Finance and Financial Management Commons^™

Nigerian Stock Market Reflection Of The Global Finance Crisis: An Evaluation, Sere- Ejembi A. A.

Bullion

With its roots in banking, the sub-prime mortgage crisis that commenced in the United States in 2007 soon resonated in other sectors of its financial system, and the economy, at large. It spread quickly to the developed economies in Europe, including the United Kingdom, and Asia. In the case of the Nigerian stock market, following initial relative insulation, the speed of contagion and response was comparatively slower. However, the effects began to manifest in the first quarter of 2008. The objective of this paper, therefore, is to review the global financial crisis, in the context of its recent effects on …

Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E.

Bullion

The paper underlined the challenges and opportunities for managing Africa's external reserves by Africans after identifying several pre-conditions for an African currency to emerge as international currency and noted that these conditions have not yet crystallized in Africa. Although African external reserves have grown over time the benefits of such growth in terms of facilitation of domestic financial markets and even the earning are not commensurate with the reserves growth rate. The non-convertibility of African currencies, volatile macroeconomic and sometimes volatile political environment coupled with the shallowness of the domestic markets are the main challenges that are faced by the …

The Perceptions Of Superintendents Regarding The Need For Graduate Business Classes In Educational Leadership, Howard Leland Smith

Dissertations

The purpose of this study was to explore the comprehensiveness of educational leadership programs regarding the extent of appropriate business knowledge attained by public school administrators. Portions of the study included a discussion of current licensing practices, academic governance, basic business requirements for leadership and management, and basic financial literacy. A further purpose was to measure the perception of how the inclusion of specific business-oriented graduate education in the certification process might increase the initial success of administrators.

The literature review supported the concept that superintendents understand change management and fiscal responsibility. Survey respondents supported these concepts by indicating the …

Fight Fraud With Strong Internal Controls, Robert L. Kardell, L. Rand Gambrell

Robert L Kardell

No abstract provided.

Effects Of Friendship In Transactions In An Emerging Market: Empirical Evidence From Brazil, Wesley Mendes-Da-Silva

Wesley Mendes-Da-Silva

This paper considers the inclusion of human behavioral aspects and implications of cognitive psychology and anthropology in decisions relating to the emerging field of behavioral finance. The formulated hypotheses were tested using 400 questionnaires, answered by students enrolled in MBA programs. The principal results suggest that individuals involved in transactions among friends or among strangers assume different behaviors—friends agree about the price attributed to an asset, while strangers show the propensity to bargain.

After The Acquisition: Here Are Seven Steps To Successfully Integrating Finance And Accounting Functions After A Merger Or Acquisition, Barbara M. Tarasovich, Bridget Lyons, John Gerlach

WCBT Faculty Publications

Although much has been written regarding the factors critical to successful integration after a merger or acquisition, very little research has focused on the particulars of integrating the finance and accounting functions of the companies involved. As with overall business integration, detailed planning, effective communication, and speed of execution are critical. The authors recommend a seven-step process that will help balance the needs of the business during an acquisition as well as ensure financial controls are established. The overall steps provide the key activities to be accomplished and provide specific and explicit guidance. This seven-step process includes: 1. Begin planning, …

Is Nigeria Ready For Inflation Targeting, Mbutor O. Mbutor

Bullion

Inflation Targeting as a framework for monetary policy implementation simply describes a policy framework in which central banks accept and announce the realization of certain forecast targets of inflation, over a given time period, as the measure policy anchor and are accountable for deviations from actual inflation from the said target. The primary goal of the paper was to expose the prospects and challenges facing the implementation of inflation targeting in Nigeria. To put the subject in proper perspective, common terminologies often used in discussing lT were defined. The preconditions for effective lT were also highlighted. The paper has argued …

International Strategic Alliance, Mohd Arif

Mohd Arif

A Strategic Alliance is a relationship between firms to creat more value than they can on their own

Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Tercer Congreso Nacional de Organismos Públicos Autónomos

"Autonomía, Reforma Legislativa y Gasto Público"

Strategically Managing Resources And Revenue, Christine G. Springer

Public Policy and Leadership Faculty Publications

The author reflects on the use of strategic management in the success of the United States Postal Service. She states that the U.S. Postal Service has used the breakthrough productivity scheme to reduce mail-processing costs and address retail locations and bulk-mail areas. She believes that the service is committed in gaining sustained success through the scheme and in serving its customers effectively.

