Business Commons^™

Essays On Hedge Fund Performance, Sang Heon Shin

Theses and Dissertations - UTB/UTPA

This dissertation consists of two essays on hedge fund performance. The first essay models exposure of hedge fund to risk factors and examines time-varying performance of hedge funds. From existing models such as ABS-factor model, SAC-factor model, and four-factor model, we extract the best six factors for each hedge fund portfolio by investment strategy. Then, we find combinations of risk factors that most explain variance in performance of each hedge fund portfolio by investment strategy. The results show instability of coefficients in the performance attribution regression. Incorporating time-varying factor exposure feature would be the best way to appropriately measure hedge …

Identifying Local Entrepreneurship Development System Policy In Rural Areas And How Local Context Shapes Entrepreneurship Policy Formation, Stacey Wright Mccullough

Graduate Theses and Dissertations

As rural communities struggle to maintain a sustainable economic base in today's global economy, many are exploring strategies to encourage entrepreneurial development. The purpose of this study was to better understand how local public policy is being be used to support the creation of entrepreneurship development systems in rural communities and how local context shapes entrepreneurship public policy formation. In phase one of the study, a survey and analysis of documents available on the Internet were used to identify county and municipal policy actions associated with entrepreneurial development in 16 counties in North Carolina. In the second study phase, two …

Family Policies And Institutional Satisfaction: An Intersectional Analysis Of Tenure-Track Faculty, Heather Lee Schneller

Graduate Theses and Dissertations

Gender and faculty career advancement have been examined with a focus on academic work environment, including faculty workloads, mentoring relationships, access to research networks, and work-life balance. Previous studies concerned with gender, employment, and care work only have considered child care. Additionally, the exploration of faculty and care work focused specifically on gender instead of examining the interaction of race and gender. To date, no study on academic work-life policies includes faculty perceptions of their importance and effectiveness nor has the faculty assessment of eldercare policy been examined in relation to career success.

Guided by an intersectional perspective, this study …

On Export Intermodal Transportation Problem, Supriya Arun Jadhav

Graduate Theses and Dissertations

This thesis investigates a logistics problem facing companies that export their products to other countries. The problem is called export intermodal transportation problem. In the export intermodal transportation problem, goods ordered by overseas customers need to be transported from production plants or warehouses of an export company to the customers destinations overseas. The transportation involves using multiple transportation modes such as trucks and rails for the inland portion and ocean liners for the overseas portion, and its objective is to have the goods moved and the cost minimized subject to various constraints. Cost can be minimized by combining orders from …

Essays On Time-Varying Risk And Investor Sentiment: Evidence From The U.S. And G-7 Countries Using Multivariate Garch Modeling, David William Johnk

Theses and Dissertations - UTB/UTPA

This dissertation investigates the effects of investor sentiment on asset prices in both the U.S. equity market (chapter III) and international market (chapter IV). It employs a conditional version of the CAPM using a parsimonious generalized autoregressive conditional heteroskedasticity (GARCH) model in which the risk premia, betas, and correlations are time-varying. Investor sentiment is presented from two direct measures (surveys) and one indirect measure as conditional information variables; whereas, previous studies used macroeconomic fundamentals. Furthermore, investor sentiment is not assumed to be fully irrational. It is decomposed into its rational and irrational components. Both rational and irrational components are tested …

Evaluating The Impact Of A New Casino Loyalty Program On Gaming Volume, Ji Hye Min

UNLV Theses, Dissertations, Professional Papers, and Capstones

Using two years secondary data gathered from a Las Vegas hotel and casino, the effectiveness of a new casino loyalty program is examined on both daily slot coin-in and table game drop. Based on a theoretical model advanced to estimate the effects of a new loyalty program, simultaneous multiple regression analysis with Autoregressive Moving Average (ARMA) terms is used to analyze the data. The results indicate that the loyalty variable significantly increases slot coin-in at a rate of $302,455 per day, while table game drop is not significantly affected by the introduction of the new loyalty program. The coin-in increase …

