the_future_of_tobacco_stocks-_a_scenario_analysis_-_final_.pdf
(6.28 MB, PDF)
… Investors Chair) and Director of the European Centre for Corporate Engagement (ECCE) at Maastricht University, and Executive Director of the International Centre for Pension Management (ICPM) in Toronto, Canada. His team of research assistants comprises students from the Maastricht University Honours Programme in the second and third years of their bachelor studies: Fabian Grohmann (BSc in International Business, 2nd year), Fabian Süßmann (BSc in International Business, 3rd year), Filip … Wire, 2018). ECONOMIC ENVIRONMENT Even though 181 parties have signed the WHO’s Framework Convention on Tobacco Control (FCTC, 2017), and even though an increasing number of institutional investors including the Axa Group (2016) and BNP Paribas (Pionline, 2018) have announced plans to divest tobacco from their funds, the tobacco industry will continue to achieve strong results. According to Business Wire (2018), a Berkshire Hathaway The Future of Tobacco Stocks: A Scenario Analysis 22 22 company, the earnings per share of Philip Morris International are forecasted to range between 8% and 11% in 2018, excluding a favourable currency effect. In general, tobacco firms …