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Articles 1831 - 1860 of 1934

Full-Text Articles in Business

Research Summary 6: Analytical Procedures And Audit Planning Decisions, Steven M. Glover, James Jiambalvo, Jane Kennedy Feb 2001

Research Summary 6: Analytical Procedures And Audit Planning Decisions, Steven M. Glover, James Jiambalvo, Jane Kennedy

Faculty Publications

Auditors perform analytical procedures in planning the nature, timing and extent of testing. Significant fluctuations between the current year’s unaudited data and expected results signal an increased risk of material error and help auditors focus their planned tests on high-risk areas. This study examined auditors’ decisions to revise preliminary audit plans after analytical procedures performed during planning revealed significant, unexpected fluctuations. Specifically we examined whether the extent of corroboration for management’s explanation for the fluctuation and the presence of an explicit incentive for management to misstate the financial statements influenced auditors’ decisions to revise their audit plans.

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Parents' Weekend Study 2001: Prepared For Byu Alumni Association, Laura Minor, Rebecca Keddington, Brian Catmull Jan 2001

Parents' Weekend Study 2001: Prepared For Byu Alumni Association, Laura Minor, Rebecca Keddington, Brian Catmull

Student Works

Parents' Weekend has become a tradition at many colleges and universities across the nation. Parents of students are invited to spend a weekend learning about their child's experience at school and experiencing for themselves many of the activities that take place on campus. LRB Marketing comprised of Laura Minor, Rebecca Keddington, Brian Catmull.

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If It’S Wrong, It’S Wrong; And More Talk Won’T Make It Right, David J. Cherrington, Owen J. Cherrington Jan 2001

If It’S Wrong, It’S Wrong; And More Talk Won’T Make It Right, David J. Cherrington, Owen J. Cherrington

Faculty Publications

We find the moral relativism underlying postmodernism quite disturbing when it comes to discussions of truth and honesty. The following experience illustrates the benefit of a clear, universal standard regarding cheating.

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The Determinants Of Successful Micro-Ipos: An Analysis Of Issues Made Under The Small Corporate Offering Registration (Scor) Procedure, James C. Brau, Jerome S. Osteryoung Jan 2001

The Determinants Of Successful Micro-Ipos: An Analysis Of Issues Made Under The Small Corporate Offering Registration (Scor) Procedure, James C. Brau, Jerome S. Osteryoung

Faculty Publications

In this article we extend the existing IPO literature to the case of micro-IPOs by analyzing a sample of Small Corporate Offering Registration (SCOR) documents from the U.S. state ofWashington. Through theory, we identified variables that should impact the probability of success or failure in a SCOR offering and then empirically tested them. Empirical support was found for the relevance of (1) marketing mechanisms and expenses; (2) ownership and governance factors; (3) business life cycle stages; and (4) signaling factors consistent with our theoretical predictions.

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The Teenage Mind - Part 1, David J. Cherrington, Owen J. Cherrington Jan 2001

The Teenage Mind - Part 1, David J. Cherrington, Owen J. Cherrington

Faculty Publications

When we see teenagers do things that are seriously wrong or illegal we often ask, “Why did they do such a stupid thing?” “What in the world were they thinking?” In fact, teenagers do many stupid things and sometimes it appears they were not really thinking. But when we examine what goes through their minds it is easier to understand why they sometimes act dishonestly. We also learn that the excuses teenagers make for being dishonest are not much different than the rationalizations used by adults.

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The Power Of Suggestion: Inertia In 401k Participation And Savings Behavior, Brigitte C. Madrian, Dennis F. Shea Jan 2001

The Power Of Suggestion: Inertia In 401k Participation And Savings Behavior, Brigitte C. Madrian, Dennis F. Shea

Faculty Publications

In this paper, we analyze the 401(k) savings behavior of employees in a large U.S. corporation before and after an interesting change in the company 401(k) plan. Before the plan change, employees were required to affirmatively elect participation in the 401(k) plan. After the plan change, employees were automatically and immediately enrolled in the 401(k) plan unless they made a negative election to opt out of the plan. Although none of the economic features of the plan changed, this switch to automatic enrollment dramatically changed the savings behavior of employees. We have two key findings. First, 401(k) participation is significantly …

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The Bullet Gic As An Example, David F. Babbel, Jeremy Gold, Craig B. Merrill Jan 2001

The Bullet Gic As An Example, David F. Babbel, Jeremy Gold, Craig B. Merrill

Faculty Publications

There has been considerable discussion of a variety of issues related to fair value in the actuarial literature, in conferences, and among individuals interested in this topic. Unfortunately, we seem to be failing to communicate due, in part, to inconsistent use of terminology. The goal of this discussion paper is to present a few concepts that we hope will be of use in the broader discussion of fair value of liabilities.

