Finance and Financial Management Commons^™

Fss 2020: Human Capital Development Report, Sani A. Abdallah

Bullion

This paper explores the FSS2020 Human Capital Development strategy which aims to chart a strategic direction for evolving and developing the required quality human capital that would drive the achievement of the FSS2020 vision, toking into cognizance prevailing local trends and the experiences of global benchmark countries. The paper highlights the vision, mission and objectives of the strategy followed by identifying human capacity development sector challenges. Some critical planned interventions to address the challenges, sector weaknesses and sector threats are next discussed. The paper further highlights relevant stakeholders to implement the interventions and achievements of the HCD sector. Finally, the …

Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha

Bullion

MSMEs play a major role in most economies, especially in developing countries. This paper examines the opportunity provided by FSS2020 to enhance development of the MSME sector in Nigeria. The paper begins by examining the concept of FSS2O2O strategy for the MSME sector with specific focus on the six (6) Strategic Objectives and three (3) Transformational Programs to drive the development of the sector. These strategic objectives and the respective initiatives have a high multiplier effect on the entire Nigeria financial system. The six objectives ore: Advocate and Work with the government to Drive SME development, 2. Promote Financial Reporting …

Fss 2020: Pension Sector, Zarah Gadzama

Bullion

The Nigerian Pensioner over the years is seen to have been deprived of his/her benefits even after retirement. The inconsistency of payments, corruption and lack of data or payments to Ghost Pensioners was a major setback to the defined benefits pension scheme of the Federal Government. To curtail these challenges, the Federal Government commenced the reform of the sector through legislative reforms to create a robust Pension industry that can meet the needs of all pensioners. This Paper intends to review the Journey So for of the FSS2020 Pension Sector. The paper ls divided into five Sections; Section one deals …

Transforming The Mortgage Sub-Sector Using The Fss 2020 Platform, Patrick E. Aririguzo

Bullion

This paper examines the Mortgage sector of FSS2020 Strategy document which falls within the category of the drivers of the FSS2020 Strategy implementation blueprint. FSS2020 Mortgage: Vision and Mission. The paper further explores the Strategic Objectives of FSS2020 Mortgage Sector and the Transformational Programmes which includes: Ml - Establish a secondary mortgage market; M2 - Attract affordable international credit to fund affordable housing programmes; M3 - Advocate for mortgage ready and affordable housing. Three Transformational Programmes were designed to support the realization of the three objectives of the Mortgage Sector namely: TPl - Establishment of Mortgage Refinancing Companies (MRC) TP2 …

A Regression Model To Predict Stock Market Mega Movements And/Or Volatility Using Both Macroeconomic Indicators & Fed Bank Variables, Timothy A. Smith, Alcuin Rajan

Publications

In finance, regression models or time series moving averages can be used to determine the value of an asset based on its underlying traits. In prior work we built a regression model to predict the value of the S&P 500 based on macroeconomic indicators such as gross domestic product, money supply, produce price and consumer price indices. In this present work this model is updated both with more data and an adjustment in the input variables to improve the coefficient of determination. A scheme is also laid out to alternately define volatility rather than using common tools such as the …

The Impact Of Csr On Corporate Financial Performance, David K. Ding

Research Collection Lee Kong Chian School Of Business

We provide one of the first analyses of corporate social responsibility (CSR) and firm performance using only annual financial reports. We document a link between corporate financial performance (CFP) and CSR, although this is not always positive. Specifically, we investigate whether CSR performance can be implied from financial reporting and provide evidence that CSR information implied by financial reports have a significant association with CFP. Furthermore, we provide the first comprehensive study of CSR reporting and link it with CFP in New Zealand.

