Finance and Financial Management Commons^™

Cash Flow Management For Sda Organizations, Annetta M. Gibson

Faculty Publications

A presentation on managing cash flow in SDA organizations. Given to the East Central Africa Division on March, 2011.

Red Lion Hotel Corporation, Yin-Chia Shao

MBA Student Scholarship

This paper is a strategy executing research project of Red Lion Hotels Corporation. The research content includes the nature of the business, environmental analysis, strategy position within the industry, competitive advantage, strategic history, evaluate strategy and a conclusion. The company grew from a focused differentiation strategy to a broad differentiation diversification. Examining the business environment analysis, the external environment has a moderately strong impact on the company and the internal environment has a moderately weak position. The inferior position is a disadvantage to the Red Lion Hotel Corporation's growth. In addition, compared the company with Choice International Hotels, Inc and …

Spring Clean Your Financial House, Ann House

All Current Publications

This publication suggests 5 simple steps to reviewing and improving your financial status.

Explosive Behavior In The 1990s Nasdaq: When Did Exuberance Escalate Asset Values?, Peter C. B. Phillips, Yangru Wu, Jun Yu

Research Collection School Of Economics

A recursive test procedure is suggested that provides a mechanism for testing explosive behavior, date stamping the origination and collapse of economic exuberance, and providing valid confidence intervals for explosive growth rates. The method involves the recursive implementation of a right-side unit root test and a sup test, both of which are easy to use in practical applications, and some new limit theory for mildly explosive processes. The test procedure is shown to have discriminatory power in detecting periodically collapsing bubbles, thereby overcoming a weakness in earlier applications of unit root tests for economic bubbles. An empirical application to the …

Out-Of-Sample Industry Return Predictability: Evidence From A Large Number Of Predictors, David E. Rapach, Jack K. Strauss, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

We uncover extensive evidence of out-of-sample return predictability for industry portfolios based on a principal component approach that incorporates information from a large number of predictors. Moreover, we find substantial differences in the degree of return predictability across industries. To understand these differences, we propose a decomposition of out-of-sample industry return predictability into beta and alpha shares, where the former corresponds to a conditional beta pricing model. A conditional version of the popular Fama-French three-factor model accounts for nearly all out-of-sample industry return predictability, with exposures to time-varying market and size risk premiums especially important for explaining differences in return …

The Road To Retirement: Bumpy Or Smooth, Depends On Your Route, Anand Iyer, Madhusudan Subramanian, Vikash Punglia

WCBT Faculty Publications

Defined Contribution (DC) plans are rapidly becoming the primary retirement investment vehicle for a majority of employees across the US and other markets around the globe. Asset allocation for DC plans has to strike a balance between growth and protection assets over the savings lifecycle while protecting the long-term purchasing power of the nest egg. Due to the long duration of retirement investing and various risks associated with it, implementing the right asset allocation has become critical and challenging for DC plans. The unique Risk Focused methodology presented in this paper aims to address the shortcomings of conventional Target Date …

2011 Private Capital Markets Report, John K. Paglia

Pepperdine Private Capital Markets Report

The Pepperdine private cost of capital survey was originally launched in 2007 and is the first comprehensive and simultaneous investigation of the major private capital market segments. This year’s survey specifically examined the behavior of senior lenders, asset‐based lenders, mezzanine funds, private equity groups, venture capital firms, angel investors, privately‐held businesses, investment bankers, business brokers, limited partners, and business appraisers. The Pepperdine survey investigated, for each private capital market segment, the important benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today’s economic …

A Peer-Based Financial Planning And Education Service Program: An Innovative Pedagogic Approach, Joseph W. Goetz, Dorothy B. Durband, Ryan Halley, Kimberlee Davis

Faculty Publications - College of Business

This paper presents a peer-based financial planning and education program as a strategy to address the lack of financial literacy among college students and provide an experiential/earning opportunity for students majoring in financial planning or other financial services-related disciplines. Benefits of such programs to campus communities are addressed by illustrating the current trends regarding student debt and financial literacy. The paper provides a specific description of a successful peer-to-peer financial planning and education program and encourages its replication at other colleges and universities. Through the review of this program, other schools may emulate effective strategies to assist in the implementation …

A Survey Of Clergy Practices Associated With Premarital Financial Counseling, Ryan E. Halley, Dorothy B. Durband, William C. Bailey, A. William Gustafson

Faculty Publications - College of Business

The purpose of this exploratory study was to gain an understanding of the state of clergy-led premarital financial counseling. Clergy respondents (n =223) indicated that they often include a financial component in their formal premarital counseling. The most frequently discussed financial topics are budgeting, managing debt and credit, and saving. The most frequently cited obstacles to providing premarital financial counseling are lack of time and lack of subject matter expertise.

2010-2011 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2010-2011 Financial Summary of Morehead State University.

Mergers And Beliefs, Todd A. Brown, Thomas Zorn, Geoff Freissen

Faculty Publications

We study the combined effects of managerial optimism and market overvaluation on merger premiums and the chosen form of payment. Our empirical results are consistent with market overvaluation and the target manager‘s optimism as having the most influence on mergers. The observed form of payment corresponds to the acquiring manager‘s preferences, suggesting that the acquiring manager dictates the method of payment. Lastly, our model demonstrates why cash mergers are more likely to be hostile, and provides an explanation for why a combination of cash plus stock may be optimal.

