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Full-Text Articles in Business

Sakura Hanami: Celebrating The Japanese Cherry Blossom, Exhibit Brochure, Gina Rippens Feb 2024

Sakura Hanami: Celebrating The Japanese Cherry Blossom, Exhibit Brochure, Gina Rippens

Rosen Library Exhibits

On display: February-May 2024
Featured items: Books from the Rosen Library Collection. Handmade Japanese doll. Cherry Blossom Bloom Map. 2024 Bloom Forecast.
Primary Curator: Gina Rippens

See more items from this exhibit


Do Female Ceos Promote Behavioral Consistency In Firm’S Nonmarket Strategy: The Moderating Effect Of Board Gender Diversity, Marwan A. Al-Shammari, Hazel Dadanlar, Soumendra Nath Banerjee, Harold Doty Feb 2024

Do Female Ceos Promote Behavioral Consistency In Firm’S Nonmarket Strategy: The Moderating Effect Of Board Gender Diversity, Marwan A. Al-Shammari, Hazel Dadanlar, Soumendra Nath Banerjee, Harold Doty

Management Faculty Publications and Presentations

This study explores whether and under what conditions women CEOs engage in behavioral consistency when promoting CSR practices. Specifically, drawing from the social role and behavioral consistency theories, we argue that women’s CEO presence will positively affect CSR consistency. We use two categories to capture the firm’s consistency in CSR practices: inter-domain and temporal consistency. Inter-domain consistency indicates reliability in a firm’s conduct across its various stakeholder groups. Temporal consistency refers to the consistency of a firm’s behavior toward its stakeholders over time. Using 167 unique S&P 500 firms over the 2005-2013 sample period, we found that women CEOs maintain …


Using The Federal Reserve’S Balance Sheet To Predict Macroeconomic Outcomes, Michael J. Crawley Feb 2024

Using The Federal Reserve’S Balance Sheet To Predict Macroeconomic Outcomes, Michael J. Crawley

Accounting Faculty Publications and Presentations

This study investigates whether the U.S. Federal Reserve’s balance sheet can be used to predict macroeconomic outcomes. The Federal Reserve writes its own accounting standards, and I recast portions of the Federal Reserve’s weekly balance sheet as if it more closely followed Generally Accepted Accounting Principles. Specifically, I estimate the fair value of the Federal Reserve’s U.S. Treasury notes and bonds and calculate the associated unrealized gains and losses. I demonstrate that unrealized gains (losses) on the Federal Reserve’s U.S. Treasury notes and bonds are associated with lower (higher) one-quarter ahead inflation and real gross domestic product growth. Additionally, I …


Audit Evidence, Technology, And Judgement: A Review Of The Literature In Response To Ed‐500, Dereck Barr‐Pulliam, Christopher G. Calvin, Marc Eulerich, Arpine Maghakyan Feb 2024

Audit Evidence, Technology, And Judgement: A Review Of The Literature In Response To Ed‐500, Dereck Barr‐Pulliam, Christopher G. Calvin, Marc Eulerich, Arpine Maghakyan

Accounting Faculty Publications

In October 2022, the International Auditing and Assurance Standards Board (IAASB) issued Exposure Draft 500 (ED-500). This is focused on revising and integrating the standard auditors use when evaluating audit evidence during an external audit. This study contributes to the ongoing discourse as the IAASB evaluates feedback to ED-500 and executes its standard-setting agenda. We review academic literature published in the past 10 years to synthesize extant knowledge specifically on the use of technology and the application of professional skepticism during audit evidence evaluation. Our review offers factors the IAASB should consider when seeking to modernize and future-proof its standards, …


Issue 5, Fall 2024, Janell Gamboa Feb 2024

Issue 5, Fall 2024, Janell Gamboa

Thrive

No abstract provided.


