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Articles 7171 - 7200 of 9382

Full-Text Articles in Business

Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E. Dec 2008

Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E.

Bullion

The paper underlined the challenges and opportunities for managing Africa's external reserves by Africans after identifying several pre-conditions for an African currency to emerge as international currency and noted that these conditions have not yet crystallized in Africa. Although African external reserves have grown over time the benefits of such growth in terms of facilitation of domestic financial markets and even the earning are not commensurate with the reserves growth rate. The non-convertibility of African currencies, volatile macroeconomic and sometimes volatile political environment coupled with the shallowness of the domestic markets are the main challenges that are faced by the …

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Socio-Demographic And Financial Predictors Of Discharged Chapter 12 Bankruptcies For Utah, Idaho, And Wyoming, Jessica Johnson Dec 2008

Socio-Demographic And Financial Predictors Of Discharged Chapter 12 Bankruptcies For Utah, Idaho, And Wyoming, Jessica Johnson

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The purpose of this study was to examine the socio-demographic and financial characteristics that were associated with the likelihood of a discharge among Chapter 12 bankruptcy filers in Utah, Idaho, and Wyoming. Previous bankruptcy studies conducted in Utah have looked at the same associations in Chapter 7 and Chapter 13. This study contains individual filer-level data from 158 Chapter 12 bankruptcy cases filed in Utah, Idaho, and Wyoming between 1997 and 2005. These cases were accessed through the Web-PACER system, a database of imaged court documents filed in district bankruptcy courts. Free access to this system was given by the …

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Style Investing And Institutional Investors, Kenneth Froot, Melvyn Teo Dec 2008

Style Investing And Institutional Investors, Kenneth Froot, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

This paper explores the importance and price implications of style investing by institutional investors in the stock market. To analyze styles, we assign stocks to deciles or segments across three style dimensions: size, value/growth, and sector. We find strong evidence that institutional investors reallocate across style groupings more intensively than across random stock groupings. In addition, we show that own segment style inflows and returns positively forecast future stock returns, while distant segment style inflows and returns forecast negatively. We argue that behavioral theories play a role in explaining these results.

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The Timeliness Of Accounting Disclosures In International Security Markets, C. Mitchell Conover, Robert E. Miller, Andrew Szakmary Dec 2008

The Timeliness Of Accounting Disclosures In International Security Markets, C. Mitchell Conover, Robert E. Miller, Andrew Szakmary

Finance Faculty Publications

In this study, we examine financial reporting lags, the incidence of late filing, and the relationship between reporting lags, firm performance and the degree of capital market scrutiny. We use a large sample of firms spanning 22 countries over an eleven-year period. A focal point of our analysis is whether the incidence of late filing, and the relations between reporting days and other variables, differ systematically between common and code law countries. Relative to U.S. firms, we report that the time taken and allowed for filing is usually longer in other countries and that the statutory requirement is more frequently …

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Thierry Apoteker On The Threat Of Global Stagflation, Knowledge@Smu Nov 2008

Thierry Apoteker On The Threat Of Global Stagflation, Knowledge@Smu

Knowledge@SMU

Managing director Thierry Apoteker and his team at French company T-A-C (Thierry Apoteker Consulting) have correctly predicted many of the economic shocks that the world has seen in the past three months. In a recent presentation hosted by the International Trading Institute, Singapore Management University, Apoteker made a convincing case for worldwide inflation and recession, known as stagflation.

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Fair-Value Accounting Provides Much Needed Transparency In Dislocated Markets, Knowledge@Smu Nov 2008

Fair-Value Accounting Provides Much Needed Transparency In Dislocated Markets, Knowledge@Smu

Knowledge@SMU

In the current global financial turmoil, more transparency is needed, not less, say Singapore Management University professor of accounting Andrew Lee and accounting lecturer Lim Chu Yeong. While some critics argue that fair-value accounting is partly to blame and should be suspended, in a recent commentary Lee and Lim made the case for fair-value accounting as having an important role to play in providing timely and relevant information to investors.

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Retail Investors And Structured Products: A Case Of 'Buyer Beware'!, Knowledge@Smu Nov 2008

Retail Investors And Structured Products: A Case Of 'Buyer Beware'!, Knowledge@Smu

Knowledge@SMU

Across the globe, buyers of structured products linked to Lehman Brothers have seen their investments wiped out. In Singapore, the MAS (Monetary Authority of Singapore) has appointed an independent committee to oversee the review and resolution of customer complaints. Tan Chong Hui, professor of quantitative finance at Singapore Management University, has this advice especially for retail investors of structured products: caveat emptor or ‘buyer beware’.

