Digital Commons Network^™

Critique Of Microcredit As A Development Model, Grace Levin

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

The field of microcredit (otherwise known as microfinance, microlending, or microcapital) has expanded rapidly since the 1980s as an economic means of lifting people out of poverty. Generally, microcredit has been accepted as an effective method for empowering both individuals and communities. In recent years, however, critics have brought to light some of the problems associated with microlending, such as the complex socioeconomic factors that can cause loan programs to fail. These problems stem from the basic tenet of microfinance: the need for lending programs to be managed locally in order to understand the needs of a community and assess …

Financial Services Innovation: Local Strategy, Management, And Change – A Field Investigation, Ann-Catherine Nave

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

This study examines the innovation sources and processes of regional financial services firms through inductive field research. Innovation in these firms, and presumably other financial services firms and other smaller organizations, originate primarily out of three sources, the drive for efficiency, the external environment, and strategic, ambidextrous management. Successfully innovative firms balance the short-term need for efficiency improvements with the long-term desire to grow primarily through visionary, yet adaptive, leadership.

Impact Of Psychological Factors On Investment Decision Making Mediating By Risk Perception: A Conceptual Study, Lubna Riaz, Ahmed Imran Hunjra, Rauf I. Azam

Ahmed Imran Hunjra (PhD)

Every individual is different from others due to various factors which include demographic factors, age, race and sex, education level, social and economic background; same is the situation with the investors. The most critical challenge faced by them is the investment decision; they act in a rational manner and usually follow their instincts and emotional biases while making investment decisions. The investigation of previous studies reveals the importance of various psychological factors which affect their investment decision. Keeping this in view, a study model has been developed to describe the impact of risk propensity, asymmetric information and problem framing on …

Using Pairs Of Criteria To Obtain Superior Stock Portfolio Performance, Abdullah Aai Yousuf

Explorations – The Journal of Undergraduate Research, Scholarship and Creativity at Wright State

This paper discusses the use of pair of financial criteria to obtain the superior stock portfolio performance. Several Portfolios are created with different number of securities over different time horizons, using pair of financial criteria and Price momentum strategy. Our results give support for the use of pairs of criteria in selecting and managing equity portfolio. The synergy effect of combining a financial ratio with the price momentum obtains both statistical and economical superior performance results; especially the pair of Earnings to Price ratio along with Price Momentum strategy with smaller of number of securities in short run.

Liquidity In The 144a Debt Market, Karen Ann Craig

Doctoral Dissertations

This dissertation presents my research analyzing the liquidity component of corporate bond spreads for bonds issued privately under Rule 144A during the period 2003 – 2011. Rule 144A bonds are limited to trading among qualified institutional investors and therefore are inherently less liquid than registered corporate bonds. I assess an amendment to Rule 144 modifying the restrictions on public resale of Rule 144A bonds intended to increase the liquidity of 144A bonds and decrease the cost of capital to firms issuing these securities. This amendment provides an ideal exogenous shock to evaluate 144A bonds. Assessing the liquidity premiums and yield …

