Finance and Financial Management Commons^™

Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula

MBA Faculty Conference Papers & Journal Articles

With the vast array of resources available to instructors, one would think that instruction and teaching would yield success for all learners. Now, well into the 21^st century has much changed in the classroom? Certainly, movable desks and chairs, advanced audio and visual equipment, and a plethora of all types of technologies which might be able to enhance training and education. Over the last several decades research on individualized instruction, cognitive science, educational psychology, and multimedia instruction (to name a few) have permeated the literature on instruction. With all the research and the vast array of studies on improving …

Disposition Effect And Multi-Asset Market Dynamics, Heba M. Ezzat Dr.

Business Administration

Purpose – Asset pricing dynamics in a multi-asset framework when investors’ trading exhibits the disposition effect is studied. The purpose of this paper is to explore asset pricing dynamics and the switching behavior among multiple assets. Design/methodology/approach – The dynamics of complex financial markets can be best explored by following agent-based modeling approach. The artificial financial market is populated with traders following two heterogeneous trading strategies: the technical and the fundamental trading rules. By simulation, the switching behavior among multiple assets is investigated. Findings – The proposed framework can explain important stylized facts in financial time series, such as random …

Masked Instability: Within-Sector Financial Risk In The Presence Of Wealth Inequality, Youngna Choi

Department of Applied Mathematics and Statistics Faculty Scholarship and Creative Works

We investigate masked financial instability caused by wealth inequality. When an economic sector is decomposed into two subsectors that possess a severe wealth inequality, the sector in entirety can look financially stable while the two subsectors possess extreme financially instabilities of opposite nature, one from excessive equity, the other from lack thereof. The unstable subsector can result in further financial distress and even trigger a financial crisis. The market instability indicator, an early warning system derived from dynamical systems applied to agent-based models, is used to analyze the subsectoral financial instabilities. Detailed mathematical analysis is provided to explain what financial …

Subjectivity Of Diamond Prices In Online Retail: Insights From A Data Mining Study, Stanislav Mamonov, Tamilla Triantoro

Department of Information Management and Business Analytics Faculty Scholarship and Creative Works

Diamonds belong to a unique product category whose perceived value is largely dependent on socially constructed beliefs. To explore the degree to which the physical properties of a diamond can be used to predict the diamond price, we perform data mining on a large dataset of loose diamonds scraped from an online diamond retailer. We find that diamond weight, color and clarity are the key characteristics that influence diamond prices. The data mining results also suggest a high degree of subjectivity in diamond pricing that may reflect price obfuscation strategies employed by diamond retailers.

Glossary Of Business Evidence, Paul C. Boyd

MBA Faculty Conference Papers & Journal Articles

No abstract provided.

Industry Tournament Incentives, Zhichuan Li

Business Publications

We empirically assess industry tournament incentives for CEOs, as measured by the compensation gap between a CEO at one firm and the highest-paid CEO among similar (industry, size) firms. We find that firm performance, firm risk, and the riskiness of firm investment and financial policies are positively associated with the external industry pay gap. The industry tournament effects are stronger when industry, firm, and executive characteristics indicate high CEO mobility and a higher probability of the aspirant executive winning.

Some Applications Of Higher-Order Hidden Markov Models In The Exotic Commodity Markets, Heng Xiong

Electronic Thesis and Dissertation Repository

The liberalisation of regional and global commodity markets over the last several decades resulted in certain commodity price behaviours that require new modelling and estimation approaches. Such new approaches have important implications to the valuation and utilisation of commodity derivatives. Derivatives are becoming increasingly crucial for market participants in hedging their exposure to volatile price swings and in managing risks associated with derivative trading. The modelling of commodity-based variables is an integral part of risk management and optimal-investment strategies for commodity-linked portfolios. The characteristics of commodity price evolution cannot be captured sufficiently by one-state driven models even with the inclusion …

The Emerging International Taxation Problems, James G. Yang, Victor N.A. Metallo

Department of Accounting and Finance Faculty Scholarship and Creative Works

The problems of tax evasion and tax avoidance are as old as taxes themselves. Between 2015 and 2016 alone, many U.S. multinational corporations were involved in tax disputes with the European Commission. From a historical perspective, these disputes are unprecedented as they have resulted in tremendous amount of tax penalties. The most notable case was Apple for €13 billion of unpaid tax. This article discusses what tax strategies these corporations used that caused such disputes. It specifically investigates seven corporations: Apple Inc., McDonald’s, Starbucks, Fiat, Amazon, Google, and Ikea, and elaborates on the following tax strategies: high royalties, intercompany transfer …

Financial Literacy In Appalachian Kentucky With A National Comparison, Tanya Noah

