Business Commons^™

Policy Frameworks And Citizens’ Use Of Fintech Solutions: The Pros And Cons In Egypt, Salma Al-Mohamady

Theses and Dissertations

This thesis provides a comprehensive analysis of the significant influence of financial technology (FinTech) on the banking industry, consumer finance, and economic growth. It specifically concentrates on the swiftly changing FinTech environment in Egypt. The study investigates the impact of incorporating advanced technologies on worldwide financial practices, which has significantly transformed traditional banking models and facilitated the emergence of inventive financial services. The transition is clearly apparent in Egypt, where the expansion of FinTech has been driven by advances in regulations, adaptation to technology, and a population that is becoming more comfortable with digital solutions.

Using a combination of quantitative …

Stock Splits And Corporate Peer Effects, Albert J. Saad

Theses and Dissertations

We find that a company’s decision to execute a stock split is affected by the number of stock splits carried out by its peers. Through the use of a broad peer group construction methodology, we also reveal the presence of asymmetric effects with regard to companies of different market capitalization size. In the periods of 1983–1996 and 1997–2009 we find that firms are more likely to split their stock if more of their peers have recently done so. However, in the period of 2010–2019 we see that the opposite is true. These results provide further evidence on social learning from …

Lobbying – A Financial Perspective, Sean Byrne

Theses and Dissertations

U.S. based bank holding companies (BHCs) exert influence at every step in the legislative process where financial regulatory reforms are enacted into law, such as the Dodd-Frank Act, to promulgation of regulations. In Chapter II, we maintain that BHCs, upon facing salient regulation, lobby regulators to have their opinions heard with the goal of favorable regulatory change and to increase non-traditional revenues. We undertook a novel collection of political and financial data from 2003 to 2018, matching 180 pairs of parsed proposed and final regulations. BHCs that participated in commenting on proposed rules are highly successful at having their views …

The Effects Of Environmental Corporate Social Responsibility On Financial Returns, Kevin Acevedo

Theses and Dissertations

A major issue concerning companies is global warming and the impact that firms have on the environment. Companies are taking steps towards sustainability, but it is unclear if sustainable business practices are beneficial to companies’ financial performance. This paper examines the effect of environmental corporate social responsibility (CSR) of Fortune 250 companies on financial performance. The analysis reveals significant effects on financial performance, but they are inconsistent and hard to interpret.

The Impact Of The Capital Market, The Insurance Sector And The Mortgage Finance Sector On Economic Growth In Egypt, 2005-2019, Hana Anis

Theses and Dissertations

This thesis aims to explore the relationship between financial markets and economic growth in Egypt for the 15 years period, starting from 2005 to 2019. The study concentrates on the non-banking financial sector which includes the stock market, the debt market, the mortgage and the insurance sectors. The Vector Autoregressive (VAR) model is utilized to describe the relationship between GDP growth rate, as a proxy for economic growth, and a number of variables from the financial sector. Results of the analysis show that there is a significant relationship and statistical causality between the growth rate and the debt market, represented …

A Contemporary Study On The Impact Of Regulations On Business Performance, Brian C. Mulligan

Theses and Dissertations

This dissertation examines Nobel Prize Laureate Hayek's ominous warning that economic liberty in the U.S. is at risk, due to regulations, of becoming an unplanned administrative state. The research seeks to understand the effects of regulations on business performance and how to right-size them for a healthy business environment. These objectives are accomplished with two papers: (1) a macro cross-discipline literature review and call for research on the impact of regulations on business performance, and (2) a qualitative grounded theory study from interviews from elite business executives on their perspectives on the impact of regulations on business performance. The findings …

Forecasting Attrition By Afsc For The United States Air Force, Trey S. Pujats

Theses and Dissertations

Retention and personnel management is a challenge for every organization, particularly the military due to its hierarchical structure and barriers to entry. Talent must be developed and retained to become leaders, beginning at the lowest level in the Air Force. The Air Force faces a retention problem unlike most organizations that requires a unique perspective and tailored solution to each Air Force Specialty Code (AFSC). There exists previous efforts to predict attrition rates in the Air Force based on economic factors. This study expands upon the economic factors and tailors the predictor variables of attrition based on the AFSC. The …

Why We Use A New Currency: The Role Of Trust And Control In Explaining The Perception And Usage Of Bitcoin, Joseph B. Walton

