Do Education, Spending Habits And Planning Habits Affect Investing Habits?,
2016
Lindenwood University
Do Education, Spending Habits And Planning Habits Affect Investing Habits?, Miran Simunic
Theses
The purpose of this thesis is to explore the influence of formal education, spending habit, and planning habit on investing habit, while controlling for age, gender, income, and self-perception of financial knowledge. The previous studies tested the influence of education on certain money management skills or investing habits, but none of them explored the influence of formal education, spending habit and planning habit on investing habits. This thesis explores this influence of those three independent variables with control variables on a sample that represents the entire population of the United States. The testing is performed on the data from 2012 …
2016 Q1 Private Capital Access Index Report,
2016
Pepperdine University
2016 Q1 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.
Correlation Concerns,
2016
Butler University
Correlation Concerns, Steven D. Dolvin
All Chapters
Modern Portfolio Theory (MPT) is based on the notion that diversification creates better (a.k.a., more efficient) portfolios. The benefit of the diversification stems from less than perfect correlations between asset classes. However, during times of extreme stress, and even in recent years with market integration, correlation values have increased. This calls into question whether diversification will bring the full benefit that it is expected to provide. See article here, Bloomberg.
Financial Conflict Messages And Marital Satisfaction: The Mediating Role Of Financial Communication Satisfaction,
2016
Illinois State University
Financial Conflict Messages And Marital Satisfaction: The Mediating Role Of Financial Communication Satisfaction, Samantha Josephine Shebib
Theses and Dissertations
The current study explores how methods of handling financial disagreements contribute to, or detracts from, marital satisfaction. In addition, satisfaction with communicating about financial obligations in marriage is predicted to contribute to marital satisfaction.
Negative Interest Rates,
2016
Butler University
Negative Interest Rates, Steven D. Dolvin
All Chapters
Sweden's central bank has followed other major countries and further reduced its interest rate -- making it even more negative. With negative interest rates, banks that store money with the central bank must pay to do so (rather than earning interest as would normally be the case). The goal is to induce banks to hold less money (thereby lending more and increasing economic activity). See article here, The Telegraph.
Credit Default Swaps Signal Warning,
2016
Butler University
Credit Default Swaps Signal Warning, Steven D. Dolvin
All Chapters
Credit Default Swaps allow investors to hedge the risk of default on underlying debt, essentially acting as put options. Recently, CDS prices on the debt of banks such as Goldman Sachs and Deutsche Bank have increased in price, signaling a larger possibility of default. Many investors view CDS prices as a barometer of faith, thereby suggesting that bank stocks are poised for further declines. See article here, WSJ.
Mergers And Acquisitions Document Vector Space Analysis,
2016
Brigham Young University
Mergers And Acquisitions Document Vector Space Analysis, Steven Fortney, Karl Diether
Journal of Undergraduate Research
This project involved looking at Mergers and Acquisitions and a textual analysis of their SEC filings. We index, clean and match documents in the SEC EDGAR database to the CRSP and Compustat databases in order to consider multiple instruments for “specificity” and uniqueness in a filing. We then scrape each document and use the data to create these instruments. One instrument for specificity we create uses parts of the Stanford Natural Language Processing library and the NLTK and GenSim libraries in python to convert each filing into a vector in a vector space. This allows us to find the cosine …
Ipo Markets In Asia Financial Centers : How The Different Ipo Locations Affect Firms’ Stock Prices,
2016
Lingnan University
Ipo Markets In Asia Financial Centers : How The Different Ipo Locations Affect Firms’ Stock Prices, Yuanzhen Jiang
Lingnan Journal of Banking, Finance and Economics
For most of non-listed corporations when they are confronting the issues of cutting capital cost, to increase the base of their investors, to develop the firm business quicker, or even to diversify the pool of investors, one of the most important alternatives that the executives and shareholders of these corporations may think is to do IPO (Initial Public Offering); which could be done in the domestic or in the foreign IPO markets. This paper firstly introduces the situation and differences among different IPO markets in Asia major financial centers that includes Mainland China, Hong Kong and Singapore. Then it will …
Should Hong Kong Maintain A Linked Exchange Rate System?,
2016
Lingnan University
Should Hong Kong Maintain A Linked Exchange Rate System?, Hoi Yin Tsoi
Lingnan Journal of Banking, Finance and Economics
The linked exchange rate was implemented in 1983. This paper finds that over these 32 years, this system did bring lots of benefits to Hong Kong. Nevertheless, as Hong Kong is a vastly different place now relative to what it was 32 years ago, the costs for the adoption of the link outweigh the benefits so this system is no longer suitable for Hong Kong. It is suggested that in order to serve the best interest of Hong Kong, it should not maintain the linked exchange rate system and should switch to the managed floating exchange rate system.
Empirical Study : Shanghai-Hong Kong Stock Connection Sign Of Efficiency Improvement?,
2016
Lingnan University
Empirical Study : Shanghai-Hong Kong Stock Connection Sign Of Efficiency Improvement?, Ming Cheung Fok
Lingnan Journal of Banking, Finance and Economics
Stock market connection encourages local corporations cross-listing in overseas stock markets which will, theoretically, enhance the information flow between countries and the stock market efficiency. In view of a closed economy like China and a free economy like Hong Kong, the announcement of Shanghai-Hong Kong stock connection program seems to be a great opportunity for testing the well-known Efficiency Market Hypothesis (EMH). Employing Capital Asset Pricing Model (CAPM) and the random walk model suggested by previous studies, this paper will present the comparison of market performance before and after the connection as evidences for the hypothesis testing.
