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Articles 1 - 30 of 190
Full-Text Articles in Business
Institutionalization Of Software Product Line: An Empirical Investigation Of Key Organizational Factors, Faheem Ahmed, Luiz Capretz, Shahbaz Sheikh
Institutionalization Of Software Product Line: An Empirical Investigation Of Key Organizational Factors, Faheem Ahmed, Luiz Capretz, Shahbaz Sheikh
Luiz Fernando Capretz
A good fit between the person and the organization is essential in a better organizational performance. This is even more crucial in case of institutionalization of a software product line practice within an organization. Employees’ participation, organizational behavior and management contemplation play a vital role in successfully institutionalizing software product lines in a company. Organizational dimension has been weighted as one of the critical dimensions in software product line theory and practice. A comprehensive empirical investigation to study the impact of some organizational factors on the performance of software product line practice is presented in this work. This is the …
The Chilean Corporate Governance System: The Effect Of Non-Bank Financial Intermediaries And Auditors On Earnings Quality And Disclosure Levels, Veronica Pizarro, Sakthi Mahenthiran, David Cademartori, Roberto Curci
The Chilean Corporate Governance System: The Effect Of Non-Bank Financial Intermediaries And Auditors On Earnings Quality And Disclosure Levels, Veronica Pizarro, Sakthi Mahenthiran, David Cademartori, Roberto Curci
Sakthi Mahenthiran
Note:full-text not available due to publisher restrictions. Link takes you to an external site where you can locate the article at your local library.
Implied Measures Of Relative Fund Performance, Steve Hogan, Mitch Warachka
Implied Measures Of Relative Fund Performance, Steve Hogan, Mitch Warachka
Business Faculty Articles and Research
We evaluate the relative performance of funds by conditioning their returns on the cross-section of portfolio characteristics across fund managers. Our implied procedure circumvents the need to specify benchmark returns or peer funds. Instead, fund-specific benchmarks for measuring selection and market timing ability are constructed. This technique is robust to herding as well as window dressing and mitigates survivorship bias. Empirically, the conditional information contained in portfolio weights defined by industry sectors, assets, and geographical regions is important to the assessment of fund management. For each set of portfolio characteristics, we identify funds with success at either selecting securities or …
Intraday Pattern And The Speed Of Adjustment In The Jakarta Stock Exchange, Zaafri Husodo, Thomas Henker
Intraday Pattern And The Speed Of Adjustment In The Jakarta Stock Exchange, Zaafri Husodo, Thomas Henker
Thomas Henker
High frequency study at individual level in the Jakarta Stock Exchange is conducted in this research to reveal the dynamics at intraday level. Several apparent patterns emerge from analyzing the relation among the speed of adjustment coefficients, noise, and noise variance. It is found that the noise and noise variance are at a low level when the speed of adjustment coefficients achieves a fair level. The speed of adjustment coefficients, both at market and individual level show a periodic adjustment pattern at a daily interval. This justifies the importance of studying the dynamics of the price discovery as estimated in …
The Archway Investment Fund Semi Annual Report, December 2007, Bryant University, Archway Investment Fund
The Archway Investment Fund Semi Annual Report, December 2007, Bryant University, Archway Investment Fund
Archway Investment Fund
No abstract provided.
Value Discount Of Business Groups Surrounding The Asian Financial Crisis: Evidence From Korean Chaebols, James Jinho Chang, Young Jun Cho, Won Kang, Hyun-Han Shin
Value Discount Of Business Groups Surrounding The Asian Financial Crisis: Evidence From Korean Chaebols, James Jinho Chang, Young Jun Cho, Won Kang, Hyun-Han Shin
Research Collection School Of Accountancy
We examine the effect of business group membership on firm value in each pre-and postcrisis Korea. Consistent with prior studies, results show that group affiliated chaebol firms suffer value discount relative to non-chaebol firms in the precrisis period. However, we also find that chaebol firms experience an improvement in firm value relative to non-chaebol firms after the financial crisis. These findings imply that the value discount of business groups reported in prior studies is not an inevitable consequence of diversification, but can be alleviated or overcome by structural reforms in business practices or economic conditions.
