Finance and Financial Management Commons^™

Sale-Leaseback Transactions: Price Premiums And Market Efficiency, C. F. Sirmans, Barrett A. Slade

Faculty Publications

Sale-leaseback transactions are ubiquitous in real estate markets in the United States with annual volume estimated to be greater than $7 billion. However, there is no evidence concerning the price impact of such transactional arrangements. Using a data set of sale-leaseback transactions, this study examines the price impact on commercial property transactions across seven markets. The findings reveal that transactions structured as saleleasebacks occur at significantly higher prices than market transactions. In addition, after accounting for income differentials, buyers and sellers are appropriately pricing the transactions resulting in no undue advantage to either party, that is, the expected price premium …

Sizing Up Corporate Restructuring In The Covid Crisis, Robin Greenwood, Benjamin Iverson, David Thesmar

Faculty Publications

In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and thus need to be liquidated or reorganized. Many surviving firms will need to be downsized or acquired. In normal times, this triage is supported by the court system, banks, and financial markets. The goal of this paper is to size up the coming surge of financial distress, list the challenges it presents in the current environment, and analyze potential policy solutions. …

Communication Of Fiduciary Risk For Workplace Retirement Plans, George Blount

Walden Dissertations and Doctoral Studies

More than 100 new 401(k) plan complaints were filed between 2016-2017, the highest two-year total since 2008-2009. Plan sponsors of retirement plans face personal financial liability for the risks associated with litigation focusing on their fiduciary responsibility. Grounded in the behavioral governance framework, the purpose of this qualitative case study was to explore the communication of risk for workplace retirement plans. The participants comprised 10 business leaders who are fiduciaries responsible for their company’s retirement plan with a national geographic footprint. Data were collected from semistructured interviews. Thematic analysis was used to analyze the data. Themes of benchmarking, the efficacy …

Relationship Between Csr Reporting, Csr Indices, And Financial Performance Of Hardware And Software Organizations, Cesar Castellanos

Walden Dissertations and Doctoral Studies

Organizational leaders around the world spend millions of dollars on ineffective corporate social responsibility (CSR) programs and CSR reporting strategies. Understanding the relationship between CSR reporting, CSR indices (CSRi), and financial performance is necessary to minimize unnecessary expenditures among organizational leaders. The purpose of this quantitative correlational study, grounded in Frederick’s CSR theory and Freeman’s stakeholder theory, was to examine the relationship between CSR reporting, CSRi, and financial performance of hardware and software organizations. Data were collected from the Security Exchange Commission and the official websites of 25 hardware and software organizations that were part of Fortune 500 between the …

Financial Advisory Firms’ Strategies For Diversifying And Growing Clients’ Portfolio, Gerald Lee House

Walden Dissertations and Doctoral Studies

Abstract

Less than half of all U.S. households have some form of retirement assets. Advisors who fail to use alternative investment strategies may not accumulate enough retirement assets for their clients. Grounded in Markowitz's modern portfolio theory, the purpose of this qualitative multiple case study was to explore alternative investment strategies financial advisors use to enhance the growth and diversification of their clients' retirement assets. Data were collected from semistructured interviews and company documents from 4

financial advisors in Georgia and South Carolina who had successfully incorporated alternative investments in their clients' retirement portfolios. Thematic analysis was used to analyze …

Relationship Of Organizational Structure And Capital Structure On Financial Performance Of Banks, Adam Kakande

Walden Dissertations and Doctoral Studies

Poor financial performance is a challenge for policy makers, industry regulators, investors, bankers, and business leaders. Understanding the relationship between organizational structure, capital structure, and financial performance is vital for business leaders to promote their long-term survival. Grounded in agency cost theory, the purpose of this quantitative correlational study was to examine the relationship between organizational structure, capital structure, and financial performance of new commercial banks in Uganda to promote their long-term survival. Archived data were analyzed using 60 bank-quarter observations of 5 Ugandan commercial banks closed within 5 years after opening, restructuring, merging, or undergoing an acquisition by another …

Financial Illiteracy Of Nigerian Immigrant Entrepreneurs In Houston, Adewole M. Omogunsoye

Walden Dissertations and Doctoral Studies

Financial literacy is an essential determinant of entrepreneurial success as it helps entrepreneurs to access credit and make rational financial decisions. However, financial literacy remains low especially among immigrant communities, who form the bulk of the low-income earners in the United States. The purpose of this qualitative exploratory case study was to explore the financial literacy of Nigerian immigrant entrepreneurs living in Houston, Texas, in order to sustain growth in their business by successfully using the U.S credit system. The research question for the study examined the actions Nigerian immigrant entrepreneurs in Houston need to take to be financially literate …

