Digital Commons Network^™

Generative Artificial Intelligence And Its Role In Shaping Customer Loyalty In Banking: A Conceptual Framework, Nimra Aziz, Lean Ee Yvonne Lee, Nayab Khalil Ahmed, Abdullah Aziz, Syeda Hafsa Rizwan, Syed Muntazir Hussain Shah

International Journal of Management, Finance and Accounting

The role of Generative Artificial Intelligence (Generative AI) in Electronic Customer Relationship Management (Electronic-CRM) systems is reshaping consumer engagement in the banking or financial industry. There is a significant gap in understanding the direct impact of Generative AI on Electronic-CRM and customer loyalty in the banking industry. This paper proposes a conceptual framework to investigate the influence of Generative AI on enhancing Electronic-CRM, particularly in three key dimensions: data security, problem-solving, and customer orientation, and its ultimate impact on customer loyalty in the banking and financial sectors. An extensive literature review suggests that the role of Generative AI enhances data …

Identifying Potentially Illicit Money Laundering And Terrorism Financing Transactions Through Machine Learning Techniques, Shiuh Tong Lim, Rou Qing Khoo, Khai Wah Khaw, Xinying Chew

International Journal of Management, Finance and Accounting

Financial institutions worldwide face significant challenges in detecting and preventing illicit financial activities, such as money laundering and terrorism financing. Traditional rule-based methods often generate high false positive rates, increasing manual verification efforts and higher operational costs. This research explores machine learning techniques to enhance the detection of suspicious transactions. Several algorithms, including K-Nearest Neighbors, Decision Tree, Random Forest, Logistic Regression, Support Vector Machine, and Naïve Bayes, are applied and evaluated using a dataset from a financial institution. After a comprehensive performance assessment, the Random Forest model is the most effective, exhibiting the highest accuracy of 0.9333 in identifying suspicious …

The Cost Of Capital Calculation In The Project Finance Settings, Paweł Mielcarz, Dmytro Osiichuk, Adrian Struciński

Journal of Banking and Financial Economics

The paper aims at elucidating and solving the methodological problems around the estimation of the cost of capital in the project finance settings. By convention, capital budgeting analysts evaluate project finance ventures using the free cash flow for equity (FCFE) method, whereby cash flows, including cash, whose distribution is limited by debt covenants, are discounted with the project’s cost of equity. We argue that this approach is erroneous. From the standpoint of the sponsor company, only distributable cash flows should be taken into consideration when evaluating project finance ventures. In turn, the discount rate should be equal to the weighted …

Volatility Of The Usd/Chf Exchange Rate At The Beginning Of The Covid-19 Pandemic, Anna Gaweł, Janusz Kudła

Journal of Banking and Financial Economics

Purpose

We address the problem of forecasting USD/CHF volatility at the beginning of the COVID-19 crisis. We chose popular currencies (Swiss franc and American dollar) in the period 1.07.2020 to 31.12.2020.

Design/methodology/approach

We employed several volatility models, including APARCH, EGARCH, GJR-GARCH, TGARCH, and GARCH-MIDAS, on high-frequency USD/CHF data. Particular emphasis was placed on asymmetric models to capture volatility asymmetry.

Findings

The highest volatility occurred during the first wave of the COVID-19 pandemic. Volatility forecasts are most accurate with EGARCH and GARCH-MIDAS models that incorporate long-term asymmetry, particularly when predicting volatility over a longer planning horizon. GARCH-MIDAS models with short-term asymmetry …

The Discouraging Effect Of Overconfidence, Cary Deck, Klajdi Bregu

ESI Publications

Overconfidence is often viewed as encouraging entrepreneurs and CEOs to follow risky strategies such as entering new markets, engaging in innovation, or pursuing mergers and acquisitions. While such undertakings can generate excess returns and profits, overconfidence is frequently offered as an explanation for why so many business ventures fail. However, we show that in a setting where the decision maker does not know whether success is possible, theoretically, overconfidence can also have a discouraging effect, causing one to give up too soon. This counterintuitive result is driven by effectively misattributing one's own failure to an elevated assessment of the chance …

Multidimensional Monotonicity And Economic Applications, Frank Yang, Kai Hao Yang

Cowles Foundation Discussion Papers

We characterize the extreme points of multidimensional monotone functions from [0,1]ⁿ to [0,1], as well as the extreme points of the set of one-dimensional marginals of these functions. These characterizations lead to new results in various mechanism design and information design problems, including public good provision with interdependent values; interim efficient bilateral trade mechanisms; asymmetric reduced form auctions; and optimal private private information structure. As another application, we also present a mechanism anti-equivalence theorem for two-agent, two-alternative social choice problems: A mechanism is payoff-equivalent to a deterministic DIC mechanism if and only if they are ex-post equivalent.

