Charge / Credit card market is very competitive in Taiwan which grew from nothing in 1989 to 44 Million cards by the end of 2004. With the brutal competition in this industry, issuers tend to lower their profit margin to trade for the higher market share. What is their ultimate objective? How they prioritize their business strategy and finance strategy in different competition stage? Understand the credit card market and prospect segmentation definitely play a big role for issuers to scope their target prospects then design the right product to fit their selected cardmembers’ needs. Compare the world leading card issuer Citibank with the largest issuer in Taiwan Chinatrust Commercial Bank, what make the world’s largest issuer can not be the number one in Taiwan? What is the impact on different business strategy and financial strategy? How regulator should react to proper discipline the over-heated credit card market? From financial analytical method perspective, what should be the right measurement to be used in the credit card market? ROI, NPV or RORC? In this thesis, I also cover the discussion between “Niche Market but High Margin Approach” and the “Mass Market but Low Margin Approach” together with the importance of the organizational impact. To provide a insight on the different strategy to be used in the different business developed stage. With all the above, I put together the conclusion and suggestion of my own to the Charge / Credit Card business.

This thesis deals with financial planning. On one hand with its theoretical handling, on the other hand with its particular application on a specific business, the Channel Crossings company. The main objective of the paper is to assess the process of the financial planning in this particular company and at the same time to identify, how this company uses the approaches known from the theory of financial management in practise. The information included in this thesis should be exploitable for the assessment of theoretical approaches to the financial planning, as well as for the management of the company in question how to re-evaluate and optimize the current financial planning process.

The aim of the work is to make an analysis of the financial situation in the company "K" in the term of 2004 to 2014, to appraise influences of the environment, that have an impact on the company and on the base of the gotten results to suggest a financial strategy. The work is composed of two parts: theoretical part and practical part.In the theoretical part, there are described methods of the financial and non-financial analysis which are used in the frame of suggestion of a financial strategy. Practical part contains informations of the analyzed company, real analysis of the financial indicators and non-financial factors and the real strategy formation. Strategy goals in the financial field are suggested in order to improve a situation in critical points, that over a long period are in difficulties.

Bakgrund: Den privata vårdsektorn är en sektor som karaktäriseras av stark tillväxt. Behovet av vård kommer alltid att finnas och i takt med att människan lever längre ökar även trycket på vården. Den privata vårdsektorn har skapat en debatt i samhället där man ifrågasätter att offentliga medel går till vinster i privata vårdföretag. Därav är det av allmänt intresse att analysera vårdföretagens ekonomiska utveckling och risk. Syfte: Att utreda vilka finansiella strategier privata vårdföretag tillämpar och om de byggt upp tillräcklig finansiell styrka (kapitalstruktur) för en långsiktig utveckling. Metod: Uppsatsen bygger på en kvantitativ metod där information baseras på årsredovisningar under en 10-årsperiod. Utifrån den finansiella informationen beräknas nyckeltal för att beskriva företagens kapitalstruktur och prestation. Därefter görs en ingående analys av resultat- och balansräkning för respektive företag. Uppsatsen använder sig av hävstångsformeln som huvudsakligt analysverktyg för att analysera om företagen vinstmaximerar eller om de har en mer långsiktig finansiell strategi för att uppnå finansiell styrka. Resultat, slutsatser: Genom vår analys av vårdföretagens rörelserisk har utredningen funnit att en rimlig balans mellan rörelserisk och finansiella styrka uppnås vid en soliditet på 40 % som är genomsnittet för bolag på Stockholmsbörsen. De små vårdbolagen (som är den dominerande företagsformen) uppnår mer än väl balans mellan rörelserisk och finansiell styrka. Deras soliditet uppgår i regel till ca 50 %. Företagen har hög lönsamhet och som finansiell strategi väljer de att inte vinstmaximera genom att belåna sig och utnyttja hävstångseffekten. Tre av de marknadsledande företagen har en dålig lönsamhet och en soliditet som är betydligt lägre än börsgenomsnittet. Den låga soliditeten kompenseras helt eller delvis av att företagen har starka ägare med möjlighet att tillföra kapital via aktieägartillskott och nyemissioner vid behov. Den fjärde av de marknadsledande större vårdföretagen har hög lönsamhet och högre soliditet än börsgenomsnittet. Även detta företag väljer att liksom de mindre vårdföretagen att inte belåna sig och utnyttja hävstångseffekten för att maximera vinster. / Background: The private health sector is a sector that is characterized by growth. The need for care will always be, and as the human lives longer it will also increase the pressure on health care. The private health sector has created a debate in the community in which the dividends allocation is being questioned. Hence, it is of general interest to analyze healthcare companies' financial performance and risk. Purpose: To investigate the financial strategies that private health care companies apply and if they have built up sufficient financial strength (capital structure) for long term development. Methodology: The essay is based on a quantitative method where information is based on annual reports over a 10-year period. Based on the financial information financial ratios are calculated to describe firms' capital structure and performance. Thereafter, a detailed analysis of the income statement and balance sheet is made for each company. The essay uses effects of leverage as the main analytical tool for analyzing how firms maximize profits or if they have a more long-term financial strategy. Conclusion: Through our analysis of healthcare companies operating risk, the investigation found that a reasonable balance between business risk and financial strength is achieved at an equity ratio of 40 % which is an average for companies on the Stockholm stock exchange. The small healthcare company (which is the dominant company form) achieve a balance between business risk and financial strength. Their equity ratio is usually around 50 %. Companies have high profitability and as financial strategy they choose not to maximize profits by leveraging themselves and use the effects of leverage. Three of the market leaders have a poor performance and a solvency that is significantly lower than the market average. Their strong owners compensate the low equity ratio with the ability to provide capital through shareholder contributions and new issues as necessary. The fourth of the leading major healthcare companies have high profitability and higher solvency than the market average. This company also chooses to, like the smaller healthcare companies not to use leverage and use the effect of leverage to maximize their profit.

