Finance Commons^™

Desempeño Financiero Y Comercial Del Sector Pecuario Colombiano Posterior A La Crisis Bilateral Colombia Venezuela 2009 2013, Camilo Andrés García Mendivelso, María Alejandra González Mejía, Catherine Larrota Prieto

Finanzas y Comercio Internacional

Esta investigación evalúa el desempeño comercial y financiero del sector pecuario colombiano posterior a la crisis bilateral Colombia-Venezuela entre los años 2009-2013, mediante una metodología de carácter mixto, compuesta por dos enfoques uno cualitativo y otro cuantitativo. Por medio de ellos, se realizó una contextualización de la situación del sector a través de un análisis estadístico sobre las variables: exportaciones, importaciones, balanza comercial y Producto Interno Bruto-PIB referentes al sector pecuario colombiano. Por otro lado, se realizó una matriz de análisis para identificar los efectos financieros y comerciales que tuvo la legislación promulgada por el gobierno de Colombia, con el …

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 …

Malaysian Equities: A Sector Analysis Of Risk And Normality, Robert J. Powell

Research outputs 2014 to 2021

This study uses Value at Risk (VaR) and Conditional Value at Risk (CVaR) metrics to measure the relative riskiness of sectors for Malaysian equities. VaR is a widely used volatility measure, but only measures risk below a specified threshold, whereas CVaR looks at risk beyond that threshold. The study finds that the relative risk of sectors changes with changing economic circumstances as measured by VaR, but remains significantly the same as measured by CVaR. Parametric (normally distributed) measures of VaR are compared to nonparametric measures, and it is found, consistently across all sectors, that parametric measures are not suitable measures …

The (Il)Legitimacy Of Bankruptcies For The Benefit Of Secured Creditors, Charles W. Mooney Jr.

All Faculty Scholarship

This paper explores the legitimacy—or illegitimacy—of filing and maintaining a case under the Bankruptcy Code when the sole or principal beneficiary or beneficiaries of the case would be a secured creditor or secured creditors. In the situation posited here, the application of the usual distributional priority rules would not produce any distribution for the general, unsecured creditors of the debtor. In the prototypical case virtually all of the assets of the debtor would be subject to secured claims securing obligations that exceed the value of the collateral, i.e., the secured creditor would be undersecured and there would be no equity …

The Cape Town Convention’S Improbable-But-Possible Progeny Part Two: Bilateral Investment Treaty-Like Enforcement Mechanism, Charles W. Mooney Jr.

All Faculty Scholarship

This Essay is Part Two of a two-part essay series that outlines and evaluates two possible future international instruments. Each instrument draws substantial inspiration from the Cape Town Convention and its Aircraft Protocol (together, the “Convention”). The Convention governs the secured financing and leasing of large commercial aircraft, aircraft engines, and helicopters. It entered into force in 2006. It has been adopted by sixty-six Contracting States (fifty-eight of which have adopted the Aircraft Protocol), including the U.S., China, the E.U., India, Ireland, Luxembourg, Russia, and South Africa.

This Part of the Essay explores whether an investor-state dispute settlement (ISDS) feature …

Expectations And The Dynamic Feedback Between Foreign Direct Investment And Economic Growth, Diego Escobari, Diego E. Vacaflores

Economics and Finance Faculty Publications and Presentations

This paper seeks to analyze the dynamic feedback between Foreign Direct Investment (FDI) and economic growth – larger FDI promotes higher GDP, while higher GDP can be achieved with higher levels of FDI. We use panels and a sample of 19 Latin American countries to estimate a dynamic FDI and a dynamic GDP equation that jointly characterize the evolution of both variables. We find that the dynamics of GDP and FDI are mostly driven by the expectations. Shocks of GDP or FDI were found to play no role affecting the dynamics.

Promoting Bold Investment In Renewable Energy Research And Development, Melanie C. Paty

CMC Senior Theses

This thesis discusses the potential for private investment to fund ambitious renewable energy research and development to help mitigate climate change. I begin by discussing the threat of global warming and a brief history of renewable energy development in the United States. Next, I discuss existing avenues for private investment in renewable energy, potential methods of increasing corporate participation, and the belief that businesses must maximize only financial profits. Then I perform an in-depth case study of pension funds that have incorporated a social or environmental mission, existing environmentally focused mutual funds, and liquidated clean energy mutual funds. Finally, I …

Análisis De La Estructura De Financiamiento De Las Pyme Agropecuarias De Cundinamarca Y El Impacto Que Tiene En La Sostenibilidad Empresarial Durante El Periodo 2008-2012, Mary Liliana Avellaneda Candil, Juan Sebastián Cáceres Muñoz

