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Mutual Fund Stewardship And The Empty Voting Problem, Jill E. Fisch 2021 University of Pennsylvania Carey Law School

Mutual Fund Stewardship And The Empty Voting Problem, Jill E. Fisch

Faculty Scholarship at Penn Law

When Roberta Karmel wrote the articles that are the subject of this symposium, she was skeptical of both the potential value of shareholder voting and the emerging involvement of institutional investors in corporate governance. In the ensuring years, both the increased role and engagement of institutional investors and the heightened importance of shareholder voting offer new reasons to take Professor Karmel’s concerns seriously. Institutional investors have taken on a broader range of issues ranging from diversity and political spending to climate change and human capital management, and their ability to influence corporate policy on these issues has become more ...


A Bayesian Approach To Assessing The Risk Premium On Catastrophe Bond Derivatives At Issuance, Dickson K. Nkwantabisa 2021 Sacred Heart University

A Bayesian Approach To Assessing The Risk Premium On Catastrophe Bond Derivatives At Issuance, Dickson K. Nkwantabisa

Doctoral Dissertations (DBA)

Catastrophe (CAT) bond pricing is a challenging task due to the uncertainty inherent in the incomplete market setting in which they operate as such various pricing approaches have been proposed. In this paper, we offer an alternative Bayesian methodology which is a natural approach in the context of uncertainty. Our Bayesian model is highly flexible and can be implemented under different model assumptions without losing generalization. We develop an entire Bayesian framework to model the two fundamental sources of risks in CAT bond pricing – catastrophe and interest rate risks. Using a Hierarchical Dirichlet Process model (Teh et al., 2006), we ...


The Cost Of Big Data: Evaluating The Effects Of The European Union’S General Data Protection Regulation, Kara Rebecca White 2021 University of Tennessee, Knoxville

The Cost Of Big Data: Evaluating The Effects Of The European Union’S General Data Protection Regulation, Kara Rebecca White

EURēCA: Exhibition of Undergraduate Research and Creative Achievement

In the 1990’s the World Wide Web was created, drastically changing the way we do business, communicate, and live our lives. Ten years later in the early 2000’s the dot com boom happened, and several years later, new technology giants emerged—like Amazon, Google, and Facebook. From this, we now face “big data” that promises to solve world problems, but has the potential to create turmoil and malfeasance. My research examines the impact of the General Data Protection Regulation (GDPR) enacted in the EU in 2016 on firm value using Tobin’s Q and CARs. Using regression analyses ...


Corporate Social Responsibility And Financial Performance: Does Board Diversity Matter?, Ozgur Ozdemir, Murat Kizildag, Tarik Dogru, Ilhan Demirer 2021 University of Nevada, Las Vegas

Corporate Social Responsibility And Financial Performance: Does Board Diversity Matter?, Ozgur Ozdemir, Murat Kizildag, Tarik Dogru, Ilhan Demirer

Journal of Global Business Insights

In this study, the moderating effect of board diversity on the complex relationship between corporate social responsibility (CSR) performance and financial performance is examined. The resource-based view of the firm and stakeholder theory are used as the theoretical foundation of the study. The hypotheses of the study are tested via fixed-effects regression using data for a sample of 1,234 firms and 5,102 firm-year observations for the period 2009–2013. The study finds evidence that CSR performance and financial performance are positively related, and the magnitude of this relationship is contingent on the level of board diversity. As corporate ...


A Unique Case Study On Ppp Termination By The Concessionaire - Png Tollway, Raja Sekhar Mamillapalli, P Hanumatha Raao 2021 NICMAR - HYDERABAD

A Unique Case Study On Ppp Termination By The Concessionaire - Png Tollway, Raja Sekhar Mamillapalli, P Hanumatha Raao

Journal of Emerging Technologies and Business Management

PNG Tollways, a special purpose vehicle of L&T Infrastructure Development Project Ltd, Ashoka Buildcon and SBI Macquarie, has served a project termination notice on the Maharashtra government due to operational problem caused by locals and politicians. Further, it is dissatisfied with the compensation offered by the State for the losses incurred by the developer due to non-collection of toll at the Nashik plaza. The failure of the projects raised many concerns about the fate of future road projects based on toll collections. It also expressed its unwillingness take back the termination notice, said sources. The developer has sought the ...


