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Full-Text Articles in Business

Value Based Management: Some Perspectives, Prasanna Chandra Sep 2001

Value Based Management: Some Perspectives, Prasanna Chandra

IIMB Management Review

gained widespread acceptance in the US in the last two decades or so. With the globalisation of capital markets, intensification of competition, and massive privatisation initiatives, shareholder value is gaining the attention of executives all over the world, including India. The interest in value creation has been stimulated by several developments:

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Empowerment And Growth: The Eva Story At Tcs, S Mahalingam Sep 2001

Empowerment And Growth: The Eva Story At Tcs, S Mahalingam

IIMB Management Review

Tata Consultancy Services (TCS) employs over 15000 professionals, has offices in 23 countries and projects in 50 countries across the world, and revenues around $700 million. Among its clientele are a number of Fortune 500 companies and it is in the league of 30 top IT consulting firms in the world. TCS today is an Indian enterprise with a global reach. Its hiring and people care practices are in line with the industry practices and the compensation model has been traditional. The company has now set its sights on becoming a truly global organization. Its vision is to be among …

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What Is Eva?, Joel Stern Sep 2001

What Is Eva?, Joel Stern

IIMB Management Review

There is no way to measure your performance contemporaneously, period by period. The way people try to incentivize net present value is by using stock options or restricted shares or something like that. But we have taken net present value, which is what the accountants call a stock concept, and converted it into a flow concept, one that can be measured contemporaneously year-by-year. We have put the incentives and the tools in place, to reinforce that. So on acquisitions, for example, you will not be the one to drop out of the bidding contest. I will show you how we …

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Stern Measures: In Conversation With Joel Stern, S Venkatesh Sep 2001

Stern Measures: In Conversation With Joel Stern, S Venkatesh

IIMB Management Review

The financial evaluation tool that his company devised and grew. Elaborating on how it differs from the accountants’ measure of value and is an accurate measure of shareholder value, Stern claimed that EVA was emerging as a strong consulting practice in India, thanks to the sharpness of the quantitative side of the Indian brain. Defending EVA against Prof Zimmerman’s criticism, Stern strongly positioned EVA as a tool for evaluation, incentivization, and strategic decision making

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Eva: Cutting To Fit, S Venkatesh Sep 2001

Eva: Cutting To Fit, S Venkatesh

IIMB Management Review

No abstract provided.

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Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker Sep 2001

Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker

Journal of Microfinance / ESR Review

A few microfinance institutions (MFIs) have implemented best business practices and made the transition to fully regulated financial institutions. Many more are in the process of undertaking this transformation or at least considering it. Rising competition among growing numbers of MFIs for both funding and clients has made improved financial performance a necessity for most if not all MFIs. Financial ratios of 17 Latin American MFIs are compared to benchmark performance ratios for the industry and with commercial Latin American banks. This small sample of data, while useful, also underlines the need for more widespread MFI reporting. Complicating reliance on …

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Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla Sep 2001

Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla

Journal of Microfinance / ESR Review

No abstract provided.

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Creating An Enabling Environment For Small-Scale Industries., K. M. Obitayo Sep 2001

Creating An Enabling Environment For Small-Scale Industries., K. M. Obitayo

Bullion

This paper explores how to create enabling environment for the development of small-scale industries (SSIs) which are globally noted for their immense contributions to development process and as engine of economic growth. The rest of the paper is divided into five sections. Section ll reviews the definition of SSls and highlights some relevant economic significance of SSls, Section lll reflects government's past efforts in supporting the developments of SSIs in Nigeria. Section lV discusses SSls constraints while Section V dwells on the key policy issues for creating an enabling environment for SSls. Finally, Section Vl, provides the concluding remarks and …

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Microfinance Impact Assessments: The Perils Of Using New Members As A Control Group, Dean S. Karlan Sep 2001

Microfinance Impact Assessments: The Perils Of Using New Members As A Control Group, Dean S. Karlan

Journal of Microfinance / ESR Review

Microfinance institutions aim to reduce poverty. Some assess their impact through a cross-sectional impact methodology which compares veteran to new participants and then calls any difference between these two groups the "impact" of the program. Such studies have risen recently in popularity because they are cheap, easy to implement, and often encouraged by donors. USAID, through its AIMS project, encourages this methodology with its SEEP/AIMS practitioner-oriented tools. This paper intends to inform practitioners about the perils of using such a strategy, and suggests a couple of solutions to some of the larger problems with this approach.

