Business Commons^™

The Legal And Regulatory Framework Required To Enable Microfinance Institutions To Operate Effectively, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The following is an excerpt from a plenary panel of central bank governors titled, "The Legal and Regulatory Framework Required to Enable Microfinance Institutions to Operate Effectively." The panel was moderated by Professor Muhammad Yunus, Managing Director of the Grameen Bank. The panel consisted of Dipendra Purush Dhakal, Governor of the Central Bank of Nepal, Dr. Ishrat Husain, Governor of the State Bank of Pakistan, Mr. Jagdish Kapoor, Deputy Governor of the Reserve Bank of India, Mr. Burhanuddin Abdullah, Deputy Governor of the Central Bank of Indonesia, and Dr. H.D. Pant, former Deputy Governor of the Central Bank of Nepal, …

Capital Access In El Paso: A Multivariate Analysis Of Factors Influencing Loan Approval, David A. Schauer, Dennis L. Soden

IPED Technical Reports

During the spring of 2000, The University of Texas at El Paso was commissioned by the El Paso Leadership and Research Council to explore a broad set of issues surrounding supply and demand factors with respect to commercial banks, small business firms and debt financing. The study revealed among other things that small, relatively young and minority owned firms experience high loan denial rates compared to their counterparts. The present study has the purpose of providing a more comprehensive statistical analysis concerning the factors which influence or predict loan approval probabilities.

Montana Vision Travel Research: 2001, Norma P. Nickerson, Thale Dillon, Kim Mcmcmahon

Institute for Tourism and Recreation Research Publications

Outlook for 2001 and Review of 2000.

Forecasting Volatility: Evidence From The German Stock Market, Hagen H. W. Bluhm, Jun Yu

Research Collection School Of Economics

In this paper we compare two basic approaches to forecast volatility in the German stock market. The first approach uses various univariate time series techniques while the second approach makes use of volatility implied in option prices. The time series models include the historical mean model, the exponentially weighted moving average (EWMA) model, four ARCH-type models and a stochastic volatility (SV) model. Based on the utilization of volatility forecasts in option pricing and Value-at-Risk (VaR), various forecast horizons and forecast error measurements are used to assess the ability of volatility forecasts. We show that the mode lrankings are sensitive to …

The Economic Feasibility Of A Car Wash, Steve A. Johnson

IPED Technical Reports

No abstract provided.

Market Structure And Racial Earnings: Evidence From Job Changers, Richard U. Agesa, Jacqueline Agesa, Gary A. Hoover

Economics Faculty Research

In his seminal contribution, Gary Becker (1957) suggests that rents in noncompetitive industries provide employers with the latitude to engage in earnings discrimination. Implicit in this theory, is that white workers in noncompet­itive industries would capture a disproportion­ ate share of monopoly rents (excessive wages) relative to their minority counterparts. We utilize wage-change equations to exam­ine earnings shifts for whites and minorities stemming from a job switch to a different mar­ket structure. Additionally for each racial group, wage equations of workers before and after the job change are used to calculate difference­ in-differences estimates of wage change as a result …

Development Of Russian Commercial Banks And Financial Crisis Of 1998, Anna Barc

Theses Digitization Project

This report describes the development of commercial banks in Russia and role of government and Central Bank in advance of Russian financial system.

The Ethics Of Taxation, Fred Foldvary

Faculty Publications

The judgment of taxation by ethical standards requires a universally applicable ethic. Such an ethic, natural moral law, can be derived using the Lockean framework based on equality. By this universal ethic, persons have property rights in their bodies and lives, and thus in their labor. The taxation of wages and of products of labor are therefore morally wrong. The equality premise, combined with the Lockean proviso on land, leads to the conclusion that public revenues may be justly obtained from the rental benefit of natural resources. Voluntary user fees and invasion penalties such as pollution charges are also morally …

Indiana State University Financial Report 2001, Indiana State University

Financial Reports

No abstract provided.

