Inflated forecasts drove stock prices upwards. At same time Nortel executives enjoyed an extravagant lifestyle at the expense of employee retirement accounts and benefits (Austin, 2012)
The Rise and Fall of the Tech Sector The rise of the Internet meant the founding and sometimes quick downfall of Internet-based companies. Many companies increased their stock price by simply adding the prefix "e" to their name (Galbraith & Hale, 2004)
Like many dot-coms, investor thought it was a great idea that would be a certain "win." Like many dot-coms, speculators provided Webvan with $375 million in funds from an IPO (Kawamoto, 1999)
When Webvan began posting losses, investors moved away from the stock as quickly and enthusiastically as they came to it. This was soon followed by layoffs, downsizing, in the eventual fall of Webvan only 18 months after it started (Zito, 2001)
According to the Reuters' entry, both of these operations are primarily administered through a wholly owned subsidiary, NVR Mortgage Finance, Inc. (NVRM), which currently competes in 11 states
Like the business model adopted by NVR, Toll also takes advantage of efficiencies in its value chain by developing its properties on land that the company has either acquired and/or developed. For the 5-year period ended October 31, 2004, Toll had completed 24,271 homes in 456 communities, including 6,627 homes from 273 communities during the fiscal year ended October 31, 2004 (Toll 2)
After Circuit City filed for bankruptcy, the only competition that resulted are companies that sell electronics but do so from an entirely different operating model. Figure 1 - Industry Players (Hermes, 2013) Stock Analysis Dividend Growth Best Buy (BBY) pays dividends quarterly and for the last five years this rate has ranged from fourteen cents in 2009 to up to seventeen cents in 2013 (Y Charts, 2014)
85; it was a fat 5.7% yield, making it a compelling stock for income investors betting on the chain's survival (Munarriz, 2014)
7% yield, making it a compelling stock for income investors betting on the chain's survival (Munarriz, 2014). Furthermore, historically, the best performing stocks over the last few decades have increased their dividends to their shareholders (Valuentum, 2012)
Given this environment, understanding how the Abu Dhabi securities exchange contributes to the nation's economic development has assumed new importance and relevance, and these issues are discussed at length further below. Statement of the Problem Like other Gulf Arab states, the United Arab Emirates has made enormous efforts in recent years in an attempt to reduce reliance on the dominant public sector and to provide private investors a bigger role in the economy (Abdou, Al Zarooni & Lewis, 2006)
2). Throughout the UAE, health care is free of charge, and the infant mortality rate is among the lowest in the world; likewise, education is also free and the UAE has one of the highest literacy rates in the developing world (Al-Alkim et al
Chapter Four: Data Analysis Determination of Efficiency of Abu Dhabi Stock Market According to Balling, Lierman and Mullinex (2004), the issue of whether causality runs from finance to economic growth or the other way around was specifically addressed in a study by Rousseau and Wachtel (2000) that used a panel of 47 countries; these researchers determined that there is support for the concept that bank-sector size and stock market efficiency cause economic growth and determined that the effect of stock market size is weak at best. Other researchers, though, have identified mixed results using a single-country time-series methodology and found bi-directional causality between bank-sector size and economic growth in each of the ten sample countries analyzed (Balling et al
From a pragmatic perspective, efficient markets appear to help stimulate economic growth, but there are a number of assumptions involved. In the case of stock exchanges, for example, common stocks are traded on well-organized exchanges like the New York Stock Exchange or in dealer markets called over-the-counter markets in a process that facilitates the rapid execution of buy and sell orders (Batten, 2000)
121). During the second phase of the economic cycle, the nation's economy continues to grow and the demand for capital increases, a process that leads to inflationary pressure and interest rates begin to rise gradually (Bolten, 2000)
As a result, regardless of the incentives for increased extraction are, the physical conditions and economics of increased extraction prohibit such increases in depletion rates, at least in the short run. Moreover, increasing production to a maximum depletion rate requires a significant amount of time (Claes, 2000)
The Emirate of Dubai has been a trading center and entrepot within the Middle East for some time (see McKee, Garner and AbuAmara McKee, 1999). The Emirate hosts a free-trade zone, Jabel Ali, 21 miles from Dubai City (Diamond and Diamond, 1998, p
, 2000). Other ongoing developmental projects are geared towards the communication industry with its emphasis on Information Technology and the so-called "New" Media; yet another group falls within the domain of traditional mixed-use real estate developments; some projects provide a setting for an emerging financial industry, and of course the ever growing hospitality/leisure industry (Elsheshtawy, 2004)
As one authority notes, "They represent an independent federation of seven emirates comprising (broadly from southwest to northeast) Abu Dhabi, Dubai, Sharjah, Ajman, Umm AlQuwain, Rus Al-Khaimah and Fujeirah. They comprise an area of 32,000 square miles in the eastern Arabian peninsula between Saudi Arabia and Oman" (Garner et al
is a nation that has come from a desert life of sheep and camels to a highly developed modern nation in only three decades. It has moved from camel caravans to modern freeways and a highly sophisticated infrastructure at a breath-taking pace" (Kerpelman et al
exports of textile, sewing machines 24th of 183] Source: United Arab Emirates, NationMaster, 2007. Notwithstanding the above, the political system in the UAE remains plagued by some actual and potential problems, including the following: The economy is extraordinarily dependent on foreigners, who make up at least 80% of the resident population, the highest percentage of any country in the world; The foreign population is highly heterogeneous; The political system is traditional and authoritarian, governed by an oligarchy of the seven ruling tribal sheikhs; Natural resources are unevenly distributed among its seven constituent emirates; Between the two wealthiest emirates, Abu Dhabi and Dubai, there are significant differences in life-style and in attitudes toward economic and social issues; The government has engaged in a public and vitriolic dispute with Iran, a vastly larger and much more powerful neighbor sitting just fifty miles away across the Persian Gulf (Rugh, 1997)