Finance and Financial Management Commons^™

Small Business Owners Strategies In The Retail Grocery Sector, Panzo Nteka

Walden Dissertations and Doctoral Studies

In Angola, 96.7% of established small businesses fail. Thus, the purpose of this multiple case study was to explore strategies retail grocery store owners in Angola use to succeed beyond 5 years. The population of the study consisted of 5 retail grocery storeowners who sustained their businesses longer than 5 years in Angola. The conceptual framework for this study was the resource-based view. Face-to-face, semistructured interviews and company documentation review were used to collect data. Yin's 5-phase cycle, which includes (a) compiling, (b) disassembling, (c) reassembling, (d) interpreting, and (e) concluding, was used to find patterns, themes, and categories from …

Leadership Strategies To Improve Employee Performance In The Insurance Industry, Momodou K. Sonko

Walden Dissertations and Doctoral Studies

Lack of performance improvement strategies contributes to poor employee performance and increases the potential for business failure. Some insurance business leaders lack strategies to improve employee performance. The purpose of this case study was to explore strategies that successful insurance business leaders use to improve employee performance. The classical management and transformational leadership theories served as the conceptual frameworks for this study. Using a semistructured interview technique, 9 purposefully-selected insurance senior managers in Atlanta, Georgia were interviewed on how they successfully improved employee performance. Through open coding and thematic analysis, 4 themes emerged: goal setting and performance review; effective communication; …

Effective Strategies To Sustain Small Businesses In Rural Areas, Nicole A. Dobson

Walden Dissertations and Doctoral Studies

Compared to their urban counterparts rural small businesses face unique socio-economic and environmental challenges including isolation, lack of resources, poverty, limited networks, and a smaller population of working age adults. The purpose of this qualitative case study was to explore effective strategies that rural small business managers have used to sustain a business in their area. The population for this study included a purposeful selection of 8 rural small businesses. Institutional theory served as the conceptual framework for this study. Data was collected using semi-structured face-to-face interviews of participants. The data was analyzed and coded by using a modified Van …

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, …

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 …

Essays In Commodities And Freight Markets, Nelson Yap

Dissertations and Theses Collection (Open Access)

Chapter 1: Structural Changes in Functional Curves: Estimation and Testing

Abstract: This paper considers the estimation and testing of structural changes in functional curves that occurs at an unknown date. The functional principal component analysis is applied to the random functional curves, decomposing them into interpretable simple latent functions and random scalars. We model the random scalars using a simple autoregressive model and test for a change in parameters that occur at an unknown date. This method is applied to the crude oil futures market to estimate and date possible structural breaks during OPEC announcement periods from 1984 to 2017.

Essay On Asset Pricing, Fei Gao

Dissertations and Theses Collection (Open Access)

We uncover a novel stock return predictor from the options market, the volume-weighted strike-spot price ratio (VWKS) across all traded option contracts. High (low) VWKS indicates that the mass of options volume on an underlying stock centers at the out-of-the-money region of call (put) options. Empirically, VWKS has positive and robust predictive ability for underlying returns after controlling for a long list of variables including known return predictors from the options market, stock illiquidity, and past stock returns, and has more persistent and stronger predictive power for stocks with higher information asymmetry and arbitrage costs. We also find that VWKS …

U.S. Corporate Energy Productivity, Greenhouse Gas Productivity, And Return On Equity, Terry Geonnie Tate

Walden Dissertations and Doctoral Studies

Corporate leaders are expected to engage in corporate social responsibility by some stakeholders, but there is no consistent evidence that corporate social performance relates to financial performance. Grounded in instrumental stakeholder theory, the purpose of this correlational study was to examine the relationship among energy productivity, greenhouse gas productivity, and return on equity. The 2016 Newsweek Green Ranking U.S. 500 was the population for this study, which consisted of the largest companies in the United States with the highest corporate social performance scores. The secondary data were collected from Newsweek.com and Morningstar.com for this study. The multiple linear regression was …

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 …

Strategies Church Financial Leaders Use For Financial Sustainability During Economic Crises, Jessie Hyman Jackson

Walden Dissertations and Doctoral Studies

Church financial leaders were affected by the economic crisis after the 2008 recession. In a 2009 group study conducted nationwide with church financial leaders, 57% stated that the economy had a negative effect on their church budgets. The purpose of this qualitative multiple case study was to explore successful strategies that some church financial leaders used to ensure financial sustainability during economic crises. Resource dependence theory was the conceptual framework. Data were collected from 6 church financial leaders at 4 churches in the northeastern region in the United States; church financial leaders were selected through purposeful sampling to participate in …

Chief Executive Officers' Compensation And Firms' Performance In The U.S. Banking Industry, Xin Li

Walden Dissertations and Doctoral Studies

The growth rate of chief executive officers' (CEOs) compensation has dramatically outpaced average employees' pay increases. Scholars have not been able to reach a consensus on whether the financial performance of firms has a positive influence on CEOs' compensation. Also, boards of directors lack a clear understanding of the relationship between financial performance of firms and CEOs' incentive compensation in the U.S. banking industry. The purpose of this correlational study was to examine the predictive relationship between financial performance of firms (measured by return on equity [ROE] and annual revenue) and CEOs' total compensation in the U.S. banking industry. According …