Do U.S. Firms Fly Higher When Bypassing The U.S. Capital Markets? An Investigation Of The Short- And Long-Run Performance Of Foreign Ipos?, Robert N. Killins

Theses and Dissertations - UTB/UTPA

This dissertation studies the performance of U.S. firms that partake in a foreign IPO – bypassing their domestic exchanges and raising their equity in a foreign market. Chapter one provides an introduction and brief review of the main research questions and results. Chapter 2 provides a detailed literature review on initial public offerings-IPOs. This includes relevant studies on the long- and short-run performance of IPOs, theories for IPO underpricing and an international component of the IPO literature. Additional cross-listing literature is also reviewed to provide a more complete and balanced understanding of the international market for equity. Chapter 3 develops …

Introduction To Doctoral Education And The Faculty Of The Future, Ronald G. Ehrenberg

Ronald G. Ehrenberg

[Excerpt] Concern has been expressed, however, that the growing enrollment of foreign students in American PhD programs "crowds out" potential American citizen PhD holders and discourages them from pursuing PhD study. On the other hand, the aftermath of 9/11, the growth of research infrastructure and research support in other nations, and the growth of other nations' higher education systems all cast doubt on the ability of the United States to continue to rely on foreign PhD holders to meet our nation's need for scientific researchers and to fill future faculty positions. Given all of these issues, in October 2006 the …

Changing The Education Of Scholars: An Introduction To The Andrew W. Mellon Foundation’S Graduate Education Initiative, Ronald G. Ehrenberg, Harriet Zuckerman, Jeffrey A. Groen, Sharon M. Brucker

Ronald G. Ehrenberg

[Excerpt] In 1991 the Andrew W. Mellon Foundation launched the Graduate Education Initiative (GEI) to improve the structure and organization of PhD programs in the humanities and social sciences and to combat the high rates of student attrition and long time to degree completion prevailing in these fields. While attrition and time to completion were deemed to be important in and of themselves, and of great significance to degree seekers, they were also seen more broadly as indicators of the effectiveness of graduate programs. An array of characteristics of doctoral programs was earmarked as likely contributors to high attrition and …

The Perception Of Athletes In Local And Neutral Media Markets, Gregory Stine

Graduate Theses and Dissertations

This study examined the perception of professional athletes in local and neutral media markets. The purpose of the study was to determine how people in Philadelphia and people in Arkansas feel toward the Philadelphia Eagles' Nnamdi Asomugha. It was expected that the study's participants in Philadelphia would feel more positively toward Asomugha and would be more aware of his off-the-field contributions. Additionally, it was expected that there would be a positive relationship between team identification level and both positive feelings toward Asomugha and awareness of his efforts away from the field. Finally, it was anticipated that participants near Philadelphia would …

The Competitive Front-Of-Package Labeling Of Consumer Packaged Goods: Cutting Through The Clutter, Christopher Newman

Graduate Theses and Dissertations

At no point in U.S. history have food product packages displayed so many symbols and statements regarding nutrition and health benefits (Nestle 2010). However, despite this explosion of front-of-package (FOP) health communications, obesity and health-related problems of U.S. consumers continue to be a critical concern. Therefore, it is important for marketers, retailers, manufacturers, and public policy makers to develop a more complete understanding of consumers' processing and utilization of health information on food packages, as well as how this information affects product evaluations and choices.