Hitting The ‘Reset Button’: The Role Of Digital Reorientation In Successful Turnarounds, Michael A. Abebe, Chanchai Tangpong, Hermann Ndofor Feb 2024

Hitting The ‘Reset Button’: The Role Of Digital Reorientation In Successful Turnarounds, Michael A. Abebe, Chanchai Tangpong, Hermann Ndofor

Management Faculty Publications

Seismic shifts in industries brought about by radical technological innovations usually lead to a misalignment between the capabilities of many incumbent firms and the requisites of their new environment, and eventually, organizational decline. The current turnaround literature, while emphasizing operating and strategic responses to organizational decline that focus on efficiency and fine tuning product/market strategy respectively, ignores such organizational decline that requires fundamental reengineering of the whole firm and its value chain. This paper introduces the concept of digital reorientation as a long term turnaround strategy to respond to situations in which a firm’s environment has been fundamentally restructured. Digital …


The Impact Of Board Reforms On Audit Fees: International Evidence, Incheol Kim, Joon Ho Kong, Rong Yang Feb 2024

The Impact Of Board Reforms On Audit Fees: International Evidence, Incheol Kim, Joon Ho Kong, Rong Yang

Finance Faculty Publications

In this study, we investigate whether and to what extent country-level board reforms affect audit pricing decisions. We find audit fees are positively associated with board reforms. An increase in audit fees is more pronounced for firms that switched up to Big N auditors following board reforms. After board reforms, firms are less likely to issue restatements, and both analyst forecast accuracy and management forecast frequency increase, indicating improved audit quality and information transparency in the postreform period. Moreover, the positive relation between board reforms and audit fees is more evident for firms in countries that lack institutional governance mechanisms, …


The Gig Is Up: Examining Side Gig Income And Allowable Deductions, Bonnie R. Albritton, Renee Foshee, Amy Foshee Holmes, Kimberly J. Webb Feb 2024

The Gig Is Up: Examining Side Gig Income And Allowable Deductions, Bonnie R. Albritton, Renee Foshee, Amy Foshee Holmes, Kimberly J. Webb

School of Business Faculty Research

The expansion of the gig economy has provided opportunities and challenges for tax professionals. In this case study, a rideshare driver receives a Form 1099-K for side gig income and seeks tax advice from a friend, ultimately deciding to consult with a tax professional (the student) for income tax preparation. The friend provides a video that describes misleading information giving the students a chance to consider authoritative sources as they research appropriate reporting on an individual income tax return. The case learning objectives are: (1) distinguish between credible and noncredible sources of information; (2) evaluate expenses and income to determine …


Assessing Energy Mutual Funds: Performance, Risks, And Managerial Skills, Srinvias Nippani, Davinder Malhotra Feb 2024

Assessing Energy Mutual Funds: Performance, Risks, And Managerial Skills, Srinvias Nippani, Davinder Malhotra

Faculty Publications

This study investigates the risk-adjusted performance of energy equity mutual funds across a 23-year period, employing the Cumulative Wealth Index (CWI) to gauge their long-term performance relative to benchmark indices. Despite inherent volatility due to the energy sector’s cyclical nature, these funds consistently outperformed benchmarks based on monthly returns, showcasing resilience amid market fluctuations. However, challenges emerged during the COVID-19 pandemic, with notable improvements post-vaccination. Utilizing a multi-factor model, the research highlights the interconnectivity of energy equity mutual funds with broader market movements and systemic factors. Despite their primary focus on the energy sector, these funds exhibit sensitivity to larger …


Retail Investors And Corporate Governance: Evidence From Zero-Commission Trading, Dhruv Aggarwal, Albert H. Choi, Yoon-Ho Alex Lee Feb 2024

Retail Investors And Corporate Governance: Evidence From Zero-Commission Trading, Dhruv Aggarwal, Albert H. Choi, Yoon-Ho Alex Lee

Law & Economics Working Papers

We examine the effects of the sudden abolition of trading commissions by major online brokerages in 2019, which lowered stock market entry costs for retail investors, on corporate governance. Firms already popular with retail investors experienced positive abnormal returns around the abolition of commissions. Firms with positive abnormal returns in response to commission-free trading subsequently saw a decrease in institutional ownership, a decrease in shareholder voting, and a deterioration in environmental, social, and corporate governance (ESG) metrics. Finally, these firms were more likely to adopt bylaw amendments to reduce the percentage of shares needed for a quorum at shareholder meetings. …


Japan Cherry Blossom Map, Gina Rippens Feb 2024

Japan Cherry Blossom Map, Gina Rippens

Rosen Library Exhibits

On display: February-May 2024
Featured items: Books from the Rosen Library Collection. Handmade Japanese doll. Cherry Blossom Bloom Map. 2024 Bloom Forecast.
Primary Curator: Gina Rippens

