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Psychology

2011

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Full-Text Articles in Finance and Financial Management

Two Essays On Managerial Incentives, Hui Liang Jul 2011

Two Essays On Managerial Incentives, Hui Liang

Doctoral Dissertations

Jensen and Meckling (1976) and Jensen (1986) argue that the separation of ownership and control may generate agency problems between managers and shareholders. The equity-based compensation, by tying managerial wealth to firm long-run stock performance, can incentivize managers to be more receptive to undertaking value-increasing financial policies and to improving firm performance therefore can be used as an effective tool to achieve consonance between managers actions and shareholders interest. Over the last two decades, the increased prevalence of equity-based compensation in the form of stock and options, is partially due to an increased acceptance of the alignment effect of equity-based …

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The Never Ending Attraction Of The Ponzi Scheme, Pearl Jacobs, Linda Schain Jan 2011

The Never Ending Attraction Of The Ponzi Scheme, Pearl Jacobs, Linda Schain

Criminal Justice Faculty Publications

In the 1920’s, Charles Ponzi engaged in a notorious money making scheme. This scheme had been tried before but no one prior to Charles Ponzi had managed to swindle millions of dollars out of unsuspecting people. Thus, the scheme bears his name. In December 2008, Bernard Madoff, a major Ponzi schemer, was exposed. He managed to con investors out of over $65 billion over a thirty year period. Madoff was a highly respected financial expert. The investors were mostly well educated and supposedly financially savvy. How did this happen? This paper will examine some theories which may help explain both …

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Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny Jan 2011

Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny

Senior Projects Spring 2011

Financial markets exist to disperse the risks of an unknown future in an economy. But for this process to work in an optimal fashion, investors – and subsequently markets – must have a way to interpret uncertainty. The investor rationality and market efficiency literature utilizes a methodology inadequate to address this fact, so I supplement it with the perspectives of epistemology, economic sociology, neuroscience, cognitive science, and philosophy of mind. This approach suggests that what is commonly viewed as market “inefficiency” is not necessarily caused by investor irrationality, but rather by the inherent nature of the epistemological problem faced by …

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Leadership Development In Financial Institutions In South Dakota: A Slow Growth State, Stan Wayne Vinson Jan 2011

Leadership Development In Financial Institutions In South Dakota: A Slow Growth State, Stan Wayne Vinson

Antioch University Dissertations & Theses

This dissertation asks the question, “What are the challenges of developing a leadership program in community banks in South Dakota, a slow growth environment?” The research looks at the intersection of leadership development, transformational leadership, and context—against a backdrop of community banking, corporate social responsibility, and demographic trends in South Dakota. The objective of the study is to provide theoretical and practical understanding of leadership development activities in South Dakota community banks. Using quantitative methods, seven hypotheses were created and tested using insights gained from reviewed literature and informational interviews that framed the study. The hypotheses were built looking to …

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