Digital Commons Network^™

The Value Of Refining Buy-Up Alternatives For Portfolio Decision Analysis, Jeffrey Keisler

College of Management Working Papers and Reports

Portfolio project selection and in particular portfolio decision analysis (DA) approaches at their most basic rely on a simple economic notion – rank investments in order of value gained per dollar spent and fund them in this order until the budget is spent. But the quality of the recommendations generated by such an approach is only as good as the quality of the assumptions about projects that are used. In this paper we consider how much effort is worth expending to improve definition of alternatives at the project level.

Who Knew: Financial Crises And Investor Sentiment, Arindam Bandopadhyaya, Derek Truong

Financial Services Forum Publications

It has been argued and empirically documented that with a looming financial crisis, the risk-reward trade-off of market participant changes, resulting in a decrease in market sentiment. Traders flock towards less risky securities which drives the returns of such securities higher. In this paper, based on a methodology developed by Persaud [1996], by correlating the riskiness and returns of securities in various international equity markets, an index to measure the sentiment of market participants is constructed. We use the breaking point of the Lehman Brothers bankruptcy as the onset of the financial crisis in 2008.

We track the market sentiment …

Working Alone: Protecting And Building Solidarity In The Workplace Of The Future, Charley Richardson

Labor Resource Center Publications

This paper explores the foundations of solidarity in the workplace and the challenges to building solidarity in the modern day workplace. The author identifies eight workplace trends that are increasing individual isolation and destroying workplace-based social networks. After comparing two models of social networks, the author suggests specific steps workers and unions can take to protect solidarity at work.

Misi At A Glimpse: January 1 To December 31, 2010, College Of Management, University Of Massachusetts Boston

Financial Services Forum Publications

According to the Index, investors were generally cautious in 2010 (approximately half the trading days); however, investor sentiment ranged from highly risk-averse to highly risk seeking, with scores distributed almost evenly across all the categories. Investor sentiment had peaked in February, reached a low in the end of May. It was on an upward trajectory towards the end of the year, and was almost near its February high.

Analysis Of The Administration Of Human Resources: Prepared For The Ipswich Town-School Coordination Committee, Edward J. Collins, Jr. Center For Public Management, University Of Massachusetts Boston

Edward J. Collins Center for Public Management Publications

The Town of Ipswich, acting for its Town-School Coordination Committee, contracted with the Edward J. Collins, Jr. Center for Public Management at the University of Massachusetts Boston to undertake a review of the Human Resources (HR) management, Recreation Department programming, and the Information Technology needs of the Town and School Department. The review was undertaken to assess how collaborative approaches might enhance the effectiveness of each of these municipal functions. The Collins Center has published a report on each of these topics. The overall Project Manager was Senior Associate Richard Kobayashi. The HR report was prepared by Collins Center Associate …

How Risk Management Can Turn Into Competitive Advantage, Ehsan Elahi

College of Management Working Papers and Reports

In light of the occurrence of many disruptive events since the beginning of this millennium, we can observe a change in the way risks and uncertainties are being viewed in the business world. To put this change into perspective we compare the evolution in the companies’ perception of risk management with the evolution in how companies look at their supply chain management. The main driver behind the change in the way companies view risk management is the increased level of uncertainties. There are many evidences that suggest the current very high level of volatilities in the business world is going …

Using Critical & Creative Thinking To Enhance Productivity In Integrated Marketing Communications Meetings And Procedures, Ashley N. Smith

Critical and Creative Thinking Capstones Collection

This paper provides a teaching model for how to effectively incorporate Critical and Creative Thinking (CCT) methods into a business setting to initiate organizational change. I developed a workshop on workplace meetings based on the imperfections of the marketing team at “ICS.” The workshop touches on CCT methods that are needed in order for organizations to change. I also integrated CCT methods into the Integrated Marketing Communications (IMC) Procedure to enhance productivity and produce results. Integrated marketing is made up of many pieces of the media field, but often the participants in IMC are searching for the same end result. …

New Bedford/Fairhaven Municipal Harbor Plan, Fort Point Associates, Inc., Apex Companies, Llc, Urban Harbors Institute, University Of Massachusetts Boston, Fxm Associates

Urban Harbors Institute Publications

The historic harbor lying between the City of New Bedford and Town of Fairhaven has shaped the identities and economies of these two municipalities for centuries. Today, the Harbor is one of nation’s preeminent fishing ports, ranked #1 nationally in 2007 in dollar value ($268 million) of fish landings with an estimated total economic regional impact of nearly $1 billion. The New Bedford’s seafood processing industry has grown in size and sophistication in recent years and is an internationally established center for this industry. Marine service and vessel repair industries, centered in Fairhaven, have an excellent reputation with commercial fleets …

Mass Business Report, College Of Management, University Of Massachusetts Boston

Financial Services Forum Publications

Welcome to the College of Management, UMass Boston, Financial Services Forum’s Spring 2010 report on the Massachusetts economy. The spotlight of this report is the Finance, Insurance and Real Estate (FIRE) sector in Massachusetts.