Examining Liquidity, Growth Strategy, Capital Structure, And Earnings Growth, Steven R. Posey

Walden Dissertations and Doctoral Studies

Many businesses experience financial deterioration after a growth period. Business leaders of firms with market capitalization value between $50 million and $300 million, known as microcap companies, might have an incomplete understanding of growth drivers. Grounded in the firm growth theory, the purpose of this quantitative, correlational study was to examine the relationship between liquidity, growth strategy, capital structure, and earnings growth. The population consisted of the more than 1,400 constituent firms from the 2019 Russell Microcap Index. Archival data from the Securities and Exchange Commission EDGAR database were collected, organized, and analyzed for 119 randomly selected firms. Multiple regression …

Differences In Financial Literacy Across Generations, Audra R. Sherwood

Walden Dissertations and Doctoral Studies

The United States federal government allocates $670 million annually towards financial literacy despite the fact 73 million adults are struggling financially, and over 65% of Americans are financially illiterate and unable to manage their finances. The specific management problem addressed in this study was the awareness of the differences in financial literacy between Millennials and Generation Xers who have and have not taken personal finance courses in high school in the United States. The purpose of this quantitative, nonexperimental, causal-comparative study was to test the self-efficacy theory and goal-setting theory in determining the differences between the two generational groups of …

Knowledge Management Assets Available To Mid-Level Managers During A Merger, Joy Nwulari Emole

Walden Dissertations and Doctoral Studies

The failure rate of mergers in the United States is high at over 70%. One of the contributing factors to merger failure is mid-level managers do not have sufficient strategies for knowledge management. The purpose of this qualitative descriptive phenomenological study was to understand the merger-related knowledge management assets used by mid-level managers in the retention of employees at recently merged medium-size information technology firms in California from 2014 to 2019. The conceptual framework was Nonaka and Takeuchi’s 4 modes of knowledge conversion: socialization, externalization, internalization, and combination. Twelve mid-level managers working in California were recruited from LinkedIn to participate …

Financial Management Strategies For Sustaining Small Entertainment Businesses, Michael Nana Nitto

Walden Dissertations and Doctoral Studies

Lack of effective financial management control strategies results in many small business entertainment owners (SBEOs) failing within their first 5 years of operations. Without strategies to develop and maintain adequate financial management controls, SBEOs may lose market share and potentially go bankrupt, which would result in the loss of jobs and income for employees. Grounded in the mental budgeting theory, the purpose of this qualitative multiple case study was to explore financial management strategies successful SBEOs use to improve productivity and profitability to sustain business operations beyond 5 years. The participants comprised 4 successful SBEOs in Northern Virginia who effectively …

Parents’ Perceptions Of Financial Technology To Support Financial Socialization And Literacy Levels, Patricia M. Page

Walden Dissertations and Doctoral Studies

The current generation of emerging adults are ill-equipped to navigate the evolving financial landscape, which can further exacerbate socioeconomic inequality. Extant research rooted in Gudmunson and Danes’ family financial socialization theory and Brown et al.’s situated cognition theory, which served as the conceptual framework for this study, acknowledged the long-standing influence of parents and authentic learning opportunities on child(ren)’s financial literacy and well-being. This study’s research questions explored parents’ experience with, and perceptions of, a family-managed virtual bank and prepaid debit card service designed for children ages Pre-K through college. The basic qualitative approach and semistructured interviews provided context to …

Cash Conversion Cycle Strategies To Avoid Business Failure, Brian Savino

Walden Dissertations and Doctoral Studies

At the end of 2018, the leading 2,000 U.S. and European companies had more than $2.5 trillion of cash unnecessarily tied up in working capital. The efficient management of working capital will lead to more cash invested in profitable projects leading to long term stability. This research will benefit chief financial officers (CFO) looking for strategies to manage working capital, which leads to higher profits and will help CFOs better manage economic downturns. Using the resource dependence theory as the conceptual framework, the purpose of this qualitative multiple case study was to explore cash conversion cycle (CCC) strategies used by …

Enterprise Resource Planning Implementation In Higher Education: Cost Containment Strategies, Tysha K. Tolefree

