The US joins the emerging markets
Article Abstract:
The booming US stock market is booming and seeing its valuations soar to new record highs. The market continues to grow contrary to expectations, with the Dow Jones hitting the 7,000 level in Feb. 1997. This phenomenal bull run can be attributed to the prolonged period of interest rates, the improvement in the GDP's profit share and the large number of emerging industries in the US. With the growth of these 'knowledge-intensive' industries, which include computer technologies, healthcare, media, marketing and education services, the US has come to be regarded as one of the world's most vibrant emerging markets. However, there are signs that the UK market could catch up and even outperform the American market in the coming years. Reasons for this optimism include the UK's improving underlying productivity, current account position and risk profile.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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There' no place like home
Article Abstract:
British investors are turning their attention to emerging markets. These investors focused on G7 countries in the 1980s but are shifting to the developing nations in Asia, Eastern Europe and Latin America. Asia has gotten 60% of the overall foreign direct investment in recent years while Latin America has received about 30%. One reason for this attraction to emerging markets is their desire to add value by taking advantage of their competence which they can integrate to foreign location services to better their efficiency in servicing markets. Another reason is their need to protect their existing market shares through cost reduction and innovation. However, analysis shows that diversification by geography is less desirable than by industry. British investors should therefore restructure their portfolio structure in favor of domestic UK equities.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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Now is the time to expose capital instruments
Article Abstract:
The Accounting Standards Board's (ASB) discussion draft proposes an accounting treatment of a wide range of existing and future capital instruments. The proposed accounting method may yield certain benefits, but some of the ASB's guidelines run counter to the Company Act's requirements while others plan to disallow treatments acceptable under the Act. Some of the issues that need to be considered further in relation to the Company Act are the classification of borrowings, the classification of shares, and the recognition of finance costs in the p&l account. The ASB's discussion paper also fails to consider the important issues of derivatives and instruments in foreign currencies.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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