Digital Commons Network^™

Do Investors Herd Intraday In Australian Equities?, Julia Henker, Thomas Henker, Anna Mitsios

Thomas Henker

Purpose – The purpose of this research is to consider whether market wide herding occurs intraday.

Design/methodology/approach – Using the 1995 Christie and Huang and the 2000 Chang et al. models, the paper tests whether market wide and industry sector herding occurs intraday in the Australian equities market.

Findings – Neither market wide nor industry sector herding occurs intraday.

Research limitations/implications – Both herding measures focus on one specific type of herding, herding evidenced by changes in the cross-sectional return distribution. Therefore the herding measures are ill suited to capture the effects of period specific abnormally high or low market …

Promoting Investments In Intangible Organizational Assets Through Aligned Incentive Compensation Plans, Susan Hughes, Craig Caldwell, Kathy Paulson Gjerde

Craig B. Caldwell

Evolution Of Corporate Governance Control In Manufacturing Firms, Alberto Nobolo, Francesca Magli

francesca magli

No abstract provided.

Change In The Concentration Of Employment In Computer Services: Spatial Estimation At The U.S. Metro County Level, Donald Grimes, Mary Beth Walker, Penelope B. Prime

International Business Faculty Publications

This paper models the concentration of computer services activity across theU.S.with factors that incorporate spatial relationships. Specifically, we enhance the standard home-area study with an analysis that allows conditions in neighboring counties to affect the concentration of employment in the home county. We use county-level data for metropolitan areas between 1990 and 1997. To measure change in employment concentration, we use the change in location quotients for SIC 737, which captures employment concentration changes due to both the number of firms and the scale of their activity relative to the national average. After controlling for local demand for computer services, …

Take Pride In America In Southern Nevada: Quarterly Progress Report, Period Ending December 31, 2006, Margaret N. Rees

Anti-littering Programs

• Don’t Trash Nevada roll-out event held on October 12, 2006.

• Program website launched.

• 74 people have taken the on-line anti-litter and dumping pledge.

• Public-private partnership with Republic Services of Southern Nevada generated $11,917.97 in donations to Don’t Trash Nevada.

• Conducted 3 volunteer and 1 alternative workforce clean-ups this quarter.

• Fulfilled deliverable of 12 clean-ups for 2006 (9 volunteer / 3 alternative workforce).

• 16 volunteer clean-ups scheduled for 2007. • Two tons of agency-generated paper recycled this quarter, saving 14,000 gallons of water, 34 trees, and almost 8 cubic yards of landfill space.

• …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2006, Central Bank Of Nigeria

CBN Annual Report

This Report reviews the operations of the Central Bank of Nigeria (CBN) and macroeconomic developments during the fiscal year 2006 and appraises the major economic policy outcomes during the period. The Bank reported a stable foreign exchange market in 2006, with an average effective official exchange rate of N 128.65 per U.S dollar, an increase of 2.6% over 2005. The stock of external reserves, valued at US$12.30 billion, was 49.6% higher than in 2005, driven by high crude oil prices and lower debt-service burden. The reserves were equivalent to 28.4 months of import cover, exceeding the 6 months requirement under …

Business As A Mission; Business As A Calling (Long Version), C. William Pollard

C. William Pollard Papers

Speaking at InterVarsity's Open for Business Conference in St. Louis, MO, Pollard describes vocation as fulfilling whatever call God has placed on our lives. By drawing upon his own story as a Christian businessman, he shows how such a fulfillment requires the implementation of servant leadership.

Business As A Mission; Business As A Calling (Short Version), C. William Pollard

C. William Pollard Papers

Speaking at InterVarsity's Open for Business Conference in St. Louis, MO, Pollard describes vocation as fulfilling whatever call God has placed on our lives. By drawing upon his own story as a Christian businessman, he shows how such a fulfillment requires the implementation of servant leadership.

Accounting, Education And Research As Infrastructure For A Modernizing Economy, Shyam Sunder

Shyam Sunder

No abstract provided.

Lu To Offer Doctorate In Education, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

Volatility Spillovers Between Stock Prices And Exchange Rates: Empiral Evidence From Six Apec Economies, Lucia Morales, Mary O'Donnell

Conference papers

This paper set out to examine the volatility linkages between stock returns and exchange rates in a number of East Asian markets. Overall, our main results indicate that since the Asian financial crises, there exists significant scope for investors and portfolio managers to diversify their assets between stocks and currencies in these markets. In particular, the lack of volatility spillovers between stock markets and exchange rates, and between exchange rates and stock markets in all countries, except Taiwan in the post crises period indicates that there is scope for investors to diversify their investments and to benefit from potential gains …

Pacific Ridge School Employee Policy And Procedures Manual, Pacific Ridge School

Human Resource and Volunteer Management

Pacific Ridge Employee Policy and Procedures Manual from 2006.

