Business Strategies For Small Business Survival In Competitive Environments,
2022
Walden University
Business Strategies For Small Business Survival In Competitive Environments, Wangtzu Moualawtoua
Walden Dissertations and Doctoral Studies
The majority of small business auto dealerships in the United States close due to business failure within the first 3 years of operation. Small business auto dealership owners who lack business strategies risk financial loss resulting in business failure. Grounded in the resource-based view theory, the purpose of this qualitative multiple case study was to explore strategies small business auto dealership owners used to sustain organizations beyond 5 years. There were six participants, including owners and managers from three small business auto dealerships in Sacramento, California, who used strategies to sustain business operations beyond five years. Data were collected through …
Impact Of Islamic Financial Principles On Mitigating The Covid-19 Financial Crisis In Pakistan,
2022
Walden University
Impact Of Islamic Financial Principles On Mitigating The Covid-19 Financial Crisis In Pakistan, Mohammed Monzur Murshid
Walden Dissertations and Doctoral Studies
The COVID-19 pandemic caused a global financial crisis. Governments and central banks around the world took unprecedented measures to mitigate the effect of the pandemic-triggered financial crisis and maintain the stability of the financial system. The purpose of this cross-sectional quantitative study was to examine the capability of the Islamic financial system to mitigate the effect of the pandemic-induced financial crisis on the economy of Pakistan in 2020. The International Monetary Fund enhanced dynamic stochastic general equilibrium (IMF-DSGE) model provided the framework for this study. Data collection included conventional financial sector parameters, Islamic financial sector parameters, and country-level macroeconomic data …
Bubbles Through The Years: An Examination Of Unique And Analogous Characteristics Among Financial Manias From The South Sea Bubble To The Great Financial Crisis,
2022
Claremont Colleges
Bubbles Through The Years: An Examination Of Unique And Analogous Characteristics Among Financial Manias From The South Sea Bubble To The Great Financial Crisis, Matthew Hines
CMC Senior Theses
Throughout history, financial bubbles have been shrouded in fear and misunderstanding, with hope, greed, and hearsay fueling inane degrees of risk-taking amongst financial powerhouses and the common retail investor alike. While many studies have been conducted to delve into the unique attributes, causes, effects, and consequences of almost every crisis since adequate data could be recorded and preserved, it is not common for the varying types of crises to be directly compared in their core attributes and price movements. This paper conducts such an examination, with a look into ten different crises across the equity, real estate, and oil markets …
An Analysis Of Impacts Of Covid-19 On Salary Cap Allocation And Performance In The National Football League,
2022
Claremont Colleges
An Analysis Of Impacts Of Covid-19 On Salary Cap Allocation And Performance In The National Football League, Abai Houser
CMC Senior Theses
Professional sports are one of the most successful industries in the world. The live spectacle and in-person nature make sporting events a unique and individual experience. COVID-19 shifted how athletic events were operated, financed, and viewed, thereby changing leagues as well. The National Football League was one of the last sports to start its season during 2019 and 2020, setting the stage as the only league to not isolate its players in a safe operating space. This paper studies the effects of COVID-19 on the salary cap management of teams after the pandemic. The findings suggest that financial metrics analyzed …
How Punxsutawney Phil’S Predictions Affect The Stock Market: A Groundhog Day Analysis,
2022
Claremont Colleges
How Punxsutawney Phil’S Predictions Affect The Stock Market: A Groundhog Day Analysis, Jessica Cuna Zamora
CMC Senior Theses
With its roots dating back to 1887, Groundhog Day has cemented itself as a beloved American holiday where people gather to see if Punxsutawney Phil will predict 6 more weeks of winter, or an early arrival of spring. Utilizing the data and methodology framework from Shanaev, Savva, and Fedorova (2021) to test if Groundhog Day predictions have any effect on S&P 500 returns, this paper revisits and revises the analysis in attempt to replicate and improve the original findings with a dummy-variable regression while controlling for other calendar anomalies. Additionally, this study expands the original analysis by including two new …