This master’s thesis analyses problems connected with financial managing of the company BAUER-AGROMILK Inc. through basic methods of the technical financial analysis. It includes proposal financial strategy of the company.

This master´s thesis analyses problems connected with financial managing of the company V. P. M. – TRANS s. r. o., through basic methods of the technical financial analysis. It includes rationalization of the company´s financial situation.

Business leaders remain exposed to financial and accounting fraud as well as loss of profitability, despite the dictates of the SOX Act of 2002. The most challenging aspect of corporate management is the unexpected nature of an emerging, existing, or an inherent financial risk. Guided by the evolution of fraud theory, this exploratory case study's purpose was to identify and explore the financial management strategies that corporate financial managers need to adequately protect investors. Twenty participants from a population group of corporate auditors of Fortune 1000 corporations within 70 miles of Columbus, Ohio provided input for this study. Data from the interviews were analyzed through coding, reviewing, categorizing, and combining common statements. The research findings included themes of knowledge and types of risks; the impact of financial fraud and risks on investment; the impact of accounting, auditing, and financial reporting standards; as well as financial management training to minimize audit expectations. These themes formed the focus of exploring the financial management strategies that corporate financial managers need to adequately protect investors and investments. In addition to the antifraud measures, financial managers may detect and control inherent risks in emerging opportunities for positive social change that includes enhanced knowledge in diversification of investments, an increase in economic resources, economic growth, and greater employment in the United States.

