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Sacred Heart University

2017

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Articles 1 - 23 of 23

Full-Text Articles in Business

Evaluating Volatility Forecasts In Various Equity Market Regimes, John P. Felletter Oct 2017

Evaluating Volatility Forecasts In Various Equity Market Regimes, John P. Felletter

Doctoral Dissertations (DBA)

Forecasting volatility is a critical component of asset allocation, risk management, and option pricing. Many different methods and models are used to predict volatility, and many studies have examined the efficacy of one method or another. This study investigates whether the abilities of historical volatility, GARCH models, and VIX to forecast volatility vary in different market conditions, as distinguished by levels of volatility and returns. It is found that market conditions do impact the abilities of the variables to forecast volatility. Overall, the forecasts implied by the GARCH models perform best according to the various metrics, while the VIX forecast …


Air Pollution And Life Expectancy, Zoë Kelly Oct 2017

Air Pollution And Life Expectancy, Zoë Kelly

Sacred Heart University Scholar

This article explores the effect of air pollution on life expectancy. While prior studies heavily supported the link between long-term exposure to air pollution and harmful effects on health, most are based on single-country data. The objective of this article is to fill the gap in the literature by conducting a cross-country analysis. It evaluates the effect of average air pollution on life expectancy across 111 countries between 2010 and 2015. The additional country-specific control variables that are used include GDP (Gross Domestic Product) per capita, percentage of people with access to water, population density, health care expenditure (in terms …


The Introduction Of Virtual Reality To Education: Should The Marketing Discipline Engage?, Enda Mcgovern Oct 2017

The Introduction Of Virtual Reality To Education: Should The Marketing Discipline Engage?, Enda Mcgovern

WCBT Faculty Publications

This position paper explores whether faculty should embrace the use of virtual reality as a medium of academic engagement with the future intake of digital native students. In recent years there has been a tremendous surge in the use of digital device platforms to extend the reach of education to the wider student populations. As a result, the positive engagement by students of multimedia objects, including video, sound clips and data in a more integrated, multi-sensory digital medium has gained significant traction in the learning environment. Students are moving faster into this digital space and it is not long before …


Why We Should Have Seen That Coming: Comments On Microsoft’S Tay “Experiment,” And Wider Implications, K. W. Miller, Marty J. Wolf, Frances S. Grodzinsky Oct 2017

Why We Should Have Seen That Coming: Comments On Microsoft’S Tay “Experiment,” And Wider Implications, K. W. Miller, Marty J. Wolf, Frances S. Grodzinsky

School of Computer Science & Engineering Faculty Publications

In this paper we examine the case of Tay, the Microsoft AI chatbot that was launched in March, 2016. After less than 24 hours, Microsoft shut down the experiment because the chatbot was generating tweets that were judged to be inappropriate since they included racist, sexist, and anti-Semitic language. We contend that the case of Tay illustrates a problem with the very nature of learning software (LS is a term that describes any software that changes its program in response to its interactions) that interacts directly with the public, and the developer’s role and responsibility associated with it. We make …


Effects Of The Basel Iii Liquidity Risk Metrics On U.S. Bank Performance And Stability, Cecelia Mundt Aug 2017

Effects Of The Basel Iii Liquidity Risk Metrics On U.S. Bank Performance And Stability, Cecelia Mundt

Doctoral Dissertations (DBA)

This paper investigates the effects of Basel III’s liquidity metrics on profitability and stability on a subset of U.S banks from 2002 to 2014. The profitability and stability of each of these banks were calculated under the scenario of shifting 1% of its overall assets from illiquid to liquid. The empirical findings demonstrate a negative relationship between holding higher liquidity and bank profitability. It finds that this negative relationship is disproportionate across the bank classes with savings banks losing profitability at almost twice the rate as national banks. Additionally, stability of savings banks is more adversely affected than of national …


Estimating The Cost Of Equity In Emerging Markets: A Case Study, Benoit Boyer, Ralph Lim, Bridget M. Lyons Jun 2017

