July 2002
| Euromoney July 2002 In a year of falling securities markets, liquidity crises, credit blow-ups, scandals and falling business volumes, only the very best firms stand out. Euromoney commends this year's winners of the 2002 Awards for Excellence. Peter Lee, Julian Marshall, Nick Evans, Antony Currie, Jennifer Morris, Tessa Oakley. |
Euromoney July 2002
Western corporate governance scandals have prompted a flight to quality in emerging markets that are seen to be cleaning up their acts. But investors need to keep their wits about them: in some cases corporate governance may only have improved from "horrible" to "bad".
Euromoney July 2002
Corporates need bank liquidity more than ever as the capital markets can close suddenly. Bank providers sense an opportunity and loan volumes, though down, have remained healthy. But banks also need to shore up their defences or risk drowning in bad debt.
Euromoney July 2002
The growing involvement of institutional investors in leveraged loans is bringing liquidity and transparency to markets traditionally seen as clubby and opaque. As an asset class, leveraged loans have a lot going for them - despite the current dearth of supply. But there is still a lot of work to be done.
Euromoney July 2002
After Argentina, emerging-market professionals are facing up to the prospect of a default in Brazil. The effects could be so disastrous that collective action clauses in bond documentation are winning more and more favour. But broader IMF measures look necessary if such restructuring mechanisms are to work effectively.
Euromoney July 2002
Outrage over executive compensation is now widespread. Linking pay to economic valued added rather than more easily manipulated EBITDA might be an improvement.
Euromoney July 2002
There have not yet been any cross-border mergers between the leading European telecoms operators. But some of these troubled companies may have to get together to survive. They could do worse than look to Scandinavia for inspiration.
Euromoney July 2002
Falling stock markets in the past 18 months have affected the share prices of financial institutions of all sizes and from all countries. But the effects have been uneven. A comparison of the shifting market capitalizations of the world's leading financial institutions from March 2001 to March 2002 makes surprising reading.
Euromoney July 2002
Euromoney July 2002
Euromoney July 2002
Euromoney July 2002
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Euromoney July 2002
Equity derivatives
Euromoney July 2002
Fund management
Euromoney July 2002
Fund management
Euromoney July 2002
Hedge funds
Euromoney July 2002
Ratings agencies
Euromoney July 2002
Euromoney July 2002
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Kazakhstan
Euromoney July 2002
Czech Republic
Euromoney July 2002
Latvia
Euromoney July 2002
Euromoney July 2002
Managing director, Ernst & Young
Euromoney July 2002
Issuer: Malaysia Global Sukuk IncAmount: $600 millionLaunched: June 25 2002Bookrunner: HSBC