Business Commons^™

Banking On Sbi : Interview With Dipankar Basu, Ashok Thampy, Vivek Moorthy

IIMB Management Review

No abstract provided.

Investing In Hedge Funds: Risks, Returns And Pitfalls, Dong Hong, David Kuo Chuen Lee, Kok Fai Phoon

Research Collection Lee Kong Chian School Of Business

Hedge funds are collective investment vehicles fast becoming popular with high net worth individuals as well as institutional investors. These are funds that are often established with a special legal status that allows their investment managers a free hand to use derivatives, short sell, and exploit leverage to raise returns and cushion risk. Given that that they have substantial latitude to invest, it is instructive to examine the performance of hedge funds compared to other forms of managed funds. This paper provides an overview of hedge funds and discusses their empirical risk and return profiles. It also poses some concerns …

The Search For Stock Market Bubbles: An Examination Of The Nyse Index, Andrew J. Economopoulos, Avinash G. Shetty

Business and Economics Faculty Publications

Many have put forth reasons why the stock market has climbed to new and unprecedented heights. Two reasons are examined: (1) investors are expecting prices to increase and are bidding up price irrationally; (2) investors have moved to a long-term strategy and are requiring a lower risk premium. For the latter reason, the rise in stock prices is due to a change in the fundamentals, and for the former reason the rise represents the classical bubble. The evidence indicates that risk preferences have changed while price momentum does not appear during bubble periods.

Efficiency And Performance Of Real Estate Investment Trusts (Reits): An Empirical Examination, Can Topuz

Doctoral Dissertations

This study has a threefold purpose. Its first objective is to investigate input and output efficiencies in the Real Estate Investment Trust (REIT) industry. Its second objective is to understand the impact of size, property share, loan production, debt ratio, property and geographic diversification, control and governance variables, overall risk, capital risk, growth rate, and management type on a number of efficiency measures, including profit, cost, allocative, technical, pure technical and scale efficiency. The third objective is to assess the impact of structural and regulatory changes in the industry on REITs' productivity, technology, and efficiency changes.

I have estimated the …

Analysis Of Small Business Lending In Texas, Steve A. Johnson, David A. Schauer, Dennis L. Soden

IPED Technical Reports

No abstract provided.

Financial Performance Of Insurance Companies Following Initial Public Offerings, Kulkanya Napompech

Doctoral Dissertations

The quality of insurance companies is a very significant societal issue. Policyholders pay premiums assuming indemnity of their potential losses. It is essential that an insurer be able to meet its contractual obligations when a loss occurs. An initial public offering provides an infusion of capital and an expansion of resources available to a firm. Thus, the objective of this study is to examine the financial and operating impacts of initial public offerings during 1980–2000 on insurance companies.

Chapter 2 examines changes in operating performance of property/casualty insurance companies following initial public offerings. I find that following initial public offerings, …

Ua12/2/1 Take Control, Wku Student Affairs

WKU Administration Documents

Special job fair edition of the College Heights Herald. Articles:

• Directory of Organizations & Opportunities
• Shinall, Dave. Economists Say Recession Over; Students Still Worried
• Nations, Amber. Internships, Co-ops Provide Experience
• Schoenbaechler, Danny. Resumes, Interview First Steps to Job
• Sewell, Beth. Job Availability Depends on Major
• Corcoran, Kate. Local Entrepreneurs Pass on Words of Wisdom
• Youngman, Sam. Columnist Encourages Students to Stay in School as Long as Possible
• Ford, Sam. Freshman Balances Job, Homework, Married Life
• Sigman, Amber. Many Students Choose Jobs in Bowling Green
• Shinall, Dave. Military Recruitment Sees Increase
• Roberts, Amy. Students Find Pros of Working On & Off …

Montana Vision Travel Research: 2002, Norma P. Nickerson

Institute for Tourism and Recreation Research Publications

Outlook for 2002 and Review of 2001.

Bankruptcy Law, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to commend the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its President, Mr. Iftikhar Ali Malik for organizing this Seminar. I consider this as a paradigm shift from the traditional way of the FPCCI presenting a Charter of demands to visiting government officials towards a joint collaborative way of solving practical problems facing the industry. This seminar represents an excellent initiative to explore an issue, which is of utmost significance for the business community. The State Bank has engaged in a continuous consultative process with the business leaders, exporters associations, chambers etc. We have …

Developing Sme Sector In Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The diagnosis of the problems afflicting the SME sector in Pakistan is very well established by now. The papers delivered at this seminar have presented both the qualitative and quantitative data and information about the existing contribution and future potential of the sector. The Government policy and priority to SMEs have been reiterated by the Chief Executive in his address on December 16, 1999. The key support institutions such as SME Bank and SMEDA have been restructured. It is now high time that we should move from the phase of analysis and diagnosis to action that can spur small and …

Comments By Governor State Bank Of Pakistan On The Paper Debt, Growth, Poverty In International Monetary System, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I agree with Prof. Mundell that economic theory does suggest that the best monetary system would involve the use of a single currency. The idea of the existence of money is to facilitate exchange and thus a single unit of account and medium of exchange is preferable over several such units. A single currency also reduces the transaction costs, search costs, computational costs and thus enhances the efficiency of resource use. On this basis, it is safe to deduce that the justification for a system of national currencies freely convertible at fixed exchange rate is self-evident. Empirically, the European Union …

Indiana State University Financial Report 2002, Indiana State University

Financial Reports

No abstract provided.

