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Risk optimization using business analytics is gaining momentum in India over the last decade. In order to tap this huge opportunity, most of the startups are getting into the analytics field engaging in financial market survey to provide their customers with valid data. The objective of this study is to help “Sai Builders” in solving their portfolio investment problem as well as sinking funds problem using linear programming and to obtain the total optimum returns by satisfying all constraints. The authors solve the problem of minimizing portfolio risk measures. In addition, the expected return of the portfolio is maximized subject to the aforementioned risk measures. By using numerical experiments, they illustrate the impact of these risk measures on portfolio optimization. The analysis is done by using Excel Solver, and the optimum solution is achieved.

This study provides evidence on the relevance and reliability of option pricing-based value estimates for bonds and their components, i.e., conversion, call, put and sinking fund features. Findings reveal component value estimates represent large fractions of bond par value, and a fundamental components approach to account for corporate debt results in key financial statement amounts significantly different from those presently recognized. Component value estimates and financial statement amounts vary significantly with component estimation order. Thus, bond value estimates potentially meet the FASB's relevance criterion. However, estimate variation across component estimation orders and comparisons of estimates to available benchmarks indicate bond value estimates lack reliability.

Purpose - The purpose of this paper is to advance a set of criteria for appraising the merits of alternative options to financing common property capital expenditure in multi-owned housing (MOH) complexes and to then draw on this conceptual framework to determine which mode of common property capital expenditure funding is preferable.Design methodology approach - A priori reasoning has been provided to pursue the study's objective.Findings - Sinking funds represent the preferred approach to financing common property expenditure in MOH schemes and special levies are the least preferred approach.Research limitations implications - Due to the a priori based conceptual development undertaken, some subjectivity is bound to be invoked.Practical implications - The study provides key insights to government policy makers charged with drafting MOH legislation and provides strong support for those jurisdictions that require sinking funds to be raised in MOH complexes. The study also informs the owners executive committees of MOH schemes of the benefits of maintaining sinking funds.Social Implications - The study highlights the considerable MOH unit owner financial distress that can be averted by pursuing a policy of raising sinking funds.Originality value - The study has immense originality, as it is the first academic study to focus on MOH common property capital expenditure issues.

Purpose - The paper aims to examine how to create a sinking fund, the legalities of its creation and ownership, taxation issues and the accounting treatment of tenant contributions towards sinking funds within service charges demands in the UK office sector.Design methodology approach - The paper reviews the prescriptive guidance that the 2007 RICS Code of Practice makes in terms of the creation and operation of such funds, and concludes within an empirical investigation of industry practice on sinking funds from 2004-2008.Findings - The paper reports whether the Code has improved practice, disclosure, communication and transparency in terms of such funds and speculates on how a future Code might further improve on existing management.Originality value - The data are original, and findings conclusively prove the need for enforcement of the existing Code, and necessary revisions as well.

This study presents the history of Nigeria's indebtedness before and some twelve years after independence. The study shows that the foundations of the country's debt burden which became a major issue in the crises of budget management from the 1990s up to 2006 was actually laid in the colonial period of between 1914 and 1960. The study analyses the trends in the growth and development of the debt profile and the burden that it brought upon the fiscal balance of the country. The study concludes by showing that more than any other reasons, deficit financing of the budget was the cause of the deficit but that the post colonial government of Nigeria up to 1972 was less careful in this regard than its colonial predecessors.

Underlying the widely used multiple-investment-sinking fund (MISF) method for lease evaluation is the determination of a derived lease rate which is a specific rate that provides the lessor with the required yield on equity. To compute this derived lease rate, trial-and-error techniques are traditionally used. In addition to being based on trial-and-error, the employment of these techniques requires a specification of the precise time structure of the various types of cash flows involved, and this can be somewhat technically cumbersome. To overcome these shortcomings, this study presents a mathematical derivation of a formal expression for the derived lease rate. Due to the widespread use of the MISF method, it seems that the formal expression developed here can be very useful for decision makers (at both the corporate as well as the individual-investor levels) in determining the derived lease rate in practice. Another desirable property of the model is that it can be easily employed for the purpose of studying the effects of changes in the various parameters involved on the derived lease rate.

Purpose - The RICS code of practice \"Service Charges in Commercial Property\" was introduced in 2007 with the intention to promote best practice guidelines in the provision and management of commercial service charges. The paper seeks to review the compliance of the code after two years from its inception.Design methodology approach - The research employs comprehensive literature reviews and documental analysis through a number of publications retrieved from electronic databases, reports, journals, books, and other relevant secondary information. A critical review of the materials gathered is carried out in understanding the key recommendations as set within the RICS code against the current practice.Findings - Huge gaps are identified between the RICS against existing practice involving several key headings such as transparency, value for money, communication, and responsiveness.Research limitations implications - Since the code was only introduced in 2006, limited sources of data available prevents comprehensive results, underlining further discussions on the effectiveness of the code in resolving the critical commercial service charges aspects within the real estate industry.Practical implications - While the paper intends to raise awareness among the commercial properties stakeholders, recommendations that are made in the paper can be utilised to minimise the gap that exists between the guidelines and the actual implementation by harnessing concerted efforts among the stakeholders in commercial property industry.Originality value - This paper provides an in-depth snapshot of the RICS code of practice to commercial service charges and the progress that has been made towards the application of the guidelines since it was introduced in 2006.

This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. It uses quantile regression techniques to allow the estimated factors driving reserves holdings to vary along the reserves' holding distribution and tests for equality among the slope coefficients of the various quantile regressions and the overall models. F-tests comparing the inter-quantile differences could not reject the null that the models for the different quantiles of SIs reserve distribution were similar but this was rejected for EMs distribution suggesting that models explaining drivers of reserve holdings should take into account the country's reserve holdings. Empirical analysis suggests that the metric performs better than existing metrics in reducing crisis probabilities in SIs.

Purpose - The paper aims to examine how to create a sinking fund, the legalities of its creation and ownership, taxation issues and the accounting treatment of tenant contributions towards sinking funds within service charges demands in the UK office sector. Design/methodology/approach - The paper reviews the prescriptive guidance that the 2007 RICS Code of Practice makes in terms of the creation and operation of such funds, and concludes within an empirical investigation of industry practice on sinking funds from 2004-2008. Findings - The paper reports whether the Code has improved practice, disclosure, communication and transparency in terms of such funds and speculates on how a future Code might further improve on existing management. Originality/value - The data are original, and findings conclusively prove the need for enforcement of the existing Code, and necessary revisions as well. [PUBLICATION ABSTRACT]