Finance and Financial Management Commons^™

Beyond Compliance: Rethinking Ethical Accounting Through Ai And Esg, Rafael L. Portillo

Honors Program Theses and Research Projects

With the increasing adoption of these modern technologies in world markets while maintaining these ethical principles, there is an increasing need for alignment between technology development and ethical responsibility. For instance, in the world of accounting, there is an increasing demand to maintain alignment between technology development and ethics. It is for this reason that these researchers have chosen to explore the link between Artificial Intelligence, ESG, and financial reporting ethics.

The goal of this study is to look at new concerns and moral risks that appear when ESG expectations, AI systems, and accounting practices interact. Earlier research usually studies …

Evaluating Kansai Airport's Ppp: Grounded Ambitions, Concession Of Financial, Geotechnical, And Climate Risk, Edmund Cho, Dimitrios V. Siskos

International Journal of Aviation, Aeronautics, and Aerospace

This study critically examines the Kansai Airports Group’s 44-year Public-Private Partnership (PPP) monopoly-type concession encompassing Kansai International (KIX), Osaka Itami (ITM), and Kobe (UKB) airports. The research uses financial analysis, Monte Carlo simulation, and NPV-at-risk modeling to evaluate how Japan’s fixed-term private monopoly model allocates financial, operational, and environmental risks. In 2015, there were significant developments in the promotion of the Private Finance Initiative (PFI) Act. It was revised in 2015; as a result, it finds that the underestimated long-term maintenance liabilities, especially Kansai airport (KIX) foundation subsidence, and lacked flexibility to manage exogenous shocks like COVID-19 and Typhoon Jebi. …

Grand Theft Identity: The Privacy Costs Of Digitalization, Kenny Phua, Chishen Wei, Gloria Yang Yu

Sim Kee Boon Institute for Financial Economics

We study whether greater digital engagement increases the risk of identity theft by exploiting bank branch closures as a shock that shifts economic activity online. Using a quasi-natural experiment, we find causal evidence that branch closures increase identity theft, particularly in more vulnerable communities. Exposed consumers spend more time on mobile apps and shift their expenditures from offline to online channels. Adversarial activities associated with identity theft, such as unwanted calls and phishing attempts, increase after branch closures. Overall, our evidence suggests that digitalization offers consumer benefits, but also imposes hidden privacy costs.

The Power Of Core Memories In Financial Education For Gen Alpha Children, Karen Richel

Journal of Human Sciences and Extension

Financial education plays a critical role in shaping lifelong financial behaviors and decision-making skills. To create a lasting impact, it is essential to establish core memories associated with money management from an early age. This article explores the significance of these foundational experiences and their role in financial education for Gen Alpha children.

A series of eight immersive financial education events was developed to meet state and national standards for students in pre-kindergarten through sixth grade. These events employ play-based and object-based learning approaches, immersing students in engaging, age-appropriate activities that incorporate real-world scenarios. By creating a fun and memorable …

Equity Fund Monthly Report, December 2025, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Integrating Data Analytics: Exploring The Best Methods To Evaluate Players’ Performance To Help Gain A Competitive Advantage On The Football Field, Tanner F. Fountain

Finance Undergraduate Honors Theses

To succeed in the world of sports, leaders need to uncover and utilize any advantage possible in order to gain a competitive advantage over their competition. I discuss how leaders of a sports organization, specifically within the Arkansas Razorback football program, implement the use of analytics on and off the field, as well as how they use their data to create visuals, find potential strengths and weakness, and ultimately help them be more prepared for gameday. Using my personal experience as a Student Analyst for the Razorbacks, along with supplementary information, I share the latest tactics and the strategies for …

How Perceived Political Uncertainty Affects Markets: An Investment Analyst’S Reflection, Avery W. Jacobs

Finance Undergraduate Honors Theses

This paper explores the relationship between political uncertainty and financial market behavior, offering reflections based on personal experience as an Investment Analyst at an RIA. It discusses key events and highlights how market perceptions can dramatically influence financial markets. It highlights how an organization can overcome challenges and serve clients in uncertain times.