Homeowner's Equity, Rental Cash Flow, And Recourse As Predictors Of Default Mortgage Status, William Callian Iii

Walden Dissertations and Doctoral Studies

In the aftermath of the Great Recession of 2007-2009, banking executives feared the impact of increased capital reserve requirements for losses from mortgage defaults. One reason was that home price declines during the Great Recession precipitated mortgage defaults, which increased the percentage of foreclosures as well as accelerated negative equity, and default. The purpose of this correlational study, grounded in Fishbein's expectancy of value and Vroom's expectancy theories, was to examine the relationship between the independent variables of homeowner's equity, rental cash flow value, and recourse, and the dependent variable, default mortgage status. Archival data comprised a sample of 408 …

Regulatory Change And Corporate Acquisitions, Arya Rishi

Chulalongkorn University Theses and Dissertations (Chula ETD)

This thesis investigates the impact on foreign investment activities of the equity market liberalization introduced in response to the 1997 crisis, which primarily involves the relaxation of the foreign ownership restrictions as well as improvements in corporate governance practices. These regulatory changes, which occurred in Indonesia, the Philippines, Malaysia, and Thailand, should have resulted in a lower amount of frictions in the capital market. With this lowering of frictions, we should observe higher gains from cross-border corporate acquisitions in addition to a higher volume of cross-border acquisitions. When I use combined announcement excess returns to measure acquisition gains, I find …

The Contributors, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.

Strategic Position Of Bond Markets In Asean-5: Challenges And Directions For Development, Sorasart Sukcharoensin

DLSU Business & Economics Review

This study compares and analyzes the strategic position of bond markets in ASEAN-5 countries using the Strategic Position and Action Evaluation matrix approach as a diagnostic tool. The results reveal that the bond markets in Malaysia, Singapore, and Thailand are in an aggressive posture, whereas the bond market in the Philippines is in the conservative position and the Indonesian bond market is the one in a defensive posture. The current strategic position of each bond market, together with scores in each dimension, helps identify key prospects and challenges that could considerably affect strategic development of bond markets in the region.

Ownership Structure And Stock Return Asymmetries In Asean-5 Stock Markets: A Firm-Level Analysis, Sorasart Sukcharoensin, Pariyada Sukcharoensin

DLSU Business & Economics Review

This paper explores the relationship between ownership structure and the skewness in the stock return distribution among ASEAN-5 equity markets, including Indonesia, Malaysia, the Philippines, Singapore, and Thailand during 2007–2015. This study adds to the existing literatures that ownership structure can explain skewness of the stock returns. The empirical results reveal that stock returns in ASEAN-5 markets present asymmetric distribution. Further, by employing firm-level data, the results show that ownership structure, cumulative daily stock returns, firm size, and market-to-book ratio significantly affect future skewness of the stock returns.

Inflation And Public Debt Dynamics In Asean, Yuthana Sethapramote, Athakrit Thepmongkol

DLSU Business & Economics Review

This paper studies how inflation affects the debt dynamics focusing on six ASEAN countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Using projection data, we perform simulations of debt dynamics under various inflation policies. It results that Vietnam has the highest ability of inflating debt, while the Philippines is lastly ranked. Moreover, the optimal inflation rate for each member country and also the common policy rate for ASEAN integration are calculated under additional debt management motive. We found that if the ASEAN happened to use the common inflation policy rate, Malaysia and the Philippines would not be much affected …

Regime-Switching Business Cycle Synchronization In The Asean, Yuthana Sethapramote, Athakrit Thepmongkol

DLSU Business & Economics Review

This paper investigates patterns of business cycle synchronization and analyzes the underlying common factors in six ASEAN countries, that is, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Two important findings result. First, according to resulting regime probabilities calculated from the Markov-switching model, Singapore is not synchronized with other ASEAN members, while Indonesia, Malaysia, and the Philippines are highly correlated. Second, according to the principal component analysis, we find that the world’s import value growth, the output growth of China, and the capital flow of Singapore are most likely to account for 88% of variation in probabilities of the ASEAN …

Compliance Theory: A Case Study Approach In Understanding Organizational Commitment, Nelson J. Celis

DLSU Business & Economics Review

The Electronic Commerce (e-Commerce) Act of 2000 or Republic Act (RA) No. 8792 mandates all government agencies to transact business and perform government functions using electronic documents within two years from the date of its effectivity in June 2000. Unfortunately, only a handful of government agencies were ready to implement the said law in the year 2002 despite the availability of applicable information technology (IT) resources and appropriated budget. After 17 years, there is considerable improvement in the compliance with the said law, though there are still non-compliances of government offices that could not manage to be at par with …

Determinants Of Earnings Management Choice Among Publicly Listed Industrial Firms In The Philippines, Cynthia P. Cudia, Aeson Luiz C. Dela Cruz

DLSU Business & Economics Review

Earnings management involves the use of acceptable accounting rules and procedures as well as circumventing business activities to achieve desired ends. In the literature, earnings management through discretionary accruals has always been associated with an opportunistic motive to mislead various stakeholders about a business’ financial performance to the advantage of owners and managers. However, the literature presented two possible motives behind earnings management, namely: an opportunistic, a self-serving perspective which mirrors the agency problem; and an efficient motive which utilizes earnings management as a signalling mechanism to send signals about the firm to its stakeholders. In this paper, we investigate …