Business Commons^™

The Effect Of U.S. State Taxes On State Economic Prosperity, Casey Dainsberg

Political Science Theses and Capstones

Policy makers today are faced with trying to create solutions for economic troubles that become increasingly more complex and foreboding. Tax cuts and tax hikes are proposed and considered as possible solutions to various economic problems. However, the question still remains regarding which policies are most effective. The purpose of this research is to asses these competing claims. It seeks to find evidence that will shed light on one of these views. I have done this by accumulating tax and economic data from the fifty U.S. States between the years 2001-2009. Previous research has concluded that taxes do affect the …

Le Développement Durable Comme Mode De Prévention Des Risques Energétiques : Une Approche Par Les Capacités D’Absorption. Le Cas De La Voiture Electrique Chez Renault, Sylvaine Castellano, Adnane Maâlaoui, Judith Schrempf-Stirling

Management Faculty Publications

Sustainability — a way to prevent energy-related risks — is the buzzword of the last decade. This trend demands radical rethinking on how society lives, consumes and produces. Herein, we focus on electric cars, which is the result of sustainable processes and initiatives in the car industry. The case of Renault illustrates how the firm based its sustainable strategy on its absorptive capacities.

A Common Economic Space For The West African Monetary Zone (Wamz): Imperatives For Financial Systems Development, A. O. Adenuga, K. K. Ogunjuiba, M. E. Obiechina

Bullion

The international financial turmoil of the 21 century has provoked much reflection and analysis within the international community on ways to strengthen the international financial architecture. It left behind important lessons, while exposing the limitations of individual country policy frameworks for preventing a systemic crisis. However, the issue of whether a common economic space is feasible within the West African Monetary Zone is still doubtful, given current efforts towards monetary union in Sub-Saharan Africa. This paper adopts an empirical review approach, identifying benefits and key constraints to a common economic space in the WAMZ vis-à-vis macroeconomic development in the WAMZ, …

Long-Term Economic Direction And Consistency Of Economic Policies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

China, India and Brazil are three emerging countries in different parts of the globe with differences in culture, history and politics but have done extremely well in terms of economic development in the recent years. Pakistan on the other hand with similar culture, institutions and history as India but different political evolution has not done so well on a comparable basis. Pakistan and India have shared the same history, culture and politics for many centuries. Politicians in both these countries behave in not too different ways and are known for their penchant for self aggrandizement and their own interest maximization. …

Cross Border Business Cycle Impacts On El Paso Real Estate: 1970-2003, Gokce Kincal, Thomas M. Fullerton Jr., James H. Holcomb, Martha Patricia Barraza De Anda

Border Region Modeling Project

There is comparatively little empirical evidence regarding the impacts of cross border business cycle fluctuations on metropolitan housing markets located near international boundaries. This study examines the impacts of economic conditions in Mexico on sales of existing single-family houses in El Paso, Texas. Anecdotal evidence suggests that these impacts are fairly notable. Annual frequency data from The University of Texas at El Paso Border Region Modeling Project are used to test this possibility. Results indicate that solid empirical evidence of such a linkage is elusive and additional analysis is warranted.

The Silver Spark For Nevada, Walt Borland, James A. Croce, Richard Seline

Publications (E)

The SILVER Spark for Nevada: Sustainable Innovation Leading a Vital Economic Renaissance

Nevada. A State of stark contrasts, with historic booms and devastating busts experienced throughout its modern history. A State frequently forced to reinvent itself as ever-evolving circumstances have demanded. A State that has been driven to the edge time after time and, yet again and again, has managed to discover another way to prosper. A State that now finds itself in a precarious position as the “Great Recession” hit it harder than any other and has left it struggling to recover.

As you will conclude by reading The …

The Unintended Effects Of The Sarbanes-Oxley Act, Vidhi Chhaochharia, Clemens A. Otto, Vikrant Vig

Research Collection Lee Kong Chian School Of Business

The Sarbanes-Oxley Act (SOX) was passed in the wake of several scandals that rocked corporate America in 2001 and 2002. The objective behind SOX was to improve corporate governance by improving accounting disclosures. Compliance with Section 404 is considered by many to be the most costly requirement of SOX and has been argued to be a disproportionate burden for small firms. Consequently, firms with a public float below $75 million were granted several exemptions from compliance. We document an unintended effect of these exemptions: a weakening of corporate governance through a weakening of the market for corporate control.