Therefore, this dissertation utilizes a processing fluency theoretical framework (e.g., Zajonc 1968; Jacoby and Dallas …

Empirical And Analytical Essays On The Relationship Between Inventory And Transportation, Rodger David Swanson

Graduate Theses and Dissertations

This dissertation examines the relationship between inventory cost (IC) and transportation cost (TC). The association of the two has been recognized for over a hundred years; accordingly, managers and academics have believed that these costs have offsetting properties such that combinations of inventory and transportation expenditures can be altered to fit different strategic objectives. However, the behavior of this relationship in practice has not been tested. The essays of this dissertation examine this relationship through multiple theoretical lenses and with multiple data sets. Essay 1 examines aggregate IC and TC in the United States from 1960-2009. This period coincides with …

Three Essays On External Sources Of Corporate Governance, Kevin K. Lee

Graduate Theses and Dissertations

Corporate governance is the system by which corporations are controlled. External sources of governance include regulatory and market mechanisms as well as the interplay of goals between managers, the board, and shareholders. Other external sources can include informal institutions which can shape goals as well as suggested by institutional theory, effectively constrain human behavior. In my first essay, I argue that foreign direct investors can act as agents of change in corporate governance. Investigating changes in ownership and control of Swedish firms, I find that active foreign investors' participation move firms away from a Swedish stakeholder orientation toward an Anglo-American …

Determinants And Consequences Of Risk Management Committee Formation, Chris Hines

Graduate Theses and Dissertations

This paper examines the determinants and consequences of financial institutions voluntarily forming risk management committees (RMCs). Specifically, I determine whether RMCs are related to a change in risk outcomes, an increase in profitability, a change in hedging and trading derivative structures, and greater financial reporting quality during the post-committee formation period compared to a control group. I use a sample of financial institutions that form a RMC in any year from 1994 through 2008 and a control sample of financial institutions that do not form a RMC during the sample period. The results provide evidence to suggest that financial institutions …

The Role Of Liquidity In The Market For American Depositary Receipts: Evidence From Latin America, Alma Delia Hales

Theses and Dissertations - UTB/UTPA

Since 2003 Latin America has exhibited macroeconomic stability that starkly contrasts conditions in the 1990s. Capital flows from the United States to Latin American equity markets, particularly through American Depositary Receipts (ADRs), increased from 2003 until 2008 when they declined due to the global financial crisis. However, by 2010, capital flows to most Latin American countries exceeded their pre-crisis levels. In spite of the reported macroeconomic stability and rising capital flows, Latin American stock markets remain underdeveloped and exhibit low domestic liquidity. This dissertation analyzes the relationship between low domestic liquidity and the market for ADR issues from four Latin …

Executive Compensation, Firm Performance And Liquidity Under Imperfect Corporate Governance, Yongli Luo

Theses and Dissertations - UTB/UTPA

This dissertation examines the relationship between executive compensation, firm performance and liquidity under imperfect corporate governance institution by using a novel Chinese dataset over 2001-2010. The first essay examines the determinants of Chinese executive compensation from the agency-based theoretical framework. I find that there is a positive relationship between Chinese executive compensation and firm performance. The weak corporate governance in China exhibits strong liquidity and control effects after the split-share structure reform. It seems that CEO duality, the establishment of compensation committee, and the involvement of state ownership in Chinese public firms may lead executive compensation to a relation-based rather …

Capm And Irrational Market: Theories And Empirical Studies, Jaehan Koh

Theses and Dissertations - UTB/UTPA

With a new interpretation of the Capital Asset Pricing Model (CAPM), this dissertation explains that the CAPM has an implied assumption of no mispricing. The CAPM should work if mispricing is removed from all assets in the market, leading to the Rational CAPM. The Rational CAPM measures value changes of the market, and then yields value changes of an asset/portfolio by employing value changes of the market in the model. For the Rational CAPM, this dissertation explains that risk, mispricing, irrationality and (investor) sentiment all indicate the same. Using the value changes from the Rational CAPM and historical dividend yields, …

Development And Implementation Of It-Enabled Business Processes: A Knowledge Structure View, Rick Brattin

Graduate Theses and Dissertations

As competitive pressures mount, organizations must continue to evolve their business processes in order to survive. Increasingly, firms are developing new IT-enabled business processes in response to rising competition, greater customer expectations, and challenging economic conditions. The success rate of these projects remains low despite much industry experience and extensive academic study. Managerial and organizational cognition represents a potentially fruitful lens for studying the design and implementation of IT-enabled business processes. This view assumes that individuals are information workers who spend their days absorbing, processing, and disseminating information as they pursue their goals and objectives. Individuals develop cognitive representations, called …

