Browsing by Author "Barr, G D I"

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    Paying to play - the pricing policies of casinos
    (2003) Barr, G D I; Kantor, B S
    Wherever gambling activity is permitted it becomes a major competitor for the household budget.*(3) The growth in gambling in the US has become an important social and political issue and the subject of a National Commission, the National Gambling Impact Study Commission (NGISC 1999).*(4) The Commission indicates that more than 86 per cent of all Americans have gambled at least once and that over $50 bn. was spent (amount wagered minus prizes received) on gambling activities in the US in 1998. Lotteries accounted for 52 per cent of this in 1998, casinos 29 per cent and horse racing 7 per cent (NGICS Overview (1999): 72-75). In 1996 the gross revenues of all the organisations providing gambling or gaming opportunities in the US were estimated at $46.07 bn. or just under about 0.09 per cent of all private consumption expenditures for that year.
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    The Effect of the Rand Exchange Rate on the JSE Top40 stocks - an analysis for the Practitioner
    (2007) Barr, G D I; Kantor, B S; Holdsworth, C
    This paper investigates the relationship between the returns of the ALSI Top 40 companies and changes in the Rand Dollar exchange rate. Each of the Top 40 companies was grouped, a priori, according to their global positioning vis-à-vis income and costs into four main categories; namely, Rand-hedge, Rand-leverage, Rand-play and Mixed. The expected reaction of each of the shares within these categories to movements in the exchange rate was in almost all cases confirmed by GARCH adjusted regression analysis over two separate periods, February 1999 to January 2002 and February 2002 to August 2005. Ranked t-statistics were then used to gauge the consistency of the risk-adjusted magnitude of share price changes with respect to changes in the exchange rate. This ranking allows investors to construct customised portfolios according to their expectation of future exchange rate movements and to more fully understand the exchange rate risk that their current portfolio may have.