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Good Day Sunshine: Stock Returns And The Weather, David Hirshleifer, Tyler Shumway Jan 2001

Good Day Sunshine: Stock Returns And The Weather, David Hirshleifer, Tyler Shumway

Faculty Publications

Psychological evidence and casual intuition predict that sunny weather is associated with upbeat mood. This paper examines the relationship between morning sunshine in the city of a country's leading stock exchange and daily market index returns across 26 countries from 1982 to 1997. Sunshine is strongly significantly correlated with stock returns. After controlling for sunshine, rain and snow are unrelated to returns. Substantial use of weatherbased strategies was optimal for a trader with very low transactions costs. However, because these strategies involve frequent trades, fairly modest costs eliminate the gains. These findings are difficult to reconcile with fully rational price …

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Do Behavioral Biases Affect Prices?, Joshua D. Coval, Tyler Shumway Jan 2001

Do Behavioral Biases Affect Prices?, Joshua D. Coval, Tyler Shumway

Faculty Publications

This paper documents strong evidence of behavioral biases among Chicago Board of Trade proprietary traders and investigates the effect these biases have on prices. Our traders appear highly loss-averse. Traders who experience morning losses are about 16 percent more likely to assume above-average afternoon risk than traders with morning gains. This behavior has important short-term consequences for afternoon prices, as losing traders are prepared to purchase contracts at higher prices and sell contracts at lower prices than those that prevailed previously. However, during the ten minutes that follow these trades, prices revert strongly to their earlier levels. Consistent with these …

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An Empirical Examination Of Sba Guaranteed Loans: Rates, Collateral, Agency Costs, And The Time To Obtain The Loan, James C. Brau, Jerome S. Osteryoung Jan 2001

An Empirical Examination Of Sba Guaranteed Loans: Rates, Collateral, Agency Costs, And The Time To Obtain The Loan, James C. Brau, Jerome S. Osteryoung

Faculty Publications

We empirically examine a sample of over 350 entrepreneurial firms that successfully receive an SBA guaranteed loan. The first portion of the paper contains descriptive statistics that lend anecdotal evidence concerning the organization type of borrowers, the incidence of collateral, the reasons for choosing the financial institution in which the SBA loan is secured, the main purpose for the SBA loan, and alternative actions that would have been undertaken had the SBA guaranteed loan not been obtained. The second portion of the paper poses theoretical predictions and tests them via multivariate models. Issues that are considered include the number of …

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Service Learning In Business Schools: What The H.E.L.P. Honduras Story Teaches About Building, Sustaining, And Replicating International Initiatives In Graduate Programs, Lisa Mali Jones Jan 2001

Service Learning In Business Schools: What The H.E.L.P. Honduras Story Teaches About Building, Sustaining, And Replicating International Initiatives In Graduate Programs, Lisa Mali Jones

Theses and Dissertations

This document outlines the foundation and first year results of the H.E.L.P. Honduras organization, which was formed as a student-based, student-governed international outreach initiative at the Marriott School of Management at Brigham Young University. Specifically, in its first year the organization focused on providing microcredit and service relief to victims of Hurricane Mitch in Honduras.

After studying the case of H.E.L.P. Honduras, readers should conclude that educators interested in sponsoring sustainable student-run service learning organizations at private universities must address three primary issues: the problem of student selection and turnover, the need for administrative and faculty endorsement, and the need …

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Replication: Regressive Reproduction Or Progressive Evolution?, Graham Wright Sep 2000

Replication: Regressive Reproduction Or Progressive Evolution?, Graham Wright

Journal of Microfinance / ESR Review

Increasing numbers of organizations are "replicating" the programs of successful microfinance institutions (MFIs). This approach allows rapid start-up using tested models and systems. These strengths are also weaknesses, though, since the models being replicated usually require substantial modifications to make them appropriate for local conditions. Furthermore, close adherence to "blueprints" is likely to substitute for careful research into the needs and opportunities for the provision of financial services to the poor--and thus the design of appropriate systems. Replication also risks the suppression of innovative ways of providing still better financial services--particularly when promoted by powerful apex funding organizations, as is …

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Impact Assessment Of Microfinance And Organizational Learning: Who Will Survive?, James G. Copestake Sep 2000

Impact Assessment Of Microfinance And Organizational Learning: Who Will Survive?, James G. Copestake

Journal of Microfinance / ESR Review

To what extent is it possible for organizations to reflect honestly on their own performance, draw appropriate conclusions, and then act on them? For many microfinance organizations this is now a question of survival. This paper argues that formal impact assessment can assist in the transition from donor-controlled replication projects to autonomous and adaptable organizations--but it often fails to do so. Pitfalls include inadequate attention to methodological detail and to the links between impact assessment and wider aspects of organizational change. The paper starts by highlighting the complexity of the overall task to which impact assessment is expected to contribute. …

