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Full-Text Articles in Business

Moving Average Stratification Algorithm For Strata Boundary Determination In Skewed Populations, Akeem O. Kareem, Isaac O. Oshungade, Gafar M. Oyeyemi, Adebowale O. Adejumo Jun 2015

Moving Average Stratification Algorithm For Strata Boundary Determination In Skewed Populations, Akeem O. Kareem, Isaac O. Oshungade, Gafar M. Oyeyemi, Adebowale O. Adejumo

CBN Journal of Applied Statistics (JAS)

Moving Average Stratification (MAS) is a new competing and simple algorithm for strata boundary determination in Stratified Sampling. It eliminates arbitrary choice of class interval associated with cumulative square root of frequency method (Dalenius and Hodges Rule (DHR) 1959) and the inherent geometric gaps created within strata by Geometric Stratification (GMS) of Gunning & Horgan (2004). It competes favorably well with DHR and GMS in terms of its precision, simplicity and speeds and therefore recommended for use in strata boundaries determination especially in skewed populations.

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Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon Jun 2015

Dollarization, Inflation And Interest Rate In Nigeria, David O. Olayungbo, Kehinde T. Ajuwon

CBN Journal of Applied Statistics (JAS)

This paper investigates the relationship among dollarization, inflation and interest rate in Nigeria for the period 1986-2015Q1. It adopts inter-temporal model of money-in-utility (MIU) with an estimation technique of structural vector autoregression (SVAR). Empirical evidence shows that dollarization index has been on the increase in Nigeria since 1994, despite stable and low inflation and interest rate. Results of the cointegration show long run equilibrium among dollarization, inflation and interest rate. The Granger causality test reveals that there is a unidirectional relationship from dollarization to inflation in Nigeria. This suggests that policies that aim to reduce inflation in Nigeria must include …

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Estimating Bull And Bear Betas For The Nigerian Stock Market Using Logistic Smooth Threshold Model, Mohammed T. Tumala, Olaoluwa S. Yaya Jun 2015

Estimating Bull And Bear Betas For The Nigerian Stock Market Using Logistic Smooth Threshold Model, Mohammed T. Tumala, Olaoluwa S. Yaya

CBN Journal of Applied Statistics (JAS)

In this paper, we examine the Nigerian stock market sector returns and estimate the bull and bear betas using the Logistic Smooth Threshold Market (LSTM) model. The LSTM model specification follows from the linear Constant Risk Market (CRM) model. We estimate the LSTM model for the overall sampled daily time series from 2001 to 2012 using the conditional nonlinear least squares approach. We also estimate the model for each of the All share Index (ASI) sub-samples taking the time of financial crisis (February 2008) as the break point. The results show the significant correlations of stocks returns in each market …

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Consumer Confidence Indicators And Economic Fluctuations In Nigeria, Adamu Ibrahim, Sani Bawa, Ismaila S. Abdullahi, Chizoba E. Didigu, Sani S. Mainasara Jun 2015

Consumer Confidence Indicators And Economic Fluctuations In Nigeria, Adamu Ibrahim, Sani Bawa, Ismaila S. Abdullahi, Chizoba E. Didigu, Sani S. Mainasara

CBN Journal of Applied Statistics (JAS)

Consumer confidence indicators(CCI) serve as a veritable tool for providing useful information to policy makers, forecasters and the general public. Recent studies indicated the possibility of a slowdown in output, resulting from the pessimism of consumers in their expectations about the general state of the economy, even if their pessimism were not based on economic fundamentals. This study evaluated the predictive ability of the CCI in forecasting economic fluctuations in Nigeria. The study applied the Granger Causality tests, impulse response functions and forecast error variance decomposition to assess if CCI granger causes output growth as well as ascertain the magnitude …

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Do Survey-Based Expectations Mimic Inflation In Nigeria?, Ibrahim Adamu Jun 2015

Do Survey-Based Expectations Mimic Inflation In Nigeria?, Ibrahim Adamu

CBN Journal of Applied Statistics (JAS)

Survey-based expectations are mostly used by monetary authorities for inflation forecasts and evaluation of the credibility of their inflation fighting policies. It is also an important link in the monetary policy transmission mechanism. This study examined the predictive ability of business expectations survey (BES) inflation index on movements of inflation as well as the relationship between BES indicators and selected macroeconomic indicators in Nigeria. The study employed the modified Kaminsky-Reinhart (KLR) Signal Approach, correlation and trend analyses. The results of the modified KLR approach showed that BES inflation index predicts inflation rate only between 5 to 20 per cent threshold, …