The real estate sector has been heavily impacted by rising inflation and subsequent interest rate increases. This is placing pressure on all real estate companies with higher levels of debt. The rising interest rates are leading to increased costs and making it more challenging for these companies to refinance their loans. As a result, real estate companies are facing greater financial strategy challenges compared to the previous era of low interest rates.  The aim of this paper is to explore how Swedish real estate companies navigate in a financial perspective during economic cycles, investigating their strategies during and prior to an economic downturn. Previous research has explored the risk management strategies used by real estate companies to prepare for a potential upcoming recession during the Covid-19 pandemic. Additional research has addressed real estate strategies during the 2008 crisis. However, this study specifically focuses on the current market situation characterized by increasing inflation and interest rates. A qualitative research method is utilized to explore real estate companies' financial strategies during and prior to an economic downturn in the current market. The study commenced by selecting real estate companies of various sizes, representing different market segments, and encompassing both privately owned and publicly traded firms. This approach provided a comprehensive perspective and allowed for the identification of differences and similarities among the companies. 15 semi-structured interviews were then conducted with representatives from these companies, primarily CEOs and CFOs. The findings highlighted variations in strategies and preparations prior to an economic downturn. One significant finding from the study is the divergence in approaches among companies when facing an impending crisis. Only a few companies attempt to predict market trends, while others adjust their strategies only after an economic downturn has occurred. Many companies underscore the importance of stable cash flows, diversified financing, and careful monitoring of the interest coverage ratio, particularly in the current market environment. The relationship with banks and rating agencies also becomes increasingly crucial. While real estate companies share similarities in adapting to market conditions, their specific approaches and strategiesdiffer based on factors such as portfolio composition, financing preferences, tenant considerations, and acquisition strategies. / Fastighetssektorn har påverkats kraftigt av stigande inflation och följande räntehöjningar. Nuvarande konjunkturnedgång sätter press på fastighetsbolag med högre belåningsgrad eftersom räntehöjningarna skapar ökade kostnader samt gör refinansiering av lån till en störreutmaning. Detta har gjort att fastighetsbolagen har blivit mer pressade i sina finansiella strategier, till skillnad från under den tidigare nollräntemiljön. Syftet med denna studie är att undersöka hur svenska fastighetsbolag navigerar ur ett finansiellt perspektiv under konjunkturcykeln, samt att undersöka deras strategier under och inför en konjunkturnedgång. Tidigare forskning har utforskat riskhanteringsstrategier som fastighetsbolag använder för att förbereda sig för en potentiellt kommande recession under Covid-19-pandemin. Ytterligare forskning har behandlat fastighetsstrategier under 2008- krisen. Denna studie fokuserar specifikt på den nuvarande marknadssituationen som kännetecknas av stigande inflation och räntor. En kvalitativ forskningsmetod används för att utforska fastighetsbolagens finansiella strategier under och före en ekonomisk nedgång i den nuvarande marknaden. Studien inleddes med att välja fastighetsbolag av olika storlekar, som representerar olika marknadssegment, och innefattar både privatägda och börsnoterade företag. Detta tillvägagångssätt gav ett omfattande perspektiv och möjliggjorde identifiering av skillnader och likheter bland företagen. 15 semi-strukturerade intervjuer genomfördes med representanter från dessa företag, främst VD:s och CFO:s. Resultatet belyser variationer i strategier och förberedelser inför en konjunkturnedgång. En upptäckt från studien är skillnaderna i tillvägagångssätt bland företagen när de står inför en kommande kris. Endast ett fåtal företag försöker förutse marknadstrender, medan andra justerar sina strategier endast efter att en ekonomisk nedgång har inträffat. Många företag betonar vikten av stabila kassaflöden, diversifierad finansiering och noggrann övervakning av räntetäckningsgraden, särskilt i den nuvarande marknadsmiljön. Relationen med banker och ratinginstitut blir också viktigare. Medan fastighetsbolag delar likheter i anpassningen till marknadsförhållanden, skiljer sig deras specifika tillvägagångssätt och strategier baserat på faktorer som portföljsammansättning, finansieringspreferenser, hyresgästöverväganden och förvärv.

N/A / In the previous academic studies, there are different views on the pros and cons for diversified firms and focus firms. On the other hand, most of previous works show that going to globalization is quite a definite trend and able to generate values for its shareholders. Both topics are especially critical for contemporary multi-business multinational firms, of which GE is a very typical example. In this study, we intend to conduct comprehensive analysis of the business and financial strategy that GE uses to grab deeper understanding of how a globally diversified company should leverage its competitive advantages to pursue growth and great performance. We also provide our views on some of the potential issues for firms like GE and recommend some measures to be done to make those companies more financially sound. From the result of our case study, we primarily conclude that diversification is good if the company can leverage the power of its various businesses and use the resources of one business to support the others in a reasonable manner. It is also crucial that the diversified firm should do its best to maintain its transparency to the outsiders to remove their concerns about information asymmetry. Furthermore, from the case of GE, it is also suggested that globalization should do a company with the scale like GE’s more good than harm. Going globally is actually an inevitable direction for most of the companies in the future.