Are There Rational Bubbles In The Us Stock Market? Overview And A New Test, A. (Tassos) G. Malliaris, Ramaprasad Bhar

School of Business: Faculty Publications and Other Works

A speculative bubble is usually defined as the difference between the market value of a security and its fundamental value. Although there are several important theoretical issues surrounding the topic of asset bubbles, the existence of bubbles is inherently an empirical issue that has not been settled yet. This paper reviews several important tests and offers one more methodology that improves upon the existing ones. The new test is applied to the annual US stock market data spanning over a century and at the monthly frequency covering the post-war period. Although we find evidence of stock price bubble in both …

Cationic Surfactant Mediated Hybridization And Hydrophobization Of Dna Molecules At The Liquid/Liquid Interface And Their Phase Transfer, Murali Sastry, Ashavani Kumar, Mrunalini Pattarkine, Vidya Ramakrishnan, Krishna N. Ganesh

Faculty Works

Hybridization of complementary oligonucleotides mediated by a cationic surfactant at the water/hexane interface leads to hydrophobic, double-helical DNA which may be readily phase transferred to the organic phase and cast into thin films on solid substrates.

Is The Federal Reserve Bank Stock Market Bubble-Neutral?, A. (Tassos) G. Malliaris, Marc D. Hayford

School of Business: Faculty Publications and Other Works

This paper argues that the Fed was not stock market bubble-neutral during the last several years. This nonneutrality implies two options: first, the Fed has used monetary policies to prevent the building of the stock market bubble or, second, the Fed has contributed to its development and subsequent deflation. We supply representative quotes from the FOMC transcripts to establish that the Fed has paid significant attention to the valuation of the stock market. These quotes confirm that the stock market’s valuation was an important variable in the Fed’s decision-making and its conduct of monetary policy. We also conduct econometric modeling, …

Export Performance Of Malaysian Frozen Shrimp Industry Against Selected Asean Countries, Chai Fong Lim

Student Works (2000-2009)

The recent liberalisation of trade in A SEAN has promoted more regional trade in shrimp among the ASEAN countries as well as trade with countries outside the region. An important issue arising from the liberalisation of trade concerns the increased pressure of competition and direct rivalry among Malaysia and the other ASEAN countries for the export of shrimps in the international markets. This paper analyses the export performance and competitiveness of Malaysian frozen shrimp against three other ASEAN countries, that is Indonesia, the Philippines and Thailand, in the Japanese market. Four different methods, namely constant­ market-share analysis, shift-share analysis, revealed …

The Impact Of Domestic Political Events On An Emerging Stock Market : The Case Of Indonesia, Herry Suhardjo

Student Works (2000-2009)

This paper provides information regarding the effects of domestic political events on the Jakarta Stock Exchange. An event methodology is employed, and the results suggest that the market as a whole and the overall industries do not seem to respond to all political events. The results also indicate that there is no difference between the means of abnormal returns before and after the event. In general, the market as a whole and the overall industries behave in a similar manner. The change in signs (positive-negative) of abnormal returns suggests that the political condition in Indonesia was still unstable. The results …

Redefining The U.S. Hispanic Market: Generation N And American Society, Cindy L. Pino

Seton Hall University Dissertations and Theses (ETDs)

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Perception On Luxury Consumption : A Study Of Car Owner In Kuala Lumpur And Selangor, Yoke Kin Kuek

Student Works (2000-2009)

No abstract provided.

Comparison Of Some Technical Indicators In The Kuala Lumpur Stock Exchange, Gin Hoe Lim

Student Works (2000-2009)

Technical analysis is both highly controversial and widely used; some practitioners claim that it is profitable. They say that historical technical figures, such as the past behaviour of the stock's price, give them foresight into future price movements. Many others, however, claim that the practice of looking at past technical data to help predict the future is outlandish and most academics fall into this group. More and more writers are beginning to question whether technical analysis may serve as one tool available to those who want to trade profitably in the market. And this is the reason for this project …

B2b Portal: Web-Enable Fulfillment System, Oi Ching Wong

Student Works (2000-2009)

The Web-enable fulfillment system is basically a web site that enables suppliers to automate and structure the order fulfillment process to help ensure that products and services meet or exceed customer’s exact requirements including quality, quantity and specifications. The intelligence of the system will be the server where all calculations and business rules are applies. Business-to-business (B2B) e-Commerce implies that both the sellers and buyers are business corporation. Purchase order is used as the system default as the business partners rarely use credit card for payment. Therefore, the order fulfillment process begins when an approved order is routed to the …

