Accounting For Financial Instruments: Difficulties With Fair Value Measurement And Reporting, 2014 University of New Hampshire
Accounting For Financial Instruments: Difficulties With Fair Value Measurement And Reporting, Lindsey T. Byrne
No abstract provided.
When Is A Dog’S Tail Not A Leg?: A Property-Based Methodology For Distinguishing Sales Of Receivables From Security Interests That Secure An Obligation, 2014 University of Pennsylvania Law School
When Is A Dog’S Tail Not A Leg?: A Property-Based Methodology For Distinguishing Sales Of Receivables From Security Interests That Secure An Obligation, Steven L. Harris, Charles W. Mooney Jr.
There are two principal ways in which a firm that is owed money payable in the future but needs the money now may use its rights to payment (“receivables”) to obtain the needed financing. It might sell its receivables, or it might borrow and use the receivables as collateral to secure the loan. Different legal consequences follow depending on whether the transaction is a true sale or is a security interest that secures an obligation (a “SISO”).
These legal consequences are particularly salient when the firm enters bankruptcy. If the transaction is a sale, then the buyer can collect the ...
Do Market Anomalies Add Up?, 2014 East Tennessee State University
Do Market Anomalies Add Up?, Larissa C. Steinfeldt
Undergraduate Honors Theses
This is a study about abnormal characteristics in the stock market and how to successfully use them in personal portfolios. Market anomalies are unexpected excess returns that occur in relation to certain variables. Five commonly known market anomalies (market cap, price-earnings ratio, price-book value, momentum, volatility) are tested to give evidence for their presence. Existing variables are then combined in different portfolios in order to observe whether they generate greater excess returns combined rather than individually. This study will also reveal whether long-term holding is possible and how the anomalies react in bullish and bearish markets.
Betkita.Net, 2014 SelectedWorks
Betkita.Net, Yus Rizal Panjaitan Rizal
yus rizal panjaitan rizal
Betkita berkomitmen untuk memberikan pelayanan eksklusif kepada seluruh peminat betting online di Indonesia. Betkita menyediakan beraneka ragam jenis permainan taruhan bola, casino online, tangkas, dan juga togel online seperti SBOBET, IBCBET, SBOBET Casino, A9388, Bola Tangkas 2, sampai dengan Isin4D.
Portfolio Analysis Of Hedge Funds, 2014 Georgia State University
Portfolio Analysis Of Hedge Funds, Corey Davis, Brian Burch
Georgia State Undergraduate Research Conference
No abstract provided.
The Effects Of Risk Based Capital Requirement On Credit Allocations In The Us, 2014 Georgia State University
The Effects Of Risk Based Capital Requirement On Credit Allocations In The Us, Dita Aisyah
Georgia State Undergraduate Research Conference
No abstract provided.
Dollar Shortage, Central Bank Actions, And The Cross Currency Basis, 2014 SelectedWorks
Dollar Shortage, Central Bank Actions, And The Cross Currency Basis, Jean-Marc Bottazzi, Jaime Luque, Mario Pascoa, Suresh Sundaresan
Cross-currency basis, which captures the deviations from covered interest rate parity, reflects the relative value of the scarcer currency (US dollars) as collateral in the funding constraints faced by European banks. The October 15 2008 announcement by the ECB that all bids for US dollars by European banks would be fully allotted represented an autonomous increase in the supply of US dollars. Treating this announcement as an exogenous event, we show that the basis significantly narrowed after the ECB announcement. We also show that the shortage during 2010-2012 is primarily driven by ECB's penalty rates as opposed to quantity ...
Single Point Of Entry And The Bankruptcy Alternative, 2014 University of Pennsylvania Law School
Single Point Of Entry And The Bankruptcy Alternative, David A. Skeel Jr.
This Essay, which will appear in Across the Great Divide: New Perspectives on the Financial Crisis, a Brookings Institution and Hoover Institution book, begins with a brief overview of concerns raised by the Lehman Brothers bankruptcy about the adequacy of our existing architecture for resolving the financial distress of systemically important financial institutions. The principal takeaway of the first section is that Title II as enacted left most of these issues unanswered. By contrast, the FDIC’s new single point of entry strategy, which is introduced in the second section, can be seen as addressing nearly all of them. The ...
Regional Infrastructure Department Implementation Plan: Prepared For The Towns Of Wenham And Hamilton, Massachusetts And The Hamilton-Wenham Regional School District, 2014 University of Massachusetts Boston
Regional Infrastructure Department Implementation Plan: Prepared For The Towns Of Wenham And Hamilton, Massachusetts And The Hamilton-Wenham Regional School District, Edward J. Collins, Jr. Center For Public Management, University Of Massachusetts Boston
Edward J. Collins Center for Public Management Publications
The purpose of this Organizational Assessment is to: a) quantify the resources needed to establish a new regional public works department; b) assess whether those resources are available or could be made available; c) prepare a recommendation of those functions to be merged; and d) make recommendations on an organizational structure and governance process.
Moral Hazard And Arson: Evidence From Decreases In Local House Prices, 2014 SelectedWorks
Moral Hazard And Arson: Evidence From Decreases In Local House Prices, Michael D. Eriksen, James M. Carson
Michael D Eriksen
We assembled data on the determined cause of 5.9 million fires in the United States between 1980 and 2010 to test whether decreases in local housing market prices coincide with increases in arson. Since moral hazard may lead some insured homeowners to disguise the actual cause as accidental, we also examine how decreases in local house prices are associated with the probability of determined causes of accidental fires. We find evidence that declines in local house prices coincided with increases in the per capita rate of fires and the probability of fires determined due to arson or accidental due ...
