Finance and Financial Management Commons^™

The Use Of Financial Statements To Predict The Stock Market Effects Of Systemic Crises, Mohammad Yahia Almakrami

CGU Theses & Dissertations

The financial crisis of 2007-2009 had divesting effects around the globe. Many financial institutions and government officials failed to see the build up of problems predicting the crisis and hence failed to take actions to keep the crisis from breaking out. Thus, it is important to see if the emerging problems could have been identified in advance in order to develop types of analysis that could help us avoid future crises. A full investigation of such possibilities will require many different studies taking different approaches. This dissertation contributes to that collective effort by investigating the extent to which balance sheet …

Determinants Of Financial Distress Evidence From Kse 100 Index, Malik Rizwan Khurshid

Business Review

Financial distress and its determinants are very important for investors as well as financial institutions; no one can deny its significance. This paper assesses the determinants of financial distress of non financial companies of Karachi Stock exchange from 2003 to 2010. Financial distress in companies was calculated from Z score model. Determinants like current ratio, profitability, efficiency, solvency and leverage were identified. Result shows current ratio, profitability, solvency and leverage are negatively correlated while efficiency is positively correlated.

Interest Rate Sensitivity And Stock Returns, Mohsin R. Khan, Zahid Mahmood

Business Review

This paper investigates the sensitivity of interest rate to stock return of financial institutions traded at Karachi Stock Exchange. Two Index Model of Stone and Bernell(1974) have been used to test the proposition of the present study. Three different portfolios of financial institutions have been examined against sensitivity of actual and unanticipated interest rates. Repo rate/Policy rate instead of t-bill rate is used for the proxy of interest rate. The data is collected from twenty nine financial institutions covering the time period from 2004 to 2011. Unit root test, co integration and error correction mechanism have been checked before proceeding …

An Evidence Of Profitability In Stocks Through The Test Of Logic, Muhammad Ikhlas Khan, Agha Ali Hassan

Business Review

In this world, people do one of two things with dollar, when they earn it. They either save it or consume it. Involuntarily, some of the money people consume is because they must pay tax or spending the dollar on something like food, clothing, or a car. For consumption at a later time, a person saves the dollar by putting it aside.

Walking Back From Cyprus, Lee C. Buchheit, Mitu Gulati

Faculty Scholarship

Last Friday, the European leaders trespassed on consecrated ground by putting insured depositors in Cypriot banks in harm’s way. They had other options, none of them pleasant but some less ominous than the one they settled on.

Farm Financial Performance Of Kentucky Farms, Tarrah M. Dunaway

Theses and Dissertations--Agricultural Economics

This study examines farm financial performance of Kentucky farms using Kentucky Farm Business Management data from 1998-2010. Logit models are used to estimate the likelihood of farm characteristics affecting whether financial ratios fall into critical zones or not. The results show that large farms in terms of total gross returns and total assets are less likely to experience repayment capacity problems. Total gross returns significantly affect all five financial measures. These findings will help farmers and lenders understand what factors influence farm financial performance. Profitability migration is tested to see if the migration probabilities differ across business cycles. Migration drift …

Teaching Business Law In The New Economy; Strategies For Success, Kamille Wolff Dean

Journal of Business & Technology Law

No abstract provided.

Investor Overconfidence And Option Trading, Han-Sheng Chen

Finance and Real Estate Dissertations - Archive

This study examines investor overconfidence theory in the options market. The theory suggests that investors who experience high returns become overconfident in their security valuation and trading skills, and therefore trade more often, even when the high returns are market wide. Given stock investors often trade in both stock and options market, I hypothesize similar patterns could be found in the options market as well. Controlling for market volatility and stock idiosyncratic risk, past market return is positively correlated with option trading turnover. In addition, past positive market return leads to higher call option turnover ratio and higher call-to-put ratio. …

Finance Newsletter, N01, Winter 2013, University Of Northern Iowa. Department Of Finance.

Department of Finance Newsletter

News about the activities of the Department of Finance

The Use Of Financial Data To Monitor Competing Models Of Firm Growth, Mohamed Rashwan, Tarek Ibrahim Eldomiaty

Business Administration

This paper examines three possible explanations for firm growth:

1 a firm grows according to the growth of sales revenues

2 a firm grows according to cost savings

3 a firms grows according to the two factors simultaneously

This paper introduces a new measure for firm growth based on sales-weighted growth of fixed assets. The estimation method uses the properties of the discriminant analysis to build three Z-score models, each of which discriminates low-growth firms from high-growth firms based on:

a sales ratios

b cost ratios

c sales and cost ratios together

The results show that the three discriminant models …

The Stock Market’S Reaction To Accounting Information: The Case Of The Latin American Integrated Market Abstract, Mauricio A. Melgarejo, Eduardo Montiel, Luis Sanz