Effectiveness And Efficiency Of Investment Strategies: A Simulation Model, Ellen Denise Bruno Ramsey

Graduate Student Dissertations, Theses, Capstones, and Portfolios

This dissertation, through an historical study, attempts to give the reader a clear depiction of different types of investment strategies. The four diverse investment strategies, as compared to the Optimal Strategy, were tested from December 1, 1997, through January 30, 2001 Three years of daily closing price data was obtained and utilized within a simulated model. Ten stocks, from ten diverse sectors, listed on the S&P 500 as well as the National Association of Investment Clubs (NAIC) 1999 Individual Investor's Top 100 Index, were analyzed and evaluated for each investment strategy over the duration of the study. By using Standard …

Enslaved To Fashion: Corporations, Consumers, And The Campaign For Worker Rights In The Global Economy, George Demartino

Human Rights & Human Welfare

A review of Levi’s Children: Coming to Terms with Human Rights in the Global Marketplace by Karl Schoenberger. New York: Atlantic Monthly Press, 2000. 288pp.

Levi’s Children presents a sobering account of the tribulations of a transnational corporation with a heart trying its best to navigate honorably the polluted moral waters of the global economy. San Francisco-based Levi Strauss and Company, maker of the iconic Levi’s jeans and other apparel, sought to maintain a commitment to social responsibility in the face of intensifying financial pressures to do otherwise. Author Karl Schoenberger puts this account to good effect, illuminating the extraordinary …

Chapter 10: Upper-Middle-Class Politics And Policy Outcomes: Does Class Identity Matter?, Herman L. Boschken

Faculty Publications, School of Management

This chapter in Clark and lipset's book on class in American politics resulted from a multi-day workshop at the Woodrow Wilson Center for International Scholars in the summer of 1999. The piece reverses the normal causality of class politics. It does not analyze citizens in elections, but government officials creating policies. It asks why policies differ across localities (specifically public transit decisions in 42 U.S. metropolitan areas). It probes how some government officials work with an "upper-middle-class" citizenry in mind, while others do so less. The chapter then tests for differences across localities and finds quite distinct patterns. The chapter …

A Study On The Impacts And Implications Of Electronic Commerce (E-Commerce) On Manpower Requirements In Cyberjaya, Malaysia, Oras Fadel Baker Al Hassani

Student Works (2000-2009)

This is a study of the impact of the information age particularly the electronic commerce on the human resource development in Malaysia. Basically, the study tries to determine the implications of adopting e-commerce on the manpower requirements. It is agreed that with the advent of Internet and its electronic services, the market has to adjust to the demands in the market place to be able to compete locally and globally. The study used of a set of questionnaire and interviews and selected literature review to gather relevant data and information on the current situation in the Malaysian workforce regarding the …

An Analysis Of Manufacturing Wages In Selected Malaysian Manufacturing Industries, Lee Peng Ho

Student Works (2000-2009)

A lot of focus has been placed on the importance of the relationship between wages and labour productivity in view of increasing competition due to the globalization of economies. Therefore, this paper attempts to examine whether the increase in real wages is commensurate with higher increase in labour productivity. The model of this study is adapted from Carneiro's (1998) paper which is based on union-firm wage bargaining model. This paper analyses both the long-run and short-run dynamics of wage formation in Malaysian manufacturing as a whole and also 13 sub-selected sectors of manufacturing industry using the Eagle and Granger (1987) …

Factors Affecting Career Advancement Among Young School Leavers, Mei Mei Lim

Student Works (2000-2009)

This study examines the patterns of career advancement and factors affecting an individual's career advancement. Career advancement is measured using occupational mobility and income mobility. The analyses are based on 1702 young school leavers data for whom are available from the "Transition from School to Work" study, which was carried out between 1989 and 1996. It is common to change occupation or employer or both in the early stages of the career. For every two individuals, one of them changes jobs within the seven years studied. Individuals in the professional group are the least likely to change occupation and the …