The Contested Politics Of Corporate Governance: The Case Of The Global Reporting Initiative, David Levy, Halina Szejnwald Brown, Martin De Jong

Management and Marketing Faculty Publication Series

The Global Reporting Initiative (GRI) has successfully become institutionalized as the preeminent global framework for voluntary corporate environmental and social reporting. Its success can be attributed to the “institutional entrepreneurs” who analyzed the reporting field and deployed discursive, material, and organizational strategies to change it. GRI has, however, fallen short of the aspirations of its founders to use disclosure to empower nongovernmental organizations (NGOs). The authors argue that its trajectory reflects the power relations between members of the field, their strategic choices and compromises, their ability to mobilize alliances and resources, and constraints imposed by the broader institutions of financial …

Film And Television Production In Massachusetts: Industry Overview And Analysis, Pacey C. Foster, David G. Terkla, Robert Laubacher

College of Management Working Papers and Reports

This report describes the structure and recent growth of the film and television industry in Massachusetts. We begin with a discussion of national trends in this industry and find that Massachusetts is one of the fastest growing locations for film and television production in the United States. We then discuss recent employment trends in this sector and find that there has been significant recent growth in the total number of local film and television production jobs, particularly among the unionized crew and actors that staff local productions. Examination of federal data reveals that between 2005 and 2008 there has been …

The Utility Of Trouble: Leveling The Playing Field: Giving Municipal Officials The Tools To Moderate Health Insurance Costs, Robert L. Carey

Edward J. Collins Center for Public Management Publications

According to the research, Boston could have reduced its 2010 health premiums by between 15.6 and 17.1 percent, for a savings of between $41.4 and $45.4 million by joining the state’s Group Insurance Commission, more widely known as the GIC. The City is unable to join the GIC, however, without first receiving 70% union approval, according to state law. This requirement and the associated tradeoffs involved are a major barrier to municipal participation in the GIC. Several cities and towns including Boston have called for cities and towns to have the same ability as the state to design health insurance …

Managing Exchange Rates, Arindam Bandopadhyaya, Giorgio Gotti, Qian Lu

Financial Services Forum Publications

The collapse of the fixed exchange rate system established under the Bretton Woods Agreement ushered in fluctuating exchange rate regimes. Although extreme volatility is managed by monetary authorities, fluctuations in exchange rates present unique challenges to the manager of a multinational corporation (MNC). This chapter reviews various types of exchange rate regimes and discusses the types of risk an MNC faces due to exchange rate fluctuations. Special attention is paid to how these risks are measured and ways in which they are hedged using available financial market instruments. The chapter also discusses exchange rate forecasting models that are frequently used.

Innovation Options And Organizational Capabilities, Jeffrey Keisler, Paul Y. Mang

College of Management Working Papers and Reports

Organizational capabilities, whether in product development, efficient production, or market access, provide firms with opportunities to achieve and maintain strategic advantages over competitors. Recently, many researchers have argued that certain organizational capabilities add to a firm’s value in the form of its yet-to-be realized opportunities for profitable investments. But do such capabilities help all firms and under all conditions? The objective of this paper is to develop a model that helps us better understand the factors that influence the value of future growth opportunities for the firm and the organizational capabilities required to realize those opportunities.

The Impact Of Macroeconomic Uncertainty On Firms Changes In Financial Leverage, Atreya Chakraborty

Accounting and Finance Faculty Publication Series

We investigate the relationship between a firm’s measures of corporate gov- ernance, macroeconomic uncertainty and changes in leverage. Recent research highlights the role of governance in financing decisions. Previous research also indicates that macroeconomic uncertainty affects a firm’s ability to borrow. In this paper we investigate how both these channels of influence affects firms’ financing decisions. Our findings show that macroeconomic uncertainty has an important role to play, both by itself and in interaction with a measure of corporate governance.

Antitakeover Amendments And Managerial Entrenchment: New Evidence From Investment Policy And Ceo Compensation, Atreya Chakraborty, Shahbaz Sheikh

Atreya Chakraborty

We explore the relation between antitakeover amendments and firm investment in long-term assets. Empirical results indicate that an increase in the G-index of Gompers et al. (2003) is associated with less investment in R&D and reduced capital expenditures. These results suggest that protection from takeover threat increases managerial entrenchment and results in underinvestment. We also find that this increased entrenchment is associated with higher total and cash compensation and fewer performance incentives for managers, suggesting that protected managers influence their own pay. These results are robust to a number of robustness checks and remain significant after controlling for industry effects. …

Changing Patterns Xvi: Mortgage Lending To Traditionally Underseved Borrowers & Neighborhoods In Boston, Greater Boston And Massachusetts, 2008, Jim Campen

Gastón Institute Publications

This is the sixteenth in the annual series of Changing Patterns reports prepared for the Massachusetts Community & Banking Council (MCBC) by the present author. The series is aptly named: mortgage lending since 1990 has indeed been characterized by “changing patterns.” In recent years, the major focus of the series shifted from concern for fair access to credit for traditionally underserved borrowers and neighborhoods to concern for access to fair credit for these same borrowers and neighborhoods. This reflects the extent to which the problem of redlining had become overshadowed by the problem of reverse redlining, whereby areas that …