Business Commons^™

The Structural Changes Of The Hedge Fund Industry Over Time, Simeon Kawakami

Business/Business Administration

Historically, the hedge fund industry is one of the fastest growing investment classes in the last decade. This study looks to analyze the hedge fund industry structural changes from 1994 to 2010. A premise for this study is previous research which shows small funds tend to outperform large funds. Parameters are set to determine the classification of a fund being small, medium, or large. The asset flows to each category are tracked overtime in order to show structural changes. For each category the number of small, medium, and large hedge funds in tracked over time. The results are inconclusive in …

The Effectiveness Of Sell Discipline Strategies In Institutional Portfolios, Ryan Kennedy

Business/Business Administration

Prospect theory predicts that individuals will be risk seeking when faced with a potential loss. An implication is that investors may be reluctant to sell losing stocks, leading to potentially greater losses. This study explores whether institutional portfolio performance is significantly related to the manager’s stated sell discipline strategy. Six distinct sell discipline approaches are compared using four performance metrics. As predicted by prospect theory, this study finds sell discipline to be a statistically significant factor in performance for all performance metrics. The results also show that the best sell discipline strategy is dependent on which performance metric is used.

Terrorisk: The Impact Of Terrorist Attacks On Sovereign Bond Yield Spreads Of Targeted Countries, Slava Rar

Business/Business Administration

This study estimates the effects of terrorism incidents on a nation’s borrowing costs. An event study approach is used to evaluate changes in sovereign-bond yield spreads after terrorist attacks occur. Prior research is not in consensus on whether the effect of terrorism on bond markets is significant, and no study shows why certain bond indices may rise while others may fall after a terrorist attack. This study does not find statistical significance, which suggests that the effect of an attack may depend on the targeted country. For terrorist researchers, this study is one step toward answering whether terrorists can manipulate …

The True Value Of Value-Added Services In Digital Print, Noemi Garcia

Graphic Communication

This study compares the success of five digital printers in California’s central coast based on whether they choose to charge for value-added services. It questions past research that shows digital printers who implement an additional fee for such services are more successful than digital printers who do not always bill the customer for the extra services. It focuses on determining the reasons behind each printer’s strategy through a questionnaire. The study concludes printers not charging are not necessarily losing money because they have found ways to eliminate non-value-adding steps in their value chain. Therefore success must be redefined other than …

The Effect Of Gender And Leadership Styles On Employee Satisfaction, Brittany Williams

HIM 1990-2015

To ensure the success of a company, it is essential for supervisors to interact effectively with the employees they oversee. Effective interactions between supervisor and employee go hand-in-hand with employee satisfaction, which can impact firm performance. The purpose of this thesis is to examine key drivers of employee satisfaction. Specifically, this thesis tests whether or not employees with supervisors of the same sex as themselves are more satisfied than employees with supervisors of the opposite sex. It also compares and contrasts the level of satisfaction an employee has in correspondence with transformational and transactional leadership styles and whether this relationship …

Analyzing Revenue Sharing And Buyback Contracts: An Experimental Study, Chinthana Ramaswamy

Graduate Masters Theses

This paper considers a standard newsvendor problem in a two-echelon supply chain setup. We use an experimental approach to investigate the deviation of decision makers from choosing optimal values in the context of supply chain contracts. Literature suggests that the coordinating contracts, such as revenue sharing or buyback contracts, do not necessarily improve the performance. Approaches to improve the existing revenue sharing and buyback contracts are examined in this paper. A rational supplier, who is likely to commit decision errors, sets the contract parameters to a retailer. These approaches are observed in a laboratory setting where human subjects are used …

Essays On Time-Varying Risk And Investor Sentiment: Evidence From The U.S. And G-7 Countries Using Multivariate Garch Modeling, David William Johnk

Theses and Dissertations - UTB/UTPA

This dissertation investigates the effects of investor sentiment on asset prices in both the U.S. equity market (chapter III) and international market (chapter IV). It employs a conditional version of the CAPM using a parsimonious generalized autoregressive conditional heteroskedasticity (GARCH) model in which the risk premia, betas, and correlations are time-varying. Investor sentiment is presented from two direct measures (surveys) and one indirect measure as conditional information variables; whereas, previous studies used macroeconomic fundamentals. Furthermore, investor sentiment is not assumed to be fully irrational. It is decomposed into its rational and irrational components. Both rational and irrational components are tested …

