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Articles 1 - 30 of 174
Full-Text Articles in Finance and Financial Management
Regulating Compensation, A. Christine Hurt
Ua9/4 Institutional Advancement - College Heights Foundation, Wku Archives
Ua9/4 Institutional Advancement - College Heights Foundation, Wku Archives
WKU Archives Collection Inventories
Records created by and about College Heights Foundation including annual reports, meeting minutes, publications and subscriber lists.
Ua4/2 Academic Budgets & Administration - Correspondence/Subject File, Wku Archives
Ua4/2 Academic Budgets & Administration - Correspondence/Subject File, Wku Archives
WKU Archives Collection Inventories
Correspondence and subject files created by the office of Academic Budgets & Administration and its reporting offices:
- Academic Budgets
- Manager of Academic Resources
- PIE Grants Coordinator
Ua4/1 Acadmic Budgets & Administration - Reports, Wku Archives
Ua4/1 Acadmic Budgets & Administration - Reports, Wku Archives
WKU Archives Collection Inventories
Reports created by the office of Academic Budgets & Administration and its reporting offices:
- Academic Budgets
- Manager of Academic Resources
- PIE Grants Coordinator
Includes operating budgets and salary reports.
Ua37/29 Faculty Personal Papers Gary Ransdell, Wku Archives
Ua37/29 Faculty Personal Papers Gary Ransdell, Wku Archives
WKU Archives Collection Inventories
Personal records created by Gary Ransdell.
Confederate States Of America - Bond Coupons (Sc 2403), Manuscripts & Folklife Archives
Confederate States Of America - Bond Coupons (Sc 2403), Manuscripts & Folklife Archives
Manuscript Collection Finding Aids
Finding aid and scan (Click on "Additional Files" below) for Manuscripts Small Collection 2403. Full sheet of bond coupons issued by the Confederate States of America in $30 denominations with a full term of thirty years; total $1,000. The bonds were approved by the CSA on 11 February 1864. This sheet is hand numbered "8654" and was part of the "Fifth Series" issue.
The Archway Investment Fund Semi Annual Report, December 2010, Bryant University, Archway Investment Fund
The Archway Investment Fund Semi Annual Report, December 2010, Bryant University, Archway Investment Fund
Archway Investment Fund
No abstract provided.
Quantitative Hedge Fund Selection, Melvyn Teo
Quantitative Hedge Fund Selection, Melvyn Teo
Research Collection BNP Paribas Hedge Fund Centre
Prior research has shown that small funds, young funds, and local funds outperform their older, larger, and distant counterparts. According to the literature, hedge fund performance is driven by fund capacity constraints, managerial incentives, and local information. I revisit these studies on hedge funds and test whether their results hold up in recent data. By doing so, I lay the foundations for a quantitative hedge fund selection framework.
Business Process Automation And Managerial Accounting: An Sap Plug And Play Module (Final Report), Picheng Lee, Principal Investigator, Christian N. Mady, Rudy Jacob, Chu-Hua Kuei
Business Process Automation And Managerial Accounting: An Sap Plug And Play Module (Final Report), Picheng Lee, Principal Investigator, Christian N. Mady, Rudy Jacob, Chu-Hua Kuei
Cornerstone 3 Reports : Interdisciplinary Informatics
The primary aim of our project is to develop an Enterprise Resource Planning (ERP) platform that enables students at Pace to understand how different interdisciplinary areas in cross-unit and/or cross-enterprise decision making are related. ERP can help us do this since it allows a firm to automate and integrate its business processes, share common data and practices across the entire enterprise, and provide and access information in a real-time environment.
How Purchasing Departments Can Take Advantage Of The Sluggish Economy To Achieve Strategic Opportunities Through Best Practices, Peter O'Reilly
How Purchasing Departments Can Take Advantage Of The Sluggish Economy To Achieve Strategic Opportunities Through Best Practices, Peter O'Reilly
Publications
Presentation objectives:
- What is a Strategic Best Practice and Why is it Important to a Purchasing Department?