A Comparative Study Of Islamic Unit Trust And Conventional Unit Trust In Malaysia : An Emphasis On Its Performance, Suhaili Sarif

Student Works (2000-2009)

The emergence of Islamic unit trust in the Malaysian unit trust industry is reflection of a strong desire among Muslims in general and investors in specific, to have a fund intermediary which is in compliance with Syariah principles. However, its implementation has only come into success after continuous effort and commitment from the government. Unfortunately after almost 10 years of operation in the market, Islamic unit trust has only managed to capture a minuscule proportion in the unit trust market, besides receiving several negative perceptions. This study tries to determine the significant similarities and differences between Islamic and conventional un …

Market Reaction To Share Repurchases Announcements : An Empiricial Study Of Companies Listed On The Main Board Of Klse, Yu Ming Yap

Student Works (2000-2009)

This study examines the share prices behaviour surrounding the share repurchases programmes announcements by public listed companies listed on the main board of Kuala Lumpur Stock Exchange in Malaysia. f The sample of this study comprises of 48 companies and the period o study spans from 1 September 1997 to 15 October 2000. The impact of these announcements are determined by examining the market-adjusted abnormal returns and share returns of each company for 60 trading days surrounding the announcement day. Using standard event study methodology, this study documents an overall non-significant positive or negative market reaction surrounding the announcement day. …

Knowledge Management In Twenty Malaysian Companies, Lai Yee Kong

Student Works (2000-2009)

The world economy has evolved over the last couple of years from a managed economy into an entrepreneurial economy or commonly referred as knowledge-based economy. In the knowledge-based economy, knowledge is becoming the primary production factor comparing to the traditional economies, which focused on labour, land, and capital. Therefore, there is a need to explore its impact to Malaysian's firms. This research deals with knowledge management in the emergence of knowledge economy especially for developing country such as Malaysia. Exploration of Malaysian's managers' perception towards knowledge management process and its awareness will be focused in the entire research study. In …

Holiday Effect : A Decade Of Change In The Performance Of The Kuala Lumpur Stock Exchange, Rina Bee Yan Tong

Student Works (2000-2009)

This empirical research investigates the holiday effect in the Kuala Lumpur Stock Exchange (KLSE) using three daily stock indices: Kuala Lumpur Stock Exchange Composite Index (KLSE Cl), Exchange Main Board All-Share Index (KLSE EMI), and Kuala Lumpur Stock Exchange Second Board Index (KLSE SBI) over the period January 1990 to June 2001. The results show abnormally high pre­holiday returns which predominate only on the single trading day immediately prior to holidays and the pre-holiday fraction of positive return is found significantly higher for all three indices. On the other hand, the post-holiday returns are higher than normal trading days but …

The Impact Of Selective Capital Controls On The Malaysian Economy, Tengku Rethwan Tengku Mansor

Student Works (2000-2009)

The capital control policy adopted by Malaysia is a radical approach towards restoring its battered economy during the financial crisis of 1997. Such stance was taken by the Malaysian government to combat currency speculators from causing further damage to its economy as the earlier IMF-like prescription had failed. It may be an unpopular approach especially, to the advocates of the free market, nevertheless it provides an alternative solution for other countries to emulate in the event of facing such onslaught on their currency. It is also hoped that this study will serve as a reference on the subject of selective …

The Performance Of Local Majority Equity Companies (Lmecs) And Foreign Majority Equity Companies (Fmecs) In The Kuala Lumpur Stock Exchange : Before And During The Financial Crisis, Fadillah Mansor

Student Works (2000-2009)

The financial crisis, which began in July 1997 in Malaysia, had affected both Local Majority Equity Companies (LMECs) and Foreign Majority Equity Companies (FMECs). The study attempts to examine and compare the performance of LMECs and FMECs listed on the Kuala Lumpur Stock Exchange (KLSE) by looking at companies' stock return. The study is divided into two sub periods, namely "before the crisis" and "during the crisis'. The samples consisted of 21 LMECs and 21 FMECs, which were selected from the companies listed on the KLSE main board and second board. These samples of LMECs and FMECs were matched respectively …