Finance and Financial Management Commons^™

The Impact Of Groups And Decision Aid Reliance On Fraud Risk Assessment., Anna Alon, Peggy Dwyer

Faculty Publications

The purpose of this paper is to investigate how the brainstorming component of Statement of Auditing Standards (SAS) No. 99 influences decision aid use and reliance, and the effectiveness of fraud risk assessment. The research framework links the influences of the fraud assessment setting and decision aid reliance. The hypotheses are tested in an experiment with two manipulated factors: setting (group or individual) and decision aid (provided or not provided). The results of the study provide insight on how the brainstorming impacts fraud risk assessment, decision aid use and decision aid reliance. The results show that groups using a decision …

Indiana State University Financial Report 2010, Indiana State University

Financial Reports

No abstract provided.

A Common Eurozone Bond, Erik Welin

WCBT Undergraduate Publications

Introduction

The sovereign bond yields of the Eurozone, or more correctly the euro area, have since the introduction of the Euro undergone a bond yield compression. However, as can be seen in table 1, these bond yields started to diverge considerably around mid 2008 following the recent financial crisis and increased sovereign risk. Yields on Greek, Irish, and Portuguese bond have diverged the most from for example German bonds. Based upon this and the ongoing economic integration within the EU and Eurozone, proposals for a common Eurozone bond have been raised. There are many pros and cons with such a …

The Debt And Dividend Decisions For Non-Stock Cooperatives: Pecking Order Vs. Trade-Off, David P. Smiy

Theses & Honors Papers

This study tests the trade-off and pecking order theories about the debt and dividend capital decisions for non-stock electric cooperatives. Decisions to finance investments with debt or equity are important because they determine the firm's capital structure. With the trade-off theory there is an optimal balance of debt and equity, and the firm uses debt until it is more expensive than issuing equity thus reaching the firm's optimal capital structure. Meanwhile, the pecking order theorem contends the firm should use internal funds first, then debt, and equity as a last resort. Both theories have the same …

Moving Towards A Culturally Diverse Accounting Profession, Elizabeth K. Jenkins, M. Calegari

Faculty Publications

This paper discusses the increasing diversity in the accounting profession. Evidence is presented substantiating that over one third of recent accounting graduates are from ethnic minority backgrounds, the majority of whom are Asian/Pacific Islanders. In our university specific data, we find an even higher percentage (71%) of ethnic minorities receiving accounting degrees, with Asian/Pacific Islanders as the majority group. We also show that over one fourth of new accounting graduates hired by accounting firms are ethnic minorities of which fifty percent are Asian/Pacific Islanders.

Corporate Social Responsibility And Earnings Reporting, Mary F. Calegari, T. Chotigeat, M. A. Harjoto

Faculty Publications

Despite increasing interests on corporate social responsibility (CSR) activities among managers, the relationship between CSR and firm value through earnings reporting quality is still unclear. Absence of a strong positive effect of CSR on firm value has led researchers to believe that CSR is a res ult of a principal-agent issue between shareholders and managers. This study argues CSR represents a corporate culture that influences how a corporation reports its earnings. CSR influ ences earnings reporting ·instead ofearnings reporting drives CSR to delude shareholders. CSR induces better earnings reporting quality, therefore, CSR has an indirect but positive effect on firm …

What Financial Risk Managers Can Learn From Six Sigma Quality Programs, Barry Doyle, Robert Mefford, Nicholas Tay

Finance

As the financial crisis of 2008 has revealed, there are some flaws in the models used by financial firms to assess risk. Credit, volatility, and liquidity risk were all inadequately modeled by supposedly sophisticated financial institutions employing dozens of financial engineers with advanced degrees. It is now clear that some of the underlying assumptions of the statistical models utilized were seriously flawed, and interactive and systemic effects were improperly modeled. Correcting these modeling flaws is one approach to preventing a reoccurrence. However, another approach is suggested by Six Sigma quality programs used in manufacturing and service industries. Some basic tenets …

Black Swans And Retirement Strategies: Is “Buy And Hold Best”?, Barry Doyle, Robert Mefford, Nicholas Tay

Finance

The recent market crash which has led to as much as a 47% drop in the value of the S&P500 index has made some of us wonder if there is a cost effective way for us to hedge our retirement portfolios against such a drastic loss. Our objective is to investigate empirically the tradeoffs that will arise from using a protective put strategy for hedging retirement portfolios over an investment horizon that is long enough to be comparable to the average holding period for retirement portfolios

Personal Financial Planning Attitudes - A Study, Scott A. Yetmar, D. Murphy

Business Faculty Publications

Purpose – The purpose of this paper is to report on a survey about the personal financial planning attitudes of MBA students in the USA. Design/methodology/approach – The study surveyed 206 MBA students about their attitudes to personal financial planning. Participants were asked about their level of knowledge, whether they had prepared components of a financial plan, where they might seek assistance in such a process and the criteria for selecting a financial planner. In addition, participants were asked to indicate their level of confidence in a financial plan's capacity to help them meet their long-term needs and the likelihood …

Microfinance For Migrant Workers: Asia's Next New Market Opportunity?, Patsian Low

Social Space

Employment in developed countries is often the main source of income for many people at the bottom of the pyramid in developing countries and has led to the growth of an industry based on remittances. Patsian Low studies the ramifications this has for developing microfinance in host countries and the potential for cross-border collaboration in Singapore and Asia.

