Business Commons^™

Momentum, Nonlinear Price Discovery And Asymmetric Spillover: Sovereign Credit Risk And Equity Markets Of Emerging Countries And, Geoffrey M. Ngene

LSU New Orleans Theses and Dissertations

In Chapter 1, I hypothesize that there is a differential response by agents to changes in sovereign credit or default risk in both quiet (low default risk) and turbulent markets (high default risk). These market conditions create two different states of the market (world) or regimes. Investors and policy makers respond differently in the two regimes but the response in the turbulent market condition is amplified as policy makers attempt to smoothen the fluctuations and uncertainty while investors rebalance their portfolios in an attempt to hedge against downside risk of wealth loss. In the two regimes, the short run and …

Two Essays In Islamic Finance And Investment, Hesham J. Merdad

LSU New Orleans Theses and Dissertations

The main purpose of this dissertation is to lessen the gap in the Islamic finance and investment literature by providing new answers to the most vital question raised in that literature: Is the adherence to the Shariah law associated with at any cost?

The first chapter provides a primer on Islamic finance. It discusses several restrictions and necessary adaptations that must be made to have a Shariah-compliant product. The takeaway is that Shariah law mandates is related to fundamentals and, thus has a direct effect on the risk-return profile of all sorts of different products. This is referred to as …

Risk Aversion And Former Collegiate Athletes As Financial Investors, Tyler Buccetti

College of Management Honors Theses

Risk aversion is a concept that tries to understand an individual’s choice, when two options are presented with different levels of risk and reward. This concept can be applied to finance when looking at investors decisions to invest in options with different levels of risk and returns. This study examines if having played a collegiate sport will impact the level of risk aversion an investor has. In order to determine this, an experiment was given to Graduate students working on a Master’s degree in business. The experiment consisted of six different stock options representing different levels of risk. From this …

Online Music Piracy In College-Age Students, Jasmine D. Allen

Honors Theses

The purpose of this study is to assess the demographic profile of online music pirates and to assess how the magnitudes of various existing constructs differ according to gender. To reach conclusions as to which kinds of college students engage in online music piracy and their reasons for doing so, a campus-wide online survey that assessed the demographic information and piracy motivations of participants was offered to college students at a university. There is a need for this study because it will further contribute to a growing knowledge base that offers explanations as to why individuals partake in acts of …

Two Essays On The Sell-Side Financial Analysts, Xi Liu

USF Tampa Graduate Theses and Dissertations

In the first essay titled "The Information Role of Analysts' Contrarian Revisions," I study a special group of revisions: contrarian revisions, defined as recommendation changes that are inconsistent with sizable stock price movements during the past week. I find that contrarian revisions are relatively more informative than trending revisions. In particular, contrarian revisions are associated with a both statistically and economically larger post-announcement drift. I also find contrarian downgrades are less likely to be issued by all-star analysts and analysts with more experience. After implementation of Regulation RD, the market reaction to contrarian revisions issued by all-stars significantly decreases, indicating …

Parallel Session: Home-Based Female Entrepreneurs In Pakistan: An Exploratory Case Study, Faryal Salman, Amber Gul Rashid

International Conference on Marketing

Pakistani female entrepreneurs have received increasing attention in recent years as part of various initiatives. However, home-based female entrepreneurs still seem to be relegated to the background and have not received sufficient attention in academia or industry. In order to ensure that these female entrepreneurs are not only understood but also facilitated (if possible), it is crucial to understand how they function. These entrepreneurs are very often one of the key – yet unfortunately seldom acknowledged - enablers of economic activity. Given Pakistan‟s economic issues, these unsung heroines need to be nurtured. It is hoped that this case-based paper will …

Monte Carlo Simulation And Risk Assessment In Capital Bugeting, Caitlin Gallagher

Honors Scholar Theses

A capital budgeting case study involving determination of relevant cash flows over a projects life then the calculation of a number of decision criteria to determine if project should be accepted. Then risk will be incorporated using two methods of risk adjustment: scenario and sensitivity analysis. The findings will guide the state of the art Monte Carlo simulation using continuous and discrete probability distributions to model the risk of cash flow inputs. Using @Risk software as an Excel add in simulations will be run to determine a large number of decision variables. A comparison of cost of capital from each …

Analysis Of The Upscale/Fine Dining Sector In The Restaurant Industry, Volha Ban

MBA Student Scholarship

Upscale segment of the restaurant industry makes up approximately 10% of total U.S. restaurant sales (Trends in Fine Dining, 2011a). Severe impact of the economic downturn on the fine-dining segment demonstrated the 13% decline in customer visits in 2009 what triggered steep decline in sales.

