Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Keyword
-
- ARCH (1)
- Ability (1)
- Asymmetric GARCH (1)
- Bangladesh (1)
- Banking sector reforms (1)
-
- Bitcoin (1)
- Business cycles (1)
- CEO Compensation (1)
- CFA Zone (1)
- Capital markets (1)
- Collective bargaining agreements (1)
- Contract negotiations (1)
- Cryptocurrency (1)
- Developing countries (1)
- ETF (1)
- Economic Analysis (1)
- Effort (1)
- Emerging market banking (1)
- Emerging markets (1)
- Exchange Traded Funds (1)
- Federal Reserve (1)
- Finance (1)
- Food Security (1)
- Food imports (1)
- Forecasting (1)
- Free agency (1)
- Future (1)
- GARCH (1)
- Hitters (1)
- Incentive (1)
- Publication
- Publication Type
Articles 1 - 10 of 10
Full-Text Articles in Business
Macroeconomic Fluctuations As Sources Of Luck In Ceo Compensation, Hsin-Hui Chiu, Lars Oxelheim, Clas Wihlborg, Jianhua Zhang
Macroeconomic Fluctuations As Sources Of Luck In Ceo Compensation, Hsin-Hui Chiu, Lars Oxelheim, Clas Wihlborg, Jianhua Zhang
Business Faculty Articles and Research
Macroeconomic fluctuations in interest rates, exchange rates, and inflation can be considered sources of good or bad “luck” for corporate performance if management is unable to adjust operations to these fluctuations. Based on a sample of 2,091 US firms, we decompose the impacts of macroeconomic fluctuations on three measures of CEO compensation. Our study provides empirical support for the importance of considering macroeconomic fluctuations in designing CEO incentive schemes. It adds to the managerial power literature on moral hazard and CEO compensation by pinpointing the obvious risk that the CEO in an asymmetric and non-linear reward system will be inclined …
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala
Undergraduate Economic Review
This paper analyzes the effects of quantitative easing (QE) on the capital markets by modeling exchange traded funds (ETFs) returns using a generalized autoregressive conditional heteroskedasticity (GARCH) methodology. The results show that the 10-Year Treasury yields are significant in the returns of some sectors of the economy more so than others, and the Federal Funds Futures trading volume is significant in all ETFs return volatility. The implications of these results not only provide information about the reaction of the ETF market and QE, but also provide insight for developing investment strategies.
Do Hitters Boost Their Performance During Their Contract Years?, Heather M. O'Neill
Do Hitters Boost Their Performance During Their Contract Years?, Heather M. O'Neill
Business and Economics Faculty Publications
Each season, baseball fans and journalists alike identify which players are in the final years of their contracts because a lot rides on how the players produce in their “contract year.” Will a player boost his effort and performance in an effort to improve his value and bargaining power? Or will he crumble under the pressure? Or are players’ performances uncorrelated with where they stand in their contract cycles?
Resolution Of Bad Loan Problem: Bank-Level Evidence From A Low-Income Country, Abu S. Amin, Lucy Chernykh, Mahmood Osman Imam
Resolution Of Bad Loan Problem: Bank-Level Evidence From A Low-Income Country, Abu S. Amin, Lucy Chernykh, Mahmood Osman Imam
WCBT Faculty Publications
How do banks resolve a severe bad loan problem in a capital-constrained, low income country when a government bailout is not an option? We address this question by examining new evidence of a sharp decline in bad loan ratios in a panel of domestic banks in Bangladesh. On the aggregate level, the share of nonperforming loans in this market has dropped six fold, from above 41% in 1999 to below 7% in 2010. Notably, this dramatic improvement did not involve the creation of any centralized asset management facilities but relied on the bank management and governance reforms. We find that …
Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main
Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main
Robert S. Main
Pigovian taxes on polluters are politically unpopular, but subsidies for non-polluting sources are politically attractive. This paper presents a linear demand and supply model and numerical example to explore the trade-offs between taxing polluting sources of a good versus subsidizing non-polluting sources of the same good. While the model (along with the associated numerical example) shows the optimality of Pigovian taxes, it also shows how much welfare is reduced if subsidies for nonpolluters are employed instead. Further, it shows the optimal tax, given any level of subsidy and the optimal subsidy, given any level of tax.