Surplus Consumption, Habit Utility And Moody Investors, Jun Lou

Dissertations, Theses, and Capstone Projects

The thesis examines a blend of Asset Pricing topics: joint stock-bond pricing, consumption-based asset pricing puzzles, time variation in risk preference, among others. In chapter one, I first review the literature on respective topics in search of a consolidated framework of resolution. I then propose one, a consumption-based affine model that jointly prices bond and stock in closed form. The tractable feature of the price solutions remains standard as in affine termstructure of interest rates, but presents novelty for the stock prices. In chapter two, I discuss the GMM based procedures for model estimation. In chapter three, I interpret the …

Developing An Evidence Base For Assessing Natural Capital Risks And Dependencies In Lending To Australian Wheat Farms, Theodor Florian Cojoianu, Francisco Ascui

Research Collection College of Integrative Studies

Farmers are highly dependent on stocks of natural capital, and lenders are in turn exposed to natural capital through their loans to farmers. However, the traditional process for assessing a farmer’s credit risk relies primarily on historical financial data. Banks’ consideration of environmental factors tends to be limited to major risks such as contaminated land liabilities, and to large project and corporate finance, as opposed to the smaller loans typical of the Australian agricultural sector. The relevant risks and dependencies for agriculture vary by sub-sector and geography, and there is a lack of standardised methodologies and evidence to support risk …

Effects Of The Basel Iii Liquidity Risk Metrics On U.S. Bank Performance And Stability, Cecelia Mundt

Doctoral Dissertations (DBA)

This paper investigates the effects of Basel III’s liquidity metrics on profitability and stability on a subset of U.S banks from 2002 to 2014. The profitability and stability of each of these banks were calculated under the scenario of shifting 1% of its overall assets from illiquid to liquid. The empirical findings demonstrate a negative relationship between holding higher liquidity and bank profitability. It finds that this negative relationship is disproportionate across the bank classes with savings banks losing profitability at almost twice the rate as national banks. Additionally, stability of savings banks is more adversely affected than of national …

Calculating The Cost Of Pilot Turnover, Kristine M. Kiernan

National Training Aircraft Symposium (NTAS)

Controlling costs is a critical ingredient in achieving profitability in the airline industry. Typically, labor costs are the second highest cost category for airlines. Some components of labor costs, such as pay and benefits, are easy to calculate. Turnover costs, however, are not easy to calculate, and are often underestimated. This paper builds a model for examining turnover costs for pilots in Part 135 carriers, and tests the model empirically in a Part 135 carrier. The model provides a framework to assist airlines in estimating turnover costs for pilots. The case study of a Part 135 cargo operator showed that …

Insurance And Self-Protection For Increased Risk Aversion, Jian Zhang

Lingnan Theses

We re-examine the classic problem of risk aversion and self-protection in this paper. In the beginning of this paper, we conduct comparative statics of risk aversion and prevention efforts based on the mono-periodic two states model of choice under risk. We show this new condition is effective with self-insurance-cum-protection model (Lee, 1998), in which the decision maker's activities to prevent the risk can sever both as self-insurance and self-protection. We suggest a new condition that increased risk aversion induces more prevention activities. This new condition requires only one assumption concerning fear of ruin coefficient, marginal effect of SICP activity on …

Social Norms And Stock Trading, Asem Alhomaidi

LSU New Orleans Theses and Dissertations

The dissertation consists of two essays. In the first essay we compare the performance of Islamic and conventional stock returns in Saudi Arabia in order to determine whether the Saudi market exhibits characteristics that are consistent with segmented markets and investor recognition effects. We sample the daily stock returns of all Saudi firms from September 2002 to 2015 and calculate important measures, including idiosyncratic volatility (Ang et al, 2006), market integration (Pukthuanthong and Roll, 2009), systematic turnover (Loughran and Schultz, 2005), and stock turnover and liquidity (Amihud, 2002). Integration tests report that Islamic stocks are more sensitive to changes in …

Global Market Liquidity And Corporate Investments, Abdulrahman Alhassan

LSU New Orleans Theses and Dissertations

The dissertation consists of two essays. The first essay investigates how oil market factors impact on liquidity commonality in global equity markets. I identify two transmitting channels of the effect on liquidity commonality, namely oil price return and volatility. Using a sample of firms drawn from 50 countries spanning from Jan 1995 to Dec 2015, I find that both effects in oil explain the liquidity commonality in countries with higher integration to oil market. In addition, I show that oil volatility effect is more pronounced in net oil exporters compared to net oil importers after controlling for oil sensitivity. My …

