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Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke Confirmation Hearing Q&A, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Question and answers from Ben Bernanke's confirmation hearing as distributed to members of the St. Louis Federal Reserve Board.

"All The Crises Reached A Concerted Crescendo" - The Arab Oil Embargo And Why The United States Was Unprepared For It, Jonathan D. Chilcote

Masters Theses & Specialist Projects

During the 2008 spike in oil prices, oil companies and government officials were brought under close scrutiny as many Americans began to question why prices were able to rise so quickly. Americans had become accustomed to living in an economy where cheap oil was the norm, and demanded answers when that situation changed. What most of them did not know is that they were repeating history and mimicking the response to the 1973 oil embargo. Just as in 2008, the United States faced a crisis in 1973 with which it was unprepared to effectively cope. This thesis analyzes the reasons …

Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …

Would Spain Also Restrict Imports To Save Jobs? Why Not Try "Trade Equilibrium" Instead?, Narendra Bhandari

Faculty Working Papers

Chinese tires, subsidized by its government, are much cheaper than their American counterparts. As a result several American tire plants have been closed and thousands of Americans have lost their jobs. In light of these setbacks, President Obama levied an extra 35% tax on these imports in September 2009.
The purpose of this article is to research which other country, if any, may also follow the U.S. strategy; and why using the theory of Trade Equilibrium would be a better approach instead

At A Crossroads: The Impact Of International Financial Reporting Standards In The U.S., Cindy K. Harris

Business and Economics Faculty Publications

Public companies in the United States face a new challenge. As set forth in its roadmap for implementation, the Securities and Exchange Commission (“SEC”) is considering the potential use of financial statements prepared in accordance with international financial reporting standards (“IFRS”.) The chief goal of these global standards is to establish a uniform system to improve comparability of companies’ financial positions. For decades, Generally Accepted Accounting Principles (“GAAP”) have been the framework of financial statement preparation for public companies in the U.S. The movement to IFRS represents an unprecedented change in the basis of financial reporting, since IFRS would supersede …

Valuating Brand Equity And Product Related Attributes In The Context Of The German Automobile Market, Marc Fetscherin, Mark Toncar

Faculty Publications

The concept of consumer-based brand equity has been discussed widely in the literature and there are a wide variety of both quantitative and qualitative measures used to assess it. For the most part, previous research has studied the way a brand and product attributes are perceived in a consumer’s mind and the empirical data used in most studies is based on self-reported survey data. In this research, objective data from the largest German Automobile Association, including actual prices, objective quality ratings of product attributes and market share of brands are used to estimate their effect on the actual price set …

Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Ostrup, Lars Oxelheim, Clas Wihlborg

Business Faculty Articles and Research

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with …

Spanning Policy Silos In Urban Development And Environmental Management: When Global Cities Are Coastal Cities Too, Herman L. Boschken

Faculty Publications, School of Management

No abstract provided.

Trade Equilibrium, Jobs, & Stimulus, Narendra C. Bhandari

Faculty Working Papers

As long as the U.S. continues to have huge trade deficits, the American jobs would continue to be off-shored and no net new jobs can be created. Spending billions of American stimulus dollars would end up stimulating foreign economies. It would be like taking wealth from the American workers and giving it to their foreign counterpart.

Traditional techniques such as tax cuts for the rich (fiscal policies), lower interest rates (monetary policies), and “buy American” (patriotic appeals) have failed to solve the problems.

In order to spur its economy and jobs, the U.S. “must” adopt, as its “mission,” bringing parity …

The Role Of The Middle Manager In The Strategy Development Process Of The Multinational Subsidiary, Donal O'Brien, Pamela Sharkey Scott

Conference Papers

As multinational corporations (MNC) strive for long term competitiveness in complex business environments the Strategic Development Process has emerged as a potential source of competitive advantage (Grant, 2003). Despite this recognition there is limited knowledge of the strategy development process and the contributors to strategy development at the subsidiary level of the MNC. The essence of strategy development is contributing to competitive advantage through management activities (Papadakis et al, 1998), but much of the focus of research up to this point has been on the strategic relationship between subsidiary top management and corporate headquarters with little attention being paid to …

Effects Of International Institutional Factors On Earnings Quality Of Banks, Chee Yeow Lim, Gerald Lobo, Kanagaretnam Kiridaran

Research Collection School Of Accountancy

No abstract provided.

