Business Commons^™

Bidding Strategies For Winning Construction Bids In South Africa, Momoh Vandi

Walden Dissertations and Doctoral Studies

The failure of small business managers to understand various bidding strategies leads to losing construction bids. The lack of management skills, limited access to markets, weak customer relationships, lack of appropriate technology, and government bureaucracy are problems small business managers face when preparing to bid for construction contracts. The purpose of this qualitative multiple case study was to explore bidding strategies small and medium enterprise business managers use to win construction bids. The participants comprised 5 business owners of small- and medium-sized construction enterprises in Johannesburg, South Africa. The conceptual framework was the theory of constraints. Data were collected using …

Business Funding Strategies For Women-Owned Small Businesses, Jefreda R. Brown

Walden Dissertations and Doctoral Studies

In the United States, limitations in funding allocation threaten the viability of small business success. In the United States, women start businesses at faster rates than men do, but women business owners continue to experience challenges in accessing capital to sustain their businesses. Grounded in pecking order theory, the purpose of this qualitative multiple case study was to identify business funding strategies women small business owners in Birmingham, Alabama, used to sustain their businesses for more than 5 years. The participants for this study were 3 women small business owners in Birmingham, Alabama, who have used business funding strategies to …

Strategies Small Business Leaders Implement For Outsourced It Solutions For Business Sustainability, Jessica A. Folkes

Walden Dissertations and Doctoral Studies

Small businesses in the United States have a high failure rate within their first 5 years of operation. Small business success is vital to the economy because it drives revenue, income, and job creation. Grounded in rational decision-making theory, the purpose of this qualitative multiple case study was to explore strategies small business owners and leaders implement for effective outsourced IT solutions for business sustainability. Data were collected from in-depth interviews with 10 purposefully selected business owners and leaders in the Houston, Texas, metro area and from a review of documentation from archival records. Yin's 5-step analysis guided the coding …

Harmonizing The Disjointed: Economic Integration And Risk Sharing, Samuel Acheampong

Theses and Dissertations--Economics

This dissertation consists of three essays examining the role of risk diversification in European markets. At the economy level the first two essays seek to identify whether economic integration efforts among European countries result in sharing risks to consumption with regional neighbors, as opposed to global partners. At the firm level, the third essay seeks to understand whether managers of large companies in the United Kingdom choose less financial leverage if they are specifically compensated with more cash bonus as opposed to other forms of performance incentives.

In Essay 1, I assess the extent to which European countries diversify consumption …

Foreign Corruption As Market Manipulation, Gina-Gail S. Fletcher

Faculty Scholarship

No abstract provided.

American Option Pricing: Optimal Lattice Models And Multidimensional Efficiency Tests, Qianru Shang, Brian Byrne

Articles

We introduce a set of lattice techniques to the Leisen‐Reimer and Tian binomial models with a view to accelerating computation time and improving accuracy of American Option valuation. A level of accuracy and efficiency combined can be achieved that surpass commonly used analytical analogues. We compare these efficient lattice models with analytical formulae for pricing different groups of options according to the deepness of American quality and moneyness. Our results reveal that counter to received wisdom, lattices constructs produce greater speed and accuracy for all option categories relative to the best performing closed form American analogues.

Crummer Suntrust Portfolio Recommendations: Crummer Investment Management [2020], Gerardo Abril, James Bishop, Eddie Cutillas, Shawn Fletcher, Bobby Suchor

Crummer Truist Portfolios

The Crummer Investment Management team has the responsibility of managing the Crummer SunTrust Portfolio. Guided by the investment policy statement, our team's focus was on making appropriate investment decisions based on the portfolio's overarching objectives. This year, we were mindful of protecting the value of the portfolio during periods of economic decline. Achieving this objective will allow us to generate cash to support on-going donations to Crummer's scholarship program. In a time of unprecedented economic uncertainty, we have created an economic outlook for the rest of 2020 through Q1 2021. We gathered information, studied economic indicators, and carefully watched the …

Fare Free Public Transportation Bus Systems: An Examination Of Funding Strategies To Replace Passenger Fare Collection, Amy Vanguilder

West Chester University Doctoral Projects

American public transportation systems have been moving people for more than a century. To some, the transit bus may alleviate frustrations related to finding parking or having to pay expensive parking fees. To others, public transportation may be their lifeline for all travel needs including work, school, medical appointments, and even recreation. While these direct benefits assist those citizens that do use public transportation, public transportation can also bring other benefits indirectly to society in the form of decreased congestion and pollution. As more and more people begin using public transportation systems, they will soon find that public transportation systems …

Uni Finance Newsletter, 2020, University Of Northern Iowa. Department Of Finance.

