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Finance and Financial Management

Theses/Dissertations

2001

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Articles 1 - 16 of 16

Full-Text Articles in Business

Raising Capital For Not-For-Profit Organizations: Tax-Exempt Bond Financing, Christopher T. Tucker Jul 2001

Raising Capital For Not-For-Profit Organizations: Tax-Exempt Bond Financing, Christopher T. Tucker

Seton Hall University Dissertations and Theses (ETDs)

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Fundamental Approach To Exchange Rate Modeling: Toward An Augmented Theory Of Purchasing Power Parity, Jianzhou Zhu Apr 2001

Fundamental Approach To Exchange Rate Modeling: Toward An Augmented Theory Of Purchasing Power Parity, Jianzhou Zhu

Doctoral Dissertations

In this dissertation, I test the homogeneity and symmetry conditions of PPP by applying the Johansen multivariate cointegration methodology to quarterly data for six countries. I perform the tests in the framework of both a traditional version and an augmented version of PPP. The results of tests on the traditional version of PPP reveal that in all cases the theoretical PPP-vector [1, 1, −1] is not contained in the cointegrating space. This finding is consistent with that of existing literature and indicates the empirical failure of the homogeneity and symmetry conditions of PPP. However, when the traditional PPP is augmented …


Two Essays On Exchange -Traded Funds, Natalya Vladimir Delcoure Apr 2001

Two Essays On Exchange -Traded Funds, Natalya Vladimir Delcoure

Doctoral Dissertations

The purpose of this study is twofold. The first objective is to conduct an empirical inquiry into the diversification benefits of exchange-traded funds. The second objective is to examine whether exchange-traded funds exhibit superior performance compared to their rival closed-end country fund and traditional index mutual fund. I document that American investors manifest their preference for WEBS as a substitute for closed-end country funds. While I find that WEBS satisfy their objective of following their home indexes better than their rival closed-end country fund, the two-factor model I employ indicates that, despite some diversification benefits, WEBS also maintain certain risk …


Clark County School District: Bonds And Debt. Can They Be Divided Equally?, Jocelyn Izumigawa Apr 2001

Clark County School District: Bonds And Debt. Can They Be Divided Equally?, Jocelyn Izumigawa

UNLV Theses, Dissertations, Professional Papers, and Capstones

Clark County School District is one of the largest school districts in the nation with a student population of 203,616 for 1998-1999. Talk of deconsolidating Clark County School District has been proposed by Assembly persons. However, as recent as November 2000, another initiative for deconsolidation and reconfigurations had not been approved by the voters. One of the issues surrounding deconsolidation is the district's bond debt. An equitable division has not been reached should Clark County School District deconsolidate. This paper deals with dividing the bond debt equally among eight districts (identified in an earlier study of deconsolidation) and assessing whether …


Relating Initial Budget To Program Growth With Rayleigh And Weibull Models, Eric J. Unger Mar 2001

Relating Initial Budget To Program Growth With Rayleigh And Weibull Models, Eric J. Unger

Theses and Dissertations

Previous research on completed defense R&D shows that contract expenditures can be fit well with a Rayleigh model. With fixed outlay rates, as prescribed by the OSD comptroller, the budget profile must have most of the funds in the early years to produce Rayleigh-distributed expenditures. R&D programs with more delayed funding profiles may also produce expenditures that a Rayleigh model fits through schedule slips and cost overruns. This research tests how well the initial funding profile produces Rayleigh-distributed expenditures that can be related to the program's final cost overrun and schedule slips. Based only on the initial budget profile, we …


Dollarizing Qualitative Discriminators Used In Best Value Source Selections, Jason R. Borchers Mar 2001

Dollarizing Qualitative Discriminators Used In Best Value Source Selections, Jason R. Borchers

Theses and Dissertations

With the decreasing budget that gets allocated to the Department of Defense each year, the government needs to be able to acquire more with less. This has a direct impact on how source selections are conducted. This research proposes a method using four different levels of cost that will provide the government with the best overall value in the conduction of source selections. This differs from previous source selections, because source selection teams, in general, only considered proposal price in their evaluation.