2009 Pay And Pension Commission Report, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The 2009 Pay and Pension Commission (PPC) Report is a major departure from the previous reports in so far as it examines compensation reforms as part of the overall reforms of the whole value china of human resource policies of the government. The Report’s findings are based on the basic premise that the channel of economic growth filtering down effectively to the poor and less privileged is a function of public sector governance – policy making, regulation, implementation of projects and programs, and delivery of basic services. Government has therefore, a critical role to play not by controlling the commanding …

Some Perspectives On And Examples Of Business Education Collaboration For Workforce Development, Kevin Hollenbeck

Presentations

No abstract provided.

Perceptions, Behaviors & The Economic Impact Of Tourism In Curacao, Robertico Croes, Manuel A. Rivera, Kelly Semrad

Dick Pope Sr. Institute Publications

The Curacao Tourist Board commissioned the Dick Pope Sr. Institute for Tourism Studies at the Rosen College of Hospitality Management at the University of Central Florida to conduct an analysis of tourists' perceptions with regard to the Curacao tourism product, the tourist profile, and the spending behavior of tourists frequenting the island. In addition, the CTB requested that the DPI provided recommendations to the CTB regarding the enhancement of the tourist data collection process, the data analysis, and the re-design of the Tourist Exit Survey itself. Of the 3,390 survey respondents assessed according to year (2007 = 1,938; 2008 = …

Drivers Of Globalization, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Having listened to distinguished luminaries such as Prof Ishwar Dayal there is hardly very much I can add or contribute to the discourse initiated this morning. But as a student of economics I know that I should stick to my comparative advantage. What I therefore propose to do this afternoon is to spell out what I consider are the main Drivers of Globalization. I would then argue that unless we understand those Drivers of Globalization we cannot have a picture of what the firms or business - individually and collectively - are going to look like in the future.

Conditioning The Capital Asset Pricing Model To Incorporate Macro-Economic Based Variables, Maria Casandra Rusti

Whittier Scholars Program

Time variations in expected returns are related to the business cycle. Evidence shows that expected returns are higher in economic recessions, since investors are less willing to hold risky assets, and lower in economic booms. This suggests that time variations in equity premiums should be accounted for by variables related to the business cycle. Being able to model equity premiums helps investors optimize their portfolios. Therefore, we develop a conditioning macroeconomic variable that captures time variation in risk premium across business cycles and we test its predictive power for future market returns. More specifically we look at the following macro-economic …

The Relationship Between Company Size And Ceo Pay, Kevin F. Hallock

Economics Faculty Publications

The link between the size of the company and the pay of the CEO is one that is nearly impossible to make go away. One measure of the company-size-to-CEO-pay relationship is called elasticity by economists. It turns out that we can estimate the CEO compensation elasticity with respect to firm revenue, and this number is around 0.3. That is, for a 1% increase in company size, CEO pay goes up by about one-third of 1%, or for a 10% increase in company size, CEO pay goes up by about 3%. The relationship between organization size and top executive pay in …

Explosive Behavior In The 1990s Nasdaq: When Did Exuberance Escalate Asset Values?, Peter C. B. Phillips, Yangru Wu, Jun Yu

Research Collection School Of Economics

A recursive test procedure is suggested that provides a mechanism for testing explosive behavior, date stamping the origination and collapse of economic exuberance, and providing valid confidence intervals for explosive growth rates. The method involves the recursive implementation of a right-side unit root test and a sup test, both of which are easy to use in practical applications, and some new limit theory for mildly explosive processes. The test procedure is shown to have discriminatory power in detecting periodically collapsing bubbles, thereby overcoming a weakness in earlier applications of unit root tests for economic bubbles. An empirical application to the …

State Of Ohio: Insurance Industry And Occupational Highlights, Ohio Board Of Regents, Wright State University, Center For Urban And Public Affairs

Economic Development

Over 7,000 business establishments in Ohio employ 120,626 people in the Insurance Industry. Employment is expected to grow 1% a year to 2015, adding 6,323 workers, outpacing the national growth rate. In an analysis of the top ten states by employment size and industry concentration, Ohio is expected to grow at the second fastest pace.