Scholarship and Professional Work - Business

The purpose of this paper is to explore the stock market’s reaction to quarterly financial statements. We focus our study in two countries that are participating in the Latin American Integrated Market (MILA): Peru and Chile. We find that the cumulative abnormal returns and the absolute value of the cumulative abnormal trading are explained principally by the quarterly earnings surprises around the financial statements release date. We find that these effects are more pronounced in small firms, confirming that due to the lower level of pre disclosure information accounting numbers are the main source of information. Key words: Accounting Information, …

Investor Sentiment In The Stock Market, Bayram Veli Salur

Open Access Theses

Classical finance theories neglect the impact of investor sentiment on stock returns. These theories assume that investors are rational and make decisions in a way that maximizes their wealth. However, a vast amount of research shows that investors' decisions are affected by their psychological biases and feelings. These findings suggest that investor sentiment may have an impact on stock returns. This hypothesis is the main motivation of this study. First, this study examines whether there is correlation among investor sentiment indicators, and whether sentiment indicators have an impact on stock returns in the US and other countries. Second, this study …

Implications Of Off-Farm Income For Farm Income Stabilization Policies, Simon Jette-Nantel

Theses and Dissertations--Agricultural Economics

This dissertation examines to what extent off-farm diversification may be an appropriate and accessible tool to mitigate the adverse effects from market failures and incompleteness in the crop and farm income insurance market. While the influence of the nonfarm sector has long been recognized as a primary force in shaping farm structure, off-farm income is rarely acknowledge as a risk management tool for operators and households of commercial farms. The dissertation develops a dynamic model that includes capital market imperfections, economies of scale in farm production, and the presence of adjustment costs in labor allocation decisions. The model provides a …

Essays On Elderly Asset Management The Role Of Medical Expenses And Housing, Li Li

Legacy Theses & Dissertations (2009 - 2024)

With baby-boomers approaching their retirement age, the financial security of elderly Americans has become increasingly crucial for both policy-makers and retirees themselves. Based on the data from the Health and Retirement Survey (HRS), this dissertation examines how healthcare costs and housing affect retirees' saving and investment decisions.

The Impact Of Ceo Duality On Firm Financial And Market Performance During The Period Of 2008 Through 2010 : A Period Of Financial Crisis, Samuel Eugene Ferrara

Legacy Theses & Dissertations (2009 - 2024)

ABSTRACT

Three Essays On Asset Allocation And Asset Pricing, Chen Cao

Legacy Theses & Dissertations (2009 - 2024)

This dissertation investigates several classical yet unsettled issues in asset allocation and asset pricing.

Consumers’ Misunderstanding Of Health Insurance, George Loewenstein, Joelle Y. Friedman, Barbara Mcgill, Sarah Ahmad, Suzanne Linck, Stacey Sinkula, John Beshears, James J. Choi, Jonathan Kolstad, David Laibson, Brigitte C. Madrian, John A. List, Kevin G. Volpp

Faculty Publications

We report results from two surveys of representative samples of Americans with private health insur-ance. The first examines how well Americans understand, and believe they understand, traditional healthinsurance coverage. The second examines whether those insured under a simplified all-copay insuranceplan will be more likely to engage in cost-reducing behaviors relative to those insured under a traditionalplan with deductibles and coinsurance, and measures consumer preferences between the two plans. Thesurveys provide strong evidence that consumers do not understand traditional plans and would betterunderstand a simplified plan, but weaker evidence that a simplified plan would have strong appeal toconsumers or change their …

Teaching Amidst Transformation: Integrating Global Perspectives On The Financial Crisis Into The Classroom, Shruti Rana

Journal of Business & Technology Law

No abstract provided.

Startsmart Impact Report, Commonwealth Bank Foundation

Program monitoring and evaluation

The Commonwealth Bank Foundation’s school-based, financial education program, StartSmart, was developed with the assistance of education experts and launched in 2007. The StartSmart program – is a series of interactive, financial literacy workshops delivered in classrooms by a team of facilitators which works in partnership with school teachers to deliver effective financial education. The program extends to students in primary, secondary and vocational education settings. The Commonwealth Bank Foundation engaged the Australian Council for Educational Research (ACER) to undertake an evaluation of the StartSmart program. The purpose of this research was to measure the impact of StartSmart on students’ financial …

Further Evidence On The Ability Of Fifo And Lifo Earnings To Predict Operating Cash Flows: An Industry Specific Analysis, Brock Murdoch, Bruce Dehning, Paul Krause

Accounting Faculty Articles and Research

The continuing convergence of U.S. GAAP with International Accounting Standards has brought into question the future use of the LIFO inventory method in the U.S. Since the Financial Accounting Standards Board (2010) has stipulated that earnings should aid investors and creditors in their quest to forecast future cash flows to the enterprise, this research examines whether FIFO earnings or LIFO earnings is preferable, for this purpose, as an aid to ex ante operating cash flow itself,over a three-year forecast horizon. We conclude that ex ante operating cash flows are quite useful in forecasting operating cash flows across industries for up …