Business Commons^™

Essays On Time-Varying Risk And Investor Sentiment: Evidence From The U.S. And G-7 Countries Using Multivariate Garch Modeling, David William Johnk

Theses and Dissertations - UTB/UTPA

This dissertation investigates the effects of investor sentiment on asset prices in both the U.S. equity market (chapter III) and international market (chapter IV). It employs a conditional version of the CAPM using a parsimonious generalized autoregressive conditional heteroskedasticity (GARCH) model in which the risk premia, betas, and correlations are time-varying. Investor sentiment is presented from two direct measures (surveys) and one indirect measure as conditional information variables; whereas, previous studies used macroeconomic fundamentals. Furthermore, investor sentiment is not assumed to be fully irrational. It is decomposed into its rational and irrational components. Both rational and irrational components are tested …

Do U.S. Firms Fly Higher When Bypassing The U.S. Capital Markets? An Investigation Of The Short- And Long-Run Performance Of Foreign Ipos?, Robert N. Killins

Theses and Dissertations - UTB/UTPA

This dissertation studies the performance of U.S. firms that partake in a foreign IPO – bypassing their domestic exchanges and raising their equity in a foreign market. Chapter one provides an introduction and brief review of the main research questions and results. Chapter 2 provides a detailed literature review on initial public offerings-IPOs. This includes relevant studies on the long- and short-run performance of IPOs, theories for IPO underpricing and an international component of the IPO literature. Additional cross-listing literature is also reviewed to provide a more complete and balanced understanding of the international market for equity. Chapter 3 develops …

The Influence Of Venture Creation Stage On The Relationship Between Environmental Context And Social Network Orientation Among U.S. Minority Groups, Tammi C. Redd

Theses and Dissertations - UTB/UTPA

The percentage of minorities who have owned successful small businesses in the U.S. has been astonishingly lower than that of Mainstreams. An important underlying challenge for minority entrepreneurs is the ability to development and maintain social network connections. This research investigates the role urban and rural environments play in the new venture creation process among U.S. minority groups. Specifically, this dissertation will focus on issues relating to network scope, networking ability and strength and network relationships at different stages of the venture creation process. The environmental contexts of both the urban entrepreneur and that of the rural American entrepreneur will …

Two Essays On The Impact Of Rational And Irrational Investor Sentiments On Equity Market Return And Volatility: Evidence From The U.S. And Brazil, Pablo Javier Calafiore

Theses and Dissertations - UTB/UTPA

This dissertation consists of two essays on how investor sentiments affect the returns and volatility of the Brazilian stock market. Both essays share a similar methodological approach. The first one analyzes the effect of investor sentiments on the returns and volatility of the Brazilian stock market using a model that accounts for fundamentals (rational) and noise components (irrational) of investor sentiments on the Sao Paulo leading index Bovespa. This research finds a statistically significant positive (negative) impact of rational (irrational) sentiments on market returns. Moreover, there are statistically significant impacts of irrational components of the sentiment indexes on Bovespa volatility …

The Impact Of Cultural And Religious Values On Television And Newspaper Advertising Content And Appeal: A Cross-Cultural Study Of The United States And The Arab World, Morris A. Kalliny

Theses and Dissertations - UTB/UTPA

Standardization versus adaptation of advertising has been a subject of great controversy that has been debated for more than 50 years. Scholars have pointed out the increasing demand for more cross-cultural research on advertising content that can contribute to the standardization versus adaptation debate. Scholars have also pointed out that although the Arab world offers great opportunities for multinational corporations, the Arab world has been severely neglected in academic research. To comply with this demand, this study investigates the similarities and differences of the manifestation of cultural and religious values in the U.S. and the Arab world (Egypt, Lebanon, Kuwait, …

Corporate Diversification And The Effects Of Firm Characteristics On Diversification Modes: United States, European And Japanese Firm Behavior, Somkiat Mansumitrchai

Theses and Dissertations - UTB/UTPA

Many studies have examined corporate diversification (Porter, 1987; Ramanujam and Varadarajan, 1989; Markides and Williamson, 1994; Markides, 1995). A classical study of diversification transactions of 33 U.S. industrial firms during 1950–1986 by Porter (1987) provided historical background on U.S. leading firms during four decades. Porter (1987) found that U.S. large industrial firms were more active in acquisitions than other diversification modes such as joint ventures and startups. His study also shows that U.S. industrial firms divested many business units they had acquired, indicating unsuccessful diversification strategy.

I extended Porter's (1987) study to investigate the diversification behavior of the same U.S. …