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Vol. 02 No. 2 Journal Of Microfinance, Journal Of Microfinance Sep 2000

Vol. 02 No. 2 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Front Matter, Journal Of Microfinance Sep 2000

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Banking On Customer Loyalty, Craig Churchill Sep 2000

Banking On Customer Loyalty, Craig Churchill

Journal of Microfinance / ESR Review

Enhancing customer loyalty is a microfinance institution's most important business strategy. Every critical element involved in managing microfinance operations--from product pricing to staff incentives, from marketing to eligibility requirements, from client screening to the menu of available services--can (and should) be formulated to promote loyalty. While most MFIs recognize the importance of client retention, few have designed business strategies to maximize customer loyalty. Hopefully that will change. This article details the economic impact that customer loyalty has on a microfinance institution (and the negative effect of desertion).

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Moving Microenterprises Beyond A Subsistence Plateau, Beth C. Haynes, Kristie K. Seawright, William C. Giauque Sep 2000

Moving Microenterprises Beyond A Subsistence Plateau, Beth C. Haynes, Kristie K. Seawright, William C. Giauque

Journal of Microfinance / ESR Review

Enthusiasm for microcredit programs has increased during the past decade. The attention these programs have drawn stems philosophically from progress in cultivating self-sufficiency among those in abject poverty, and practically from the viability and high loan repayment rates of many microfinance institutions. The programs assume that lack of capital is the main barrier to the economic progress of the poor. The lack of entrepreneur business management experience and training, however, may create a barrier equally powerful and limit the growth potential of microenterprises. Microcredit programs could foster even greater economic progress by ensuring that clients receive appropriate human capital development. …

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Book Review- Microfinance And Poverty: Questioning The Conventional Wisdom By Hege Gulli, Lisa M. Jones Sep 2000

Book Review- Microfinance And Poverty: Questioning The Conventional Wisdom By Hege Gulli, Lisa M. Jones

Journal of Microfinance / ESR Review

No abstract provided.

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Microfinance In The United States: The Working Capital Experience— Ten Years Of Lending And Learning, Jeffrey Ashe Sep 2000

Microfinance In The United States: The Working Capital Experience— Ten Years Of Lending And Learning, Jeffrey Ashe

Journal of Microfinance / ESR Review

Working Capital is the United States' largest peer-group lending program. This article reviews what Working Capital has learned about the market, its customers, program impact, and service delivery over its ten year history. It presents a model for understanding how participating in peer lending groups develops “social and economic capital” in poor communities. The article then discusses how participants judge the group model as they identify the characteristics of successful groups and the impact of the group on their businesses, on themselves personally, and on the larger community. The rest of the article discusses how Working Capital evolved from a …

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Capital Enhancement Guarantees And Risk Management By Capital-Constrained Lenders, J.D. Von-Pischke Sep 2000

Capital Enhancement Guarantees And Risk Management By Capital-Constrained Lenders, J.D. Von-Pischke

Journal of Microfinance / ESR Review

Commercial lenders require capital to bear risk. The capital enhancement guarantee (CEG) encourages lenders to make loans they would not otherwise make, such as microenterprise loans. The CEG is auctioned and awarded to bidders who promise the greatest amount of new lending for a given increment of permanent capital. Whether the incremental lending causes losses or gains for the lender, the incremental capital is free. The CEG subsidizes innovation in risk management. It places the analytical focus on risk and its cost, supports the key party to the lending decision, promotes skill in managing risk, is transparent, minimizes moral hazard, …

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Credit Scoring For Microfinance: Can It Work?, Mark Schreiner Sep 2000

Credit Scoring For Microfinance: Can It Work?, Mark Schreiner

Journal of Microfinance / ESR Review

In rich countries, lenders often rely on credit scoring--formulae to predict risk based on the performance of past loans with characteristics similar to current loans--to inform decisions. Can credit scoring do the same for microfinance lenders in poor countries? This paper argues that scoring does have a place in microfinance. Although scoring is less powerful in poor countries than in rich countries, and although scoring will not replace the personal knowledge of character of loan officers or of loan groups, scoring can improve estimates of risk. Thus, scoring complements--but does not replace--current microfinance technologies. Furthermore, the derivation of the scoring …

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In Search Of "Sound Practices" For Microfinance, Christopher Dunford Apr 2000

In Search Of "Sound Practices" For Microfinance, Christopher Dunford

Journal of Microfinance / ESR Review

The notion of "best practices" for all microfinance is challenged in favor of "sound practices" that are appropriate for particular organizational strategies and situations. A simple conceptual framework is offered to facilitate understanding of the current diversity of experiments with product-market pairs (e.g., group-based lending to poor women struggling to earn enough for family survival). Since the microfinance movement is still in a mode of intensive learning, we should not presume too soon what will be "best" for all product-market pairs. We can expect to discover a somewhat different set of sound practices for each distinct product-market pair.