Every year, the Insurance Industry has roughly 2,000 job openings for new and replacement jobs. The core of the industry is found in five occupations: insurance sales agents; claims adjusters, examiners, and investigators; insurance underwriters; insurance appraisers, auto damage; and actuaries. For those five occupations, …

Nevada 2.0 Program And Speakers, University Of Nevada, Las Vegas

Nevada 2.0: New Economies for a Sustainable Future

Nevada 2.0: New Economies for a Sustainable Future was held on January 7, 2011, to explore opportunities to diversify Nevada’s economy by examining similar efforts in nearby states. It included presentations by guest speakers from Salt Lake City, Denver, Phoenix, and Dallas, as well as interactive panel discussions with Nevada business and political leaders to hone in on the next steps Nevada should take to move forward on new business expansion. For years, Nevadans have understood the need to diversify the state’s economy beyond tourism, construction, and mining. Yet, Nevada enjoyed an extended boom from simply enlarging its base economy. …

Efficiency Of The Welfare State: A Comparative Approach Using Data Envelopment Analysis, Jekabs Bikis

Faculty Publications - College of Business

As governments continue to evolve over the past century or so in their perceived role of providing economic security for their populations, a ubiquitous yet ill-defined concept of the welfare state is increasingly taking center stage in political and economic debates. With fiscal crises looming over the horizon in many parts of the world, the fingers of blame point with greater frequency to the welfare state as the entity which is contributing more to fiscal problems than to economic solutions. Reformation of the welfare state is rapidly becoming more likely and more urgent and this study proposes one mechanism for …

The Economic Value Of A Sustainable Supply Chain, Robert Mefford

Finance

The economic rationale to operate a global supply chain in a sustainable manner is developed. Arguments are made based on marketing, finance, and production theories that by engaging in socially responsible behavior the firm will increase sales, decrease costs, reduce financial risk, and increase profits which ultimately will increase returns to the firm’s shareholders. A model is developed of the mechanism by which modern production methods such as lean production and quality management result in sustainable corporate behavior which, in the long run, translates into higher stock valuations. The production effects cause marketing and financial risk effects that are complementary, …

Mergers And Beliefs, Todd A. Brown, Thomas Zorn, Geoff Freissen

Faculty Publications

We study the combined effects of managerial optimism and market overvaluation on merger premiums and the chosen form of payment. Our empirical results are consistent with market overvaluation and the target manager‘s optimism as having the most influence on mergers. The observed form of payment corresponds to the acquiring manager‘s preferences, suggesting that the acquiring manager dictates the method of payment. Lastly, our model demonstrates why cash mergers are more likely to be hostile, and provides an explanation for why a combination of cash plus stock may be optimal.

Do Major League Baseball Hitters Come Up Big In Their Contract Year?, Heather M. O'Neill, Matthew J. Hummel

Business and Economics Faculty Publications

In sports, especially baseball, there is a lot of talk about contract year performance. Beginning in spring training and continuing throughout the season, sports journalists and fans converse about how players in the last year of their contract will perform. Experts in the media, often ex-baseball players themselves, speculate contract year players will have break-out seasons in order to secure a better contract in upcoming contract negotiations. This leads to the question: do baseball players increase their effort and performance during their contract year to increase the value of their next contract?

Winning The Future: Strategic Plan For The Development Of Tourism, Robertico R. Croes, Manuel A. Rivera, Abraham Pizam, Eric D. Olson, Seung Hyan Lee, Yun Ying Zhong

Dick Pope Sr. Institute Publications

Aruba has developed and positioned its tourism sector as one of the premier destinations in the Caribbean over the past twenty-five years. The push towards tourism development was primarily aimed to create jobs and to enhance the quality of life of its population. The results have been astounding: not only has the island successfully transformed from an industrial-based economy to a tourist- and service-based economy, but the island now boasts one of the highest living standards in the Caribbean. The prosperity on the island is broadly shared among Arubans. Tourism has become an engine of economic growth, totaling U.S.$2.3 billion …

International Comparisons Of Bank Regulation, Liberalization, And Banking Crises, Puspa Amri, Apanard P. Angkinand, Clas Wihlborg

Business Faculty Articles and Research

Purpose: The recurrence of banking crises throughout the 1980s and 1990s, and in the more recent 2008-09 global financial crisis, has led to an expanding empirical literature on crisis explanation and prediction. This paper provides an analytical review of proxies for and important determinants of banking crises − credit growth, financial liberalization, bank regulation and supervision.

Design/Methodology/Approach: The study surveys the banking crisis literature by comparing proxies for and measures of banking crises and policy-related variables in the literature. Advantages and disadvantages of different proxies are discussed.

Findings: Disagreements about determinants of banking crises are in part …

Indiana State University Financial Report 2011, Indiana State University

Financial Reports

No abstract provided.

