Something Old Is New Again: Airline-Airport Consortia And Key Stakeholder Benefits,
2014
Embry-Riddle Aeronautical University
Something Old Is New Again: Airline-Airport Consortia And Key Stakeholder Benefits, Janet K. Tinoco, Brian W. Sherman
Management, Marketing and Operations - Daytona Beach
Although consortia in the aviation sector predate deregulation by decades, this type of cooperative agreement, particularly in the airline industry, is experiencing a resurgence of interest from industry participants and academia. Airlines are searching for new innovative ways to reduce costs while airports are searching for private partners to improve terminal facilities and equipment and update services. Passengers, on the other hand, continue to balance price versus performance in their travel experience. This empirical research study finds evidence of positive influences of airline consortia to all key stakeholders; however the majority of benefit appears to be felt by the airlines …
Retail Islamic Financial Services In North America: The (Upper) Michigan Connection,
2014
Northern Michigan University
Retail Islamic Financial Services In North America: The (Upper) Michigan Connection, Brian A. Zinser
Journal Articles
The purpose of this paper is to explore how a small remote Midwestern bank reformulated itself into a major marketer of retail Islamic financial services in the United States and influenced Islamic financial services marketing in North America. The paper is based on a review of existing literature and a case study of how University Bank, now based in Ann Arbor, Michigan, has become the leading providerof Islamic financial services in the United States. University Bank whose principals are Roman Catholic identified the Muslim market in Southeast Michigan as measurable, differentiable, accessible and substantial. As part of the Bank’s reformulation …
Financial Forest,
2014
University of Central Florida
Financial Forest, Karen Carlson
Electronic Theses and Dissertations
Regular savings behavior is critical for low-income Americans to achieve financial mobility. New technology tools are being used to improve personal awareness and attention to financial goals. This thesis reviews mobile learning (mLearning) research and leading commercial personal finance smartphone apps, both of which inform the design of Financial Forest, a savings app. Participants in the 4-week Financial Forest savings study are found to have a statistically significant improved perception of the difficulty of building an emergency fund.
Corporate Social Responsibility In The Nigerian Banking Sector,
2014
Walden University
Corporate Social Responsibility In The Nigerian Banking Sector, Cecily Joy Adeleke
Walden Dissertations and Doctoral Studies
Corporate social responsibility is presently defined by the World Business Council of Sustainable Development as persistent commitment by businesses to behave ethically and contribute to economic development while also increasing the quality of life of employees, their families, and the community. Guided by Freeman's stakeholder theory, this study examined the relationship between corporate social responsibility and the Nigerian bankers' reported satisfaction with the Nigerian banking sector. Survey data were collected from a convenience sample of 99 Nigerian bankers, including branch managers, zonal managers, tellers, marketers, and investors. A single-stage sampling procedure was used to elicit their satisfaction with the Nigerian …
The Effect Of Macroeconomic Variables On Stock Market Returns In Ghana (2000-2013),
2014
Walden University
The Effect Of Macroeconomic Variables On Stock Market Returns In Ghana (2000-2013), Charles Barnor
Walden Dissertations and Doctoral Studies
Variations in macroeconomic indicators affect the performance of the stock markets. In Ghana, although the performance of the Ghana Stock Exchange (GSE) has been affected by macroeconomic variables from January 2000 to December 2013, the mechanisms of these relationships have not been studied. The purpose of this research was to examine the relationships between selected macroeconomic variables and their effect on the stock market returns on the Ghana stock market. The research questions addressed whether macroeconomic variables had significant effect on stock market returns in Ghana within the specified period. The target sample was all 36 listed firms on the …
Modelling Risk Management In Banks: Examining Why Banks Fail?,
2014
Walden University
Modelling Risk Management In Banks: Examining Why Banks Fail?, Daniel Onyebuchi Okehi
Walden Dissertations and Doctoral Studies
The persistent bank failures in the Nigerian financial system have been a major concern of the government, depositors, shareholders, and the general public because of the important roles banks play in the economy. The aim of this research was to determine why there have been persistent bank failures in Nigeria and to investigate whether ineffective risk management in banks, coupled with poor corporate governance practices and nonadherence to regulations (independent variables), play a significant role in the banks' performance(dependent variable). The variables were operationalized by taking VaR as the proxy for risk management, having CRO as proxy for ERM , …
A Regression Model To Investigate The Performance Of Black-Scholes Using Macroeconomic Predictors,
2014
Embry-Riddle Aeronautical University
A Regression Model To Investigate The Performance Of Black-Scholes Using Macroeconomic Predictors, Timothy A. Smith, Ersoy Subasi, Aliraza M. Rattansi
Publications
As it is well known an option is defined as the right to buy sell a certain asset, thus, one can look at the purchase of an option as a bet on the financial instrument under consideration. Now while the evaluation of options is a completely different mathematical topic than the prediction of future stock prices, there is some relationship between the two. It is worthy to note that henceforth we will only consider options that have a given fixed expiration time T, i.e., we restrict the discussion to the so called European options. Now, for a simple illustration of …