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A Marketing Research Study For Snowbird / Prepared By Wasatch Marketing Research, Robert Dean, Chelsea Green, Todd Hillstead, Sharah Smith Jan 2000

A Marketing Research Study For Snowbird / Prepared By Wasatch Marketing Research, Robert Dean, Chelsea Green, Todd Hillstead, Sharah Smith

Student Works

Snowbird resort offers year-round activities catering to the winter and summer recreationalists. As part of its service, Snowbird has 12 restaurants that provide a variety of food and atmospheres that resort patrons can choose from. Snowbird seeks to increase its revenues by finding ways to attract more guests to any of its 12 restaurants. Snowbird and WMR identified three target groups from which data could be collected. These three groups were the following: condominium owners/timeshare guests, rental guests, and skier/rider. Both parties set research objectives and then questionnaires were created to obtain the desired data from the three target groups. …

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A Marketing Research Study For Wilson Diamonds, Robin Day, Kristen Jones, Xiaoyu Liu, Brandon Smith Jan 2000

A Marketing Research Study For Wilson Diamonds, Robin Day, Kristen Jones, Xiaoyu Liu, Brandon Smith

Student Works

Utah Valley has a very high concentration of university students. University students in Utah Valley also have the reputation of getting married quickly after starting their university careers. Because of the high number of engagements that take place in Utah Valley there are a large number of jewelry stores located around the valley trying to serve university student preferences and needs. This study will allow Wilson Diamonds to better understand student needs and implement solutions to better serve university students. The Tabor Group comprised of Robin Day, Kristen Jones, Xiaoyu Liu, Brandon Smith, Jeniffer Tabor.

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Office Rent Determinants During Market Decline And Recovery, Barrett A. Slade Jan 2000

Office Rent Determinants During Market Decline And Recovery, Barrett A. Slade

Faculty Publications

This article empirically examines office rent determinants in distinct periods of a market cycle. The study uses a dataset of office properties located in a large metropolitan area and spanning a six-year period. During this period, office rents experienced a significant decline and recovery. A time-varying parameter rent index identifies three distinct periods of the cycle: decline, trough and recovery. Tests of structural change conclude that market participants value the determinants of office rents differently during the periods. A microexamination of each rent determinant over the periods of the market cycle provides a greater understanding of how rents vary over …

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An Empirical Study Of Sample-Selection Bias In Indices Of Commercial Real Estate, Henry J. Munneke, Barrett A. Slade Jan 2000

An Empirical Study Of Sample-Selection Bias In Indices Of Commercial Real Estate, Henry J. Munneke, Barrett A. Slade

Faculty Publications

Real estate price indices based solely on samples of sold properties may not accurately represent the population of properties due to potential sample-selection bias. This study addresses this potential for sample-selection bias in the construction of commercial price indices within the context of the Phoenix area of®ce market. The empirical analysis con®rms the presence of sample-selection bias in the estimation of the total price equation. However, within this sample, the price indices generated after correcting for sample-selection bias do not appear signi®cantly different from those that do not consider selectivity bias.

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Expected Option Returns, Joshua D. Coval, Tyler Shumway Jan 2000

Expected Option Returns, Joshua D. Coval, Tyler Shumway

Faculty Publications

This paper examines expected option returns in the context of mainstream asset pricing theory. Under mild assumptions, expected call returns exceed those of the underlying security and increase with the strike price. Likewise, expected put returns are below the risk-free rate and increase with the strike price. S&P index option returns consistently exhibit these characteristics. Under stronger assumptions, expected option returns vary linearly with option betas. However, zero-beta, at-the-money straddle positions produce average losses of approximately three percent per week. This suggests that some additional factor, such as systematic stochastic volatility, is priced in option returns.

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Accreditation And Academic Quality: A Comparison With Healthcare Accreditation, Ramon B. Zabriskie, Bryan P. Mccormick Jan 2000

Accreditation And Academic Quality: A Comparison With Healthcare Accreditation, Ramon B. Zabriskie, Bryan P. Mccormick

Faculty Publications

The origins of accreditation in higher education began at the turn of this century, resulting from the rapid growth in number and variety of educational institutions. One of the key concerns of accreditation has been to address quality in educational experiences. Specialized accreditation of higher education programs in recreation, park resources, and leisure services has evolved over the past 20 years; however; concerns can be raised regarding the ability of the current process to adequately measure quality. Comparisons are made with trends identified in the evolution of accreditation in healthcare and their implication to the future of accreditation. Recommendations are …

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Front Matter, Journal Of Microfinance Sep 1999

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Vol. 01 No. 1 Journal Of Microfinance, Journal Of Microfinance Sep 1999

Vol. 01 No. 1 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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