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Full-Text Articles in Business

Coordination Failure In The Rural Credit Markets, Mishra, Atul Mishra Apr 2001

Coordination Failure In The Rural Credit Markets, Mishra, Atul Mishra

Journal of Microfinance / ESR Review

This paper tries to explain the curious fact that while at the national level the rural sector saves more than what it invests in itself in India, at the micro level, credit constraint is reported to be the main binding constraint on the activities in the rural economy. The explanation lies in the phenomenon of coordination failure. The public sector rural banks mobilize huge amounts of savings, but because of low rates of interest and high default rates, they do not lend in equal measure. Indeed, in India the public sector rural banks mobilize as savings three times the amount …

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India's Regional Rural Banks: The Institutional Dimension Of Reforms, Nitin Bhatt, Y. S. P. Thorat Apr 2001

India's Regional Rural Banks: The Institutional Dimension Of Reforms, Nitin Bhatt, Y. S. P. Thorat

Journal of Microfinance / ESR Review

Efforts to reform India's failing Regional Rural Banks (RRBs) have had limited impact, because reformers have paid little attention to the institutional dimensions of the problems facing the banks. Few efforts were made to redesign the perverse institutional arrangements that gave rise to incompatible incentive structures for key stakeholders, such as political leaders, policy makers, stockholders, bank staff, and clients. We recommend that the next leg of reforms focus on aligning the incentives of these stakeholders by giving greater importance to the RRBs' internal organizational contexts and larger policy environments.

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Assessing The Need For Microenterprises In Mexico To Borrow Start-Up Capital, Heikki Heino, Jose A. Pagan Apr 2001

Assessing The Need For Microenterprises In Mexico To Borrow Start-Up Capital, Heikki Heino, Jose A. Pagan

Journal of Microfinance / ESR Review

Mexico's microenterprises employ about 20 percent of the working age population in the country, and the number of microenterprises has increased substantially over the last decade. Given the role these small business units play in employment and wealth creation, it is important to understand the profile of firms that resort to outside start-up capital to finance their operations. Using microdata from Mexico's National Survey of Microenterprises (Encuesta Nacional de Micronegocios, ENAMIN), we analyze the socioeconomic factors related to the need for outside start-up capital. The findings show that a relatively small number of socioeconomic factors such as the background of …

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Front Matter, Journal Of Microfinance Apr 2001

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Performance Measures For Microenterprise In The United States, Karen Doyle, Jerry Black Apr 2001

Performance Measures For Microenterprise In The United States, Karen Doyle, Jerry Black

Journal of Microfinance / ESR Review

Microenterprise, while currently serving a small number of America's poor, is often the only option--other than receiving welfare--for a variety of individuals to improve their standard of living or quality of life. MicroTest, a project of the Aspen Institute, was created to improve the value of microenterprise services and the stability of microenterprise organizations over time by perfecting and promoting the use of measures to regularly assess performance. This article proposes a performance measurement framework for U.S. microenterprise development programs. The following key categories of outputs and outcomes can be used to assess the performance of microenterprise development providers: Reaching …

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Book Review- Microfinance: Conversations With The Experts Edited By Charles Oberdorf, Matthew Wood Apr 2001

Book Review- Microfinance: Conversations With The Experts Edited By Charles Oberdorf, Matthew Wood

Journal of Microfinance / ESR Review

No abstract provided.

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From The Editor, Journal Of Microfinance Apr 2001

From The Editor, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Microfinance Myopia: Lessons From The Mainstream, Kim Wilson Apr 2001

Microfinance Myopia: Lessons From The Mainstream, Kim Wilson

Journal of Microfinance / ESR Review

This essay attempts to remove the shades that blind the microfinance sector to the value of its customers and what its customers truly value. It proposes that the social agenda and financial health of microfinance institutions would be far more sound if we understood who our customers are, why they leave, what they really want, and the real business we are all in.