Department of Finance Newsletter

News about the activities of the Department of Finance.

Single Currency And The Liquidity In Corporate Assets Market, Kamolwan Pavavimol

Chulalongkorn University Theses and Dissertations (Chula ETD)

The single currency was adopted in 1999. It gave a huge impact on financial system. In this study, we focus on the single currency impacted to the liquidity in the corporate assets market, market whereby the mergers and acquisitions occurred. The studies found that the single currency had positive effect to the liquidity index in the corporate asset market measured by the intensity of the market transactions in each industry. This increasing in the liquidity mainly from the cross-border deals from the countries that stayed outside the eurozone. Moreover, we found that single currency had positive effect to acquirers to …

Armor Holdings Inc.: An Application Of The Foreign Corrupt Practices Act, Fatima Alali, Silvia Romero

Department of Accounting and Finance Faculty Scholarship and Creative Works

The U.S. Foreign Corrupt Practices Act (FCPA) has gained significant popularity in recent years across borders due to the increased investigation and penalties under the law. The following case is a real-life case that highlights the main provisions of the FCPA. Using cases in teaching an auditing or ethics course is much needed to develop students’ professional judgment, critical and analytical thinking skills and communication skills. Presently, there are a few cases that address the Foreign Corrupt Practices Act and its effect on financial reporting and auditor responsibilities about illegal acts. The Armor Holdings case is interesting and information is …

Mathematical Modelling For Multiproduct Epq Problem Featuring Delayed Differentiation, Expedited Rate, And Scrap, Singa Wang Chiu, Jia Ning Lin, Yunsen Wang, Hong Dar Lin

Department of Accounting and Finance Faculty Scholarship and Creative Works

The client requirements of present-day markets emphasize product quality, variety, and rapid response. To gain competitive advantages in marketplaces and meet customer needs, manufacturers today seek the most economical and fastest fabrication schemes and strategies to produce their various goods, especially when commonality exists within these multiple end products. Inspired by the above viewpoints, this study uses a mathematical modelling approach for solving a multiproduct economic production quantity (EPQ) problem featuring scrap, delayed differentiation, and expedited rate on the fabrication of the common part. We build a two-stage multiproduct fabrication scheme. Stage one uses an accelerated rate to produce all …

The Effect Of Gender On Ethical Investing, Delaney J. Housley

Honors Theses and Capstones

Prior literature related to gender and risk propensity would suggest that females are risk-averse, compassionate, and value ethics over return. This ideology of traditional gender norms stereotypically implies that females may be more likely to engage in ethical investing, as there is inherently less risk in investing in companies with strong corporate social responsibility. On the other hand, males are often portrayed as risk-seeking, competitively motivated, and valuing profits over principle, thus may be more willing to compromise ethics if the ends justify the means. The following paper seeks to investigate this relationship between gender and ethical investing, as examined …

Perceptions Of The Value Of Financial Education In African American Creditworthiness, Melvin Thomas Miller

Walden Dissertations and Doctoral Studies

Research suggests a disparity for African Americans within the banking system, as they are denied credit at a higher rate than other ethnic groups. The purpose of this phenomenological study was to explore the perceptions of African Americans financial training in regards to qualifying for consumer loans. The conceptual framework was based on seminal theories on credit risk assessment and critical race theory. The research questions were designed to address banking officials' perceptions of financial training and the effectiveness of training in improving African Americans' credit. A phenomenological design was employed with the purposeful sample of 9 banking officials within …

Employee Motivation And Knowledge Transfer In Nonprofit Organizations, Heidi Keam Nors

Walden Dissertations and Doctoral Studies

AbstractIneffective knowledge transfer strategies can negatively affect knowledge creation and employee motivation. Nonprofit business leaders who struggle with knowledge transfer among department staff are at a high risk of not improving employee motivation. Grounded in Kahn’s organizational theory on leadership and structure, the purpose of this qualitative multiple case study was to explore the knowledge transfer strategies used by nonprofit business leaders to transfer knowledge among departmental staff and to improve employee motivation. The participants comprised business leaders and staff, consisting of 2 executives, 2 managers, and 2 departmental staff members from a nonprofit charter school management company in North …

Buyer Beware: Variation And Opacity In Esg And Esg Index Funds, Dana Brakman Reiser, Anne Tucker

Faculty Publications By Year

Evidence of the tremendous rise in the significance of environmental, social, and governance (ESG) investing is coming from all quarters. Fund flows into ESG investment vehicles are growing at a sustained and sometimes exponential pace. Fund complexes are rushing to design products, creating and rebranding scores of mutual funds and exchange traded funds (ETFs), including lower-cost indexed options. Industry leaders, critics, and commentators are all heralding the sea change as a shift in investing - and corporate governance - to more broadly consider environmental and social factors.