Theses and Dissertations

Social media, e-commerce, global peer-to-peer technologies, and the near ubiquity of computers and smartphones allow people to interact, trust, and exchange value across traditional socio-economic control boundaries and over significant distances. Since the creation in 2008 of a new cryptographic currency system called Bitcoin, a financial technology market sector of about 250 billion USD has rapidly emerged, raising questions about the nature of currency in society and whether new types of non-national money are warranted and viable. This debate has pitted heterodox economic interests against orthodox economic interests while it has rekindled interest in theories that view money as a …

Environmental Governance For Whom? Examining The Political, Institutional, Fiscal, And Legal Determinants Of State Environmental Agency Budget Policy In The Us, Andrew R. Duggan

Theses and Dissertations

Budgets are a prospective tool of governance, and appropriations are a planning vehicle reflecting: bureaucracies’ values, complex interactions, collective preferences, political influences, and available resources. Research spanning 30 years finds that environmental pollution is a key determinant of environmental budgets in the US, though myriad factors, actors, and subsystems are important to consider. Due to federalism and devolution of responsibilities and authorities, environmental governance falls largely to the states. While the dynamics that shape state environmental budget policy have received scholarly interest, theoretically-driven examinations of environmental appropriations remain limited within the public budgeting and environmental policy literature.

Using panel data …

Essays In Financial Economics, Kamilla Kasymova

Theses and Dissertations

This dissertation consists of three essays concerning financial economics.

In the first essay, I focus on the role of the life insurance in the financial markets and the factors that drive the development of life insurance industry. The essay examines the causality of the banking sector development on the development of the life insurance market measured by the total premiums received by life insurers using panel estimation for about 90 countries over the period 1996-2010. I employ the dynamic System Generalized Method of Moments estimation technique to resolve the endogeneity problem between the development of the life insurance and the …

The Quality Of Xbrl Structured Financial Statements: An Empirical Examination Of Custom Tags, Aidana Razhap Kyzy

Theses and Dissertations

In 2009 the US Securities and Exchange Commission (SEC) adopted the eXtensible Business Reporting Language (XBRL) system to improve the process by which financial statements can be used. Interactive financial data filed with the SEC using XBRL provides easily readable and comparable financial data, thereby improving transparency and efficiency in the corporate market. SEC rules permit companies to use custom tags in their financial reports in cases when an appropriate element cannot be found in the Financial Accounting Standards Board (FASB) standard XBRL taxonomy. The inordinate use of custom tags may result in a reduction of financial report quality by …

The Connection Between Race And Performance Of Nba Draft Picks, Jeremiah Mitchell

Theses and Dissertations

This paper examines the relationship between race and performance in terms of one of the highest forms of efficiency in basketball, field goal percentage, based on college statistics, with regard to draft position, career earnings and NBA win shares.

Credit Risk And Corporate Governance, Olivier Mugisho Mudekereza

Theses and Dissertations

Is the executive’s compensation structure influenced by the credit rating assigned to his company? I analyze a panel of U.S. public firms using the random-effects and fixed-effects estimations. Compared to firms with lower credit risk, I find that firms facing higher probability of default provide more incentives for their CEOs.

Three Essays On International Credit Market And Monetary Policy, Anni Huang

Theses and Dissertations

My dissertation studies the behavior of international credit flow and the associated monetary policy spillover effect. In the first chapter, I am interested in decomposing the long-run variations and the short-run variations of US dollar denominated credit in emerging market economies. This paper uses a multivariate correlated unobserved component model to study the dynamic relationship among dollar credit in emerging market economies, US interest rates and the dollar index. The results from this model suggest that the transitory shocks to dollar credit in emerging market economies are highly negatively correlated with the transitory shocks to the US interest rate and …

How Should We Motivate Effort, Shamima Khan

Theses and Dissertations

This research uses an experimental design to study if the pattern and positioning of rewards influence the amount of effort participants put in. The three key hypotheses tested here are: 1) are people more likely to complete a task if the incentives are given in more regular intervals, 2) do uncertainty of reward timing hurt or help in maintaining motivation, 3) is intrinsic motivation more influential than the patterns in which incentives are structured? The treatments in this experiment are created by varying the reward structure of candies and pens in exchange of a simple math test completion. Among the …

A Hero A Minute: The Manufacture Of Aura And Rarity In The World Of Sports Memorabilia And Rapid Commemoration, Roger C. Draeger

Theses and Dissertations

This is a study of the contemporary sports memorabilia industry and its surrounding culture through the analysis of a pair of its biggest providers. The following research explores the business model of Steiner Sports and examines its methods concerning pieces of game-used memorabilia and personal artifacts. The workings of Fanatics Authentic are also evaluated through the analysis of its specific line of In-Focus photographs and its sports memorabilia show held in the spring of 2016. The examination of both companies reveals techniques of manufacturing both rarity and aura that exist in the sports memorabilia industry. Steiner’s focus on providing intimate …

Essays On The Economics Of International Remittances And Migration, Marian Manic

Theses and Dissertations

Existing literature on international remittances recognizes the increasing importance of these transfers on economic development as well as their effect on the reduction of poverty in developing countries. However, the studies on this topic are still divided over the long-term effects of remittances, identifying instances when remittances have either positive or negative results. Probably the most important oversight of the literature on international remittances and migration is the lack of the regional dimension in the analysis, which is the focus of this dissertation.