Finanzas y Comercio Internacional

El presente trabajo de investigación pretende desarrollar una metodología en base a fundamentos como los de Modigliani & Miller, teorías como las del Pecking Order, Trade off, Z-Score y el cálculo del valor económico agregado y razones financieras, en donde se busca en primer, lugar vislumbrar la evolución histórica y determinar los factores influyentes en la decisión de la composición de la estructura de financiamiento de las PYME del sector agropecuario de Cundinamarca en el periodo 2008-2012. Después del desarrollo de la metodología propuesta, se llega a la aceptación de la hipótesis, donde efectivamente, dadas las condiciones actuales para acceder …

Aglomeración Productiva De Línea Deportiva Ubicada En El Barrio Siete De Agosto, Localidad De Barrios Unidos En La Ciudad De Bogotá, Sandra Milena Rivera Prieto, Tania Fernanda Palacios Bohórquez

Finanzas y Comercio Internacional

Las aglomeraciones y los sistemas productivos locales han sido una herramienta útil para impulsar tanto el crecimiento como el desarrollo económico, social y territorial. Actualmente la ciudad de Bogotá cuenta con PYMES concentradas en lugares y sectores específicos, las cuales carecen de un estudio que determine sus principales características. Por lo anterior, se requiere determinar los alcances de una de las aglomeraciones de la ciudad. La aglomeración productiva de línea deportiva del barrio Siete de Agosto, con el fin de determinar el grado de crecimiento y desarrollo que esta genera en el sector. Teniendo en cuenta lo anterior, es necesario …

Determinación Del Mecanismo Más Idóneo De Mitigación Del Riesgo Cambiario Para Floricultores Colombianos, A Partir De La Comparación De Coberturas Entre Opciones Y Forwards, Yuly Quiceno Russi, Viviana Salamanca Guevara, Tatiana Silva Bueno

Finanzas y Comercio Internacional

Uno de los mayores problemas para los exportadores de flores colombianos es la falta de herramientas para sobrellevar escenarios de revaluación, del peso frente al dólar, la cual afecta en primera instancia sus ingresos y hace que pierdan competitividad en el mercado global, por esta razón es necesario generar cobertura de tipo de cambio a través de herramientas eficientes del mercado de derivados, para esto en el presente trabajo se evalúan las Opciones y los Forwards con el fin de encontrar el mecanismo de cobertura cambiaria que genere mayores beneficios al gremio, el cual está basado en la hipótesis de …

Federal Securities Fraud Litigation As A Lawmaking Partnership, Jill E. Fisch

All Faculty Scholarship

In its most recent Halliburton II decision, the Supreme Court rejected an effort to overrule its prior decision in Basic Inc. v. Levinson. The Court reasoned that adherence to Basic was warranted by principles of stare decisis that operate with “special force” in the context of statutory interpretation. This Article offers an alternative justification for adhering to Basic—the collaboration between the Court and Congress that has led to the development of the private class action for federal securities fraud. The Article characterizes this collaboration as a lawmaking partnership and argues that such a partnership offers distinctive lawmaking advantages. …

Introduction To Institutional Investor Activism: Hedge Funds And Private Equity, Economics And Regulation, William W. Bratton, Joseph A. Mccahery

All Faculty Scholarship

The increase in institutional ownership of recent decades has been accompanied by an enhanced role played by institutions in monitoring companies’ corporate governance behaviour. Activist hedge funds and private equity firms have achieved a degree of success in actively shaping the business plans of target firms. They may be characterized as pursuing a common goal – in the words used in the OECD Steering Group on Corporate Governance, both seek ‘to increase the market value of their pooled capital through active engagement with individual public companies. This engagement may include demands for changes in management, the composition of the board, …

From Chrysler And General Motors To Detroit, David A. Skeel Jr.

All Faculty Scholarship

In the past five years, three of the most remarkable bankruptcy cases in American history have come out of Detroit: the bankruptcies of Chrysler and General Motors in 2009, and of Detroit itself in 2012. The principal objective of this Article is simply to show that the Grand Bargain at the heart of the Detroit bankruptcy is the direct offspring of the bankruptcy sale transactions that were used to restructure Chrysler and GM. The proponents of Detroit’s “Grand Bargain” never would have dreamed up the transaction were it not for the federal government-engineered carmaker bankruptcies. The Article’s second objective, based …

The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, Jill E. Fisch

All Faculty Scholarship

Since the 2008 financial crisis, in which the Reserve Primary Fund “broke the buck,” money market funds (MMFs) have been the subject of ongoing policy debate. Many commentators view MMFs as a key contributor to the crisis because widespread redemption demands during the days following the Lehman bankruptcy contributed to a freeze in the credit markets. In response, MMFs were deemed a component of the nefarious shadow banking industry and targeted for regulatory reform. The Securities and Exchange Commission’s (SEC) misguided 2014 reforms responded by potentially exacerbating MMF fragility while potentially crippling large segments of the MMF industry.