Impact Of Accounting Information Systems And Islamic Organizational Culture On Information Quality, Oelma Arfannur Azizi, Busra Busra, Marjulin Marjulin

Arab Economic and Business Journal

Amid growing demands for transparency and accuracy in financial management, an effective Accounting Information System plays a crucial role in ensuring that financial data is accurately. However, the implementation of such technology must be supported by a strong organizational culture,. The method employed in this research is a quantitative approach, utilizing inferential statistics to explain the impact of various research variables. The statistical tool used is Structural Equation Modeling -. The results of this study indicate that both the Accounting Information System and Islamic Organizational Culture have a positive and significant impact on the quality of accounting information

The Gift Of Giving: Recognizing Donors And Revealing Donation Amounts, K. Pun Winichakul

Economics: Faculty Publications

Publicly announcing how much individuals donate on behalf of themselves is a common fundraising strategy. For tribute gifts made on behalf of others, however, charities only reveal donor identities to the honoree with few revealing the size of their contributions. This paper examines the fundraising consequences of recognizing donors with and without information about donation amounts when notifying honorees of gifts made on their behalf. I find that revealing contribution amounts in addition to recognizing donors benefits fundraisers. I find that both the likelihood of giving on behalf of others and contribution amounts increase when honorees learn how much donors …

Can Correction Messages Reduce The Spread Of Fake News On Social Media? The Impact Of Information Updates On The Effectiveness Of Corrections, Kelvin K. King, Diego Escobari

School of Economics and Finance Faculty Publications

Although government agencies and fact-checking organizations issue correction messages to mitigate misinformation dissemination on social media, their efforts have been largely ineffective. Drawing on Information Manipulation Theory (IMT) and information extracted from over 84 million tweets, we examine the impact of correction messages and explore how different information updates affect their effectiveness. Our empirical approach differentiates between subpopulations of correction messages. The results support the existence of two distinct types: correction messages that significantly mitigate the spread of fake news—a 1 percent increase in “effective” messages decreases the spread of fake news by 0.89 percent; and those that amplify the …

The Effect Of Education Policy On Crime: An Intergenerational Perspective, Ulrika Ahrsjö, Costas Meghir, Mårten Palme, Marieke Schnabel

Cowles Foundation Discussion Papers

We examine the intergenerational effect of education policy on crime. Using administrative data that links outcomes across generations with crime records, we show that the Swedish comprehensive school reform, gradually implemented between 1949 and 1962, reduced conviction rates for both the generation directly affected by the reform and their sons. The reduction in conviction rates occurred in several types of crime. Mediation analysis suggests that key channels include increased parental educational attainment and household income, as well as reduced criminal behavior among fathers.

Essays On The Health And Labor Market Effects Of Menopause And Menopause Hormone Therapy, Lucia Elvira Torres Frasele

Dissertations - ALL

This dissertation explores how menopause and its medical management affect women’s health and labor market outcomes. Despite the centrality of reproductive transitions in the life course of women, economic research has largely ignored menopause, a biologically and socially significant milestone marking the end of fertility. This omission is surprising, given well-established medical evidence that links menopause to increased risks of health conditions that may impair the ability to work. The dissertation addresses this gap through two chapters that examine the causal impact of menopause and Menopause Hormone Therapy (MHT) on health and labor supply using two distinct empirical strategies. The …

Ectopic Adipose Tissue In Subsistence Populations With Minimal Coronary Disease, Large Left Atria, And Very Low Rates Of Atrial Fibrillation, Randall C. Thompson, Benjamin C. Trumble, Daniel K. Cummings, Angela D. Neunuebel, Paul L. Hooper, Samuel Wann, Adel H. Allam, Frances Neunuebel, Benjamin D. Gans, Samantha I. King, Edmond Seabright, Caleb E. Finch, Margaret Gatz, Kenneth Buetow, Michael I. Miyamoto, Guido P. Lombardi, M. Linda Sutherland, James D. Sutherland, Christopher J. Ward, Madeleine J. Lee, Ashna Mahadev, Daniel Eid Rodriguez, David E. Michalik, Chris J. Rowan, Tianyu Cao, Jonathan Stieglitz, Cameron M. Quick, Gregory S. Thomas, Jagat Narula, Damini Dey, Michael Gurven, Hillard Kaplan

ESI Publications

Background

Methods

Decomposing Trends In The Gender Gap For Highly Educated Workers, Joseph G. Altonji, John Eric Humphries, Yagmur Yuksel, Ling Zhong

Cowles Foundation Discussion Papers

This paper examines the gender gap in log earnings among full-time, college-educated workers born between 1931 and 1984. Using data from the National Survey of College Graduates and other sources, we decompose the gender earnings gap across birth cohorts into three components: (i) gender differences in the relative returns to undergraduate and graduate fields, (ii) gender-specific trends in undergraduate field, graduate degree attainment, and graduate field, and (iii) a cohortspecific “residual component” that shifts the gender gap uniformly across all college graduates. We have three main findings. First, when holding the relative returns to fields constant, changes in fields of …

How Public Education Policies Drive Economic Growth In Asean : An Analysis Of Resource Allocation Theory, Human Capital Accumulation, And Structural Transformation Pathways, Jiacheng Li

Lingnan Theses (Doctoral degree)

This study examines how public education policies influence economic growth across ASEAN nations through the theoretical lens of resource allocation theory. While ASEAN has maintained an average GDP growth rate of 5.1% since 2000, significant disparities between high-growth and low-growth economies persist in educational investment and outcomes.