Digital Communications Between Firms And Investors: Impact Of Explanatory Responses On Investor Engagement In Online Financial Q&A, Runyu Wang, Zili Zhang, Keng Siau, Ziqiong Zhang

Research Collection School Of Computing and Information Systems

The emerging trend of digital communications between firms and investors through online question-and-answer (Q&A) platforms is recognized as a vital strategy for managing investor relations, contributing to enhanced market efficiency and information transparency through increased information exchange. Potential investors can seek responses from firm managers to address their information needs, thereby mitigating market uncertainties. To provide foundational insights, we conduct a survey of investors to assess their awareness, usage, and perceptions of firm-investor Q&A platforms. In the subsequent empirical study, we specifically focus on the substance of managers’ responses, which are primarily aimed at clarifying firm events or information. In …

Debt In The Real World, Edward J. Janger

Brooklyn Journal of Corporate, Financial & Commercial Law

No abstract provided.

Does Digital Finance Foster Corporate Innovation? Evidence From China, Ning Gu, Ye Wang, Yu Liu, Chengbo Fu

Finance Faculty Publications

This study examines how digital finance foster corporate innovation. Unlike prior research focused on statistical associations, we investigate the underlying economic mechanisms driving that relationship. Using panel data of Chinese listed firms from 2013–2023, we show that digital finance stimulates corporate innovation through two primary channels. On the supply side, digital finance supports innovation by optimizing resource allocation, improving risk management, and providing high-quality information. On the demand side, digital finance stimulates the innovation needs of enterprises by improving their dynamic capabilities. Moreover, a favorable governance environment further amplifies these effects. Heterogeneity analysis reveals stronger impacts for large firms, firms …

A Capstone Review: Strategic Solutions For A Small Macrame Business, Jenna Sarieddine

University Honors Theses

This essay presents an overview of the Business Capstone project, focusing on a macramé business currently facing a $10,000 debt due to limited marketing and financial management skills. The purpose of the project is to support the business in developing an effective elevator pitch, improving its social media presence, strengthening its financial statements, and enhancing both personal and business financial practices. The essay explores the company's strengths, weaknesses, opportunities, and threats, as well as the team's collaborative approach to addressing these challenges. It outlines the goals established for the company, the strategies selected based on our academic backgrounds and business …

A Study On The Impact Of Ceos’ Financial And Technical Backgrounds On The Innovation Strategy Of The Enterprise, Jianyu Cheng

Dissertations and Theses Collection (Open Access)

Amid regional economic integration and market competition, innovation has become a key driver for enterprises to gain competitive advantages and ensure sustainable development. As primary decision-makers in corporate strategy and resource allocation, chief executive officers (CEOs) impact the selection and implementation of innovation strategies through their financial and technical backgrounds, which influence their strategic cognition and risk preferences, leading to heterogeneous innovation behaviors. While existing research has examined the relationship between CEOs and corporate innovation, studies have inadequately explored CEOs’ diverse background characteristics, particularly the interaction between financial and technical backgrounds. Given the rising trend of CFOs and CTOs advancing …

The Impact Of Value Co-Creation On Organizational Resilience In Small And Medium-Sized Traditional Foreign Trade Enterprises, Dan Yan

Dissertations and Theses Collection (Open Access)

Against the backdrop of increasing uncertainty in the global business environment, international scholarly attention to individual, group, and organizational resilience has risen significantly. Chinese export trading enterprises—especially small and medium-sized export trading enterprises(SMETEs)—face disadvantages such as small scale, weak financing capacity, limited access to information, and low brand strength. After experiencing shocks from digital transformation, the COVID-19 pandemic, the Russia–Ukraine war, and the European energy crisis, these firms have been compelled to reconsider how to enhance their organizational resilience in order to adapt to an increasingly turbulent external environment.

First, this study selects Company H as a representative case of …

From Discrete Manufacturing To Continuous Manufacturing: Examining The Relationship Among Digital Capability, Organizational Learning, And Enterprise Performance, Demu Chen

Dissertations and Theses Collection (Open Access)

In 2018, Company J launched its intelligent drive digital transformation project, which was completed and entered operation in 2021. That December, the project obtained certification under Zhejiang Province's "1353" system for the future factory enterprises, marking a successful transition from discrete to continuous manufacturing. To address the asynchronous flows of logistics, information, personnel, capital, and value indiscrete manufacturing enterprises, as well as pain points such as lowper capita output, long product delivery cycles, and low annual inventory turnover rates, this study, based on organizational learning theory, constructs ananalytical model encompassing digital capability (independent variable X), organizational learning (mediating variable Z), …