A Critical Analysis Of The Air Force's International Merchant Purchase Authorization Card (Impac) Program, Roy D. Thrailkill Mar 2001

A Critical Analysis Of The Air Force's International Merchant Purchase Authorization Card (Impac) Program, Roy D. Thrailkill

Theses and Dissertations

The United States Air Force (USAF) purchased over $ 1.3 billion worth of goods and services with the IMPAC in fiscal year (FY) 2000 alone. The proliferation of the IMPAC has changed the way organizations procure goods and services and empowered them with a tool to increase their procurement flexibility and responsiveness. These benefits have been accompanied by regulatory and procedural constraints that have presented challenges to key participants of this streamlined purchase process. This thesis addresses documented deviations of the IMPAC program's execution from its theoretical design. It describes the structure of the IMPAC program, analyzes the execution of …


Revising R & D Program Budgets When Considering Funding Curtailment With A Weibull Model, Paul H. Porter Mar 2001

Revising R & D Program Budgets When Considering Funding Curtailment With A Weibull Model, Paul H. Porter

Theses and Dissertations

This research develops an analytical technique to estimate the impact of funding curtailment on an R&D program. The method quickly produces a revised budget by year for an on-going R&D program when funding in one year is reduced. We assume program requirements remain unchanged. The program duration may be unchanged or "stretched" to a later completion date. We use the Rayleigh and Weibull functions to model expenditure profiles, which forms basis of the analytical approach. Our proposed methodology accounts for budget outlay rates and inflation. We validate the proposed analytical technique using historical cost data from several programs.


Estimating C-17 Operating And Support Costs: Development Of A System Dynamics Model, Christopher D. Purvis Mar 2001

Estimating C-17 Operating And Support Costs: Development Of A System Dynamics Model, Christopher D. Purvis

Theses and Dissertations

This research provides justification for experimenting with system dynamics (SD) for performing Operation and Support Cost estimates. For the C-17 Globemaster III cargo aircraft, these costs could exceed $64 billion dollars. Also, many of our weapon systems are beginning to reach the end of their effective life span, and discussions about the impact of aging, on aircraft, has become a hot topic in the literature. System Dynamics is a modeling methodology developed in 1958, but never used extensively for cost estimating. SD offers unique capabilities to the cost estimator, including the ability to model causal relationships. This capability offers the …


Development Of Russian Commercial Banks And Financial Crisis Of 1998, Anna Barc Jan 2001

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.


Strategic Business Plan: Senior Planning Solutions, Sherdon Hamel Jan 2001

Strategic Business Plan: Senior Planning Solutions, Sherdon Hamel

Theses Digitization Project

No abstract provided.


Effectiveness And Efficiency Of Investment Strategies: A Simulation Model, Ellen Ramsey Jan 2001

Effectiveness And Efficiency Of Investment Strategies: A Simulation Model, Ellen 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 …


Streamlining The Regulatory Procedures For Small And Medium Enterprises, Manal Hussein Jan 2001

Streamlining The Regulatory Procedures For Small And Medium Enterprises, Manal Hussein

Archived Theses and Dissertations

No abstract provided.


International Portfolio Diversification With Special Reference To Emerging Markets, Joseline Chimhini Jan 2001

International Portfolio Diversification With Special Reference To Emerging Markets, Joseline Chimhini

Theses: Doctorates and Masters

This study evaluates the potential benefits that investors obtain from diversifying their portfolios into emerging markets when the time varying behavior of assets is considered. It also tests whether the existing asset-pricing model developed in the context of developed markets, which assumes complete integration, can explain the expected returns in emerging markets and determines the risk of investing in these markets using cross section and time series data. An international capital asset pricing model (ICAPM) with time varying moments developed by Harvey (1991) is adopted. The conditional asset-pricing model, which takes into account prevailing world economic factors, was used. The …


Financial Intermediation And Economic Performance In Zimbabwe, Gift Chirozva Jan 2001

Financial Intermediation And Economic Performance In Zimbabwe, Gift Chirozva

Theses: Doctorates and Masters

Financial literature is replete with theoretical and empirical evidence suggesting financial development has a causal effect on economic growth. Yet there is no consensus on the finance-growth nexus. The direction of causality is still controversial In fact, classical economists argue that financial factors are neutral and hence cannot have real effects. Critics argue the traditional methods of identifying long run economic relationships fail to address the methodological conflict between equilibrium implied by theory and the disequilibria in the data. The rise of new representation techniques such as the General Methods of Moments (GMM) and vector autoregression [VAR] brought with them …


Investigating The Effect Of The International Stock Indexes On The United States Stock Index Futures, Zehlha Illhan Ertuna Jan 2001

Investigating The Effect Of The International Stock Indexes On The United States Stock Index Futures, Zehlha Illhan Ertuna

Theses and Dissertations in Business Administration

The futures market is used extensively for price discovery, arbitrage, and hedging. Since their introduction in the 1980's, the stock index futures have also become an active market and a very important research area. Any additional knowledge to understand the underlying effects on the index will help both investors and researchers. In this study, I examine the role of informational flow from the world's major stock markets (British, French, German, Japanese) to the U.S. futures market in terms of forming expectations, and offer new insights regarding the informational efficiency of the futures markets in an intenational perspective. State space modeling …