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Client Information Sharing In Bolivia, Campion, Anita Campion Apr 2001

Client Information Sharing In Bolivia, Campion, Anita Campion

Journal of Microfinance / ESR Review

As the microfinance industry becomes more competitive, microfinance institutions (MFIs) increasingly seek access to credit bureaus and credit information agencies. The growing number of microfinance providers in the market results in borrowers having more access to loans, which can lead to client overindebtedness and default. By sharing client information with each other and by using credit bureau information on client history and indebtedness, MFIs facing competition can reduce their credit risk and avoid unnecessary losses. While the growing interest in credit bureaus for microfinance is global, to date, few countries have credit unions and even fewer include microfinance clients in …

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Top 10 Audit Deficiencies, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson Apr 2001

Top 10 Audit Deficiencies, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

The article focuses on financial statement fraud based on cases wherein the U.S. Securities and Exchange Commission sanctioned auditors for their association with fraudulent financial statements. All of the cases involved public companies, most of which engaged ill fraudulent financial reporting. Only a few engaged in misappropriation of assets or defalcation. The most common problem, alleged in 90% of the cases, was the auditor's failure to gather sufficient evidence. In some instances, this failure was pervasive throughout the engagement while in other instances the allegations were more specific. For example, many of the cases involved inadequate evidence in the areas …

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Two Essays On Exchange -Traded Funds, Natalya Vladimir Delcoure Apr 2001

Two Essays On Exchange -Traded Funds, Natalya Vladimir Delcoure

Doctoral Dissertations

The purpose of this study is twofold. The first objective is to conduct an empirical inquiry into the diversification benefits of exchange-traded funds. The second objective is to examine whether exchange-traded funds exhibit superior performance compared to their rival closed-end country fund and traditional index mutual fund. I document that American investors manifest their preference for WEBS as a substitute for closed-end country funds. While I find that WEBS satisfy their objective of following their home indexes better than their rival closed-end country fund, the two-factor model I employ indicates that, despite some diversification benefits, WEBS also maintain certain risk …

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Fundamental Approach To Exchange Rate Modeling: Toward An Augmented Theory Of Purchasing Power Parity, Jianzhou Zhu Apr 2001

Fundamental Approach To Exchange Rate Modeling: Toward An Augmented Theory Of Purchasing Power Parity, Jianzhou Zhu

Doctoral Dissertations

In this dissertation, I test the homogeneity and symmetry conditions of PPP by applying the Johansen multivariate cointegration methodology to quarterly data for six countries. I perform the tests in the framework of both a traditional version and an augmented version of PPP. The results of tests on the traditional version of PPP reveal that in all cases the theoretical PPP-vector [1, 1, −1] is not contained in the cointegrating space. This finding is consistent with that of existing literature and indicates the empirical failure of the homogeneity and symmetry conditions of PPP. However, when the traditional PPP is augmented …

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Rollins College Endowment Fund Pool: Evaluation And Proposed Changes [2001], Martin Bel, Alexandre Mohring, Darian Reeves, Ivette Sanchez Apr 2001

Rollins College Endowment Fund Pool: Evaluation And Proposed Changes [2001], Martin Bel, Alexandre Mohring, Darian Reeves, Ivette Sanchez

Crummer Truist Portfolios

No abstract provided.

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Portfolio Recommendations - Crummer Suntrust Investment Portfolio 2001, Thilo Hoffman, Bryan Rich, Andy Wilkinson Apr 2001

Portfolio Recommendations - Crummer Suntrust Investment Portfolio 2001, Thilo Hoffman, Bryan Rich, Andy Wilkinson

Crummer Truist Portfolios

No abstract provided.

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Clark County School District: Bonds And Debt. Can They Be Divided Equally?, Jocelyn Izumigawa Apr 2001

Clark County School District: Bonds And Debt. Can They Be Divided Equally?, Jocelyn Izumigawa

UNLV Theses, Dissertations, Professional Papers, and Capstones

Clark County School District is one of the largest school districts in the nation with a student population of 203,616 for 1998-1999. Talk of deconsolidating Clark County School District has been proposed by Assembly persons. However, as recent as November 2000, another initiative for deconsolidation and reconfigurations had not been approved by the voters. One of the issues surrounding deconsolidation is the district's bond debt. An equitable division has not been reached should Clark County School District deconsolidate. This paper deals with dividing the bond debt equally among eight districts (identified in an earlier study of deconsolidation) and assessing whether …

