Business Commons^™

Essays On Corporate Debt Structure, Kyuyoung Oh

Theses and Dissertations--Finance and Quantitative Methods

The dissertation consists of three chapters exploring three different facets of corporate debt structure choice. In the first chapter, “Risk Management and the Choice between Secured and Unsecured Debt: Evidence from Natural Experiment,” I study whether and how corporate hedging affects firms’ choice between secured and unsecured debt. Exploiting the introduction of steel futures as a natural experiment, I provide causal evidence that risk management enables firms to switch from secured to unsecured debt without sacrificing debt capacity. Cross-sectional evidence supports the interpretation that risk management drives the results. The effects are stronger for firms that are more likely to …

The Crusading Days Of Jackie Stewart: Evaluating The Development Of Safety In Motor Racing During The 1960s., Alex Twitchen

Journal of Motorsport Culture & History

This article critically evaluates the contribution of Jackie Stewart in making motor racing a safer sport for competitors. It challenges the validity of the popular assumption that Jackie Stewart by himself developed a ‘culture of safety’ that transformed the sport. Instead, the role of other individuals are identified alongside the importance of three social processes. These processes are identified as the changing balance of power between different masculine identities, the development of commercial sponsorship and a growth in the coverage of the sport on television.

The development of motor racing from the 1960s onwards as a safer sport in which …

Daung Well By Daung Good, Leon Qiu, Singapore Management University

Perspectives@SMU

Leon Qiu started microfinance lending startup Daung Capital to help the unbanked in Myanmar. Can he adequately help the farmers there?

Manajemen Risiko: Tinjauan Regulasi Kearsipan, Ratih Surtikanti

Jurnal Administrasi Bisnis Terapan (JABT)

This study aims to examine the application of risk management in the archive sector. This article provides an overview of the application of risk management listed in the four regulations governing archives management, especially those issued by the National Archives of the Republic of Indonesia. Based on the results of the analysis of the four regulations, the following results were obtained as follows: Regulation of the head of the National Archives of the Republic of Indonesia number 31 of 2015 concerning the establishment of an archive depot, Regulation of the Head of the National Archives of the Republic of Indonesia …

Frm Financial Risk Meter, Andrija Mihoci, Michael Althof, Cathy Yi-Hsuan Chen, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

A systemic risk measure is proposed accounting for links and mutual dependencies between financial institutions utilizing tail event information. Financial Risk Meter (FRM) is based on least absolute shrinkage and selection operator quantile regression designed to capture tail event co-movements. The FRM focus lies on understanding active set data characteristics and the presentation of interdependencies in a network topology. Two FRM indices are presented, namely, FRM@Americas and FRM@Europe. The FRM indices detect systemic risk at selected areas and identify risk factors. In practice, FRM is applied to the return time series of selected financial institutions …

Hedging Season: The Effect Of Hedging Using Financial Derivatives On Firm Value Of Publicly-Listed Non-Financial Firms In The Philippines, Julio Alfonso D. Arrastia, Christina Angela N. Balagot, Joseph Anthony Go, Dominique Ann Philomena V. Lacuna

Angelo King Institute for Economic and Business Studies (AKI)

Firms use financial derivatives as a way to hedge risky transactions to avoid financial risks. Studies have focused on firms’ use of financial derivatives in developed countries. However, there is limited research done on emerging markets like the Philippines because these economies have only recently adapted advanced reporting standards that obligate the disclosure of the nature and extent of risks resulting from the use of financial instruments. We used Tobin’s Q ratio to proxy for firm value and to determine the presence of a hedging premium. Because derivatives are used by firms to hedge against currency risks, interest rate risks, …

Teaching Economic Risk Management Through A Video Game Concept, Samantha Montella

Senior Honors Projects

Many video games imply economic behavior: making decisions within a game highlights the fundamentals of human action. The basic idea is that virtual worlds, like the real world, present us with a series of choices. Games impose digital scarcity, obliging players to weigh the benefits of different courses of action, make tradeoffs, and incur costs.

Good examples are found in the role-playing game (RPG) genre, where players face tough choices between different specializations and skill trees. Obliging players to make difficult decisions highlights the opportunity costs of choice, not the money cost. Games also encourage players to think entrepreneurially: to …

Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick

Journal of Financial Crises

On April 13, 2012, JPMorgan Chase (JPM) Chief Financial Officer Douglas Braunstein took part in a conference call to discuss the bank’s first quarter 2012 earnings. Coming just a week after media reports first questioned the risks taken by JPM derivatives trader Bruno Iksil, Braunstein made a series of assertions about the trades. On May 10, JPM finalized its first quarter financial results, which included some disclosures regarding Iksil’s trading that were substantially different from Braunstein’s statements of April 13. At issue is whether the regulatory filings on April 13 and May 10, as well as verbal comments by Braunstein …

Jpmorgan Chase London Whale D: Risk-Management Practices, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