Securing The Overnight Rates: A Study Of Alternative Reference Rates In Illiquid Overnight Tri-Party Repo Markets,
2022
Claremont Colleges
Securing The Overnight Rates: A Study Of Alternative Reference Rates In Illiquid Overnight Tri-Party Repo Markets, Michael Murphy
CMC Senior Theses
Since 2011, the London Interbank Offer Rate (LIBOR) has been on the way out for practitioners and researchers alike due to its manipulation in key bank quotes during the Great Financial Crisis (GFC). This paper intends to examine key rates being introduced as LIBOR substitutes, such as SOFR, BSBY, and Ameribor. Specific to its concern, the paper will back test these rates during times of illiquidity in both their respective markets and the broader financial markets to determine which rates will be able to sustain an abnormal drop in transaction volumes. Furthermore, this paper will try to determine whether a …
Young Firms, Old Capital,
2022
Yale University
Young Firms, Old Capital, Song Ma, Justin Murfin, Ryan Pratt
Faculty Publications
Across a broad range of equipment types and industries, we document a pattern of local capital reallocation from older firms to younger firms. Start-ups purchase a disproportion- ate share of old physical capital previously owned by more mature firms. The evidence is consistent with financial constraints driving differential demand for vintage capital. The local supply of used capital influences start-up entry, job creation, investment choices, and growth, particularly when capital is immobile. Meanwhile, as suppliers of used capital, in- cumbents accelerate capital replacement in the presence of younger firms. The evidence suggests previously undocumented benefits to co-location between old and …
A Comparison Of Ncreif, Inrev, And Anrev Open-End Core Fund Indices,
2022
Brigham Young University - Provo
A Comparison Of Ncreif, Inrev, And Anrev Open-End Core Fund Indices, Barrett A. Slade, Jeffrey D. Fisher, Joe D’Alessandro
Faculty Publications
Cross-border investment in non-listed real estate is on the rise. This article aims to compare the U.S. NFI-ODCE index with the European INREV ODCE index and the recently released Asian ANREV ODCE index with the hope that this study will be helpful to cross-border investors in these major markets. From 2016 through 2020 (five years), we found that the NCREIF fund count remained relatively flat, but the INREV and ANREV fund count increase steadily. At the end of 2020, NCREIF’s GAV was 270 billion dollars compared with INREVs 39 billion dollars and ANREV’s 16 billion dollars, a considerable size difference …
Borrowing To Save? The Impact Of Automatic Enrollment On Debt,
2022
Harvard University
Borrowing To Save? The Impact Of Automatic Enrollment On Debt, John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian, William L. Skimmyhorn
Faculty Publications
Does automatic enrollment into a retirement plan increase financial distress due to increased borrowing outside the plan? We study a natural experiment created when the U.S. Army began automatically enrolling newly hired civilian employees into the Thrift Savings Plan. Four years after hire, automatic enrollmentincreases cumulative contributions to the plan by 4.1% of annual salary, but we find little evidence ofincreased financial distress. Automatic enrollment causes no significant change in credit scores, debt balances excluding auto debt and first mortgages, or adverse credit outcomes, with the possible exception of increasedfirst-mortgage balances in foreclosure.
Can Gambling Increase Savings? Empirical Evidence On Prize- Linked Savings Accounts,
2022
Harvard University
Can Gambling Increase Savings? Empirical Evidence On Prize- Linked Savings Accounts, Shawn Cole, Benjamin Iverson, Peter Tufano
Faculty Publications
This paper studies the adoption and impact of prize-linked savings (PLS) accounts, which offer lottery-like payouts to individual account holders in lieu of interest. Using microlevel data from a bank in South Africa, we show that PLS is attractive to a broad group of individuals, with financially constrained individuals and those with no other deposit accounts particularly likely to participate. Individuals who choose to use PLS increase their total savings on average by 1% of annual income. Exploiting the random assignment of prizes,we present causal evidence that PLS substitutes for lottery gambling but is a complement to standard savings.
