has not helped the economic development of Nigeria.

Recognition of Prior Learning (RPL) is an internationally accepted process of assessing non-formal learning with the intention of matching it to academic credits. This allows the candidate to earn either a full or partial qualification based on knowledge and/or skills acquired outside of the formal classroom. The South African insurance sector was faced with legislation requiring all financial advisers to earn academic credits before they could continue in the industry. The sector believed that the RPL process would suit their circumstances because most financial advisers had many years of workplace experience and had mostly attended many internal, but often unaccredited, product training programmes. However, there was no RPL implementation model to guide a workplace implementation of this nature as most RPL models followed the practices set by formal higher education providers and there was no consideration of the many variables that have an impact in the workplace. This research set out to design a logic model to guide the implementation of workplace RPL in the insurance sector. The data was collected during the evaluation of an RPL implementation programme that had good results but which used the more individualistically inspired RPL approach of formal education. The data was analysed using grounded theory data analysis techniques (Strauss & Corbin, 1998 and Glaser & Strauss, 1967) and the result was the identification of 18 broad categories. Further analysis reduced these to five categories, i.e. reaction to the circumstances requiring the RPL, personal mastery, team support, changing perceptions towards the RPL process, and perceived outcome of the RPL process. These categories were researched by looking at the most influential traditional and workplace learning theorists, as well as the most influential RPL theorists. Finally, a secondary data analysis was conducted on 18 workplace RPL case studies described by Dyson and Keating (2005). The results of this research were formulated into a logic model to guide RPL implementation in the insurance sector. Using this logic model as a guide, further recommendations were made to guide workplace RPL implementation in the future. / Prof. W.J. Coetsee Dr. L. Beekman