Enhancing Student And Graduate Employability In The Hospitality Industry: A Video Project, Thyagarajan V. Ammachathram

Master's Theses and Doctoral Dissertations

Employment interviews are designed to judge the qualifications and desirability of a candidate for a job. Research shows that interviews are incredibly important in getting the right job. A study conducted by the Bureau of National Affairs pinpointed the most important factors in hiring applicants, with employment interviews being the single most important factor in getting a job (Elfner, 2006). Hospitality firms are placing greater emphasis on the ability of graduates to fit within their businesses (Pittaway & Thedham, 2005). Even though qualifications and skills are vital for selection, candidates should know how to set themselves apart from other candidates …

The Effect Of Defined Contribution Plans On The Retirement Decision, Wonku Hong

Risk Management and Insurance Dissertations

This study examines the effect of pensions on the timing of retirement, focusing on the differences between defined benefit (DB) plans and defined contribution (DC) plans. I find that DC plans have different effects on the accumulation of retirement wealth, the incentives for retirement and the risk of retirement benefits than DB plans. Thereby, DC plans have different effects from DB plans on the decision to retire. This paper is the first empirical study to investigate the effect of longevity risk in pension plans on retirement. It is an important addition to the literature on retirement behavior since longevity risk …

The Australian National Security State And The Third Sector: Who Is Really Protecting Australia's National Security?, Mark Rix

Sydney Business School - Papers

This paper will consider the implications of the Australian Government’s recent national security and anti-terrorism legislation for its relations with Australian citizens and with third sector organisations, like those comprising the community legal sector, that seek to promote and defend citizens’ civil, political and social rights. The series of bills enacted by the Australian Parliament since September 11 2001, the culmination of which has been the Anti-Terrorism (No. 2) 2005 Bill, removes many of the freedoms and rights that Australians have for many years been able to take for granted. The 2005 Bill’s detention and control orders, for example, degrade …

Comparison Between Arpa Radar And Ais Characteristics For Vessel Traffic Services, Bin Lin, Chih-Hao Huang

Journal of Marine Science and Technology

Recently most maritime countries in the world have fitted automatic identification system (AIS) in vessel traffic services (VTS) in compliance with regulations of International Convention in order to identify ship name and collect ship information. Traditionally VTS operators use automatic radar plotting aids (ARPA) to get ship maneuvering information for preventing ships from navigational faults. Although the two equipments can provide similar functions for VTS, the operational theory of them is quite different. In this study an experimental observation was carried out by means of ARPA radar and AIS fitted in the building of Merchant Marine Department, NTOU. The detected …

Application Of Fuzzy Critical Path Method To Airports Cargo Ground Operation Systems, Tzeu-Chen Han, Cheng-Chi Chung, Gin-Shuh Liang

Journal of Marine Science and Technology

To cut down cost in a competitive environment, airlines must avoid delays and operation inefficiencies in both airside and landside. However, previous studies have paid little attention to an airlines’ ground operation in airports’ cargo terminals. The purpose of this paper is to demonstrate how to employ the Fuzzy Critical Path method (CPM) to find out airport’s ground critical operation processes and improve. The result of this study suggests redesigning airports’ cargo handling processes can improve airlines’ freight service performance in terms of freight handling speed, cargo service quality, and freight handling cost in hub airports.

Science Fair Winners To Receive Scholarships, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

Taxes And Competitiveness, Michael S. Knoll

All Faculty Scholarship

Around the world, the tax laws are shaped by concerns with competitiveness. This paper provides a general theory of how taxes impact competitiveness. As part of that theory, this paper also introduces the concept of tax-based competitiveness neutrality. A tax system is competitively neutral when taxes do not cause competitors to change their relative valuations of any investments. This paper then uses that theory to evaluate tax policy in two high profile and important areas. The paper begins by describing two models of competitiveness, called the conduit or new money model and the investor or old money model. The central …

Adjusting To The Euro, Gabriel Fagan, Vitor Gaspar

CRIF Seminar series

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households' expenditures and a corresponding fall in the savings ratio. Increased expenditure was associated with current account deficits, a sharp fall in the net foreign asset position and an increase in the households' indebtedness. At the same time there was a sizeable increase in the real exchange rate. In this paper, we show …

The Relationship Between R&D Investment And Dividend Payment Tax Incentives And Their Role In The Dividend Tax Puzzle, Mary Catherine Cleaveland

Accountancy Dissertations

Although much research on corporate dividend policy exists, the evidence is far from conclusive. Understanding how dividend taxes affect firm-level decisions is crucial to evaluating dividend imputation credits which provide shareholder-level tax credits for dividends received or decreased shareholder-level dividend tax rates, which reduce the double taxation of dividends. Using changes in New Zealand and Australia’s tax regimes, this dissertation provides new evidence on the relationship between tax incentives for R&D investment and dividend payment. The results show that the theory that the tension between R&D investment and dividend payment decreases when a country previously not offering tax incentives for …

Perceptions Of Service Failure, Service Recovery Strategies, And Behavioral Intentions Of Hotel Guests In Orlando, Florida, I-Hua Lin

Graduate Student Dissertations, Theses, Capstones, and Portfolios

Numerous studies have shown a positive correlation between customer satisfactions and repurchase intention. However, service failure can put companies out of business if attention is not paid to this problem. This study explained the components of service recovery strategies used when service failure occurs in each situation in a hotel, and to link customer response to service recovery strategies to behavioral intention, as applied to the hotel industry in Orlando, Florida.

