Open Access. Powered by Scholars. Published by Universities.®

Finance and Financial Management Commons

Open Access. Powered by Scholars. Published by Universities.®

Selected Works

2013

Discipline
Keyword
Publication
File Type

Articles 31 - 38 of 38

Full-Text Articles in Finance and Financial Management

Impact Of Affect Heuristic, Fear And Anger On Decision Making Of Individual Investor: A Conceptual Study, Ehsan Ul Hassan, Fahad Shahzeb, Maryum Shaheen, Qamar Abbas, Zahid Hameed, Ahmed Imran Hunjra Jan 2013

Impact Of Affect Heuristic, Fear And Anger On Decision Making Of Individual Investor: A Conceptual Study, Ehsan Ul Hassan, Fahad Shahzeb, Maryum Shaheen, Qamar Abbas, Zahid Hameed, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Financial theories support the efficient market hypothesis, which assumes that prices are fair in the market and investors behave rationally while taking any investment decision. Individual Investors of the stock market are therefore thought to take rational decisions while making judgments and investment decisions. However, a lot of studies on behavioral finance have criticized the phenomenon of market efficiency and investor’s rationality. The empirical evidences of these studies conclude the involvement of behavioral biases and psychological impacts on investor’s judgments and decision making. Keeping this in mind the present study has focused on studying the impact of affect heuristic, fear …


The Arbitration Of Employment Disputes In The Securities Industry: A Study Of Finra Awards, 1986-2008, David B. Lipsky, Ronald L. Seeber, J. Ryan Lamare Jan 2013

The Arbitration Of Employment Disputes In The Securities Industry: A Study Of Finra Awards, 1986-2008, David B. Lipsky, Ronald L. Seeber, J. Ryan Lamare

David B Lipsky

[Excerpt] This article reports on the results of our recent study of 3,200 arbitration awards issued in employment cases administered under the auspices of FINRA, its predecessor the National Association of Securities Dealers (NASD), and the New York Stock Exchange (NYSE). It responds to Colvin’s call for more empirical research while providing some data on the debate over the fairness of mandatory employment arbitration agreements in the securities industry. After disclosing the limitations of our study and presenting our findings with regard to the FINRA cases, we consider how these findings bear on the debate about mandatory arbitration, specifically whether …


Alternative Estimators Of Cointegrating Parameters In Models With Non-Stationary Data: An Application To Us Export Demand, James Forest, Paul Turner Dec 2012

Alternative Estimators Of Cointegrating Parameters In Models With Non-Stationary Data: An Application To Us Export Demand, James Forest, Paul Turner

James J Forest

This paper presents Monte Carlo simulations which compare the empirical performance of two alternative single equation estimators of the equilibrium parameters in a dynamic relationship. The estimators considered are Stock and Watson’s dynamic ordinary least squares (DOLS) estimator and Bewley’s transformation of the general autoregressive distributed lag model. The results indicate that the Bewley transformation produces a lower mean-square error as well as superior serial correlation properties even with lower truncation lags for the lagged variables included in the estimation equation. An application is then provided which examines the nature of the equilibrium relationship between aggregate US exports, world trade …


Jump Processes In The Market For Crude Oil, Neil Wilmot, Charles Mason Dec 2012

Jump Processes In The Market For Crude Oil, Neil Wilmot, Charles Mason

Charles F Mason

In many commodity markets, the arrival of new information leads to unexpectedly rapid changes—or jumps—in commodity prices. Such arrivals suggest the assumption that log-return relatives are normally distributed may hold. Combined with time-varying volatility, the possibility of jumps offers a potential explanation for fat tails in oil price returns. This article investigates the potential presence of jumps and time-varying volatility in the spot price of crude oil and in futures prices. The investigation is carried out over three data frequencies (Monthly, Weekly, Daily), which allows for an investigation of temporal properties. Employing likelihood ratio tests to compare among four stochastic …


The Impact Of Internet-Based Services On Credit Unions: A Propensity Score Matching Approach, Elisabeta Pana, Sascha Vitzthum, David Willis Dec 2012

The Impact Of Internet-Based Services On Credit Unions: A Propensity Score Matching Approach, Elisabeta Pana, Sascha Vitzthum, David Willis

Elisabeta Pana

Credit unions focus their profit management on providing benefits to their members and augmenting their institutional well-being through capital accumulation. In this study, we investigate the changes in benefits to borrowing and saving members around the adoptions of transactional websites by credit unions for the period of 2000-2009. Using the propensity score matching method, we show that credit union adopters offered borrowing members a better interest rate than non-adopters immediately after the recession of 2001-2002 and a similar rate when economy rebounded. Our results indicate that transactional websites offer credit union members more convenient services with no negative impact on …


Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina Dec 2012

Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina

Luis Mundaca

Transaction costs (TCs) must be taken into account when assessing the performance of policy instruments that create markets for the diffusion and commercialization of low-carbon technologies (LCTs). However, there are no comprehensive studies on the development and application of transaction cost analysis to LCTs. In this meta-analysis, a wide-ranging evaluation of TCs associated with energy efficiency, renewable energy, and carbon market technologies is provided. There is a plethora of different definitions of, and measurement techniques to estimate, TCs. There is wide variation in the quantitative estimates, which can be attributed to factors such as the definition used, data collection, quantification …


Money Laundering And Abuse Of The Financial System, Hasmet Sarigul Dec 2012

Money Laundering And Abuse Of The Financial System, Hasmet Sarigul

Hasmet Sarigul

Every year, huge amounts of funds are obtained by illegal activities. These illegally obtained funds need a process, which is called laundering, in order to appear legitimately obtained and become usable. Although it is not possible to measure the exact volume of money laundering, the International Monetary Fund has stated that the aggregate amount of it in the world could be somewhere between two and five percent of the world’s gross domestic product. The main vehicle for criminals to launder their illicit money is the financial system. Money laundering threatens the credibility of international financial institutions. It undermines the financial …


Success In Gateway Courses: What Matters And What Can We Do?, Thomas D. Berry, Lori Cook, Nancy Hill, Kevin Stevens Dec 2012

Success In Gateway Courses: What Matters And What Can We Do?, Thomas D. Berry, Lori Cook, Nancy Hill, Kevin Stevens

Thomas D Berry

No abstract provided.