An Empirical Examination Of Negative Economic Value Added Firms.,
2014
San Jose State University
An Empirical Examination Of Negative Economic Value Added Firms., Stoyu Ivanov, Kenneth Leong, Janis Zaima
Faculty Publications
Economic value-added or EVA is a common metric that quantifies the value of the firm. However, recent studies that examine portfolio investment strategies using EVA suggest that portfolios formed with negative EVA earn relatively higher returns compared to some positive EVA firms. This study investigates whether firms with current negative EVAs perform well in the future. A sample of firms with negative EVAs in 2003 is identified, then four portfolios are formed by ranking firms from the most negative to the least negative EVAs. The returns of the four portfolios are tracked from 2004 through 2009 and correlated to four …
Performance Analysis Of Banks Headquartered In Hollywood Versus Silicon Valley.,
2014
San Jose State University
Performance Analysis Of Banks Headquartered In Hollywood Versus Silicon Valley., Stoyu Ivanov
Faculty Publications
In this study we examine the performance of banks headquartered in Hollywood and banks headquartered in Silicon Valley in the period - first quarter 2008 until second quarter 2012, which includes the period of the Great Recession - December 2007 to June 2009. We find that during the financial crisis both Silicon Valley and Hollywood banks suffered but Silicon Valley banks much less than Hollywood banks. After the recession, banks in both regions improved performance again Silicon Valley banks recovering faster. We also find that the level of deposits, the leverage ratio and total loan chargeoffs consistently play a role …
The Contributors,
2014
De La Salle University, Manila, Philippines
The Contributors, Marites Tiongco
DLSU Business & Economics Review
No abstract provided.
Research Of The Sustainability Of U.S. Public Debt And The Influence For Chinese Economy And Finance,
2014
Eastern Michigan University
Research Of The Sustainability Of U.S. Public Debt And The Influence For Chinese Economy And Finance, Zikun Xu
Senior Honors Theses and Projects
In the summer of 2010, the U.S. debt ceiling dispute attracted the attention of the world, and financial markets were shocked when Standard & Poor's finally cut the United States AAA rating. But with the increase of the debt ceiling as well as the European sovereign debt crisis intensified, the U.S. national debt problem was temporarily covered up. It must be noted, however, that the U.S. national debt has ballooned to the highest level since World War II, the ratio of national debt to GDP has reached to nearly 100%, coupled with the long-term U.S. fiscal deficit and the continuing …
Bank Valuation In Malaysia: An Empirical Comparison Of Conventional And Interest-Free (Islamic) Banking Models,
2014
Nanyang Technological University
Bank Valuation In Malaysia: An Empirical Comparison Of Conventional And Interest-Free (Islamic) Banking Models, Charlie Charoenwong, Ramin Cooper Maysami, David K. Ding
Research Collection Lee Kong Chian School Of Business
Islamic banking, according to institute for Islamic Banking and Insurance "refers to a system of banking or banking activity that is consistent with the principles of the Shari'ah (Islamic rulings) and its practical application through the development of Islamic economics. Shari'ah prohibits the payment or acceptance of interest charges (riba) for the lending and accepting of money, as well as carrying out trade and other activities that provide goods or services considered contrary to its principles." The thrust of the current article is to examine the underlying factors and variables that guide the valuation of a sample of five Malaysian …
Sox, Corporate Transparency, And The Cost Of Debt,
2014
University of Miami
Sox, Corporate Transparency, And The Cost Of Debt, Sandro Andrade, Gennaro Bernile, Frederick Hood
Research Collection Lee Kong Chian School Of Business
We investigate the impact of the Sarbanes–Oxley (SOX) Act on the cost of debt through its effect on the reliability of financial reporting. Using Credit Default Swap (CDS) spreads and a structural CDS pricing model, we calibrate a firm-level corporate opacity parameter in the pre- and post-SOX periods. Our analysis shows that corporate opacity and the cost of debt decrease significantly after SOX. The median firm in our sample experiences an 18 bp reduction on its five-year CDS spread as a result of lower opacity following SOX, amounting to total annual savings of $ 844 million for the 252 firms …
Mean Variance Analysis Of Asian Hedge Funds,
2014
North East Normal University
Mean Variance Analysis Of Asian Hedge Funds, Zhidong Bai, Kok Fai Phoon, Yongchang Hui, Wing-Keung Wong
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Housing Regulation, Externalities And Residential Property Prices,
2014
University of Georgia
Housing Regulation, Externalities And Residential Property Prices, Henry J. Munneke, C. F. Sirmans, Barrett A. Slade, Geoffrey K. Turnbull
Faculty Publications
This article examines the effects of quantity restrictions on residential property prices in the presence of neighborhood externalities. A Brigham Young University policy limiting students’ location choices provides a natural experiment for studying the externality and quantity restriction effects on property values. A flexible hedonic model is used to control for nonstudent population spatial sorting by type. The estimates show significant positive quantity restriction and student agglomeration effects on student housing prices. There are also significant differences in the negative student externality across nonstudent neighborhoods, with the quantity restriction reinforcing (offsetting) the student price premium (discount) at the boundary.
