Business Commons^™

Financial Literacy, Risk Perception, And Investment Preferences: A Study On Millennials In Jakarta, Aziz Wisnu Putra, Maria Eurelia Wayan

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

The investment trend in Indonesia has increased with the presence of investors categorized as the millennial generation. The determination of investment instruments selected is influenced by the level of financial literacy and risk perception of the investors. This study aims to analyze how financial literacy and risk perception affect investment preferences amongst the millennials. Using the millennials in the five municipalities of Jakarta as a case in point, this study contributes to providing analytical data and an overview of the level of financial literacy and risk perception as well as the investment preferences of the millennial generation. The findings of …

Neutralization Of Fuel Tankering Emissions For Environmental Sustainability, Peter O'Reilly, Maria Petrescu, Fabricio Sulzbacher, Diogo Coutinho

National Training Aircraft Symposium (NTAS)

As aviation has been one of the fastest-growing sources of emissions, this paper explores sustainable solutions in the equation of the economic savings from the fuel tankering practice, in a way it could represent gains of credibility for this industry (Boussauw & Vanoutrive, 2019). The fuel expenses in Brazil have been responsible for the highest operational cost for the airlines and, as a result, there has been an ongoing pursuit of the highest level of efficiency (ANAC, 2019). In this context, this study has been focused on the emerging Brazilian aviation market, and uses primary data collected from three major …

The Cost Benefit Analysis Of College Dropouts Pursuing A Different Career Vs. Students That Graduated From College, Brittany Jackson

Honors Theses

For my thesis project, I will be analyzing two sets of data pertaining to these different groups; one group will be college dropouts that chose to pursue a career without earning a college degree and the other group will be students who graduated from a four-year college degree program. I will be paying close attention to the financial success of individuals in both groups based on their career path. Also, focusing on the amount of money one group makes versus the other group various careers. Some careers include, being a YouTuber, Social Media influencer, Financial Analyst, Accountant, Entrepreneur, Entertainer, and …

Research@Smu: Sustainable Living, Singapore Management University

Research Collection Office of Research

Sustainable Living is one of the three key priorities of the SMU 2025 Strategy, and the University is committed to develop it into an area of cross-disciplinary strength. The articles in this booklet highlight impactful sustainability research accomplishments at SMU, which spans five broad pillars: Sustainable Business Operations; Sustainable Finance and Impact Assessment; Sustainable Ageing and Wellness; Sustainable Urban Infrastructure; and Sustainable Agro-business and Food Consumption.

Contents:

Sustainable Business Operations

• Managing the Load on Loading Bays
• Going the Last-mile
• Feeding a Growing World
• Pooling the Benefits of Sharing a Ride

Sustainable Finance and Impact Assessment

• When Going Green Becomes a …

Tiger Investment Partners. “To Stream Or Not To Stream” Case Study, Roger R. Schnorbus

Robins School of Business White Paper Series, 1980-2022

Tiger Investment Partners (TIP) TIP is a boutique technology investment firm in Richmond, VA. It was founded in 2012 by its three principal partners and is managing over $300 million in investment funds. Its stated mission is to someday be as successful as Berkshire Hathaway with a focus on firms that were or would be major disruptors in their given industries.

The Relationship Between Increased Wages And Nurse Satisfaction And Intent To Stay, Jean Andres

College of Health Sciences Posters

The recent COVID-19 pandemic contributed to a negative climate in healthcare and increased the workforce demands of nurses leading to decreased satisfaction and an unprecedented staffing crisis. Further compounding the problem, staffing agencies have offered fiscally lucrative contracts that enticed experienced nurses to leave permanent staff positions for external contract agency nursing.

