Competitive Strategies Of Microfinance Owners In Ghana,
2017
Walden University
Competitive Strategies Of Microfinance Owners In Ghana, Eric Kojo Asante
Walden Dissertations and Doctoral Studies
Ghanaian microfinance banks (MFB) experience a high collapse rate, with more than 100 MFBs failing between 2015 and 2016. Grounded on Porter's competitive strategy theory, the purpose of this case study was to explore successful strategies used by selected participants to achieve business sustainability. Fourteen participants from 6 successful MFBs in the Greater Accra Region, including managers and MFB owners with more than 5 years of professional and industry experience, participated in semistructured interviews. Observations and company documents served as a secondary source of data collection. Through thematic analysis, 5 themes emerged: cash and liquidity management, capacity building, monitoring, compliance, …
Strategies And Processes For Implementing Financial Analysis For Business Success,
2017
Walden University
Strategies And Processes For Implementing Financial Analysis For Business Success, Dawn Theona Alexander-Joseph
Walden Dissertations and Doctoral Studies
The early failure of startup businesses is a concern for many local communities, including the Virgin Islands, with about half of startups failing within the first 5 years of their life cycle. Besides the social and economic impact on communities, these failures have a personal effect on small business owners. Grounded in decision-making theory and the theory of financial management, the purpose of this single case study was to explore strategies and processes Virgin Islands retail business managers use to implement financial analysis for decision making to help sustain their operations. Data were collected using company records and semistructured interviews …
Financing Strategies For Real Estate Investments,
2017
The University of Akron
Financing Strategies For Real Estate Investments, Joshua Parr
Williams Honors College, Honors Research Projects
Most people have a dream of being financially independent and in order to do so it is necessary to save and invest their money. The key is to invest wisely so that one can earn a solid return on their money. Real estate investments are a great way to build wealth because of the benefits they have over other investments. Many are under the misconception that they cannot invest in real estate because of a lack of capital. This belief is entirely untrue and there are dozens of different strategies for investing in real estate with little or no capital …
Using Accounting Information To Forecast Market Performance,
2017
The University of Akron
Using Accounting Information To Forecast Market Performance, Tyler Atanasov
Williams Honors College, Honors Research Projects
This study examines how accounting information can be used to forecast market performance of stocks. We used the specific accounting information of earnings-to-price and book-to-market value ratios, in relation to a stocks 5-year holding period return to determine market performance. The most current, quarterly data with a longer sample period than previous studies was used. First, portfolios of stocks were formed based on the value of each stocks ratio. Next, univariate tests were then run on each ratio’s portfolios to determine if there was statistical significance in the differences among the portfolios returns. Lastly, we determined that investors could earn …
Are Shorts Equally Informed? A Global Perspective,
2017
Singapore Management University
Are Shorts Equally Informed? A Global Perspective, Ekkehart Boehmer, Zsuzsa R. Huszar, Yanchu Wang, Xiaoyan Wang
Research Collection Lee Kong Chian School Of Business
Short selling predicts future stock returns globally. We use 11 short-sale measures to examine the informativeness of short sales in 38 countries for the July 2006 to December 2014 period. We find that different short-sale measures display different return predictability. The days-to-cover ratio and loan supply measures have the most robust predictive power in the global capital market. We also document significant cross-country differences in the predictive power of the short selling measures and find that return predictability is stronger in countries with mild forms of short-sale restrictions, better market quality, and more developed markets.
