Finance and Financial Management Commons^™

An Examination Of Control Fraud In Non-Banking Industries, Kaylie Takahashi

Honors Theses

William Black’s (2005) control fraud theory suggests accounting fraud initiated by CEOs is more damaging than accounting fraud that is not. However, this theory has only been applied anecdotally to financial institutions. I test Black’s theory using a sample of manufacturing, merchandising, and service firms that engaged in accounting fraud from 2007-2014. I hypothesize that firms which commit CEO-led fraud will exhibit greater growth, leverage, and have higher CEO compensation. My findings do not show that there is any evidence that control frauds are more damaging than other accounting frauds that do not involve the CEO.

Determining The Optimal Work Breakdown Structure For Government Acquisition Contracts, Brian J. Fitzpatrick

Theses and Dissertations

The optimal level of Government Contract Work Breakdown Structure (G-CWBS) reporting for the purposes of Earned Value Management was inspected. The G-Score Metric was proposed, which can quantitatively grade a G-CWBS, based on a new method of calculating an Estimate At Completion (EAC) cost for each reported element. A random program generator created in R replicated the characteristics of DOD program artifacts retrieved from the Cost Analysis Data Enterprise (CADE) system. The generated artifacts were validated as a population, however validation at the demographic combination level using an artificial neural network was inconclusive. Comparative WBS forms were created for a …

Predicting Schedule Duration For Defense Acquisition Programs: Program Initiation To Initial Operational Capability, Christopher A. Jimenez

Theses and Dissertations

Accurately predicting the most realistic schedule for a defense acquisitions program is an extremely difficult task considering the inherent risk and uncertainties present in the early stages of a program. We use a multiple regression analysis to predict schedule duration in a defense acquisition program. The prediction scope of our research is limited to predicting schedule duration from program initiation to initial operation capability (IOC).We use the data from 56 programs across all services, which was acquired from a SAR database created by RAND. We were able to achieve an R2 of 0.429 and an Adjusted R2 of 0.384 in …

Cost Analysis Reform: Where Do We Go From Here? A Delphi Study Of Views Of Leading Experts, Thomas W. Lamb

Theses and Dissertations

The Department of Defense (DOD) has faced many fiscal challenges in recent years, and these challenges have driven cost saving initiatives across all services and career fields. Many improvement initiatives or new policies aimed at better estimating, controlling, and reducing costs have been initiated to meet fiscal challenges. The senior leaders within the cost analysis workforce are faced with the challenge of managing change within their organizations to improve cost analysis processes and practices, while continuing to provide key decision support in the form of ongoing quality cost estimates.

This purpose of this research is to generate applicable research thrust …

Predicting Cost Growth Using Programs Reviews And Milestones For Dod Aircraft, Scott J. Kozlak

Theses and Dissertations

Past research shows predicting cost growth is an important topic with DoD systems. Researchers have attempted to predict total program cost growth as well as identify predictors of program cost growth. Our research addresses this through examining cost growth at reviews and milestones along an aircrafts schedule. We assess cost growth factors at four major reviews, Critical Design Review, First Flight, Development Test and Evaluation End, and Initial Operating Capability. The first portion of the analysis focuses on identifying cost growth factors and percent of total cost growth at the four program reviews. The second portion identifies predictors of cost …

Earned Value Reporting On Agile Software Development Programs Within The Department Of Defense, Elizabeth G. Hodson

Theses and Dissertations

The correct measurement of earned value on agile software development programs has recently been identified as a concern by software developers implementing agile development methods. This research attempts to address the difficulties in reporting earned value on agile development programs, and the differences between the measures of completion in agile development versus earned value reporting. The major difference was identified to be in translating between the work originally planned and the work that was “recently” planned as part of the agile development process. This difference, if not transparent, leads to different measurements of earned value and inconsistent reports of a …

Conflict Of Interest In 401(K) Funds, Steven D. Dolvin

All Chapters

Companies often hire third party administrators (TPAs) to manage their respective 401(k) plans. Some companies simply provide documentation and advice; however, other TPAs actually offer their own proprietary (in-house) funds as investment alternatives. New research () shows that these funds often carry higher fees and have lower returns, illustrating the impact of a conflict of interest. This is particularly pronounced for banks and insurance companies acting as TPAs.

The Rise Of The Robo-Advisor, Steven D. Dolvin

All Chapters

In response to high fees and varying levels of quality/service across traditional human advisors, new firms are transitioning to a fully automated framework. These so-called "Robo-Advisors" provide fully automated allocation and management strategies. This approach significantly reduces costs and standardizes risk-return matching strategies. See article here, CFA Institute.

2016 Private Capital Markets Report, Craig R. Everett

Pepperdine Private Capital Markets Report

The Pepperdine private cost of capital survey was originally launched in 2007 and is the first comprehensive and simultaneous investigation of the major private capital market segments. This year’s survey specifically examined the behavior of senior lenders, asset‐based lenders, mezzanine funds, private equity groups, venture capital firms, angel investors, privately‐held businesses, investment bankers, business brokers, limited partners, and business appraisers. The Pepperdine survey investigated, for each private capital market segment, the important benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today’s economic …

Establishing Construct Validity And Reliability: Pilot Testing Of A Qualitative Interview For Research In Takaful (Islamic Insurance), Maryam Dikko

The Qualitative Report

This paper describes the process of the conduct of preliminary tests to determine the construct and content validity of the chosen data collection method for a study into the relationship between Islamic principles and objectives, Islamic financial law and takaful (slamic Insurance) operations and practices in Nigeria. Semi-structured interviews were tested on a select group of respondents mirroring the intended subjects in the field. The pilot test showed the construct to be both valid and reliable while giving the opportunity to insert refinements to the research tool.