The Effect Of Taxes On Multinational Debt Location, Matteo Arena, Andrew H. Roper
The Effect Of Taxes On Multinational Debt Location, Matteo Arena, Andrew H. Roper
Finance Faculty Research and Publications
We provide new evidence that differences in international tax rates and tax regimes affect multinational firms' debt location decisions. Our sample contains 8287 debt issues from 2437 firms headquartered in 23 different countries with debt-issuing subsidiaries in 59 countries. We analyze firms' marginal decisions of where to issue debt to investigate the influence of a comprehensive set of tax-related effects, including differences in personal and corporate tax rates, tax credit and exemption systems, and bi-lateral cross-country withholding taxes on interest and dividend payments. Our results show that differences in personal and corporate tax rates, the presence of dividend imputation or …
The Malarkey Of Money Transfers: Overlooking E-Bay Whilst The Hawaladars Are Hunted, David M. Cook, Timothy Smith
The Malarkey Of Money Transfers: Overlooking E-Bay Whilst The Hawaladars Are Hunted, David M. Cook, Timothy Smith
Australian Counter Terrorism Conference
Informal Money Transfer systems represent one of several persistent loopholes in the fight against the War on Terror. Terrorist groups and criminal networks continue to use the Hawala system, as well as other informal transfer systems, to escape the regulatory and administrative control of formal international banking transactions. In an age where global financial regulation is underpinned by international agreement through Basel and others, the ongoing use of IVTs in Australia is cause for increasing concern. Yet Hawala is only half of the informal equation. E-bay and its associated bedfellows outstrip Hawala transfers through the same commercial imperative that drives …
Frameworks For Systemic And Structural Analysis Of Financial Innovations In Infrastructure, Ali Mostafavi, Dulcy M. Abraham
Frameworks For Systemic And Structural Analysis Of Financial Innovations In Infrastructure, Ali Mostafavi, Dulcy M. Abraham
Infrastructure System-of-Systems (I-SoS ) Research Group
Financial innovations have emerged globally to close the gap between the rising global demand for infrastructures and the availability of financing sources offered by traditional financing mechanisms such as fuel taxation, tax-exempt bonds, and federal and state funds. The key to sustainable innovative financing mechanisms is effective policymaking. This paper discusses the theoretical framework of a research study whose objective is to structurally and systemically assess financial innovations in global infrastructures. The research aims to create analysis frameworks, taxonomies and constructs, and simulation models pertaining to the dynamics of the innovation process to be used in policy analysis. Structural assessment …
Agenda: 2010 World Energy Justice Conference: Emerging Solutions For The Energy Poor: Technological, Entrepreneurial And Institutional Challenges, University Of Colorado Boulder. Center For Energy & Environmental Security, Colorado Journal Of International Environmental Law And Policy
Agenda: 2010 World Energy Justice Conference: Emerging Solutions For The Energy Poor: Technological, Entrepreneurial And Institutional Challenges, University Of Colorado Boulder. Center For Energy & Environmental Security, Colorado Journal Of International Environmental Law And Policy
2010 World Energy Justice Conference (November 5)
This conference is a sequel to the 2009 World Energy Justice Conference (WEJC 2009) which began examining ways of mainstreaming safe, clean, and efficient energy for the world's Energy Poor (EP). The EP number two and a half billion people living on less than $1-2 a day who have no access to modern energy services. WEJC 2010 more fully develops these themes. WEJC 2010 will explore how the next round of global warming meetings in Cancun could design new flexibility mechanisms that give credits, for example, for the reduction of black carbon by the adoption of cookstoves, and embrace small …
Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu
Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu
Knowledge@SMU
Asia's private banking industry is expected to expand in the near future, and all signs point to greater competition amongst existing markets and wealth management entities. The nature of the financial service, however, remains rather interpersonal. Private bankers work almost exclusively with sophisticated, high net worth individuals. Long term survival, for them, means sticking with high value clients over the long haul, over and above sticking it out with the institutes that back those financial services. What might this spell for the market? SMU's Ang Ser-Keng asked industry experts through a series of interviews.
Developing A Culturally Responsive Classroom Collaborative Of Faculty, Students, And Institution, Paul J. Colbert
Developing A Culturally Responsive Classroom Collaborative Of Faculty, Students, And Institution, Paul J. Colbert
MBA Faculty Conference Papers & Journal Articles
Culture is integral to the learning process. It is the organization and way of life within the community of students and teachers and directs the way they communicate, interact, and approach teaching and learning. Although founded in particular values and principles, the academy, like most organizations, is impacted day-to-day by its culture. Yet, the traditional higher education institution has not been designed to operate within a racially or ethnically diverse student population. The social, political, economic, and cultural forces that support the institution influence the teaching and learning environments. To better address cultural diversity in the classroom, faculty must first …
Culvert Material Cost Comparison, New England Environmental Finance Center
Culvert Material Cost Comparison, New England Environmental Finance Center
Economics and Finance
The following tables provide a detailed look at the role that culvert material and culvert diameter play in the overall cost of a culvert replacement project. Table 1 displays the cost per foot purchase price arranged by diameter size for the various culvert materials that are currently available. Table 2 displays the average additional culvert pipe material cost (increased cost to upsize minus original in-kind replacement cost) that would be incurred when upsizing a given diameter of culvert with a 50 foot length by factors of: 200%, 250% and 300%.
Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu
Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu
Research Collection Lee Kong Chian School Of Business
In this paper a Markov chain Monte Carlo (MCMC) technique is developed for the Bayesian analysis of structural credit risk models with microstructure noises. The technique is based on the general Bayesian approach with posterior computations performed by Gibbs sampling. Simulations from the Markov chain, whose stationary distribution converges to the posterior distribution, enable exact finite sample inferences of model parameters. The exact inferences can easily be extended to latent state variables and any nonlinear transformation of state variables and parameters, facilitating practical credit risk applications. In addition, the comparison of alternative models can be based on devian information criterion …
Would Position Limits Have Made Any Difference To The 'Flash Crash' On May 6, 2010, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh
Would Position Limits Have Made Any Difference To The 'Flash Crash' On May 6, 2010, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh
Research Collection School Of Computing and Information Systems
On May 6, 2010, the US equity markets experienced a brief but highly unusual drop in prices across a number of stocks and indices. The Dow Jones Industrial Average (DJIA) fell by approximately 9% in a matter of minutes, and several stocks were traded down sharply before recovering a short time later. Earlier research by Lee, Cheng and Koh (2010) identified the conditions under which a “flash crash” can be triggered by systematic traders running highly similar trading strategies, especially when they are “crowding out” other liquidity providers in the market. The authors contend that the events of May 6, …
Do Foreign Institutions Improve Stock Liquity?, Chi Shen Wei
Do Foreign Institutions Improve Stock Liquity?, Chi Shen Wei
Research Collection Lee Kong Chian School Of Business
This paper examines whether capital flows by foreign institutions improve liquidity in domestic markets. I find that stocks with increased foreign institutional ownership subsequently experience higher liquidity. However, it is difficult to interpret this evidence as a causal relation because institutions tend to self-select into more liquid stocks. To solve this problem, I exploit the 2003 US dividend tax cut as a natural experiment. The results from a 2SLS (IV) regression confirm that liquidity improved more in dividend-paying stocks located in US tax-treaty countries compared to similar stocks located in non-treaty countries. These patterns are consistent with the notion that …
2010 University Of Maine System Financial Report, University Of Maine System
2010 University Of Maine System Financial Report, University Of Maine System
General University of Maine Publications
The following unaudited Management’s Discussion and Analysis (MD&A) has been prepared by University of Maine System (“the System” or UMS) management to provide users with a narrative and analysis of the System’s financial position based on currently known facts, decisions, and conditions. This discussion includes an analysis of the financial condition and results of activities of the System for the fiscal years ended June 30, 2010 and prior years. As this presentation includes highly summarized information, it should be read in conjunction with the accompanying basic financial statements and related notes.
The Disparity Between Long-Term And Short-Term Forecasted Earnings Growth, Zhi Da, Mitch Warachka
The Disparity Between Long-Term And Short-Term Forecasted Earnings Growth, Zhi Da, Mitch Warachka
Business Faculty Articles and Research
We find the disparity between long-term and short-term analyst forecasted earnings growth is a robust predictor of future returns and long-term analyst forecast errors. After adjusting for industry characteristics, stocks whose long-term earnings growth forecasts are far above or far below their implied short-term forecasts for earnings growth have negative and positive subsequent risk-adjusted returns along with downward and upward revisions in long-term forecasted earnings growth, respectively. Additional results indicate that investor inattention toward firm-level changes in long-term earnings growth is responsible for these risk-adjusted returns.
Hedge Funds And Analyst Optimism, Melvyn Teo
Hedge Funds And Analyst Optimism, Melvyn Teo
Research Collection BNP Paribas Hedge Fund Centre
We find that analysts are more likely to issue favorable recommendations for stocks predominantly owned hedge funds. Moreover, these optimistic recommendations translate into poorer stock performance over the next three to six months. Hedge funds take advantage of these flattering reports by concurrently offloading their stock holdings. Our results suggest that analysts are reluctant to downgrade stocks held by their most important clients.
Misi At A Glimpse: January 1 To December 31, 2010, College Of Management, University Of Massachusetts Boston
Misi At A Glimpse: January 1 To December 31, 2010, College Of Management, University Of Massachusetts Boston
Financial Services Forum Publications
According to the Index, investors were generally cautious in 2010 (approximately half the trading days); however, investor sentiment ranged from highly risk-averse to highly risk seeking, with scores distributed almost evenly across all the categories. Investor sentiment had peaked in February, reached a low in the end of May. It was on an upward trajectory towards the end of the year, and was almost near its February high.