Decisions, Decisions, Decisions: Summer Activities For Anna!,
2022
University of Mary Washington
Decisions, Decisions, Decisions: Summer Activities For Anna!, David Henderson, John Marsh
Business
Anna Swanson will soon be home for the summer. Her parents John and Carol are trying to figure out the best way to keep Anna busy for the summer using a $400 gift from her grandmother. Given their budget, John and Carol must weigh the cost, benefits, and break-even points of options like a YMCA pool pass, amusement park pass, or various summer camps and try to find the best option or options that will keep young Anna busy during the summer.
How Flash Manufacturing Pmi Is Affecting The U.S. Stock Market. An Empirical Study,
2022
Faculty of Commerce and Accountancy
How Flash Manufacturing Pmi Is Affecting The U.S. Stock Market. An Empirical Study, Thurein Htet Myat
Chulalongkorn University Theses and Dissertations (Chula ETD)
This paper presents a comprehensive analysis of the relationship between the US Flash Manufacturing PMI news releases, returns, and volatilities of Russell 1000 and 2000 indexes. Using an autoregressive (AR) and generalized autoregressive conditional heteroskedasticity (GARCH) model, the study examines data from January 2015 to November 2022, encompassing both pre-pandemic, pandemic, and post-pandemic periods. The statistical analysis indicates that these news releases do not significantly influence stock returns, supporting the efficient market hypothesis. Various factors, including measurement errors and the unique circumstances of the Covid-19 pandemic, likely overshadowed the impact of PMI news releases. Additionally, the analysis finds no significant …
A Study Of Potential Factor Investing Strategy From Esg Score And Intangible Capital In Thailand,
2022
Faculty of Commerce and Accountancy
A Study Of Potential Factor Investing Strategy From Esg Score And Intangible Capital In Thailand, Issaraphorn Voratavornviwat
Chulalongkorn University Theses and Dissertations (Chula ETD)
The independent_study aimed to examine the relationship between Environmental, Social, and Governance (ESG) scores and Intangible Capital Ratio (ICR) and their implications for buy-and-hold returns (BHR) and stock performance among Thai listed companies. The study focuses on firms listed on the Stock Exchange of Thailand (SET) with available ESG scores, covering the period from 2018 to 2022 (169 companies). The finding for the first objective found that an increase in the ESG score leads to a rise in the ICR, these findings highlight the importance of ESG scores and company size & high BTM in determining a firm’s ICR. However, …
Effect Of Joining Paris Agreement To Green Bond Premium In Us Market,
2022
Faculty of Commerce and Accountancy
Effect Of Joining Paris Agreement To Green Bond Premium In Us Market, Onjira Sukijjakamin
Chulalongkorn University Theses and Dissertations (Chula ETD)
The paper investigates whether green bonds are priced at a premium compared to conventional bonds by analyzing the yield spread between green bonds and comparable conventional bonds (where a negative yield spread indicates a premium). The study also examines the factors influencing the yield difference including the effect of participating in Paris Agreement to the green bond premium. Initially, the paper expected to find a negative green bond premium, indicating that green bonds have lower yields than comparable conventional bonds, as investors are willing to accept lower yields for the ESG benefits associated with green projects. However, the paper obtained …
Is Greener Really Better? Stock Market Reaction To Green Bond Announcements, Evidence From Europe,
2022
Faculty of Commerce and Accountancy
Is Greener Really Better? Stock Market Reaction To Green Bond Announcements, Evidence From Europe, Niya Somkerd
Chulalongkorn University Theses and Dissertations (Chula ETD)
Employing an event-study approach, we examine how the stock market responded to the offering of green bonds by non-financial companies listed on the European stock market from January 2013 to September 2022. We observed a drop, on average about 0.28%, in the company stock prices on the day they announced these offerings and the day after. Moreover, we found that investors react in the same manner for green bond announcements as for conventional bond announcements. We also studied if the Gavriilidis (2021)'s climate policy uncertainty index has any relationship with the market reactions. Our findings suggest that the index is …
Post-Earnings Announcement Drift In Thai Reits - A Take From The Recent Pandemic,