Research Questions for this study are as follows:

• RQ1: What is the relationship between increased wages and nurse satisfaction?
• RQ2: What is the relationship between increased wages and intent to stay?
• RQ3: What is the relationship between demographic variables and nurse satisfaction?
• RQ4: What is the relationship demographic …

Generalization Of Digital Innovation For Financial Inclusion By Means Of Market Creation Through Regulation And Governance, Varsolo Sunio, Jaime Mendejar, Justin Reginald Nery, Jose Paolo Carlos

Finance and Accounting Faculty Publications

Achieving financial inclusion in shorter timeframes is a grand societal challenge that can be addressed by digital technology. Nonetheless, how an innovative digital technology gets generalized is understudied in the literature. We present the generalization of a cloud-based core banking system to drive financial inclusion in the Philippines. We draw our material from the case of cloud-based core banking system adoption in the Philippines. Our results show that market formation is essential to the generalization, and this can be accomplished through a mix of laissez-faire and dirigisme mechanisms. Pure laissez-faire mechanisms alone, with minimal intervention from the central bank, may …

Accounting Reporting Complexity, Audit Engagement Partner Mandatory Rotation, And Audit Quality, Clement Chen, Zhenfeng Liu, Wenye Tang, Ling Tuo

Accounting Faculty Publications

This paper investigates the influence of a firm's accounting reporting complexity (ARC) on financial statement audit quality. We predict and find that there is a non‐linear relationship between a firm's ARC and audit quality. Specifically, a more complex accounting environment—measured by ARC—leads to higher quality audits, but this effect diminishes when ARC continues to increase. Further analyses reveal that the effect is more salient among client firms that do not purchase non‐audit services (NAS). We also examine whether ARC affects audit quality in the circumstance of mandatory audit partner rotation. Empirical results show a moderating effect of ARC on the …

Problems With Machine Learning, High-Dimensional Data And Forecasting Stock Returns, Erik Mekelburg

Electronic Theses and Dissertations

Using a multi-level ensemble design, we forecast international stock market returns with a novel high-dimensional data set of aggregated cross sectional firm-level predictors. The method includes considerations of model uncertainty, parameter instability, model density and non-linearities with machine learning, shrinkage and model averaging. We provide evidence that it is important to systematically focus on all four sources of forecast failure, shed light on the sparsity/density debate in the stock return forecasting dialogue and contribute interesting findings on the efficacy dimensionality reduction with principal components analysis and partial least squares. The robustness of the approach is demonstrated through applications in four …

Understanding Hospital Chargemasters : Impact On Healthcare Finance, Alesia Moorman

Theses, Dissertations and Capstones

Introduction: This research delves into the critical examination of hospital chargemasters, exploring their intricate role in the complex landscape of healthcare finance. As the healthcare industry grapples with the challenges of balancing medical care and fiscal responsibility, the hospital chargemaster emerges as a dynamic entity, reflecting the interplay between healthcare providers, insurers, and patients. Beyond being a mere ledger of prices, the chargemaster influences the entire Revenue Cycle Management (RCM), impacting financial stability, patient satisfaction, and the effectiveness of healthcare delivery. Originating from the necessity to navigate reimbursement complexities, the chargemaster has become central to hospitals' financial strategies, shaping and …

Tactical Allocation Through The Lens Of Correlational Time-Variance, Determinants, And Regimes, T.H. Williams

Electronic Theses and Dissertations

We investigate correlations among six primary asset classes from January 1982 to December 2022. Our analysis extends existing literature, on the well-researched stock-bond correlation (SBC), by encompassing 14 supplementary asset class dyads and four correlational regimes. We challenge the archetype of correlational time-invariance that underlies buy-and-hold asset allocation strategies by implementing structural break tests and an innovative Wavelet Coherence (WC) methodology, where our findings reveal temporal instability. Through a multi-method statistical approach, we present robust and persuasive evidence of macroeconomic factors as determinants of temporal change. Leveraging time-varying Granger causality, we unearth elusive yet significant relationships. Our research pivots to …

The Competitive Environment Of U.S. Community Banking: A Nationwide Survey Of Rural And Metropolitan Community Bankers, Robert D. Morrison, Dave Jackson, Joo Y. Jung