Are Credit Unions In Ecuador Achieving Economies Of Scale?, Nick A. Marchio

Economics Honors Projects

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when membership grows too diffuse. To address this issue, this study uses a model that takes into account existing theory on constrained-optimization in credit unions and theory on the adverse effects of diffuse ownership. Using data on 36 public credit unions in Ecuador, the empirical analysis finds evidence that credit unions can achieve economies of scale despite their problematic structural features. …

A Re-Examination Of China's Share Issue Privatization, Guohua Jiang, Heng Yue, Longkai Zhao

Research Collection School Of Accountancy

Previous studies show that in contrast to evidence that share issue privatization (SIP) in most other countries have improved firm profitability, China's SIP of the 1990s had no such effect. We argue that the main reason for the failure of China's SIP is likely to have been the weak institutional environment in place at that time. We examine China's SIP in a more recent period in which the institutional environment was greatly improved. Using a matching sample method, we find that SIP firms continued to experience negative post-SIP profitability changes in our sample period. However, their performance decline was significantly …

Effects Of Country-Level Legal, Extra-Legal And Political Institutions On Auditing: A Cross-Country Analysis Of The Auditor Specialization Premium, Bin Sirinidhi, Chee Yeow Lim, Mahmud Hossain

Research Collection School Of Accountancy

In this cross-country study of the specialist auditor premium, which spans the US and 12 other countries, we provide evidence that country-level institutional strength increases average audit fees, but reduces the incremental demand for specialist auditors. This finding supports the hypothesis that strong institutions and the demand for specialist knowledge act as substitutes in providing the requisite assurance of financial statements.

Exporting Expertise: Singapore’S Gambits In The Middle East, Caroline Yeoh, Wilfred Pow Ngee How

Research Collection Lee Kong Chian School Of Business

Singapore’s regionalization stratagem points increasingly towards the influence of both the sociopolitical environment and the economics of competition, in a business environment with an ever-growing number of competitors; to the extent that other forces, particularly political ones, are often sidelined. A more in-depth study of the above two influences is best performed in a context comparatively free of the implicit complex political facets but with sufficiently rich environments to challenge internationalizing firms, and distinct influences to draw pertinent conclusions from. For this purpose, the continually expanding business environments and the unique cultures of the Middle East provide the perfect context …

The Impact Of Westernization On Tongan Cultural Values Related To Business, Lucas Nelson Ross

Masters Theses & Specialist Projects

This study examined the impact of Westernization on Tongan cultural values (Collectivism I, Collectivism II, Power Distance, Future Orientation, and Uncertainty Avoidance) related to business. A Tongan version of the Project GLOBE Beta Questionnaire measuring cultural dimensions at the societal level was completed by 222 Tongans from the island groups of Vava’u, Ha’apai, and Niuatoputapu. One-way ANOVA and planned comparison results indicated significant differences for Collectivism II and Uncertainty Avoidance. Scores from Vava’u showed significantly less Collectivism II than Ha’apai, but not Niuatoputapu. Furthermore, scores from Vava’u showed significantly less Uncertainty Avoidance than Ha’apai and Niuatoputapu. No significant differences were …

Motivations For Us Foreign Direct Investment, Christina Buoninfante

Honors College Theses

The purpose of this thesis is to determine US firms’ motivations for foreign direct investment and to explore to what extent US firms continue to invest into China and India. I first correlate the agricultural, industrial, and service sectors in the United States with those of China and India. I find that there is a positive relationship between the correlation of US sectors and the host country’s sectors and foreign direct investment into each sector. This supports the theory of Vernon’s product life cycle hypothesis, which explains that firms expand into lesser developed countries when their product becomes more sensitive …

Is There Country-Of-Origin Bias In The Video Game Market?, Keaton C. White

Economics Honors Projects

This paper tests for the existence of country-of-origin bias in the video game market. Using aggregate sales data from Japan and the US, I measure the effect of country-of-origin on video game sales in each respective country while controlling for genre, system, quality, and target age group, as well as domestically targeted games and superstar effects. I find that a significant country-of-origin bias exists in both game markets in favor of domestic titles.