December 2012, Inland Empire Business Journal

Inland Empire Business Journal

News and Features

The End of Marketing As We Know It A number of

studies are showing that people no longer pay much

attention to traditional marketing as they progress

through the “buyer’s decision journey” says Bill Lee. . . 7

E-Commerce Business Stand to Lose More

Without Asset Protection Find out what

differentiates commerce businesses from traditional

businesses when it comes to asset protection. . . . . . . . . 9

Duct Tape My Software and Hope for the Best? A

redesign of a website is simply a repackaging. There

can be only a handful of reasons …

November 2012, Inland Empire Business Journal

Inland Empire Business Journal

Oops, My Bad: Five Ways Your Business Can

Improve by Admitting to Mistakes According to

Michael Houlihan, owner of Barefoot Cellars,

mistakes are a fact of life. No matter how much you

try, you can’t completely avoid making them. It

improves your company’s effectiveness and

reputation if you handle them well. . . . . . . . . . . . . . . . 5

Market Trends That Will Affect Your Bottom Line

Global trends are like a river. Sometimes they are

powerful, sometimes they are weak and sometimes

they’re so mellow your business can glide along them …

Factors Affecting Investment Decision Making Of Equity Fund Managers, Salman Ali Qureshi, Kashif Ur Rehman, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Traditional theories of finance assume that investors use all available information and make rational investment decision but in reality the scenario is different. Based upon the growing importance of behavioral finance the present study is an attempt to investigate the effect of behavioral factors such as heuristics, risk aversion, use of financial tools and firm level corporate governance on the decision making of equity fund managers of Pakistan. The study collected response from 327 equity fund managers of insurance companies, commercial banks, and equity investment companies applying stratified random sampling technique. The results of the study demonstrate that a positive …

My Favorite Professor: Professor Ben Blau Connects Finance To Real World News Of The Day, Usu Jon M. Huntsman School Of Business, Boone Bowles

Jon M. Huntsman School of Business News Collection

Dr. Ben Blau, a professor of finance, has a unique philosophy when it comes to teaching, a philosophy that he explains to his students before every difficult assignment or impossible midterm exam. He believes that professors who make students think that they are thinking are loved, while professors who actually make students think are hated. “My goal,” Dr. Blau quips, “is to become your least favorite professor.”

September 2012, Inland Empire Business Journal

Inland Empire Business Journal

Inside Job: Why Dealing with “Difficult” Colleagues Will Lead to Happier Customers Read advice on how you can use difficult situations to start building an uplifting service culture in your organization. . . . . . . . . . . . 9

“It’s Not MY Fault!” Seven Ways Leaders Can Unearth (and Neutralize) the Fear That Lurks Behind the Blame Game Mike Staver explains that fear-based leadership lurks at the heart of the blame game. Read his advice on how you can take responsibility and help your followers to do the same. . . . . . . . …

The Impact Of Corruption On Firm Tax Compliance In Transition Economies: Whom Do You Trust?, Anna Alon, Amy M. Hageman

Faculty Publications

Tax compliance is an important issue for governments and the public alike. To meet public needs and fund public mandates, firms around the world are expected to comply with tax laws. Factors that are related to organizational (firm) tax compliance have not been sufficiently examined in the literature. Due to the increasing global influence of transition economies, factors associated with firm tax compliance in transition economies are particularly of interest. Based on a sample of over 5,000 firms from 22 former Soviet Bloc transition economies, we find that higher levels of corruption and higher levels of particularized trust (reliance on …

August 2012, Inland Empire Business Journal

Inland Empire Business Journal

When Your Website Powers Your Business Why would you invest your hard-earned dollars to hire anyone less than a pro when designing your online business? After spending months developing your product, do yourself a favor and hire the right web developer—it will be well worth the investment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Need Work? Tech Companies Are Hiring Companies are hiring and will be hiring those students who have the educational capability of business with a …

July 2012, Inland Empire Business Journal

Inland Empire Business Journal

8 “Be-Attitudes” of Holding People Accountable The key to leadership is to create an environment whereby people do the best they can because they want to do it. Bob Whipple examines eight attitudes or behaviors of leaders that can foster a culture where holding people accountable is a precursor to a feeling of celebration. . . . . . 9

The Prison Industry Major phone companies profit from the prison industry. “Reach Out and Touch Someone” has a whole new meaning. . . . . . . . . . . . . . . . . . . . …

Factoring As A Financing Option In Turkey : A Comparative Study, Hasmet Sarigul

Hasmet Sarigul

Factoring is a form of short-term commercial finance based on the selling of trade debts at a discount from one party to another. Factoring is one of the oldest methods of business financing in developed countries. The Factoring operations in Turkey began in late 1980s as a product of commercial banks and started to become the activity of separately established factoring companies in the early 1990s. The basic frame of this study constitutes an empirical comparison of factoring companies in Turkey as bank subsidiaries and independent factoring companies in terms of some selected financial ratios in 2009 and 2010 years. …

