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Articles 1771 - 1800 of 1934

Full-Text Articles in Business

Research Opportunities In Internal Auditing, Douglas F. Prawitt Jan 2003

Research Opportunities In Internal Auditing, Douglas F. Prawitt

Faculty Publications

This chapter discusses staffing and managing the internal audit function (IAF) as a component of organizational governance, and has two main purposes. First, it familiarizes interested practitioners and researchers with current trends and issues in staffing and managing the IAF. Second, it suggests questions and topics for future thinking and research among practitioners and academics. Managing and staffing an IAF is a vast and complex undertaking that remains relatively unexplored by rigorous research. The chapter contains several citations to practitioner information and academic research, but it does not attempt to include a comprehensive literature review of all relevant articles or …

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Some Loans Are More Equal Than Others: Third-Party Originations And Defaults In The Subprime Mortgage Industry, William P. Alexander, Scott D. Grimshaw, Grant R. Mcqueen, Barrett A. Slade Jan 2003

Some Loans Are More Equal Than Others: Third-Party Originations And Defaults In The Subprime Mortgage Industry, William P. Alexander, Scott D. Grimshaw, Grant R. Mcqueen, Barrett A. Slade

Faculty Publications

We show how agency problems between lenders (principals) and third-party originators (TPO; agents) imply that TPO-originated loans are more likely to default than similar retail-originated loans. The nature of the agency problem is that TPOs are compensated for writing loans, but are not completely held accountable for the subsequent performance of those loans. Using a hazard model with jointly estimated competing risks and unobserved heterogeneity, we find empirical support for the TPO/default prediction using individual fixedrate subprime loans with first liens secured by residential real estate originated between January 1, 1996, and December 31, 1998. We find that apparently equal …

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Parent And Child Perspectives Of Family Leisure Involvement And Satisfaction With Family Life, Ramon B. Zabriskie, Bryan P. Mccormick Jan 2003

Parent And Child Perspectives Of Family Leisure Involvement And Satisfaction With Family Life, Ramon B. Zabriskie, Bryan P. Mccormick

Faculty Publications

The purpose of this study was to examine the relationship between family leisure involvement and satisfaction with family life. The sample consisted of 179 families. Data were analyzed at the parent, child, and family level. Findings indicated that family leisure involvement was the strongest multivariate predictor of family satisfaction from the parent perspective, but was not a significant multivariate predictor from the child's perspective. At the family level of measurement, only the block including Core and Balance family leisure variables explained a significant portion of the variance in family satisfaction. History of divorce was a negative multivariate predictor of family …

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Efficient Estimation Of Conditional Asset-Pricing Models, Douglas J. Hodgson, Keith Vorkink Jan 2003

Efficient Estimation Of Conditional Asset-Pricing Models, Douglas J. Hodgson, Keith Vorkink

Faculty Publications

A semiparametric efficient estimation procedure is developed for the parameters of multivariate generalized autoregressive conditional heteroscedasticity-in-mean models when the disturbances have a conditional distribution assumed to be elliptically symmetric but otherwise unrestricted. Under highlevel assumptions, the resulting estimator achieves the asymptotic semiparametric efficiency bound. The elliptical symmetry assumption allows us to avert the curse of dimensionality problem that would otherwise arise in estimating the unknown error distribution. This framework is suitable for the estimation and testing of conditional asset-pricing models, such as the conditional capital asset-pricing model. We apply our procedure in an empirical study of stock prices, with Monte …

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Trust And The Decision To Outsource: Affective Responses And Cognitive Processes, Mark Hansen, J.L. Morrow Jr. Jan 2003

Trust And The Decision To Outsource: Affective Responses And Cognitive Processes, Mark Hansen, J.L. Morrow Jr.

