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 –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. / Magister Legum - LLM

The Master Thesis are dedicated to the analysis of the interrelationship of the term „investment“ of Article 25(1) of the ICSID convention and criterion of the contribution to the development of the host state, which is argued to be part of the definition of investment. The aim of this paper is to draw a map for a legal practitioner, of ways of application and non-application of the criterion of the contribution to the development of the host state. Analysis provided in the Master Thesis explaines how and why the criterion of the contribution to the development of the host state may be applied or not applied within the three divergent approachres to the term „investment“ Article 25(1) of the ICSID convention: the subjective approach, the autonomous objective approach and the autonomous intuitive approach. / Paradoksalu, tačiau net po beveik penkiasdešimties metų sėkmingo veikimo Pasaulio banko įsteigtame tarptautiniame užsienio investicijų apsaugos režime vis dar nesutariama dėl pačios termino „investicija“ sąvokos. 1965 m. Konvencijos dėl valstybių ir kitų valstybių piliečių ginčų investicijų srityje sprendimo (toliau – ICISD konvencija) 25(1) straipsnis įtvirtina investicijos terminą kaip jurisdikcinį kriterijų, tačiau jo neapibrėžia. Tai sąlygoja skirtingą termino „investicija“ interpretavimą tarp jį taikančių arbitražinių tribūnolų. Nagrinėjant investicijos terminą įdomu tai, jog tarp įvairių šiam terminui apibrėžti taikytų kriterijų yra vienas kriterijus išsiskiriantis savo kontraversiškumu. Tai prisidėjimo prie ekonominio valstybės vystymosi kriterijus. Atsižvelgus į šį kontroversiškumą, šio baigiamojo magistro darbo tikslu tapo noras sukurti aktualų žemėlapį, kuriame atsispindėtų būdai įtraukti arba pašalinti minėtą potencialų investicijos kriterijų iš investicijos termino sąvokos.

Tax incentives have been used by countries to stimulate foreign investment. Few countries doubt the effectiveness of tax incentives. Canada and Indonesia are among the many countries that offer tax incentives to attract investors. While Canada has a long history of using tax incentives to foster the development of the Alberta oil sands, Indonesia is just embarking on this strategy, especially in promoting foreign investment in remote areas. Drawing on the Canadian development of the Alberta oil sands, this thesis asks what lessons Indonesia can learn from that experience in relying on tax incentives to develop the industry. This thesis acknowledges that there are many important differences between Canada and Indonesia. Since most countries speak of using tax incentives to finance their petroleum industries, it is worth examining at least one instance of that strategy and see whether Indonesia can extract any thing of value from this examination.

Using a panel data set spanning from 2005 to 2012 and drawn from 35 Sub-Saharan African countries, this paper examines the relative impact of corruption on the inflow of foreign direct investment. This study is motivated by the recent influx of political and media attention on the African continent that is poised to receive billions of dollars in investment over the coming years. It is argued in this paper that there is no significant link between the two variables. There did appear to be a negative skew meaning higher levels of perceived corruption resulted in less FDI inflows, while few countries returned with a positive relationship.

No description available.

Gharar (excessive risk or uncertainty) is prohibited in Islam and its presence in financial contracts makes these contracts null and void. The prohibition of gharar can also extend to investing in stocks. Very few studies have investigated how gharar affects stocks in investing. Consequently, very few studies suggest tactics and strategies that can be employed for gharar reduction in the case of stock investing. The thesis attempts to investigate the topic of gharar in terms of stock investing. The thesis is far from developing a theory of gharar in terms of stock investing, however it is an attempt to establish the foundation for rationalising and understanding gharar in terms of stock investing. For this purpose, the thesis employs qualitative analysis, and depends on different types of secondary sources of information. The thesis extensively interprets and presents findings, and analyses the data derived from scholarly writings on the topic of gharar, which can be found in journal articles, books and several conference papers. The thesis also examines a sample of the screening criteria of Islamic Equity Funds (IEFs), since it is the only indicator explaining the guidelines Muslims pursue when tending to invest in stocks. In this regard, the sampling strategy employed is Critical Case Sampling. The thesis examined all Islamic Equity Indexes and a number of the major Islamic Equity Funds. It has been found that the screening criteria of Islamic Equity Funds is limited to two matters: (1) excluding firms that are associated with impermissible activities and operations e.g. financial services firms and casinos, and (2) excluding firms highly involved with interest-rate based transactions. Despite the fact that screening criteria of Islamic Equity funds are supposed to be strictly derived from the basic tenets of Islamic law, thus far, gharar is excluded from these screens. For the purpose of incorporating gharar into the screening criteria of Islamic Equity Funds, the thesis first suggests a definition of gharar in terms of stock investing, which is based on the commonalties found in the different interpretations of Muslim scholars of gharar. Muslims need to focus on avoidable (controllable) risk in a proper manner, and attempt not to rely on pure chance in achieving the desired profit or return. Secondly, the thesis suggests a number of conventional strategies for risk reduction that can be successfully used for gharar reduction. Thirdly, the thesis explores the different conventional stock valuation models e.g. Value Investing, Modern Portfolio Theory (MPT) and Derivatives. It has been observed that the different types of derivatives in Islam are prohibited for several reasons. Several tactics and ratios derived from Value Investing and MPT can be successfully used to for gharar reduction purposes. In regards to Value Investing, the following ratios and tactics can be used for gharar reduction: different Multiple ratios, long-term investing, intrinsic value and fundamental analysis. Two main issues can be beneficially derived from MPT: the portfolio approach and beta ratio. However, note that several modifications have been performed on these suggested ratios and tactics in order to comply with the basic tenets of Islamic contract law. Last but not the least, both the Value Investing and MPT fall short of assessing any non-financial but nevertheless fundamental activities of the firm.

No description available.

Typescript. / Thesis (Ph. D.)--University of Hawaii at Manoa, 1983. / Bibliography: leaves 225-234. / Microfiche. / xi, 234 leaves, bound ill. 29 cm

<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>

We study the infinite time ruin probability for an insurance company in the classical Cramér-Lundberg model with finite exponential moments. The additional non-classical feature is that the company is also allowed to invest in some stock market, modeled by geometric Brownian motion. We obtain an exact analogue of the classical estimate for the ruin probability without investment, i.e., an exponential inequality. The exponent is larger than the one obtained without investment, the classical Lundberg adjustment coefficient, and thus one gets a sharper bound on the ruin probability. A surprising result is that the trading strategy yielding the optimal asymptotic decay of the ruin probability simply consists in holding a fixed quantity (which can be explicitly calculated) in the risky asset, independent of the current reserve. This result is in apparent contradiction to the common believe that 'rich' companies should invest more in risky assets than 'poor' ones. The reason for this seemingly paradoxical result is that the minimization of the ruin probability is an extremely conservative optimization criterion, especially for 'rich' companies. (author's abstract) / Series: Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science"