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Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2013, Ajibola I. Olufemi, Babatunde S. Omotosho Jun 2015

Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2013, Ajibola I. Olufemi, Babatunde S. Omotosho

CBN Journal of Applied Statistics (JAS)

The survey of foreign assets and liabilities of enterprises in Nigeria was conducted in 2014 to determine the 2013 stock of foreign assets/liabilities of Nigerian enterprises, as well as receiving sectors and origination/destination regions. The survey collected relevant information from 740 enterprises, and analysis of survey returns indicated that the total private foreign liabilities as at end-2013 was N12, 639.27 billion up by 5.08 per cent above its level in 2012. Of this total, 96.7 per cent was in the form of foreign direct investments, while foreign portfolio investments and other capital flows accounted for 0.4 and 2.9 per cent, …

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Technical Notes On Balance Of Payments Compilation And Analysis: The Case Of Nigeria, Ubong S. Udoette Jun 2015

Technical Notes On Balance Of Payments Compilation And Analysis: The Case Of Nigeria, Ubong S. Udoette

CBN Journal of Applied Statistics (JAS)

This paper discusses some technical issues in Balance of Payment compilation and analysis. It summarized major components of the BOP statistics, the various account balances as well as the interrelationship between them and other macroeconomic aggregates. It goes further to discuss data related issues in the compilation of Nigeria’s BOP statistics with the aim of providing better insight to future/new compilers, policy and other economic analysts.

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The Invisible Hand Of Short Selling: Does Short Selling Discipline Earnings Management?, Massimo Massa, Bohui Zhang, Hong Zhang Jun 2015

The Invisible Hand Of Short Selling: Does Short Selling Discipline Earnings Management?, Massimo Massa, Bohui Zhang, Hong Zhang

Research Collection Lee Kong Chian School Of Business

We hypothesize that short selling has a disciplining role vis-a-vis firm managers that forces them to reduce earnings management. Using firm-level short-selling data for thirty-three countries collected over a sample period from 2002 to 2009, we document a significantly negative relationship between the threat of short selling and earnings management. Tests based on instrumental variable and exogenous regulatory experiments offer evidence of a causal link between short selling and earnings management. Our findings suggest that short selling functions as an external governance mechanism to discipline managers.

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Dr. Ishrat Hussain - Ceo Summit Speech, Ishrat Husain Dr. May 2015

Dr. Ishrat Hussain - Ceo Summit Speech, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Extracted from a speech delivered at CEO Summit Asia 2014, the piece discusses thought leadership in the knowledge economy, urging Pakistan to celebrate successes rather than dwell on negativity. The speaker highlights the value of investment in skills, science and technology, citing South Korea's transformation through such investment. He also stresses the need for stronger governance structures and greater collaboration among Pakistani professionals and institutions.

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2014 Nonresident Visitation, Expenditures, And Economic Impact Estimates: Estimates By Full Year, Quarters, Trip Purposes, And International Visitors., Kara Grau May 2015

2014 Nonresident Visitation, Expenditures, And Economic Impact Estimates: Estimates By Full Year, Quarters, Trip Purposes, And International Visitors., Kara Grau

Institute for Tourism and Recreation Research Publications

A collection of 2014 full year and quarterly estimates of nonresident visitation, expenditures by nonresident travelers, and economic impact estimates, including expenditures by purpose of trip, airport of arrival, and international visitors.

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Shaky Foundations: The Tradeoff Between Structural Safety And Financial Security, Grace Daly May 2015

Shaky Foundations: The Tradeoff Between Structural Safety And Financial Security, Grace Daly

Undergraduate Honors Theses

This paper investigates the relationship between the financial positions of a subcontractor and their performance on the construction site. Financial default by a subcontractor can cost general contractors additional time and expense, as they try to find replacements and keep the projects on schedule. This highlights the importance of vetting subcontractors before awarding a bid. This study attempts to bridge the gap between the subjective nature of construction quality and the more technical financial analysis in determining the overall quality of subcontractors. Safety measures are also incorporated into performance ratings. Data is collected for the years 2009 through 2014 from …

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The Relevance Of Economic, Institutional And Cultural Determinants For Venture Capital Investments. A Us-Europe Comparison., Nadja Benes May 2015

The Relevance Of Economic, Institutional And Cultural Determinants For Venture Capital Investments. A Us-Europe Comparison., Nadja Benes

Master's Theses

This study analyzes the determinants of early-stage VC investments by identifying characteristics in the economic, institutional, as well as cultural framework that could explain the diverging levels of early-stage VC investments across countries. Data was assembled for 16 countries during the period from 1995 until 2013. The results indicate that countries that are more open to trade are associated with higher levels in early-stage venture capital. A higher unemployment rate negatively affects a country’s level of early-stage VC funds. Higher R&D expenditures as a proxy for the technological and innovation capacity in a country as well as a higher value …