Financial Liberalization And Banking Crises: A Cross-Country Analysis, Apanard P. Angkinand, Wanvimol Sawangngoenyuang, Clas Wihlborg

Business Faculty Articles and Research

Several studies indicate that financial liberalization contributes to the likelihood of a financial crisis. We focus on banking crises and argue that they are most likely to occur after an intermediate degree of liberalization. Using a recently updated dataset for financial reforms in 48 countries between 1973 and 2005, we find an inverted U-shaped relationship between liberalization and the likelihood of crisis. We ask whether the relationship remains when institutional characteristics of countries and dynamic effects of liberalization are considered. The empirical results indicate that the relationship between liberalization and banking crises depends strongly on the strength of capital regulation …

A Social Movement Perspective On Finance: How Socially Responsible Investment Mattered, Diane-Laure Arjaliès

Business Publications

This study discusses how social movements can influence economic systems. Employing a political–cultural approach to markets, it purports that ‘compromise movements’ can help change existing institutions by proposing new ones. This study argues in favor of the role of social movements in reforming economic institutions. More precisely, Socially Responsible Investment (SRI) movements can help bring SRI concerns into financial institutions. A study of how the French SRI movement has been able to change entrenched institutional logics of the French asset management sector provides wide-ranging support for these arguments. Empirical findings are drawn from a longitudinal case study (1997–2009), based on …

When East And West Meet: An Essay On The Importance Of Cultural Understanding In Global Business Practice And Education, Sj Chang

Faculty Publications – Finance, Insurance, and Law

As today’s business decisions and choices are increasingly influenced by the diverse cultural backgrounds and perspectives of various corporate stakeholders, it is critical for business managers to have multicultural understanding. This motivates us to refine our business perspectives and approaches in global arena as well as our educational philosophies on global business management. Based on casual yet experiential discussions, this essay presents some cohesive points on comparative cultural understanding and business implications thereof between the “West” and the “East,” which is presupposed by the cultural contrasts between America and Korea. It can hopefully serve as a practically meaningful guideline for …

2009-2010 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2009-2010 Financial Summary of Morehead State University.

Risk And System-Of-Systems: Toward A Unified Concept, C. Ariel Pinto, Michael K. Mcshane, Rani Kady

Engineering Management & Systems Engineering Faculty Publications

The scope of this paper is the survey of both fundamental and most recent publications in system-of-systems, business and insurance, as well as risk analysis, modeling, and management for the purpose of better describing the concept of risk in recognition of emergence and complexity which characterizes many systems within the concern of engineering and business managers. The ultimate goal is to provide engineering and business managers the necessary perspective on the concept of risk and in its management for the next generation of sustainable systems - including various descriptions of risk and discussion of the relevance of properties of system-of-systems …

Revelations Of Adaptive Technology Hiding In Your Operating System, Kathleen P. King

Department of Leadership, Policy, and Lifelong Learning

Pre-publication version of a chapter about the assistive technology tools and resources available for free in Windows OS and Mac OS. Introducing higher education faculty to free resources, features and programs which they can recommend to their students or perhaps use for themselves (for instance for fading eyesight or hearing). In addition, the chapter briefly shares strategies and examples of how they might be used.

The book will have an entire chapter dedicated to assistive technology as well. This is a popularized assistive technology chapter for generalist, NON special education, faculty to become acquainted with readily available and free resources. …

The Global Financial Crisis: World Market Or Regional Contagion Effects?, Lucia Morales, Bernadette Andreosso-O'Callaghan

Conference papers

In the last two decades, the world economy has been challenged by different economic and financial crisis. These events have captured researchers’ attention, and in particular the analysis of contagion effects derived from stock market shocks have been a focal point of interesting discussions. However, there is little consensus on how contagion should be defined and indentified. Consequently, this paper contributes to the already settled debate on the area proposing the analysis of contagion effects in a worldwide framework, where three different econometric models to test for contagion are being used. The main results are in line with most of …

Time Varying Risk Aversion: An Application To Energy Hedging, Jim Hanly, John Cotter

Articles

Risk aversion is a key element of utility maximizing hedge strategies; however, it has typically been assigned an arbitrary value in the literature. This paper instead applies a GARCH-in-Mean (GARCH-M) model to estimate a time-varying measure of risk aversion that is based on the observed risk preferences of energy hedging market participants. The resulting estimates are applied to derive explicit risk aversion based optimal hedge strategies for both short and long hedgers. Out-of-sample results are also presented based on a unique approach that allows us to forecast risk aversion, thereby estimating hedge strategies that address the potential future needs of …

Pelaksanaan Instrumen Pelaburan Islam Di Islamic Bank Of Thailand (Isbt)., Fatimah Abdulmajid @ Ahmae

Student Works (2010-2019)

This research was carried out at Islamic Bank Of Thailand (ISBT), Wattana district, Bangkok, Thailand. The objectives of this study are try to observe and evaluate the performance and implementation of its Islamic investment instruments then analysis the performance and implementation, its effective and problem in its implementation. First chapter will describe the meaning of investment in both conventional and Islamic economic system. Chapter two will focus on Islamic Bank Of Thailand (ISBT) where will consist of history towards establishing of Islamic financial institution in Thailand, Muslim societies economic situation in Thailand until the existence of Islamic Bank Of Thailand …

Did We Tame The Beast: Views On The Us Financial Reform Bill, Lawrence G. Baxter

Faculty Scholarship

Prof. Lawrence Baxter takes a microscope to the ‘Dodd-Frank’ Bill (Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. 4173) finding a veritable ’Micrographia’ of doubt. The Bill was devised to address problems associated with the global financial crisis of 2007-2009. This paper was written in anticipation of the US Financial Reform Bill’s passage through Congress. The legislation has since been enacted as Public Law No. 111-203, signed by President Obama on July 21, 2010.