Lessons From The Sub-Prime Crisis, Melvyn Teo
Lessons From The Sub-Prime Crisis, Melvyn Teo
Research Collection BNP Paribas Hedge Fund Centre
We show that there is significant variation in performance across hedge funds during the subprime crisis. Hedge funds that (i) invested in Asia, (ii) had equity exposure, (iii) adopted directional strategies, or (iv) allowed for frequent redemptions, underperformed other funds. Moreover, leveraged funds did not fare significantly worse than their non-leveraged counterparts. Our results suggest that credit market illiquidity was not directly responsible for the bloodshed amongst hedge funds. Rather, funds were hurt by an increase in global risk aversion and by fire sales conducted in anticipation of redemptions.
Complementary And Alternative Medicine: Opportunities And Challenges, William Martin, Hugh Long
Complementary And Alternative Medicine: Opportunities And Challenges, William Martin, Hugh Long
Publications – Dreihaus College of Business
Health care finance is complex in all sectors of the health care industry. This article highlights both the challenges and opportunities of financing and reimbursing care with a focus on CAM providers and CAM provider organizations.
Is Direct Method Cash Flow Reporting Better At Predicting Future Performance?, Knowledge@Smu
Is Direct Method Cash Flow Reporting Better At Predicting Future Performance?, Knowledge@Smu
Knowledge@SMU
“Cash is king” goes the saying. Even companies enjoying brisk business have been known to fail because of unhealthy cash flows. The accounting profession is split over the benefits of the direct method (DM) versus the indirect method (IM) of preparing cash flow reports. In a study of over 100 US-based companies which used direct cash flow statements, Singapore Management University accounting professor Yoonseok Zang shows conclusively that the direct method does better at predicting future performance and earnings. --------------------------------------------------------------------------------
Information Opacity, Credit Risk, And The Design Of Loan Contracts For Private Firms, Lucy Ackert, Rongbing Huang, Gabriel G. Ramirez
Information Opacity, Credit Risk, And The Design Of Loan Contracts For Private Firms, Lucy Ackert, Rongbing Huang, Gabriel G. Ramirez
Faculty and Research Publications
This paper examines the structure and cost of a large sample of bank loans to private firms. Compared to public firms, private firms are more informationally opaque and riskier. The results suggest that the design of a loan to a private firm is significantly different from that to a public firm. Bank loans to private firms are more likely to be by a sole lender, collateralized, and have sweep covenants than loans to public firms. The cost of borrowing is higher for a private firm than for a public firm, even after holding constant firm and loan characteristics.
The Change In Corporate Transparency Of Korean Firms After The Asian Financial Crisis: An Analysis Using Analysts' Forecast Data, Jinho Chang, Young Jun Cho, Hyun-Han Shin
The Change In Corporate Transparency Of Korean Firms After The Asian Financial Crisis: An Analysis Using Analysts' Forecast Data, Jinho Chang, Young Jun Cho, Hyun-Han Shin
Research Collection School Of Accountancy
Using analysts' forecast error and forecast dispersion of firms covered by the I/B/E/S database, this study examines the change in information asymmetry of Korean firms around the financial crisis of 1997. Results show that the information asymmetry of Korean firms is lower after the financial crisis than before, implying that corporate transparency did, in effect, improve with the change in business environment. In addition, this study finds that chaebol firms have higher information asymmetry than non-chaebol firm, and also that the corporate transparency improvement of chaebol firms is not higher than that of non-chaebol firms in the post-crisis period despite …
Complementary And Alternative Medicine: Opportunities And Challenges, William Marty Martin, Hugh Long
Complementary And Alternative Medicine: Opportunities And Challenges, William Marty Martin, Hugh Long
William Marty Martin
Health care finance is complex in all sectors of the health care industry. This article highlights both the challenges and opportunities of financing and reimbursing care with a focus on CAM providers and CAM provider organizations.