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Front Matter, Journal Of Microfinance Sep 2001

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Financing Long-Term Care: Insurance And Its Alternatives, Barbara Rowe Sep 2001

Financing Long-Term Care: Insurance And Its Alternatives, Barbara Rowe

All Current Publications

No abstract provided.

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Shopping For Long-Term Care Insurance, Barbara Rowe Sep 2001

Shopping For Long-Term Care Insurance, Barbara Rowe

All Current Publications

No abstract provided.

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2001-2002 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration. Aug 2001

2001-2002 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 2001-2002 Fiscal Year Operating Budget for the Southern University Law Center Campus.

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2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration. Aug 2001

2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University and A & M College Operating Budget for 2001-2002.

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2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration. Aug 2001

2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University System Board and System Administration Operating Budget 2001-2002.

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2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration. Aug 2001

2001-2002 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University at Shreveport Operating Budget 2001-2002. Fiscal Year Ending June 30, 2002. Southern University System.

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Raising Capital For Not-For-Profit Organizations: Tax-Exempt Bond Financing, Christopher T. Tucker Jul 2001

Raising Capital For Not-For-Profit Organizations: Tax-Exempt Bond Financing, Christopher T. Tucker

Seton Hall University Dissertations and Theses (ETDs)

.

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Ua9 Investing In The Spirit, Wku Development & Alumni Relations Jul 2001

Ua9 Investing In The Spirit, Wku Development & Alumni Relations

WKU Administration Documents

Development office newsletter regarding donors and donations to Western Kentucky University.

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The Effectiveness Of Institutional Activism, Gary L. Caton, Jeremy Goh, Jeffrey Donaldson Jul 2001

The Effectiveness Of Institutional Activism, Gary L. Caton, Jeremy Goh, Jeffrey Donaldson

Research Collection Lee Kong Chian School Of Business

Researchers examined earnings-forecast revisions and stock returns after release of the Focus List of poorly performing companies by the Council of Institutional Investors. Using Tobin's q as a measure of a company's ability to improve performance, researchers found significant and positive abnormal forecast revisions and post-release stock returns for companies with q greater than one. Findings support the proposition that institutional activism is effective for underperforming companies - but only those companies with the ability to respond to the challenge to improve performance.

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Is A Convertible Bond Call Really Bad News?, Louis H. Ederington, Jeremy C. Goh Jul 2001

Is A Convertible Bond Call Really Bad News?, Louis H. Ederington, Jeremy C. Goh

Research Collection Lee Kong Chian School Of Business

The article tests and rejects the hypothesis that managers call in-the-money convertibles when they view a decline in the value of the firm as likely. Inconsistent with this view, it finds that insiders generally buy equity before conversion-forcing calls. Also, analysts tend to raise their earnings forecasts following a call. There is no evidence that earnings analysts interpret a conversion-forcing call as bad news. Indeed there is evidence that, relative to firms in general, analysts are revising their earnings forecasts upward in the months surrounding conversion-forcing calls. The article concludes that an announcement of a conversion-forcing call of a firm's …

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2000-2001 Operating Budget: Southern University At New Orleans, Southern University System. Office Of Finance & Administration. Jun 2001

2000-2001 Operating Budget: Southern University At New Orleans, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

No abstract provided.

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2000-2001 Operating Budget, Subr Agricultural Extension And Research Programs. Office Of Finance & Administration. Jun 2001

2000-2001 Operating Budget, Subr Agricultural Extension And Research Programs. Office Of Finance & Administration.

All Southern University System Budgets

Southern University System. Office of Finance & Administration.