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Baby Names As A Determinant Of Cultural Assimilation In The Continental And Non-Continental United States, Paige M. Harrison May 2015

Baby Names As A Determinant Of Cultural Assimilation In The Continental And Non-Continental United States, Paige M. Harrison

Mahurin Honors College Capstone Experience/Thesis Projects

Using baby names a signal for cultural attitudes has been studied before several times. This paper looks at trends in baby names across the United States over five decades, and then uses these trends to look at the quasi-natural experiment of Alaska and Hawaii becoming states and accepting the dominant United States culture as their own. Both Alaska and Hawaii have their own indigenous cultures which could influence their cultural assimilation to the United States, this paper uses baby names to measure this assimilation. By using vector auto-regressions and the time period between 1960 and 2013 this paper determines the …

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The Effects Of Quantitative Easing In The United States: Implications For Future Central Bank Policy Makers, Matthew Q. Rubino May 2015

The Effects Of Quantitative Easing In The United States: Implications For Future Central Bank Policy Makers, Matthew Q. Rubino

Senior Honors Projects, 2010-2019

The purpose of this thesis is to examine the effects of the Federal Reserve’s recent bond buying programs, specifically Quantitative Easing 1, Quantitative Easing 2, Operation Twist (or the Fed’s Maturity Extension Program), and Quantitative Easing 3. In this study, I provide a picture of the economic landscape leading up to the deployment of the programs, an overview of quantitative easing including each program’s respective objectives, and how and why the Fed decided to implement the programs. Using empirical analysis, I measure each program’s effectiveness by applying four models including a yield curve model, an inflation model, a money supply …

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Critical Analysis Of The Confounding Of Clinical Trials, Eleanor L. Jordan May 2015

Critical Analysis Of The Confounding Of Clinical Trials, Eleanor L. Jordan

Senior Honors Projects, 2010-2019

To provide a comprehensive overview of issues confounding clinical trials, Chapter 2 will discuss the parties involved in the research and development of medications and detail the individual responsibilities of each. However, the ambition of these individual entities often produces a conflict of interest especially when profits are involved [9]. Organizations and individuals such as insurance corporations, pharmaceutical companies (sponsors), pharmacy benefit managers, investigators (doctors/medical professionals) and most importantly patients, are all involved in carrying out clinical research and have definitive responsibilities they are required to follow for unbiased results. However, many rules are overlooked and biases go unrecorded causing …

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Mochtar Riady [Indonesia, Banker], Mochtar Riady May 2015

Mochtar Riady [Indonesia, Banker], Mochtar Riady

Digital Narratives of Asia

Founder and Chairman of Lippo Group, Mochtar Riady gained the moniker "Magic Man of Banking" because of his ability to turn around and grow several of Indonesia's private banks, the most notable being Bank Central Asia (BCA). But his 15 years in BCA wasn't all smooth sailing. He speaks to DNA about his challenges in BCA, which saw him dealing with sensitive relationships with the Suharto government, as well as the firing of his own son for Forex speculation.

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Firing Threats: Incentive Effects And Impression Management, Brice Corgnet, Roberto Hérnan-Gonzalez, Stephen J. Rassenti May 2015

Firing Threats: Incentive Effects And Impression Management, Brice Corgnet, Roberto Hérnan-Gonzalez, Stephen J. Rassenti

Economics Faculty Articles and Research

We study the effect of firing threats in a virtual workplace that reproduces features of existing organizations. We show that organizations in which bosses can fire up to one third of their workforce produce twice as much as organizations for which firing is not possible. Firing threats sharply decrease on-the-job leisure. Nevertheless, organizations endowed with firing threats underperformed those using individual incentives. In the presence of firing threats, employees engage in impression management activities to be seen as hard-working individuals in line with our model. Finally, production levels dropped substantially when the threat of being fired was removed, whereas on-the-job …

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Who Pays For Music?, Meg Aman May 2015

Who Pays For Music?, Meg Aman

Honors Projects in Management

The purpose of this capstone project was to determine the attributes of consumers that pay for music, specifically music streaming services. The recent decline in current individual track sales and the increase in the number of streamed songs, highlights the relevance of this topic. The increasing popularity in music streaming has caused much contreversy in the music industry. Many artists are unhappy with the low revenue they receive from songwriting royalties from these streaming services that offer a free platform. Artists are not the only ones who need consumers to pay for music, the music streaming sites that provide free …