Faculty Publications

Many of the various forms of cooperative strategy that firms are pursuing in today’s economy entail the placing of important business functions in the hands of a partner. This paper examines the role of trust in the decision by a producer to place the marketing function in the hands of another entity, namely a cooperative. Although others have studied the effect of what may be termed general trust on inter-organizational relationships, few have examined the antecedents of that trust. We propose a model in which affective responses and cognitive processes are precursors to a sense of general trust, which, in …

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Vol. 04 No. 2 Journal Of Microfinance, Journal Of Microfinance Sep 2002

Vol. 04 No. 2 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Challenges To Microfinance Commercialization, Anita Campion Sep 2002

Challenges To Microfinance Commercialization, Anita Campion

Journal of Microfinance / ESR Review

This paper was presented to audiences in Vietnam, Indonesia, Singapore and the Philippines through a World Bank multimedia distance education program in October 2001. The presentation addressed some of the core obstacles to microfinance commercialization, defined here as the application of market-based principles to providing financial services to the poor. The paper discusses some of the challenges to microfinance commercialization, such as inappropriate donor subsidies, poor regulation and supervision, and limited management capacity of microfinance institutions. Given the initial target audience of primarily World Bank employees, the paper concludes with a discussion on what donor can do to move microfinance …

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To Pay Or Not To Pay?: Local Institutional Differences And The Viability Of Rural Credit In Nicaragua, Johan Bastiaensen, Ben D'Exelle Sep 2002

To Pay Or Not To Pay?: Local Institutional Differences And The Viability Of Rural Credit In Nicaragua, Johan Bastiaensen, Ben D'Exelle

Journal of Microfinance / ESR Review

Innovative credit enterprises, aiming to expand the frontier of the rural credit market, can attain financial sustainabihty and broadened social outreach if they embed financial operations in local institutions, such as social networks and prevailing rules. Only in this way can the "rules of the game" imposed by the credit enterprise gain the local legitimacy that is necessary to reduce transaction costs sufficiently. The nature of preexisting local institutional environments, therefore, has a profound effect on the performance of credit enterprises. Our analysis of a rural microcredit program in two neighboring villages in Nicaragua indicates that existing patron-client structures, conditioned …

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Community Savings Funds: Providing Access To Basic Financial Services In Marginalized Rural Areas Of Mexico, Gabriala Zapata Sep 2002

Community Savings Funds: Providing Access To Basic Financial Services In Marginalized Rural Areas Of Mexico, Gabriala Zapata

Journal of Microfinance / ESR Review

The Community Savings Funds (CSFs) promoted by the Ministry of Agriculture in Mexico seek to provide marginalized community groups with a simple mechanism that allows them to save and administer their own funds securely, efficiently, and profitably, according to their own needs and priorities. Specially trained promoters help set up CSFs for a period of one year—using a standardized Toolkit—after which they are expected to work autonomously. There are 540 CSFs in 12 states with over 12,800 members and savings totaling 4.45 million pesos (US 5445,000). This paper describes the characteristics of the CSF model and the results to date. …

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Care's Mata Masu Dubara (Women On The Move) Program In Niger: Successful Financial Intermediation In The Rural Sahel, William J. Grant, Henry C. Allen [email protected] Sep 2002

Care's Mata Masu Dubara (Women On The Move) Program In Niger: Successful Financial Intermediation In The Rural Sahel, William J. Grant, Henry C. Allen [email protected]

Journal of Microfinance / ESR Review

CARE's Mata Masu Dubara (MMD) project is a women's time-bound accumulating savings and credit association (ASCA) program in rural Niger. Over the past decade, CARE has facilitated the creation of over 5,500 active women's groups with over 162,000, providing the purest forms of financial intermediation to their members in some of the poorest parts of Niger. Working from a very simple and appropriately adapted savings based product, sustainability and replication of the associations is easy to achieve. Due to the overwhelming demand for the product, CARE's role has evolved from service provider creating the associations to a facilitator that trains …

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Front Matter, Journal Of Microfinance Sep 2002

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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The New Microfinance: An Essay On The Self-Help Group Movement In India, Kim Wilson Sep 2002

The New Microfinance: An Essay On The Self-Help Group Movement In India, Kim Wilson

Journal of Microfinance / ESR Review

Indian NGOs have created at least one million self-help groups with 17,000,000 members since the self-help group concept was developed by MYRADA in the late 1980s. India is unique in that banks are permitted to lend directly to unregistered self-help groups and by May 2001, banks and cooperatives had financed 461,478 of these groups, with almost 200,000 new self-help groups financed between May 2000 and May 2001, indicating an accelerated process of expansion. The National Bank for Agriculture and Rural Development (NABARD) trains banks and refinances their loans. The key to NABARD's success is decentralization. Responsibility for group development and …

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Evaluation And Microenterprise Programs In The United States, Mark Schreiner Sep 2002

Evaluation And Microenterprise Programs In The United States, Mark Schreiner

Journal of Microfinance / ESR Review

Microenterprise programs attempt to help poor people start or strengthen small businesses. Funding and political support have grown rapidly. Is microenterprise a good use of scarce development funds? Unfortunately, most evaluations have been case studies in what not to do. Because benefits and costs cannot be measured completely nor with perfect certainty, rigorous evaluations should support their necessarily subjective judgements with logic and explicit assumptions. The usefulness of an evaluation lies not in its (apparent) incontrovert-ibility but rather in its clarity of assumptions and in its openness to meaningful review and critique.