Bonds Duration And Covid-19: A Study On United Kingdom Conventional Gilts, Riffat Abdul Latif Mughal 2021 Shaheed Zulfikar Ali Bhutto Institute of Science and Technology Karachi

Bonds Duration And Covid-19: A Study On United Kingdom Conventional Gilts, Riffat Abdul Latif Mughal

Business Review

This article studies whether the government bonds portfolio developed based on bonds duration produces abnormal returns in London Stock Exchange fixed income market during the phase of double-dip recession and COVID-19. The sample consists of UK conventional gilts traded from February 2004 till February 2021. The daily data is obtained from Thomson Reuters / Refinitiv Eikon. For this study, the data is divided into two subsamples July 2009-December 2018 and December 2019-February 2021. The findings reveal that all the bonds produced abnormal returns during the complete sample and sub-sample period when returns of UK gilts 1 year maturity are kept as ...


A Financial Analysis Of Five Different Firms, Shane Sazzman 2021 University of Nebraska at Omaha

A Financial Analysis Of Five Different Firms, Shane Sazzman

Theses/Capstones/Creative Projects

There are several ways to analyze a business. Looking at a company’s risk position. Measuring a businesses profitability, liquidity, stock prices, bankruptcy, and leverage. Overall, using historical and current data to predict future success. This report conducts a business analysis by looking at the impact of the coronavirus for five different companies in five different industries that are in five different countries. It has looked at financial results during the periods of pre-coronavirus, throughout, and after. Through this, a financial analysis was created to look at the long-term impacts and results of the coronavirus for these five conglomerates. The ...


Culture And Enforcement Effects On Insider Trading, Market Reactions, And Firm Value: Evidence From The Market Abuse Regulation, Amanda M. Olsen 2021 University of Tennessee, Knoxville

Culture And Enforcement Effects On Insider Trading, Market Reactions, And Firm Value: Evidence From The Market Abuse Regulation, Amanda M. Olsen

Doctoral Dissertations

This dissertation examines the changes to the European Union (EU) law on market abuse, market manipulation, and insider trading regulation made when the Market Abuse Regulation (MAR) was enacted. I detail the changes in comparison to the previous legislation under the Market Abuse Directive (MAD) and changes several Member States made to their domestic legislation to achieve compliance with MAR. I highlight the sanctions imposed in several Member States to argue the severity of punishment under MAR. This analysis provides evidence that MAR brought about a plausibly exogenous shock to the cost of insider trading. Next, I examine the effects ...


Cfo Compensation And Public Company Audit Fees: A Study Of Relationships And Influence On Audit Pricing, Charles T. Fagan 2021 Sacred Heart University

Cfo Compensation And Public Company Audit Fees: A Study Of Relationships And Influence On Audit Pricing, Charles T. Fagan

Doctoral Dissertations (DBA)

From the Introduction:

In corporate America, most executives have multiple forms of compensation ranging from a base salary, which is fixed, to annual and multi-year bonuses, which are normally tied to some performance based metrics; to longer-term incentives such as stock options, stock grants, restricted stock units (RSUs) and other forms of equity-based compensation. Aside from a base salary within normal ranges, all other forms of compensation are normally meant to incentify an executives’ behavior to work in the best interest of the company and its shareholders. At least, that is the theory on incentive-based compensation.

It is quite common ...


Analysis Of Key Factors That Impact Large Cap Us Firms’ Financial And Market Performance At Different Phases During The 2007- 8 Financial Crisis, Ken Lobo 2021 Sacred Heart University

Analysis Of Key Factors That Impact Large Cap Us Firms’ Financial And Market Performance At Different Phases During The 2007- 8 Financial Crisis, Ken Lobo

Doctoral Dissertations (DBA)

The financial crisis of 2007-8 provides an opportunity to investigate which factors have a significant impact on firms at different stages of the crisis. This paper considers this shock event along these lines: impact of leverage on a firm can vary depending on timing of the crisis; firm are challenged to invest as the crisis recedes; revenue growth can enhance and sometimes impede returns; choosing to hold cash or not when a firm make the trade-off with investment and both the timing and decision are important; investors, managers and shareholders perceive these actions and events differently. Large cap US firms ...