2022
Faculty of Commerce and Accountancy
Post-Earnings Announcement Drift In Thai Reits - A Take From The Recent Pandemic, Chawan Ratapana
Chulalongkorn University Theses and Dissertations (Chula ETD)
The research explores the information content of earnings announcements in REITs operating in a market with less stable rental incomes. By examining the presence of Post-Earnings-Announcement Drift (PEAD) in Thai REITs, this study contributes to existing literature and investigates changes in market efficiency for REITs during the COVID-19 pandemic. Using the Earnings Announcement Returns (EAR) method, the study analyzes abnormal returns through visual analysis and a trust/firm-level regression framework. Findings indicate a PEAD effect as the baseline for abnormal returns in the local market, suggesting potential market inefficiencies. However, most variables in regression analysis do not significantly address the research …
The Effect Of Capital Ratio On Risk, Efficiency And Profitability Of Insurance Companies: Evidence From Singapore And Thailand,
2022
Faculty of Commerce and Accountancy
The Effect Of Capital Ratio On Risk, Efficiency And Profitability Of Insurance Companies: Evidence From Singapore And Thailand, Supanuch Limvisitsakul
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research study examines the importance of capital ratios in assessing the financial health of insurance companies in the context of Singapore and Thailand. The primary objective is to investigate the extent to which capital ratios provide informative insights into the risk, efficiency, and profitability of insurance companies. The study covers both life and non-life insurance companies during the period from 2017 to 2021. The findings show that higher capital ratios correspond to lower liquidity risk, improved efficiency, and increased profitability. These results emphasize the importance of maintaining adequate capital reserves to ensure financial stability and enhance operational performance in …
The Relationship Of Intangible Capital And Esg Score On Capital Structure: Evidence From Thailand,
2022
Faculty of Commerce and Accountancy
The Relationship Of Intangible Capital And Esg Score On Capital Structure: Evidence From Thailand, Chalita Rammavas
Chulalongkorn University Theses and Dissertations (Chula ETD)
This study examines whether intangible capital influences capital structure which influent to cost of debt. Moreover, this study also analyzes more whether adding the effect of and ESG performance as risk reduction together with intangible capital affect to capital structure by using financial leverage and WACC cost of debt as the dependent variable and using intangible capital and ESG performance as independent variable. The empirical results of this study show intangible capital and financial leverage are not relevant under these equations. Moreover, they also have no relationship between intangible capital and cost of debt, and there is a 10% chance …
2022 Finance Calendar,
2022
Utah State University
2022 Finance Calendar, Amanda Christensen, Melanie Jewkes, Andrea Schmutz, Vincenza Vicari-Bentley, Kristilyn Wilkinson
All Current Publications
Check off each small step monthly and see the drastic impact of improved personal finances over the course of the year. These short, actionable tips and related resources will have you in the driver’s seat with your money.
Governing Fintech 4.0: Bigtech, Platform Finance, And Sustainable Development,
2022
Kerry Holdings Professor in Law, RGC Senior Fellow in Digital Finance and Sustainable Development, and Associate Director, HKU-Standard Chartered Foundation FinTech Academy, University of Hong Kong
Governing Fintech 4.0: Bigtech, Platform Finance, And Sustainable Development, Douglas Arner, Ross Buckley, Kuzi Charamba, Artem Sergeev, Dirk Zetzsche
Fordham Journal of Corporate & Financial Law
Over the past 150 years, finance has evolved into one of the world’s most globalized, digitized, and regulated industries. Digitalization has transformed finance, but also enabled new entrants over the past decade in the form of technology companies, especially FinTechs and BigTechs. As a highly digitalized industry, incumbents and new entrants alike are increasingly pursuing similar approaches and models, focusing on the economies of scope and scale typical of finance and the network effects typical of data. Predictably, this has resulted in the emergence of large digital finance platforms. We argue that the combination of digitalization, new entrants (especially BigTechs), …
