published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

by Wong Chung Man. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1991. / Bibliography: leaves 72-73. / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / ACKNOWLEDGEMENT --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Cash Flow Destablization due to Floating Exchange Rate --- p.2 / Role of Currency Risk Management in the Past --- p.2 / Changes Perceived in the Future --- p.3 / Scope of the Study --- p.4 / Objectives of the Study --- p.4 / Chapter II. --- METHODOLOGY --- p.6 / Overall Design --- p.6 / Data Used in the Study --- p.6 / Time Covered by the Study --- p.6 / Analytical Tools --- p.7 / Standard Deviation --- p.7 / Linear Correlation --- p.7 / Technical Analysis --- p.8 / Fundamental Analysis --- p.10 / Chapter III. --- DEFINITION OF CURRENCY RISKS --- p.15 / Non-Recurring --- p.15 / One-Off --- p.15 / Dealing Risk --- p.16 / Recurring --- p.17 / Financial Structural Risk --- p.17 / Business Structural risk --- p.18 / Chapter IV. --- WHY CURRENCY RISKS ARISE --- p.19 / Individual or Household --- p.19 / Investment/Speculation --- p.19 / Overseas Commitment --- p.19 / Corporation or Firm --- p.20 / Risks Indirectly Associated with Foreign Exchange --- p.20 / Risks Directly Associated with Foreign Exchange --- p.23 / Chapter V. --- CURRENCY RISK MANAGEMENT IN 80'S - A RETROSPECT --- p.24 / Change of Sophistication --- p.24 / 1980 - 1984 --- p.24 / 1985 - 1987 --- p.26 / 1988 - 1990 --- p.28 / Currency Characteristics and Correlations --- p.30 / Findings --- p.31 / Weakness of Economic Models --- p.35 / No Stable Relationship Between Current Account and Exchange Rate --- p.35 / Positive Relationship Between Interest Rate and Exchange Rate --- p.35 / Protracted Long Run Movements of Real Exchange Rate --- p.36 / Chapter VI. --- ROLE OF TECHNICAL ANALYSIS IN CURRENCY RISK MANAGEMENT --- p.37 / Concept of Near-Rationality --- p.37 / Exchange Rate Determination in Near-Rational World --- p.40 / Test of Technical Analysis --- p.42 / Chapter VII. --- CONCLUSION --- p.47 / Prospects in the Nineties --- p.48 / APPENDIX --- p.67 / BIBLIOGRAPHY --- p.72

To solve the conflict between limited fiscal funds and increasing demands to strengthen infrastructure construction, Public Private Partnership (PPP) was introduced by the Chinese government as an effective approach to make use of private investment to implement infrastructure projects. To provide services or facilities for public use, in PPP, participants pool their skills and resources while at the same time sharing the risks and rewards. The application of PPP could not only ease the government’s financial pressure, but also improve the efficiency of infrastructure construction and ensure the service quality of projects. Although PPP produces these benefits, the complexity and long-term features of PPP projects expose participants to more risks than in traditional projects. Therefore, risk management of participants is critical to the success of PPP projects. As an innovative procurement approach involves a variety of stakeholders over a long time span, it is necessary to investigate how to appraise and recognize PPP project success. In addition, although risk management has attracted much attention, few studies examine the detailed link between various dimensions of risk management and PPP project success. This research therefore intends to fill these two gaps. Compared with countries in the West, PPP was introduced into China relatively recently. A comparative study was employed in this research in order to understand the Chinese situation and to make use of the experience of other countries to critique PPP project performance in Mainland China. In this study, a two-pronged research program—comprising quantitative and qualitative approaches—was used to test and validate the tripartite theoretical model which was set up based on Transaction Cost Economics (TCE), Resource-based View (RBV) and Relational Exchange Theory (RET). In the quantitative study, questionnaire surveys were conducted concurrently in Mainland China and other places. Hierarchical Multiple Regression was used to explore the relationships posited in the research framework. To provide supportive and complementary evidence to the quantitative data, a case study of a PPP project in Mainland China was undertaken. Open-ended interviews and the thematic analysis technique were adopted in the case study. Taken together, the findings indicated that although the facets of risk management significantly affect project success, there are subtle different influences on different stakeholders’ benefits. For example, the uncertainty of social issues and economic issues will affect public partner’s benefits while the uncertainty of political & institutional issues, economic issues and project specific issues are directly influence private partner’s benefits. To maximize their own interests, different stakeholders should pay more attention to the influencing factors that are specifically associated with them. Meanwhile, it is demonstrated that individual efforts on risk management also contribute to the benefits of other stakeholders as well as to the whole industry development. In addition, the comparative study suggests that public partners of PPP projects in Mainland China could refer to the risk management experience of public partners from other countries to make an appropriate risk management commitment and better manage risks. On the other hand, private partners of PPP projects in Mainland China need to pay more attention to the macro-control of the government so as to protect their rights and interests. / published_or_final_version / Real Estate and Construction / Doctoral / Doctor of Philosophy