Essential Concepts Of Business For Lawyers, Robert Rhee

Robert Rhee

Accounting and finance cannot be taught through the dense text and format typical of legal casebooks. Mirroring textbooks used at business schools with significant quantities of visuals, Essential Concepts of Business for Lawyers uses many graphical elements, including pictures, charts, diagrams, and tables. Engaging hypotheticals are fun and engaging, but they also illustrate the application of important concepts in business situations. At the end of every chapter, there are three forms of review and summary: Essential Terms, Key Concepts, and Review Questions. The text uses many examples, specially set in example boxes, to illustrate and reinforce difficult concepts. Completely up …

June 2012, Inland Empire Business Journal

Inland Empire Business Journal

Texas Firm Targets Inland Empire Homeowners With Foreclosed 2nd Mortgages Adding new uncertainty in the state’s ongoing mortgage crisis, a Texas company is aggressively pursuing hundreds of Californians to collect second-mortgage debt—on homes they’ve already lost through foreclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Improve Productivity: Identify Your Staff’s Motivating Factors It is human to try to motivate another person from the same basis as one’s own perspective. Different people are motivated for different reasons both …

Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar

Muhammad Naeem Akhtar

This research paper argue that there exists a strong preference for dividends among investors. The main purpose is to find the factors that lead individual investors to reveal their preference for either cash or stock dividends. The most important dividend theories are employed to test the behavior of Pakistani individual investors towards dividends. The results reveal strong evidence that individual investors in Pakistan want dividends either in the form of cash or stocks. They also have a strong preference for dividend even if a company has to pay it by borrowing.

May 2012, Inland Empire Business Journal

Inland Empire Business Journal

News and Features

“More Americans Willing to Cross Borders for Health Care” A Pew Research Center poll shows that only 15 percent of Americans believe the nation’s health care system is the “best in the world.” A Gallop poll found that 29 percent of American adults are willing to travel outside the U.S. for medical treatment.

Exporting Their Way to Success Roy Paulson, president of Paulson Manufacturing Corp. in Temecula, exports to more than 100 countries. He knows a few things about bringing products to markets abroad, and he is now chairman of the Riverside County Manufacturers & Exporters Assoc. …

Film Financing: Thrilling Scenes And Investing Schemes, Charlotte Moore

Accounting Undergraduate Honors Theses

This thesis discusses investing in independent films and researches whether or not it is a scam by looking at techniques to draw in investors, accounting practices, and professional advice.

Investment Appraisal Techniques And Constraints On Capital Investment, Ahmed Imran Hunjra, Iram Batool, Ghulam Shabbir Khan Niazi, Ijaz Ur Rehman

Ahmed Imran Hunjra (PhD)

The objective of this study is to determine the level of application and perception of finance executives and analysts regarding the investment appraisal techniques in Pakistani corporate sector in the light of theory. This study also investigates the major constraints on capital investment. Total 63 questionnaires were distributed in different cities of Pakistan (Islamabad, Rawalpindi, Lahore, Multan and Faisalabad) but only 37 properly filled questionnaires were processed; the potential respondents were the finance executives and Chief Financial Officers (CFOs) of the companies. The companies listed at KSE related to ten leading sectors were the population of this study. It is …

Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar, Ahmed Imran Hunjra, Arifa Andleeb, Babar Zaheer Butt

Ahmed Imran Hunjra (PhD)

This research paper argue that there exists a strong preference for dividends among investors. The main purpose is to find the factors that lead individual investors to reveal their preference for either cash or stock dividends. The most important dividend theories are employed to test the behavior of Pakistani individual investors towards dividends. The results reveal strong evidence that individual investors in Pakistan want dividends either in the form of cash or stocks. They also have a strong preference for dividend even if a company has to pay it by borrowing.