The Meaning Of Property Rights: Law Versus Economics? , Daniel H. Cole, Peter Z. Grossman

Scholarship and Professional Work - Business

Property rights are fundamentals to economic analysis. There is, however, no consensus in the economic literature about what property rights are. Economists define them variously and inconsistently, sometimes in ways that deviate from the conventional understandings of legal scholars and judges. This article explores ways in which definitions of property rights in the economic literature diverge from conventional legal understandings, and how those divergences can create interdisciplinary confusion and bias economic analyses. Indeed, some economists' idiosyncratic definitions of property rights, if used to guide policy, could lead to suboptimal economic outcomes.

Nova Southeastern University 2002 Annual Report, Nova Southeastern University

NSU Annual Reports

No abstract provided.

Nova Southeastern University 2002-2003 Annual Report, Nova Southeastern University

NSU Annual Reports

No abstract provided.

Ua3/9/2 1997-2002 The Beginning Of A Transformation, Wku President's Office

WKU Administration Documents

A review of the first five years of the Gary Ransdell administration of Western Kentucky University. The booklet contains information regarding academic reputation, enrollment, private support, Sponsored Programs, budget, physical infrastructure, extended campus, distance education, economic development, athletics and a strategic plan for 2002-2007.

A Comparison Of Auctions And Multilateral Negotiations, Charles J. Thomas, Bart J. Wilson

Economics Faculty Articles and Research

We compare first-price auctions to an exchange process that we term 'multilateral negotiations.' In multilateral negotiations, a buyer solicits price offers for a homogeneous product from sellers with privately known costs, and then plays the sellers off one another to obtain additional price concessions. Using the experimental method, we find that with four sellers, transaction prices are statistically indistinguishable in the two institutions, but with two sellers, prices are higher in multilateral negotiations than in first-price auctions. The institutions are equally efficient with two sellers, but multilateral negotiations are slightly more efficient with four sellers.

Effective Best Practices For School Boards: Linking Local Governance With Student Academic Success, Christine Thurlow Brenner, Gary L. Sullivan, Elizabeth Dalton

IPED Technical Reports

No abstract provided.

Handling Competing Values In Ethics, Economics, & Management: A Cross-Cultural Empirical Study Of American & Danish Managerial Attitudes, Annemette Kruse Jensen

Masters Culminating Experiences (1993-2011)

This empirical cross-cultural research was conducted to confirm four hypotheses. The hypotheses included: 1) For American managers there will be at least a 0.55 correlation or more among their ethics, economic, and management attitudes; 2) American managers more than Danish managers will tend to emphasize control in their ethics, economic, and management attitudes; 3) Danish managers more than American managers will exhibit emphasis and correlation among Virtue Ethics, Community Capitalism, and Human Relations theories and attitudes; 4) Danish managers more than American managers will exhibit extreme managerial practice attitudes according to the Competing Values Framework. The limits of the research …

Employer Perceptions Of Work Flexibility: Role Of Skills And Wages In Job Performance, Raymond L. Raab, Pradeep Kotamraju, Maureen O'Brien

Journal of the Minnesota Academy of Science

A programming approach, data envelopment analysis (DEA), will sort and rank occupations on the basis of maximizing skills required and minimizing that occupation's wage resulting in a set of "hiring" efficiency scores. This procedure improves Borda rankings (rankings based on the average of rankings of the individual components), fixed weight, or subjective weighting schemes. In DEA, the linear programming weights or coefficients are explicitly chosen to maximize the discrimination between the skills and wages. A rank correlation between the efficiency scores and various work and demographic variables is performed. The results show a negative correlation between the wage rate and …

Attracting Foreign Direct Investment To Latin America, Carlos A. Loredo

Masters Culminating Experiences (1993-2011)

The purpose of the paper is to examine the literature of foreign direct investment to evaluate what factors are determinant to attract inflows of foreign capital to Latin-American and Caribbean countries. The paper focuses on factors such as market size, degree of openness, rule of law, political stability, trade, regional integration, democracy, availability of natural resources, government efficiency, and infrastructure (i.e. energy generation, transportation systems, ports and telecommunication services). The regression results showed that the degree of openness, trade reform, education, market size, and infrastructure are the most important determinants of foreign investment. Based on my analysis, different Latin American …

An Investigation Into The Sources Of Economic Growth Differentials Among Nations, John Roppenecker

Masters Culminating Experiences (1993-2011)

This study was conducted to comprehensively review established growth economics literature, analyze newly revised data sources, and reestimate generally accepted economic growth models using the revised data. Specific findings include the revalidation of the MRW model, discovery of a satisfactory alternative measure of human capital, sensitivity issues when performing Barro-style regressions, and data trends that may have an alarming impact on certain of the growth models.

