Business Commons^™

Thinking Finance - The Comic Book, Dimitrios V. Siskos

Dimitrios V. Siskos

Thinking financially results in the best possible outcome and establishes a secure foundation for the future as an independent man. In contrast, thinking emotionally leads to short-sighted financial decisions and usually, deep regrets. However, thinking financially is not pleasant for the people around us. This comic book presents a guy, whose dream is to become an accountant. When he finally succeeds in this, he realizes that thinking financially may be effective for his boss but it is irritating for everyone else, even for his family.

Tax Abatement Disclosures: An Exploratory Study Of Professional's Perceptions And Early Disclosures Of Gasb Statement No. 77, M. Fischer, Amy Foshee Holmes

Amy Holmes

The Governmental Accounting Standards Board (GASB) adopted Statement No. 77 requiring government disclosure of tax abatements in audited financial reports for years beginning after December 15, 2015. This paper reports survey findings provided by accounting and finance professionals (practitioners) regarding their tax abatement reporting perceptions. We then review early implementation of the abatement disclosure and find the disclosed information does not meet the practitioner’s expectations. Our findings fill a gap in state and local financial reports as it appears the new disclosure requirement does not fulfill the Board’s reporting transparency expectation goals.

Financial Institutions And The Taxi-Cab Industry: An Exploratory Study In Canada, John D. Obradovich, Amarjit Gill, Nahum Biger, Leo-Paul Dana, Ansari Mohamed

John Obradovich

A current challenge taxicab owner/operators face in Canada is the lack of financing for taxicabs. This article examines business opportunities and lending risk; it also provides risk management strategies for financial institutions to manage the risk of lending to the taxi-cab industry. Members of the boards of directors and shareholders from the Canadian taxicab industry, and lenders from financial institutions that do not provide financing to taxicab owner/operators, were interviewed. Board members and shareholders were asked about their perceptions regarding business opportunity, risk, and their willingness to provide collateral for taxicab loans. Lenders of financial institutions were asked about their …

Applying The Concept Of Alignment In A Finance Class., Martina K. Schmidt

Martina K. Schmidt

The assessment of learning goals and objectives in business courses is important for business schools. However, not all business educators are necessarily knowledgeable and trained in designing appropriate learning objectives and matching all aspects of a course around these learning objectives. This paper helps to fill this gap of knowledge by describing the concept of alignment or how to design appropriate learning objectives and matching course materials and student engagement as well as assessment methods and the course technology to these objectives. This paper also applies the concept of alignment to the specific learning module of capital budgeting analysis in …

Lessons From Teaching Undergraduate Finance Online., Martina K. Schmidt

Martina K. Schmidt

With the continuing growth of student enrollment in online courses, teaching classes in an online format is becoming part of life for many educators. Teaching courses online is a challenging task and educators can benefit from the experiences of other educators when preparing for this challenge. The purpose of this paper is twofold: first, it lists some important observations that can help an educator create effective online courses. Second, it describes some insights from teaching online finance courses, specifically. As most academic leaders feel that student learning in online classes is inferior to face-to-face classes, the author also investigates the …

Changing Paradigm In Accounting And Finance, Shyam Sunder

Shyam Sunder

No abstract provided.

Amp Bridging Finance And Behavioral Scholarship On Agent Risk Sharing And Risk Taking, Geoffrey P. Martin, Luis R. Gomez-Mejia Prof, Robert M. Wiseman

Geoffrey P Martin

Rethinking Financial Reporting: Standards, Norms And Institutions, Shyam Sunder

Shyam Sunder

No abstract provided.

Can Cognitive Error Explain The Ipo Partial Adjustment Phenomenon?, Steven D. Dolvin

Steven D. Dolvin

Chapter 5 of: Klein, E. (2005). Stock exchanges, IPO's and mutual funds. New York: Nova Science Publishers.

The Ghana National Economic Forum In May 2014, Another Implementation Curse?, George E. Ekeha

George E Ekeha

More than one year after the above consensus was developed and read to the whole world, which was subsequently followed by the full report, many are of the view that little efforts have been done to implement the consensus. In this article, I decided to choose just about five of the Senchi Consensus that in my opinion can change the country very much and place her on the international radar for reckoning when implemented with the seriousness that they deserve. It is my strongest belief that many Ghanaians and other development partners are aware of many issues raised in this …

Financing Asean Connectivity, Fauziah Zen, Michael Regan

Michael Regan

In line with the globalisation trend, it becomes inevitable for the South East Asian economies to prepare themselves to move towards the path of a more border-less and well-connected world. Evidence has shown that countries can gain a lot from internationalisation, especially from trade, knowledge and information exchanges, and flows of people and goods. One of the key targets of ASEAN in achieving a dynamic, vibrant, globally connected and strong region is to fully realise ASEAN Connectivity which consists of three pillars, namely, physical connectivity, people-to-people connectivity, and institutional connectivity. Physical connectivity is especially important because it is not only …

