OPPapers.com

Management

1%(5 :25.,1* 3$3(5 6(5,(6

:+$7 &$1 7+( 35,&( *$3 %(7:((1 %5$1'(' $1' 35,9$7( /$%(/ 352'8&76 7(// 86 $%287 0$5.836" 5REHUW %DUVN\ 0DUN %HUJHQ 6KDQWDQX 'XWWD 'DQLHO /HY\ :RUNLQJ 3DSHU  KWWSZZZQEHURUJSDSHUVZ 1$7,21$/ %85($8 2) (&2120,& 5(6($5&+  0DVVD.KXVHWWV $YHQXH &DPEULGJH 0$  $XJXVW 
:H DUH JUDWHIXO WR WKH SDSHU¶V GLV.XVVDQW -XOLR 5RWHPEHUJ IRU KLV LQVLJKWIXO .RPPHQWV ZKL.K SOD\HG D IXQGDPHQWDO UROH LQ WKH UHVWUX.WXULQJ DQG VWUHQJWKHQLQJ RI WKH DUJXPHQW 6XVDQWR %DVX DQG 0DWWKHZ 6KDSLUR SURYLGHG QXPHURXV YDOXDEOH VXJJHVWLRQV DQG HVVHQWLDO DGYL.H :H ZRXOG OLNH WR WKDQN DOVR 1LQJ /LX IRU KHU RXWVWDQGLQJ UHVHDU.K DVVLVWDQ.H XQGHU D YHU\ WLJKW V.KHGXOH 2ZHQ %HHOGHUV (UQLH %HUQGW +DVKHP 'H]KEDNKVK -LP +HVV .DLXZH .XKQ -LP /HYLQVRKQ 3HWHU 5RVVL DQG 6WHYH 6DODQW IRU PDQ\ KHOSIXO GLV.XVVLRQV 5REHUW )HHQVWUD IRU .RPPHQWV 6WHYH +R.K IRU SURYLGLQJ XV ZLWK KLV VXUYH\ GDWD RQ QDWLRQDO EUDQGSULYDWH ODEHO TXDOLW\ GLIIHUHQ.HV DQG -RQJ .LP IRU KLV KHOS ZLWK .RPSXWDWLRQV :H WKDQN WKH SDUWL.LSDQWV RI WKH 1%(5&5,: .RQIHUHQ.H WKH  0LGZHVW 0DUNHWLQJ &DPS DQG VHPLQDU SDUWL.LSDQWV DW WKH 8QLYHUVLW\ RI 0L.KLJDQ DQG WKH 8QLYHUVLW\ RI 0LQQHVRWD )LQDOO\ ZH WKDQN ERWK WKH 8QLYHUVLW\ RI &KL.DJR DQG 'RPLQL.N¶V IRU SURYLGLQJ XV ZLWK WKH GDWD 7KH YLHZV H[SUHVVHG KHUHLQ DUH WKRVH RI WKH DXWKRUV DQG QRW QH.HVVDULO\ WKRVH RI WKH 1DWLRQDO %XUHDX RI (.RQRPL. 5HVHDU.K ‹  E\ 5REHUW %DUVN\ 0DUN %HUJHQ 6KDQWDQX 'XWWD DQG 'DQLHO /HY\ $OO ULJKWV UHVHUYHG 6KRUW VH.WLRQV RI WH[W QRW WR H[.HHG WZR SDUDJUDSKV PD\ EH TXRWHG ZLWKRXW H[SOL.LW SHUPLVVLRQ SURYLGHG WKDW IXOO .UHGLW LQ.OXGLQJ ‹ QRWL.H LV JLYHQ WR WKH VRXU.H

:KDW &DQ WKH 3UL.H *DS EHWZHHQ %UDQGHG DQG 3ULYDWH /DEHO 3URGX.WV 7HOO 8V DERXW 0DUNXSV" 5REHUW %DUVN\ 0DUN %HUJHQ 6KDQWDQX 'XWWD DQG 'DQLHO /HY\ 1%(5 :RUNLQJ 3DSHU 1R  $XJXVW 

$%675$&7 ,Q WKLV SDSHU ZH LQYHVWLJDWH WKH VL]H RI PDUNXSV IRU QDWLRQDOO\ EUDQGHG SURGX.WV VROG LQ WKH 86 UHWDLO JUR.HU\ LQGXVWU\ 8VLQJ V.DQQHU GDWD IURP D...