Finance and Financial Management Commons^™

Improving Financial And Personnel Management At Petsfirst! Wellness Center, Andrew Arveseth

Undergraduate Honors Capstone Projects

A part of my coursework in the Jon M. Huntsman School of Business, I was able to participate in a management internship at PetsFirst! Wellness Center. This internship provided me with the opportunity to really evaluate and understand multiple elements of a management position. I specifically focused on client incentives, cost management, and human resources during the course of my internship project at this veterinary clinic. My responsibilities in each of these business functions helped me develop the skills necessary to effectively hold a management position after graduation.

A Management Buyout In The Lower Middle Market, James Kenneth Allred

Undergraduate Honors Capstone Projects

ABC Inc., "ABC" or "The Company", is a leading manufacturer of precision rotary valves, feeders, screw conveyors, and components found in industrial material handling systems. Due to their proprietary products, exceptional durability, and custom design and manufacturing processes, ABC has developed a reputation as a premium manufacturer and supplier of choice across various industries. ABC initially targeted the wood products industry, and pulp and paper remains its largest industry segment today, but The Company has since expanded its services to mining, cement, chemical companies as well as coal and biomass burning plants. In addition to its proprietary products, ABC provides …

Do Market Anomalies Add Up?, Larissa C. Steinfeldt

Undergraduate Honors Theses

This is a study about abnormal characteristics in the stock market and how to successfully use them in personal portfolios. Market anomalies are unexpected excess returns that occur in relation to certain variables. Five commonly known market anomalies (market cap, price-earnings ratio, price-book value, momentum, volatility) are tested to give evidence for their presence. Existing variables are then combined in different portfolios in order to observe whether they generate greater excess returns combined rather than individually. This study will also reveal whether long-term holding is possible and how the anomalies react in bullish and bearish markets.

Irrational To Expect Low Risk And High Returns, Benedict Koh

Research Collection Lee Kong Chian School Of Business

The low interest paid on Central Provident Fund (CPF) balances when compared with the relatively high returns earned by government investment entities such as Temasek Holdings and GIG is a common gripe.

Wealth Management In Singapore, Francis Koh

Research Collection Lee Kong Chian School Of Business

As early as 2015, Singapore may oust Switzerland as the world’s top finance hub. But the path forward requires adjustments in the strategic direction of individual firms. Wealth management in Singapore is vibrant, growing, challenging.

Realistic Ways To Raise Cpf Returns, Benedict Koh

Research Collection Lee Kong Chian School Of Business

The CPF Investment Scheme can be modified to help financially illiterate members make better investment decisions.

Bank Accounting Conservatism And Bank Loan Pricing, Chu Yeong Lim, Edward Lee, Asad Kausar, Martin Walker

Research Collection School Of Accountancy

This paper studies the effects of bank accounting conservatism on the pricing of syndicated bank loans. We provide evidence that banks timelier in loss recognition charge higher spreads. We go onto consider what happens to the relationship between spreads and timeliness in loss recognition during the financial crisis. During the crisis, banks timelier in loss recognition increase their spreads to a lesser extent than banks less timely in loss recognition. These findings are broadly consistent with the argument that conditional accounting conservatism serves a governance role. The policy implication is that banks timelier in loss recognition exhibit more prudent and …

Crony Chronicles Website Redesign, Lindsey Marie Mcbride

Undergraduate Honors Capstone Projects

The policy team at the Charles Koch Institute is broken into different areas of research. During my summer internship, I was assigned to research crony capitalism with four other members of the policy team. Along with their research on crony capitalism, these team members maintained a website called cronychronicles.org. For a definition of crony capitalism, or cronyism, see Appendix C. The goal of the website was to be "the leading online resource for everything related to cronyism" (About Us). I was very interested in the research I was conducting on crony capitalism, and enjoyed contributing information to the Crony Chronicles …

An Exercise In Bayesian Econometric Analysis Probit And Linear Probability Models, Brooke Jeneane Siler

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

The aim of this paper is to carry out a Bayesian econometric application. Using a dataset obtained from Wooldridge's Introductory Econometrics textbook, each step in conducting a Bayesian econometric analysis is performed and explained. For illus- trative and comparative purposes, two limited dependent variable regression forms were used: a linear probability model and a probit model. This paper covers the ben- ets of Bayesian methodology, including selection of distributions for the prior and the likelihood. Additionally, a series of diagnostic checks are done after the models are computed.

Bayesian Inference: Probit And Linear Probability Models, Nate Rex Reasch

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

The following paper analyzes the benets of Bayes' theorem in applied econo- metrics. This is accomplished by demonstrating each step in conducting Bayesian inference. This includes the prior selection, the likelihood function, posterior simula- tion, and model diagnostics. To provide a concrete example I replicate, by Bayesian inference, the main model of Blau, Brough, and Thomas.(2013) This model is found in their research paper titled, Corporate lobbying, Political Connections, and the Bailout of Banks. The analysis focuses on two dierent forms of limited dependent variable regressions, the probit and linear probability model. The benets of Bayesian econo- metrics were extensive …

Apple Issues Debt To Buyback Stock, Steven D. Dolvin

All Chapters

Apple has $150 Billion in cash, yet it has decided to issue $17 Billion in new debt to fund its stock repurchases. Why not just use cash on hand? One reason is that almost 90% of the cash is held outside the US, and repatriating the cash would trigger significant tax liabilities. Another reason is that interest rates are so low, and if Apple can earn a higher return than the cost, the added financial leverage will be a benefit to shareholders. (See article here, CNBC.)