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The Dynamics Of Quote Adjustments, Kee H. Chung, Chairat Chuwonganant, Jing Jiang Nov 2008

The Dynamics Of Quote Adjustments, Kee H. Chung, Chairat Chuwonganant, Jing Jiang

WCBT Faculty Publications

Liquidity providers on the NYSE make faster quote adjustments towards equilibrium spreads and depths than they do on NASDAQ. Liquidity providers in both markets make faster spread and depth adjustments for stocks with more frequent trading, greater return volatility, higher prices, smaller market capitalizations, and smaller trade sizes. We find that stocks with greater information-based trading and in more competitive trading environments exhibit faster quote adjustments. The speed of quote adjustment is faster after decimalization in both markets. These results are robust and not driven by differences in stock attributes between the two markets or time periods. Overall, our results …

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Market Segmentation, Liquidity Spillover, And Closed-End Country Fund Discounts, Sai Pang (Justin) Chan, Ravi Jain, Yihong Xia Nov 2008

Market Segmentation, Liquidity Spillover, And Closed-End Country Fund Discounts, Sai Pang (Justin) Chan, Ravi Jain, Yihong Xia

Research Collection Lee Kong Chian School Of Business

In a segmented international capital market, the illiquidity of a country fund in the market in which its shares are traded affects only the share price of the fund (S), while the illiquidity of its underlying assets in the market in which these are traded affects only the fund net asset value (NAV). In an integrated market, illiquidity in one market can easily spill over to another and affect both the fund share price and its underlying asset value. It follows that the closed-end country fund premium, P[reverse not equivalent]ln(S)-ln(NAV), is negatively (positively) affected by the fund (underlying asset) illiquidity …

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Connecting Resources To Student Achievement: Assessment Of The Indeterminacy Of District Performance, Peter Simpson, Robert K. Gable, Stacey L. Kite Oct 2008

Connecting Resources To Student Achievement: Assessment Of The Indeterminacy Of District Performance, Peter Simpson, Robert K. Gable, Stacey L. Kite

School Finance and Student Achievement

The purpose of this study is to conduct cluster analyses, resulting in groupings of N=113 districts based on socioeconomic status (SES), which is the independent variable and primary correlate of performance. It is a quantitative analysis of N=113 districts in Massachusetts for the period from 2000 to 2005. The study conducts cluster analyses to evaluate district performance as measured by student achievement. The problem is stated by National Research Council (1999) that: “Indeterminacy characterizes education production”. Indeterminacy is represented by variation in the N=113 districts’ performance. The groupings of performance obtained from the cluster analyses provide information about the types …

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Money Largely Accounts For Increased Unemployment During Stagflation, Shows A Recent Study, Knowledge@Smu Oct 2008

Money Largely Accounts For Increased Unemployment During Stagflation, Shows A Recent Study, Knowledge@Smu

Knowledge@SMU

Is there a relation between money, measured by inflation or interest rates, and unemployment? According to Aleksander Berensten, Guido Menzio and Randall Wright -- co-authors of a recent paper on “Inflation and Unemployment in the Long Run” -- there is a strong positive relation. Wright, who is professor of economics at Wharton, presented a seminar based on their paper at the Singapore Management University’s School of Economics.

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Sox Section 404 Material Weaknesses Related To Revenue Recognition, Dana R. Hermanson, Daniel M. Ivan, Susan H. Iva Oct 2008

Sox Section 404 Material Weaknesses Related To Revenue Recognition, Dana R. Hermanson, Daniel M. Ivan, Susan H. Iva

Faculty Articles

The article analyzes disclosures of material weaknesses in internal control after the implementation of U.S. Sarbanes-Oxley Act of 2002 (SOX) 404 and summarizes the efforts of firms to remediate such material weaknesses. According to SOX section 404, management must issue a report on the effectiveness of the internal control of the firm over financial reporting. It notes that a report must be issued by the external auditor expressing an opinion on the effectiveness of internal control over financial reporting.

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After The Acquisition: Here Are Seven Steps To Successfully Integrating Finance And Accounting Functions After A Merger Or Acquisition, Barbara M. Tarasovich, Bridget Lyons, John Gerlach Oct 2008

After The Acquisition: Here Are Seven Steps To Successfully Integrating Finance And Accounting Functions After A Merger Or Acquisition, Barbara M. Tarasovich, Bridget Lyons, John Gerlach

WCBT Faculty Publications

Although much has been written regarding the factors critical to successful integration after a merger or acquisition, very little research has focused on the particulars of integrating the finance and accounting functions of the companies involved. As with overall business integration, detailed planning, effective communication, and speed of execution are critical. The authors recommend a seven-step process that will help balance the needs of the business during an acquisition as well as ensure financial controls are established. The overall steps provide the key activities to be accomplished and provide specific and explicit guidance. This seven-step process includes: 1. Begin planning, …

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Ceo Characteristics, Ceo-Firm Match And Corporate Refocus Value, Sheng Huang Oct 2008

Ceo Characteristics, Ceo-Firm Match And Corporate Refocus Value, Sheng Huang

Research Collection Lee Kong Chian School Of Business

This paper investigates how CEO characteristics affect firm value through divestiture. Using a novel dataset tracking CEO’s career path, from which CEO’s talent and expertise are reasonably inferred, I find when CEOs have differing abilities across divisions of conglomerates, they more likely divest divisions that they are less qualified to manage, and focus on divisions of better match with their talents and expertise. The better match of their talents with firms’ retained assets is the source of value creation from refocusing divestiture. Divestitures that increase corporate focus but not improve the talent-asset match do not create value in long run. …

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2008-2009 Revised Operating Budget: Southern University At Shreveport, Southern University System: Office Of Finance & Administration. Sep 2008

2008-2009 Revised Operating Budget: Southern University At Shreveport, Southern University System: Office Of Finance & Administration.