This Article provides vital context for this conversation. Its descriptive account of the …

Enhancing Rescue In Chapter 11: Lessons From Reform Efforts In The United Kingdom, Robert J. Landry Iii

Research, Publications & Creative Work

This is a dynamic time for insolvency law. Many jurisdictions have or are considering reforms to their insolvency regimes. The U.K. has proposed a new standalone restructuring mechanism that incorporates many attributes of Chapter 11, including a cross-class cram down and the absolute priority rule. A distinctive feature of the U.K proposal is the infusion of judicial discretion permitting courts to deviate from the absolute priority rule. This discretion is not permitted in the U.S. This judicial discretion addresses a key problem with the application of the absolute priority rule in the U.S. – it serves as an impediment to …

How Deposit Insurers' Fund Managers Compute Coverage Limits, Noel Trevor Patrick Nunes

Walden Dissertations and Doctoral Studies

AbstractFollowing the 2007–2008 global financial crisis, the Financial Stability Board identified several areas of weakness in the delivery of deposit insurance, among other interventions. One of the key recommendations related to the use of data by deposit insurers to make their coverage limits more robust. The purpose of this quantitative non-experimental cross-sectional study was to test the impact of 4 data sets—aggregate bank risk, the aggregate value of insured deposits, the DIF size, and premium levy—on the deposit insurance coverage limit. The investigation comprised a pilot study and a survey of deposit insurers from the International Association of Deposit Insurers …

The Effects Of Csr And Female Presence In Corporate Governance On Firm Tax Avoidance, Madeline Karlberg

Honors Theses and Capstones

No abstract provided.

How Efficient Is Market Pricing: Can Investors Beat The Market? Further, Are Prices Always Right As Stated In The Efficient Market Hypothesis?, Porter M. Mcmanus

Honors Theses and Capstones

The Efficient Market Hypothesis is a widely accepted economic theory developed by economist Eugene Fama. The theory states that at any given time, an asset’s price reflects all available public information and will always trade at fair value. The motivation for this research is derived from the content taught in undergraduate finance courses. In undergraduate academia finance students are introduced to the idea of market efficiency, as it is a building block for future theory and application. However, this theory is rarely questioned in the world of undergraduate academia, rather just taken as fact by students.

The underlying research in …

Healthcare Stocks And Presidential Elections, Jake Yennaco

Honors Theses and Capstones

In this study I examine the impact presidential elections have had on health care stock returns. Through my own data collection and analysis, I sought to examine the performance of stocks across election cycles in addition to the performance of healthcare stocks across election cycles. Using data from 1998-2019 I find that 1.) In election years, the stock market underperforms relative to non-election years; 2.) Healthcare stocks underperform the broader market during election years; 3.) The impact on healthcare stocks is consistently poor in election years yet contained to only that year; 4.) The Presidential Election Cycle, stating that stocks …

The Future Of Actively Managed Funds, Oliver M. Botthof

Honors Theses and Capstones

This study analyzes the relationship between actively managed U.S. equity funds and passively managed U.S. equity funds over the past 20 years. This study concludes with a prediction as to where these markets are headed based off related literature and regression based tests run a a sample of funds.

The Impact Of Tax Breaks & Incentives For Corporations On Local Economies, Chad Supranowicz

Honors Theses and Capstones

One of perhaps the most pressing political debates since the 2016 Presidential election has been centered around the impacts of the many tax breaks and incentives given to large corporations. These breaks, used most often to draw a company to a certain geographic area, are typically granted with good intention. For example, a local or state government will pursue a company by enticing them to relocate to their area in order to help boost their economy because people, jobs, and money will come with them. This can also lead to spin-off development, meaning even more people could flock to the …

Strategies To Integrate Technological Innovations For Caribbean Small- And Medium-Sized Enterprises, Deborah J. Mahabir-Yearwood