The purposes of this study were to investigate the explanatory relationships between hotel guests' sociodemographic characteristics and perceptions of (a) service failure; (b) service recovery strategies in each service …

Ada News - 12/11/2006, American Dental Association, Publishing Division

ADA News

Established in 1970 as the official newspaper of the American Dental Association, the ADA News serves practicing dentists and others allied to the dental profession in the U.S. and internationally. It is the No. 1 source of news and information about the many benefits and services the ADA delivers to members daily as well as timely information on scientific, social, political and economic developments affecting dentistry and health care.

Innovation Lock-In: Unlocking Research And Development Path Dependency In The Australian Wine Industry, D. K. Aylward

Faculty of Commerce - Papers (Archive)

Innovation within the Australian wine industry is at a crossroads. More specifically, under the influence of fundamental paradigm shifts, the objectives, extension and uptake of R&D within the industry’s current innovation framework are being subjected to rather schizophrenic forces. At one level, industry organizations are directing the R&D agenda from within a national, ‘Brand Australia’ context. At another level, the firms that are being serviced by these organizations are demanding region-specific R&D extension in response to global pressure for differentiation and products at higher price-points. This paper will explore these contradictory forces and the degree to which they signal an …

A Drive Towards Technology Girls Incorporated Of Cny Action Research Project, Lauren J. Hardee

Regis University Student Publications (comprehensive collection)

When the technological system of an organization is deficient, it systematically promotes those deficiencies throughout the organization. The technical infrastructure of Girls Inc. was outdated, not standardized, and operationally deficient and hampered normal business activity. Given its practical application (French, et al.), an Action Research methodology was employed to identify the issues and solve the technological problems facing the Girls Inc. CNY organization. The result of this action research project is a framework for a technological infrastructure that prepares the Girls Inc. organization for the future.

What Drives Firms To Diversity?, Rong Guo

Finance Dissertations

WHAT DRIVES FIRMS TO DIVERSITY? By RONG GUO Committee Chair: Dr. Omesh Kini Major Department: Finance This paper examines whether corporate governance structures, serving as proxies for agency costs, can explain firms’ decision to diversify. Specifically, it has been hypothesized that firms with worse corporate governance structures are more likely to diversify. The extant literature usually compares the governance characteristics of multi-segment firms to those of single segment firms to address this issue. However, different governance characteristics may simply reflect differences in firm characteristics of diversified firms and focused firms. Furthermore, industry factors may affect both the propensity of firms …

Strategic Partnerships And The Internationalisation Process Of Software Smes, Aileen Kennedy, Kathy Keeney

Conference papers

This research investigates the strategic partnering activities of software SMEs (small to medium sized enterprises), their motivations to engage in strategic partnerships as part of the internationalisation process, the key benefits achieved and the main challenges encountered. A qualitative research methodology focusing on Irish indigenous firms is used. Findings suggest that strategic partnerships were initiated to take advantage of firm synergy, reputation and credibility advantages. Partnerships also served as an important foreign market entry mechanism allowing firms to accelerate sales cycles and reduce risk in overseas markets. Challenges facing firms included partner selection and issues of control. Directions for further …

Design As Research: Emergent Complex Activity, Helen M. Hasan

Faculty of Commerce - Papers (Archive)

There is current interest in design science as a research method in the field of Information Systems. This paper explores this proposition by incorporating established theories into the design research process. These include a view of information systems as essentially socio-technical, notions of tool mediation and expansive learning from Activity Theory and the concept of emergence from Complexity Theory where good design outcomes come from non-deterministic and organic processes. A case of innovative collaborative systems development illustrates how this view of design science may be of value.

Go*Team: A New Approach To Developing A Knowledge Sharing Culture, L. Warne, Helen M. Hasan, D. Hart

Faculty of Commerce - Papers (Archive)

In the ideal organisational environment, the voluntary transfer of information and knowledge would be the norm, and this understanding would underpin ongoing collective sense-making, leading to appropriate and creative actions for organizational outcomes. Workplaces are full of learning opportunities and in work life, socially based learning is occurring all the time. This paper describes Go*Team, a micro world simulation, for helping enculture the importance of collaborative processes that are at the heart of a knowledge sharing culture. The design of Go*Team and ways of playing the game are discussed, as are ways that Go*Team can be applied in order to …

Sna As An Attractor In Emergent Networks Of Research Groups, Helen M. Hasan, Hamid Pousti

Faculty of Commerce - Papers (Archive)

While many progressive enterprises are becoming more network-centric, many research-oriented organisations retain a traditional hierarchy with an ego-centric culture. Paradoxically, network-centrism is associated with technology, innovation and creativity, the hallmarks of cutting-edge research. Using concepts of emergence from complexity theory, this study takes a developmental, action research approach to the application of social network analysis in legitimising a network of research groups in a traditionally managed institution. The results indicate that an emergent network is as valid an organisational structure as an imposed hierarchy for research management. The study also demonstrates the use of social network analysis and similar technological …