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Design And Estimation Of Quadratic Term Structure Models, Markus Leippold, Liuren Wu Jun 2001

Design And Estimation Of Quadratic Term Structure Models, Markus Leippold, Liuren Wu

CRIF Working Paper series

We consider the design and estimation of quadratic term structure models. We start with a list of stylized facts on interest rates and interest rate derivatives, classified into three layers: (1) general statistical properties, (2) forecasting relations, and (3) conditional dynamics. We then investigate the implications of each layer of property on model design and strive to establish a mapping between evidence and model structures. We calibrate a two-factor model that approximates these three layers of properties well, and illustrate how the model can be applied to pricing interest rate derivatives.

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Emerging Manufacturing Industry : A Financial Perspective, M S Narasimhan, L S Murty Jun 2001

Emerging Manufacturing Industry : A Financial Perspective, M S Narasimhan, L S Murty

IIMB Management Review

No abstract provided.

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Real Exchange-Rate Behaviour Under Fixed And Floating Exchange Rate Regimes, James R. Lothian, Cornelia H. Mccarthy May 2001

Real Exchange-Rate Behaviour Under Fixed And Floating Exchange Rate Regimes, James R. Lothian, Cornelia H. Mccarthy

CRIF Working Paper series

In this paper we examine the stability of the real exchange rate and the macroeconomic effects of alternative exchange-rate regimes, including currency union, on real exchange-rate behaviour. We focus on the Irish punt in order to exploit its diversity of experience over different nominal exchange rate regimes. We make both temporal and cross-country comparisons of real-exchange-rate stability for the Irish punt with sterling, the US dollar and the German mark. We reach two conclusions on the basis of our results. The first is that for Ireland, as for most other countries, purchasing power parity provides a reasonably good description of …

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Equity Returns And Inflation: The Puzzlingly Long Lags, James R. Lothian, Cornelia Mccarthy May 2001

Equity Returns And Inflation: The Puzzlingly Long Lags, James R. Lothian, Cornelia Mccarthy

CRIF Working Paper series

This paper examines data for stock prices and price levels of 14 developed countries during the post-WWII era and compares their behavior in that sample with behavior over the past two centuries in the UK and the US. Contrary to much of the literature of the past several decades, we find that nominal equity prices do, in fact, keep pace with movements in the overall price level. Our results suggest, however, that this is only the case over long periods. The puzzle therefore is not that equities fail the test as inflation hedges, as had been quite widely believed, but …

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A Simulation Analysis Of The Relationship Between Retail Sales And Shopping Center Rents, Gregory H. Chun, Mark Eppli, James D. Shilling May 2001

A Simulation Analysis Of The Relationship Between Retail Sales And Shopping Center Rents, Gregory H. Chun, Mark Eppli, James D. Shilling

Finance Faculty Research and Publications

This article examines the variation in rents per square foot among regional shopping centers in the United States in response to variation in retail sales per square foot. The analysis breaks new ground by treating base and percentage rents as endogenous functions of retail sales. The analysis further distinguishes between de facto, if not de jure, fixed and percentage leases, and between new versus existing leases. Simulation results suggest that shopping center rents can easily increase in the short-run as retail sales decrease, or they can easily decrease as retail sales increase. In addition, the results suggest that shopping center …

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The Crummer Suntrust Investment Portfolio 2001, Luna Anico, Molly Ater, Evan Melcher, Michael Welker Apr 2001

The Crummer Suntrust Investment Portfolio 2001, Luna Anico, Molly Ater, Evan Melcher, Michael Welker

Crummer Truist Portfolios

No abstract provided.

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How To Reduce Arrears In Microfinance Institutions, Norell, Dan Norell Apr 2001

How To Reduce Arrears In Microfinance Institutions, Norell, Dan Norell

Journal of Microfinance / ESR Review

Reducing arrears is crucial if MFIs are to achieve selfsufficiency. MFI staff must understand the causes of arrears--whether from clients' testing the MFI's determination to collect, crises in clients' lives, loans that are too large, or loans given on the basis of favoritism. Analytical tools for assessing and preventing arrears include key measures for analyzing arrears (e.g., portfolio quality ratios and performance ratios by credit officer) and financial ratio tests for determining appropriate loan size. The key to reducing arrears is to follow up late loans quickly, form strong solidarity groups, update and enforce credit policies, focus credit officers' services …

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Vol. 03 No. 1 Journal Of Microfinance, Journal Of Microfinance Apr 2001

Vol. 03 No. 1 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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