Walden Dissertations and Doctoral Studies

Up to 59% of managers in small and medium sized enterprises (SMEs) fail to integrate technological innovation (TI) strategies. Restricted access to sophisticated technology, limited capital, and discontinuous collaborations between SMEs and government organizations hamper the successful integration of TI by managers of Caribbean SMEs. Managers of SMEs in the Caribbean region must exploit strategies for improved efficiencies in operational capacity, continuous development in business profits and growth, and surviving hyper-competition. Grounded by the theories of diffusion of innovation and adopter-based instrumentalist, the purpose of this qualitative multiple case study was to explore strategies that 4 operation managers of SMEs …

Environmental Governance For Whom? Examining The Political, Institutional, Fiscal, And Legal Determinants Of State Environmental Agency Budget Policy In The Us, Andrew R. Duggan

Theses and Dissertations

Budgets are a prospective tool of governance, and appropriations are a planning vehicle reflecting: bureaucracies’ values, complex interactions, collective preferences, political influences, and available resources. Research spanning 30 years finds that environmental pollution is a key determinant of environmental budgets in the US, though myriad factors, actors, and subsystems are important to consider. Due to federalism and devolution of responsibilities and authorities, environmental governance falls largely to the states. While the dynamics that shape state environmental budget policy have received scholarly interest, theoretically-driven examinations of environmental appropriations remain limited within the public budgeting and environmental policy literature.

Using panel data …

Risk Management And Hedging Approaches In Energy Markets, Jim Hanly

Articles

Energy based assets are showing increased susceptibility to volatility arising out of geo-political, economic, climate and technological events. Given the economic importance of energy products, their market participants need to be able to access efficient strategies to effectively manage their exposures and reduce price risk. This chapter will outline the key futures based hedging approaches that have been developed for managing energy price risk and evaluate their effectiveness. A key element of this analysis will be the breadth of assets considered. These include Crude and Refined Oil products, Natural Gas, and wholesale Electricity markets. We find significant differences in the …

Newman/Martoma: The Insider Trading Law's Impasse And The Promise Of Congressional Action, Tai H. Park

Fordham Journal of Corporate & Financial Law

The prohibition against insider trading is a judge-made law that has evolved for over fifty years, and has reached a critical impasse in two recent decisions in the Second Circuit Court of Appeals: United States v. Newman and United States v. Martoma. Judges of the Second Circuit are sharply divided over what conduct constitutes improper trading on material nonpublic information (“MNPI”), leaving the law in profound disarray. At bottom, the disagreement stems from a decades-old split within the judiciary about how to (1) ensure a fair securities marketplace, while (2) enabling institutional analysts to probe for corporate information in furtherance …

Multilateral Transparency For Security Markets Through Dlt, David C. Donald, Mahdi H. Miraz

Fordham Journal of Corporate & Financial Law

For decades, changing technology and policy choices have worked to fragment securities markets, rendering them so dark that neither ownership nor real-time price of securities are generally visible to all parties multilaterally. The policies in the U.S. National Market System and the EU Market in Financial Instruments Directive— together with universal adoption of the indirect holding system— have pushed Western securities markets into a corner from which escape to full transparency has seemed either impossible or prohibitively expensive. Although the reader has a right to skepticism given the exaggerated promises surrounding blockchain in recent years, we demonstrate in this paper …

The Layers Of Digital Financial Innovation: Charting A Regulatory Response, Teresa Rodriguez De Las Heras Ballell

Fordham Journal of Corporate & Financial Law

The increasing penetration of digital technologies in financial markets is evidenced by promising adoption rates among users, expanding presence of fintech firms and bigtech providing techfin services, and the growing use of fintech solutions by incumbents. The increasingly popular term "fintech" captures the accelerated transformation of contemporary financial markets driven and enabled by technology, and encapsulates its multifarious potential impact on services, market structures, and business models. This Article first aims to devise and propose an analytical framework to understand the digital challenges to financial regulation based on the "layers of digital financial innovation" theory. Accordingly, digital innovation (fintech) is …

Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts, John Beshears, James J. Choi, Mark Iwry, David John, David Laibson, Brigitte C. Madrian

Faculty Publications

Many Americans live paycheck to paycheck, carry revolving credit balances, and have little liquidity to absorb financial shocks. One consequence of this financial vulnerability is that many individuals use a portion of their retirement savings during their working years. For every $1 that flows into 401(k)s and similar accounts, between 30¢ and 40¢ leaks out before retirement (Argento, Bryant, and Sabelhaus 2015). We explore the practical considerations and challenges associated with helping households accumulate liquid savings that can be deployed when urgent pre-retirement needs arise. Automatically enrolling workers into an employer-sponsored “rainy- day” or “emergency” savings account—terms that we use …