Usage Of Derivatives In Business Today, Duston J. Hodgkins

Honors Scholar Theses

Derivatives were created as a method of hedging risks. Yet in today's society, derivatives have taken on many new roles, and with it have systemically changed the way the financial industry operates. Warren Buffett called these powerful tools "financial weapons of mass destruction." No longer do these tools simply mitigate risks; instead, they are creating new and potentially lethal risks. How did their usage shift from risk management? This thesis delves into what actions occurred over the past half century that drove derivatives usage to what is facing the market today. Through the exploration of major successes and failures of …

Is Geographic Diversification Associated With Increased Risk? Evidence From The Spanish Banking Crisis, Briana Anderson

Business and Economics Honors Papers

This paper examines the association between geographic diversification and Spanish savings bank (caja) failure. The paper focuses on the geographic expansion of cajas between 2002 and 2012 and failure of several cajas between 2008 and 2011 during the Spanish banking crisis. Employing financial statement and branch location data collected from the CECA, logit models were used to test the association between failure and geographic and cultural diversification. This paper finds that, depending on the model estimated, geographic and cultural diversification of cajas either reduced or had no effect on the odds ratio of failure, suggesting that the benefits …

All Earnings Are Not The Same, Steven D. Dolvin

All Chapters

Two companies in the same industry with the same earnings per share (EPS) may be quite different, particularly depending on how they report their earnings. For example, companies can choose different depreciation methods (e.g., straightline, accelerated, etc.) and inventory accounting approaches (e.g., LIFO, FIFO, etc.). However, while these choices all fall within generally accepted accounting principles (GAAP) and are relatively easy to reconcile, business also have many choices with regard to reported adjustments to earnings, which are more opaque. Click here for a recent article discussing the discrepancies.

Essays On Mergers And Acquisitions, Marcin Krolikowski

USF Tampa Graduate Theses and Dissertations

This dissertation includes two essays that examine mergers and acquisitions. In the first essay we examine how pay-for-performance influences the quality of merger decisions before and after Sarbanes-Oxley (SOX). Pay-for performance has a significant positive effect on acquirer returns of 0.9% pre-SOX and 1.1% post-SOX around the three day event window. Bidders with high pay-for-performance pay a 23.3% lower merger premium in listed target acquisitions. The positive effect of pay-for-performance is more important for public target acquisitions overall, for small acquirers pre-SOX, and for large acquirers post-SOX. In the long-run, bidders with high pre-merger pay-for-performance experience 27.6% higher returns after …

Two Essays On Individuals, Information, And Asset Prices, Joseph Mohr

USF Tampa Graduate Theses and Dissertations

In the first essay we explore and establish a direct link between investor attention to advertising videos viewed on social media, and trading activity in a firm's securities. We find a positive relation between views of these advertising videos and volume, and a negative relationship between views and bid-ask spread. Returns are positively related to change in views. The positive price pressure is reversed over the following two weeks. The decreases in spread and temporary increase in returns are consistent with increased purchasing by individual investors who view the advertising videos. Our results support the hypothesis that the number of …

Market Reaction To Acquisition Announcements After The 2008 Stock Market Crash, Ozge Uygur, Gulser Meric, Ilhan Meric

Rohrer College of Business Departmental Research

Market reaction to mergers and acquisitions is a popular research topic in finance. It has been well documented in empirical literature that target companies earn significant abnormal market returns in corporate acquisitions. However, the effects of stock market crashes, and the effects of whether the acquirer is a domestic firm or a foreign firm, on target firm abnormal returns have not been studied sufficiently. In this paper, we make a contribution to the extant literature on these subjects by studying the abnormal market returns earned by U.S. target firms acquired by domestic and foreign firms after the 2008 stock market …

The Archway Investment Fund Semi Annual Report, Spring 2014, Bryant University, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Window To The Unbanked: The Potential Of Mobile Money As A Means Of Saving In Uganda, Allison Ryder

Independent Study Project (ISP) Collection

The meaning of poverty is more than just merely the shortage of money. It is the lack of access to the instruments and means through which the poor could improve their lives. Many people lack appropriate means to manage their finances, which limits their economic potential and renders them vulnerable to exogenous shocks. Increasing financial inclusion to those without access contributes to poverty reduction by providing people with means to manage their finances. This study was conducted through a month long internship at the Bank of Uganda following with a short trip to Gulu, northern Uganda. The objective of this …

Issue Brief: Asset Management For Stormwater, New England Environmental Finance Center, Sustainable Communities Learning Network

Sustainable Communities Capacity Building

Asset management is a strategic approach to maintaining and sustaining infrastructure in order to meet the needs of the community at the lowest overall life cycle cost. This approach helps communities know how and where to prioritize limited funds in order to achieve the greatest benefit. Often applied to drinking water and wastewater infrastructure, this method is well suited to managing any assets, including stormwater systems.

This issue brief is intended to introduce local governments to the asset management process and to show how it can be applied in managing stormwater assets. It was adapted from an appendix written by …