Business Commons^™

The Quality Of Corporate Governance And The Length It Takes To Remove Apoor Performing Ceo. Does Performance Of The Former Firm Affect A Ceo's Ability To Find An Identical With A Subsequent Firm?, Huong Nguyen

University of New Orleans Theses and Dissertations

Abstract 1:

In this paper, we investigate the effects of internal corporate governance on the length it takes to remove a CEO after the initial sign of poor firm performance. We find that firms that have a better quality of internal corporate governance are quicker to remove poor-performing CEOs. This result persists after controlling for other factors that might influence the CEO removal decision.

Abstract 2:

Employing a sample of voluntary CEO turnovers selected from S&P 500 firms over the period 2004-2009, I investigate the impact prior firm performance on a CEO’s potential of being hired on an equivalent job …

Two Essays On Investment, Yao Zheng

University of New Orleans Theses and Dissertations

This dissertation consists of two essays: one looks at the time-varying relationship between earnings and price momentum, and the other looks at how liquidity and transparency affect the pricing differential between Chinese A-and Hong Kong H-share.

The first essay presented in Chapter I investigates the time varying relationship between earnings momentum and price momentum. Using a Markov-switching framework, allowing for variation between high volatility and low volatility states, I find that price momentum is significantly more influenced by earnings momentum in the high volatility state. Further for price momentum I find that loser firms display a higher degree of differential …

Corporate Governance, Performance And Risk-Taking In The U.S. Banking Industry, Jennifer Osullivan

University of New Orleans Theses and Dissertations

In this dissertation, we first examine the relationship between performance of the bank holding company and several board characteristics. We use five proxies for bank performance including Tobin’s Q, ROA, loan loss reserve ratio, non-performing asset ratio, and net charge-offs ratio. Board characteristic variables we include are board size, proportion of outsiders, CEO power, CEO tenure and board tenure. We find that a large board enhances bank performance, as proxied by Tobin’s Q and loan quality variables. We find no evidence that board structure or CEO power influences firm performance. We see that CEO and board tenure have a positive …

Two Essays In Financial Economics, Jatin Ravikant Malhotra

University of New Orleans Theses and Dissertations

In the first chapter of this dissertation, I examine the relationship between hedging and diversification effects on CEO compensation in the Real Estate Investment Trust (REIT) industry. The REIT industry is suitable for this investigation for various reasons; primarily being that the REIT sample represents a relatively clean sample to study the effects of diversification and hedging on compensations. I find a positive and significant relationship between the interaction variable which reflects the effects of both hedging and diversification and CEO pay-for-performance sensitivity. This is consistent with the notion that managers are in a better position to manage firm risk …

Two Essays In Islamic Finance And Investment, Hesham J. Merdad

University of New Orleans Theses and Dissertations

The main purpose of this dissertation is to lessen the gap in the Islamic finance and investment literature by providing new answers to the most vital question raised in that literature: Is the adherence to the Shariah law associated with at any cost?

The first chapter provides a primer on Islamic finance. It discusses several restrictions and necessary adaptations that must be made to have a Shariah-compliant product. The takeaway is that Shariah law mandates is related to fundamentals and, thus has a direct effect on the risk-return profile of all sorts of different products. This is referred to as …

A Comparison Of Profiles And Expenditures Between Volunteer And Leisure Tourists For The New Orleans Metropolitan Statistical Area, Ksenia Kirillova

University of New Orleans Theses and Dissertations

This research compared the expenditure patterns, profiles, and trip characteristics of volunteer and leisure tourists in New Orleans. Survey research methods were used to obtain a sample of voluntourists that was compared to a leisure tourist sample obtained from secondary data. Visitors’ expenditures across six types of spending, demographics, and travel information were collected. Data analysis included eight t-tests that revealed that voluntourists’ spending was lower in five out of six categories, total daily expenditures, and total trip spending. Voluntourists spent more on local transportation but preferred cheaper accommodations and dining, seldom gambled, shopped little at the destination, and rarely …

Two Essays: “Does Corporate Governance Affect The Adjustment Speed Towards Target Capital Structure?” And “Do Option Traders On Reits And Non-Reits React Differently To New Information?”, Li-Kai Liao

University of New Orleans Theses and Dissertations

The first chapter investigates how corporate governance influences firms’ capital structure behavior. Based on the premise that costs associated with deviations from the target capital structure are positively correlated to the extent of deviation, we hypothesize that the initial deviation from the target will be shorter for a firm with good corporate governance than for a firm with poor corporate governance. We also hypothesize that the former group will employ a higher speed of adjustment towards target than the latter group due primarily to the following reasons. First, a firm with well-placed governance system will adjust at a faster rate …

Momentum, Nonlinear Price Discovery And Asymmetric Spillover: Sovereign Credit Risk And Equity Markets Of Emerging Countries And, Geoffrey M. Ngene

University of New Orleans Theses and Dissertations

In Chapter 1, I hypothesize that there is a differential response by agents to changes in sovereign credit or default risk in both quiet (low default risk) and turbulent markets (high default risk). These market conditions create two different states of the market (world) or regimes. Investors and policy makers respond differently in the two regimes but the response in the turbulent market condition is amplified as policy makers attempt to smoothen the fluctuations and uncertainty while investors rebalance their portfolios in an attempt to hedge against downside risk of wealth loss. In the two regimes, the short run and …