Finance and Financial Management Commons^™

How To Implement Best Strategic Practices In Small And Medium-Sized Procurement Organizations During Difficult Economic Times, Peter O'Reilly

Publications

Presentation objectives:

• What are Small-sized and Medium-sized Sourcing Departments?
• What is a Strategic Best Practice and Why is it Important to a Sourcing Department?

Mass Business Report, College Of Management, University Of Massachusetts Boston

Financial Services Forum Publications

Welcome to the College of Management, UMass Boston, Financial Services Forum’s Spring 2010 report on the Massachusetts economy. The spotlight of this report is the Finance, Insurance and Real Estate (FIRE) sector in Massachusetts.

Interpreting Financial Results, Bridget Lyons, Rupendra Paliwal, Danny A. Pannese

WCBT Faculty Publications

The article discusses three accounting changes issued by the Financial Accounting Standards Board (FSAB). The Statement of Financial Accounting Standards (SFAS) No. 158 "Employers' Accounting for Defined Benefit Pension and Other Retirement Plans" and the SFAS No. 160 "Noncontrolling Interests in Consolidated Financial Statements" are mentioned. Financial Interpretation 48 "Accounting for Uncertainty in Income Taxes, an Interpretation of FSAB Statement No. 109" is mentioned.

The takeaway? Financial analysts, investors, and creditors need to carefully interpret ratios and measures, including debt to equity, liabilities to equity, and return on equity. Financial ratios used in loan covenants should be clearly designed and …

A Case Study On The Credit Guarantee Scheme., Mohd Rizal Zubair

Student Works (2010-2019)

A brief description of Bank Perusahaan Kecil dan Sederhana Malaysia Berhad (SME Bank) and Credit Guarantee Scheme (CGS) Bank Perusahaan Kecil dan Sederhana Malaysia Berhad or better known as SME Bank was established more than 30 years ago as Bank Industri dan Infrastruktur Malaysia Berhad. SME Bank is a Development Financial Institution and 100% owned by Ministry of Finance Incorporated and Ministry of Industrial and International Trade acts as the Supervising Ministry. As a Government Agency, SME Bank has its mandated role to provide financing as well as financial and business advisory services to Malaysian SMEs residing within predefined categories …

Three Essays On Cross-Listing, Liu Wang

Theses and Dissertations in Business Administration

This dissertation examines the role of cross-listing in shaping corporate earnings quality, stock price informativeness, and firm valuation, as well as its impact on a listing firm's home country information asymmetry and stock misvaluation.

The first essay addresses the information asymmetry between Chinese local A-share and foreign B-share markets and its impact on the B-share discount puzzle. In contrast with the widespread belief that domestic investors are better informed than foreign investors, this study indicates that foreign investors actually possess more value-relevant, firm-specific information in an emerging market such as China, where information transparency and investor protection are relatively weak. …

The Impact Of Inflation Targeting Regime On The Relationship Between Stock Returns And Inflation: International Evidence, Unro Lee

Eberhardt School of Business Faculty Articles

Twenty six industrialized and emerging countries have adopted inflation targeting monetary policy since 1990 to combat persistently high inflation rate. This policy accords either the government and/or the central bank the authority to assign an explicit numerical target for inflation rate and implement an appropriate monetary policy to achieve its goal. This study investigates whether the adoption of inflation targeting strategy has affected the relationship between stock returns and inflation rate. Specifically, this study tests a hypothesis that, in an economy where inflation targeting has been adopted as a new monetary policy strategy, real stock returns should be sensitive to …

Economic Thinking And Risk Attitudes: An Empirical Study, Peter Slepcevic-Zach, Ph.D., Thomas Koeppel

International Journal for Business Education

In the light of the current economic crisis, which had its roots in high risk dealings in the international financial markets, the question how economically minded students are and what propensity towards risk they have, are essential to improving their financial literacy. In a broad survey including economic and non-economic schools 649 students aged 14 and 18 were questioned. In this paper results are presented and implications for classroom teaching and curricular development are derived.

Ua37/29 Gary Ransdell - Federal Reserve Board - Federal Reserve's Role In Bank Supervision, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of testimony given by Ben Bernanke to the U.S. House of Representatives Committee on Financial Services.

Hedge Fund Contagion, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

Why do correlations all go to one when economic conditions turn bad? We review the latest research on funding liquidity (the ease with which hedge funds obtain capital) and discuss its implications on the asset liquidity and valuations of securities held by funds, on subsequent fund performance, and on contagion across hedge fund investment styles.

Out Of The Black Hole: Regulatory Reform Of The Over-The-Counter Derivatives Market, Michael Greenberger

Faculty Scholarship

Unregulated OTC derivatives have been at the heart of recent systemic or near systemic collapses. After each financial crisis, governments worldwide proclaim that the OTC market has to be regulated for transparency, capital adequacy, regulation of intermediaries, self regulation, and strong enforcement of fraud and manipulation. But, aided by the passage of time, Wall Street always deflates those aspirations with aggressive lobbying. The present financial reform regulatory effort may be the only chance to get this issue right before the country devolves into a further financial quagmire with more bankruptcies and more job losses. This paper is a chapter of …

Rewriting The World Order: China's Footprint On The Credit Crisis And International Affairs, Knowledge@Smu

Knowledge@SMU

Tired of reading conventional theories to what caused the recent financial crisis? How about a theory that places the blame on China, for a change? Giles Chance, author of “China and the Credit Crisis”, dances between the fine lines as he gives a fresh spin on the crisis, blind Western policymakers, a global currency and the world order that is to come as the "China effect" dominates familiar Western models of capitalism, politics and diplomacy.