Fundamentals Of Investments, 7th Ed., Steven Dolvin, Thomas Miller

Steven D. Dolvin

Fundamentals of Investment, Valuation and Management Canadian Edition was written to: 1. Focus on students as investment managers, giving them information they can act on instead of concentrating on theories and research without the proper context. 2. Offer strong, consistent pedagogy, including a balanced, unified treatment of the main types of financial investments as mirrored in the investment world. 3. Organize topics in a way that makes them easy to apply--whether to a portfolio simulation or to real life--and support these topics with hands-on activities. The approach of this text reflects two central ideas. First, there is a consistent focus …

Crm In Russia And U.S. -- Case Study From American Financial Service Industry, Tamilla Curtis, Tom Griffin, Donald Barrere

Dr. Tamilla Curtis

This paper discusses Customer Relationship Management in two sharply contrasting business cultures: the United States and Russia. Included in the present work is a case study of a midsized American financial services firm that illustrates a common path to the decision to have a CRM system: the planning, selection, and the implementation of the CRM program, including a discussion of the likelihood of success. The clients in this case are Financial Advisors, who in turn sell the investment products to the end user individual investors. CRM in Russia is yet in its infancy as the economy emerges from 200 years …

Credit Rationing In The U.S. Mortgage Market: Evidence From Variation In Fha Market Shares, Brent W. Ambrose, Anthony Pennington-Cross, Anthony M. Yezer

Anthony Pennington-Cross

This paper examines the nature of mortgage credit rationing across geographic markets and time. Particular attention is paid to the response of conventional mortgage supply to higher risk conditions associated with regional recessions. We develop a series of four indirect tests based on the spatial variation of the FHA share of mortgages, both endorsements and applications, as well as FHA and conventional rejection rates. Results of these four tests indicate that conventional mortgage underwriting criteria do not become more flexible and may even become more demanding when local economic conditions deteriorate. This result indicates the use of non-price credit rationing …

Do Investors Herd Intraday In Australian Equities?, Julia Henker, Thomas Henker, Anna Mitsios

Thomas Henker

Purpose – The purpose of this research is to consider whether market wide herding occurs intraday.

Design/methodology/approach – Using the 1995 Christie and Huang and the 2000 Chang et al. models, the paper tests whether market wide and industry sector herding occurs intraday in the Australian equities market.

Findings – Neither market wide nor industry sector herding occurs intraday.

Research limitations/implications – Both herding measures focus on one specific type of herding, herding evidenced by changes in the cross-sectional return distribution. Therefore the herding measures are ill suited to capture the effects of period specific abnormally high or low market …

Finance, Fear, And Family: Issues Of Trust And The Common Ground With Terrorist Funding, David M. Cook, Timothy Smith

Dr. David M Cook

In the immediate aftermath of al-Qaeda’s September 11 attacks on the United States of America, examinations of terrorist funding focused on the Middle Eastern and South Asian use of Hawala and non-traceable financial transactions. However, whilst the cloaking of identity is certainly a part of criminal activity for funds transfer, there are other factors. South Asia’s community banking norms align far more closely with informal systems that follow centuries-old customs of familial trust rather than reportable record keeping. Tightened restrictions on money movement in the form of identity checks and statements of purpose have coerced more than two hundred million …

Names, Trains, And Corporate Deals: Why Public Transit Shouldn't Sell Naming Rights, Frank Pasquale

Frank A. Pasquale

No abstract provided.

Building Research Culture, Shyam Sunder

Shyam Sunder

No abstract provided.

Building Research Culture, Shyam Sunder

Shyam Sunder

No abstract provided.

Remic Tax Enforecement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss

Bradley T. Borden

Lawmakers, prosecutors, homeowners, policymakers, investors, news media, scholars and other commentators have examined, litigated, and reported on numerous aspects of the 2008 Financial Crisis and the role that residential mortgage-backed securities (RMBS) played in that crisis. Big banks create RMBS by pooling mortgage notes into trusts and selling interests in those trusts as RMBS. Absent from prior work related to RMBS securitization is the tax treatment of RMBS mortgage-note pools and the critical role tax enforcement should play in ensuring the integrity of mortgage-note securitization.

This Article is the first to examine federal tax aspects of RMBS mortgage-note pools formed …

Financial Reporting And Regulation In A World Of Financial Engineering: Accounting And The Global Financial Crisis., Shyam Sunder

Shyam Sunder

No abstract provided.

Assessing Risk, Liability And Asset Management Investments Among U.S. And Foreign Banks: Bank Of America, Wells Fargo, And Wachovia, Valencia Tamir Johnson Dr.

