Business Commons^™

Dynamic Investment Opportunities And The Cross-Section Of Hedge Fund Returns : Implications Of Higher-Moment Risks For Performance, Vikas Agarwal, Gurdip Bakshi, Joop Huij

Research Collection BNP Paribas Hedge Fund Centre

In this paper, we examine higher-moment market risks in the cross-section of hedge fund returns to make several contributions. First, we show that hedge funds are substantially exposed to the three highermoment risks - volatility, skewness, and kurtosis. In contrast, mutual funds do not display meaningful dispersions in their exposures to these risks. Further, funds of hedge funds when examined as a separate investment category do not show aggressive loading on higher-moment risks. Second, we provide evidence on economically significant premiums being embedded in hedge fund returns on account of their exposures to higher-moment risks. Third, we uncover a set …

Are Two Carrots Better Than One? The Effects Of Adding Employment Services To Financial Incentive Programs For Welfare Recipients, Philip K. Robins, Charles Michalopoulos, Kelly Foley

Economics Articles and Papers

The Self-Sufficiency Project (SSP) was a social experiment conducted in two Canadian provinces during the 1990s that tested a generous financial incentive program for welfare recipients. A little-known subsidiary experiment, called SSP Plus, had a three-way design that tested the incremental effect of adding employment services to the generous financial incentive program. Employment services are viewed by many welfare analysts as an important component of an overall strategy for helping welfare recipients escape poverty and achieve stable employment. This paper presents the results of the SSP Plus experiment. Adding employment services encouraged more people to take up the earnings supplement, …

April 2008, Inland Empire Business Journal

Inland Empire Business Journal

Motivation through mission

Investments and Finance

Economic Review and Forecast: The California Report: Uncharted Waters

Commentary - Opinion

Sales: Six business trends every salesperson must know

Real Estate Notes

Management: Recession survival guide for business

The Lists: Meeting Facilities

The Lists: Visitors and Convention Bureaus

The Lists: Top Travel Agencies

Computers/Technology

The Lists: Indian Gaming Facilities

RedFusion media wins five ADDY awards

Executive Notes

Restaurant Review

Manager’s Bookshelf

New Business Lists: County of San Bernardino

New Business Lists: County of Riverside

Executive Time Out

Gurteen-Style Knowledge Cafes: An Alternative Approach To Learning And Networking, Knowledge@Smu

Knowledge@SMU

David Gurteen describes himself as an “independent knowledge advisor and facilitator”. He is the founder of the Gurteen Knowledge Community which functions virtually through a community website, and through Knowledge Cafes which meet regularly in different cities around the world. Gurteen visited Singapore recently and talked to Knowledge@SMU about his views on knowledge sharing, learning and networking.

Retirement Planning: Most People Don’T Know How Nor Even Think About It, Knowledge@Smu

Knowledge@SMU

Worldwide, individuals are being asked to make more of their own savings and investment decisions, especially for retirement. In the US and Europe, for example, company-managed pension plans are giving way to those where employees are in charge of their own retirement money. In Singapore too, the government is encouraging individuals to take a more active role in their own retirement planning. Research by Wharton insurance and risk management professor Olivia Mitchell and Singapore Management University finance professor Benedict Koh shows, however, that people are not well-equipped to handle such investment decisions.

Successful Chinese Business Elites Blend East And West, Knowledge@Smu

Knowledge@SMU

"How do the rich get rich?” Against the backdrop of Asia’s spectacular rise as a global economic powerhouse, how a handful of wealthy Chinese business leaders in east and southeast Asia built their global fortunes and reputations is the focus of a joint study by sociology professors Chung Wai Keung of Singapore Management University and Gary G. Hamilton of the University of Washington. The authors delve into more than a century of regional commerce and trade to better understand the Chinese business elites of today. --------------------------------------------------------------------------------

Brand Valuation: Why Measuring The Intangibles Makes Business Sense, Knowledge@Smu

Knowledge@SMU

David Haigh, group chief executive of Brand Finance, is a well known author, speaker and authority on brand and intangible asset valuation. Haigh was the featured speaker earlier this year on the topic “Brand Valuation: What does it all mean to companies?” at the Center for Marketing Excellence, Singapore Management University. Haigh spoke to Knowledge@SMU about the concept of brand valuation, how it is carried out, and why companies need to value brands to meet strategic, due diligence and investor relations goals.