Long Run Relationship Between Poverty And Macro-Economic Variables In Pakistan, Muhammad Naeem Akhtar, Ahmed Imran Hunjra, Nadeem Safwan, Abrar Ahmad

Ahmed Imran Hunjra (PhD)

This research study examines the long run relationship between poverty and economic indicators in Pakistan. Data from 1972 to 2010 is used to analyze the relationship between various economic variables and poverty. The economic indicators include; consumer price index, literacy rate and population growth. Head count rate is used to measure poverty. The statistical techniques used include unit root Augmented Dickey Fuller test (for checking the stationary data) & Johansen’s co-integration test for long run relationship. The study found co-integration between all the economic factors and poverty, which means that economic performance indicators are pertinent predictors of poverty. This can …

Determinants Of Financial Management Practices: A Conceptual Study, Ahmed Imran Hunjra, Jamshed Iqbal

Ahmed Imran Hunjra (PhD)

The purpose of this study is to investigate various factors (uncertainty, corporate social disclosure and stakeholder) that impact the selection of financial management practices. Further, this study attempts to explore the impact of financial management practices and earnings management on firm performance. In order to achieve the objective, a conceptual model has been developed based on previous theories and empirical literature. The findings of the study would be quite beneficial for capital providers – lenders and shareholders – who would like to use their funds for financial practices. On the other hand, capital providers will be hesitant to provide capital …

San Diego Center For Children Audit Committee Handbook, San Diego Center For Children

Finance

2012 edition of the San Diego Center for Children's Audit Committee handbook.

April 2012, Inland Empire Business Journal

Inland Empire Business Journal

Are You Committing the Seven Deadly Sins of Business Transformation? Too many employees these days are running on empty no matter how great their work ethic or their fear of unemployment. Mohan Nair believes that when people are motivated by a cause, they’ll work without stopping and without loss of energy. However, there are seven sins that you should know about that are waiting to trip you up if you want to transform your company

Hire Fast, Fire Faster If you have ever made a bad hiring decision, don’t worry you are in good company. All leaders and managers select …

Determinants Of Dow Jones Returns, Cory Sloan

Honors Projects

As of 2010, there was $14 trillion invested in the New York Stock Exchange (NYSE) and $55 trillion invested in stock markets worldwide. In this study, we use the Arbitrage Pricing Theory (APT) to identify the main determinants of the returns of the stocks that compose the Dow Jones for the period 1990-2011. We test several hypotheses on the relationship between firm specific variables such as Dividend Yield, Earnings Yield, Book-Market ratio, previous returns and the stock returns. We also document the relationship between several macroeconomic factors including T-bill rate, Default Spread, Term Spread, Unemployment, Real GDP and Inflation and …

San Diego Center For Children Finance Manual, San Diego Center For Children

Finance

2012 edition of the San Diego Center for Children's Finance Committee handbook.

March 2012, Inland Empire Business Journal

Inland Empire Business Journal

Acting Ethically is the Only Option Being ethical has a higher cost in hard times than in good times, which makes being ethical difficult in our current economic climate. But, even good times can encourage bad behavior as one might get a sense of invincibility when the money is rolling in

Creating a Dynasty: Three Leadership Styles You Need at the Top (and the Followers Needed to Support That System) Dr. Jack Stark outlines the championship formula model that identifies three core leadership styles

Business Beyond Borders—Global Skills for Today’s Boards to Secure Tomorrow’s Success As the world becomes more …

State And Local Governments With Conforming Changes As Of March 1, 2012; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Reit White Paper, Frederic Juillet

Frederic Juillet

Subject: Resulting from the recent financial crisis, this white paper discusses how to better defend shareholders’ investments in Real Estate Investment Trusts (REITs) for the long-term and how to reduce volatility in the REITs market.