See more items from this exhibit


Sakura Hanami: Celebrating The Japanese Cherry Blossom, Exhibit Sign, Gina Rippens Feb 2024

Sakura Hanami: Celebrating The Japanese Cherry Blossom, Exhibit Sign, Gina Rippens

Rosen Library Exhibits

On display: February-May 2024
Featured items: Books from the Rosen Library Collection. Handmade Japanese doll. Cherry Blossom Bloom Map. 2024 Bloom Forecast.
Primary Curator: Gina Rippens

See more items from this exhibit


Earnhft: Efficient Hierarchical Reinforcement Learning For High Frequency Trading, Molei Qin, Shuo Sun, Wentao Zhang, Haochong Xia, Xinrun Wang, Bo An Feb 2024

Earnhft: Efficient Hierarchical Reinforcement Learning For High Frequency Trading, Molei Qin, Shuo Sun, Wentao Zhang, Haochong Xia, Xinrun Wang, Bo An

Research Collection School Of Computing and Information Systems

High-frequency trading (HFT) is using computer algorithms to make trading decisions in short time scales (e.g., second-level), which is widely used in the Cryptocurrency (Crypto) market, (e.g., Bitcoin). Reinforcement learning (RL) in financial research has shown stellar performance on many quantitative trading tasks. However, most methods focus on low-frequency trading, e.g., day-level, which cannot be directly applied to HFT because of two challenges. First, RL for HFT involves dealing with extremely long trajectories (e.g., 2.4 million steps per month), which is hard to optimize and evaluate. Second, the dramatic price fluctuations and market trend changes of Crypto make existing algorithms …


Market-Gan: Adding Control To Financial Market Data Generation With Semantic Context, Haochong Xia, Shuo Sun, Xinrun Wang, Bo An Feb 2024

Market-Gan: Adding Control To Financial Market Data Generation With Semantic Context, Haochong Xia, Shuo Sun, Xinrun Wang, Bo An

Research Collection School Of Computing and Information Systems

Financial simulators play an important role in enhancing forecasting accuracy, managing risks, and fostering strategic financial decision-making. Despite the development of financial market simulation methodologies, existing frameworks often struggle with adapting to specialized simulation context. We pinpoint the challenges as i) current financial datasets do not contain context labels; ii) current techniques are not designed to generate financial data with context as control, which demands greater precision compared to other modalities; iii) the inherent difficulties in generating context-aligned, high-fidelity data given the non-stationary, noisy nature of financial data. To address these challenges, our contributions are: i) we proposed the Contextual …


Robust Permissioned Blockchain Consensus For Unstable Communication In Fanet, Zihao Wang, Hang Wang, Zhuowen Li, Xinghua Li, Yinbin Miao, Yanbing Ren, Yunwei Wang, Zhe Ren, Deng, Robert H. Feb 2024

Robust Permissioned Blockchain Consensus For Unstable Communication In Fanet, Zihao Wang, Hang Wang, Zhuowen Li, Xinghua Li, Yinbin Miao, Yanbing Ren, Yunwei Wang, Zhe Ren, Deng, Robert H.

Research Collection School Of Computing and Information Systems

The utilization of blockchain technology as a distributed information sharing system has gained widespread adoption across various domains. However, its application to Flying Ad-Hoc Network (FANET), characterized by severe packet loss, poses significant challenges. The high packet loss rates in FANETs can result in decreased consensus success rates and negatively impact information sharing consistency and efficiency. In this paper, we proposed RoUBC, a novel consensus scheme for Flying Ad-Hoc Networks (FANET), which is based on the Raft protocol and is designed to address the challenges posed by the severe packet loss network in FANET. The proposed scheme consists of two …


Self-Ambivalence: Naming A Contemporary Work–Family Problem That Has No Name, Jenny M. Hoobler, Courtney R. Masterson, Kristie M. Rogers Feb 2024

Self-Ambivalence: Naming A Contemporary Work–Family Problem That Has No Name, Jenny M. Hoobler, Courtney R. Masterson, Kristie M. Rogers

Management Faculty Research and Publications

As workers and family members, individuals ought to celebrate seemingly positive events (e.g., a promotion and the purchase of a home). Yet, the numerous identities that contemporary workers hold increase the likelihood of an event that is pleasant in one domain being problematic in another and more cognitively and affectively complex than anticipated. We theorize that these events are likely to prompt self-evaluations that are positive (“I'm a success!”) and negative (“I'm a failure.”) across one's identity set, with questions such as “Who have I become?” and “Is this who I ought to be?” The result is self-ambivalence, that is, …


2024 February, Morehead State University. Office Of Communications & Marketing. Feb 2024

2024 February, Morehead State University. Office Of Communications & Marketing.

Morehead State Press Release Archive, 1961 to the Present

Press releases for February of 2024.