An Empirical Analysis Of Factors Influencing China's Real Estate Prices-Based On The Var Model,
2016
Lingnan University
An Empirical Analysis Of Factors Influencing China's Real Estate Prices-Based On The Var Model, Pan Xiao
Lingnan Journal of Banking, Finance and Economics
The real estate industry has an increasingly significant position in our national economy. It is important for real estate investment and national macro-control to analyze the main factors that affect its prices, in order to predict its future movements. In this paper, the dynamic econometric analysis method was used to analyze these macroeconomic factors that influence the real state prices on a empirical research. And the results show that the expected prices of real estate, money supply, real estate development investment and household income are the dominant factors influencing them.
Factors In The Returns On Stock : Inspiration From Fama And French Asset Pricing Model,
2016
Lingnan University
Factors In The Returns On Stock : Inspiration From Fama And French Asset Pricing Model, Yuanzhen Jiang
Lingnan Journal of Banking, Finance and Economics
Under the inspiration of Fama and French asset pricing model, this paper mainly studies the relationship between the month return of A shares and the factors that may have an effect on the stocks’ month return. It also compares the differences in the reaction of all shares and GEM board shares to these factors. It is important to highlight that these factors include the market, firm size, earnings and book-to-market information. The data used in this project comes from the quarterly data of China stock market from March of 2000 to December of 2011 and was used in panel model …
Short Covering In Oil Drives Prices,
2016
Butler University
Short Covering In Oil Drives Prices, Steven D. Dolvin
All Chapters
Suppliers reported an increase in crude oil inventories, yet contrary to supply and demand fundamentals, prices rose. Much of this is attributed to short sellers covering their positions at what is expected to be the low point in prices. See article here, Reuters.
Yield Curve Irrelevant?,
2016
Butler University
Yield Curve Irrelevant?, Steven D. Dolvin
All Chapters
When longer term interest rates fall below shorter term interest rates (a so-called inverted yield curve), economists generally warn of an impending recession. However, with short term rates so low, the usefulness of this indicator may be fading. See article here, Bloomberg.
How Informative Is Floating Nav When Securities Trade Infrequently?,
2016
Texas Tech University
How Informative Is Floating Nav When Securities Trade Infrequently?, Kyle D. Allen, George D. Cashman, Drew B. Winters
Finance Faculty Research and Publications
We examine if a floating net asset value (NAV) increases the transparency of risk for investors. Using closed-income fixed income funds we find little evidence that a floating NAV helps investors better understand the value and risk of a fund when a fund's assets trade infrequently. This potentially informs the debate regarding the adoption of a floating NAV in the money market industry. Our results suggest that it is unlikely that the benefits of floating NAV will outweigh the costs.
Option Return Predictability,
2016
Singapore Management University
Option Return Predictability, Jie Cao, Han Bing, Qing Tong, Xintong Zhan
Research Collection Lee Kong Chian School Of Business
We show the cross-section of equity option returns can be predicted by a variety of underlying stock characteristics and firm fundamentals, including idiosyncratic volatility, past stock returns, profitability, cash holding, new share issuance, and dispersion of analyst forecasts. Such predictability is not mechanically inherited from the stock market because these variables do not significantly predict stock returns in our sample, and our results hold for delta-hedged calls and puts in the same directions. We document new option trading strategies that are profitable even after transaction costs. These profits are robust across different market conditions and subsamples. They cannot be explained …
Bank Competition And Financial Stability: Evidence From The Financial Crisis,
2016
Rice University
Bank Competition And Financial Stability: Evidence From The Financial Crisis, Brian Atkins, Lynn Li, Jeffrey Ng, Tjomme O. Rusticus
Research Collection School Of Accountancy
We examine the link between bank competition and financial stability using the recent financial crisis as the setting. We utilize variation in banking competition at the state level and find that banks facing less competition are more likely to engage in risky activities, more likely to face regulatory intervention, and more likely to fail. Focusing on the real estate market, we find that states with less competition had higher rates of mortgage approval, experienced greater housing price inflation before the crisis, and a steeper housing price decline during it. Overall, our study is consistent with greater competition increasing financial stability.
Mutual Fund Fees Continue To Fall,
2016
Butler University
Mutual Fund Fees Continue To Fall, Steven D. Dolvin
All Chapters
Passive funds have historically outperformed active funds, and much of this difference is likely driven by the lower fees charged by passive funds. A discusses the impact on both investors and the industry.
In Equations We Trust? Formula Learning Effects On The Exponential Growth Bias,
2016
Butler University
In Equations We Trust? Formula Learning Effects On The Exponential Growth Bias, Bryan Foltice, Thomas Langer
Scholarship and Professional Work - Business
This paper evaluates the possible benefits and drawbacks of the formal formula learning of compound growth as it pertains to eliminating, or at least reducing, the exponential growth bias in various household savings and debt decisions. In our main experimental study, we determine if the ability to calculate the simple compound savings formula only assists in its direct area of application with an available calculator, or if this knowledge extends into similar exponentially-based savings and debt decisions when either a calculator is prohibited or when the formula is unknown. In the process of tackling this research question, we develop a …
David Bowie: Finance Genius?,
2016
Butler University
David Bowie: Finance Genius?, Steven D. Dolvin
All Chapters
Famous musician David Bowie just passed away. While most people remember him for his music, he is also famous in the finance area. Bowie was among the first to offer an asset-backed security, which in his case was based on future royalties from his songs. In recognition, this type of asset is often referred to as a "Bowie-bond." See article here, Bloomberg.