Finance Faculty Publications

Prior empirical research found that in the United States, rural community banks earn higher profits than their metropolitan counterparts and have lower risk loan portfolios as well. Investigating community bank failures since 2000 we find support for the competition-fragility view that increased competition in banking correlates with an increase in bank failures based on the finding that preponderance of US bank failures are community banks in metropolitan areas where they face direct competition from multiple large banks. This study tests seven hypotheses using a nationwide survey of community bankers. The results indicate metropolitan bankers perceive an intense competitive environment where …

Strategies To Sustain Small Businesses In The Texas Retail Fashion Beyond 5 Years, Musa Moses Raymond

Walden Dissertations and Doctoral Studies

Owners of small- and medium-sized enterprises (SMEs) confront different hurdles,including difficulties with business registration, a lack of government support, and bureaucracy, thus, may require different strategies to achieve business longevity. The strategies that SME owners use to sustain their businesses past 5 years, a critical benchmark, are not fully understood, the purpose of this study was to explore strategies SME owners use to sustain their business operations beyond 5 years. The conceptual framework consisted of systems theory and the Six Sigma define, measure, analyze, improve, and control model. The participants were five SME senior-level managers at five fashion retailers in …

The Budget, Fiscal Year 2023-2024, Tennessee. Department Of Finance And Administration

Budget Volume 1

This document is the final budget for the coming fiscal year.

Essays On The Effect Of Corporate Social Responsibility (Csr) On Financial Decisions, Min-Jeong Kwon

Wayne State University Dissertations

Stock repurchases are controversial. Researchers often view the positive association between free cash flow and the volume of the stock repurchases to be in the shareholders’ interest and the positive association between executive options and stock repurchases to be in the managers’ interest. Using firms’ corporate social responsibility (CSR) ratings as a measure of ethical culture—one that increases the cost of self-serving behavior for managers— we examine whether a firm’s CSR rating is related to its stock repurchase decisions. Although the baseline regression shows a positive association between CSR and repurchases, we find that CSR amplifies the positive association between …

2023 Crummer Truist Portfolio Recommendations: Crummer Investment Management 24th Anniversary, Davis Moshier, Matej Susec, Sarah Butterfield, Judith Laskowski, Nicholas Disa, Miguel Castro Morales, Jaxon Mills, Zak Abed

Crummer Truist Portfolios

We would like to thank you for your service to the Crummer Truist Portfolio. Without your participation, Crummer students would not benefit from the unique insight you bring to managing an active portfolio. We have been fortunate to listen and learn from some outstanding guest speakers who have been generous with their time and expertise: Phillip Rich, Chief Investment Officer, Seaside Bank; Sarah Passero, Senior Consultant, EY; Shawn Fletcher, Financial Analyst, The Walt Disney Company; Ryan Abronski, Venture Capital Associate, Morgan Creek Digital; Robert Zhang, Senior Research Analyst, DePrince, Race and Zollo; Dr. William Seyfried, Professor, Crummer Graduate School of …

Does Observability Of Downgrade Risk Matter For Corporate Investment?, Thanwarat Limwattananukul

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study examines firms’ capital investment decisions in relation to their credit ratings. As firms approach near-BBB credit ratings, they tend to change their behavior due to the fear of a downgrade. I found that, in general, Thai firms’ credit ratings do not influence investment decisions. However, as firms near BBB ratings, their behavior tends to shift. To clarify, firms at the lower end of the investment grade are inclined to make conservative investment decisions due to the risk of being downgraded to speculative grade. Therefore, the threat of a downgrade to speculative grade encourages managers to adopt more conservative …

The Effect Of Bank Liquidity Creation On Performance And Stock Returns: Evidence From Thailand, Wanlaya Boonsongkhoh