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A Symposium On Savings-Led Microfinance And The Rural Poor, Jeffrey Ashe Sep 2002

A Symposium On Savings-Led Microfinance And The Rural Poor, Jeffrey Ashe

Journal of Microfinance / ESR Review

No abstract provided.

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Pact's Women's Empowerment Program In Nepal : A Savings- And Literacy- Led Alternative To Financial Building, Jeffrey Ashe, Lisa Parrott [email protected] Sep 2002

Pact's Women's Empowerment Program In Nepal : A Savings- And Literacy- Led Alternative To Financial Building, Jeffrey Ashe, Lisa Parrott [email protected]

Journal of Microfinance / ESR Review

Pact's Women's Empowerment Program (WEP) in Nepal operated through 6,500 groups with 130,00 women members. These groups mobilized nearly $2,000,000 of assets in less than three years with 94% on loan to 45,000 group members. By mid 2001, WEP had as many outstanding loans as CARD in the Philippines and Compartamos in Mexico, two very well known "credit-led" microfi-nance institutions, while working through three times as many groups. In addition, 65,000 group members learned to read through Pact's innovative curriculum that focused exclusively on managing a group, starting a business, and women's empowerment. WEP was implemented by 240 partners (most …

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End Matter, Journal Of Microfinance Sep 2002

End Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Ashrai: A Savings-Led Model For Fighting Poverty And Discrimination, Brett Matthews, Ahsan Ali [email protected] Sep 2002

Ashrai: A Savings-Led Model For Fighting Poverty And Discrimination, Brett Matthews, Ahsan Ali [email protected]

Journal of Microfinance / ESR Review

Ashrai is getting results with a savings-led model among minority peoples in northwest Bangladesh. These people are mostly landless and illiterate, and earn about $50 a year per person. They are a vital population segment that microfinance institutions in Bangladesh and elsewhere are unable to serve successfully. Ashrai began its field work ten years ago by replicating Grameen Bank, but rapidly learned from its clients that they needed savings at least at much as loans, flexible loan repayment schedules structured around seasonal cash flow, and an easing of the requirement that loans be for productive purposes. Ashrai takes an innovative …

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Savings And Credit For U.S. Microenterprises : Integrating Individual Development Accounts And Loans For Microenterprise, Caroline E. Glackin, Eliza G. Mahony Sep 2002

Savings And Credit For U.S. Microenterprises : Integrating Individual Development Accounts And Loans For Microenterprise, Caroline E. Glackin, Eliza G. Mahony

Journal of Microfinance / ESR Review

This paper provides a framework for the integration of two asset-building instruments, Individual Development Accounts (IDAs) and loans for microenterprise. Initially, it provides an overview of the emergence of the asset-based approach to poverty alleviation in the U.S. context and the evolution of IDAs and microenterprise development (MED). Then, it evaluates the potential role of IDAs in reducing risk using conventional lending criteria. The paper summarizes the findings of initial research on integrated programs and highlights four case studies. Finally, the paper provides some preliminary observations regarding potential benefits and challenges of the integrated approach and proposes an agenda for …

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Book Review: Inner-City Entrepreneurship Development: The Microcredit Challenge By Nitin Bhatt, Jerry Black Sep 2002

Book Review: Inner-City Entrepreneurship Development: The Microcredit Challenge By Nitin Bhatt, Jerry Black

Journal of Microfinance / ESR Review

No abstract provided.

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Unfinished Business: The Need For More Effective Microfinance Exit Monitering, James G. Copestake Sep 2002

Unfinished Business: The Need For More Effective Microfinance Exit Monitering, James G. Copestake

Journal of Microfinance / ESR Review

High rates of exit remain the "Achilles heel" of many micro-finance organizations. After reviewing definitional issues, the paper explores how exit rates adversely affect both their commercial and social objectives. It then reviews case studies of exit monitoring based on routine, questionnaire based and focus group methods, making detailed suggestions as to how data collection, analysis and reporting can be improved.

