Finance and Financial Management Commons^™

Ceo Characteristics, Ceo-Firm Match And Corporate Refocus Value, Sheng Huang

Research Collection Lee Kong Chian School Of Business

This paper investigates how CEO characteristics affect firm value through divestiture. Using a novel dataset tracking CEO’s career path, from which CEO’s talent and expertise are reasonably inferred, I find when CEOs have differing abilities across divisions of conglomerates, they more likely divest divisions that they are less qualified to manage, and focus on divisions of better match with their talents and expertise. The better match of their talents with firms’ retained assets is the source of value creation from refocusing divestiture. Divestitures that increase corporate focus but not improve the talent-asset match do not create value in long run. …

The Short-Term Dynamics Of Information Risk, Thomas Henker, Shah A. H. Shah-Idil, Jianxin Wang

Thomas Henker

We introduce an informational approach (IA) for exploring association between variables, an alternative to the prevalent parametric, thus restrictive, regression analysis. The IA uses data to (non-parametrically) construct the joint distribution of variables. Then, it uses theory to develop restrictions on the joint distributions. These restrictions will typically be orderings of functions of conditional distributions induced by the joint distribution. Finally, it attempts refuting the restrictions. We implement IA examining the relation between trading sizes and spreads, a main concern. Following insights and results of Milgrom (1981), Feldman (2004), and Feldman and Winer (2004), we use NYSE data and kernel …

2008-2009 Revised Operating Budget: Southern University At Shreveport, Southern University System: Office Of Finance & Administration.

All Southern University System Budgets

This and the accompanying forms, statements and explanations comprising of 45 sheets, including Intercollegiate Athletic Budget each of which has been approved by me, constitute the actual Southern University at Shreveport operating budget for fiscal year 2007-2008.

2008-2009 Revised Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Higher Education Revised Operating Fund Budget Fiscal Year Ending June 20, 2009.

Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio

Faculty Working Papers

The Public Company Accounting Oversight Board (PCAOB) has responsibility for monitoring public accounting firms that provide audits for publicly owned companies. Among the duties assigned to the PCAOB was “conducting inspections of registered public accounting firms.” A strategy for such inspections was developed that includes reporting deficiencies judged to be significant for supporting conclusions made.

This paper presents a content analysis of deficiencies disclosed in the nine inspections (during three years) of three accounting firms, along with the largest four firms, that are inspected each year. Also discussed are the general implications for auditing teaching in colleges/universities and in continuing …

Integrated Financial Supervision For Nigeria: Emerging Issues And Challenges., Anachi Arua

Bullion

In the supervisory architecture of financial institutions have been of interest to policymakers and the academic. It began to be discussed in the late eighties when the Scandinavian countries were establishing a single supervisory authority in their country. The discussion heated up in the late nineties when the United Kingdom created the Financial Services Authority (FSA) and continued in this decade as many developed and developing countries consider the adoption of more integrated supervision structures. The paper considers the issues of separation of financial supervision from central banking and the rationale and challenges of establishing on integrated supervision structure in …

Consolidated Supervision Of Banks: Concept And Practices, U. Kama

Bullion

The paper has considered two basic issues in financial supervision. These are the separation of financial supervision from central banking and the rationale and challenges of establishing an integrated supervision structure in Nigeria. lt identified three basic functions of financial supervision as micro prudential, macro prudential and conduct-of-business supervision, which address systemic stability, financial soundness of individual institutions and consumer protection respectively . The paper is divided into six sections. Following this introduction is section ll which examines the conceptual and theoretical issues in consolidated supervision. Section lll reviews the experience of other jurisdictions in the practice of consolidated supervision. …

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 …

Digital Storytelling Engages Tech-Savvy Accounting Students, Knowledge@Smu

Knowledge@SMU

Singapore has ambitions to become a global hub for `digital economy’ services. In September 2008, Singapore’s National Library Board, National Book Development Council and The Arts House are hosting the inaugural Asian Digital Storytelling Congress, Beyond Words 2008. Themin Suwardy, accountancy professor and associate dean at Singapore Management University, is one of the key speakers at the congress. His topic: Academic Learning through Digital Storytelling.

Editor's Introduction: Social Capital, Paul C. Godfrey

Journal of Microfinance / ESR Review

No abstract provided.

Keys To Understanding Your Social Capital, Brian Uzzi

Journal of Microfinance / ESR Review

No abstract provided.