published_or_final_version / Business Administration / Master / Master of Business Administration

University of Macau / Faculty of Business Administration. / Department of Accounting and Information Management

jointly presented by Lau Chi Yuen, Joseph, Wong Chi Ho. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 92-96). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iv / Chapter CHAPTER I --- INTRODUCTION --- p.1 / Chapter CHAPTER II --- THE MOTIVATION OF DERTVATIVES TRANSACTIONS --- p.3 / Chapter CHAPTER III --- MAJOR TYPE OF DERIVATIVES TRADING IN EXCHANGE MARKET AND OTC MARKET IN HONG KONG --- p.7 / Exchange Traded Derivatives --- p.7 / Index Option --- p.7 / Strategies of option trading --- p.9 / Ratio covered writing --- p.9 / Bull/Bear Spreads --- p.10 / Butterfly Spreads --- p.11 / Calendar Spreads --- p.12 / Straddle --- p.13 / Strips and Straps --- p.14 / Strangles --- p.14 / Index Future --- p.15 / Spreading Trading --- p.16 / Warrants and Covered Warrants --- p.16 / Other derivatives --- p.19 / OTC (Over-The-Counter) Derivatives --- p.20 / Equity or equity-linked derivatives --- p.20 / Advantages of equity-linked derivatives --- p.20 / Equity-Linked Debt Instruments --- p.21 / Equity Swaps --- p.23 / The Future of Equity Swap Market --- p.27 / Equity options --- p.27 / OTC Stock options --- p.28 / Collar --- p.28 / Spread Call or Put (Capped Call or Put) --- p.29 / Barrier options --- p.30 / Convertible Bonds --- p.31 / OTC Currency Derivatives --- p.31 / Currency Options --- p.32 / Currency Swaps --- p.33 / Currency forwards --- p.33 / Currency Asian Option --- p.33 / Interest Rate Derivatives --- p.34 / Interest rate swap --- p.34 / Interest rate swaptions --- p.35 / Interest rate forward swaps --- p.35 / "Interest rate cap, floor and collar" --- p.35 / Chapter CHAPTER IV --- GROWTH OF ASIAN AND HONG KONG DERIVATIVES MARKET --- p.37 / Bookrunners in Asia --- p.39 / Growth of OTC markets in Asia --- p.41 / Chapter CHAPTER V --- PRICING MODELS FOR THE DERIVATIVES --- p.46 / Black-Scholes differential equation --- p.46 / For HSI call option --- p.47 / For HSI put options --- p.47 / Binomial Trees Model --- p.50 / Valuation of Convertible Bond --- p.50 / Swap Pricing - Banker rs Perspective --- p.51 / Decreasing Profit Margin in Swap Deal --- p.53 / Chapter CHAPTER VI --- THE APPLICATION OF DERIVATIVES IN HONG KONG MARKET --- p.54 / Corporations --- p.54 / Lowering Funding Costs through Arbitrage Opportunity or Issuance of Customized Instruments --- p.55 / Diversifying Funding Sources --- p.55 / Funding Operations in Multiple Countries at Lowest Cost --- p.56 / Managing Foreign Exchange Exposures --- p.56 / Hedging the cost of Issuing Floating-Rate and Fixed-Rate Debt --- p.57 / Hedging the Cost of Anticipated Issuance of Fixed-Rate Debt --- p.58 / Managing Existing Debt of Asset Portfolio --- p.58 / Institutional Investors --- p.59 / Enhancing Yields Through Arbitrage Opportunities --- p.59 / Asset Allocation using Swap --- p.59 / Synthetic Equity --- p.59 / Synthetic FRN --- p.60 / The Benefits of Swap in Asset Management --- p.62 / Eliminate Currency Risk --- p.62 / Managing Risk Exposure with Customized instruments --- p.63 / Individual investors --- p.63 / "Financial Institutions," --- p.64 / Greater Progress in Asian Markets Risk Management Still Lies Ahead --- p.64 / Chapter CHAPTER VII --- RISK MANAGEMENT --- p.65 / Concerns of risk management --- p.65 / "What can be done by the clients," --- p.67 / What can be done by regulators --- p.69 / Chapter CHAPTER VIII --- RISK MANAGEMENT - BANKERS PERSPECTIVE --- p.71 / Reasons for Investment in risk management --- p.71 / Profit by taking more of the right risks --- p.71 / Internationalization of markets --- p.72 / Greater variety and complexity of financial instruments --- p.73 / Risk management in Action --- p.74 / A Common Framework in Risk Management --- p.74 / Identification --- p.74 / Measurement --- p.74 / Management --- p.76 / Measuring Volatility - Past Vs Future --- p.76 / Market Risk Management --- p.78 / Basic Information Views --- p.78 / Trader's View --- p.79 / Accountant's View --- p.79 / Management's View --- p.80 / Simulation to Describe Risks --- p.80 / Reality Check --- p.83 / Reporting in Action --- p.84 / "Risk Management at Large Investment Banks Today," --- p.85 / APPENDIX I SIMULATION OF DELTA HEDGING --- p.88 / BIBLIOGRAPHY --- p.92

