Assessing The Financial Literacy Of Domestic And International College Students,
2013
Johnson & Wales University - Providence
Assessing The Financial Literacy Of Domestic And International College Students, Jane Boyland, Rex Warren
MBA Student Scholarship
Improving student financial literacy has become a major goal of colleges and universities within the United States in recent years. Many schools are now instituting programs to increase student financial literacy in order to improve their students’ later quality of life and decrease student loan default rates. The purpose of this study is to assess the current financial literacy of undergraduate students at a southern New England university in order to provide insights on how such a program could be customized to the unique needs of its student body. The Jump$tart Survey was administered to 92 junior and senior students …
Financial Inclusion Initiatives And National Economic Development,
2013
Central Bank of Nigeria
Financial Inclusion Initiatives And National Economic Development, Paul N. Eluhaiwe
Bullion
The paper present a clear understanding of the term financial inclusion, its role in economic development, measures being adopted to forge financial inclusion by selected countries and the attempt being made by Nigerian to follow suit. Section two of this paper gives an overview of the concept financial inclusion, section three highlights the difference between financial inclusion and economic development. Section four presents country experiences on financial inclusion followed by highlights of the current state of financial inclusion in Nigeria.
Confidence Weighted Mean Reversion Strategy For Online Portfolio Selection,
2013
Nanyang Technological University
Confidence Weighted Mean Reversion Strategy For Online Portfolio Selection, Bin Li, Steven C. H. Hoi, Peilin Zhao, Vivekanand Gopalkrishnan
Research Collection School Of Computing and Information Systems
Online portfolio selection has been attracting increasing attention from the data mining and machine learning communities. All existing online portfolio selection strategies focus on the first order information of a portfolio vector, though the second order information may also be beneficial to a strategy. Moreover, empirical evidence shows that relative stock prices may follow the mean reversion property, which has not been fully exploited by existing strategies. This article proposes a novel online portfolio selection strategy named Confidence Weighted Mean Reversion (CWMR). Inspired by the mean reversion principle in finance and confidence weighted online learning technique in machine learning, CWMR …
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria,
2013
Delta State University, Asaba
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Bullion
In the past three decades, the Nigerian banking industry has suffered from a host of vices namely miss-management, financial misappropriation, administrative recklessness, etcetera, reflecting incompetence on all levels of management and those have had dire consequences in the economy. In an attempt to re-position the industry on the path of performance, different governments in the past took various corrective steps to no avail. Thus this study seeks to explore the Core Resources of Corporate Strategy and Performance-oriented Bank Management best practice with a view to creating sustainable best practices in bank management in Nigeria. The findings from the study are …
Palliative Care And The Health Care Crisis In The United States: A Candid Conversation With Dr. Diane Meier,
2013
Brookdale Department of Geriatrics and Palliative Medicine
Palliative Care And The Health Care Crisis In The United States: A Candid Conversation With Dr. Diane Meier, Diane E. Meier
Center for Policy Research
This paper is a synthesis of the 2012 Lourie Lecture, framed as a series of questions and responses, and supported by images used in the lecture. I’m going to focus on the growth of this new field called palliative care and will make the connection that the crisis afflicting healthcare in the United States cannot be addressed without widespread scaling and implementation of palliative care across the system. My subject is not end-of-life care, but rather care during serious illness. A serious illness is something a person can live with for many years, such as emphysema, or end-stage renal disease …
Corporate Boards’ Political Ideology Diversity And Firm Performance,
2013
The University of Texas Rio Grande Valley
Corporate Boards’ Political Ideology Diversity And Firm Performance, Incheol Kim, Christos Pantzalis, Jung Chul Park
Finance Faculty Publications
We investigate whether diversity in points of view within corporate boards, as captured by the diversity in political ideology of board members, can affect a firm's performance. We employ personal political contributions' data to measure political ideology distance among groups of inside, outside directors and the CEO. Our empirical evidence strongly supports the notion that outside directors' monitoring effectiveness is more likely to be enhanced when their viewpoints are distinct from those of management. We find that ideologically diverse boards are associated with better firm performance, lower agency costs and less insiders' discretionary power over the firm's Political Action Committee …
In Defense Of The Traditional Ira,
2013
Loyola Marymount University
In Defense Of The Traditional Ira, Charles J. Higgins
Finance Faculty Works
No abstract provided.