The Association Between Corporate Governance And Audit Fees, Cindy K. Harris
The Association Between Corporate Governance And Audit Fees, Cindy K. Harris
Business and Economics Faculty Publications
The Sarbanes-Oxley Act of 2002 (“SOX”) established not only corporate governance reform but also legislated significant changes to the practice of auditing publicly held corporations. Rules implemented by the Securities and Exchange Commission (“SEC”) further reinforced stronger corporate governance standards. The effect of these reforms on the cost of public audits is indisputable: the initial rise in audit fees was dramatic as corporations complied with the new provisions. This paper examines the relationship between corporate governance characteristics and audit fees for a random sample of 100 publicly traded corporations drawn from the 2005 Fortune 500 list. The data is obtained …
Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu
Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu
Knowledge@SMU
China’s Securities Regulatory Commission (CSRC) stands out in its approach to tighten restrictions for listed companies wanting to initiate rights issues or seasoned equity offerings (SEOs). The country’s experience, relevant to other emerging markets, is the subject of a research paper published recently in the International Journal of Accounting, co-authored by Kevin C.W. Chen, accounting professor at the Hong Kong University of Science and Technology and Singapore Management University accounting professor Jiwei Wang. --------------------------------------------------------------------------------
Top Performing Hedge Funds: Does Geography Make A Difference?, Knowledge@Smu
Top Performing Hedge Funds: Does Geography Make A Difference?, Knowledge@Smu
Knowledge@SMU
Do hedge funds earn above-average returns? Is there a way to identify these top performers? Where hedge funds are located makes the difference, according to Singapore Management University finance professor Melvyn Teo, who is also director of the university’s BNP Paribas Hedge Fund Centre. Teo puts forward evidence for the hypothesis that locally-managed hedge funds are better able to monitor their investments and, therefore, generate superior returns.
Patterns Of District Performance In Student Achievement: Connecting Resources To Student Achievement, Peter Simpson, Robert K. Gable, Stacey L. Kite
Patterns Of District Performance In Student Achievement: Connecting Resources To Student Achievement, Peter Simpson, Robert K. Gable, Stacey L. Kite
School Finance and Student Achievement
This presentation is the first sequence of a three-phase study using a mixed method sequential explanatory strategy (Creswell, 2003). The study is research in-progress that investigates how resources can increase or diminish the value resources as they move through the education delivery system contributing in variations in its overall performance (Porter, 1985). The study is unique, because it combines, and is based on microeconomic and complex adaptive theories to examine resource utilization within school districts. This first sequence has two analytical goals and steps: (1) to verify the significant correlation, but with patterns of variability for district performance measured by …
An Empirical Examination Of Jump Risk In U.S. Equity And Bond Markets, Lee M. Durham, Geoffrey C. Friesen
An Empirical Examination Of Jump Risk In U.S. Equity And Bond Markets, Lee M. Durham, Geoffrey C. Friesen
Department of Finance: Faculty Publications
ABSTRACT
Actuaries manage risk, and asset price volatility is the most fundamental parameter in models of risk management. This study utilizes recent advances in econometric theory to decompose total asset price volatility into a smooth, continuous component and a discrete (jump) component. We analyze a data set that consists of high-frequency tick-by-tick data for all stocks in the S&P 100 Index, as well as similar futures contract data on three U.S. equity indexes and three U.S. Treasury securities during the period 1999–2005. We find that discrete jumps contribute between 15% and 25% of total asset risk for all equity index …
The Microcredit Impact: The Evaluation And Effects Of Microloans On Caboclos Communities Of The Tapajós River, Robert Chew
The Microcredit Impact: The Evaluation And Effects Of Microloans On Caboclos Communities Of The Tapajós River, Robert Chew
Independent Study Project (ISP) Collection
In 2002, Projeto Saúde e Alegria, an NGO dedicated to improving the health, education and socio-economic situation of rural caboclos communities of the greater Santarém region of Pará, began a microcredit program to facilitate the creation of alternative sources of income and poverty reduction within the communities. Three years later in 2005, the program was cancelled indefinitely due to low repayment rates. The following study attempts to identify and analyze what problems occurred within the microcredit program that led to the project’s eventual failure. Additionally, speculation into whether the program helped certain communities reduce poverty will also be investigated to …
European Venture Capital Market: Scaling Beyond Current Boundaries, Gerard George, Eva Nathusius
European Venture Capital Market: Scaling Beyond Current Boundaries, Gerard George, Eva Nathusius
Research Collection Lee Kong Chian School Of Business
This study systematically documents the perceptions of LPs, venture capitalists and entrepreneurs and their views of the trends and challenges facing the European venture capital market. The interest from LPs in European venture capital funds was found to be neutral to marginally negative because of historical returns. However, buoyancy in the supply of high quality opportunities at reasonable valuations has the potential to improve this outlook. The findings suggest that European venture capitalists still face structural barriers in the form of heterogeneous consumer preferences, improving but weak exit and fundraising environments, and the scarcity of LPs of significant size. The …
Interest Rates In The Sub-Prime Mortgage Market, Souphala Chomsisengphet, Anthony Pennington-Cross
Interest Rates In The Sub-Prime Mortgage Market, Souphala Chomsisengphet, Anthony Pennington-Cross
Finance Faculty Research and Publications
No abstract provided.