Walden Dissertations and Doctoral Studies

Financial literacy is a national problem; many studies confirmed that Americans have low levels of financial literacy. There is little to no research about financial literacy in Appalachia, and the level of financial literacy was unknown for Appalachian Kentucky. There is a problem deserving attention which can be seen by examination of the 3 key financial indicators. Many researchers found the Appalachian Kentucky region deficient regarding poverty rates, unemployment rates, and personal income rates. The purpose of this study was to develop a baseline level of financial literacy of Appalachian Kentuckians and to compare it to national levels. Becker's theory …

Virtual Worker Perceptions Of Retention In The Financial Services Industry, Shelly Zaldivar

Walden Dissertations and Doctoral Studies

As the need for cost-efficient, talented teams continues to grow, leaders often consider the use of globally dispersed teams, also defined as virtual teams. Despite the apparent benefits, the unique needs of virtual team members are often overlooked in general leadership, change management, and retention discussions. Leaders need to understand contributing factors to the attrition of virtual workers. The foundation for this research included theories of employee retention and change management. The research question for this qualitative phenomenological study focused on the lived experiences of current or former virtual financial services workers regarding job retention. Participants were chosen using purposeful …

Leadership Strategies To Reduce Employees' Occupational Stress, Ransford George Davidson

Walden Dissertations and Doctoral Studies

Job-related aspects of the work environment, such as work pressure, workload, leadership, and management support cause occupational stress and increase costs to organizations. Grounded in the job demands-resources model theory, the purpose of this single case study was to explore strategies some bank managers use to reduce employees' occupational stress. The interview process included 5 managers employed at a bank in the Caribbean who successfully implemented strategies that reduced employees' occupational stress. The data collection and analysis process involved face-to-face, semistructured interviews and analysis of organizational documentation. Using the exploratory approach in data analysis, data were systematically integrated, evaluated, and …

Correlates Of Job Satisfaction Among Bank Employees In Nigeria, Nosayaba Ernest Oumwense

Walden Dissertations and Doctoral Studies

Job dissatisfaction among bank employees may adversely influence the financial performance of banks due to employee turnover, decreased productivity, poor service quality, decreased customer satisfaction, and negative employee attitudes in the workplace. The purpose of this correlational study was to examine how work on the present job, pay, opportunities for promotion, supervision, and coworker relationships predict job satisfaction among bank employees in Nigeria. The population of the study was 167 bank employees in 3 commercial banks in Nigeria. The 2-factor theory (TFT) served as the theoretical foundation in this study. Data collection was through a survey instrument called the job …

Strategies Construction Managerial Leaders Use To Counteract Material Cost Overruns, Daniel John Van Der Kuyp

Walden Dissertations and Doctoral Studies

The project cost overruns instigated through the loss of construction materials lowers the profitability of each stakeholder significantly. The purpose of this single case study was to explore strategies managerial leaders of a large construction firm used to counteract material cost overruns successfully. The diffusion of innovation theory was the conceptual framework for this study. The target population consisted of 6 managerial leaders with experience in large construction projects adhering to waste management standards and industry certifications. Data were collected using semistructured interviews and review of company documentation. The data analysis approach involved the content analysis research method to interpret …

Financial Crowding Out Of Ghanaian Private Sector Corporations, Andrews Kwablah

Walden Dissertations and Doctoral Studies

The government of Ghana borrows from both domestic and foreign sources to finance the budget deficit. By the year 2013, the domestic debt was 55% of the public debt. Government domestic borrowing is competitive and can potentially crowd out the private corporate sector. Therefore, the specific research problem addressed in this study was whether the Ghanaian government's domestic debt (DEBT) caused financial crowding out (FCO) in Ghana. FCO theory is not conclusive and not proven specifically for Ghana, so the purpose of this research was to investigate its presence in Ghana. The neoclassical theory of FCO underpinned the research. The …

Share Retention, Underwriter Reputation, And Initial Public Offering Underpricing, Marcia Yvonne Reid-Grant

Walden Dissertations and Doctoral Studies

Initial public offering (IPO) underpricing is a costly practice that decreases the IPO proceeds accruing to the issuing firms and can derail a firm's growth objectives. The purpose of this correlational study was to determine the relationship between share retention, underwriter reputation, and IPO underpricing among a population of IPOs issued in Jamaica. The efficient market hypothesis served as the theoretical framework for this study. Archived data for 52 IPOs issued in Jamaica from 1986 to 2018 were collected and Spearman's correlation matrix and heteroscedasticity-consistent standard errors regression analysis were applied. The outcomes of this study indicated no significant relationship …

Managerial Strategies To Sustain Small Auto Repair Businesses, Osaka Kugblenu Tetteh-Odonkor

Walden Dissertations and Doctoral Studies

Small auto repair business owners need strong operational skills; however, some lack expertise in managerial strategy. The purpose of this multiple case study was to identify managerial strategies small auto repair business owners use to sustain businesses in Columbus, Ohio with respect to strategy, time management, and alteration of value chain services. Based on the Vroom expectancy theory of motivation, small auto repair business owners may use effectiveness and efficiency of business performance with particular emphasis on managerial strategic development and execution to enhance financial results and rewards. Data collection involved face-to-face, semistructured interviews with 5 small auto repair business …