Feedback Strategies In The Market With Uncertainties, Mustapha Nyenye Issah

Graduate Theses and Dissertations (2019 - present)

This paper explores how established firms use strategic advertising to deter new competitors in uncertain markets. Specifically, it models a situation where market demand evolves unpredictably - captured by the CKLS stochastic process, and the incumbent firm may be either strong or weak, a fact hidden from potential entrants. For a company already in the market, advertising is not just about driving immediate sales, it is a strategic tool to project an image of strength and deter potential new competitors. On the other side, a business thinking about entering that market faces a high-stakes, irreversible decision. It will typically hold …

The Discouraged Borrower: How Stereotype Threat Blocks Capital Access For Urm Entrepreneurs, Mauricio Mercado

The Lender Center for Social Justice

Entrepreneurship thrives on access to capital, yet many underrepresented racial minority (URM) founders find themselves discouraged from even applying for loans. This is not simply due to past denials or lack of financial literacy, it is a response to the psychological burden of stereotype threat. Our research shows that the fear of confirming negative stereotypes shifts entrepreneurs into a prevention mindset, leading them to avoid opportunities for growth in order to minimize the risk of rejection. This dynamic makes Black entrepreneurs nearly three times more likely, and Latino entrepreneurs five times more likely, to self-select out of the loan application …

Riding Attention Spikes: How Analysts Respond To Advertising, Minjae Koo, Annika Yu Wang, Yin Wang, Liandong Zhang

Research Collection School Of Accountancy

Product market advertising, while containing little new information, triggers spikes in investor attention. Using weekly advertising data, we find that sell-side analysts issue optimistic earnings forecasts in response to heavier advertising in the prior week. This effect is not driven by confounding earnings or product news. It is more pronounced for experienced analysts and analysts affiliated with brokerages relying solely on trading revenues. The optimistic forecast bias intensifies the impact of advertising on investor trades, especially on retail buying, of the underlying stock during the following week. Overall, analysts appear to issue optimistic forecasts to exploit retail investor attention spikes …

Incident-Driven Esg Engagements, Hao Liang, Yongheng Sun, T. Mandy Tham

Research Collection Lee Kong Chian School Of Business

We examine when and why institutional investors engage portfolio firms on ESG issues using proprietary engagement records from a European asset manager. Salient negative incidents emerge as a powerful trigger—second only to firm size—because they heighten reputational accountability for investors and reveal new information about hidden ESG weaknesses, particularly at firms perceived as ESG leaders. Monitoring also extends along the supply chain: incidents at key suppliers prompt investor engagement with focal firms. Finally, engagement is associated with higher firm value, stronger ESG performance, and increased cash flows. Together, the findings illuminate the drivers and mechanisms of ESG engagement and underscore …

Trust And Fintech: A Review And Research Agenda, James F. Devlin, Sanjit K. Roy, Harjit Sekhon, S. M.A. Moin, Mehmet Sahiner

Research outputs 2022 to 2026

The primary objective of this paper is to formulate a detailed research agenda focussed on trust in the context of FinTech. To achieve this objective, conceptualisations of trust and related constructs are reviewed, and a detailed model of trust is developed. The domain of FinTech is then introduced and is taken to include current and emerging innovations in financial services incorporating aspects of big data and AI, as well as open and decentralised finance and crypto assets. Typologies of FinTech services are also explored. Arguments concerning the importance of trust in financial services are then reviewed, along with prior studies …

Industry Return Predictability Using Health Policy Uncertainty, Thach Pham, Deepa Bannigidadmath, Robert Powell

Research outputs 2022 to 2026

This paper examines how a change in health policy uncertainty affects US industry returns using monthly data from January 1985 to September 2020. We employ in-sample and out-of-sample analyses, and we find evidence that 25 out of 49 considered industries are predictable during the health crisis periods, including severe acute respiratory syndrome and the ongoing coronavirus pandemic. The out-of-sample tests corroborate the evidence for the in-sample predictability. Furthermore, using a mean–variance utility function-based trading strategy, we observe that investors can use this simple tool for their trading strategies and make profits from 2.99 to 11.44% per annum. Our findings are …