Are Capital Market Parameters Estimated From Yahoo Finance And Nasdaq Data The Same?,
2017
Jacksonville State University
Are Capital Market Parameters Estimated From Yahoo Finance And Nasdaq Data The Same?, Ronnie Clayton, Bill Schmidt
Research, Publications & Creative Work
Empirical studies need good data sources; yet such data sources are expensive; either in the time that is dedicated to gathering information or in the actual funds expended to obtain user friendly databases such as those provided by Wharton Research (wrds.) at the University of Pennsylvania. Many authors must expend the time to obtain data because funding is not available to obtain more expensive databases. The question then becomes "Which publicly available data source should one use or are the data obtained from different publicly available sources the same?" This study compares parameters estimated from daily returns for a sample …
Short And Long Run Uncertainty,
2017
Stanford University
Short And Long Run Uncertainty, Jose Maria Barrero, Nicholas Bloom, Ian Wright
Faculty Publications
Uncertainty appears to have both a short-run and a long-run component, which we measure using firm and macro implied volatility data from options of 30 days to 10 years duration. We ask what may be driving uncertainty over these different time horizons, finding that oil price volatility is particularly important for short-run uncertainty, policy uncertainty is particularly important for long-run uncertainty, while currency volatility and CEO turnover appear to equally impact shortand long-run uncertainty. Examining a panel of over 4,000 firms from 1996 to 2013 we find that R&D is relatively more sensitive to long-run uncertainty than investment, and in …
The Impact Of Socially Conscious Initiative Announcements On Coffee Company Stock Values,
2017
Walden University
The Impact Of Socially Conscious Initiative Announcements On Coffee Company Stock Values, Glenn Thomas Smith
Walden Dissertations and Doctoral Studies
Stockholders invest billions of dollars in the purchase of new corporate coffee stock while producers of these commodities exist in poverty of developing nations. Corporate managers may miss the opportunities for offering humanitarian aid if potential stockholders do not know of corporate social change initiatives. Little research in the influence of socially conscious initiatives exists in the coffee sector and none concentrating on socially conscious initiative announcements. If a relationship exists between socially conscious initiative announcements and stock investments, then managers could justify funding social change initiatives. This quantitative study used a 5 day pre and post event study methodology …
A Case Study Of Financial Literacy And Debt Of Immigrants In Lloydminster, Canada,
2017
Walden University
A Case Study Of Financial Literacy And Debt Of Immigrants In Lloydminster, Canada, Oludamola Olalere Durodola
Walden Dissertations and Doctoral Studies
The high debt-to-income ratios and the low financial literacy levels among Canadian immigrants are hindering public welfare, macroeconomic policies, and economic growth. The purpose of this qualitative exploratory case study was to explore why immigrants to Lloydminster, Canada possess high debt-to-income ratios in their financial portfolios by examining pertinent themes and patterns between their debt profiles and their financial literacy levels. The life cycle hypothesis, rational choice theory, and bounded rationality theory grounded the study. Data collection from the purposeful sample included semistructured face-to-face interviews with 13 adult immigrants and a focus group discussion with 6 adult immigrants, all of …
The Determinants Of Traffic Citation Revenues On Florida's Clerks Of Court And Comptrollers,
2017
Walden University
The Determinants Of Traffic Citation Revenues On Florida's Clerks Of Court And Comptrollers, Corey A. Hamilton
Walden Dissertations and Doctoral Studies
In the wake of budgetary restraints, many local government organizations are examining existing sources of revenue to exhaust available streams without increasing constituents' financial burden. Some of these revenue streams include nontraditional sources, such as traffic citations, yet little research has explored the implications of revenue generated from fines from traffic citations. Using the theory of resource dependence as the foundation, the purpose of this study was to explore the relationship between the estimated population of the county, the unemployment rate of the county, and the personal income per capita against the number of traffic citations issued and the Florida …
Strategies Microbusiness Owners In Ghana Use For Managing Microloans,
2017
Walden University
Strategies Microbusiness Owners In Ghana Use For Managing Microloans, Stephen Ekow Edusah
Walden Dissertations and Doctoral Studies
High interest rates, many mortgage defaults, and availability of capital are challenges for microbusiness owners. The purpose of this phenomenological study was to explore the strategies used by Ghana's microbusiness owners to manage microloans for sustainable businesses in Cape Coast, Ghana. Putnam's social capital theory was the conceptual framework for the study. A purposive and snowball sample of 10 participants completed semistructured interviews and described their perceptions and experiences of the phenomena. Data were analyzed using Moustakas' modified van Kaam method to catalog, group, and code information into themes. The study findings indicated there are high-interest rates and many mortgage …
Strategies For Recruiting Cybersecurity Professionals In The Financial Service Industry,
2017
Walden University
Strategies For Recruiting Cybersecurity Professionals In The Financial Service Industry, Iva Walters
Walden Dissertations and Doctoral Studies
The cybersecurity market is the fastest growing market in the United States; as such, leaders in financial institutions recognize their businesses are vulnerable, as money is accessible within computerized banking systems. The purpose of this multiple case study was to explore what strategies financial service leaders- use to recruit cybersecurity professionals. The conceptual framework for this study was the hierarchy of needs and stakeholder management theory. Data collection involved company archival documents and semistructured, open-ended interviews with 5 financial service leaders in the Midlands area of South Carolina who recruited skilled cybersecurity professionals to support long-term business sustainability. Coding, clustering, …
Relationship Between Mutual Fund Type, Portfolio Turnover, Longevity, Management Turnover, And Performance,
2017
Walden University