Distress During The Great Depression: The Illiquidity-Insolvency Debate Revisited, Gary Richardson
Distress During The Great Depression: The Illiquidity-Insolvency Debate Revisited, Gary Richardson
Gary Richardson
During the contraction from 1929 to 1933, the Federal Reserve System tracked changes in the status of all banks operating in the United States and determined the cause of each bank suspension. This essay analyzes chronological patterns in aggregate series constructed from that data. The analysis demonstrates both illiquidity and insolvency were substantial sources of bank distress. Periods of heightened distress were correlated with periods of increased illiquidity. Contagion via correspondent networks and bank runs propagated the initial banking panics. As the depression deepened and asset values declined, insolvency loomed as the principal threat to depository institutions.
2007-2008 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.
2007-2008 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.
All Southern University System Budgets
The 2007-2008 Fiscal Year Operating Budget of the Southern University Law Center. Final Printing.
2007-2008 Operating Budget (Final Printing): Southern University And A & M College, Southern University System. Office Of Finance & Administration.
2007-2008 Operating Budget (Final Printing): Southern University And A & M College, Southern University System. Office Of Finance & Administration.
All Southern University System Budgets
The 2007-2008 Operating Budget of the Southern University and A & M College Campus. Final Printing.
2007-2008 Operating Budget (Final Printing): Southern University At Shreveport, Southern University System. Office Of Finance & Administration.
2007-2008 Operating Budget (Final Printing): Southern University At Shreveport, Southern University System. Office Of Finance & Administration.
All Southern University System Budgets
The Southern University at Shreveport Operating Budget for the fiscal year 2007-2008, and Actuals for 2006-2007. Include the Intercollegiate Athletic Budget.
2007-2008 Operating Budget Final Printing, Southern University System. Office Of Finance & Administration.
2007-2008 Operating Budget Final Printing, Southern University System. Office Of Finance & Administration.
All Southern University System Budgets
The Southern University System, Southern System Office Operating Budget 2007-2008 Final Printing.
Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu
Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu
Knowledge@SMU
At a recent Singapore Management University School of Economics Distinguished Lecture, Stanford University international economics professor Ronald I. McKinnon warned of a possible ‘lost decade’ of falling price levels and undesirably low interest rates in China, similar to those experienced by Japan in the 1990s. McKinnon draws parallels between Japan in the late 1980s and present day China in his paper entitled “Why China Should Keep its Exchange Rate Pegged to the Dollar: A Historical Perspective from Japan”. --------------------------------------------------------------------------------
An International Comparison Of Student Perceptions Of Earnings Management: Evidence Of Effects Of National Origin Between Mexico And The United States, Marshall A. Geiger, Carmen Quirvan, Alejandro Hazera
An International Comparison Of Student Perceptions Of Earnings Management: Evidence Of Effects Of National Origin Between Mexico And The United States, Marshall A. Geiger, Carmen Quirvan, Alejandro Hazera
Accounting Faculty Publications
Manipulating reported earnings is a temptation faced by accountants and financial professionals around the world. Manipulating, or “managing,” one’s accounting earnings takes a variety of forms and includes not only the avoidance of prescribed accounting rules but also the practice of selectively choosing accounting estimates or timing operating decisions to move reported earnings toward a desired goal. Prior research reveals wide disagreement regarding the perceived ethical acceptability of this practice. This study investigates whether national origin influences perceptions of earnings management. Participants from the United States and Mexico evaluated thirteen vignettes describing various earnings management practices (Merchant and Rockness 1994). …
Front Matter, Esr Review
Editor's Introduction: Finding Balance, Paul C. Godfrey
Editor's Introduction: Finding Balance, Paul C. Godfrey
Journal of Microfinance / ESR Review
No abstract provided.
Innovation Spurs Growth, Jasmine Mohanty, Jasmine; Panda, Debadutta K. Panda
Innovation Spurs Growth, Jasmine Mohanty, Jasmine; Panda, Debadutta K. Panda
Journal of Microfinance / ESR Review
Product innovations are different and specific to MFIs, but all focus on one feature: they are all geared toward providing a wider range of financial products and intermediation options. These innovations are the launching pad and competitive advantage for MFIs, but most people are confused about these innovations.