Time Waits For No One: Using Time As A Lens In Information Systems Research, Christopher M. Conway

Graduate Theses and Dissertations

Despite considerable research interest, IT projects still fail at a higher rate than other projects. Primary causes for these failures are relational, motivational, and scheduling issues on the team. Using the concept of time as a lens, the four essays in this dissertation examine how the ways that individuals and teams structure time can help explain these failures. The essays formulate the concept of temporal dissonance at the individual and team level, and explore how temporal dissonance causes negative consequences for IT workers and IT teams.

Essay one synthesizes temporal dissonance from concepts of temporal congruity and cognitive dissonance. It …

The Impact Of Financial And Trade Openness On Economic Growth And Stock Returns: The Case Of Africa, Tibebe Abebe Assefa

Theses and Dissertations - UTB/UTPA

The debate on whether financial development and stock market help growth is ongoing. In the context of Africa where there exists a strong need and potential for growth, it is important to revisit the topic in order to address the problem of economic underdevelopment. In this dissertation, we focus on seventeen African countries with two main objectives: First, to investigate the relationship between financial and trade openness, and economic growth. Second, we investigate the association of African real stock index returns with financial and trade openness. For all analysis, we use Fixed Effect Models (FEM) and System Generalized Method of …

The Influence Of Venture Creation Stage On The Relationship Between Environmental Context And Social Network Orientation Among U.S. Minority Groups, Tammi C. Redd

Theses and Dissertations - UTB/UTPA

The percentage of minorities who have owned successful small businesses in the U.S. has been astonishingly lower than that of Mainstreams. An important underlying challenge for minority entrepreneurs is the ability to development and maintain social network connections. This research investigates the role urban and rural environments play in the new venture creation process among U.S. minority groups. Specifically, this dissertation will focus on issues relating to network scope, networking ability and strength and network relationships at different stages of the venture creation process. The environmental contexts of both the urban entrepreneur and that of the rural American entrepreneur will …

Is Capital Structure Relevant? An Empirical Examination Of Capital Structure Choices, William R. Pratt

Theses and Dissertations - UTB/UTPA

Modigliani and Miller propose a scenario in which capital structure becomes irrelevant. To achieve the condition of capital structure irrelevance, Modigliani and Miller have to assume market frictions such as taxes, information asymmetry, and other factors do not exist. With the acknowledgement of such forces, capital structure irrelevance does not hold and we are left with the question “why do firms finance the way that they do?” Within this dissertation I address this very question. Chapters one and two provide an introduction and review of the extant literature. Chapter three examines data over a period of 1970 to 2010, with …

Three Essays On Cross-Listings From Emerging Markets, Omar Alejandro Esqueda

Theses and Dissertations - UTB/UTPA

During the last two decades, the number of cross-listed firms has been rising steadily. Recently, exchange-traded cross-listings from emerging markets have outnumbered those from developed countries. Chapter I shows an introduction to cross-listings. Chapter II analyzes the implications of ownership structure on the cross-listing premium of emerging-market firms that cross-list on U.S exchanges. Insider ownership is an important determinant of the value of cross-listed firms. The spike and fall in excess-value around the cross-listing year described in the extant cross-listing literature is substantially higher if the firm has insider ownership. In fact, investors are worse-off in the long-run when they …

Too Big Not To Fail: United States Corporate Media And The 2008 Financial Crisis, Justin Lars Bergh

Graduate Theses and Dissertations

This thesis investigates United States newspaper coverage of the 2008 financial crisis, with a particular focus on the debate that took place in press coverage surrounding the proposed 700 billion dollar Troubled Asset Relief Program (TARP). Specifically, this study aims to understand how, when faced with a crisis that threatened hegemony, the state and economic elites, working in and through media, were able to effectively convince the subordinate classes to consent to state intervention aimed at perpetuating a financial system that has historically profited from the relative financial insecurity of the subordinate classes. In order to understand media's role in …