Relationship Between Mutual Fund Type, Portfolio Turnover, Longevity, Management Turnover, And Performance, Medhanie G. Mekonnen
Walden Dissertations and Doctoral Studies
Mutual fund portfolio managers do not always meet risk-adjusted performance expectations, resulting in loss of capital reserves. Out of 3,612 U.S. based open-ended mutual funds, the risk-adjusted performance of 2,890 (80%) failed to meet or beat the S&P 500 (index fund) performance between the year 2006 to 2016. Grounded in Markowitz's modern portfolio theory, the purpose of this correlational study was to examine the relationship between mutual fund class type, portfolio turnover, fund longevity, management turnover, and annual fund risk-adjusted performance. Archival data were collected from 88 U.S. based equity mutual funds companies. The results of the multiple regression analysis …
Hedging Exchange Rate Risks,
2017
Walden University
Hedging Exchange Rate Risks, Godwill George Wanga
Walden Dissertations and Doctoral Studies
Risks associated with fluctuating exchange rates affect investment cost and investor profitability. Approximately 50% of firms in emerging markets have significant exposure to fluctuating exchange rates. Grounded in principal-agent theory (PAT), the purpose of this case study was to explore hedging strategies to mitigate risks of fluctuating exchange rates. The population comprised a census sampling of 12 bank hedgers (risk managers and controllers) in Dar es Salaam in Tanzania, East Africa. Data collection involved semistructured interviews, casual observations of the work environment, and analysis of reports including risk management, internal control, and compliance policies. Data were analyzed by coding and …
Exploring Student Loan Personal Financial Management Decisions Using A Behavioral Economics Lens,
2017
Walden University
Exploring Student Loan Personal Financial Management Decisions Using A Behavioral Economics Lens, Michael J. Wermuth
Walden Dissertations and Doctoral Studies
There is a student loan debt problem in the United States. Seven million student borrowers are in default and another 14 million are delinquent on their loans. A high level of college loan debt leaves students with insurmountable payments and holds them back from starting a family, buying a home, or saving for retirement. The problem is that financial managers may not understand the student loan decision process well enough to help students make a loan decision that prevents an unmanageable level of debt. The purpose of this study was to explore and understand the student's loan decision process using …
Successful Strategies Used By Small Business Owners For Company Sustainability,
2017
Walden University
Successful Strategies Used By Small Business Owners For Company Sustainability, Robert Oppong
Walden Dissertations and Doctoral Studies
According to the U.S. Small Business Administration, African Americans are the fastest growing entrepreneurial minority group in the United States. However, they suffer the highest business failure rates. The research design for this study was a multiple case study to explore the strategies small business owners used to succeed in business beyond 5 years. The conceptual framework for this study was the systems theory. The population was small business owners in the Dallas-Fort Worth metropolis, Texas. Data collection sources included semistructured interviews, company documents, company websites, and site visit observations. The data analysis process included data cleaning, uploading transcribed interviews …
Strategies For Effective Financial Management In Vincentian Small Businesses,
2017
Walden University
Strategies For Effective Financial Management In Vincentian Small Businesses, Kishore Nalin Shallow
Walden Dissertations and Doctoral Studies
The lack of strategies for effective financial management has been an impediment to the survival and growth of many small businesses in Saint Vincent (St. Vincent), an island in the Caribbean. Inadequate adoption of strategies by small business owners is a prime contributing factor to small business failure. The purpose of this research was to identify strategies that small business owners use for effective financial management. Institutional theory served as the conceptual framework for this multiple case study. Participants consisted of 4 St. Vincent small business owners who had demonstrated effective financial management strategies in the operation of their businesses. …
Final Demand For Structured Finance Securities,
2017
Brigham Young University - Provo
Final Demand For Structured Finance Securities, Craig B. Merrill, Taylor Nadauld, Philip E. Strahan
Faculty Publications
Structured finance boomed during the run-up to the 2008 financial crisis. Highly rated, structured securities offered higher yield than other similarly rated bonds because of their concentration of systematic risk, but regulatory capital requirements did not account for this risk. As a result, regulated entities facing capital constraints had an incentive to invest in them. We show that life insurance companies exposed to unrealized losses from low interest rates in the early 2000s increased their holdings of highly rated securitized assets, consistent with regulatory arbitrage distorting the demand to hold these assets.
Marital Status And Earnings Management,
2017
Georgetown University
Marital Status And Earnings Management, Gilles Hillary, Sterling Huang, Yanping Xu
Research Collection School Of Accountancy
In this note, we examine the effect of CEO marital status on the riskiness of financial reporting. Using multiple proxies, we find that firms headed by a single CEO display a higher degree of earnings management than those headed by a married CEO. The effect is economically significant. Our results persist in an instrumental variable regression, suggesting that our results are not driven by innate heterogeneity in preferences.
Pricing Kernel Monotonicity And Conditional Information,
2017
University of Massachusetts
Pricing Kernel Monotonicity And Conditional Information, Matthew Linn, Sophie Shive, Tyler Shumway
Faculty Publications
A large literature finds evidence that pricing kernels nonparametrically estimated from option prices and historical returns are not monotonically decreasing in market index returns. We argue that existing estimation methods are inconsistent and propose a new nonparametric estimator of the pricing kernel that reflects the information available to investors who set asset prices. In simulations, the estimator outperforms existing techniques. Our empirical estimates using S&P 500 index option data from 1996 to 2014 and FTSE 100 index option data from 2002 to 2014 suggest that the "pricing kernel puzzle'' is due to flaws in existing estimators rather than a behavioral …