Asian Research Universities: What Does The Future Hold?, Knowledge@Smu

Knowledge@SMU

Asian universities strive to become leading global research centres of excellence, they face a number of local and international issues and challenges. Very few will make the grade in terms of advancing knowledge, delivering outstanding graduates, and creating new technologies and industries to drive economic development in the region. At the February 2008 Singapore Management University Distinguished Presidential Lecture, Dr Suh Nam Pyo – previously at MIT for over three decades and currently president of the Korea Advanced Institute of Science and Technology (KAIST) -- outlined his own institution’s efforts to excel as a 21st century research university.

April 2008, Monte Ahuja College Of Business

Dialogue: News from the Monte Ahuja College of Business

UpFront: Faculty and Student Engagement in the Business Community, Part 3 -- Nance Minority MBA Students Make it to the Final Round of Key Bank Competition -- Nance Students Win Ohio HR Games -- Featured Student: Giovanna Carrillo, DBA Candidate -- Featured Alumnus: Ernie Corvi, BBA '07 -- Colette Taddy Hart Elected to Board of Governors for NASBITE International -- Introducing Dr. Dieter Gramlich, Visiting Professor from Berufsakademie Heidenheim in Germany -- Introducing Dr. Manyu Huang, Visiting Scholar from Zhongnan University of Economics and Law, China -- Dr. Lundstrom receives a GMAC Grant -- Dr. Whipple Receives Grant for Study …

The Reform Of Corporate Taxation In The European Union, Nina Winkler

Cornell Law School Inter-University Graduate Student Conference Papers

The Commission of the European Communities is currently drafting a proposal for an EU Directive to implement the first comprehensive corporate tax strategy for the Internal Market. The adoption of a common consolidated corporate tax base for EU multinational enterprises is one of today’s most highly debated issues on Brussels’ political agenda. Since the reform would affect all international companies conducting business in the Internal Market, it should also be of great interest for non-EU corporate and tax law scholars and lawyers. The paper critically evaluates the key advantages and disadvantages of the concept of an EU consolidated tax base …

Corporate Social Responsibility And Energy: Lessons From Enron, Robert L. Bradley Jr.

Center for Applied Economics

Capitalism took the fall for Enron. Yet it is largely forgotten that this company had been a favorite of the environmental Left and an advocate/practitioner of the trendy notion of corporate social responsibility (CSR). Nonetheless, when the company collapsed in December 2001, Enron and its once-iconic chairman Ken Lay suddenly became Exhibit A against the teachings of Adam Smith, Ayn Rand, Milton Friedman, and other proponents of self-interest and voluntary exchange.

Sustainable Portland: Implementation Series 1, New England Environmental Finance Center

Climate Change

When the Sustainable Portland Task Force Report was released in November 2007, under the leadership of Mayor Jim Cohen, Portland Councilor Kevin Donoghue had the idea that students at the Muskie School of Public Service might be able to help implement recommendations from the report. It may have helped that Kevin was himself a graduate of the Community Planning and Development Master’s program at the Muskie School, but it was a good idea nevertheless. He approached Professor Sam Merrill in the CPD program, who spoke with the new Mayor Ed Suslovic about a possible partnership between the City and the …

Santa Clara Magazine, Volume 49 Number 4, Spring 2008, Santa Clara University

Santa Clara Magazine

14 - LET THE SUN SHINE IN By Steven Boyd Saum. In the international Solar Decathlon competition, a team from Santa Clara blazed a dazzling trail from almost-ran to third in the world.

20 - VISIONS FROM THE SIXTIES By Lisa Taggart. It was art that broke all the rules. And now an exhibit at the de Saisset Museum, curated by Santa Clara scholar Andrea Pappas, captures the sense of optimism and energy when the only limits were imagination itself.

