Main Partners Risk

Risk is gelieerd aan deEconomische en BedrijfskundigeFaculteitsvereniging

Financiële Studievereniging Groningen

Costa Rica & Panama

IFP May 2012

What’s in it for you?

Research possibilities

Promising countries

International Financial Program

2 Risk International Financial Program 2012

About the International Financial Program

The International Financial Program (IFP) is an initiative of the financial study association Risk.

The IFP is a research trip for financially interested students of the Faculty of Economics and

Business (FEB) of the University of Groningen. It is a multidimensional project in which stu-

dents will enhance themselves professionally by conducting research for (Dutch) companies.

The program has been established in 2006 and has proven to be a great experience for students

and a great success for companies. Previous destinations include Argentina, Malaysia, Brazil and

Mexico. This year, we will visit two promising and beautiful countries, Costa Rica & Panama.

Costa Rica & Panama, carefully considered countries

Costa Rica

Costa Rica is a country positioned in Central America. It is renowned for its efforts in eco-

tourism and traditional agricultural exports like bananas, coffee, sugar and beef. Re-

cently, a variety of high-tech industrial and specialized agricultural products are con-

tributing substantially to the economic wealth of the country. Examples of promising

sectors include: advanced manufacturing, services and medical devices sector. Although the traditio-

nal products are falling in percentages of overall export, in terms of revenue they continue to grow.

Costa Rica welcomes foreign investment and boasts a favorable investment climate, which is demon-

strated by several factors:

• The Netherlands is Costa Rica’s second largest trading partner;

• The GDP amounting 40,3 Billion Dollars in 2011, has an estimated growth rate of 4,4% in 2012

and will presumably keep growing in the upcoming years;

• The inflation rate in 2011 amounts 5,6% and the prospect is that the inflation rate will continue to

decline to 4% in 2016;

• Exemption from import duties on raw materials, capital goods, parts and components;

• Unrestricted profit repatriation;

• Tax exemption on profits for eight years and 50% exemption for the following years.

3Risk International Financial Program 2012

Panama

Panama has positioned itself as an economic hub in Central America, in which the Panama Canal is

the main economic prosperity provider. The Panamanian economy is mainly service driven, and is re-

nowned for its efforts in the banking, insurance and maritime sector. Thereby, the country offers pos-

sibilities in several markets. Examples of promising sectors include: maritime, distribution, nutrient,

tourism and energy sector. For the ambitious country, Rotterdam and Singapore are lead examples in

terms of the maritime sector. The prospect of the overall economic outlook for the country is positive.

Panama welcomes foreign investment and boasts a favorable investment climate, which is demonstra-

ted by several factors

• Panama is recognized by the Dutch government as an economic important area in the world. This

is shown by the fact that irrespective the government cuts the number of embassies around the

world, the Dutch ministry of Foreign Affairs is planning to open an embassy in Panama by the

end of 2011.

• The GDP amounting 29,8 Billion Dollars in 2011, has an estimated growth rate of 7,2% in 2012

and will presumably keep growing in the upcoming years;

• The infl ation rate in 2011 amounts 5% and the prospect is that the infl ation rate will continue to

decline to 2,5% in 2016;

• There are tax agreements between The Netherlands and Panama;

• There are lots of Free Trading Agreements (FTA’s) between The Netherlands and Panama;

• Panama boasts the second largest free trade zone in the world.

Furthermore, in Central America, there are massive amounts of raw materi-

als present. One can understand why we chose these two countries as our destination.

Risk International Financial Program 2012 International Financial Program 2012

4 Risk International Financial Program 2012

Research possibilities

The students participating in the program are students that have affi nity in the fi eld of fi nance and

accounting. Areas for research are numerous and largely depend on the needs and wishes expres-

sed by the company. In the initial phase participants will come up with suggestions for research

or work out ideas proposed by the company. Examples of subjects examined in previous years are:

microcredit, market research, risk analysis, investment analysis and the conducting of audits.

Some examples of partnerships from previous editions and the corresponding topics are:

• Deloitte: How is Corporate Social Responsibility a factor during the client acceptation process

within Deloitte? (Argentina)

• Sara Lee: The effectiveness of the Sara Lee’s global standards for suppliers. (Malaysia)

• KPMG: The quality of sustainability reports in Brazil, Does KPMG Malaysia need a sustainability

department? (Malaysia)

• Dutch Ministry of Economic Affairs: The effects of the worldwide fi nancial crisis on the Brazilian

macro economy and the forecasts in the medium run; Brazilian Offshore Oil & Gas Market and

Related Maritime Infrastructure. (Brazil)

• Rabobank foundation: Researching the magnitude of microfi nance in Mexico and the role the

Rabobank Foundation can possibly perform there in the agricultural sector. (Mexico)

• SOMO: Investigating the Corporate Social Responsibility of multinational suppliers. (Mexico)

5Risk International Financial Program 2012

What’s in it for you as a company

The International Financial Program selects 21 adequate students who have made substan-

tial progress in their studies. These motivated students form the basis of the research project.