Estimating The Cost Of Equity In Emerging Markets: A Case Study, Benoit Boyer, Ralph Lim, Bridget M. Lyons

WCBT Faculty Publications

A firm's weighted average cost of capital is an integral component in capital budgeting decisions and in assessment of the firm's enterprise and equity value. Estimation of the cost of equity is a key component in determining the overall cost of capital. The calculation of the cost of equity for U.S. based corporations is relatively straightforward and is most often estimated as a function of the U.S. risk-free rate, the firm's beta value, and an estimate of the average risk premium associated with equity investments compared to risk free assets. Since U.S. financial markets are fairly liquid and reasonably efficient, …


To Be Or Not To Be An Ethnic Firm: An Analysis Of Identity Strategies In Immigrant-Owned Organizations, Diya Das, Eileen Kwesiga, Shruti R. Sardeshmukh, Norma Juma May 2017

To Be Or Not To Be An Ethnic Firm: An Analysis Of Identity Strategies In Immigrant-Owned Organizations, Diya Das, Eileen Kwesiga, Shruti R. Sardeshmukh, Norma Juma

New England Journal of Entrepreneurship

In this article, we develop a theoretical framework that draws on the concepts of liability of foreignness and social identity theory in the context of immigrant entrepreneurship.


Just A Lemonade Stand: An Introduction To Student Entrepreneurship, Alka Gupta, Vishal K. Gupta May 2017

Just A Lemonade Stand: An Introduction To Student Entrepreneurship, Alka Gupta, Vishal K. Gupta

New England Journal of Entrepreneurship

In this article, we define the concept of student entrepreneurship, delineate its domain, and demarcate its boundaries. We propose a preliminary typology of student entrepreneurship rooted in the works of three leading economists from the Austrian School of Economics


The Role Of Trust In Social Entrepreneurship: A Case Study Of Global Brigades, Laura Tack, Mark Simon, Ruihua Joy Jiang May 2017

The Role Of Trust In Social Entrepreneurship: A Case Study Of Global Brigades, Laura Tack, Mark Simon, Ruihua Joy Jiang

New England Journal of Entrepreneurship

This article aims to begin filling this gap by utilizing a specific social entrepreneurship initiative to illustrate the role of trust in social entrepreneurship efforts.


New England Journal Of Entrepreneurship, Spring/Summer 2017 May 2017

New England Journal Of Entrepreneurship, Spring/Summer 2017

New England Journal of Entrepreneurship

No abstract provided.


The Effect Of Government Involvement On Chinese Firms' Corporate Entrepreneurial Activities: The Case Of Chinese Automobile Industry, Chun (Grace) Guo, Crystal X. Jiang, Qin Yang May 2017

The Effect Of Government Involvement On Chinese Firms' Corporate Entrepreneurial Activities: The Case Of Chinese Automobile Industry, Chun (Grace) Guo, Crystal X. Jiang, Qin Yang

New England Journal of Entrepreneurship

To fully understand corporate entrepreneurship (CE) of emerging markets, we propose a stage model to explore specific roles governments play that affect CE activities over time.


Essays In Financial Economics, Johnson Owusu-Amoako Apr 2017

Essays In Financial Economics, Johnson Owusu-Amoako

Doctoral Dissertations (DBA)

In this study, we empirically investigate the impact of credit default swap rates on short-term interest rates. We find that CDS rates significantly impact short-term interest rates. The impact remains significant after controlling for inflation and unemployment. Applying co-integration test and vector error correction modeling, the study also finds a causal relationship between CDS rates and short-term interest rates. These relationships are confirmed through autoregressive conditional heteroscedasticity (ARCH), exponential generalized ARCH [EGARCH] and vector auto-regression (VAR) analyses. The empirical results have important implications in setting short-term interest rates. A regular revision of policy targeting to capture the continual changes in …


Wavering Interactions Between Commodity Futures Prices And Usd Exchange Rates, Monika Sywak Apr 2017

Wavering Interactions Between Commodity Futures Prices And Usd Exchange Rates, Monika Sywak

Doctoral Dissertations (DBA)