Investor Protection And Cash Holdings: Evidence From U.S. Cross-Listing,
2013
University of Memphis
Investor Protection And Cash Holdings: Evidence From U.S. Cross-Listing, Ying Huang, Susan Elkinawy, Pankaj K. Jain
Finance Faculty Works
This paper examines (i) whether the level of firms’ cash holdings differ depending on the strength of investor protection, (ii) whether excess cash holdings are valued more with better investor protection, and (iii) whether cross-listed firms that improve investor protection through “bonding” hold relatively more cash than non-cross-listed firms. We analyze 1405 ADR firms and their corresponding matched firms from 39 different countries and document that ADR firms have significantly higher cash holdings relative to their non-cross-listed peers, especially in recent years. The increase in cash holdings is much higher for emerging market firms because of their transition from particularly …
The Discretionary Effect Of Ceos And Board Chairs On Corporate Governance Structures,
2013
Marquette University
The Discretionary Effect Of Ceos And Board Chairs On Corporate Governance Structures, Matteo P. Arena, Marcus V. Braga-Alves
Finance Faculty Research and Publications
In this study we analyze the effect of latent managerial characteristics on corporate governance. We find that CEO and board chair fixed effects explain a significant portion of the variation in board size, board independence, and CEO-chair duality even after controlling for several firm characteristics and firm fixed effects. The effect of CEOs on corporate governance practices is attributable mainly to executives who simultaneously hold the position of CEO and board chair in the same firm. Our results do not show a decline in CEO discretionary influence on corporate governance after the enactment of the Sarbanes–Oxley Act and stock exchange …
Death Cross For Gold,
2013
Butler University
Death Cross For Gold, Steven D. Dolvin
All Chapters
For technical traders, a death cross is definitely a sell sign. A death cross occurs when a shorter term moving average (such as the 50 day) crosses a longer term moving average (such as the 200 day) to the downside. Gold recently experienced such an event. However, fundamental traders are often at odds with this belief. (See article here, Yahoo Finance.)
Which Students Trade The Most? – Five Years Of Evidence From Simulations In An Introductory Investments Course,
2013
College of Saint Benedict/Saint John's University
Which Students Trade The Most? – Five Years Of Evidence From Simulations In An Introductory Investments Course, Steven Welch
Accounting and Finance Faculty Publications
In investment literature, overconfidence among male investors has been shown bytheir relatively high trading frequency in spite of the evidence that more trading reduces returns by way of transactions costs. In this study, given the assumption that modern, college-educated students taking an investments class should be better educated than the average investor, we posit that female and male students should not have a significant difference between them in (over)confidence, and therefore, trading frequency. We also introduce a new concept of whether domestic or international students trade more frequently, and posit some possible explanations for the results.
Corporate Governance, Institutional Ownership, And The Decision To Pay The Amount Of Dividends: Evidence From Usa,
2013
Liberty University
Corporate Governance, Institutional Ownership, And The Decision To Pay The Amount Of Dividends: Evidence From Usa, John Obradovich, Amarjit Gill
Faculty Publications and Presentations
The decision to pay dividends is influenced by many financial factors. The purpose of this study is to find the relationships between corporate governance, institutional ownership, and the decision to pay dividends in American service firms. A sample of 296 American firms listed on New York Stock Exchange (NYSE) for a period of 3 years (from 2009-2011) was selected. This study applied a co-relational and non-experimental research design. The findings of this study indicate that the decision to pay dividends is a positive function of board size, CEO duality, and internationalization of the firm, and a negative function of institutional …
The Impact Of Corporate Governance And Financial Leverage On The Value Of American Firms,
2013
Liberty University
The Impact Of Corporate Governance And Financial Leverage On The Value Of American Firms, John Obradovich, Amarjit Gill
Faculty Publications and Presentations
This study examines the impact of corporate governance and financial leverage on the value of American firms. This study also seeks to extend the findings of Gill and Mathur (2011a). A sample of 333 firms listed on New York Stock Exchange (NYSE) for a period of 3 years from 2009-2011 was selected. The co-relational and non-experimental research design was used to conduct this study. Overall, findings show that larger board size negatively impacts the value of American firms, and CEO duality, audit committee, financial leverage, firm size, return on assets, and insider holdings positively impact the value of American firms. …
If You Don't Want To Be An Engineer....,
2013
Butler University
If You Don't Want To Be An Engineer...., Steven D. Dolvin
All Chapters
Recent surveys suggest that engineers (chemical, mechanical, etc.) are the highest earning undergraduate majors -- most in the $60-65K range. Finance is the next highest, at $57,600. So, it seems you have made a good investment by selecting finance as your major. (See article here, Fox Business / Business News Daily.)