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Robust Determinants Of Bilateral Trade, Marianne Baxter, Jonathan Hersh May 2015

Robust Determinants Of Bilateral Trade, Marianne Baxter, Jonathan Hersh

Economics Faculty Articles and Research

What are the policies and country-level conditions which best explain bilateral trade flows between countries? As databases expand, an increasing number of possible explanatory variables are proposed that influence bilateral trade without a clear indication of which variables are robustly important across contexts, time periods, and which are not sensitive to inclusion of other control variables. To shed light on this problem, we apply three model selection methods – Lasso reguarlized regression, Bayesian Model Averaging, and Extreme Bound Analysis -- to candidate variables in a gravity models of trade. Using a panel of 198 countries covering the years 1970 to …

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Community Development In Mozambique: Evaluating Impact Assessment Methodologies, Carol Ann Farmer May 2015

Community Development In Mozambique: Evaluating Impact Assessment Methodologies, Carol Ann Farmer

Economics Undergraduate Honors Theses

This paper is an analysis of an impact assessment conducted by University of Arkansas students and finalized by Abby Davidson during the 2014 Community Development in Mozambique study abroad program. The assessment was based on a developmental poultry organization in the Nampula region. In order to evaluation the assessment several theories of impact assessment were utilized. Construction of a proper counterfactual, the mitigation of selection bias, appropriateness of impact indicators, and validity were all used to consider the methodologies employed in the aforementioned assessment. Based on these criteria it was found that The Impact of poultry in Northern Mozambique failed …

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Inflation Targeting And Dollarization In Bolivia, Hugo Vaca Pereira Rocha May 2015

Inflation Targeting And Dollarization In Bolivia, Hugo Vaca Pereira Rocha

Economics Undergraduate Honors Theses

This thesis attempts to test the effectiveness of the IT regime as a nominal anchor (reference for monetary policy) to the Bolivian Central Bank through the use of the Taylor rule. In order to use the Taylor Rule, it will be necessary to collect data from the monetary aggregates, interest rates (preferably US interest rates since the boliviano is pegged to the US dollar), and Bolivian Central Bank international reserves. Depending upon the results of the coefficients found it would be possible to make some initial conclusions. The reason why this amount of data will be required is that this …

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Risk Misperception And Selection In Insurance Markets: An Application To Demand For Cancer Insurance, David S. Hales May 2015

Risk Misperception And Selection In Insurance Markets: An Application To Demand For Cancer Insurance, David S. Hales

UNLV Theses, Dissertations, Professional Papers, and Capstones

Spinnewijn (2013) posits that optimism about risk and the efficacy of risk-reducing effort could cause selection in insurance markets. We test for this using a survey of 474 subjects’ demand for hypothetical cancer insurance. We elicit perceptions of baseline cancer risk and control efficacy and combine these with subject-specific cancer risks predicted by the Harvard Cancer Risk Index to develop measures of baseline and control optimism. We find that only 23 percent of our subjects would purchase a fair insurance contract aligned to their true risk type. Of these subjects, 94 percent also overinvest in prevention, leading to advantageous selection.

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Transforming For The Future: The New Economic Driver For The Las Vegas Tourism Industry, Kwangbok Lee May 2015

Transforming For The Future: The New Economic Driver For The Las Vegas Tourism Industry, Kwangbok Lee

UNLV Theses, Dissertations, Professional Papers, and Capstones

Tourism transformation has recently become a key strategy in today's competitive business environment, as continued rejuvenation is required for a tourism destination to succeed over time. However, transformation can prove problematic for many emerging tourism destinations, which suffer from a lack of long-term decision-making tools and leadership from institutions at a local level. Therefore, this paper aims to use the theoretical framework of transformation theory—particularly the institution dimension— to demonstrate that Las Vegas’ ongoing transformative shift over the last 80 years from a mining town to a gaming destination, and then, to a multi-dimensional tourist attraction, has been largely successful …

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The Economic And Social Effects Of Casino Development In Macau, Christopher Benton May 2015

The Economic And Social Effects Of Casino Development In Macau, Christopher Benton

UNLV Theses, Dissertations, Professional Papers, and Capstones

This paper explores the economic impacts that took place in Macau after the gaming monopoly ended in 2002, as well as the resulting social effects to the local region. The broader research on casino gaming was analyzed, and was then compared to the social and economic impacts that took place in Macau. Specifically, economic indicators such as employment and GDP were evaluated, along with social issues such as problem gambling, crime, and educational attainment. Many countries, specifically Asian countries, are now entertaining the idea of introducing casinos to their local communities in an effort to try and replicate the type …

