https://www.um.edu.mt/library/oar/handle/123456789/7584 2026-04-28T06:08:38Z https://www.um.edu.mt/library/oar/handle/123456789/8537 Title: The Euro-Dollar exchange rate Abstract: Foreign exchange is the largest market and is affected by the amount of trade undertaken by a country, investment in securities and central bank intervention. This research seeks to analyse the determinants of the Euro-Dollar exchange rate through a regression analysis based on a long run error correction model. Theory seems to hold best from 2005 onwards, that is, when the Euro-Dollar exchange rate started gaining foothold and became more widely accepted. The short run variables which have a significant impact on the Euro-Dollar exchange are: the interest rate; foreign exchange reserves; monetary growth and the fuel index. The interest rate and the foreign exchange reserves have the largest impact on the exchange rate and hence decision makers should primarily pay close attention to these variables. Monetary growth and the fuel index variables have a negative impact which is much lower than the other two variables. The fact that the fuel index has a negative relationship with the exchange rate indicates that as the USD loses value, energy prices tend to rise so as to maintain suppliers' purchasing power. In terms of the long run error correction model, the ratio of HICP to the Euro-Dollar Level is around 0.75 which is very close to 1, indicating that the exchange rate does internalise price level movements in the long run. Market agents value interest rate stability which in turn provides market confidence and encourages investors and governments to hold the single currency as a reserve leading to an appreciation of the value of the Euro against the Dollar. Structural reforms and austerity measures are necessary for those countries which have found themselves in turmoil so to avoid negative impacts on the Euro. Description: B.COM.(HONS)BANK.&FIN. 2013-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/8379 Title: The relationship between oil price shocks and stock market prices in the BRICs Abstract: The oil commodity has grown to become the largest commodity worldwide. This intrigued many researchers to analyse the effect of oil price shocks on developed economies, however little research was carried out on emerging economies. This dissertation recognises the importance of the emerging economies, in particular the BRIC economies, and as a result attempts to measure the effect that oil price shocks might have on the BRIC stock market prices. This study considers three oil commodity benchmarks, which are used to explain the effect on the BRIC economies, creating twelve candidate models. The best model for each BRIC economy was chosen to represent the effect of the oil commodity against the BRICs. Using the OLS estimation technique, the results obtained suggest that although the T-Stat is high, oil price shocks do not have a significant impact on the stock prices in the BRIC economies. Description: B.COM.(HONS)BANK.&FIN. 2013-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/8226 Title: Fulfilling the role of a compliance officer in Maltese listed financial institutions : a qualitative approach Abstract: This dissertation analyses the job of a compliance officer from his/her own point of view and how does he/she fulfils his/her duties when it comes to combating fraud in Maltese listed financial institutions. It examines the positive aspects as well as the challenges faced by compliance officers when dealing with fraud in Malta. The qualitative characteristics, an ideal compliance officer should possess as well as the behavioural implications this job leaves on their person are also depicted. This paper also delves deeper into what are the driving forces of a compliance officer while fulfilling his/her duties. The purpose of this dissertation is to analyse the importance and the present conditions of the career of a compliance officer as well as providing recommendations on how the authorities may facilitate their jobs. Description: B.COM.(HONS)BANK.&FIN. 2013-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/8123 Title: The European Monetary Union; its crisis and the prospects of non-member states : the widespread impact, lessons and transformations Abstract: The sovereign debt crisis in the Eurozone is a symptom of policy failures and deficiencies, mainly in the fiscal policy coordination but not only. Financial deregulation and over confidence enhanced systematic risks, leads to over-borrowing by the private sector on one side and poor due diligence in lending activities by the banks on the other. EMU, apart from providing too limited remedies, it took a reactive approach to eliminate or reduce the Eurozone crisis intensity, which results in wide institutional and policy weaknesses. In the first main chapter, we establish the roots of the crisis, and highlight the main policy issues, by focusing on the main inefficiencies in the governance structure of the monetary union, and the lack of change in the supervision and regulation policies before the first signals of financial crisis appeared. In the second chapter we highlight the EMU policy addressing the fail outs till present, while also providing what the EMU needs to revise in its fiscal foundation rules that complement its common monetary policy. In the third and last part of this research, we highlight the existing and new challenges for the Non-Member States that are joining the Eurozone from January 2014 onwards. We conclude by remarking on what is next in the near future for both the Eurozone and its members and briefly answer these questions: What should be done by the EMU to have the adequate mechanisms in place in order to deal with crisis like this? Second, how fast would the EMU economy recover following these shocks? Description: B.COM.(HONS)BANK.&FIN. 2013-01-01T00:00:00Z