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Going Places : Atm Services In India, Sanjiv Kumar Bhatia Mar 2001

Going Places : Atm Services In India, Sanjiv Kumar Bhatia

IIMB Management Review

Post-liberalisation banking sector reforms brought in a new era of competition, forcing banks to look for different ways of competing. ATM (automated teller machine) services helped banks increase their reach and improve customer responsiveness and also provided them with opportunities to open new streams of revenues. However, regulatory bindings, such as the control on the number of ATMs that can be deployed by the public sector banks, and tariff issues like high custom duty on ATM hardware, made this option unviable and constrained the growth of ATMs in the country in last decade.

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Revising R & D Program Budgets When Considering Funding Curtailment With A Weibull Model, Paul H. Porter Mar 2001

Revising R & D Program Budgets When Considering Funding Curtailment With A Weibull Model, Paul H. Porter

Theses and Dissertations

This research develops an analytical technique to estimate the impact of funding curtailment on an R&D program. The method quickly produces a revised budget by year for an on-going R&D program when funding in one year is reduced. We assume program requirements remain unchanged. The program duration may be unchanged or "stretched" to a later completion date. We use the Rayleigh and Weibull functions to model expenditure profiles, which forms basis of the analytical approach. Our proposed methodology accounts for budget outlay rates and inflation. We validate the proposed analytical technique using historical cost data from several programs.

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Estimating C-17 Operating And Support Costs: Development Of A System Dynamics Model, Christopher D. Purvis Mar 2001

Estimating C-17 Operating And Support Costs: Development Of A System Dynamics Model, Christopher D. Purvis

Theses and Dissertations

This research provides justification for experimenting with system dynamics (SD) for performing Operation and Support Cost estimates. For the C-17 Globemaster III cargo aircraft, these costs could exceed $64 billion dollars. Also, many of our weapon systems are beginning to reach the end of their effective life span, and discussions about the impact of aging, on aircraft, has become a hot topic in the literature. System Dynamics is a modeling methodology developed in 1958, but never used extensively for cost estimating. SD offers unique capabilities to the cost estimator, including the ability to model causal relationships. This capability offers the …

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Relating Initial Budget To Program Growth With Rayleigh And Weibull Models, Eric J. Unger Mar 2001

Relating Initial Budget To Program Growth With Rayleigh And Weibull Models, Eric J. Unger

Theses and Dissertations

Previous research on completed defense R&D shows that contract expenditures can be fit well with a Rayleigh model. With fixed outlay rates, as prescribed by the OSD comptroller, the budget profile must have most of the funds in the early years to produce Rayleigh-distributed expenditures. R&D programs with more delayed funding profiles may also produce expenditures that a Rayleigh model fits through schedule slips and cost overruns. This research tests how well the initial funding profile produces Rayleigh-distributed expenditures that can be related to the program's final cost overrun and schedule slips. Based only on the initial budget profile, we …

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A Critical Analysis Of The Air Force's International Merchant Purchase Authorization Card (Impac) Program, Roy D. Thrailkill Mar 2001

A Critical Analysis Of The Air Force's International Merchant Purchase Authorization Card (Impac) Program, Roy D. Thrailkill

Theses and Dissertations

The United States Air Force (USAF) purchased over $ 1.3 billion worth of goods and services with the IMPAC in fiscal year (FY) 2000 alone. The proliferation of the IMPAC has changed the way organizations procure goods and services and empowered them with a tool to increase their procurement flexibility and responsiveness. These benefits have been accompanied by regulatory and procedural constraints that have presented challenges to key participants of this streamlined purchase process. This thesis addresses documented deviations of the IMPAC program's execution from its theoretical design. It describes the structure of the IMPAC program, analyzes the execution of …

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Dollarizing Qualitative Discriminators Used In Best Value Source Selections, Jason R. Borchers Mar 2001

Dollarizing Qualitative Discriminators Used In Best Value Source Selections, Jason R. Borchers

Theses and Dissertations

With the decreasing budget that gets allocated to the Department of Defense each year, the government needs to be able to acquire more with less. This has a direct impact on how source selections are conducted. This research proposes a method using four different levels of cost that will provide the government with the best overall value in the conduction of source selections. This differs from previous source selections, because source selection teams, in general, only considered proposal price in their evaluation.