Methodologically, the study conducts empirical studies and integrates panel data (1990–2023) across ten member states that underwent spatial econometrics analysis. It dissects three transmission pathways: (1) human capital accumulation enhancing labor productivity via skill development; (2) educational stratification driving industrial restructuring; and (3) spatial spillovers facilitating cross-border knowledge diffusion. These mechanisms are operationalized …

Low Beta Anomaly In Some European Emerging Markets, Tadeusz Winkler-Drews, Mateusz Mogilski

Journal of Banking and Financial Economics

The aim of the study was to identify the low beta anomaly and analyse the causes of its occurrence in five European emerging markets that were components of the MSCI Emerging Markets Europe index in the period 2010–2019. It was hypothesized that the determinants of the low beta anomaly in the analysed markets are factors from at least two of the three categories of variables. Using the Betting Against Beta model proposed by A. Frazzini and L. H. Pedersen (2014), we found that this phenomenon was not identified in three markets, but occurred in the remaining two markets, for which …

Factors Influencing The Performance Of Farmer-Producer Organizations (Fpos) And Their Societal Impact In Tamil Nadu, Arjune S

Theses and Dissertations

Farmer Producer Organizations (FPOs) are formed mainly for the farmers to have better institutional access to acquire them. They are also under the inspiration of the director's abstinence and the incentive of getting more money. These are socio-psychological individual differences and thus of importance to markets, the perception of markets, and market relevance of group interaction. Self-esteem, attitude to participation in group activities, and willingness to participate in these types of activities are of some significance for his/her performance because they have an effect on their performance afterward.

Farmer social empowerment increased but not farmer economic empowerment did so much …

Development Of An Access Charge Framework For High-Speed Rail Incorporating Rail Replacement Costs And Dynamic Train Characteristics, Nitesh Kumar Yadav

UNLV Theses, Dissertations, Professional Papers, and Capstones

This thesis develops a framework to determine track access charges for shared high-speed rail corridors, with a focus on rail replacement cost driven by train-induced loads. The method explicitly accounts for both static loads, resulting from axle weights, and dynamic loads that arise from train speed and track geometry, particularly curvature. Train characteristics such as axle load, operating speed, frequency of service, and number of wheels are integrated with track parameters, including curve radius, to calculate the total vertical load. These loads are used to estimate the cumulative tonnage threshold for rail replacement and the resulting service life of the …

Real Earnings Management Among Industries: Does Market Competition Matter?, Michał Comporek

Journal of Banking and Financial Economics

This paper investigates real earnings management (REM) practices in public non-financial companies listed on the Warsaw Stock Exchange (WSE) from 2014 to 2023, focusing on sectoral differences and the influence of market competition. REM, defined as deviations from normal business operations aimed at manipulating reported earnings, can distort financial information and harm long-term firm value. This study contributes to the existing literature in two key ways. First, it examines variations in abnormal levels of production costs, sales, and discretionary expenditures – REM proxies based on Roychowdhury’s methodology – across sectors classified according to the WSE’s industry framework. This sectoral classification, …

Leadership Strategies To Enhance The Sustainability Of Virginia United Methodist Churches, Randolph Raymond Shelton

Walden Dissertations and Doctoral Studies

Walden University August 2025 United Methodist church attendance has declined for numerous years in the United States and other areas worldwide. Many United Methodist church leaders face challenges in achieving church sustainability. The purpose of this descriptive phenomenological study was to explore the lived experiences of Virginia United Methodist church leaders concerning leadership strategies to enhance church sustainability. The study’s conceptual framework consisted of Bass and Avolio’s full range leadership model and Lewin’s three-stage change model. The participants comprised United Methodist church leaders who held positions as Virginia Conference district superintendents, pastors, and the bishop. The data collection method was …

Volume Ii | Issue I | 2025

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

Inflation Targeting And Inertial Rules, Araha Uday

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

Restrictions On Veto Power: Holding The Permanent Five Accountable In The Face Of Intervention And Peacekeeping Operations, Theo Aldrighi