Mobility And Permanence Of Local Ethics: The Case Of Young Adults Involved In The Banco Palmas Economic Solidarity Movement, Lillian Steponaitis
Mobility And Permanence Of Local Ethics: The Case Of Young Adults Involved In The Banco Palmas Economic Solidarity Movement, Lillian Steponaitis
Independent Study Project (ISP) Collection
The global capitalist model produces economic centers and peripheries on many scales. In Fortaleza, Brazil this pattern is evident, with the majority of the wealth and capital concentrated in central neighborhoods. As one travels to the edge of the municipality, one encounters economically and socially marginalized communities. One of these communities, Conjunto Palmeira, has attempted to mollify this exclusion by imagining and exploring new modes of existing and finding economic growth outside of the capitalist model. In 1998, the residents created Banco Palmas, a community bank. Operating under the philosophies of economic solidarity, Banco Palmas offers microcredit loans, circulates a …
Maintaining A Flexible Payout Policy In A Mature Industry: The Case Of Crown Cork And Seal In The Connelly Era, James Ang, Tom Arnold, C. Mitchell Conover, Carol Lancaster
Maintaining A Flexible Payout Policy In A Mature Industry: The Case Of Crown Cork And Seal In The Connelly Era, James Ang, Tom Arnold, C. Mitchell Conover, Carol Lancaster
Finance Faculty Publications
As related in these pages, the history of Crown Cork and Seal (hereafter known as “Crown”) provides us with a case of a company that stopped paying dividends but establish a disciplined share repurchase policy and did so for all the right reasons. Under family ownership in the 1950s, Crown lost market share and was on the brink of bankruptcy when its largest shareholder, John Connelly, was elected chairman of the board in 1957. Under John Connelly’s leadership, the firm restructured its operations and began a payout policy based solely on stock repurchases. During the Connelly era, the firm did …
Application Of The Fractional Diffusion Equation For Predicting Market Behaviour, Jonathan Blackledge
Application Of The Fractional Diffusion Equation For Predicting Market Behaviour, Jonathan Blackledge
Articles
Most Financial modelling system rely on an underlying hypothesis known as the Eficient Market Hypothesi (EMH) including the famous BlackScholes formula for placing an option. However, the EMH has a fundamental flaw: it is based on the assumption that economic processes are normally distributed and it has long been known that this is not the case. This fundamental assumption leads to a number of shortcomings associated with using the EMH to analyse financial data which includes failure to predict the future volatility of a market share value. This paper introduces a new financial risk assessment model based on Levy statistics …
Corporate Governance And Mindfulness: The Impact Of Management Accounting Systems Change, John Joseph Williams, Alfred E. Seaman
Corporate Governance And Mindfulness: The Impact Of Management Accounting Systems Change, John Joseph Williams, Alfred E. Seaman
Research Collection School Of Accountancy
The International Federation of Accountants (2009) argues that a governance structure should go beyond conformance with regulations and equally support a performance dimension that can lead to better outcomes. This paper explores the relationship between these two governance dimensions and the capacity for mindfulness, utilizing organizational theory that describes high reliability organizations. Survey data was obtained from top-level accounting professionals in a sample of 124 Canadian firms. Regression results support the hypothesis that both the conformance and performance dimensions of governance are significant determinants of the capacity for mindfulness. Additional analysis shows that the explanatory power of this relationship persists …
Using Actual Betting Percentages To Analyze Sportsbook Behavior: The Canadian And Arena Football Leagues, Rodney Paul, Andrew P. Weinbach, Kristin K. Paul
Using Actual Betting Percentages To Analyze Sportsbook Behavior: The Canadian And Arena Football Leagues, Rodney Paul, Andrew P. Weinbach, Kristin K. Paul
Falk College Research Center
Sportsbook behavior is tested for the Canadian and Arena Football Leagues using real sportsbook betting percentages from on-line sportsbooks. The balanced book hypothesis of the traditional sportsbook models does not appear to hold for these leagues, as favorites and overs attract more than 50 percent of the betting dollars. Although there is some slight evidence toward shading the line in these directions, there is also no overwhelming evidence supporting the Levitt (2004) hypothesis, as sportsbooks do not appear to be actively pricing to maximize profits. In general, the results seem more consistent with the sportsbook pricing as a forecast, content …
Wait Not For Another Crisis: Weighing In On The Fair Value Accounting Debate, Knowledge@Smu
Wait Not For Another Crisis: Weighing In On The Fair Value Accounting Debate, Knowledge@Smu
Knowledge@SMU
The use of fair value accounting – simply defined as the booking of numbers based on current market value – has been named as a catalyst in worsening the recent financial crisis. Emerging from the rubble, accounting regulators, like the IASB and FASB, together with industry players, are now trying to work out rules and standards. However, the question of to “fair” or not to “fair” is the subject of a hot debate. Columbia University’s Stephen Penman weighs in at a recent SMU lecture.