Will Work': The Role Of Intellectual Property In Transitional Economies -- From Coal To Content, Megan M. Carpenter

Law Faculty Scholarship

The development and exploitation of intellectual property, and participation in the global information economy, are not dependent upon geography. It can take place from anywhere, from the inside of an empty factory in Detroit, to a small country road, nestled between the rhododendron and the river. From the R&D lab at a university, to a barren plain in New Mexico. To move from coal to content, we must foster a dynamic and profitable environment for entrepreneurship, through a supportive and robust university community, through state legislation and institutional support and through effective utilization of intellectual property laws. Intellectual property and …

A Moral Contractual Approach To Labor Law Reform: A Template For Using Ethical Principles To Regulate Behavior Where Law Failed To Do So Effectively, Zev J. Eigen, David S. Sherwyn

Faculty Working Papers

If laws cease to work as they should or as intended, legislators and scholars propose new laws to replace or amend them. This paper posits an alternative—offering regulated parties the opportunity to contractually bind themselves to behave ethically. The perfect test-case for this proposal is labor law, because (1) labor law has not been amended for decades, (2) proposals to amend it have failed for political reasons, and are focused on union election win rates, and less on the election process itself, (3) it is an area of law already statutorily regulating parties' reciprocal contractual obligations, and (4) moral means …

Animal Welfare: Perceptions Of Nonmetropolitan Nebraskans: 2011 Nebraska Rural Poll Results, Rebecca J. Vogt, Randolph L. Cantrell, Bradley Lubben, Connie Reimers-Hild

Nebraska Rural Poll

Almost all rural Nebraskans recognize the importance of livestock and poultry production to the state’s economy and most rural Nebraskans are familiar with livestock care practices. In fact, many rural Nebraskans have experience raising beef cattle, poultry and swine. They have less experience with dairy production.

Most rural Nebraskans believe animal welfare means providing adequate exercise, space and social activities for the animals in addition to food, water and shelter. However, the vast majority of rural Nebraskans agree that animal welfare means at least providing adequate food, water and shelter to livestock animals.

Most rural Nebraskans trust livestock farmers and …

Quality Of Life In Nonmetropolitan Nebraska: 2011 Nebraska Rural Poll Results, Rebecca J. Vogt, Randolph L. Cantrell, Bradley D. Lubben, Connie Reimers-Hild

Nebraska Rural Poll

Most rural Nebraskans are positive about their current situation. And, they continue to be generally positive about their future situation. Over one-half (52%) of rural Nebraskans think they are better off than they were five years ago and just under one-half (45%) think they will be better off ten years from now.

Certain groups remain pessimistic about their situation. Persons with lower household incomes, older persons, persons with lower educational levels and persons who are divorced or separated are the groups most likely to be pessimistic about the present and the future.

When asked if they believe people are powerless …

Reversing Ethiopia's Intellectual Capital Flight, Asayehgn Desta

Collected Faculty Scholarship

Recently, the Ethiopian Government drafted a five year plan (2010 to 2015) to achieve the country’s economic growth. When Ethiopia’s Growth and Transformation plan was analyzed in light of the new growth theory and traced historically in terms of the push and pull factors that contributed to the flight of skilled Ethiopians to more advanced countries, it was found that over the years Ethiopia has funded the education of its nationals only to see them contributing to the growth of developed countries. Being stripped of skilled human capital, leaving it ill prepared to face globalization and survive in the new …

Firm And Industry Effects In Accounting Versus Economic Profit Data, Matthew J. Holian, Ali M. Reza

Faculty Publications

This article presents estimates of firm and industry fixed-effects on profit rates for large US corporations, using both Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, as well as simple (unadjusted) accounting measures as the dependent variable. We find that the improvement in explanatory power of the fixed-effect model is substantially greater when using EVA than has been documented with alternative measures.

Community Life In Nonmetropolitan Nebraska: Current Perceptions And Future Strategies: 2011 Nebraska Rural Poll Results, Rebecca J. Vogt, Randolph L. Cantrell, Bradley D. Lubben, Connie Reimers-Hild

Nebraska Rural Poll

By many different measures, rural Nebraskans are positive about their community. Many rural Nebraskans rate their community as friendly, trusting and supportive. Most rural Nebraskans also say it would be difficult to leave their community. In addition, most rural Nebraskans disagree that their community is powerless to control its future.

Differences of opinion exist by the size of their community. Residents of smaller communities are more likely than residents of larger communities to rate their community favorably on its social dimensions and to have positive sentiments about their community. However, residents of larger communities are more likely than residents of …