Two academic professors will guide the students throughout the entire process to ensure aca-

demic standards and function as cornerstone to assure high quality research. The program pro-

vides the company an unique opportunity to work together with selected students, have many

contact moments with them and to obtain a high quality research that broadens the horizon

of the organization. All these benefi cial aspects of the research will be obtained only at cost.

The added value for participating students is clearly evident: an unforgettable trip to amazing countries,

the opportunity to apply academic skills in practice, the privilege to interact with real businesses and all

of that together with a group of highly motivated peers. Students will associate your company with an

amazing experience.

Participating students

The participants are students of the Faculty of Economics and Business, all subjec-

ted to strict selection criteria. As mentioned earlier, they must have made substanti-

al progress in their studies to be eligible for this program. They are in the fi nal phase of

their Bachelor, or are Master students. All students follow a fi nancially oriented study:

• Bachelor (Bsc): Business Economics, Business Administration, Economics,

Econometrics, International Business and Management or Accountancy & Controlling.

• Master (Msc): Finance, Economics, Econometrics, Organizational Management

& Control, International Financial Management or Accountancy & Controlling.

6 Risk International Financial Program 2012

What we can offer you

Some examples of standard packages that we can offer you are listed below. They are meant to il-

lustrate some of the multiple options we can arrange. Consequently, a package tailored to the in-

dividual needs of your company can easily be composed. If desired, one of our account mana-

gers will be delighted to elaborate about the possibilities. Please do not hesistate to contact our

account managers Matthijs de Boer ( +31 (0)6 42250929 ) and Niels Vermuë ( +31 (0)6 21710231 ).

Main partner Research partner

Visiting partner

Inhouseday at your company in the Netherlands 21 selected students ★ Access to student C.V.'s* ★ Company visit in Costa Rica or Panama Guided tour through the company (morning or afternoon) ★

Access to student C.V.'s* ★ Research Academic guidance by the University of Groningen ★ ★ 4 students, +/- 750 research hours** ★ ★ Exposure Advertising Logo in Risk Magazine*** ★ ★ ★ Article in Risk Magazine***(Interview with employee) ★

Business profile in book of abstract ★ ★

Advertisement in book of abstract ★ ★

Logo in book of abstract ★ ★ ★ IFP website Logo company ★ ★ ★ Traineeship/Internship announcement ★ ★

Businessprofile ★ ★ Promotional videoclip ★ ★ * Personal contact information excluded. If desired, you can contact the Risk IFP board about personal contact information. The individual(s) will subsequently be asked for permission to disclose the information. ** 200 preparation hours; 400 research hours on location; 150 hours of elaboration afterwards. *** Print run: 1200 copies. Risk publishes 5 magazines a year.

7Risk International Financial Program 2012

Program outline

The following is a short outline of the program. The participants are recruited in an early sta-

ge and are committed for the period of eight months prior to the research. From the start of the

research until the delivery, there will be close cooperation (i.e. much contact moments) with

your company, so that the research will meet the needs of your business as best as possible.

May 2011: Start

The comprehensive preparations for the trip are set in motion since May of this year by

the IFP board. All of the fundamental aspects of the trip are being carefully prepared.

September 2011: Involvement participating students

The selected participants will get actively involved in the project from now on.

They will be divided into four committees, and will also be taught on pragma-

tic topics such as how to successfully conduct research and the Spanish language.

January 2012: Fulfilling the preliminary research

The actual research preparation begins. For the duration of 4 contiguous

months, the students will now be highly intensive engaged in the research.

27 April 2012: Actual departure to Costa Rica & Panama

The next three weeks will be marked by conducting research (for instan-

ce: visiting companies, gathering information, taking interviews et cetera).

2 June 2012: Return of the students in the Netherlands

July 2012: Presentation

The final version of the research will be presented by the students to the relevant company.

Main Partners Risk

Risk is gelieerd aan deEconomische en BedrijfskundigeFaculteitsvereniging

Financiële Studievereniging Groningen

International Financial Program

The International Financial Program Board 2012

F.l.t.r. : Niels Vermuë (Account manager), Emiel van Duuren (Treasurer), Sanne Dijkstra (PR & logistics), Matthijs de Boer (Account manager), Jeroen Jurgens (Chairman)

Tel: +31 (0)50-363 73 06

E-mail: ifp@verenigingrisk.nl

Website: www.riskifp.nl

Financial Study Association Risk Landleven 55414.0040P.O. Box 8009700 AV Groningen, The Netherlands