Comparative Measurement Of Working Capital Efficiency For Borsa Istanbul Restaurants And Hotels For The Covid-19 Period And Previous Quarters, Fatih Gunay, Gary Cokins 2021 University of Agri Ibrahim Cecen

Comparative Measurement Of Working Capital Efficiency For Borsa Istanbul Restaurants And Hotels For The Covid-19 Period And Previous Quarters, Fatih Gunay, Gary Cokins

University of South Florida M3 Center Publishing

The working capital of a company is the current assets that should be converted into cash within a year. To meet the goal of value maximization and to survive in a competitive business environment, managing day-to-day operating activities effectively is important. As one of the important outcomes of Covid-19, international tourist numbers decreased dramatically in 2020 and still remain at a low level. Accordingly, countries’ tourism income and tourism companies’ sales revenues have decreased linearly. This paper is aimed at measuring and comparing the working capital efficiency of companies that are operating in tourism and listed in the Borsa İstanbul ...


Relationship Between Business Confidence Index And Non-Financial Firms Foreign Exchange Assets And Liabilities: Evidence From Ardl Bound Approach, Ilkut E. Kandil-Goker 2021 Kirikkale University

Relationship Between Business Confidence Index And Non-Financial Firms Foreign Exchange Assets And Liabilities: Evidence From Ardl Bound Approach, Ilkut E. Kandil-Goker

University of South Florida M3 Center Publishing

The effects of confidence indices on macroeconomic factors and stock returns are widespread in the literature. This study, unlike previous studies, examines the effect of the confidence index on foreign exchange positions of non-financial firms. Are the non-financial firms’ managers considering the business confidence index when they manage their foreign exchange position? According to the findings, while there is no significant relationship between non-financial firms' foreign currency assets and business confidence index; there is a significant relationship between the foreign currency liabilities and the business confidence index in both the long-run and the short-run. Although the coefficient is low, as ...


The Impact Of Rtgs On Internal Control - A Comparative Study Between Some Iraqi Banks, Salowan H. Al Taee, Noor A. Rahdi 2021 University of Mustansiriyah

The Impact Of Rtgs On Internal Control - A Comparative Study Between Some Iraqi Banks, Salowan H. Al Taee, Noor A. Rahdi

University of South Florida M3 Center Publishing

The research aims to examine the impact of the Real time Gross settlement (RTGS) As an example of Electronic Payment Systems (EPS) in some Iraqi banks registered in the Iraq market for the securities and banks selected in the research sample (Iraqi Central bank, commercial Gulf Bank, United Bank for Investment of Iraq, Agricultural cooperative Bank) and researchers designed the resolution designed to achieve the objectives of research and test its hypothesis to gain access to the extent to which banks apply Sample search for internal controls of general procedures, application, security procedures and protection of proposed applications based on ...


A Nexus Between Mergers & Acquisitions And Financial Performance Of Firms: A Study Of Industrial Sector Of Pakistan, Fiza Quareshi, Mukhtiar Ali, Salar Hussain 2021 University of Sindh Jamshoro

A Nexus Between Mergers & Acquisitions And Financial Performance Of Firms: A Study Of Industrial Sector Of Pakistan, Fiza Quareshi, Mukhtiar Ali, Salar Hussain

University of South Florida M3 Center Publishing

Mergers and Acquisitions (M&As) have gained considerable interest in the last few decades and the purpose behind these events is to increase revenues, gain market share, achieve competitive edge and aimed to diversify the risk. This study aims to investigate the role of mergers and acquisitions on the financial performance of firms in the industrial sector of Pakistan. Financial Performance is measured on the basis of the stock market performance of the firms, which has been measured using the event study methodology as this is one of the recognized techniques in the conditions of M&As. Stock market performance ...