Characteristics Of Stocks And Individual Investor Herd Behavior: A Causal-Comparative Study, Tze Sun Wong

Walden Dissertations and Doctoral Studies

Some individual investors follow institutional investors in trading, a phenomenon called herding, that leads to excess market volatility and mispriced stocks. Individual investors who herded suffered from inferior investment performances and monetary losses, and the impact is broader in an individual investor dominant market such as Taiwan. Behavioral finance is the theoretical base of herd behavior. The purpose of this causal-comparative study was to examine individual investor herd behavior as related to characteristics of stocks in the Taiwan stock market. The research questions addressed what differences in individual investor herd behavior, if any, existed by market capitalization, price-to-book (P/B) ratio, …

Compliance Strategies To Reduce The Risks Of Money Laundering And Terrorist Financing, Cassandra Nottage

Walden Dissertations and Doctoral Studies

Ineffective compliance programs expose banking and trust companies to increased risk of money laundering (ML) and terrorist financing (TF). Using risk management theory, the purpose of this multiple case study was to explore compliance strategies that Bahamian bank and trust company managers use to reduce ML/TF risks. Study participants comprised 7 senior risk and compliance managers experienced in risk strategy development and implementation. Semistructured interview data were triangulated with data collected from internal policy and procedural documents, publicly available papers of the Financial Action Task Force on Money Laundering (FATF), the Basel Committee on Banking Supervision (BCBS), and the Central …

Improving Access Of Small Business Owners To Microloan From Microfinance Institutions In Nigeria, Hyeladzira Mshelia Ochonogor

Walden Dissertations and Doctoral Studies

Abstract

Most microloan applicants in Nigeria are denied access to financial services by the commercial banks because of the high risk involved in granting loans to an individual without tangible assets to offer as collateral. The purpose of this qualitative multiple case study was to explore small business owners' understanding of suitable funding options from microfinance banks in Nigeria to sustain their businesses beyond the first 5 years. An investigation was conducted on how small business owners could obtain information on funding options most suitable to sustain their business. Guided by the ethical banking operations framework theory, the strategies business …

Strategic Working Capital Sourcing Strategies For The Survival Of Small Businesses, Gregory Smith

Walden Dissertations and Doctoral Studies

Fifty percent of small businesses fail before attaining their 5-year anniversary. The lack of sufficient working capital is one of the major reasons for small business failure. Pecking order theory was employed as the conceptual framework for this multiple case study to explore the working capital sourcing strategies of 6 purposely selected successful small business owners in the Southeast region of the United States used to sustain their businesses beyond 5 years. Data sources included semistructured interviews and company documents. Data analysis included thematic coding of the material using statistical software. The modified Van Kaam method was used to analyze …

Effective Strategies For Venture Capital Evaluations Of Organizations' Drug Development Capabilities, Roslyn Chand

Walden Dissertations and Doctoral Studies

Undercapitalization is a major impediment for the growth and survival of Canadian life sciences firms. Proficient management teams are the 'sine qua non' criteria in the venture capital decision-making processes. The purpose of this multicase study was to explore strategies successful venture capitalists use to improve their evaluation processes of life sciences management teams' drug development capabilities. The conceptual framework for this study was based on business process management. The purposeful sample consisted of 10 venture capitalists located in the United States and Canada who had expertise evaluating life sciences management teams. The data were triangulated from semistructured interviews, annual …

Corporate Governance Implementation In The Nigerian Banking Industry, David Nkata Bassey

Walden Dissertations and Doctoral Studies

The increasing level of fraud, the collapse of banks, and the loss of confidence in the Nigerian banking industry have been attributed to poor corporate governance. The problem of this study was effective implementation of corporate governance in Nigeria where multiple regulations are in place. The purpose of this qualitative single case study was to understand how corporate governance is implemented in the Nigerian banking industry in the face of a multiplicity of regulations. The research question investigated how Nigerian bank managers implement corporate governance regulations in the face of a multiplicity of regulations. The conceptual framework was grounded in …

Strategies For Reducing Corporate Accountants' Turnover Through Implementing Workplace Flexibility, Elizabeth Nwoseh-Streeter

Walden Dissertations and Doctoral Studies

Flexibility in the workplace is no longer perceived as a benefit to employees but as a requirement for organizations to remain competitive. Financial compensation alone may be insufficient to encourage employee retention. The purpose of this qualitative, single case study was to explore the strategies that corporate accounting and finance leaders implement to promote workplace flexibility for increasing accountants' retention. The conceptual framework for this study was Karasek's demand control support framework. The research sample consisted of 6 corporate accounting and finance leaders who had a history of successfully implementing a workplace flexibility program. Data analysis consisted of compiling the …