In 2011 industry experienced positive tendency and renewed interest to high-profile steakhouse chains and upscale seafood restaurants. As National Restaurant News stated “…fine-dining restaurants will remain popular as long as they continue to offer individuality, food quality and more casual setting …”(Trends in Fine Dining, 2011a). Trend of casualization in fine dining led to the …

Corporate Social Responsibility: Fallacies And Flaws, Christina Blundin

MBA Student Scholarship

Over time, the ideals of business and society have become discordant from one another. When exactly this occurred is not as important as the effects it has had. When society began asking more from business, it voiced its concerns over companies solely existing to create profits, as well as their lack of responsibility to society. Consequently, businesses were coerced into performing acts of Corporate Social Responsibility (CSR), and philanthropy, to justify the profits they receive. However, in the pursuit of CSR, both business and society got short changed. They misconstrued the tenants of CSR. Each thought that it was the …

Bric Ipos: How Do Capital Market And Economic Activities In Emerging Markets Relate?

Fordham Business Student Research Journal

Since the beginning of the millennium, the acronym BRIC has captivated the world and become synonymous with an extraordinary economic growth story that has defined the first decade of the 21st century. Along with newfound prosperity, entrepreneurs in the BRIC countries (Brazil, Russia, India and China) have been opening themselves up to further growth opportunities for investors all over the world through equity financing by issuing IPOs. This paper primarily attempts to explore the relationship between the capital market activities of the BRIC countries and their corresponding economic indicators. In the past decade, IPO activity has witnessed a rapid increase …

Can The Next Housing – And Financial Crisis Be Averted?, Singapore Management University

Perspectives@SMU

Global financial systems and economies are still far from recovering from the recent financial crisis triggered by the burst of the American housing bubble. Naturally, the investment community, the academia, and of course, the regulators would be keen to find out how to prevent history from repeating itself.

Response Of Long-Term Interest Rates To Overnight Interest Rates In The United States, Charles Kweku Konadu-Adjei, Roger W. Mayer, Wen-Wen Chien

Walden Faculty and Staff Publications

The behavior of the long-term interest rates is a practical problem for private and public organizations. Organizations need to estimate interest rates for purposes of assigning value to long-term obligations such as defined benefit plans and long-term leases and making decisions related to long term capital purchases. The purpose of this study was to analyze the determinants of long-term interest rates in the United States, using 352 quarterly time series data points extending from 1999 to 2009. This study examines how a change in overnight interest rates, budget deficit, Gross Domestic Product (GDP), inflation, and net capital inflow impact on …

The American Public Comprehensive University: An Exploratory Study Of The President's Role In Fundraising, Robert L. Jackson

Dissertations

The purpose of this exploratory study was to examine America’s 272 public comprehensive universities and the president’s role in fundraising in order to better understand this unique group. In addition, this study examined the president’s background, training, duties, and specific involvement in the fundraising process. Also, this study reviewed what background and training would have been helpful prior to and during a presidency in preparation for these duties and responsibilities.