Made available in DSpace on 2016-04-28T20:19:27Z (GMT). No. of bitstreams: 1 2009 - Daniel Ferreira Falcao.pdf: 1682485 bytes, checksum: 82658683c203f050466a2fadc4384cf2 (MD5) Previous issue date: 2009-05-15 / The real estate market is the social mechanism of coordination about the individual decisions to localization and use of the ground urban, thus this coordination appears a city whose ground urban is used in way more efficient. This market has the responsibility to conciliate the freedom to act individually with exploitation in the use of the resources of the society. The systems of home loans, that are instruments to regulation the urban regimen, it possess an important position, therefore these are strategical for the structure and the consolidation of the real estate market urban capitalist. The objective of this study is to compare the perception of three residential constructors with headquarters in this city, Rio de Janeiro, at different moments of operational maturity, agility in the captation of financial resources to develop its operation and its positioning of market, through the Market of Home loans. The sector of residential civil construction was chosen had its great evolution throughout the last decades. Although the financial crises and reduction of jobs in general terms in the last years, this sector it showed a growth that allowed it assume a role of leadership in terms of investments, to absorb man power and generation of work ranks. The used methodology was bibliographical research and additionally study of multiple cases. The case study it had as main objective to promote a critical reflection about the premises assumed through the formularization of the hypotheses at the beginning of the research, recognizing with bigger depth the main events of last decade related of the real estate market, the obstacles in the evolution of the home loans faced by the companies, amongst other aspects. Considering the hypothesis of that the speed, the degree of development and the amount of chances of the constructors, in last the 5 years, were very superior what it was lived by the constructors in the past most remote and that the access to the market of home loans has been determinative factor for the positioning of these constructors in the real estate market. The main results show us a enormous dependence of the residential civil construction in specific relation to the funding of home loans - plano empres?rio - offered by the traditional financial institutions. Moreover, the main points for improvement of the market, identified for the interviewed ones, had been: reduction of related taxes the man power, fiscal changes to reduce taxes related to the real estate financings and additionally to reduce the difficulties in the process of approval of projects that currently generates legal unreliability in the sector. / O mercado imobili?rio ? o mecanismo social de coordena??o das decis?es individuais de localiza??o e uso do solo urbano, de forma que desta coordena??o surge uma cidade cujo solo urbano ? (ou deveria ser) utilizado da forma mais eficiente. Cabe a esse mercado conciliar a liberdade de a??o individual com a efici?ncia no uso dos recursos da sociedade. Os sistemas de cr?dito imobili?rio, que s?o instrumentos de regula??o do regime urbano, possuem uma relev?ncia bastante consider?vel, posto que os mesmos sejam estrat?gicos para a estrutura??o e a consolida??o do mercado imobili?rio urbano capitalista. O objetivo deste estudo consiste em comparar a percep??o de tr?s construtores de im?veis residenciais com sede na cidade do Rio de Janeiro, em momentos distintos de maturidade operacional, quanto a obten??o de recursos financeiros para alavancagem de sua produ??o e posicionamento no mercado, atrav?s do Mercado de Cr?dito Imobili?rio. A escolha do setor de constru??o civil residencial se d? pela sua evolu??o ao longo das ?ltimas d?cadas mesmo com a crise dos ?ltimos anos e com a redu??o dos postos de trabalho, o crescimento do setor lhe permitiu assumir um papel de lideran?a em termos de investimentos, absor??o de m?o-de-obra e gera??o de postos de trabalho. A metodologia usada foi a pesquisa bibliogr?fica seguida de estudo de casos m?ltiplos. O estudo de caso teve como principal objetivo promover uma reflex?o cr?tica junto ?s premissas assumidas na formula??o das hip?teses de partida para a pesquisa, reconhecendo com maior profundidade os principais acontecimentos da ultima d?cada para o crescimento do mercado imobili?rio, os obst?culos na evolu??o do mercado do cr?dito imobili?rio enfrentados pelas empresas, dentre outros aspectos. Considerando a hip?tese de que a velocidade, o grau de desenvolvimento e a quantidade de oportunidades das construtoras, nos ?ltimos 5 anos, foi muito superior ao que foi vivido pelas construtoras no passado mais remoto e que o acesso ao mercado de cr?dito imobili?rio tem sido fator determinante para o posicionamento destas construtoras no mercado imobili?rio. Os principais resultados obtidos apontam para uma grande depend?ncia da constru??o civil residencial em rela??o a um funding espec?fico do financiamento a produ??o o Plano Empres?rio oferecido pelas institui??es financeiras tradicionais. Al?m disso, os principais pontos para melhoria do mercado, apontados pelos entrevistados, foram: a desonera??o fiscal da m?o-de-obra, medidas fiscais em busca de redu??o dos tributos relacionados a venda e financiamento de im?veis e adicionalmente a desburocratiza??o do processo de aprova??o de projetos que tem provocado inseguran?a jur?dica no setor.