Segal Graduate School of Business Final Projects

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A Model for the Development Of Entrepreneurship on First Nation Indian Reserves

Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2014-04
Abstract: 

Community well being for First Nations on Indian Reserves is significantly lower than the rest of Canada. Contributing factors are the lack of businesses, the distrust in capitalism from colonialism and the effort to assimilate First Nations, and a perceived belief that there is not a fit between entrepreneurship and First Nations culture. These factors and a lack of goods and service providers on Indian reserve lands have resulted in a loss of business to communities off Indian reserve lands. Entrepreneurship can create employment opportunities and can reduce leakage. In order to improve conditions on Indian reserve lands for entrepreneurship research has shown that stability of governance and institutions, and culture and traditions is important. This paper develops a model that will give First Nations direction for the steps that can be taken within the legal landscape of Canada to improve the conditions on Indian reserve lands for entrepreneurship.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Bryan Gallagher
Department: 
Beedie School of Business - Segal Graduate School

QUANTITATIVE FUNDAMENTALS VALUE INVESTING AND SYSTEMATIC FACTOR INSULATION INNOVATIONS

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2015-04
Abstract: 

Passive indexation through the use of Exchange Traded Funds (ETF) is a highly popular strategy world-wide which helps investment managers diversify their risk profiles and long the market for certain segments of their portfolio while maintaining little tracking error. We want to introduce the advantages of rules based investing which can be implemented and packaged as ETFs and provide managers with returns that are easier to explain, such as indexation, but offer greater return upside and control associated risks. Alternative investment strategies are often overlooked and we will show the advantages of rules based strategies in this paper.

By combining Piotroski’s fundamental indicators defining ‘Quality’ and using screeners/rankers of relative valuation, we intend to define a strategy that provides excess return while maintaining similar risk. In addition, we aim to lower volatility through risk management techniques, which will insulate the strategy from systematic factors by shorting a calculated percentage of the market.

Through this exercise we show the significant advantages to investing in alternative and ‘smart beta’ strategies compared to indexation in our sample period of 2002 to 2014.

Document type: 
Graduating extended essay / Research project

SEMI-PARAMETRIC VOLATILITY SURFACE ESTIMATION

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2015-04
Abstract: 

In this paper, we have investigated the performance of a semi-parametric model of volatility surfaces by applying it to the prices of exchange-traded options on crude oil futures in a highly volatile environment. We have also reviewed the performance of a parametric and a nonparametric model in such market conditions.

 

To confirm our findings, we have provided some performance metrics as well as further analysis on the dynamics of the underlying futures. Basedon our work, we have shown that the above models do not perform well in highly volatile conditions.<p>The overall contribution of this paper is to determine whether local volatility models in general are applicable to options on crude oil futures in a highly volatile market or we should move towards stochastic volatility approaches.

Document type: 
Graduating extended essay / Research project

Teck Trail Operations Long-Term Business Strategies

Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

Trail Operations has survived for over 100 years through continuous efficiency improvements and process innovations. However, in 2008, Trail Operations lost some competitive advantage when one third of the power generating capability from its Waneta Dam was sold to BC Hydro. Trail Operations will be facing a further challenge in about six years time when the stockpile of its other substantial profit generator, the Zinc Residues, is depleted. To counter the combined effects of these financial predicaments in the long-term, several strategies have been considered. The strategy that provided the highest degree of confidence involves the installation of another Slag Fuming Furnace in tandem with a Settling Furnace. This project will open doors for Trail Operations to become “greener” through the enhanced recycling of electronic scraps/wastes and other recyclable materials. This new furnace will also provide steam for conversion into “clean” power as part of the proposed Biomass Power Generation project.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Lindsay Meredith
Department: 
Beedie School of Business-Segal Graduate School

Improved Management of Major Shutdowns at Trail Operations

Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

The KIVCET and the zinc roaster plants at Trail perform major maintenance shutdowns to ensure safe and reliable production. These events are very resource intensive and have a significant impact on production. Previous shutdowns have resulted in significant safety, hygiene, and environmental difficulties. Effective management of these events is important to the success of Trail Operations. In this paper, I analyze existing practices to identify some of the major problems that impede performance. I then provide a number of recommendations to improve shutdown management at Trail based on recognized best practice. This paper concludes with an implementation plan that is performed by shutdown practitioners and plant management, working under the guidance of a senior level steering committee.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Ian P. McCarthy
Department: 
Beedie School of Business-Segal Graduate School

Mining Urban Ore: A Strategy for E-Waste and E-Scrap Processing at Teck Resources' Trail Operations