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The Effects Of Gaming Taxation On Capital Investment In Gaming Businesses, Jeremy Pollock May 2015

The Effects Of Gaming Taxation On Capital Investment In Gaming Businesses, Jeremy Pollock

UNLV Theses, Dissertations, Professional Papers, and Capstones

Microeconomic theory generally supports the idea of an inverse relationship between taxes and capital investment. The gaming industry however does not operate on a free market equilibrium of supply and demand. Regulation and taxation of this industry can distort competitive forces and, as a result, investment decisions. Forces are described herein which either strengthen or weaken this inverse relationship, as well as how they affect the value of the limited number of casino operating licenses which states grant. Higher tax rates are generally shown to result in small-scale properties, which cater to a narrow base of consumers. In contrast, low …

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The Affordable Care Act: Five Years Later, Andrew Dana Izatt May 2015

The Affordable Care Act: Five Years Later, Andrew Dana Izatt

Undergraduate Honors Capstone Projects

The challenges facing the American health care system are well known and manifold. The United States pays substantially more for its health care than any other developed, industrialized nation. Per capita health care spending in 2012 was $8,745, up from $356 in 1970 without marked improvements in life expectancy, quality of life, or outcomes. But despite all of our health spending, large portions of our population go without health insurance. Being uninsured carries real consequences. A report published in the American Journal of Public Health, by researchers at Harvard Medical School, using statistics from the Centers for Disease Control and …

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The Political Economy Of Going Global: Understanding The Determinants Of Chinese Foreign Direct Investment In The Middle East And Africa, Majid Shirali May 2015

The Political Economy Of Going Global: Understanding The Determinants Of Chinese Foreign Direct Investment In The Middle East And Africa, Majid Shirali

UNLV Theses, Dissertations, Professional Papers, and Capstones

This study seeks to explain the motivating factors behind Chinese foreign direct investment (FDI) patterns to the Middle East and Africa through a quantitative framework that utilizes a pooled cross-sectional time-series data set that covers 57 countries from 2003-2010. Prior research on the issue has hypothesized that China attempts to use external FDI to developing areas to promote national interests and help sustain economic growth. However, there has been an almost exclusive focus on economic determinants while generally ignoring political variables. The approach in this project attempts to fill this scholarly void by employing a broad array of independent variables …

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Employment Duration And Match Quality Over The Business Cycle, Ismail Baydur, Toshihiko Mukoyama May 2015

Employment Duration And Match Quality Over The Business Cycle, Ismail Baydur, Toshihiko Mukoyama

Research Collection School Of Economics

This paper studies the cyclical behavior of employment duration using data from the National Longitudinal Survey of Youth 1979 cohort. We estimate a proportional hazard model with competing risks, distinguishing different types of separations. A higher unemployment rate at the start of an employment relationship increases the probability that the worker quits to take or look for another job, but it decreases the probability that the firm fires the worker. The net effect of these opposing forces on the overall duration of the employment is negative, but small, implying that match quality is weakly pro-cyclical. We also build a simple …

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Choosing The Right Steps: Management Decisions Of Dance Businesses, Jessica B. Rosina Apr 2015

Choosing The Right Steps: Management Decisions Of Dance Businesses, Jessica B. Rosina

Business and Economics Honors Papers

Fundamental dance researchers have found that dancers have some of the lowest Human Capital returns. Today, the average dancer has a median pay of $15.87. Only six percent of public schools offer dance as a part of their curriculum. This situation poses a threat to the transmission of culture in our country and will have negative impacts. Children receive little to no dance education in public schooling, leaving private dance education organizations as the only option left. Using a sample of 100 privately owned studios in the tristate area, business decisions will be analyzed to uncover the impact on enrollment.

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Did Antebellum Illinois Free Banks Take Undue Risk With Their Bond Portfolios?: An Analysis Of Decision-Making Prior To The Civil War, Scott N. Clayman Apr 2015

Did Antebellum Illinois Free Banks Take Undue Risk With Their Bond Portfolios?: An Analysis Of Decision-Making Prior To The Civil War, Scott N. Clayman

Business and Economics Honors Papers

Free banks in Illinois could issue bank notes backed by state or U.S. bond collateral. A decline in bond prices as the Civil War approached resulted in banks being unable to redeem their noteholders in gold specie and subsequently resulted in bank failures. Previously economic historians believed that failures of free banks were due to wildcat banking rather than the portfolio allocation of free banks. Over time, other researchers have found that banks that took greater ex ante risk prior to the failure were more likely to fail. There were other price declines during the 1850s, in particular the Panic …

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