Reestimation of the MRW model was found to be robust, and satisfactorily explains differences in productivity among nations. Additionally, human capital as measured by the literacy rate of the population was found to be …

A History Of Revenue Forecasts, Mark Rider

Faculty Articles

Feenberg et al. (1989) apply a simple regression-based method to test the rationality of state revenue forecasts. Using the same regression-based methodology, we test the rationality of federal revenue forecasts for fiscal year 1802 through 2001. We find that Treasury forecasts of federal revenues satisfy the conditions of weak rationality.

The New Basel Capital Accord: Making It Effective With Stronger Market Discipline, Harald Benink, Clas Wihlborg

Business Faculty Articles and Research

In January 2001 the Basel Committee on Banking Supervision proposed a new capital adequacy framework to respond to deficiencies in the 1988 Capital Accord on credit risk. The main elements or ‘pillars’ of the proposal are capital requirements based on the internal risk-ratings of individual banks, expanded and active supervision, and information disclosure requirements to enhance market discipline. We discuss the incentive effects of the proposed regulation. In particular, we argue that it provides incentives for banks to develop new ways to evade the intended consequences of the proposed regulation. Supervision alone cannot prevent banks from ‘gaming and manipulation’ of …

State Enterprise Zone Programs: Have They Worked?, Alan H. Peters, Peter S. Fisher

Upjohn Press

Peters and Fisher evaluate 75 EZs located in 13 states to gain an understanding of the overall effectiveness of state enterprise zones. Faced with a paucity of data on EZs that could be used in standard economic analysis, the authors employ a hypothetical firm model in which they apply various EZ and non-EZ incentives to financial statements created for a set of "typical" firms. Observing the impacts of both types of incentives on firms' financial statements allow Peters and Fisher to predict the firms' resulting behavior. Between these findings and the data accumulated from actual EZs, they are able to …

2002 Rosabeth Moss Kanter Award For Excellence In Work-Family Research Publication, Center For Families, Center For Work And Families

Center for Families Publications

No abstract provided.

Evidence Of Short-Run Persistence In Unit Trusts Performance In Malaysia, Chien Hwa Chong, Puay Eng Kho

Student Works (2000-2009)

The objective of this research is to determine whether there is statistical evidence in performance persistence of Malaysia unit trusts. Tests for performance persistence is also tests for weak form market efficiency of unit trusts in Malaysia. The study is also of practical value since performance persistence indicates that past performance is good prediction of future performance. If there was statistical evidence on performance persistence, then Investors should select the unit trusts to invest based on past performance of the unit trusts. Both parametric and non-parametric statistical tests were carried out to test for performance persistence. Parametric tests employed the …

Faktor Yang Mempengaruhi Pasaran Wang Di Malaysia Serta Kesannya Ke Atas Dasar Kewangan, Azlina Abd. Aziz

Student Works (2000-2009)

Penyelidikan ini bertujuan untuk mengkaji foktor-faktor yang mempengaruhi pa.saran wang di Malaysia, khususnya bagi permintaan dan penawaran wang serta kesannya ke atas pelaksanaan dasar kewangan di Malaysia. Agregat kewangan M1, M2 clan M3 sebagai pembolehubah bergantung bagi permintaan dan penawaran wang. Bagi melihat apakah faktor yang mempengaruhi permintaan wang, sebanyak lima pembolehubah bebas digunakan yang terdiri daripada pendapatan benar, kadar diskaun purata Bil Perbendaharaan 3 bulan, kadar inflasi, hasil Bil Perbendaharaan Amerika Syarikat 3 bulan dan jangkaan kadar depresiasi. Bagi pen.awaran wang, antara petunjuk yang digunakan sebagai pembolehubah bebas terdiri daripada pendapatan benar, kadar bunga deposit bermasa 6 bulan di …

A Study Of Benjamin Graham's Stock Selection Criteria In The Kuala Lumpur Stock Exchange, Lee Fah Thong

Student Works (2000-2009)

The fundamentalists believe that all securities have an intrinsic value, which can differ from its market price and eventually. the market price of a security will gravitate towards its true value. Graham believed that even though securities market could be overall efficient. any conscientious investor could gain superior returns through pockets of inefficiencies by paying close attention to investment fundamentals and taking advantage of undervaluation and mispricing of individual securities. He also proposed ten selection criteria to identify underpriced securities. The study aims to investigate whether the portfolios formed using Grahams selection criteria could achieve superior performance in the Kuala …

Challenges Facing By Malaysian Smes In An Increasingly Liberalised And Globalised Economy, Chong Sin Chew

Student Works (2000-2009)

In the 80s, the government began to pay more attention to the SMEs and recognised the importance of SMEs in the development of economic and earning the foreign currency through export. In view of the strong relationship between SMEs and economic growth, we need to study the challenges of SME development in facing the increasingly liberalisation and globalisation business environment. The research studies the statuses of SMEs in marketing, problems, government assistance, level of computerization and automation, sources of financing, staff development and their views on advisory services. Analysis on new challenges in a globalised economy and recommendations to further …