Real Options Analysis And The Assumptions Of Corporate Finance: A Non-Technical Review, Tom Arnold, Richard L. Shockley Jr.

Finance Faculty Publications

This paper provides a non-technical presentation of the theoretical foundations of corporate financial decision making and the net present value (NPV) rule. Our objective is to show that the concepts of value and value creation arise from a single, unified framework that is firmly rooted in neoclassical microeconomic theory. This, in turn, allow us to demonstrate that the corporate valuation approach generically known as real options analysis is perfectly justifiable - without further qualification - in any situation when investors want managers to maximize NPV.

Cal Poly Organic Farm Business Plan, Eric Ryan Mccarthy

Agribusiness

This study was undertaken to determine which strategies would allow the Cal Poly Organic Farm to operate as a profitable business without compromising educational and agricultural objectives. Three strategies were analyzed to determine the most profitable approach. The first strategy, expanding CSA sales, emphasizes marketing efforts to increase products and services awareness. This should increase CSA, CPOF, merchandise, and farmers’ markets sales. The second strategy implements new CSA produce boxes that cater to specific groups. Existing produce boxes will remain available to CSA members. Expanding produce boxes can be done with the produce on hand or expanding crop selection. The …

Debt And Study, Fred Moten, Stefano Harney

Research Collection Lee Kong Chian School Of Business

They say we have too much debt. We need better credit, more credit, less spending. They offer us credit repair, credit counseling, microcredit, personal financial planning. They promise to match credit and debt again, debt and credit. But our debts stay bad. We keep buying another song, another round. It is not credit that we seek, nor even debt, but bad debt -- which is to say real debt, the debt that cannot be repaid, the debt at a distance, the debt without creditor, the black debt, the queer debt, the criminal debt. Excessive debt, incalculable debt, debt for no …

Index-Exciting Caviar: A New Empirical Time-Varying Risk Model, Dashan Huang, Baimin Yu, Zudi Lu, Sergio Focardi, Frank Fabozzi, Masao Fukushima

Research Collection Lee Kong Chian School Of Business

Instead of assuming the distribution of return series, Engle and Manganelli (2004) propose a new Value-at-Risk (VaR) modeling approach, Conditional Autoregressive Value-at-Risk (CAViaR), to directly compute the quantile of an individual asset's returns which performs better in many cases than those that invert a return distribution. In this paper we explore more flexible CAViaR models that allow VaR prediction to depend upon a richer information set involving returns on an index. Specifically, we formulate a time-varying CAViaR model whose parameters vary according to the evolution of the index. The empirical evidence reported in this paper suggests that our time-varying CAViaR …

Overinvestment And The Operating Performance Of Seo Firms, Fangjian Fu

Research Collection Lee Kong Chian School Of Business

Prior studies have documented that firms' operating performance deteriorates following seasoned equity offerings (SEOs). This paper proposes and empirically tests the hypothesis that the poor performance is caused by managers' overinvestment. I show that, subsequent to the offering, SEO firms tend to invest more heavily than non-issuing control firms that are in the same industry and have enough financial slack and similar amounts of investment opportunities. More importantly, I find a negative relation between post-issue investment and operating performance, controlling for investment opportunities and pre-issue performance. The evidence supports an overinvestment interpretation as it stands in contrast to the prediction …

Climate Risk Management: The Case Of Forecasting Tropical Cyclones, Carolyn W Chang, Sk Jack Chang, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

Global warming has induced an increasing number of deadly tropical cyclones with a continuing trend. Developing high-functional climate risk management tools in forecasting, catastrophe modeling, pricing and hedging is thus crucial. By using transactional price changes of traded hurricane derivatives as the predictor in a doubly-binomial pricing framework, we develop a dynamic market-consensus hurricane forecasting model. Our model can forecast when and how a hurricane will make landfall, and how these forecasts will update themselves upon trading arrival.

Designing Successful Online Courses - Part 2, Kathleen P. King

Department of Leadership, Policy, and Lifelong Learning

Once again, our major goal is to provide faculty with consistent guidance through the many instructional decisions and design steps they need to pursue in this process. This process is a fantastic opportunity to craft a virtual learning space in which people can engaging in learning beyond the constraints of time and space.

Five Strategies For Successful Writing Of Reports And Essays, Kathleen P. King

Department of Leadership, Policy, and Lifelong Learning

Many people cannot get started with their literary projects because they do not know where to start. In this brief article, I share insight from years of teaching students and professionals of all ages how to prepare professional work.

With The Financial Crisis Over, Banks Are Hiring Again – But With A Different Job Description, Knowledge@Smu

Knowledge@SMU

The massive blood-letting that was supposed to happen with the recent financial crisis went by, without much of hoopla – at least in this part of the world – and many financial institutions are hiring again. However, with new market reforms, human resource managers are mulling over job descriptions. The mindset to maximise profits may be important, but according to the experts, professionals in the industry will be expected to bring more onto the table – to be accountable to a wider circle of stakeholders and to demonstrate a different set of values.