This paper examines the intricate impact of commodity futures prices on US dollar exchange rates. The daily data on returns on futures and on USD are tested with Bayesian VAR, multiple breakpoint regression and two-state Markov switching. The tested commodity futures include West Texas Intermediate and Brent crude oil, as well as copper and gold. The tests imply that changes in commodity returns inversely affect USD exchange rates. This relationship is not uniform across the tested commodity futures and is affected by market risk. The relationships between crude oil futures prices and USD exchange rates are normally negative but they …


Vix And Market-Implied Inflation Expectations, Carolyne Cebrian Soper Apr 2017

Vix And Market-Implied Inflation Expectations, Carolyne Cebrian Soper

Doctoral Dissertations (DBA)

Our study shows that market-implied inflation expectations proxied by the breakeven inflation are directly related to market risk in high inflation environments and inversely during the periods of declining inflation or deflationary expectations. We use daily data series of percent changes in VIX as a proxy of market risk and changes in 5-year and 10-year breakeven inflation reflecting expectations of bond market participants. We employ Bayesian VAR, multiple breakpoint and Markov switching tests to examine the functional relationship between VIX and breakeven inflation for the January 3, 2003 – April 5, 2016 sample period. Our tests indicate a significant inverse …


Centers Of Excellence: Management Within Multinational Corporations, Thomas Coughlan, Gary Bernstein Apr 2017

Centers Of Excellence: Management Within Multinational Corporations, Thomas Coughlan, Gary Bernstein

WCBT Faculty Publications

As organizations expand geographically, and especially when expanding globally, they often find it necessary, or more effective, to develop Centers of Excellence (CoE). If properly structured these centers can reduce cost, improve efficiency, leverage organizational assets, and often improve levels of organizational innovation. This is the next installment in a series of articles started in the first issues of the JMI exploring these very challenging issues (Coughlan & Bernstein, 2015). In this installment the authors will specifically address issues surrounding leadership, integrated governance model, standardization, continuous improvement, business continuity, and managing through hard target metrics. This article assumes that the …


Whole Foods Case Analysis, Michael Lenard (Class Of 2017) Jan 2017

Whole Foods Case Analysis, Michael Lenard (Class Of 2017)

Writing Across the Curriculum

Since its debut in 1980, Whole Foods Market has been a pioneer in the natural and organic food industry, and with America’s rising interest in these healthy, alternative products, the company found itself experiencing many years of success and growth throughout the 20th century. As the demand for natural foods has grown more rapidly over the last fifteen years, Whole Foods has paradoxically experienced a plateau in its success.


Relating Cultural Values With Opportunity Evaluation: Evidence From India, Banu Goktan, Alka Gupta, Subhendu Mukherjee, Vishal K. Gupta Jan 2017

Relating Cultural Values With Opportunity Evaluation: Evidence From India, Banu Goktan, Alka Gupta, Subhendu Mukherjee, Vishal K. Gupta

New England Journal of Entrepreneurship

The link between social interaction and entrepreneurial activity has attracted considerable attention in the entrepreneurship literature. In this study, we focus on individual cultural values, shaped by interactions in the social space, as they relate to opportunity evaluation, a cornerstone of the entrepreneurial process. We test our predictions in India, a non-Western society that has sustained one of the highest rates of entrepreneurial activity in the world. Our findings suggest that value orientation of high power distance is negatively associated with opportunity evaluation whereas uncertainty avoidance, collectivism, and femininity are positively associated with opportunity evaluation.