In the first chapter I propose a novel spatial dataset of remittances and spending from a nationally …

Strategic Inventories In A Supply Chain With Vertical Control And Downstream Cournot Competition, Vijayendra Viswanathan

Theses and Dissertations

Strategic Inventory (SI) has been an area of increased interest in theoretical supply chain literature recently. Most of the work so far however, has only considered a supply chain without downstream competition between retailers. Competition is ubiquitous in most market situations, hence, interactions between SI and retailer competition merits study as a first step in bringing the conversations and insights from this stream of literature to the real world.

We present here a two-period and a three-period model of one manufacturer supplying an identical product to two retailers who form a Cournot duopoly. We also study a Commitment contract, where …

The Innovation Makerspace: Geographies Of Digital Fabrication Innovation In Greater New York City, Kathryn Dickerson

Theses and Dissertations

Desktop digital fabrication technology has the potential to powerfully alter the economics, geography, and sociology of production. The desktop technology cannot reach its potential for widespread impact until it improves in quality and decreases in price. Makerspaces have emerged in the United States in the last eight years as informal social organizations where innovation in this technology may be occurring. This study examines whether innovation in digital fabrication technology has occurred, or has the potential to occur, at makerspaces in the New York City area.

Determinants Of Product Upgrading In The Argentine Wine Industry, Lucas Marc Cyr

Theses and Dissertations

In this thesis, I examine the impact that a firm's connections and internal resources has on the firm's ability to develop new products. The capability to make improvements to products is crucial to the long term success and growth of a firm. By using structural equation modeling, I take a different approach to network analysis to analyze data from the Argentine wine industry. While I did not find strong evidence to support the hypothesis that the combination of external networks and internal knowledge are key drivers to product upgrading, there was strong evidence to support each individual determinant’s impact on …

Impact Of Monetary Uncertainty And Economic Uncertainty On Money Demand In Africa, Alice Kones

Theses and Dissertations

This dissertation investigates the role that economic uncertainties and monetary uncertainties play in the money demand function for 21 African countries. The Auto-regressive Distributive Lag (ARDL) and F-test approach are employed using quarterly time series data covering the period from 1971I-2012IV. In particular, this paper aims to demonstrate both short and long-run relationships between the dependent variables, Real Money Aggregate (M2), and the independent variables that include real income (Y), inflation rate nominal effective exchange rate (NEX), output uncertainty (VY), and monetary uncertainty (VM). We apply GARCH methodology to approximate the uncertainty measures. The empirical results show that except for …

Three Essays In Labor Economics, Benjamin Jack Van Kammen

Theses and Dissertations

There are three chapters in this dissertation, each of which consists of a journal-length article. They are on the following subjects.

The first chapter uses ordinances in San Francisco and Washington, D.C. to measure the effects of mandated paid sick leave on employment and wages. Using the Quarterly Census of Employment and Wages, an employment increase is observed in San Francisco and Washington, D.C. relative to places without an ordinance. This evidence suggests that sick leave mandates correct a market failure of under-provision of benefits.

The second chapter uses a novel measure of distance based on the O*Net Content Model …

Contract Over Target Baseline (Otb) Effect On Earned Value Management's Cost Performance Index (Cpi), Dennis E. Jack

Theses and Dissertations

Cost growth is a problem in U.S. Department of Defense (DoD) acquisitions. A particular component of cost growth is a cost overrun or Over Target Baseline (OTB). In 2009, Trahan found that the Gompertz growth curve better predicted program Estimates at Completion (EAC) for OTB contracts. In 2010, Thickstun studied “the relationships between overruns and a variety of factors,” but found OTB occurrences “random” and questioned the benefit of the OTB process (Thickstun, 2010). In this research, we study OTB‟s ability to effect improved program cost performance; we examine OTB‟s effect on the cumulative Cost Performance Index (CPI) slope after …

Feasibility Of Jp-8 To Jet A Fuel Conversion At U. S. Military Facilities, Lance A. Vann