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study investigates the relationship between bank liquidity creation, performance, and stock returns across 11 banks in Thailand from 2012 to 2021, spanning the economic crisis in Thailand and the COVID-19 pandemic. Liquidity creation measures the extent to which banks generate a money supply for the public, classified into liquidity created on the balance sheet and liquidity created both on and off the balance sheet categories. After controlling for macroeconomic and bank-specific variables, the results of a fixed-effects regression model reveal that next-period performance and stock returns deteriorate as liquidity creation levels increase. An inverted U-shaped relationship between liquidity creation …

The Effect Of Goodwill Impairment Avoidance On Future Performance Growth: Evidence From Thailand, Chantanit Limapichat

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study explores the impact of goodwill impairment avoidance on the future financial performance growth of firms listed on the Stock Exchanges of Thailand (SET). Spanning 14 years from 2008 to 2021, the research analyzes 405 observations from 124 distinct firms, utilizing multivariate regression models to uncover the relationship. The study also focuses on understanding how Big 4 auditors can impact this dynamic. The study finds evidence that firms avoiding timely goodwill impairment exhibit lower performance growth in the subsequent year. Interestingly, the negative impact of goodwill avoidance is less pronounced for firms audited by one of the Big 4 …

Momentum Crashes And The 52-Week High, Byoung-Hyun Jeon, Suk-Joon Byun

Finance Faculty Research and Publications

Momentum strategies suffer from occasional large drawdowns referred to as momentum crashes when the market rebounds. We find that a surge of investor speculation toward stocks far from their 52-week highs can partially explain the momentum crashes. If a momentum strategy is revised to be neutral on a 52-week high effect, momentum crashes are significantly attenuated and the revised strategy does not exhibit procyclical returns. Furthermore, the revised strategy generates a higher Sharpe ratio in different sub-periods and international stock markets.

Adaptive Learning Gain In Asset Pricing, Sedealy Juste Lokossou

Electronic Theses and Dissertations

This paper delves into the complexities of asset pricing, emphasizing the need to go beyond prevailing paradigms and constant learning gain assumptions. We examine the influence of personal experiences, adaptive learning processes, and subjective return expectations on asset pricing. By incorporating the concept of time-varying learning gain, we provide a more realistic portrayal of asset pricing. Empirical analysis reveals a consistent negative correlation between experienced real payout growth and subsequent returns, indicating counter-cyclical behavior. Our findings also support the mean-reversion hypothesis in stock returns, although caution is needed due to some scenarios lacking statistical significance. Theoretical exploration uncovers that higher …

Strategies Community Bank Managers Use To Address Rising Financial Regulations Compliance Costs, Therese Hortense Ngini

Walden Dissertations and Doctoral Studies

Increasing financial regulations compliance costs have the potential for adverse business outcomes for community banks. Community bank managers are concerned about increasing financial regulations compliance costs because it is the number one predictor of community banks’ failures. Grounded in the resources-based view theory, the purpose of this qualitative single case study was to explore strategies that community bank managers use to mitigate increasing financial regulations compliance costs. The participants were 10 community bank managers and senior staff of a community bank in Maryland who successfully mitigated increasing financial regulations compliance costs. Data were collected using semistructured interviews and reviewing the …

Blackstone Launchpad University Of Montana Strategic Analysis/Jacob Treece Honors Capstone Report, Jacob R. Treece

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

The Historic Returns Of Gold: Is It The Best Hedge Against Inflation?, Jack William Gillis

Honors Theses and Capstones

The world of investing is rapidly changing as technologies advance. In the past few years especially, we have seen many investors shifting toward decentralized digital money, or what is known as cryptocurrencies. Even with these new asset classes coming out, there has always been one commodity that has stuck around. Gold has been used as a store of value for millenniums. Investors tend to rely on gold because it’s believed to be a safe-haven asset, in times of economic uncertainty. This paper aims to determine whether or not this traditional mindset is still effective in today’s ever-changing investment environment. To …

Improving Financial Resiliency To Provide Accessible Community Services During Emergency Conditions Through Strategic Planning, Maria Elisa Colmenares