Doing Well And Good: An Exploration Of The Role Of Mindfulness In The Entrepreneurial Opportunity Recognition And Evaluation Process, Louise Kelly, Marina Dorian Jan 2017

Doing Well And Good: An Exploration Of The Role Of Mindfulness In The Entrepreneurial Opportunity Recognition And Evaluation Process, Louise Kelly, Marina Dorian

New England Journal of Entrepreneurship

The purpose of this conceptual paper is to integrate two previously disparate areas of research: mindfulness and the entrepreneurial process. This present study conceptualizes the impact of mindfulness on the choices entrepreneurs face. Specifically, the research theorizes the positive effects of mindfulness on the opportunity recognition process, including evaluation of entrepreneurs. Furthermore, we propose that metacognition mediates this relationship, and emotional self-regulation moderates it. This conceptual research also suggests that mindfulness is positively related to the ethical decision-making and opportunity recognition and evaluation. Finally, compassion is proposed as a factor that mediates the relationship between mindfulness and ethical choices in …


Catalyzing Social Innovation: Leveraging Compassion And Open Strategy In Social Entrepreneurship, Thomas Pittz, Laura T. Madden, David Mayo Jan 2017

Catalyzing Social Innovation: Leveraging Compassion And Open Strategy In Social Entrepreneurship, Thomas Pittz, Laura T. Madden, David Mayo

New England Journal of Entrepreneurship

We implement an inductive, case study approach to explore the motivations and methods of five successful social entrepreneurs. Our findings show that founders noticed, felt, and responded to someone else’s pain, demonstrating compassion as the genesis of the business venture. Successful social innovation, however, was the result of the creation of an organization structured to include diverse stakeholder input and participation in the decision-making process. Thus, compassion motivates entrepreneurs to pursue broad gains as opposed to singular interests and enhances a willingness to incorporate others’ ideas through an open-strategy process. Our study suggests that interaction with stakeholders can impact the …


New England Journal Of Entrepreneurship, Fall/Winter 2017 Jan 2017

New England Journal Of Entrepreneurship, Fall/Winter 2017

New England Journal of Entrepreneurship

No abstract provided.


Feasibility Analysis For The New Venture Nonprofit Enterprise, Gregory R. Berry Jan 2017

Feasibility Analysis For The New Venture Nonprofit Enterprise, Gregory R. Berry

New England Journal of Entrepreneurship

This article explores the value of feasibility analysis for the pre-launch nonprofit enterprise. Similarities and differences between for-profit entrepreneurial ventures and nonprofit entrepreneurial ventures are outlined, and then the traditional format of feasibility analysis used by the entrepreneurial for-profit start-up is reviewed and analyzed. This four-stage analysis is then adapted to the needs of the nonprofit new venture enterprise. The benefits of doing a feasibility analysis for the nonprofit enterprise start-up are identified, and guidelines are suggested. An underpopulated research stream is identified and explained in this article for the start-up and early developmental phases of the nonprofit enterprise.


Restatement Vs Revision: A Case Study, Benoit Boyer, Danny A. Pannese, Alan L. Delfavero Jan 2017

Restatement Vs Revision: A Case Study, Benoit Boyer, Danny A. Pannese, Alan L. Delfavero

WCBT Faculty Publications

There had been many recent cases of restatements of financial statements by US Corporations. Recently an article in the Wall Street Journal mentioned restatements by Bank of America, Nike and Alphabet among the 663 companies that filed financial revisions or restatements last year. Interestingly the frequency of these errors has more than doubled since 2002, when the Sarbanes-Oxley corporate governance law was enacted, partly to increase managerial accountability. We will also examine what are the differences between restatements and revisions. We will examine what are the most common mistakes. Over half of last year's corrections involved debt and equity, cash …


End Of The Road : Why The Istanbul F1 Grand Prix Came To A Screeching Halt, Cem Tinaz, Douglas Michele Turco, James Santomier Jan 2017

End Of The Road : Why The Istanbul F1 Grand Prix Came To A Screeching Halt, Cem Tinaz, Douglas Michele Turco, James Santomier

WCBT Faculty Publications

This case explores the series of strategic decisions by event organisers and Formula One Management that ultimately drove Formula One's Istanbul Grand Prix to a dead end. The Istanbul Grand Prix required high levels of subsidy from the Turkish government and private investors, yet ended before realizing the expected goals. Findings reveal several factors that contributed to the discontinuation of Istanbul's Formula One Grand Prix, including a misunderstanding of the Turkish market, high costs, low spectator interest, and increased competition from other cities. The case provides a model that other cities considering hosting a major international motorsport event should consider.