Theses and Dissertations

In FY06, The Department of Defense (DoD) military grade jet fuel expenditures eclipsed $6.6 billion dollars. In a search for more cost effective options, the Office of the Secretary of Defense Comptroller recently expressed interest in the quantity of commercial Jet A fuel that the United States Transportation Command uses in lieu of military grade JP-8. In accordance with AFSO 21 and LEAN concepts, this research examines the technical feasibility and opportunity for cost avoidance of a conversion from JP-8 to Jet A at six Northwestern United States military installations. The technical feasibility analysis examines the chemical likeness of JP-8 …

The Impact Of Human Capital On The Cost Of Air Force Acquisition Programs, Jeffrey C. Feuring

Theses and Dissertations

Previous studies have established a link between Human Capital and performance both at the firm and the individual level. These studies have shown that performance can be improved with additional personnel and/or higher education levels. This study attempts to build on this relationship by using the Cobb-Douglas Production function to relate inputs to outputs. The inputs to the function are the number of cost analysts positions, military and civilian, and an education variable for the number of master’s degrees in the field. The measure of output is the average cost overrun of Air Force contracts. A time series regression was …

Building A Consensus Forecast For Crude Oil Prices, Kenneth W. Burke

Theses and Dissertations

Skyrocketing fuel prices have stressed the Department of Defense's budget in recent years. In 2001 the DoD spent $4.7 Billion on fuel with the Air Force consuming $2.7 Billion. These figures have grown over due to these increases as well as the increased flying ours to support the Global War On Terror. In fact, the Fiscal Year 2007 budget has already been increased by $1.1 billion, or 1% of the total budget, to accommodate the increased price of fuel. Current forecasts of this resource have yielded poor results, impairing the DoD's ability to budget this critical expense. Further because the …

Challenges And Responses : An Analysis Of Economic Development Among Some East Asian Newly Industrializing Countries (Nics) Or Areas; The Effect Of Their Using Tax Incentive Systems To Attract Foreign Investment With Lessons From Taiwan's Tax Incentive System As An Illustration, Li Pai Chia Kuo

Theses and Dissertations

Sustained economic development since World War II was the phenomenon of the "East Asian Miracle," although the glory was tainted by the impact of the 1997 Asian financial crisis. South Korea, Taiwan, Singapore, and Hong Kong were among the East Asian Newly Industrializing Countries (NICs) who shared the phenomena but each had unique circumstances with which to deal. China, on the other hand, stagnated before the 1978 opening to the world but has improved spectacularly economically since, and retains its momentum going into the new millennium. The motive and dynamics of the East Asian economic phenomena have been studied thoroughly, …

A Model For Successful Reutilization Of A Military Installation: A Case Study Of Gentile Air Force Station, Maria L. Garcia

Theses and Dissertations

Previous research concerning base closure and reutilization focused on the roles of government agencies and the assistance they provided. This study looks at the community and the impact of installation closure. The process of planning for reuse of an installation is difficult and confusing. The guidance provided by the government has changed drastically since the first closures announced in the 1988 Base Realignment and Closure Committee recommendations. This study focuses on the strategy employed by Kettering, OH to successfully reuse Gentile AFS upon closure. As the final part in a longitudinal study, the research focus was lessons learned and implementation …

The Implementation Of Federal Government Policy In The Reuse Planning Of Military Installations: A Case Study Of Gentile Air Force Station, John L. Hoover

Theses and Dissertations

Local communities affected by a base closure are uncertain as to their future and look to the federal government for guidance and economic assistance in rebuilding their local economy. The local communities want to close the base with as little federal government interference as possible and convert the base to civilian use with as much federal financial assistance as possible. During 1993-1994 two Air Force Institute of Technology research teams began longitudinal case studies of the base closure and rescue process at Gentile Air Force Station, Ohio to determine the effectiveness of the federal government's current approach. These research teams …

A Case Study Of The Base-Closure Community Initial Redevelopment Process, Stephen R. Cliatt, Gregory A. Stanley

Theses and Dissertations

In 1990, Public Law 101-510 created the independent, five-year Defense Base Realignment and Closure Commission BRAC. This law provided for the Commission to meet in 1991, 1993, and 1995. The 1993 Commission recommended transfer of the Defense Electronic Supply Center DESC, a Defense Logistics Agency inventory control point, to Columbus, Ohio. This action resulted in an Air Force decision to close Gentile AFS, Kettering, Ohio. A case study of the closure and initial redevelopment of Gentile AFS was undertaken to construct a framework to be used by future redevelopment policy makers affected by a defense base closure. This framework covers …