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

Teck’s Trail Operations is facing a critical decision regarding the construction of facilities for entering the electronic scrap processing industry. This action will affect the longtermprofitability of Trail Operations.This paper evaluates the existing and future market for the generation and recovery of electronic waste. It also describes the electronics recycling chain from generation to the endprocessing of all waste streams. The paper reviews global trends in legislation to assess the potential impact on the electronic waste recycling industry.Using Porter’s Five Forces methodology, an industry analysis reveals prospective opportunities and threats that could affect Teck’s entry into the industry. An internal assessment of Trail Operations’ strengths and weaknesses enables the identification of the firm’s competitiveadvantage in the industry. The paper concludes with recommendations to guide Teck in the establishment of a competitive strategy for Trail Operations in the electronic scrap processing industry.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Mark Selman
Department: 
Beedie School of Business-Segal Graduate School

Real Options Analysis of Mining Projects

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

When long life assets are being evaluated based on constant predictions of future variables and the assumptions of zero management flexibility, is value being missed? In project evaluation today, the most common evaluation methods that calculate a net present value are discounted cash flow (DCF) analysis, decision tree analysis and Monte Carlo simulation. A fourth method, which is beginning to gain ground in terms of its use in the mining industry, is real option analysis (ROA). ROA utilizes a stochastic process and expected asset volatility to more sophisticatedly allocate investment risk at the source, as opposed to the aggregate period cash flows as in more traditional models. The purpose of this paper will be to review the evaluation models currently used in the mining industry and to understand their differences, going in-depth into the use of ROA to understand its advantages and limitations. A mining project is evaluated using the applications of DCF analysis and ROA for the purpose of comparing the results of the more traditional valuation method and one which values uncertainty in a more advanced manner. The paper concludes with the advantages that ROA can provide to management decision making and outlines when the use of ROA is most beneficial.

Document type: 
Graduating extended essay / Research project
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File(s): 
Senior supervisor: 
Scott Powell
Department: 
Beedie School of Business-Segal Graduate School

Triple Bottom Line Thinking for High Arsenic Bearing Copper-Gold Project in Northern Peru: Assessing the Viability of an Integrated Mine, Mill, and Hydrometallurgical Refinery

Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

Growth in global urbanization, industrialization and infrastructure expansions will require the development of non-traditional copper resources such as those containing high arsenic to meet the demand for future mine supply. Arsenic levels are rising in current and future mines in resource rich countries such as Peru. Conventional smelting operations cannot accept concentrates high in arsenic (>0.5%) due to process limitations and tightening environmental restrictions. Alternative refining technologies are required to process high arsenic bearing concentrates. Teck Resource Limited‘s CESL developed pressure hydrometallurgical technology is capable of treating high arsenic bearing sulphide concentrates. Recognizing the broader cornerstones of sustainable development, Triple Bottom Line (TBL) thinking provides a holistic way of understanding a projects‘ performance with respect to potential financial, social and environmental outcomes. This paper applies a simple TBL framework to assess the viability of an integrated mine, mill, and CESL hydrometallurgical refinery operation for a hypothetical high arsenic bearing copper-gold deposit located in Northern Peru.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Mark Selman
Department: 
Beedie School of Business-Segal Graduate School

Teck Coal in the Chinese Steel Making Industry: Where Should We Fit?

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

This paper will discuss China’s emergence on the seaborne metallurgical coal market as a major importer of hard coking coal.  It will discuss how Teck Coal as the second largest supplier in the seaborne market should participate in this rapidly growing market. 

China’s growth has fuelled demand for commodities around the world and as such, it is important for any commodity supplier to have an understanding and presence in this market.  Teck Coal only began selling noticeable volumes of coal to China in 2009 and continues to learn how the market behaves and who the key players are in this market.  Teck Coal’s strengths and weaknesses are discussed and are in turn used to identify potential opportunities for the company to explore.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Lindsay Meredith
Department: 
Beedie School of Business-Segal Graduate School

Abilities Management - A New Age Solution for an Age Old Problem: What to do with the Injured Worker

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Date created: 
2011
Abstract: 

Teck Highland Valley Copper Partnership has an established, successful and practical working model for disability management.

This project reviews current practices at Teck Highland Valley Partnership and defines a strategy for a corporate initiative of “Abilities Management” at Teck.

The age demographic of Teck Resources is at a critical level.  An effective “Abilities Management” program will help to mitigate the effect of the aging workforce.  Further, it will increase employee morale, better utilize the injured or ill workforce to the monetary benefit of the company, and lower costs of third party payments by the Workers’ Compensation Board and weekly indemnity carriers.

The “Abilities Management” program herein described will compliment Teck’s Courageous Safety Leadership Program and will become a necessary component to Teck’s Corporate Social Responsibilities concerning sustainability and environmental awareness moving forward.

Document type: 
Graduating extended essay / Research project
File(s): 
Senior supervisor: 
Dr. Mark Selman
Department: 
Beedie School of Business-Segal Graduate School