Asset

* Transnationality Index (TNI): 3 ratios = foreign assets/foreign sales = foreign sales/total sales = foreign employment to total employment * Internationalization Index (II): comprises the number of foreign affiliates/total number of wholly or majority-owned affiliates. indicates physical spread of assets compared to the source of value created by the network

finalement, les investissements de court terme sont plus importants en 2007. 3000000 2500000 2000000 1500000 1000000 500000 0 2007 2008 2009 Cash and Cash Equivalents Short term Investments Net Receivables Inventory Other Current Assets Intangible Assets Other Assets Figure 23 - Evolution de l'actif 2.2 Analyse du passif Tout d’abord, on constate que les dettes de court terme sont extrèmement faibles, voire presque inexistante en 2007 alors qu’elle sont plus significatives en 2008 et en 2009

doubts concerning the principle of the securitization because mortgage loans concern specifically the American real estate. → Transmission by Investment Funds * The Investment funds bought the securitized claims. * But the value of their assets fell→→so they were in trouble. → Indirect commitments of banks * The Risks confided to markets were taken back by banks. * In the end of July, 2007, the financial community became aware of credit risks supported by the banking system.

optimal portofolio, Journal of Economic Theory, Vol. 8, 235-247 Black F. (1972), Capital market equilibrium with restricted borrowing, Journal of business, Vol 45, 444-455. Cass D. et J.E. Stiglitz (1970), The structure of investor preferences and asset returns, and separability in portofolio analysis: A contribution to the pure theory of mutual funds, Journal of Economic Theory, Vol. 2, 122-160 Chateauneuf A. et M. Cohen (1994), Risk-seeking with diminishing marginal utility in a nonexped utility

First half, second half, etc. or first half 2007, second half 2007, etc. First quarter, second quarter, etc. or first quarter 2007, second quarter 2007, etc. 2007 estimate, 2008 estimate, etc. American depositary receipt Assets under management = total value of own and third-party assets managed Billion Basis point or basis points (100 bps = 1 percentage point) Book value per share = shareholders' equity divided by the number of shares Compound annual growth rate Cantonal income per capita (Switzerland

investments are accounted for on the basis of the direct equity |համատեղ վերահսկվող կազմակերպությունում ձեռնարկողի կողմից ներկայացվող ֆինանսական հաշվետվություններն են, որոնցում| |interest rather than on the basis of the reported results and net assets of the investees. |ներդրումները հաշվառվում են սեփական կապիտալում ուղղակի մասնակցության (բաժնեմասի), այլ ոչ թե ներդրման օբյեկտի | |

business including a superannuation and investment business. * AMP Capital Investors which manages investments across all the major asset classes including equities, fixed interest, infrastructure, property, diversified funds and multi-manager funds and also provides commercial, industrial and retail property management services. AMPCI also acquires assets to seed new funds or opportunities In 2009, AMP Limited net profit was A$ 739 million which was primarily generated by Australian Contemporary

Fonctionnement, ressources Financement Le financement de la logistique humanitaire contient plusieurs sources différentes. Source : Rapport d’activité 2011 du CICR, repéré sur : https://www.icrc.org/fre/assets/files/annual-report/current/icrc-annual-reportfinancial-overview-fre.pdf Les gouvernements forment une ressource financière importante, ils débloquent des fonds important en cas de catastrophes naturelles. Les entreprises privées représentent une petite partie du financement, mais

- Un modèle économique unique fondé sur l’accélération de la mise en œuvre de la stratégie d’« Asset Right » engagée depuis 2005. Cette stratégie consiste à adapter les modes de détention des hôtels en fonction du segment de marché et du pays d’implantation. Elle permet, notamment, de bénéficier de la complémentarité des atouts respectifs de chaque modèle. L'objectif du programme d’« Asset Management » est en effet de favoriser les modes de détention peu capitalistiques, en grande partie sur

capitalization, the two key drivers of wealth creation, were weaker than in 2006, world growth was strong in 2007 and drove solid increases in both HNWI populations and overall wealth. Our 2007 findings reveal that HNWIs assumed a more defensive approach to asset allocation in response to marked changes in economic environments. Steering away from some alternative investments, HNWIs favored safer options on more familiar grounds. As investor confidence rebounds, our expectation is that HNWIs will gravitate