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Idiosyncratic Volatility And Interruption Mechanisms In South Korean Stock Markets, Seungho Shin
Idiosyncratic Volatility And Interruption Mechanisms In South Korean Stock Markets, Seungho Shin
University of New Orleans Theses and Dissertations
The purpose of this study is to examine how the volatility interruption mechanisms affect idiosyncratic volatilities in Korean stock markets. Collecting the South Korea Stock Market (KOSPI) data from June 15, 2015 to March 31, 2019, we collect each residual„ from three different estimated models: CAPM, FF3, and FF5. To estimate the conditional idiosyncratic volatility, we employ two conditional time-varying measurements: GARCH and TGARCH. Our results show that the conditional idiosyncratic volatility increases when stock prices reach the upper and lower static limits, indicating the implementation of adopting static VI mechanism neither stabilize market conditions nor reduce excess volatility along …
Catalysts And Impediments To Tax Increment Finance In Tulsa’S Historical African American Neighborhood, Bria A. Dixon
Catalysts And Impediments To Tax Increment Finance In Tulsa’S Historical African American Neighborhood, Bria A. Dixon
University of New Orleans Theses and Dissertations
This thesis assesses how Tulsa, Oklahoma grew to utilize tax increment financing (TIF) to produce economic activity in Tulsa’s historic downtown area. Specifically, how the creation, history, and maintenance of ONEOK Field, a $60 million, 6,000-seat sports venue in Tulsa’s historically African American neighborhood became the catalyst for Tulsa’s current TIF policy. In examining the fiscal outcomes of ONEOK Field, this thesis finds implications for inequitable investment in and around Tulsa’s Greenwood TIF district
Incomplete Markets And Financial Innovation: Consequences For Risk-Sharing, Household Welfare, And Portfolio Choice, Nicolas Duvernois
Incomplete Markets And Financial Innovation: Consequences For Risk-Sharing, Household Welfare, And Portfolio Choice, Nicolas Duvernois
University of New Orleans Theses and Dissertations
The dissertation consists of three chapters measuring the degree of risk-sharing in a panel of US households, and its impact on welfare and portfolio choice. Conventional wisdom suggests financial innovation improves risk-sharing by completing markets and lowering transaction costs--households engage in risk-sharing to insure against idiosyncratic income shocks to improve their own welfare. In the first chapter, using household level income and imputed consumption data, I find that households' ability to smooth permanent shocks has slightly increased while transitory insurance remained unchanged. However, I find that participating households have higher consumption insurance. Their ability to insure permanent shocks has improved …