JPMorgan Chase (JPM) prided itself on having the best risk-management practices in the financial industry, having survived the 2007-09 financial crisis in better shape than many competitors. Chief Executive Officer Jamie Dimon often spoke of the bank’s “fortress balance sheet.” A keen focus on risk management is vital to JPM’s longevity, as is the case with all highly leveraged financial institutions. However, the JPM Task Force that investigated the $6 billion 2012 London Whale trading loss concluded that risk-management practices at the bank’s Chief Investment Office (CIO), the unit in which the loss occurred, were given less scrutiny by senior …

Supply Chain Managers' Reverse Logistics Strategies To Control Cost Through Risk Mitigation, Lawrence A. Reeves

Walden Dissertations and Doctoral Studies

Supply chain managers in the food and beverage industry face significant challenges regarding the use of effective reverse logistics strategies to reduce supply chain disruptions, control risk, and reduce costs. Through the lens of resource dependence theory, the purpose of this multiple case study was to explore reverse logistics strategies used by supply chain managers in the United States to control cost through risk mitigation. Participants in this study included 5 supply chain managers in the food and beverage distribution industry in the state of Georgia who implemented successful reverse logistics strategies to control cost through risk mitigation. Data were …

Risk Management In Telemedicine Projects In Healthcare, Shalini Sakinala

Dissertations and Theses

Telemedicine could fundamentally change health care in the United States by delivering treatments using telecommunications platform. The primary purpose of the proposed study is to identify the various risks involved in Telemedicine projects in healthcare, find out their causes and explore the ways in which the risks can be mitigated. This approach has been a striking evolution in the current healthcare sector. Telemedicine is hugely successful in the operations of the organization. Inspite of the huge success ratio, there are certain risks associated with Telemedicine which needs to be managed. The Literature review on Telemedicine was conducted in three core …

Relationship Between Corporate Governance And Information Security Governance Effectiveness In United States Corporations, Robert Elliot Davis

Walden Dissertations and Doctoral Studies

Cyber attackers targeting large corporations achieved a high perimeter penetration success rate during 2013, resulting in many corporations incurring financial losses. Corporate information technology leaders have a fiduciary responsibility to implement information security domain processes that effectually address the challenges for preventing and deterring information security breaches. Grounded in corporate governance theory, the purpose of this correlational study was to examine the relationship between strategic alignment, resource management, risk management, value delivery, performance measurement implementations, and information security governance (ISG) effectiveness in United States-based corporations. Surveys were used to collect data from 95 strategic and tactical leaders of the 500 …

Is Governance, Risk Management & Compliance [Grc] Snake Oil?, Emmanuel Moore Abolo Dr.

Dr. Emmanuel Moore Abolo

GRC is a new concept that is readily being applied across industries and sectors. All the three areas must be considered in an integrated manner to ensure the sustainability of organisations.

Managing The Risks In Financial Inclusion And Agency Banking, Emmanuel Moore Abolo Dr.

Dr. Emmanuel Moore Abolo

Ensuring access to appropriate financial products and services needed by vulnerable groups such as weaker sections and low income groups at an affordable cost in a fair and transparent manner by mainstream institutional poses risks that must be managed in an enterprise-wide form for greater impact.

Implications Of Off-Farm Income For Farm Income Stabilization Policies, Simon Jette-Nantel

Theses and Dissertations--Agricultural Economics

This dissertation examines to what extent off-farm diversification may be an appropriate and accessible tool to mitigate the adverse effects from market failures and incompleteness in the crop and farm income insurance market. While the influence of the nonfarm sector has long been recognized as a primary force in shaping farm structure, off-farm income is rarely acknowledge as a risk management tool for operators and households of commercial farms. The dissertation develops a dynamic model that includes capital market imperfections, economies of scale in farm production, and the presence of adjustment costs in labor allocation decisions. The model provides a …

Emp And Geomagnetic Storm Protection Of Critical Infrastructure, George H. Baker Iii

George H Baker

EMP and solar storm wide geographic coverage and ubiquitous system effects beg the question of “Where to begin?” with protection efforts. Thus, in addressing these “wide area electromagnetic (EM) effects,” we must be clever in deciding where to invest limited resources. Based on simple risk analysis, the electric power and communication infrastructures emerge as the highest priority for EM protection. Programs focused on these highest risk infrastructures will go a long way in lessoning societal impact. Given the national scope of the effects, such programs must be coordinated at the national level but implemented at local level. Because wide-area EM …

Of Revolution, Debt, And Social Unrest: The Challenges Of Political Risk, Beat Habegger, Kaspar Zellweger

Beat Habegger

No abstract provided.

Stress Testing: Where The Banks Got It Wrong & The Way Forward, Emmanuel Moore Abolo Dr.

Dr. Emmanuel Moore Abolo

No abstract provided.

Budget 2010 And Its Impact On Business Environment In Nigeria, Emmanuel Moore Abolo Dr.

Dr. Emmanuel Moore Abolo

The presentation focused on the implications of Nigeria's Budget 2010 on the business environment intended to guide strategy formulation of businesses in Nigeria.