Interest Rate Convergence In The Euro-Candidate Countries: Volatility Dynamics Of Sovereign Bond Yields, Hubert Gabrisch, Lucjan Orlowski

WCBT Working Papers

We advocate a dynamic approach to monetary convergence to a common currency that is based on the analysis of financial system stability. Accordingly, we test empirically volatility dynamics of the ten-year sovereign bond yields of the 2004 EU accession countries in relation to the eurozone yields during the January 2, 2001- January 22, 2009 sample period. Our results show a varied degree of bond yield co-movements, the most pronounced for the Czech Republic, Slovenia and Poland, and weaker for Hungary and Slovakia. However, since the EU accession, we find some divergence of relative bond yields. We argue that a ‘static’ …

Going Global: Factors Influencing U.S.-Based Smes’ International Market Access, Jayati Ghosh, Denise Lucy, Françoise Lepage

Collected Faculty and Staff Scholarship

Globalization promotes vast business opportunities for trade, flow of capital, ideas, and people. In order to integrate into the global economy, countries tend to promote policies, which in turn, help to remove barriers to the flow of investment, goods, and services. While there is ample information describing how multinational corporations have benefited from globalization through greater access to international markets and investment, there is a need to identify ways to unburden small to medium-sized enterprises so that they can reach their potential in the global economy. Barriers vary across business sectors. However, there are fundamental impediments that prevail, in general. …

The Impact Of Terrorism On Business, Michael D. Larobina, Richard L. Pate

WCBT Faculty Publications

Terrorism has in one form or another been a part of society throughout history. Since the September 11, 2001 attacks in New York, the world community has been more focused on terrorism than ever before in most recent modern history. Terrorism has impacted multiple levels of society across the world community. One of those levels is the business environment. A specific aim of terrorism is to disrupt and destroy ongoing businesses. Therefore, the ability of governments to disrupt and destroy terrorism is essential to the continued growth and expansion of the world economy. Terrorism will directly impact a country's ability …

The Injustice Of Justice: The Pursuit Of A Harmonious, Just, And Merciful World, Robert W. Boyle

Pell Scholars and Senior Theses

There is no one universal definition of Justice. Such a limited view of right and wrong conflicts with our infinitely diverse world. The key to a harmonious global community is that justice is malleable and fluid, similar to water, where it can take the shape of its environment while still retaining the properties of fundamental rights. Our world will never come to a universal agreement on justice, due to the deeply embedded cultural beliefs and differing views, so a single understanding of justice is impossible. If the world can have a baseline understanding of right and wrong and the flexibility …

Guanxi Versus Networking: Distinctive Configurations Of Affect- And Cognition-Based Trust In The Networks Of Chinese And American Managers, Roy Y. J. Chua, Michael W. Morris, Paul Ingram

Research Collection Lee Kong Chian School Of Business

This research investigates hypotheses about differences between Chinese and American managers in the configuration of trusting relationships within their professional networks. Consistent with hypotheses about Chinese familial collectivism, an egocentric network survey found that affect- and cognition-based trust were more intertwined for Chinese than for American managers. In addition, the effect of economic exchange on affect-based trust was more positive for Chinese than for Americans, whereas the effect of friendship was more positive for Americans than for Chinese. Finally, the extent to which a given relationship was highly embedded in ties to third parties increased cognition-based trust for Chinese but …

The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang

Research Collection School Of Economics

This paper attempts to study the usage of the GATT/WTO dispute settlement mechanism and to explain its patterns across different regimes and decades, using a unified theoretical model. This study first explores the role of the degree of legal controversy over a panel ruling in determining countries’ incentives to block/appeal a panel report under the GATT/WTO regime. The model is able to explain the surge in blocking incidence during the 1980s over the preceding GATT years and the immense frequency at which the new appellate procedure under the WTO is invoked. Furthermore, a two-sided asymmetric information framework is used to …

Futility Of Stimulus Funds In The Middle Of Huge Trade Deficits, Narendra C. Bhandari

Faculty Working Papers

The U. S. is facing an unprecedented environment of increasing unemployment, declining income, disappearing middleclass, and mounting trade deficit (about $731 billion in 2007). The government is providing stimulus funds to a selected number of organizations to help solve these problems.