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Enjoy Brick Oven: Pizza At Its Best, Pasta Made Fresh, Matt Bills, Jeremy Matkin, Shalee Summers Jan 2002

Enjoy Brick Oven: Pizza At Its Best, Pasta Made Fresh, Matt Bills, Jeremy Matkin, Shalee Summers

Student Works

Brick Oven Restaurant was established in 1956 as one of Provo's first pizza parlors, named "Heaps a Pizza." In those days, pizza was a new food and most people had never eaten it. After being an employee since 1958, Glee Zumbrennen purchased the restaurant in 1962. The dining room consisted of folding chairs and a few booths that sat about 75 people. The business continued to grow, and the folding chairs and benches gave way to upholstered booths. Pizza was becoming more popular and Heaps was developing a wide reputation for its delicious pizza. The business was built with great …

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Litetouch: Brilliant Solutions In Lighting: Dealer Perception Study, Josh Rolph, Winnie Lo, Marcia Randall, Leslie Layman Jan 2002

Litetouch: Brilliant Solutions In Lighting: Dealer Perception Study, Josh Rolph, Winnie Lo, Marcia Randall, Leslie Layman

Student Works

The purpose of this study is to determine competitive advantage and overall customer perception of LiteTouch. The research will attempt to discover whether or not LiteTouch's perception of its own core competencies match with customers' opinions. Furthermore, the research is to help LiteTouch know what dealers perceive about the company's competitors—Lutron, Vantage, and Centralite. Mountain West Research comprised of Josh Rolph, Willie Lo, Marcia Randall, Leslie Layman and Mark Adams.

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Scera, Jonathan Dunn, Jaime Power, Kent O. Smith, Lindsey Woodward Jan 2002

Scera, Jonathan Dunn, Jaime Power, Kent O. Smith, Lindsey Woodward

Student Works

In 1933, Sharon's Cultural, Educational, Recreational Association (SCERA) was founded by the Sharon Stake of the Church of Jesus Christ of Latter-day Saints in Orem, Utah. When founded, its purpose was to provide wholesome family-oriented events, theatrical productions, and showcase Community talent. Today, in a world of declining morals, SCERA continues to provide clean entertainment for families. However, the competition in the Orem-Provo area for family entertainment has increased significantly. In an attempt to increase their market share and improve their operations they asked our research group, Quantum Consulting, to conduct research to find who their target market is, and …

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Snowbird/Alta Combination Ticket Study: A Marketing Research Study For Snowbird / Prepared By Snowflake Research (Part 1), Brent Castle, Joshua Howe, Joshua Mason Jan 2002

Snowbird/Alta Combination Ticket Study: A Marketing Research Study For Snowbird / Prepared By Snowflake Research (Part 1), Brent Castle, Joshua Howe, Joshua Mason

Student Works

The proposed research will be comprehensive in nature. The ultimate goal of this project is to study the clientele of Snowbird and evaluate their awareness of the new Snowbird / Alta Combination Ticket. This objective will be achieved by surveying skiers about the following: What would encourage them to purchase the combination ticket. How much would they pay for the combination ticket. How much does price influence the skiers decision to purchase the combination ticket. What type of discount/package would encourage skiers to purchase the ticket. Snowflake Research comprised of Brent Castle, Joshua Howe, Joshua Mason.

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A Marketing Research Study: Entertainment Preferences And Perceptions Among Teenagers In Utah County And Salt Lake County High Schools / Prepared For Thanksgiving Point Institute, Richard L. Frost, Jeff Watson, Clark Cotterell, Colby Slaughter Jan 2002

A Marketing Research Study: Entertainment Preferences And Perceptions Among Teenagers In Utah County And Salt Lake County High Schools / Prepared For Thanksgiving Point Institute, Richard L. Frost, Jeff Watson, Clark Cotterell, Colby Slaughter

Student Works

Thanksgiving Point Institute is interested in attracting more teenagers to its entertainment resort in Lehi, Utah. In order to better understand how to become a teenage entertainment destination, Thanksgiving Point must find the answers to three important questions: 1) What are teenagers' entertainment habits and preferences? 2) What are teenagers' current perceptions of Thanksgiving Point, and how would they suggest improvement? 3) Through what media can teenagers most effectively be reached? University Research Consultants comprised of Rick Frost, Jeff Watson, Clark Cotterell and Colby Slaughter.

