Finance and Financial Management Commons^™

The Mess At Morgan: Risk, Incentives And Shareholder Empowerment, Jill E. Fisch

All Faculty Scholarship

The financial crisis of 2008 focused increasing attention on corporate America and, in particular, the risk-taking behavior of large financial institutions. A growing appreciation of the “public” nature of the corporation resulted in a substantial number of high profile enforcement actions. In addition, demands for greater accountability led policymakers to attempt to harness the corporation’s internal decision-making structure, in the name of improved corporate governance, to further the interest of non-shareholder stakeholders. Dodd-Frank’s advisory vote on executive compensation is an example.

This essay argues that the effort to employ shareholders as agents of public values and, thereby, to inculcate corporate …

The Impact Of Monetary Policy On The Stock Market, Simin Hojat

Walden Dissertations and Doctoral Studies

Prior studies examining the impact of monetary policy instruments on the equity market have produced mixed results. This problem is important to address because of the substantial impact of monetary policy on the economy and economic resource allocation via the equity market. The purpose of this study was to determine the impact of change in money supply (M2), change in Federal Funds Rate (FFR), and change in Federal Funds Futures (FFF) on the expected rate of returns of publicly traded companies while controlling for the rate of return of the whole equity market and size of the sampled companies. The …

Cyclical Economic Impacts On Aggregated Fiscal Imbalance Levels In The United States, Douglas Arthur Merriman

Walden Dissertations and Doctoral Studies

Cyclical Economic Impacts on Aggregated Fiscal Imbalance Levels in the United States

by

Douglas A. Merriman

MSM, University of Maryland University College, 2004

BS, Central Washington University, 1983

Dissertation Submitted in Partial Fulfillment

of the Requirements for the Degree of

Doctor of Philosophy

Applied Management and Decision Science

Walden University

July 2015

The impacts of cyclical economic volatility on state-level fiscal imbalance levels have gained attention, given that beginning in late 2007, the United States experienced the deepest and longest-lasting recession in its history. The problem addressed by this study was whether there was a statistically significant relationship between certain …

Dynamically Hedging Oil And Currency Futures Using Receding Horizontal Control And Stochastic Programming, Paul Edward Cottrell

Walden Dissertations and Doctoral Studies

There is a lack of research in the area of hedging future contracts, especially in illiquid or very volatile market conditions. It is important to understand the volatility of the oil and currency markets because reduced fluctuations in these markets could lead to better hedging performance. This study compared different hedging methods by using a hedging error metric, supplementing the Receding Horizontal Control and Stochastic Programming (RHCSP) method by utilizing the London Interbank Offered Rate with the Levy process. The RHCSP hedging method was investigated to determine if improved hedging error was accomplished compared to the Black-Scholes, Leland, and Whalley …

Waiting For The Confidence Fairy: An Analysis Of European Sovereign Bond Spreads Before And After The Financial Crisis, David Uresti

Open Access Theses & Dissertations

The 2008 Financial Crisis that began in the United States caused widespread panic throughout the financial sector which resulted in the collapse of some companies and large losses for others. The availability of credit declined even as investor confidence continued to deteriorate. The European periphery concluded that the Financial Crisis would be relegated to the American economy. However, in 2009 Greece suffered a credit downgrade that signaled that the financial shock entered European shores. Shortly thereafter Spain suffered a credit downgrade followed by Italy in 2010. Suddenly the threat of default by a number of European countries became very real. …

Revisiting Compensating Wage Differentials: The Evidence From Employer-Provided Health Insurance, Dan Qu

Business Review

This paper uses 1996 and 2001 Survey of Income and Program Participation to examine the evidence for compensating wage differentials associated with employer-provided health insurance (EHI) in the United States. The results provide no evidence of a tradeoff between wages and EHI coverage. On the other hand, the results do suggest that employees who work in states with income taxes are more likely to receive EHI than those in states without income taxes. Fixed effects, first differencing and instrumental variable estimation are used to address the potential ability bias and endogeneity problems in wage models with EHI as an independent …

Asset Allocation In The Chinese Stock Market: The Role Of Return Predictability, Jian Chen, Fuwei Jiang, Jun Tu

Research Collection Lee Kong Chian School Of Business

In this article the authors investigate asset allocation in the Chinese stock market from the perspective of incorporating return predictability. Based on a host of return predictors, they find significant out-of-sample return predictability in the Chinese stock market. They then examine the performance of active portfolio strategies—such as aggregate market timing as well as industry, size, and value-rotation strategies—designed to profitably exploit return predictability. Strong evidence is found by the authors that these portfolio strategies incorporating return predictability can deliver superior performance—up to 600 basis points per annum and almost double the Sharpe ratios—compared with the passive buy-and-hold benchmarks that …

The “Other” Side Of Wall Street: Banking, Policies, And Adaptive Methods Of U.S. Migrant Workers, Cassandra Rae Decker

USF Tampa Graduate Theses and Dissertations

Migrant farmworkers' social and economic mobility is frequently constrained through the denial of basic resources, such as access to the formal financial sector. This thesis ethnographically examines banking policies as they apply to low-income, mobile, populations that temporarily reside in Florida. It utilizes participant observation, interviews, and participatory mapping with migrant farmworkers. It also considers how policymakers and service providers in the formal and informal financial sectors rationalize control of resources and the effects on mobile populations. Particular attention is paid to adaptive practices in the alternative financial sector – cash checking services, carrying cash, and remittances. By utilizing the …

Estudio De Caso Del Programa De Responsabilidad Social Empresarial De La Empresa Mineros S.A : Efectos Sociales Y Financieros, Para El Periodo 2010 2013 Y Experiencias Exitosas Replicables Al Sector De La Minería De Oro, Cindy Bibiana Cárdenas Novoa, Rosa Enith Mosquera Ortiz

Finanzas y Comercio Internacional

Esta investigación abordará la importancia que tiene la implementación de un modelo de Responsabilidad Social Empresarial en el sector minería de oro en Colombia, a partir del estudio de caso de la empresa Mineros S.A., identificando cuáles han sido los efectos sociales y financieros de este modelo en dicha empresa entre los años 2010-2013, con el fin de evidenciar si este puede llegar a ser replicable en el sector y contribuir principalmente a la disminución de la minería informal e ilegal que actualmente se presenta en las regiones de explotación minera. En consecuencia, esta investigación se soporta mediante una entrevista …

Plan De Negocios Para La Creación De La Empresa Fabricante De Bolsos Y Accesorios De Vestir A Partir De Neumáticos Fuera De Uso Renew S.A.S, Mónica Alejandra Rodríguez Otálora, Jenny Marcela Morales Riveros

Finanzas y Comercio Internacional

El plan de emprendimiento adjunto consiste en la creación de la empresa RENEW S.A.S. que tendrá como actividad económica la fabricación, comercialización y exportación (a Brasil) de bolsos, billeteras y cinturones para hombre y mujer elaborados a partir de neumáticos. Dicha iniciativa empresarial nace de la necesidad de darle un nuevo uso a los neumáticos fuera de uso, los cuales después de terminar de su vida útil representan un gran problema medioambiental para la sociedad, dado que este producto tarda más de 500 años en degradarse y su quema u desecho produce afectaciones al medio ambiente y a la salud …

Ex_Ante_Cba-Community_Drr_In_The_Caribbean.Pdf, Meenakshi Jerath, Juan Pablo Sarmiento

Juan Pablo Sarmiento