26 - JORMA'S JOURNEY By Mark Purdy. With Jefferson Airplane, he helped define the San Francisco sound. With Hot Tuna …

Sources Of Wood & Wood Residues For Energy Production In Indiana, Isaac Slaven, Eva Haviarova, Klein Ileleji

Faculty Research & Creative Activity

As energy prices rise and there is a push for energy to be produced from renewable resources, the contribution of Indiana’s corn and soybean industry often overshadows the impact that the State’s wood residues can have in response to these demands. Reports show that the wood products industry is the largest, by paid wages, of any agricultural industry in Indiana and employs 47,000 Indianans.1 In fact, Indiana has more than 4.5 million acres of forest land,2 compared to about 12.3 million acres of cropland.3 In addition to the millions of acres of forestland, Indiana has more than 1,600 wood products …

Customer Satisfaction Index Of Singapore: Executive Summary 2007, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

The Institute of Service Excellence at Singapore Management University was appointed by the Workforce Development Agency (WDA) to implement and maintain an annual benchmark for service related industries in Singapore. The 2007 Customer Satisfaction Index of Singapore (CSISG 2007) is based on data from a nationwide survey conducted between May 1 and July 23 2007. This survey was designed by the National Quality Research Center (NQRC) at the University of Michigan and modeled after the American Customer Satisfaction Index (ACSI).

Front Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Minutes Academy Of Accounting Historians Officers And Trustees Meeting, April 12, 2008; Minutes Academy Of Accounting Historians Business Meeting, April 12, 2008, Stephanie D. Moussalli

Accounting Historians Notebook

No abstract provided.

Academy Receives Large Endowment; Did You Notice The Notebook Was Late...?, Stephanie D. Moussalli, Joann Noe Cross

Accounting Historians Notebook

No abstract provided.

Call For Nominations: Innovation In Accounting History Education, Academy Of Accounting Historians

Accounting Historians Notebook

No abstract provided.

Accounting History, Railroads And Bibliographies: All On The Same Track, Andrew D. Sharp, Kristen L. Phillips

Accounting Historians Notebook

No abstract provided.

Ole Miss Accountant – Spring 2008, University Of Mississippi. School Of Accountancy

Ole Miss Accountant

Cover story: From Oxford to London: Accountancy interns explore the profession

End Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Vol. 10 No. 1 Esr Review, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Securitization Of Catastrophe Mortality Risks, Yijia Lin, Samuel H. Cox

Department of Finance: Faculty Publications

Securitization with payments linked to explicit mortality events provides a new investment opportunity to investors and financial institutions. Moreover, mortality-linked securities provide an alternative risk management tool for insurers. As a step toward un¬derstanding these securities, we develop an asset pricing model for mortality-based securities in an incomplete market framework with jump processes. Our model nicely explains opposite market outcomes of two existing pure mortality securities.

Economic Development At A New Level, Ned C. Hill

Journal of Microfinance / ESR Review

No abstract provided.

Solving The Access Problem, Francisco Prior Sanz

Journal of Microfinance / ESR Review

No abstract provided.

Entrepreneurship, Thinking, And Economic Self-Reliance, Ronald K. Mitchel, Adam D. Bailey, Mitchell J. Robert

Journal of Microfinance / ESR Review

No abstract provided.

Education A Powerful Asset For Single Mothers, Richard J. Mcclendon, Julie Humberstone

Journal of Microfinance / ESR Review

No abstract provided.

What Is Economic Self-Reliance?, Paul C. Godfrey

Journal of Microfinance / ESR Review

Editor's Note: This issue begins our third year under the banner ESR Review. ESR stands for economic self-reliance, and we have published a number of themed issues addressing particular issues of development and self-reliance. When I first became involved in this project, my task was to define what we mean by economic selfreliance and to create a theory-based model of how individuals and families can become more self-reliant. The next four issues will center on the different elements of the model. This issue focuses on the role of human capital in economic development and self-reliance.

Utilizing Socially Responsive Knowledge, Lisa Jones Christensen, Jennifer Boehme Kumar

Journal of Microfinance / ESR Review

No abstract provided.