Advances In Global Services And Retail Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte 2021 University of South Florida

Advances In Global Services And Retail Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte

University of South Florida M3 Center Publishing

This is the second volume of the Advances in Global Services and Retail Management Book Series. This volume has the following parts:

  • Part 1: Hospitality and Tourism
  • Part 2: Marketing, E-marketing, and Consumer Behavior
  • Part 3: Management
  • Part 4: Human Resources Management
  • Part 5: Retail Management
  • Part 6: Economics
  • Part 7: Accounting and Finance
  • Part 8: Sustainability and Environmental Issues
  • Part 9: Information Technology

ISBN: 978-1-955833-03-5

Hospitality and Tourism


Proceedings Of The Global Conference On Services Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte 2021 University of South Florida

Proceedings Of The Global Conference On Services Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte

University of South Florida M3 Center Publishing

This is the second volume of the Global Conference on Services Management Proceedings Series.

ISSN: 2641-5062


The Impact Of Working Capital On Cash Management Under Ias 7 Framework: An Examination Of Tourism Listed Companies In Indonesia And Turkey, Tri Damayanti, Tuba D. Baskan 2021 University of Bandar Lampung

The Impact Of Working Capital On Cash Management Under Ias 7 Framework: An Examination Of Tourism Listed Companies In Indonesia And Turkey, Tri Damayanti, Tuba D. Baskan

University of South Florida M3 Center Publishing

The objective of this study is to find the impact of capital on cash management in tourism industries. We employ three models for measuring cash management. Working capital structure is measured by working capital turnover ratio. In order to get more understand of our analysis, we hired control variables such firm performance, firm size and country specific. We applied panel analysis of 93 financial reports of Indonesian and 27 Turkish tourism listed companies. We apply three models of cash management which could not be find in another prior research. The output shows that each model found that our hypotheses is ...


Corporate Ethical Training: An Answer To White-Collar Crimes, Richard Pitre, Claudius Claiborne 2021 Texas Southern University

Corporate Ethical Training: An Answer To White-Collar Crimes, Richard Pitre, Claudius Claiborne

The Journal of Values-Based Leadership

The modern business corporation is a culturally significant component of American Society. It is facing a cultural invasion of the highest order. The categorical imperative, an unconditional principle that rational individuals must follow despite natural desires or inclinations to do otherwise, is today being called into question. This is most likely the result of grounding moral values upon information that is transient and unstable rather than upon established data. The social contract, which governs the formation and maintenance of individual morals, is a requirement in organizations that demands collective agency – employees acting together to set forth moral rules of behavior ...


Assessment Of Financial Performance Indicators Of Sustainable Development In Russian Organizations Using Fuzzy Sets Theory, Vasili Nesvetailov, Tarik Hdeib 2021 University of Economics, Moscow, Russia

Assessment Of Financial Performance Indicators Of Sustainable Development In Russian Organizations Using Fuzzy Sets Theory, Vasili Nesvetailov, Tarik Hdeib

Jerash for Research and Studies Journal مجلة جرش للبحوث والدراسات

In practice, the analysis of sustainable development level of organizations can be carried out using different approaches. At the moment, there are more than twenty methods of numerical integrated assessment of the financial conditions of the organizations that can be indicated to the level of sustainable development. At the same time, such models are developed for economic conditions that are significantly different from those prevailing in Russia. Therefore, Russian organizations are faced with the task of choosing the optimal approach for evaluating sustainable development levels that are suitable with its economic conditions. One of these approaches is the assessment of ...


Ownership Concentration Dynamic Trade Off Theory And Debt Funding Of Business Start-Up, Hedia Fourati 2021 University of Sfax, Tunisia

Ownership Concentration Dynamic Trade Off Theory And Debt Funding Of Business Start-Up, Hedia Fourati

The Journal of Entrepreneurial Finance

This paper examines the dynamics of financial in presence of ownership concentration of newly created firms. Our objective is to test the empirical role of the trade-off theory to explain the financial behaviour of business start-up. We use a sample of 114 business start-ups and we use the panel data estimation over the period 2006-2010. Our results show that start-up firms adjust slowly to target ratio for first years of operation. Ownership dispersion accelerates adjustment to debt funding. Asset tangibility remains the main determinants of debts funding for business start-up.


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