Financial Crises And Investment Behavior: The Impact Of Institutional Investors, Kathleen Lindsay

LSU New Orleans Theses and Dissertations

The following dissertation contains two related essays. The first essay explores how institutional investor presence impacts investments during the global financial crisis. Using OLS, industry fixed effects, and Heckman 2SLS regression approaches, I explore two ways through which institutional investors could impact investments: liquidity and monitoring. My findings best support monitoring theory. I find that institutional investors monitor capital and R&D levels to maximize crisis period firm value.

The second essay is a direct fallout from my first essay. In it, I investigate how institutional investor types influence investments. I ask, do certain types of investors improve liquidity or monitor …

Dividend Policy In A Frontier Market And Sector Equity Traded Funds In The United States, Abdulrahman Alharbi

LSU New Orleans Theses and Dissertations

In chapter 1, we examine the nature and scale of the relationship between returns on sector Equity Traded Funds (ETFs) and their volatility. We discuss the source and direction of the effect between returns and risk and whether behavioral biases are prominent among sector ETFs. The study has implications for financial sector practitioners and investors, as it provides more information about the risk in sector ETF and whether that risk differs from that of other investment instruments. To this end, we test three hypotheses based on the relevant literature on volatility and returns: the leverage effect hypothesis, feedback hypothesis, and …

2017 Q3 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Graziadio School of Business and Management at Pepperdine University, and with the support of Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.

Gambling With Momentum: How Gambling Cultures Shape Financial Markets, Daniel Mosman

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Do people who gamble carry such preferences into their investments? This study looks at various factors which are used to identify countries with a significant gambling population, and seeks to find a relationship with those gambling tendencies and premiums associated with momentum. From historical market data from financial markets in 45 different countries I found stronger evidence of a momentum premium in those countries which have those identifying factors for gambling, than those that do not. Results of the regression analysis suggest weak evidence that it is possible that the momentum premium could be associated with gambling preferences and culture …

Burning Budgets: Does An Institutional Blank-Check Raise The Severity And Cost Of Fighting Wildland Fires?, Devin T. Stein

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

In conducting this research, I wanted to explore whether political incentives have a significant effect on wildfire management in the United States. I attempt to answer this question by proving a theoretical justification for why wildfires may become more expensive to fight and severe to manage because of political institutions. I then attempt to provide some hard evidence to support this theory by using regression analysis. My analysis suggests that political factors do matter for wildfire suppression funding, although I was unable to find strong enough evidence to suggest that these political factors are actually driving more severe wildfires.

This …

Reshaping The Financial Order, Christopher Dula, David Kuo Chuen Lee

Research Collection Lee Kong Chian School Of Business

The financial system, which governs and manages the practice of deposits, lending and payments, is in the throes of disruption following the shortcomings of the current regime. Despite US$11 trillion in quantitative easing since 2007, economic growth has been persistently sluggish. The money isn't going where it should be. In 2015, McKinsey reported that global debt had grown by US$57 trillion since 2007. The debt is becoming unsustainable, yet the global debt-to-income ratio continues to rise disproportionally to any deleveraging. The Fed's meandering signaling to nudge up interest rates beyond the near zero range raises concerns that private and even …

Temporal Aggregation And Risk-Return Relation, Xing Jin, Leping Wang, Jun Yu

Research Collection Lee Kong Chian School Of Business

The function form of a linear intertemporal relation between risk and return is suggested by Merton's (1973) analytical work for instantaneous returns, whereas empirical studies have examined the nature of this relation using temporally aggregated data, i.e., daily, monthly, quarterly, or even yearly returns. Our paper carefully examines the temporal aggregation effect on the validity of the linear specification of the risk-return relation at discrete horizons, and on its implications on the reliablility of the resulting inference about the risk-return relation based on different observation intervals. Surprisingly, we show that, based on the standard Heston's (1993) dynamics, the linear relation …