Essays On Hedge Fund Performance, Sang Heon Shin

Theses and Dissertations - UTB/UTPA

This dissertation consists of two essays on hedge fund performance. The first essay models exposure of hedge fund to risk factors and examines time-varying performance of hedge funds. From existing models such as ABS-factor model, SAC-factor model, and four-factor model, we extract the best six factors for each hedge fund portfolio by investment strategy. Then, we find combinations of risk factors that most explain variance in performance of each hedge fund portfolio by investment strategy. The results show instability of coefficients in the performance attribution regression. Incorporating time-varying factor exposure feature would be the best way to appropriately measure hedge …

Cultural Anthropological Research In The Business Environment, Caitlin Farmer

Chancellor’s Honors Program Projects

No abstract provided.

Strength In Numbers? Creating A Peacebuilding Network In Rwanda, Dan Shamblin

Capstone Collection

In the 18 years since the genocide, Rwanda has transitioned into a prosperous and peaceful country. However, the need for peacebuilding actors is not removed. Currently, programs in peace, unity and reconciliation work independent from each other. The result is many programs are duplicated; some areas of the country have many programs while other areas are basically neglected. It would be beneficial if peacebuilding efforts were able to come together in a more collaborative fashion. One way in which this can happen is through a network. In this study, 17 organizations and 4 focus group interviews were conducted to assess …

Feasibility Analysis Of A Microbrewery, Dylan Warren Snyder

Agribusiness

No abstract provided.

Organizational Perceptions And Responses To The Natural Environment, Michael O. Wood

Electronic Thesis and Dissertation Repository

In 2005, the Millennium Ecosystem Assessment reported that two-thirds of the world’s ecosystems were being exploited well beyond sustainable levels. Given that many firms across sectors rely on natural resources to conduct business, it is surprising that many have failed to make their business practices more sustainable. I believe this occurs not because companies are acting in their own enlightened self-interests, but because they are unable to perceive the severity of such issues. The key is that perceptual deficiencies are not the result of blatant disregard, but of systemic incompatibility. That is, most companies do not choose to ignore environmental …

Roles And Responsibilities Of Nonprofit Boards: The Peace Case, Patrick Kennelly

Professional Projects

This exploratory study identifies the levels of importance and fulfillment of board roles and responsibilities by nonprofit peacemaking organization board members and executive directors. It suggests a three-component framework for understanding board governance. By employing purposive non-probability sampling, this study used board governance instruments, developed by Inglis, Alexander, and Weaver’s (1999), to identify a three-component framework: strategic activities, resource planning, and evaluations for nonprofit organizations whose mission is peacemaking. It examines the relevance of the framework suggested by Inglis, Alexander, and Weaver’s (1999) for nonprofit peacemaking organizations. The results of this study can be used by nonprofit peacemaking organizations to …

An Examination Of Middle Manager Innovation Behaviors And Institutional Factors Impact On Organizational Innovation In The Usa And Mexico, J. Lee Brown Iii

Theses and Dissertations in Business Administration

Several scholars have suggested mid-level management is an important factor that explains strategic outcomes (Wooldridge, Schmidt, & Floyd, 2008), but little research has investigated how this relationship actually works in multiple institutional environments. The resource-based view of the firm argues that competitive advantage is a function of resource heterogeneity and immobility (Barney, 1991) and the discretionary decisions made by managers about resource creation, development, and allocation (Amit & Shoemaker, 1993). These boundedly-rational managers (Simon, 1957) make these decisions facing an uncertain and complex internal and external environment. Thus, this dissertation extends the current research by developing and testing a new …

A Business Plan For A Successful Family-Run Restaurant In Heber City, Utah, Brittany M. Bringhurst

UNLV Theses, Dissertations, Professional Papers, and Capstones

Business plans are considered to be an important, “even crucial,” part of opening any business (Lange, Mollov, Pearlmutter, Singh, & Bygrave, 2007). Because of a gap in the literature directed toward successful business plan strategies specific to the family-run restaurant sector, this paper is going to consider the available information regarding family-run businesses in general and apply them to the restaurant industry.