Walden Dissertations and Doctoral Studies

The study site organization lacked financial resilience to ensure the provision of social services to populations reliant on these services, including before, during, and after emergency conditions. The purpose of this mixed-methods case study was to provide strategic planning recommendations to increase financial resilience and describe the unique partnership between the client agency and the nonprofit arm. The study addressed strategies to increase the financial resilience needed to sustain the organization’s core mission, and strategies the agency can use to provide community services before, during, and after emergencies such as COVID-19, hurricanes, or severe storms. A strengths, weaknesses, opportunities, and …

The Impact Of Covid-19 Pandemic On Islamic Health Insurance Market Returns: Empirical Evidence From Saudi Arabia, Mohamed Zakaria Fodol, Hakan Aslan

The Indonesian Capital Market Review

This study aims to identify the impact of COVID-19 on the Cooperative Health Insurance (CHI) Market in Saudi Arabia by applying the Event Study Methodology. The announcement of the first positive case of COVID-19 in Saudi Arabia, which the Ministry of Health announced on March 2, 2020, is the health event identified in this study. The daily price of 24 cooperative health insurance companies listed on the Saudi Stock Market (Tadawul) with the market index (TASI) for the same period (June 05, 2018 - March 30, 2020) was collected. The abnormal returns are calculated by using Capital Asset Pricing Model …

Financial Innovation And Restriction Hypothesis In The Banking Industry: Evidence From Asean- 5, Yosman Bustaman, Viverita Viverita, Margaretha Tp Lingga, Antonius P. Siahaan

The Indonesian Capital Market Review

This study investigates the financial innovation impact on bank market power in ASEAN banking from 2008 to 2018. It uses income diversification as a representative of financial innovation. The im- pact of countries’ development of financial innovation on market power is measured by the number of ATM, internet, and cellular phone users. The data panel regression model reveals that diversified banks may enjoy higher market power. This result rejects the banking restriction activity hypothesis, which states that a bank that diversifies its income stream results in increased competition. A higher number of available ATMs and more internet users lowers the …

Assessing The Impact Of Financial Obstacles On Manufacturing Firm's Capacity Utilization: Bayesian Approach, Arab Dahir Hassan, Razim Ozcan

The Indonesian Capital Market Review

This study aims to investigate the relationship between financial obstacles and the capacity utilization of manufacturing firms. This study departs from previous studies in the literature by employing Bayesian linear regression analysis. The results demonstrate that financial constraints have a considerable negative effect on the capacity utilization of manufacturing enterprises, but access to credit lines has a positive effect. The sample consists of 1,494 private manufacturing firms in 31 Europe & Central Asian countries. Financial obstacles were perceived as the major impediment to business operations by 65% of the enterprises in the survey. Furthermore, 52% of enterprises in the sample …

How Do Sustainability Stakeholders Seize Climate Risk Premia In The Private Cleantech Sector, Lingyu Li, Xianrong Zheng

Information Technology & Decision Sciences Faculty Publications

This paper explores the strategies and practices of capturing climate risk premia for venture capital (VC) fund managers and entrepreneurs in the private cleantech sector. It also examines the impact of the feed-in tariffs (FITs) policy on the management of cleantech investments. It is shown that a longer investment period, less investment capital in cleantech investment management strategies, and optimistic climate risk management practices will help investors to better capture climate risk premia. In fact, the FITs policy will give rise to VC fund managers and entrepreneurs having a positive view regarding the prospects of the cleantech sector, motivating them …

Money Creation And Bank Clearing, Nadav Orian Peer

Fordham Journal of Corporate & Financial Law

Like many other countries, the U.S. money supply consists primarily of deposits created by private commercial banks. How we understand bank money creation matters enormously. We are currently witnessing a debate between two competing understandings. On the one hand, a long-standing conventional view argues that bank money creation originates in individual market transactions. Based on this understanding, the conventional view narrowly limits the scope of banking regulation to market failure correction. On the other hand, authors in a new legal literature emphasize the public aspects of bank money creation, characterizing it as a “public franchise,” a “public-private partnership,” and part …