Portland Me: Affordable Housing V. Open Space, Patrick Wright, Brett Richardson, Richard Barringer

Planning

Amid an acknowledged “affordable housing crisis”, a first-time developer approaches the City to release part of a tax-acquired property, promising a smart-growth development that would provide sorely needed starter homes for working families. The case highlights the complications of balancing competing interests in Portland ME. It shows where rational planning fails in the presence of strong neighborhood opposition, a disjointed city staff structure, and the absence of political will among City Councilors. It highlights the need for champions within local government when a project evokes competing interests. It demonstrates the extent to which “words matter” to policy outcomes, and who …

Duration Measures For Corporate Project Valuation, Tom Arnold, David S. North

Finance Faculty Publications

Sensitivity analysis is a very common exercise performed with the forecasting of project cash flows. In this paper, a duration-type measure is generated that provides a single number for the assessment of project cash flows relative to changes in the discount rate (or adjusted for changes in a particular cash flow model parameter). The calculation is no more difficult than the duration measures that already exist for bonds. Yet, the calculation provides valuable insight that many times is lost when performing sensitivity analysis. Further, at a minimum, the measure provides a gauge for the consequences of mis-specifiying the discount rate …

Entrepreneurial Spirit In Government Managed Enterprises: Evidence From The U.S. General Aviation Airports, Vitaly S. Guzhva, Massoud Bazargan, David A. Byers

Management, Marketing and Operations - Daytona Beach

While a number of studies introduce entrepreneurship in the public sector, there is still a need for empirical research in this field. We use a survey of U.S. general aviation airport managers to investigate the benefits of entrepreneurial spirit in public sector management. The results of logistic regressions suggest that the airport managers’ beliefs in importance of self-sustainability significantly improve the likelihood of general aviation airports to be self-sustaining. On the other hand, the airport specific characteristics, such as a favorable location, county population, and others are not statistically significant in achieving self-sustainability. Our findings support the literature that argue …

2007-2008 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2007-2008 Financial Summary of Morehead State University.

The Value Of Managerial Beliefs In Turbulent Environments: Managerial Orientation And E-Business Advantage, T. Coltman, T. M. Devinney, D. F. Midgley

Faculty of Informatics - Papers (Archive)

There is a great divide between the degree to which academic research accounts for the role of managerial discretion in firm performance and the weight given by the popular press and financial community to the importance of the management of an organization. The purpose of this paper is to bridge this gap by quantifying the way managerial beliefs influence the quality of firm performance in a turbulent environment based on e-business.
An e-business research setting is used that is associated with a situation of environmental turbulence to allow for sufficient variance in managerial beliefs to measure their effect on firm …

Determinants Of Financial Health Of Us General Aviation Airports, Vitaly S. Guzhva, Massoud Bazargan, David A. Byers

Management, Marketing and Operations - Daytona Beach

This survey-based study investigates the current financial environment of US general aviation airports. Due to a dearth of data and research on the financial performance of general aviation airports, the paper provides vital information regarding the critical needs and major revenue sources of such airports.The findings suggest that general aviation airports can be self-sustaining regardless of their location, runway length and other airport-specific characteristics.The attitudes of the airport manager towards the importance of financial self-sustainability, positive relationships with local communities, and utilisation of non-traditional and non-aviation revenue sources are found to be critical for the financial health of general aviation …

Incorporating Value And Risk Management Principles In Developing Low-Income Housing Projects, Ayman Ahmed Ezzat Othman

Architectural Engineering

The construction industry is concerned with satisfying its customers’ needs through delivering projects that achieve their objectives and meet their expectations on time, within budget and as specified. Despite the several housing programmes constructed by government authorities, there is a real housing problem for the poor. This problem is attributed to a number of reasons. Amongst them, the inability of the low-incomers to cover the cost of supplied houses and the lack of the constructed projects to achieve users’ satisfaction. This highlighted the need to develop innovative and creative solutions that can deliver housing projects that achieve the satisfaction of …

Project Options Valuation With Net Present Value And Decision Tree Analysis, Bert De Reyck, Zeger Degraeve, Roger Vandenborre

Research Collection Lee Kong Chian School Of Business

Real options analysis (ROA) has been developed to correctly value projects with inherent flexibility, including the possibility to abandon, defer, expand, contract or switch to a different project. ROA allows computing the correct discount rate using the replicating portfolio technique or risk-neutral probability method. We propose an alternative approach for valuing Real Options based on the certainty-equivalent version of the net present value formula, which eliminates the need to identify market-priced twin securities. In addition, our approach can be extended to the case of multinomial trees, a useful tool for modeling uncertainty in projects. We introduce within decision tree analysis …