Previous studies stated that presidents ranked fundraising as the number one area where they were least prepared when they assumed their new role. In addition, many university presidents reported that …

Student Pressures And The Arkansas Academic Challenge Scholarship, Morgan Stellpflug

Management Undergraduate Honors Theses

My research topic was inspired by my experience as a Resident Assistant through University of Arkansas Housing. Through this position, I have worked closely with students and developed an understanding of the concerns that result from entering college. Students’ financial situation, one of the most fundamental of the concerns, revealed an interesting pattern. Many students that attend the University of Arkansas are Arkansas residents who have received financial support through the Arkansas Academic Challenge Scholarship, a scholarship now supported by the Arkansas Scholarship Lottery. Many of these students also still experience financial burden. Together these facts bring up many questions. …

State Based Determinants Of Inward Fdi Flow In The Us Economy, Lucyna Kornecki, E. M. Ekanayake

Accounting, Economics, Finance, and Information Sciences - Daytona Beach

Inward foreign direct investment (FDI) represents an integral part of the US economy. The flow of international capital has been a key factor expanding economy. The inward US FDI constitutes important factor contributing to output growth in the US economy. This paper investigates factors affecting the inward FDI flow among fifty states of the United States. The analysis uses annual data for the period from 1997 to 2007. The study identifies several state-specific determinants of FDI and investigates the changes in their importance during the study period. Our results show that among the major determinants, the real per capita income, …

The Archway Investment Fund Semi Annual Report, May 2012, Bryant University, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Attributes For Successful Fund Management: Experience Or Education?, Knowledge@Smu

Knowledge@SMU

Successful fund management is no longer about having “rock star” fund managers, but a team, made up of mutually respecting members bringing them with a mix of the right education, and the relevant experience, said Simon Davies, executive chairman of Threadneedle Investments, at a seminar at SMU.

Strategic Decisions And Shareholder Value: An Analysis Of Conocophillips, Michael Miller

Accounting Undergraduate Honors Theses

Overview of strategic decisions that ConocoPhillips has made and the effect it has on shareholder value. Uses knowledge a basic investor would be equipped with to analyze the spin-off of ConocoPhillips and Phillips 66 by comparing it to Marathon Oil's spin-off and the returns it created for investors.

Opt-In Overdraft Regulation Affects Bank Revenues, Kyle Mills

Finance Undergraduate Honors Theses

Amendments to Federal Regulation E, effective during 2010, limited banks ability to generate fee income from one-time debit card and ATM transactions. This research quantifies the estimated annual loss experienced by US and Arkansas banks.

Credit Card Act Of 2009: The Impact On College Student Credit Card Responsibility, Siobhan Costello

Finance Undergraduate Honors Theses

This study aimed to find out if the rules regarding college students and credit cards implemented by the Credit CARD Act of 2009 improved student credit card responsibility.

The Impact Of Quantitative Easing On Inflation In The United States, J. Bryan White

Finance Undergraduate Honors Theses

The purpose of this thesis is to examine the current and potential impact of the Federal Reserve’s non-traditional monetary policy known as Quantitative Easing on inflation in the United States. It examines the events and rationale behind the Federal Reserve’s policy actions as well as the theoretical implications for inflation. However, theory and reality do not seem to coincide. The Consumer Price Index (CPI) has shown no correlation to what many refer to as the “printing of money” that has occurred during Quantitative Easing. This is in opposition to the basic economic principle of the Quantity Theory of Money which …

Deregulation Of Indian Telecommunication: An Analysis Of Customer Benefit, Jordan Johnson

Finance Undergraduate Honors Theses

This study investigates whether mobile customers were made better off following the deregulation of the Indian telecommunications industry. It will establish a link between industry deregulation and affordability and accessibility for customers. Results indicate that as a result of deregulation and increased FDI, customers saw decreased usage charges and greater cellphone coverage and accessibility. Also covered is a case study of the Brazilian telecommunications industry.

Value At Risk In Dominican Banking: Evaluating The Regulatory Method, Jonathan Medina

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Financial institutions in the Dominican Republic, since 2004, have used the regulatory Value at Risk to measure market risk. This method is subject to criticism. The purpose of this study is to compare the regulatory VaR method against the Historic Simulation, Generalized Autoregressive Conditional Heteroskedasticity, and Monte Carlo approaches. The latter is more conservative and its assumptions are more realistic.