Who Uses The Roth 401(K), And How Do They Use It?,
2014
Stanford University
Who Uses The Roth 401(K), And How Do They Use It?, John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian
Faculty Publications
Using administrative data from twelve companies that added a Roth 401(k) option between 2006 and 2010, we describe the characteristics of Roth contributions. Approximately one year after the Roth is introduced, 9% of 401(k) participants have positive Roth balances. Roth participation is more than twice as high among 401(k) participants who were hired after the Roth introduction than among 401(k) participants who were hired before the Roth introduction. In essence, once an employee joins a 401(k) she becomes passive/inattentive, thereby reducing the likelihood of reacting to the introduction of a new Roth option. Conditional on contributing to the Roth, 66% …
Informal Banking And Early International Entrepreneurs: The Case Of The Chettiars,
2014
Singapore Management University
Informal Banking And Early International Entrepreneurs: The Case Of The Chettiars, Jayarani Tan, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
As moneylenders during nineteenth century colonial period the Chettiars were functioned as informal bankers in Asia. They began as communal entrepreneurs in their clan but grew beyond their domestic borders. Despite their smallness and resources, they were able to internationalize. This paper reports a study into their internationalization examining the manner they were able to successfully venture abroad. We found that external factors like the British protectorate and internal factors like their unique socio-cultural institutions and norms and values served as enabling factors for their internationalization. These include a family culture of training the sons for the business, embracing business …
The Efects Of Cryptocurrency Wealth On Household Consumption And Investment,
2014
Brigham Young University - Provo
The Efects Of Cryptocurrency Wealth On Household Consumption And Investment, Darren Aiello, Scott R. Baker, Tetyana Balyuk, Marco Di Maggio, Mark J. Johnson, Jason Kotter
Faculty Publications
This paper uses transaction-level bank and credit card data to identify cryptocurrency investors and assess the impact of crypto wealth fuctuations on household consumption, as well as on investments in other assets. We fnd an $0.09 MPC from crypto gains, exceeding most previous estimates from unrealized equity gains. However, crypto investors are mostly also active equity investors, with many similar consumption patterns across gains from both asset classes. Households sell cryptocurrencies to increase discretionary and housing expenditures, with the latter causing local house price appreciation.
Baker Hughes: Greasing The Wheels In Kazakhstan (Fcpa Violations And Implementation Of A Corporate Ethics And Anti-Corruption Compliance Program,
2014
Cleveland State University
Baker Hughes: Greasing The Wheels In Kazakhstan (Fcpa Violations And Implementation Of A Corporate Ethics And Anti-Corruption Compliance Program, Mark Holtzblatt, Norbert Tschakert
Business Faculty Publications
This case discusses the Foreign Corrupt Practices Act (FCPA) violations of Texas-based Baker Hughes, in connection with its oil service operations in Kazakhstan. You will assume the position of a newly assigned audit committee member who is trying to understand Baker Hughes’ FCPA violations related to its Kazakhstan operations. Your investigation will involve the examination of the SEC court complaint, press releases, government and company publications and 10-K annual reports. Baker Hughes’ FCPA experiences illustrate the corruption risks and difficulties that multinational corporations encounter in conducting international business. The subsequent creation of a new Baker Hughes Code of Conduct, FCPA …
Online Portfolio Selection: A Survey,
2014
Nanyang Technological University
Online Portfolio Selection: A Survey, Bin Li, Steven C. H. Hoi
Research Collection School Of Computing and Information Systems
Online portfolio selection is a fundamental problem in computational finance, which has been extensively studied across several research communities, including finance, statistics, artificial intelligence, machine learning, and data mining. This article aims to provide a comprehensive survey and a structural understanding of online portfolio selection techniques published in the literature. From an online machine learning perspective, we first formulate online portfolio selection as a sequential decision problem, and then we survey a variety of state-of-the-art approaches, which are grouped into several major categories, including benchmarks, Follow-the-Winner approaches, Follow-the-Loser approaches, Pattern-Matching--based approaches, and Meta-Learning Algorithms. In addition to the problem formulation …