Enhancing Sell-Type Home Reversion Products For Retirement Financing, Koon Shing Kwong, Jing Rong Goh, Ting Lin Collin Chua Feb 2024

Enhancing Sell-Type Home Reversion Products For Retirement Financing, Koon Shing Kwong, Jing Rong Goh, Ting Lin Collin Chua

Research Collection School Of Economics

Loan-type reverse mortgage plans and sell-type home reversion plans for retirement financing are two well-known equity release plans that entitle homeowners not only to release cash from their properties but also to allow them to age in place. Recently, a new hybrid equity release plan was proposed to incorporate the home reversion plan’s features with an option of staying in the property for a fixed period without being subject to survival. This additional option provides flexibility to homeowners to better meet their retirement financial and personal needs by reducing the financial uncertainty of home reversion products. In this article, we …


Entrepreneurship As Collective Action: The Next Frontier, Cyrine Ben-Hafaïedh, Claire Champenois, Thomas M. Cooney, Leon Schjoedt Feb 2024

Entrepreneurship As Collective Action: The Next Frontier, Cyrine Ben-Hafaïedh, Claire Champenois, Thomas M. Cooney, Leon Schjoedt

International Business and Entrepreneurship Faculty Publications

Analyses of collective action in entrepreneurship are lacking in the extant literature. Despite entrepreneurship research progressively moving away from a focus on the lone heroic entrepreneur, scholars have yet to absorb the full potential of entrepreneurship as collective action. Also missing is a collective stance on key entrepreneurship concepts such as opportunity discovery or construction and entrepreneurial agency. Accordingly, this article reviews and critiques five articles that constitute this Special Issue seeking to establish ‘entrepreneurship as collective action’ as the next frontier of entrepreneurship theory development. The articles in this Special Issue each investigate a specific instance of collective action …


Explaining Financial Inclusion: A Critical Realist Theory On The Role Of Financial Literacy, Bryan Bernabe, Jyro B. Triviño Feb 2024

Explaining Financial Inclusion: A Critical Realist Theory On The Role Of Financial Literacy, Bryan Bernabe, Jyro B. Triviño

Leadership and Strategy Faculty Publications

The impact of financial inclusion on social groups' economic divide is explored in this study, which introduces a critical realist theory underscoring the crucial role of financial literacy elements—behavior, attitude, knowledge, and skills—in promoting financial inclusivity. Initially framing a positivist explanatory theory inspired by Jaccard & Jaccoby's work and existing literature, the study then refines this into a critical realist causal theory using Sayer's established principles. This shift toward a critical realist approach allows for a more comprehensive and sophisticated theoretical evolution. By delving into fundamental causal mechanisms and considering the impact of social structures and context, the critical realist …


Examining Sustainable Overseas Investment Information-Sharing Model For Automobile Enterprises: A Multi-Modal Weight Network Approach, Yuan Cheng, Xiaofang Chen, Changbo Lin, Sheqing Ma, Jie Feng Feb 2024

Examining Sustainable Overseas Investment Information-Sharing Model For Automobile Enterprises: A Multi-Modal Weight Network Approach, Yuan Cheng, Xiaofang Chen, Changbo Lin, Sheqing Ma, Jie Feng

Research Collection School Of Accountancy

In an era of globalization, automotive companies are increasingly looking to make overseas investments to expand their production capacity and explore foreign markets. However, the outcomes of such investments are often influenced by a myriad of factors, including policy changes, social dynamics, and market conditions. To address the need for a comprehensive overseas investment information-sharing model, this research proposes an innovative approach based on a multi-modal weight network. This model aims to provide users with a global perspective on overseas investment opportunities, encompassing policy insights, and market dynamics. It integrates data from various sources, offering multi-dimensional information on investment regions, …