Inward Fdi In The United States And Its Policy Context,
2013
Embry-Riddle Aeronautical University
Inward Fdi In The United States And Its Policy Context, Lucyna G. Kornecki Ph.D.
Accounting, Economics, Finance, and Information Sciences - Daytona Beach
Inward foreign direct investment (IFDI) represents an integral part of the United States (U.S.)economy, with its stock growing from US$ 83 billion in 1980 to US$ 3.5 trillion in 2011. The United States, which had earlier been primarily a home for multinational enterprises (MNEs) rather than a host for affiliates of foreign MNEs, has become a preferred host country for FDI since the 1980s. Foreign MNEs have contributed robust flows of FDI into diverse industries of the U.S. economy, and total FDI inflows reached US$ 227 billion in 2011, equivalent to 15% of global inflows, the single largest share of …
Commercial Property Rent Dynamics In U.S. Metropolitan Areas: An Examination Of Office, Industrial, Flex And Retail Space,
2013
University of Chicago
Commercial Property Rent Dynamics In U.S. Metropolitan Areas: An Examination Of Office, Industrial, Flex And Retail Space, Maria R. Ibanez, Anthony Pennington-Cross
Finance Faculty Research and Publications
This paper is concerned with the market rental rate for space offered by commercial property and how that rental rate evolves over time. Rental rates reflect the value of the services provided by the property and can have a significant impact on the ability of its owners to make monthly debt obligations. We investigate commercial property rent dynamics for 34 large metropolitan areas in the U.S. The dynamics are studied from the second quarter of 1990 through the second quarter of 2009 and the results are compared across four property types or uses (office, industrial, flex, and retail). There is …
Director Ownership, Governance, And Performance,
2013
University of Colorado at Boulder
Director Ownership, Governance, And Performance, Sanjai Bhagat, Brian Bolton
Business Faculty Publications and Presentations
We study the impact of the Sarbanes-Oxley Act on the relationship between corporate governance and company performance. We consider 5 measures of corporate governance during the period 1998–2007. We find a significant negative relationship between board independence and operating performance during the pre-2002 period, but a positive and significant relationship during the post-2002 period. Our most important contribution is a proposal of a governance measure, namely, dollar ownership of the board members, that is simple, intuitive, less prone to measurement error, and not subject to the problem of weighting a multitude of governance provisions in constructing a governance index.
A New Look At The Corporate Social-Financial Performance Relationship: The Moderating Roles Of Temporal And Inter-Domain Consistency In Corporate Social Performance,
2013
Singapore Management University
A New Look At The Corporate Social-Financial Performance Relationship: The Moderating Roles Of Temporal And Inter-Domain Consistency In Corporate Social Performance, Heli Wang, Jaepil Choi
Research Collection Lee Kong Chian School Of Business
The authors develop the argument that the establishment of good stakeholder relations is influenced not only by a firm’s having a high level of corporate social performance but also by its ability to deliver consistent social performance. Therefore, both level and consistency in corporate social performance should have significant financial implications. More specifically, the authors suggest that level and two types of consistency in corporate social performance—temporal consistency and interdomain consistency—interact positively to influence a firm’s financial performance. Using a sample of 622 firms and 2,365 firm-year observations based on the Kinder, Lydenberg, Domini, & Co. data, the authors found …
Bond Portfolio Duration,
2013
Butler University
Bond Portfolio Duration, Steven D. Dolvin
All Chapters
Duration is a measure of the effective maturity of a bond or bond portfolio. A higher duration is indicative of higher price risk, particularly in response to changing rates. Thus, if interest rates rise and bond prices fall, a bond with a higher duration will experience a sharper drop in price. Given the relatively low level of interest rates in the current market, bond investors have moved to lower duration portfolios, as protection against expected increases in rates. (See article here, Wall Street Journal.)
Increased Leverage = Less Risk?,
2013
Butler University
Increased Leverage = Less Risk?, Steven D. Dolvin
All Chapters
All else equal, the use of leverage increases investment risk. But, can it ever have the opposite effect? Investors using the so-called risk parity trade believe the answer is yes. Under this approach, a portfolio is built using equity and debt, but the debt is purchased using leverage. The strategy is based on two key points: (1) equity is more volatile than debt and (2) debt returns are negatively correlated to equity returns. Thus, with leverage, the debt returns are in effect more volatile. When combined, the negative correlation creates a less risky portfolio as the equity and debt returns …