However, as long as the country continues to have huge trade deficits, these stimulus efforts may not help much, if at all. They may even worsen the economic situation. This could happen if the banking, insurance, construction, transportation, and other companies—receiving the stimulus funds—would offshore part of their production activities. Several American firms send certain number of jobs abroad …

Borderless Bits: Electronic Globalization And Its Social Consequences, Nikhilesh Dholakia

College of Business Faculty Publications

Globalization of services with the aid of electronic technologies - popularly called outsourcing or offshoring - has been accelerating. In this paper, the factors that drive electronic globalization - as distinct from factors that drive the general process of globalization - are discussed briefly. A simple model of a 2-firm USA-India dyad engaged in outsourcing relationships is presented to outline the economic basis for electronic globalization. By introducing wider political and cultural forces, progressively more complex views of the electronic globalization phenomenon are presented. Finally, the interplays of the economic, political, and cultural forces are explored to arrive at a …

Trust-Driven Joint Operations Practices To Achieve Mass Customization: A Comparative Study For U.S., Chinese And Japanese Companies, Kun Liao, Thomas W. Sharkey, Mark A. Vonderembse, T. S. Ragu-Nathan

All Faculty Scholarship for the College of Business

This study builds a model of trust, based on joint operational activities and mass customization using theories of social capital and the resource-based view of the firm. Based on 208 responses from suppliers in the U.S. and China, this study empirically supports the notion that trust positively drives manufacturer-supplier activities in operations. It also supports the claim that joint operations activities contribute to mass customization capabilities in a significant way. Moreover, the level of trust and the degree of joint activities are different for the four types of suppliers used in the study: U.S. brands produced in North America, Japanese …

Corporate Brand Management In Higher Education: The Case Of Erau, Tamilla Curtis, Russell Abratt, William Minor

Management, Marketing and Operations - Daytona Beach

There is evidence in the literature that organizations struggle to formulate and implement their corporate branding strategies. This paper aims to provide an overview of the corporate brand building process in higher education. Design/methodology/approach – A qualitative methodology was used in this study. A single case study of a private American university was used to gather information about their corporate brand building process. University administrators and documents were used to gain insights into their brand building process. Findings – The corporate brand building process addressed three key areas; web administration, program marketing and corporate brand positioning. The corporate brand building …

An Analysis Of The Intra-Regional Trade In The Middle East And North Africa Region, E. M. Ekanayake, John R. Ledgerwood

Publications

This paper analyzes the intra-regional trade and investment flows in the Middle East and North Africa (MENA) region using an augmented gravity model applied to panel data. The study uses annual trade and investment data for the period 1980-2006. There is a growing awareness among countries in the MENA region regarding the importance of international trade and foreign direct investment for stimulating growth and integrating into the world economy. The research will attempt to achieve the following objectives: (a) analyze the intra-regional trade and investment flows in the MENA region; (b) identify the major determinants of trade and investment flows …

Venture Capitalists As Catalysts To New Venture Internationalization: The Impact Of Their Knowledge And Reputation Resources, Stephanie A. Fernhaber, Patricia P. Mcdougall-Covin

Scholarship and Professional Work - Business

Venture Capitalists (VC) play an important role in influencing the strategic direction of the firms in which they invest. The findings of this study reveal that VCs can serve as a catalyst to new venture internationalization through the provision of knowledge and reputation resources. Furthermore, the international knowledge of a VC is more positively related to new venture internationalization when the VC is also reputable.