All Southern University System Budgets

This and the accompanying forms, statements and explanations comprising of 45 sheets, including Intercollegiate Athletic Budget each of which has been approved by me, constitute the actual Southern University at Shreveport operating budget for fiscal year 2007-2008.

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2008-2009 Revised Operating Budget, Southern University System. Office Of Finance & Administration. Sep 2008

2008-2009 Revised Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Higher Education Revised Operating Fund Budget Fiscal Year Ending June 20, 2009.

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Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio Sep 2008

Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio

Faculty Working Papers and Articles

The Public Company Accounting Oversight Board (PCAOB) has responsibility for monitoring public accounting firms that provide audits for publicly owned companies. Among the duties assigned to the PCAOB was “conducting inspections of registered public accounting firms.” A strategy for such inspections was developed that includes reporting deficiencies judged to be significant for supporting conclusions made. This paper presents a content analysis of deficiencies disclosed in the nine inspections (during three years) of three accounting firms, along with the largest four firms, that are inspected each year. Also discussed are the general implications for auditing teaching in colleges/universities and in continuing …

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Digital Storytelling Engages Tech-Savvy Accounting Students, Knowledge@Smu Sep 2008

Digital Storytelling Engages Tech-Savvy Accounting Students, Knowledge@Smu

Knowledge@SMU

Singapore has ambitions to become a global hub for `digital economy’ services. In September 2008, Singapore’s National Library Board, National Book Development Council and The Arts House are hosting the inaugural Asian Digital Storytelling Congress, Beyond Words 2008. Themin Suwardy, accountancy professor and associate dean at Singapore Management University, is one of the key speakers at the congress. His topic: Academic Learning through Digital Storytelling.

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Keys To Understanding Your Social Capital, Brian Uzzi Sep 2008

Keys To Understanding Your Social Capital, Brian Uzzi

Journal of Microfinance / ESR Review

No abstract provided.

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Social Capital: The Benefits, Potential Costs, And Prospects, Moses Acquaah Sep 2008

Social Capital: The Benefits, Potential Costs, And Prospects, Moses Acquaah

Journal of Microfinance / ESR Review

No abstract provided.

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Bottom Billion, Ben Lewis Sep 2008

Bottom Billion, Ben Lewis

Journal of Microfinance / ESR Review

No abstract provided.

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Diasporas: Exploring Their Development Potential, Liesl Riddle Sep 2008

Diasporas: Exploring Their Development Potential, Liesl Riddle

Journal of Microfinance / ESR Review

No abstract provided.

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End Matter, Esr Review Sep 2008

End Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

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Single Mom Initiative Enters The Next Phase, Esr Review Sep 2008

Single Mom Initiative Enters The Next Phase, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

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Reciprocal Dynamics: Social Capital And Microcredit, Warner P. Woodworth Sep 2008

Reciprocal Dynamics: Social Capital And Microcredit, Warner P. Woodworth

Journal of Microfinance / ESR Review

No abstract provided.

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Editor's Introduction: Social Capital, Paul C. Godfrey Sep 2008

Editor's Introduction: Social Capital, Paul C. Godfrey

Journal of Microfinance / ESR Review

No abstract provided.

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Vol. 10 No. 2 Esr Review, Esr Review Sep 2008

Vol. 10 No. 2 Esr Review, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

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Law As Relationship: Toward A More Effective And Ethical Legal Reform, Wade Channell Sep 2008

Law As Relationship: Toward A More Effective And Ethical Legal Reform, Wade Channell

Journal of Microfinance / ESR Review

No abstract provided.

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The Chilean Pension System At 25 Years: The Evolution Of A Revolution, Gregory J. Buchholz, Alberto Coustasse, Patricio Silva, Peter Hilsenrath Sep 2008

The Chilean Pension System At 25 Years: The Evolution Of A Revolution, Gregory J. Buchholz, Alberto Coustasse, Patricio Silva, Peter Hilsenrath

Management Faculty Research

The 1981 reform of the Chilean pension system was revolutionary at its time. It was the first instance of a mature public Pay-As-You-Go social security system being converted into a mandatory defined contribution system managed by the private sector. This paper contends that a unique confluence of events were responsible for this change. The rise of a dictatorship in Chile, a struggling public retirement system, and a cadre of Chicago oriented economists determined to make Chile a model free market neoliberal economy. This was later followed by the Washington Consensus and the promotion of Chilean reform by the World Bank. …

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Mfdi Actively Promotes International Research, Esr Review Sep 2008

Mfdi Actively Promotes International Research, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

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