Facilitating Successful Failures, 2014 University of Maryland Francis King Carey School of Law
Facilitating Successful Failures, Michelle M. Harner, Jamie Marincic Griffin
Approximately 80,000 businesses fail each year in the United States. This article presents an original empirical study of over 400 business restructuring professionals focused on a critical, arguably contributing factor to these failures—the conduct of boards of directors and management. Anecdotal evidence suggests that management of distressed companies often bury their heads in the sand until it is too late to remedy the companies’ problems, a phenomenon commonly called “ostrich syndrome.” The data confirm this behavior, show a prevalent use of loss framing, and suggest trends consistent with prospect theory. The article draws on these data and behavioral ...
Consolidating Student Loans, With A Review Of Student Loans In General, 2014 SelectedWorks
Consolidating Student Loans, With A Review Of Student Loans In General, Richard H. Serlin
Richard H. Serlin
This is a very complete, state of the art article on student loans, and smart student loan strategy for regular people. Thus, honestly, I think it's something very rare. A good way to quickly understand well this important subject.
New Models Of Private Sector Financing Of Not-For-Profit Corporations, 2014 Northeastern University
New Models Of Private Sector Financing Of Not-For-Profit Corporations, Steven H. Mosenson
Law and Policy Doctoral Theses
States have taken several approaches to facilitate private sector investment in nonprofit corporations providing social services. These approaches include (a) fostering the creation of socially conscious, for-profit business entities that can fulfill a social purpose or invest resources in joint ventures with nonprofit corporations; (b) promoting private capital financing vehicles, such as social impact bonds, which incorporate incentives for enhanced return based upon the funded social program's attainment of specified measurable goals, and ( c) promoting public-private partnerships and joint ventures between private sector entity partners and nonprofit corporations to provide capital for investment in the nonprofit corporation's infrastructure ...
Ethics And Market Economic System: A General Review And A Survey, 2014 Walden University
Ethics And Market Economic System: A General Review And A Survey, Reza G. Hamzaee
International Journal of Applied Management and Technology
Recent global recession has motivated this predominantly historical and exploratory research of thoughts and perceptions. A continuous planning of governmental correction of any market failure, such as various types of externalities and information asymmetry, has been strongly recommended by the pioneers of free enterprise systems. Capitalism—in which private ownership of means of production, physical capital, human capital, financial capital, brand-name capital, social capital, land, and mineral deposits are all protected by law without implementation of a series of certain evolving ethical standards and principles—may not continue to be the same efficient system as implied to be by the ...
Local Business Cycles And Local Liquidity, 2014 Singapore Management University
Local Business Cycles And Local Liquidity, Gennaro Bernile, George Korniotis, Alok Kumar, Qin Wang
Research Collection Lee Kong Chian School Of Business
This paper shows that the geographical location of a firm affects its liquidity. Specifically, firm liquidity is higher (lower) when the local economy performs well (poorly) and this effect is more pronounced among larger firms. Further, the impact of local economic conditions on local firm liquidity is stronger when local financing constraints are more binding, the local information environment is more opaque, and local institutional ownership levels are higher. This geographical variation in local liquidity generates predictable patterns in local stock returns. Local stock prices decline and future returns are higher when local liquidity is lower. A trading strategy based ...
Why Not Use Robots To Stabilize Stock Markets?, 2014 SelectedWorks
Why Not Use Robots To Stabilize Stock Markets?, Sergio Da Silva
Sergio Da Silva
Why not set up some public-service robot traders to counteract the behavior of traders when it snowballs into extreme moves? I show a blueprint of how this can be accomplished taking advantage of the theory of complex systems.
Do Loan Loss Reserves Behave Like Capital? Evidence From Recent Bank Failures, 2014 Singapore Management University
Do Loan Loss Reserves Behave Like Capital? Evidence From Recent Bank Failures, Jeffrey Tee Yong Ng, Sugata Roychowdhury
Research Collection School Of Accountancy
Regulatory capital guidelines allow for loan loss reserves to be added back as capital. The evidence in this paper suggests that the influence of loan loss reserves added back as regulatory capital (hereafter referred to as “add-backs”) on bank risk cannot be explained by either economic principles underlying the notion of capital, or accounting principles underlying the recording of reserves. Specifically, we observe that in sharp contrast to the economic notion of capital as a buffer against bank failure risk, add-backs are positively associated with the risk of bank failure during the recent economic crisis. Further the positive association of ...
Easing Up On Quantitative Easing, 2014 Singapore Management University
Easing Up On Quantitative Easing, Singapore Management University
The U.S. Federal Reserve has pumped trillions of dollars into the economy. Is it finally going to stop the flow of cheap money?
Be Smart: Focus On Processes And Diversify, 2014 Singapore Management University
Be Smart: Focus On Processes And Diversify, Singapore Management University
Hedge fund managers have plenty to think about today as China transitions to a consumption-driven economy, bank financing dries up, and Washington lurches along a rocky road.
Taxing Audit Markets And Reputation: An Examination Of The U.S. Tax Shelter Controversy, 2014 University of Montana
Taxing Audit Markets And Reputation: An Examination Of The U.S. Tax Shelter Controversy, John Incardona, Yezen Kannan, Ronald Premuroso, Julia L. Higgs, Ivy Huang
Accounting and Finance Faculty Publications
From 2002 to 2007, the nation’s largest CPA firms faced allegations of illegal activity related to the sale of tax shelters: EY, KPMG and PwC paid fines; KPMG was investigated by a federal grand jury; and EY faced a criminal inquiry. These shelter events occurred shortly after the 2002 collapse of Arthur Andersen, when policy makers were concerned about audit market concentration. This is the first paper to provide a chronological summary of how the tax shelter controversy started and ended. We investigate the stock market reaction to tax shelter news developments between 2003 and 2005 to make inferences ...