The Family And Medical Leave Act’S Impact On The Hospitality Industry: Implementing Policies To Ensure Continued Productivity, Katie O'Brien Coon

UNLV Theses, Dissertations, Professional Papers, and Capstones

The Family and Medical Leave Act, (FMLA), allows women and men to take up to 12 weeks leave to care for a newborn child (maternity leave) and/or care for sick family members. The Department of Labor states that:

FMLA entitles eligible employees of covered employers to take unpaid, job-protected leave for specified family and medical reasons with continuation of group health insurance coverage under the same terms and conditions as if the employee had not taken leave (Family and Medical Leave Act - Wage and Hour Division (WHD) - U.S. Department of Labor, 2012).

When an employee decides to take …

Research On Factors Affecting Thai Manufacturer Deal With Supply Chain Disruption Toward Decentralization, Supasiri Songsiridej

World Maritime University Dissertations

No abstract provided.

Liner Shipping Company As The Logistics Service Provider: Case Study Of Cosco Logistics, Tao Zhou

World Maritime University Dissertations

No abstract provided.

Research Of Laytime And Demurrage, Gengwei Zheng

World Maritime University Dissertations

No abstract provided.

An Investigation Of Employee Engagement And Business Outcomes At An Engineering Services Firm, Preetinder Singh Gill

Master's Theses and Doctoral Dissertations

This research study investigated the constructs and dimensions of employee engagement and their relationship with business outcome data from 2009 to 2011 at a mid-sized engineering services firm and two of its business units. Employee engagement ratios, as defined by Crabtree (2004), for all entities studied were below that associated with world-class organizations. Survey items related to salary and compensation received low scores from both engaged and disengaged employees. Kruskal-Wallis’s median comparison tests revealed that many survey items varied over the period of three years for each entity studied. A factor analysis of companywide survey data yielded 5 dimensions of …

The Effects Of The Environment And Corporate Governance On Illegal Cartel Activity, David Kunsch

Electronic Thesis and Dissertation Repository

Illegal corporate activity, including the price fixing activity of two or more firms through cartels, costs the global economy billions of dollars a year, yet its causes are neither well studied nor well understood in organizational literature. This thesis explores possible external and internal antecedents of illegal cartel activity through the management lenses of resource dependency theory and agency theory and the criminological theory of anomie in the examination of the research question “Why do corporations engage in illegal activity?” I posit that illegal international cartel activity is influenced by the environment in which the organization finds itself, moderated by …

Boards As Strategy Makers: The Antecedents And Consequences Of Board Involvement In Strategic Decision Making, Karen Ford Eickhoff

Doctoral Dissertations

This study describes the antecedents and consequences of the direct involvement of boards in forming the strategies of the organizations they serve. If boards are involved directly and early in the strategic decision making process rather than being held at the periphery, board members may become important assets to their organizations as strategy makers beyond their limited contributions as monitors or advisors. By providing a look inside the “black box” of decision making in board rooms, this research addresses a gap in the strategy and board literatures and has important practical implications for executives and board members who are interested …

Shopper Marketing And Social Networks: The Path To Integration, Hannah Joy Stolze

Doctoral Dissertations

The purpose of this dissertation is to examine the phenomenon of cross-functional integration of frontline employees supporting complex marketing initiatives. This dissertation contributes to research and managers through the exploration of how integration takes place, how knowledge is integrated across functions through social ties between people, and to begin to inspect its effects on the performance of marketing strategies. Integration captures the state of collaboration and coordination between individuals within and between a firm’s functions. To date, cross-functional integration has been conceptually developed, but not empirically evaluated.