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

ABSTRACT: This article examines the structural constraints of the United Nations Security Council, with a focus on the veto power of its permanent members and its implications for intervention and peacekeeping. Through a realist lens and grounded in structural analysis, it contends that the recurrent paralysis of the Council in the face of mass atrocities stems from entrenched power asymmetries. The paper advances a bifold proposal: the adoption of the French-Mexican initiative to suspend veto use in cases of mass atrocities, and the entrenchment of the Council’s authority to authorize the use of force under defined conditions. Drawing on case …

Judicial Lustration In Backsliding Democracies: Causes And Solutions For Publication, Collin Mcdonnell

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

The Effects Of Pandemic School Closures On Standardized Testing Outcomes: Evidence From Connecticut, Michael Manieri

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

During the Covid-19 pandemic, schools around the nation closed to prevent the virus’s spread. Following these closures, students’ performance on standardized exams worsened. Using a two-way fixed effect model with district and year fixed effects, I examine if the use of non-traditional schooling modes (i.e. hybrid and virtual) during the pandemic is associated with lower ELA and Math proficiency rates in Connecticut public schools. I find that Connecticut public school districts’ Math and ELA pass rates on the annual Smarter Balanced exam significantly decreased as they used higher levels of virtual and hybrid education. The magnitude of this decrease was …

Cross Section Curve Autoregression: The Unit Root Case, Peter C.B. Phillips, Liang Jiang

Cowles Foundation Discussion Papers

This paper is part of a joint study of parametric autoregression with cross section curve time series, focussing on unit root (UR) nonstationary curve data autoregression. The Hilbert space setting extends scalar UR and local UR models to accommodate high dimensional cross section dependent data under very general conditions. New limit theory is introduced that involves two parameter Gaussian processes that generalize the standard UR and local UR asymptotics. Bias expansions provide extensions of the well-known results in scalar autoregression and fixed effect dynamic panels to functional dynamic regressions. Semiparametric and ADF-type UR tests are developed with corresponding limit theory …

Selective Turnout, Voting Policy, And Partisan Bias: Evidence From Multi-Level Data, Steven T. Berry, Christian Cox, Philip A. Haile

Cowles Foundation Discussion Papers

We study voting in general elections for the U.S. House of Representatives. Our data set includes demographics and turnout of all registered voters for the years 2016–2020, as well as vote shares at the precinct and contest level. We estimate a Downsian voting model incorporating rich observed and unobserved heterogeneity at the voter and contest level. We find that voters with high perceived voting costs tend to favor Democrats, as do marginal voters in most districts. Variation in state voting policies accounts for a modest share of overall estimated voting costs but is sufficient to determine the majority party in …

Proceedings Of The 19th Facet Theory Conference, Samuel Shye

International Facet Theory Conference

No abstract provided.

Tracking Impact: Leveraging Pre-Existing Monitoring Tools For Assessing Indonesia’S Free Nutritious Meal (Makan Bergizi Gratis) Programme, Putu Geniki Lavinia Natih

Economics and Finance in Indonesia

Indonesia’s Makan Bergizi Gratis (MBG) programme is among the largest school feeding initiatives globally, yet its rapid scale-up has outpaced the development of a robust monitoring, evaluation, and learning (MEL) framework capable of assessing welfare-relevant outcomes. This paper examines whether pre-existing national survey instruments can be leveraged to strengthen outcome monitoring in the absence of MBG-specific microdata. Focusing on the Food Insecurity Experience Scale (FIES) collected through Indonesia’s National Socio-Economic Survey (Susenas), the study first situates experiential food insecurity within Indonesia’s broader food security landscape. It then applies a propensity score matching framework using participation in the Bantuan Pangan Non-Tunai …

The “Sweetest Sounding” Words Of Civil Rights: A Labor Origin Story Of The “Right To Work”, Thomas A. Castillo

History

This essay revisits the idea of “right to work” by offering historical context of Florida’s passage of its 1944 right to work constitutional amendment. A brief overview of the history of the term right to work and its contested nature indicates how the phrase likely led to confusion especially in the arena of political economy. A close evaluation of the amendment and its incongruent nature reveals the intent of its proponents was to deceive voters with the “sweetest sounding” words of civil rights while weakening their ability to organize labor unions. The history of safeguarding the free market entailed disciplining …

Intergenerational Transmission Of Health: Evidence From Indonesia, Fatima Khan

Theses and Dissertations

This study estimates the causal transmission of health from mothers to their children. Intergenerational associations in health and other human capital outcomes are well established, but those associations may not be causal due to common unobserved factors between a mother and her child. This study employs two-stage least squares, using weather variation as an instrument, to causally identify the relationship between maternal health and child health outcomes in five dimensions: height-for-age, self-reported health, blood pressure, lung capacity, and hemoglobin levels. The data are from the Indonesian Family Life Survey (1993--2014), a longitudinal survey that provides a 21-year look into the …