Walden Dissertations and Doctoral Studies

Lack of effective cost containment strategies to support enterprise resource planning (ERP) system implementations within higher education institutions (HEIs) result in budget overruns 50% of the time. Grounded in Gartner’s IT cost containment techniques, the purpose of this qualitative multiple case study was to explore strategies HEI project directors use to support a successful ERP implementation on time and within budget. The participants comprised 5 project directors and managers from HEIs and another public organization in the state of Washington. Data were collected from semistructured interviews, archival data, and organization documents. Thematic analysis was used to analyze the data, and …

Factors Affecting Electronic Banking Adoption In Barbados, Jacqueline Delores Bend

Walden Dissertations and Doctoral Studies

The low rate of customers' adoption of electronic banking services affects retail banks' profitability. The operating cost for a financial transaction performed by bank tellers averages US$1.07 compared to US$0.01 using electronic banking channels. It is paramount for retail banking leaders to understand the factors influencing customer adoption of electronic banking to sustain competitive advantage. Grounded in the technology acceptance model framework, the purpose of this quantitative correlational study was to examine the relationship between perceived usefulness (PU), perceived ease of use (PEOU), and customer adoption of electronic banking in Barbados. The validated technology acceptance model survey instrument was used …

Financial Advisor Retention Strategies, Anthony Latere Williams

Walden Dissertations and Doctoral Studies

Ineffective retention strategies can negatively impact business productivity and profitability. Financial advisor managers who struggle to maintain productivity and profitability because of ineffective retention strategies are at a high risk of failure. Grounded in Herzberg's two-factor theory, the purpose of this qualitative multiple case study was to explore strategies successful financial advisor managers used to retain financial advisor employees and maximize productivity and profitability. The participants comprised 5 financial advisor managers from 5 different financial service firms in Houston who effectively used retention strategies to maximize productivity and profitability. Data were collected from semistructured interviews and company website documents. Yin's …

Nonprofits’ Financial Health And Healthy People 2020 California Program Outcomes, Tammie Vanessa Johnson-Lozolla

Walden Dissertations and Doctoral Studies

Nonprofit organizations (NPOs) are essential for implementing U.S. health promotion policies such as the Healthy People 2020 Nutrition and Weight Status 9, 10.4, and 15.1 program goals. Obtaining and sustaining NPO funding are pervasive problems. Prior research has focused primarily on NPO financial measures without taking into consideration a conjoint assessment of program outcomes connected to their primary mission. This study examined the influence of financial, accountability, and transparency measures on a selection of California NPOs whose program goals focused on Healthy People 2020 nutritional outcomes. Using Mohr’s program theory lens, this quantitative study examined financial strategies and administrative components …

The Relationship Between Customer Relationship Management, Employee Retention, And Revenue, Bui Thanh Van

Walden Dissertations and Doctoral Studies

Downsizing campaigns and employee layoffs can result in poor customer service leading to service revenue losses. Understanding lost service revenue predictors is critical for leaders and managers to maintain and increase organizational growth and financial performance. Grounded in the service-profit chain theory, the purpose of this quantitative correlational study was to examine the relationship between customer relationship management (CRM), employee retention, and service revenue. Data were analyzed for 80 leaders and managers working in Vietnam’s industrial service field. The results of the multiple regression analysis indicated the full model, containing the 2 predictor variables (CRM and employee retention), was able …

Financial Viability Strategies For Leaders Of Small, Private, Nonprofit Universities, Elizabeth Ann Postlewaite

Walden Dissertations and Doctoral Studies

The percentage of full-time college students decreased by 7% in the United Statesbetween 2010 and 2018. Modern university leaders confront difficult decisions regarding their institutions' future because of financial challenges related to reduced tuition revenue. Grounded in the theory of diffusion of innovations and the balanced scorecard, the purpose of this qualitative multiple case study was to explore strategies leaders of small, nonprofit, private universities use to remain financially viable in a highly competitive environment. The participants included 6 university leaders from 2 small, private, nonprofit universities in the Midwest and Mid-Atlantic regions of the United States who implemented successful …

A Test Of The Generalized Yunus Equation And Its Implications For Microcredit In The Philippines, Jasmin-Mae Santos Luy

DLSU Business & Economics Review

Microcredit is one of the most important financial services offered by microfinance institutions (MFIs) in the Philippines. Loan repayment by frequent installments faces the challenge of possible random delays, which leads to random interest rates. Such randomness affects both microlenders and borrowers. This research utilizes a mathematical model called the generalized Yunus equation (GYE) to study the microloan repayment process in the Philippine setting. Using this model, an explicit formula was formulated expressing the effective interest rate involved in repayment as a function of the time when the delay takes place, which closely approximates the actual values of the rate …