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Full-Text Articles in Business

The Impact Of Securitization, Bank Liquidity Shocks, And Government Intervention On Lending And Banks' Asset Composition: Evidence From The U.S. 2007-2009 Financial Crisis, Peter V. Egly Dec 2013

The Impact Of Securitization, Bank Liquidity Shocks, And Government Intervention On Lending And Banks' Asset Composition: Evidence From The U.S. 2007-2009 Financial Crisis, Peter V. Egly

Theses and Dissertations - UTB/UTPA

The 2007- 2009 financial crisis creates a new wave of research opportunities in part due to the transformation of the banking system that led to the development of securitized banking that is supported by short term funding sources provided through the money and capital markets. The near collapse of the financial system ultimately led to the ensuing government intervention by the Federal Reserve and the U.S. Treasury department to revive the frail U.S. economy. This dissertation has two basic research objectives: 1) investigate the impact of securitization and the subprime mortgage collapse on bank lending during the crisis and 2) …


Essays On The Relationship Between Investor Sentiment And Real Estate Investment Trusts, Daniel Huerta Aug 2013

Essays On The Relationship Between Investor Sentiment And Real Estate Investment Trusts, Daniel Huerta

Theses and Dissertations - UTB/UTPA

Real Estate Investment Trusts (REITs) are federal tax-exempt firms originated in 1960 to allow investors participation in professionally managed real estate to attain greater portfolio diversification. Although REITs are often considered transparent and informationally efficient, extant literature suggests that investor behavioral biases impact their prices and returns. This dissertation examines the relationship between investor sentiment and REITs, contributing to the literature in the following distinct ways. First, I examine the contemporaneous and intertemporal impact of changes in sentiment on REIT returns making a distinction between sentiment derived from large institutional investors and small individual investors. Results suggest that sentiment from …


Investor Return In Reits: Evidence Of Market Timing And Capacity Constraints, Ekaterina Petrova Damianova May 2013

Investor Return In Reits: Evidence Of Market Timing And Capacity Constraints, Ekaterina Petrova Damianova

Theses and Dissertations - UTB/UTPA

This dissertation studies the returns earned in Real Estate Investment Trusts (REITs) from the point of view of the average investor. Traditional buy-and-hold returns while appropriate as a measure of return for financial asset may not adequately reflect the returns of the average individual investor because they do not take into account the capital flows in and out of an asset. Just as their name suggests, these are the returns one would earn if one buys a financial asset or portfolio at the beginning of a period and holds the investment until the end without making changes to the amount …


Essays On Ceo Networks And Banking, Fang Fang May 2013

Essays On Ceo Networks And Banking, Fang Fang

Theses and Dissertations - UTB/UTPA

This dissertation includes three essays on CEO networks and banking. I built a social networks matrix among the U.S. bank CEOs based on their biographical information. I investigate how social networks of CEOs impact bank risk-taking, bank performance, and bank acquisitions during financial crisis. Essay one, "CEO networks and bank risk taking", investigates the relevance of bank CEO networks to bank risk during the credit crisis of 2008. If social networks provide a CEO an enhanced flow of information, a better understanding of risk embedded in industry innovation, and more accurate marketing timing and forecast, then the expectation is that …


Three Essays On Hedge Fund Flows, Regulation, And Economic Geography, Weifang Yang May 2013

Three Essays On Hedge Fund Flows, Regulation, And Economic Geography, Weifang Yang

Theses and Dissertations - UTB/UTPA

Chapter I studies the effect of tax policies (Tax Information Exchange Agreements (TIEAS)) on hedge fund flows and indirectly on hedge fund manager and investor behavior in six tax haven countries. I find that structural changes in both hedge fund dollar flows and net flows occurred in the tax haven countries as a result of TIEAS. I also find that both hedge fund dollar flows and net flows of the countries that signed TIEAS and the countries that did not sign TIEAS increased after their structural break points. Chapter II investigates whether a causal relationship exists between hedge fund flows …