Proceedings Of The 2009 Nrc Federal Facilities Council/James Madison University Symposium On Protecting Large Facility Complexes;, George H. Baker, Cheryl E. Wilkins

George H Baker

Large, complex facilities pose unique protection challenges involving multidisciplinary expertise and collaboration among government, academia, and the private sector. The symposium served as a forum for sharing experiences in dealing with large facility catastrophic events and risk management. The symposium was organized based on the value of interaction among different people representing diverse disciplines. In many instances, such interactions lead to solutions that would not have been developed within disciplinary stovepipes. The venue was divided into three panels addressing physical security, cyber security, and real facility case studies. We were also privileged to have three keynote speakers including Dr. Charles …

It Works For Mergers, Why Not Finance, Aaron S. Edlin, Richard J. Gilbert

Aaron Edlin

No abstract provided.

Safety Culture As A Contemporary Healthcare Construct: Theoretical Review, Research Assessment, And Translation To Human Resource Management., Patrick Albert Palmieri

Patrick Albert Palmieri

Through a number of comprehensive reviews, the Institute of Medicine (IOM) has recommended that healthcare organizations develop safety cultures in order to align delivery system processes with the workforce requirements to improve patient outcomes. Until health systems can provide safer care environments, patients remain at risk for suboptimal care and adverse outcomes. Health science researchers have begun to explore how safety cultures might act as an essential system feature to improve organizational outcomes. Since safety cultures are established via modification in employee safety perspective and work behavior, human resource professionals need to contribute to this developing organizational domain. The IOM …

Risk Governance Deficits: An Analysis And Illustration Of The Most Common Deficits In Risk Governance, Beat Habegger, John D. Graham, Belinda Cleeland, Marie-Valentine Florin

Beat Habegger

No abstract provided.

Homeland Security: Fostering Public-Private Partnerships, George H. Baker, Cheryl J. Elliott

George H Baker

Recent U.S. high consequence events have clarified the importance of government collaboration with industry. The benefit of such collaboration was one of the most important lessons learned from Hurricane Katrina. The resources owned and controlled by American industry dwarf those available to local, state and even the federal government departments. Better agreements and incentives to bring the full capabilities of industry squarely into the national response agenda will be indispensable in effectively responding to large-scale catastrophes. At our 2007 Symposium, General Russel Honoré, who led the National Guard response to Katrina stated, “We need the partnering between local, state, and …

Attribution Theory And Healthcare Culture: Translational Management Science Contributes A Framework To Identify The Etiology Of Punitive Clinical Environments, Patrick Albert Palmieri

Patrick Albert Palmieri

The Institute of Medicine’s seminal report, To err is human: Building a safer health system, established the national patient safety framework and initiated interest in changing the traditionally punitive healthcare culture. This paper reviews a multidisciplinary literature and offers an attribution framework to explicate the organizational processes that contribute to an industry-wide culture where clinicians are routinely blamed for adverse patient events. Attribution theory is concerned with the manner in which people explain the behaviors of others or themselves by assigning causality for events. To date, attribution theory, though well established in the management literature, has yet to be translated …

A Comparison Of The Economic Profitability Of Specified Risk Management Alternatives For Intermountain West Farmers, Cody D. Bingham

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The purpose of this research is to provide quantitative and limited qualitative analysis for the United States Intermountain West on the economic effectiveness of risk management alternatives in an agricultural operation. This research is not meant to be an exhaustive comparison of every potential combination of alternatives and risk scenarios. Instead, specific parameters such as farm size, crops grown, risk attitudes and risk management strategies are set to guide the research and offer a basis of comparison.

This research evaluates several levels of coverage using Multiple Peril Crop Insurance, Crop Revenue Coverage Insurance, Adjusted Gross Revenue – Lite Insurance and …

Cascading Infrastructure Failures: Avoidance And Response, George H. Baker, Cheryl J. Elliott

George H Baker

No critical infrastructure is self-sufficient. The complexity inherent in the interdependent nature of infrastructure systems complicates planning and preparedness for system failures. Recent wide-scale disruption of infrastructure on the Gulf Coast due to weather, and in the Northeast due to electric power network failures, dramatically illustrate the problems associated with mitigating cascading effects and responding to cascading infrastructure failures once they have occurred.

The major challenge associated with preparedness for cascading failures is that they transcend system, corporate, and political boundaries and necessitate coordination among multiple, disparate experts and authorities. This symposium brought together concerned communities including government and industry …

Technological Iatrogenesis: New Risks Force Heightened Management Awareness, Patrick Albert Palmieri

Patrick Albert Palmieri

Iatrogenesis is a term typically reserved to express the state of ill health or the adverse outcome resulting from a medical intervention, or lack thereof. Three types of iatrogenesis are described in the literature: clinical, social and cultural. This paper introduces a fourth type, technological iatrogenesis, or emerging errors stimulated by the infusion of technological innovations into complex healthcare systems. While health information technologies (HIT) have helped to make healthcare safer, this has also produced contemporary varieties of iatrogenic errors and events. The potential pitfalls of technological innovations and risk management solutions to address these concerns are discussed. Specifically, failure …