Nasdaq To Acquire Ise, Steven D. Dolvin

All Chapters

Nasdaq is set to acquire the International Securities Exchange (ISE). The combined firm will manage six exchanges, representing 38 percent of US options trading. This will surpass the CBOE, which manages about 27 percent of the option trading market. See article here, Bloomberg.

Indiana Transportation Funding Update, Dan Brassard

Purdue Road School

This presentation will provide an update on the current and future state of Indiana’s transportation funding.

Target Date Funds And Dollar Cost Averaging, Steven D. Dolvin

All Chapters

Target Date Funds simplify the investment process for investors, as such funds oversee changing asset allocations through time. A secondary benefit is that with these "set it and forget it" funds, investors are less likely to try to time the market. This is good since such activity generally hurts (rather than helps) most investors. In fact, staying the course allows investors to benefit from downside market volatility, as continued investment enables investors to buy more shares at lower prices, so-called dollar cost averaging. See article here, WSJ.

The New Requirements Relating To Going Concern Evaluation And Disclosure Provide A Critical Improvement To The Financial Statements Taken As A Whole, Achraf A. Seyam, Sharon Brickman

Publications and Research

The going concern principle assumes that an entity will continue to exist into the future. This assumption implies that the entity will not be compelled to end their operations, liquidate their assets, or go into bankruptcy. It is an integral assumption in financial statements since it allows for the deferral of recognition of certain expenses until a period of time into the future, when the company is still assumed to exist. Members of management, as well as financial statement auditors, are required to identify signs that could indicate that an entity will not be able to continue their operations into …

Federal Home Loan Bank Advances And Small Business Lending, Travis R. Davidson, W. Gary Simpson

The Journal of Entrepreneurial Finance

Adequate credit availability for small businesses is an important public policy issue because small businesses are essential for employment and economic growth for the economy. The Gramm-Leach-Bliley Act of 1999 includes a provision that could potentially support financial institutions in the provision of credit to small businesses through the use of advances from the Federal Home Loan Bank (FHLB) system that are secured with small business loans. We explore the relation between FHLB advances to financial institutions and the provision of loans to small businesses. We find a positive link between the change in FHLB advances and the change in …

Commercial Bank Small Business Lending Pre And Post Crisis, Kevin T. Jacques, Richard Moylan, Peter J. Nigro

The Journal of Entrepreneurial Finance

We analyze small business lending at U.S. commercial banks, how it has changed over time and how it differs by bank size. Specifically, we examine the impact of government policy intervention on small business lending in the aftermath of the financial crisis. We find several important results. First, we find that the Troubled-Asset Relief Program’s (TARP) $200 billion Capital Purchase Program (CPP) had little impact on the banks that received capital injections’ small business lending. Second, the Small Business Loan Fund (SBLF) lending program appears to have been a success as banks participating in the loan fund increased their lending …

External Management Reserve: Overview And Performance Of Major Asset Classes For The Period 2000-2016, Mujtaba Muhammad Farouk, Abdurrahman Abdullahi

Bullion

This paper discusses in detail, various asset classes available to both active and passive reserves managers and analyse the performance of the asset classes held mostly by central banks. Following an introduction, the paper is structured as follows: Section two reviewed literature on reserves management, including motives and what guides the decisions of the investment committee in determining asset classes. Section three analysed the various asset classes that reserves managers invest in, while section four evaluates the major central banks' asset classes' performance over the lost fifteen years covering the period before and after the 2008 global financial crisis. Section …

Is The Discovery Of Oil A Curse Or A Blessing To Nigeria?, Ahmed S. Saidu, Saidu B. Aliyu, Umar A. Zubair

Bullion

The discovery of oil in commercial quantity in Oloibiri in Niger Delta in 1955 opened a new chapter in the economic landscape of Nigeria. Before the discovery of oil resources, agriculture was the main source of government revenue. Over the years however, revenue from oil export become the backbone of the economy. The annual budget, which defines economic direction the country charts, is solely based on crude oil revenue. This situation can be likened to one putting his eggs in one basket. And it is exactly this situation that has become the major source of agitation by oil producing areas …

The Impact Of Relationship Marketing (Rm) On Relationship Quality (Rq): Empirical Evidence From Commercial Bank Customers In Nigeria., Sunny E. Ekakitie

Bullion

The study set out to determine the impact of Relationship Marketing (RM) on relationship quality (RQ), with respect to the services Nigerian banks deliver to their clients. Three hypotheses were formulated to drive the study. Survey research design was adopted using a 48-item Likert style questionnaire to capture the opinions of valued clients. The study covered the six geo-political zones in Nigeria with 4 states drawn randomly from each zone. Extensive literature on RM and RQ were reviewed. Models/theories were lucidly discussed with the study evolving the quality/customer satisfaction model which is a modification of Zineldin's (2006) technical and functional …

Treasury Single Account System And Economic Juche: The Nigerian Experience., Kingsley Imandojemu

Bullion

This paper critically examines the nexus between the full implementation of the Treasury Single Account System (TSA) and Economic emancipation in Nigeria. Using data sourced from the Central Bank of Nigeria Statistical Bulletin, the study employed the use of explorative analysis. Findings emanating from the research indicate that the full implementation of TSA is capable of rejuvenating the drive for economic emancipation in Nigeria. Therefore, this paper has recommended policy reforms to serve as an operational framework for the full implementation of TSA, being one of the pre-conditions of optimal resource utilization and economic autarky.