An extensive, multi-disciplinary literature review provides the foundation for understanding integration within the …

Determinants And Consequences Of Risk Management Committee Formation, Chris Hines

Graduate Theses and Dissertations

This paper examines the determinants and consequences of financial institutions voluntarily forming risk management committees (RMCs). Specifically, I determine whether RMCs are related to a change in risk outcomes, an increase in profitability, a change in hedging and trading derivative structures, and greater financial reporting quality during the post-committee formation period compared to a control group. I use a sample of financial institutions that form a RMC in any year from 1994 through 2008 and a control sample of financial institutions that do not form a RMC during the sample period. The results provide evidence to suggest that financial institutions …

Empirical And Analytical Essays On The Relationship Between Inventory And Transportation, Rodger David Swanson

Graduate Theses and Dissertations

This dissertation examines the relationship between inventory cost (IC) and transportation cost (TC). The association of the two has been recognized for over a hundred years; accordingly, managers and academics have believed that these costs have offsetting properties such that combinations of inventory and transportation expenditures can be altered to fit different strategic objectives. However, the behavior of this relationship in practice has not been tested. The essays of this dissertation examine this relationship through multiple theoretical lenses and with multiple data sets. Essay 1 examines aggregate IC and TC in the United States from 1960-2009. This period coincides with …

Examining The Leadership Style And Sustainability Of Two Female Head Coaches At A Southeastern Land-Grant University, Allison Fulmer

Masters Theses

Abstract

Reflection on the influences and experiences of successful female head coaches of women sports is important to understanding the factors that have enabled them to obtain and sustain their leadership positions in a male-dominated profession. The purpose of this qualitative study was to examine the experiences of two female head coaches at a Southeastern land-grant university and to understand how they have sustained their role as a head coach in a world where female coaches are significantly declining. The specific objectives of this research were to: (a) understand female head coaches’ knowledge of what a land-grant institution was created …

Small Audit Firms And Earnings Manipulations, Huichi Huang

Business Administration - Dissertations

This paper examines the monitoring role of small audit firms (i.e., those with 100 or fewer clients who are subject to different levels of oversight by the PCAOB) on earnings management. Specifically, I examine the relationship between earnings manipulations and the use of small audit firms. I find that small audit firms are less able to constrain managers' opportunistic use of discretionary accruals. However I find no evidence that small audit firms are associated with real activities manipulation. By investigating a specific group of audit firms that are the smallest in the audit market, this study extends our understanding of …

The Role Of Liquidity In The Market For American Depositary Receipts: Evidence From Latin America, Alma Delia Hales

Theses and Dissertations - UTB/UTPA

Since 2003 Latin America has exhibited macroeconomic stability that starkly contrasts conditions in the 1990s. Capital flows from the United States to Latin American equity markets, particularly through American Depositary Receipts (ADRs), increased from 2003 until 2008 when they declined due to the global financial crisis. However, by 2010, capital flows to most Latin American countries exceeded their pre-crisis levels. In spite of the reported macroeconomic stability and rising capital flows, Latin American stock markets remain underdeveloped and exhibit low domestic liquidity. This dissertation analyzes the relationship between low domestic liquidity and the market for ADR issues from four Latin …

The R&D Boundaries Of The Firm And The Governance Of R&D Alliances: Essays On Institutions, Strategic Considerations And Contract Structure, Jason Michael Pattit

Management - Dissertations

The three essays in this dissertation examine questions related to the R&D boundaries of the firm and the governance of R&D alliances. The first essay draws on institutional theory to examine the history of corporate R&D in the U.S. since the mid-19th century. Formal and informal institutional rules and constraints are shown to play a role in the initial rise of markets for technology in the 19th century, their decline during the early-20th century, and their eventual return at the end of the 20th century. The influence of formal and informal institutions on the adoption of in-house R&D labs in …

Is Capital Structure Relevant? An Empirical Examination Of Capital Structure Choices, William R. Pratt

Theses and Dissertations - UTB/UTPA

Modigliani and Miller propose a scenario in which capital structure becomes irrelevant. To achieve the condition of capital structure irrelevance, Modigliani and Miller have to assume market frictions such as taxes, information asymmetry, and other factors do not exist. With the acknowledgement of such forces, capital structure irrelevance does not hold and we are left with the question “why do firms finance the way that they do?” Within this dissertation I address this very question. Chapters one and two provide an introduction and review of the extant literature. Chapter three examines data over a period of 1970 to 2010, with …