Determining the …

What Is A Lien? Lessons From Municipal Bankruptcy, David A. Skeel Jr.

All Faculty Scholarship

From the outset of Detroit’s bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit’s promise to use its “full faith and credit” for repayment? What about Detroit’s pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.

Part I of the Article briefly …

"Microfinance As A Determinant Of Domestic Violence In Bangladesh: Who Is At Risk?", Alvin Christian

Dissertations and Theses

This paper examines the impact that microfinance participation has on reported domestic violence rates among women in Bangladesh. While microfinance programs are aimed at reducing poverty, they may have unintended consequence and contribute to domestic violence or Intimate Partner Violence (IPV). Using nationally representative data from the Urban Health Survey (2006), I study the association between microfinance participation and domestic violence among currently married women. The outcome variable is domestic violence, which is coded as a dummy variable, where a women either has experienced domestic violence episodes or she hasn’t. Predictor variables include microfinance participation, community attitudes, liberal views, labor …

World Bank, Agriculture And Policy: A Case Study In Ghana And Ethiopia, Steven Margel

Dissertations and Theses

This thesis tests the effectiveness of the World Bank’s agricultural-aid policy by examining case studies in Ghana and Ethiopia in the period of 2000-2010. Each study examines the policy context, project/program success, overall human development results, and threats to sustainability, of agricultural aid. The primary hypothesis of the paper is that participatory processes and inclusive institutions will prove to be decisive factors. Each case is tested against this political view of aid in addition to three additional images (Destructive, Ineffective, Effective Technical), in order to ensure a comprehensive review.

The Ghana case showed a lack of participation in forming the …

Futuros De Carbón No Locales Como Estrategia De Cobertura Estudio De Caso: Francoal, Moisés De Jesús Beltrán Huertas, Leidy Katterine Pauna Díaz

Finanzas y Comercio Internacional

El precio internacional del carbón en los últimos cuatro años se ha visto influenciando de manera negativa, esto en gran medida por el aumento de la oferta internacional proveniente de países como China y Estados Unidos, principales países productores. Esta caída ha repercutido directamente en las empresas exportadoras de carbón en Colombia, ya que los ingresos provenientes de esta actividad se han visto reducidos, especialmente las pequeñas y medianas empresas. Por este motivo es necesario implementar estrategias que permitan estabilizar los ingresos a través de la gestión del riesgo, actualmente los derivados financieros representan un alternativa para lograr dicha estabilidad. …

Tendencias De Responsabilidad Social Empresarial En El Sistema De Gestión De Seguridad Y Salud En El Trabajo De Colombia Como Aporte A La Competitividad En Los Sectores De Minería Y Construcción, Respecto A Argentina, Chile Y Perú. Para El Periodo De 2008 - 2012, María Alejandra Umaña Castellanos, Oscar Iván Velasco Rojas

Finanzas y Comercio Internacional

La intención primordial de ésta investigación es evaluar el Sistema General de Salud y Seguridad en el trabajo (SG-SST) de los sectores de Minería y construcción en Colombia, con respecto a la gestión que adelantan Argentina, Chile y Perú en esta área. El análisis inicia determinando el marco que regula el SG-SST en Colombia, con respecto a los demás países. Seguidamente se realiza el análisis de diferentes variables financieras, económicas y sociales que evidencian el avance de los sectores en Colombia; lo anterior, mediante la realización de una matriz de posición estratégica que incluye la evaluación de variables que resultan …

Successfully Financing Classical Music Kickstarter Projects, Sarah Chung

Scripps Senior Theses

With the rise of technology and finance, crowdfunding has been uprising as a popular method of financing projects. Kickstarter provides an online platform in which anyone with Internet access can upload their own project “pitch” to gain funding for their idea on an all-or-nothing model. My thesis explores financial trends and factors that potentially contribute to a successful Kickstarter campaign within the classical music projects subcategory. I use a logistic regression and the Ordinary Least Squares model to examine a dataset of already successfully funded projects and a second dataset that contains both successfully and unsuccessfully funded projects that were …