The Effect Of Kurtosis On The Cross-Section Of Stock Returns, Abdullah Al Masud

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

In this study, I show an effect of the statistical fourth moment on stock returns. In the mean-variance framework, rational investors follow two strategies: optimize the mean{variance of return and diversify the portfolio. Regarding the first approach, investors intend to generate the maximum level of return while facing a constant level of risk (or, the standard deviation) of return. It is possible that firm specific risk can be concentrated in the portfolio. However, diversification of the assets can eliminate that (idiosyncratic) risk from the portfolio. After a long period of time, in a diversified portfolio the shape of the return …

How Does The U.S. Stock Market Affect The Stocks Of Chinese State-Owned Companies?, Yan Huang

Economics Honors Projects

This paper examines how the U.S. stock market affects the Chinese stock market, with a focus on Chinese state-owned companies, and compares the impacts on different industries and time periods. Results show that the U.S. stock market affects non-state-owned companies and state-owned companies with international business, but not state-owned companies without international business. The correlations between two markets are stronger in industries with lower percentages of state-owned companies. The impacts the U.S. stock market has on the Chinese stock market are increasing in time and in longer term.

Fifa 2014 World Cup: Brazil’S Unending Headache: An Economic Investment That Challenges The Country’S Future, Bruna Almeida Lopes Barreto

Renée Crown University Honors Thesis Projects - All

Brazil is soccer. The game is so deeply ingrained in daily life - in Brazilian identity and self-esteem- that they define each other. Soccer is so profoundly intertwined with Brazilian culture that familiarity with the sport begins early, producing a bottomless pool of talent. Year after year, soccer stars seem to roll out of Brazil like cars off a factory assembly line; it’s a natural talent that grows in almost every Brazilian child. Soccer means passion to Brazilians; it is the symbol of their nationality, as they have proven to be very the best at it.

Now, Brazil finally has …

Accounting For Goodwill Pre&Post Sfas 142 And The Implications For Earnings Management, Liang Jian Wu

Honors Scholar Theses

This thesis explores how impairment charges driven by management assessment have led to the possibility of earnings management under the SFAS 142 standard. The goal of carrying out this research is to help the user understand the implications behind allowing management to judge impairment charges (US GAAP) versus pre SFAS 142 when intangibles such as a goodwill were amortized (currently IFRS).

How has SFAS 142 opened the door for earnings management? If there is evidence to prove this assumption, then what factors drive management's impairment decisions. This information is pertinent to investors when analyzing a potential investment as goodwill can …

Integrating A New Business Into The Financial Planning Process, Barbara M. Tarasovich

WCBT Faculty Publications

A new Controller in this case was recently hired by Unilever, a global 200 consumer products organization, to integrate a newly acquired business into Unilever’s financial planning process. The newly acquired organization was a publically held company and had its own existing financial processes and procedures. Financial planning and reporting are major company activities and finance and accounting professionals are expected to “get it right.” The purpose of this case study is to get students to think about the difficulties and challenges of revamping existing financial processes and procedures and alert them to areas where other financial professionals have encountered …

Energy Sources And The Production Of Electricity In The United States, David Manukjan

Honors College Theses

The current sources of energy that the United States uses to produce electricity are costly, extremely damaging to the environment, and cause us to rely on other countries for our energy needs. The Obama Administration has begun working on replacing coal and oil with cleaner sources of energy. Over the last decade, alternative energy sources have been slowly gaining popularity as the American public learns more about climate change. However, the U.S. government will not use renewable energy as a complete substitute for fossil fuels in the immediate future because of their higher market price. The world is struggling to …

Knowledge, Norms And Preferences For Tamarisk Management In The Green And Colorado River Corridors Of The Colorado Plateau, E. Clay Allred

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This research was created collaboratively between the National Park Service and Utah State University as an explorative study addressing social implications of tamarisk management. It has created a stronger partnership between the university and the National Park Service in Moab, Utah. Through this research, Utah State University was able to find valuable social science data to aid public land managers in the planning and management of tamarisk control on the Colorado Plateau. Utah State funded a research assistant for one year to perform this research, totaling approximately $16,000.

This study focused on finding river user knowledge, preferences, and norms for …