Basic Concepts In Forest Valuation And Investment Analysis, Steven H. Bullard, Thomas J. Straka

eBooks

This book was originally intended to supplement lectures in forestry economics at the undergraduate level. It’s currently used for that purpose in ‘Forest Resource Economics’ courses at several universities. The book is also intended, however, to serve as a basic reference for foresters with experience in valuation and investment analysis concepts and methods. It has proven to be a valuable resource in forest valuation and investment analysis workshops for practicing foresters, landowners, and others interested in forestry investments.

Ideal for use in undergraduate and graduate forestry education programs, as well as in forest valuation workshops.

Restoring Transparency To Automated Authority, Frank Pasquale

Faculty Scholarship

Leading finance, health care, and internet firms shroud key operations in secrecy. Our markets, research, and life online are increasingly mediated by institutions that suffer serious transparency deficits. When a private entity grows important enough, it should be subject to transparency requirements that reflect its centrality. The increasing intertwining of governmental, business, and academic entities should provide some leverage for public-spirited appropriators and policymakers to insist on more general openness.

However well an "invisible hand" coordinates economic activity generally, markets depend on reliable information about the practices of core firms that finance, rank, and rate entities in the rest of …

A Financial Impact Assessment Of Ld 1725: Stream Crossings Presentation, New England Environmental Finance Center

Economics and Finance

This report looks at the potential financial impact of LD 1725 on the estimated 30,000 stream crossings in the State of Maine that would be affected by the law. Our research for this report included the analysis of nearly 2000 stream crossings and the data collection necessary for the development of extensive stream crossing replacement cost models. We found that the 1.2 bankfull requirements in LD 1725 would result in a 75% ‐ 250% increase in structure widths for stream crossing projects across the state. An upsize of this magnitude would increase the cost of replacing stream crossings statewide by …

International Comparisons Of Bank Regulation, Liberalization, And Banking Crises, Puspa Amri, Apanard P. Angkinand, Clas Wihlborg

Business Faculty Articles and Research

Purpose: The recurrence of banking crises throughout the 1980s and 1990s, and in the more recent 2008-09 global financial crisis, has led to an expanding empirical literature on crisis explanation and prediction. This paper provides an analytical review of proxies for and important determinants of banking crises − credit growth, financial liberalization, bank regulation and supervision.

Design/Methodology/Approach: The study surveys the banking crisis literature by comparing proxies for and measures of banking crises and policy-related variables in the literature. Advantages and disadvantages of different proxies are discussed.

Findings: Disagreements about determinants of banking crises are in part …

Indiana State University Financial Report 2011, Indiana State University

Financial Reports

No abstract provided.

Carnivorous Lions And Herbivorous Asians: How The Recession Has Made A Case For Leadership In Asia, Knowledge@Smu

Knowledge@SMU

It may seem as if the worse is over. Those oversights and indiscretions which led to the global financial crisis have been exposed and dealt with – or have they? According to Andrew Sheng, renowned economist and distinguished speaker at SMU's Ngee Ann Kongsi Annual Lecture Series, the severity of the crisis is far more extensive than most people believe. Compounding the problem are systemic complexities brought on by "shadow banking", "moral hazards", and the carnivorous lions of Wall Street.

Gold, Gas And Grains: Smartest Investment For The Coming Decade?, Knowledge@Smu

Knowledge@SMU

The disappointing performance of investments like stocks, bonds and real estate during the recent crisis, has only served to accentuate the attractiveness of investing in commodities. With finite supply and voracious demand from countries like China, it seems that the prices of oil, gold, iron and other natural resources could only rise. John Stephenson, of First Asset Investment Management Inc, tells us more in The Little Book of Commodity Investing, why investing in commodities is timely and smart.

The Implied Volatility Of Etf And Index Options., Stoyu Ivanov, Jeff Whitworth, Yi Zhang

Faculty Publications

We examine the option-implied volatility of the three most liquid ETFs (Diamonds, Spiders, and Cubes) and their respective tracking indices (Dow 30, S&P 500, and NASDAQ 100). We find that volatility smiles for ETF options are more pronounced than for index options, primarily because deep-in-the money ETF options have considerably higher implied volatility than deep-in-the-money index options. The observed difference in implied volatility is not due to a difference between the realized return distributions of the underlying ETFs and indices. Differences in implied volatility for ETF and index options also do not appear to be explained by discrepancies in net …

Cross-Sectional Analysis Of Index And Commodity Markets Price Discovery., Stoyu Ivanov

Faculty Publications

This study examines the determinants of relative price discovery between the futures and cash prices in 30 index and commodity markets based on the Gonzalo and Granger (1995) permanent-transitory decomposition methodology. Twenty-eight indexes and commodities have proportional futures market information shares greater than 60%. Two commodities are the only exception: Feeders Cattle and Wheat-Minneapolis have price discovery occurring predominantly in the cash markets with information shares of their futures contracts of 33% and 40%, respectively. The research documents a significant cross-sectional variability of the information shares across the 30 indexes and commodities and finds that the information shares of the …