Reciprocal Dynamics: Social Capital And Microcredit, Warner P. Woodworth

Journal of Microfinance / ESR Review

No abstract provided.

Social Capital: The Benefits, Potential Costs, And Prospects, Moses Acquaah

Journal of Microfinance / ESR Review

No abstract provided.

Diasporas: Exploring Their Development Potential, Liesl Riddle

Journal of Microfinance / ESR Review

No abstract provided.

Front Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Mfdi Actively Promotes International Research, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

End Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Svc Winners Go A Step Further, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Single Mom Initiative Enters The Next Phase, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Bottom Billion, Ben Lewis

Journal of Microfinance / ESR Review

No abstract provided.

Law As Relationship: Toward A More Effective And Ethical Legal Reform, Wade Channell

Journal of Microfinance / ESR Review

No abstract provided.

Vol. 10 No. 2 Esr Review, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Home Biased Analysts In Emerging Markets, Sandy Lai, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

We find that local analyst recommendations are systematically more optimistic than foreign analyst recommendations in emerging markets. The effects of this novel home bias among local analysts overwhelm any information asymmetry between foreign and local analysts. Consequently, local analyst upgrades underperform foreign analyst upgrades, while local analyst downgrades outperform foreign analyst downgrades. Neither foreign investors, local institutions, nor retail investors appear to be fully cognizant of this bias. Trade reactions suggest that foreign investors overestimate the bias in foreign analyst recommendations while local institutions underestimate the bias in local analyst recommendations. These results are pervasive across countries, time periods, and …

The Chilean Pension System At 25 Years: The Evolution Of A Revolution, Gregory J. Buchholz, Alberto Coustasse, Patricio Silva, Peter Hilsenrath

Management Faculty Research

The 1981 reform of the Chilean pension system was revolutionary at its time. It was the first instance of a mature public Pay-As-You-Go social security system being converted into a mandatory defined contribution system managed by the private sector. This paper contends that a unique confluence of events were responsible for this change. The rise of a dictatorship in Chile, a struggling public retirement system, and a cadre of Chicago oriented economists determined to make Chile a model free market neoliberal economy. This was later followed by the Washington Consensus and the promotion of Chilean reform by the World Bank. …

Software Nightmares, Manoj Thulasidas

Research Collection School Of Computing and Information Systems

To err is human, but to really foul things up, you need a computer. So states the remarkably insightful Murphy’s Law. And nowhere else does this ring truer than in our financial workplace. After all, it is the financial sector that drove the rapid progress in the computing industry – which is why the first computing giant had the word “business” in its name. The financial industry keeps up with the developments in the computer industry for one simple reason. Stronger computers and smarter programs mean more money — a concept we readily grasp. As we use the latest and …

Research On The Feasibility And Necessity Of Finance Logistics Outsourcing In China, Junwei Chen

World Maritime University Dissertations

No abstract provided.

The Cost Analysis Of Liner Shipping Business, Yue Huang

World Maritime University Dissertations

No abstract provided.

Managerial Incentives And The Choice Between Public And Private Debt, Costanza Meneghetti

Finance Dissertations

This paper proposes that managerial incentive compensation affects the firm choice between public and bank debt. To motivate the case I analyze a simple model with complete and perfect information that implies a positive relation between managers’ incentive compensation and preference toward bank debt. Using firm-level data over the period 1992-2005, I empirically examine the relation between managerial incentives and financing decisions. Specifically, I examine whether managers whose compensation is tied to firm performance choose bank over public debt as a commitment mechanism to reduce the cost of debt. Consistent with a monitoring role of banks, I find that the …

2008-2009 Higher Education Inter-Institutional Cost Transfers Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University System Administration & Board of Supervisors Higher Education Inter-Institutional Cost Transfers Budget, Fiscal Year Ending June 30, 2009

The Asian Banker: From Trade Journal To Industry Benchmark Setter, Knowledge@Smu

Knowledge@SMU

Emmanuel Daniel is founding president and editor-in-chief of The Asian Banker, one of the region’s leading consultancies in financial services research, benchmarking and intelligence. A trade publisher should provide leadership and not be a follower of the industry that it covers, believes Daniel, who spoke recently at a Masters Seminar on benchmarking and measuring IT performance in banks organised by the School of Information Systems, Singapore Management University.