The Future Of Bitcoin: Mapping The Global Adoption Of World’S Largest Cryptocurrency Through Benefit Analysis, James K. Darlington Iii
The Future Of Bitcoin: Mapping The Global Adoption Of World’S Largest Cryptocurrency Through Benefit Analysis, James K. Darlington Iii
Chancellor’s Honors Program Projects
No abstract provided.
Macroeconomic Variables Effect On Us Market Volatility Using Mc-Garch Model, Jang Hyung Cho, Ahmed Elshahat
Macroeconomic Variables Effect On Us Market Volatility Using Mc-Garch Model, Jang Hyung Cho, Ahmed Elshahat
Faculty Publications
Forecasting equity volatility was thoroughly investigated during the past three decades. The majority based their forecasts on the dynamics of the underlying equity time series. They helped better understand the dynamics of these time series and understand different aspects of volatility. Other models went a step further to include the effect of news announcement on equity volatility. The vast majority ignored the effect of macroeconomic variable or the state of the economy. This paper proposes a volatility-forecasting model that accounts for effect of fundamental macroeconomic variables that reflect the state of the economy. The explanatory variables used measure the stage …
Food Imports Under Foreign Exchange Constraints In The Cfa’S Franc Zone Of Sub-Saharan Africa (Ssa), Seydina Ousmane Sene
Food Imports Under Foreign Exchange Constraints In The Cfa’S Franc Zone Of Sub-Saharan Africa (Ssa), Seydina Ousmane Sene
Theses and Dissertations--Agricultural Economics
To respond to the high imported food prices in their domestic markets, net food importing countries in the Communauté Financière Africaine (CFA) zone[1] are adjusting their import tariffs and homologate domestic prices of imported commodities such as rice, wheat, maize, and sugar. This research uses a multivariate specification of error correction model (VECM) of estimation to investigate the link between food imports, world price index of rice, wheat, maize and sugar, real effective exchange rates, domestic food production, GDP, and trade openness in the short and long run. The data are on each homogenous commodity from 1969 to 2012. …
Mergers & Abenomics: The Determinants Of M&A In Japan's New Economy, Ethan S. Hallberg
Mergers & Abenomics: The Determinants Of M&A In Japan's New Economy, Ethan S. Hallberg
CMC Senior Theses
This paper investigates the influence of various macroeconomic variables on Japan’s merger and acquisition (M&A) activity, both in terms of total deal value and total number of deals. Looking at monthly data from June 1997 to December 2013, I use econometric time-series analysis to find that: First, total deal value per month is not well explained by our macroeconomic variables, but about half of the variation in number of deals per month can be explained by our dataset. Second, the most important determinant in the total number of deals per month during our period is the level of national debt, …
Does U.S. Macroeconomic News Make Emerging Financial Markets Riskier?, Esin Cakan, Nadia Doytch, Kamal P. Upadhyaya
Does U.S. Macroeconomic News Make Emerging Financial Markets Riskier?, Esin Cakan, Nadia Doytch, Kamal P. Upadhyaya
Publications and Research
This study analyzes the impacts of US macroeconomic announcement surprises on the volatility of twelve emerging stock markets by employing asymmetric GJR-GARCH model. The model includes both positive and negative surprises about inflation and unemployment rate announcements in the U.S. We find that volatility shocks are persistent and asymmetric. Asymmetric volatility increases with bad news on US inflation in five out of the twelve countries studied and it increases with a bad news on U.S. unemployment in four out of twelve countries. Asymmetric volatility decreases with good news about US employment situation in eight countries out of twelve countries. Such …