The Self-Efficacy Beliefs Of Black Women Leaders In Fortune 500 Companies, Latonya R. Jackson

Graduate Theses and Dissertations

Black women are underrepresented in leadership positions within organizations. The extent to which self-efficacy influences the advancement potential of Black females is unknown. The purpose of this study was to examine the self-efficacy beliefs of black women in leadership positions and to determine how Black women leaders' careers are influenced by their self-efficacy beliefs. Participants for the study were determined using convenient random sampling. The objectives of this study were to determine the profile and level of self-efficacy, and leadership practices of participants based on tenure (length of time in a leadership position), age comparison and work experience (total number …

The Construct Development Of Spiritual Leadership, Emily Rachael Lean

Graduate Theses and Dissertations

Although the past decade has shown a growing interest in workplace spirituality in the leadership and organizational literature, research in the area of spiritual leadership, is still in its infancy. The goal of this study was to delineate the construct of spiritual leadership and to provide theoretical guidelines for future research. A conceptual definition of spiritual leadership is offered in addition to a list of behaviors relevant to a spiritual leader. This study was the first of its kind to take into account the knowledge and opinions of both academic and practitioner subject matter experts. Furthermore, with regard to developing …

Narrative Identity Within A Workers' Rights Organization, Emily Ann Hallgren

Graduate Theses and Dissertations

This research includes in-depth interviews and participant observation to examine the construction of narrative identity by the staff members and worker-members of a workers' rights organization in Northwest Arkansas. I seek to understand how the organization negotiates the broader cultural and institutional narrative identities with the personal narrative identities of the worker-members in a cultural context hostile toward undocumented immigrants. Further, I examine how the worker-members themselves both internalize and challenge the organizational, institutional, and cultural narratives about undocumented immigrant workers. Findings reveal that the staff members and the worker-members create different narratives for different purposes, though both are concerned …

Essays On Mergers And Acquisitions And Governance, Rwan Ibrahim Talib El-Khatib

Graduate Theses and Dissertations

There is a recent strand of corporate finance literature that explores the impact of executives and directors' Social connections on firm value, performance, and governance. Those studies document that such Social connections could be beneficial when they enhance the sharing of information and knowledge, but could also be detrimental when associated with CEOs, as they could provide the CEO with a source of influence that makes her more entrenched and powerful.

In the first essay, I use four common measures of network centrality to compute the position of the CEO within the Social network of all executives and directors of …

Organizational Citizenship Behavior, Collectivism, And Job Satisfaction: Evidence From Mexico, Miguel Angel Baeza

Theses and Dissertations - UTB/UTPA

The purpose of this dissertation was to conduct a field study in a Mexican company in several Mexican regions. This study considered administrative professionals as a continuation to assess the validity of a recently developed Mexican Border OCB (MBOCB) scale by Ortiz (2000). This validation/refinement of an MBOCB scale was accomplished by comparing and contrasting results of this investigation, given the name of Mexican OCB (MOCB), with other OCB dimensions studies in other regions in order to evaluate criterion validity (e.g., convergent and discriminat) through factor loadings. Furthermore, this dissertation categorized these MOCB dimensions into more conceptualized terms utilized by …

Organizational Citizenship Behaviors In Higher Education: Examining The Relationships Between Behaviors And Performance Outcomes For Individuals And Institutions, Kevin Jimmy Rose

Graduate Theses and Dissertations

Organizational citizenship behaviors (OCBs) have been described as employee behaviors that are not required by job descriptions, are not formally rewarded, and contribute positively to the organization. Previous research has shown that OCBs are related to both individual and organizational performance. Given the importance of OCBs to individual and organizational effectiveness, the purpose for conducting the study was to describe OCBs in the higher education context, describe the relationships between OCBs and various aspects of faculty and staff performance, and explore the extent to which institutional leaders should be concerned with the OCBs of both faculty and professional staff. The …