Valencia T Johnson

In recent years, banks have had a positive and negative impact on assessing risk, liability and asset management from other competitors such as Bank of America, Wells Fargo and Wachovia. There have been many recent discussions about the U.S. and International banking management and investments. The Federal Reserve and the U.S. Exchange Commission are finding ways to evaluate the negative and positive behaviors exhibited by other financial institutions, which has an impact on the global economy, and in regards to financial management and investments. This article explains the important of assessing the risk and compliance management in financial banking and …

Restoring Transparency To Automated Authority, Frank Pasquale

Frank A. Pasquale

Leading finance, health care, and internet firms shroud key operations in secrecy. Our markets, research, and life online are increasingly mediated by institutions that suffer serious transparency deficits. When a private entity grows important enough, it should be subject to transparency requirements that reflect its centrality. The increasing intertwining of governmental, business, and academic entities should provide some leverage for public-spirited appropriators and policymakers to insist on more general openness. However well an "invisible hand" coordinates economic activity generally, markets depend on reliable information about the practices of core firms that finance, rank, and rate entities in the rest of …

Assessing The Financial Failure Using Z-Score And Current Ratio: A Case Of Sugar Sector Listed Companies Of Kse, Muhammad Shahzad Ijaz, Ahmed Imran Hunjra, Rauf I. Azam

Ahmed Imran Hunjra (PhD)

Since 1968, after the development of multivariate model, financial health of the corporate sector to predict their financial failure is heavily studied. Altman Z-Score is the most efficient model to judge the financial failure of the companies. This study uses Altman’s Z-Score and current ratio to assess the financial status of sugar sector companies listed at Karachi stock exchange. Sugar sector is the second largest slice among all sectors listed at Karachi stock exchange. Total population sampling technique was used in this study and all thirty five sugar sector listed companies at KSE were included in this study to get …

A Comparison Of Curriculum In Banking And Finance Departments, Hasmet Sarigul

Hasmet Sarigul

This descriptive study was conducted to assess banking and finance education curriculum by identifying and comparing the bachelors degree courses being taught at the banking and finance schools. We used a quantitative approach to content analysis. The data of the study have been gathered from the web pages, handbooks and the catalogs of the schools. The study contains all of the bachelors degree banking and finance departments of the universities in Turkey. In the first survey, we identified seven core competency areas for the courses in these schools. In the second survey, six more categories were identified accompanying the competency …

Impact Of Affect Heuristic, Fear And Anger On Decision Making Of Individual Investor: A Conceptual Study, Ehsan Ul Hassan, Fahad Shahzeb, Maryum Shaheen, Qamar Abbas, Zahid Hameed, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Financial theories support the efficient market hypothesis, which assumes that prices are fair in the market and investors behave rationally while taking any investment decision. Individual Investors of the stock market are therefore thought to take rational decisions while making judgments and investment decisions. However, a lot of studies on behavioral finance have criticized the phenomenon of market efficiency and investor’s rationality. The empirical evidences of these studies conclude the involvement of behavioral biases and psychological impacts on investor’s judgments and decision making. Keeping this in mind the present study has focused on studying the impact of affect heuristic, fear …

An Examination Of The Financial Challenges Of Entrepreneurship Centers Throughout The World, Todd A. Finkle, Teresa Menzies, Donald F. Kuratko, Michael G. Goldsby

Todd A Finkle

Impact Of Psychological Factors On Investment Decision Making Mediating By Risk Perception: A Conceptual Study, Lubna Riaz, Ahmed Imran Hunjra, Rauf I. Azam

Ahmed Imran Hunjra (PhD)

Every individual is different from others due to various factors which include demographic factors, age, race and sex, education level, social and economic background; same is the situation with the investors. The most critical challenge faced by them is the investment decision; they act in a rational manner and usually follow their instincts and emotional biases while making investment decisions. The investigation of previous studies reveals the importance of various psychological factors which affect their investment decision. Keeping this in view, a study model has been developed to describe the impact of risk propensity, asymmetric information and problem framing on …

Factors Affecting Investment Decision Making Of Equity Fund Managers, Salman Ali Qureshi, Kashif Ur Rehman, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Traditional theories of finance assume that investors use all available information and make rational investment decision but in reality the scenario is different. Based upon the growing importance of behavioral finance the present study is an attempt to investigate the effect of behavioral factors such as heuristics, risk aversion, use of financial tools and firm level corporate governance on the decision making of equity fund managers of Pakistan. The study collected response from 327 equity fund managers of insurance companies, commercial banks, and equity investment companies applying stratified random sampling technique. The results of the study demonstrate that a positive …

Factoring As A Financing Option In Turkey : A Comparative Study, Hasmet Sarigul

Hasmet Sarigul

Factoring is a form of short-term commercial finance based on the selling of trade debts at a discount from one party to another. Factoring is one of the oldest methods of business financing in developed countries. The Factoring operations in Turkey began in late 1980s as a product of commercial banks and started to become the activity of separately established factoring companies in the early 1990s. The basic frame of this study constitutes an empirical comparison of factoring companies in Turkey as bank subsidiaries and independent factoring companies in terms of some selected financial ratios in 2009 and 2010 years. …