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Forecasting Volatility: Evidence From The German Stock Market, Hagen H. W. Bluhm, Jun Yu Feb 2001

Forecasting Volatility: Evidence From The German Stock Market, Hagen H. W. Bluhm, Jun Yu

Research Collection School Of Economics

In this paper we compare two basic approaches to forecast volatility in the German stock market. The first approach uses various univariate time series techniques while the second approach makes use of volatility implied in option prices. The time series models include the historical mean model, the exponentially weighted moving average (EWMA) model, four ARCH-type models and a stochastic volatility (SV) model. Based on the utilization of volatility forecasts in option pricing and Value-at-Risk (VaR), various forecast horizons and forecast error measurements are used to assess the ability of volatility forecasts. We show that the mode lrankings are sensitive to …

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2000-2001 Financial Summary, Morehead State University. Budget & Financial Planning Office. Jan 2001

2000-2001 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2000-2001 Financial Summary of Morehead State University.

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Currency Union And Real Exchange Rate Behavior, James R. Lothian, Cornelia Mccarthy Jan 2001

Currency Union And Real Exchange Rate Behavior, James R. Lothian, Cornelia Mccarthy

CRIF Working Paper series

In this paper we study the behavior of the real exchange rate of three North American currencies vis-a-vis the U.S. dollar: the Canadian dollar the Mexican peso, and the Panamanian Balboa. Our principal object is to design an experiment in which meaningful comparisons of behavior across regimes would be possible. In the main we were unable to find any. The allegation of problems created due to aggregating data across regimes therefore receives no support at all in these data. A second criterion for choosing the countries in our sample was differences in level of economic development. The object here was …

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Development Of Russian Commercial Banks And Financial Crisis Of 1998, Anna Barc Jan 2001

Development Of Russian Commercial Banks And Financial Crisis Of 1998, Anna Barc

Theses Digitization Project

This report describes the development of commercial banks in Russia and role of government and Central Bank in advance of Russian financial system.

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Strategic Business Plan: Senior Planning Solutions, Sherdon Hamel Jan 2001

Strategic Business Plan: Senior Planning Solutions, Sherdon Hamel

Theses Digitization Project

No abstract provided.

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Indiana State University Financial Report 2001, Indiana State University Jan 2001

Indiana State University Financial Report 2001, Indiana State University

Financial Reports

No abstract provided.

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2001-2002 Proposed Budget, Wku Student Government Association Jan 2001

2001-2002 Proposed Budget, Wku Student Government Association

Student Government Association

Proposed budget prepared by Aaron Spencer.

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A System Design Framework For Project Cost Control In The Irish Construction Industry, Tomás Kelly Jan 2001

A System Design Framework For Project Cost Control In The Irish Construction Industry, Tomás Kelly

Masters

The construction industry is a major contributor to the Irish economy. The common denominator of the of the industry’s business is the “construction project”. Construction projects by their very nature are unique being influenced by many variables such as weather, location, design and personnel. This situation demands strong management to fulfil the cost control function. The primary aim of this project has been the illustration of a system design framework for project cost control in the Irish construction industry. This system design should be based upon a general principle identified for the design of an overall project management system. Whilst …

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Fitting Loss Distributions In The Presence Of Rating Variables, Farrokh Guiahi Jan 2001

Fitting Loss Distributions In The Presence Of Rating Variables, Farrokh Guiahi

Journal of Actuarial Practice (1993–2006)

This paper focuses on issues and methodologies for fitting alternative statistical models-parametric probability distributions-to samples of insurance loss data. The interactions of loss distributions, deductibles, policy limits, and rating variables in the context of fitting distributions to losses are discussed. Fitted loss distributions serve an important function in pricing insurance products. The methodology developed in this paper is applied to a sample of insurance loss data that has the lognormal as the underlying loss distribution.

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