Diverse Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo Feb 2024

Diverse Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

Hedge fund teams with heterogeneous educational backgrounds, academic specializations, work experiences, genders, and races, outperform homogeneous teams after adjusting for risk and fund characteristics. An event study of manager team transitions, instrumental variable regressions, and an analysis of managers who simultaneously operate solo- and team-managed funds address endogeneity concerns. Diverse teams deliver superior returns by arbitraging more stock anomalies, avoiding behavioral biases, and minimizing downside risks. Moreover, diversity allows hedge funds to circumvent capacity constraints and generate persistent performance. Our results suggest that diversity adds value in asset management. Authors have furnished an Internet Appendix, which is available on the …


Attentional Engagement And Strategic Responses To Discontinuous Environmental Change: Evidence From The Us Banking Industry, Daniel Z. Mack, Theresa S. Cho, Andrew C. Yi Feb 2024

Attentional Engagement And Strategic Responses To Discontinuous Environmental Change: Evidence From The Us Banking Industry, Daniel Z. Mack, Theresa S. Cho, Andrew C. Yi

Research Collection Lee Kong Chian School Of Business

While prior research has established a link between the attention an organization allocates to the external environment and its adaptations to environmental change, the nature of the cognitive processes that underlie this link remains underexamined. In this study, we explore how patterns of attentional engagement—that is, the extent to which attention allocation is focused and/or consistent over time—influence the organization’s formulation of strategic responses to discontinuous change. We advance a situated perspective on attentional engagement by suggesting how the type of learning and cognitive processes are situated in different attentional-engagement structures, and can, in turn, lead to heterogeneous strategic responses …


What Difference Do The New Factor Models Make In Portfolio Allocation?, Frank J. Fabozzi, Dashan Huang, Fuwei Jiang, Jiexun Wang Feb 2024

What Difference Do The New Factor Models Make In Portfolio Allocation?, Frank J. Fabozzi, Dashan Huang, Fuwei Jiang, Jiexun Wang

Research Collection Lee Kong Chian School Of Business

This paper compares the Hou-Xue-Zhang four-factor model with the Fama-French five-factor model from an investing perspective both in- and out-of-sample. Without margin requirements and model uncertainty, the Hou-Xue-Zhang model outperforms the Fama-French model. However, the outperformance could become negligible if an investor is subject to margin requirements and model uncertainty. The Hou-Xue-Zhang model shows similar power as the Fama-French model in describing the covariance matrix of asset returns. Overall, the two models do not make a difference for investing in a realistic setting.


2024-02-00 Newsletter, Morehead State University. Staff Congress. Feb 2024

2024-02-00 Newsletter, Morehead State University. Staff Congress.

Staff Congress Records

Staff Congress newsletter from February of 2024.


2024-02-01 Faculty Senate Newsletter, Morehead State University. Faculty Senate. Feb 2024

2024-02-01 Faculty Senate Newsletter, Morehead State University. Faculty Senate.

Faculty Senate Records

Faculty Senate newsletter from February 1, 2024.


2024-02-01 Faculty Senate Meeting Minutes, Morehead State University. Faculty Senate. Feb 2024

2024-02-01 Faculty Senate Meeting Minutes, Morehead State University. Faculty Senate.

Faculty Senate Records

Faculty Senate meeting minutes from February 1, 2024.


2024-02-01 Amendments Document To Employee Benefits Committee Comments Document, Morehead State University. Faculty Senate. Feb 2024

2024-02-01 Amendments Document To Employee Benefits Committee Comments Document, Morehead State University. Faculty Senate.

Faculty Senate Records

Amendments document to the Employee Benefits Committee comments document, submitted to the Faculty Senate on February 1, 2024.


2024-02-01 Employee Benefits Committee Revisal Draft, Morehead State University. Faculty Senate. Feb 2024

2024-02-01 Employee Benefits Committee Revisal Draft, Morehead State University. Faculty Senate.

Faculty Senate Records

Revisal draft to the Employee Benefits Committee charter submitted to the Faculty Senate on February 1, 2024.


2024-02-01 Comments Document To Employee Benefits Committee Draft, Morehead State University. Faculty Senate. Feb 2024

2024-02-01 Comments Document To Employee Benefits Committee Draft, Morehead State University. Faculty Senate.

Faculty Senate Records

Comments document to the Employee Benefits Committee draft submitted to the Faculty Senate on February 1, 2024.