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Snowbird/Alta Combination Ticket Study: A Marketing Research Study For Snowbird / Prepared By Snowflake Research (Part 2), Brent Castle, Joshua Howe, Joshua Mason Jan 2002

Snowbird/Alta Combination Ticket Study: A Marketing Research Study For Snowbird / Prepared By Snowflake Research (Part 2), Brent Castle, Joshua Howe, Joshua Mason

Student Works

The proposed research will be comprehensive in nature. The ultimate goal of this project is to study the clientele of Snowbird and evaluate their awareness of the new Snowbird / Alta Combination Ticket. This objective will be achieved by surveying skiers about the following: What would encourage them to purchase the combination ticket. How much would they pay for the combination ticket. How much does price influence the skiers decision to purchase the combination ticket. What type of discount/package would encourage skiers to purchase the ticket. Snowflake Research comprised of Brent Castle, Joshua Howe, Joshua Mason.

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The Investment Opportunity Set And Capitalization Versus Expensing Methods Of Accounting Choice, Dan S. Dhaliwal, William G. Heninger, K.E. Hughes Ii Jan 2002

The Investment Opportunity Set And Capitalization Versus Expensing Methods Of Accounting Choice, Dan S. Dhaliwal, William G. Heninger, K.E. Hughes Ii

Faculty Publications

This paper examines the effects of the investment opportunity set (IOS) on management's decision to capitalize or expense significant costs in two diverse settings: (1) in accounting for exploration and development (E&D) costs by firms in the oil-and-gas industry, and (2) in accounting for research and development (R&D) costs by firms (across industries) prior to 1974. We argue that the relation between the IOS and the decision to capitalize versus to expense is based upon managerial incentives to reduce the variance of accounting earnings. High-growth firms are more likely to have more variable earnings, which therefore creates greater incentives to …

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Firm Transparency And The Costs Of Going Public, James S. Ang, James C. Brau Jan 2002

Firm Transparency And The Costs Of Going Public, James S. Ang, James C. Brau

Faculty Publications

We demonstrate that firms that are more transparent pay less, in all components of issuance costs, to go public.We employ a sample of 334 previous leveraged buyouts and a characteristic-matched control sample to test the hypothesis that greater firm transparency before the issue decreases the flotation costs of the initial public offering. These flotation costs are divided into initial underpricing, underwriter discount, administrative expenses, and the overallotment option required to take the firm public. Our results provide further evidence of the asymmetric information hypothesis as it applies to initial public offerings.

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A Metropolitan Transaction-Based Commercial Price Index: A Time-Varying Parameter Approach, Henry J. Munneke, Barrett A. Slade Jan 2002

A Metropolitan Transaction-Based Commercial Price Index: A Time-Varying Parameter Approach, Henry J. Munneke, Barrett A. Slade

Faculty Publications

This study examines the usefulness of time-varying parameter techniques for constructing reliable transaction-based commercial price indices for metropolitan areas. Time-varying parameter techniques allow the implicit prices of differing quality characteristics to vary intertemporally, overcoming the potential bias imposed by holding implicit prices fixed and simply interpreting time dummy variables as in a conventional hedonic approach. This paper empirically investigates three time-varying parameter methods (Chained, Laspeyres, and Paasche) and considers the potential for sample selection bias. Precision measures are constructed to examine the reliability of the respective indices.

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The Role Of Outdoor Recreation In Family Enrichment, Patti A. Freeman, Ramon B. Zabriskie Jan 2002

The Role Of Outdoor Recreation In Family Enrichment, Patti A. Freeman, Ramon B. Zabriskie

Faculty Publications

The family is the fundamental unit in society and perhaps the oldest and most important of all human institutions. Several studies have indicated a positive correlation between strong, successful families and family participation in outdoor recreational activities. This paper addresses the role of structured outdoor recreation programming in family enrichment. Findings from two studies based in the United States are presented: one on the effect of a one–day family outdoor adventure program on parental and child perceptions of family functioning and the other from a qualitative inquiry into the meaning of family residential camping experiences. The first study collected both …

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