Bai Ling. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2005. / Includes bibliographical references (leaves 77-80). / Abstracts in English and Chinese. / INTRODUCTION --- p.1 / Chapter 1.1 --- Background --- p.1 / Chapter 1.2 --- Research Approach and Design --- p.4 / Chapter 1.3 --- Organization of the Thesis --- p.5 / LITERATURE REVIEW ON CREDIT RISK MODELING --- p.6 / Chapter 2.1 --- Overview --- p.6 / Chapter 2.2 --- Discriminant Analysis --- p.8 / Chapter 2.3 --- Logit Regression --- p.10 / Chapter 2.4 --- Regression and Classification Tree (CART) --- p.10 / Chapter 2.3 --- Chapter Summary --- p.12 / FALSE FINANCIAL STATEMENTS DETECTION --- p.13 / Chapter 3.1 --- Overview --- p.13 / Chapter 3.2 --- Empirical Studies on Financial Scandal and False Financial Statements (FFS) --- p.14 / Chapter 3.3 --- False Financial Statements (FFS) Detection --- p.17 / Chapter 3.4 --- Chapter Summary --- p.23 / RESEARCH METHODOLOGIES IN CREDIT SCORING & FALSE FINANCIAL STATEMENTS DETECTION --- p.25 / Chapter 4.1 --- Overview --- p.25 / Chapter 4.2 --- Logit Regression --- p.26 / Chapter 4.3 --- Classification and Regression Tree (CART) --- p.31 / Chapter 4.4 --- Chapter Summary --- p.34 / PROPOSED STUDY FRAMEWORK --- p.35 / Chapter 5.1 --- The COMPLETE Framework --- p.35 / Chapter 5.2 --- Rating Process --- p.43 / Chapter 5.3 --- Chapter Summary --- p.45 / DEVELOPING THE CREDIT SCORING MODEL --- p.46 / Chapter 6.1 --- Overview --- p.46 / Chapter 6.2 --- Sample --- p.46 / Chapter 6.3 --- Variables --- p.47 / Chapter 6.4 --- Result of the Univariate Analysis --- p.49 / Chapter 6.5 --- Develop the Bankruptcy Risk Model with Logit Regression --- p.50 / Chapter 6.6 --- Chapter Summary --- p.54 / INVESTIGATING FALSE FINANCIAL STATEMENTS --- p.55 / Chapter 7.1 --- Overview --- p.55 / Chapter 7.2 --- Impact of False Financial Statements (FFS) on Credit Risk Assessments - Evidence from Lantian's Case --- p.55 / Chapter 7.3 --- Evaluating the Trustworthiness Aspect for Lantian --- p.56 / Chapter 7.4 --- Analyze FFS with Statistical Tools --- p.59 / Chapter 7.5 --- Chapter Summary --- p.73 / SUMMARY --- p.75 / REFERENCES --- p.77

published_or_final_version / Sociology / Master / Master of Social Sciences

published_or_final_version / Real Estate and Construction / Master / Master of Science in Construction Project Management