Business Commons^™

7 Million Americans Can’T Escape ‘Dead End’ Jobs, Patrick Gillespie

Capstones

Involuntary part-time is one of the worst problems in the labor market today. These are people who want full-time work, but for a collage of reasons, can only obtain part-time work (35 hours a week or less). There are about 7 million Americans stuck in involuntary part-time work. At the start of the recession, there were about 3.5 million. Although the economy shows signs of improvement, involuntary part-time workers express little hope in their future. Many don't have healthcare, About 75 percent of IPT workers are either below the poverty line or in low income ($36,000 for a family of …

Macroeconomic Fluctuations As Sources Of Luck In Ceo Compensation, Hsin-Hui Chiu, Lars Oxelheim, Clas Wihlborg, Jianhua Zhang

Business Faculty Articles and Research

Macroeconomic fluctuations in interest rates, exchange rates, and inflation can be considered sources of good or bad “luck” for corporate performance if management is unable to adjust operations to these fluctuations. Based on a sample of 2,091 US firms, we decompose the impacts of macroeconomic fluctuations on three measures of CEO compensation. Our study provides empirical support for the importance of considering macroeconomic fluctuations in designing CEO incentive schemes. It adds to the managerial power literature on moral hazard and CEO compensation by pinpointing the obvious risk that the CEO in an asymmetric and non-linear reward system will be inclined …

Group-Average Observables As Controls For Sorting On Unobservables When Estimating Group Treatment Effects: The Case Of School And Neighborhood Effects, Joseph G. Altonji, Richard K. Mansfield

Rick Mansfield

We consider the classic problem of estimating group treatment effects when individuals sort based on observed and unobserved characteristics. Using a standard choice model, we show that controlling for group averages of observed individual characteristics potentially absorbs all the across-group variation in unobservable individual characteristics. We use this insight to bound the treatment effect variance of school systems and associated neighborhoods for various outcomes. Across four datasets, our conservative estimates indicate that a 90th versus 10th percentile school system increases high school graduation and college enrollment probabilities by at least 0.047 and 0.11. Other applications include measurement of teacher value-added.

Determinants Of Product Upgrading In The Argentine Wine Industry, Lucas Marc Cyr

Theses and Dissertations

In this thesis, I examine the impact that a firm's connections and internal resources has on the firm's ability to develop new products. The capability to make improvements to products is crucial to the long term success and growth of a firm. By using structural equation modeling, I take a different approach to network analysis to analyze data from the Argentine wine industry. While I did not find strong evidence to support the hypothesis that the combination of external networks and internal knowledge are key drivers to product upgrading, there was strong evidence to support each individual determinant’s impact on …

St. Cloud Area Quarterly Business Report, Vol. 16, No. 4, King Banaian, Richard A. Macdonald

St. Cloud Area Quarterly Business Report

No abstract provided.

The Economic Review Of The Travel Industry In Montana: 2014 Biennial Edition, Kara Grau, Jake Jorgenson, Norma P. Nickerson

Institute for Tourism and Recreation Research Publications

This review provides current and historical data of nonresident travel and tourism in Montana, and offers the industry's economic contributions to the state.

China-Based Industrial Espionage, Joel Savary

Student Scholar Symposium Abstracts and Posters

On Oct 8, 2014 China has surpassed the United States as the world’s largest economy in terms of Purchasing Power Parity (PPP)” (IMF). My paper explores one of the instances of unlawful business practices that have contributed to China’s new world position. China based espionage undercuts American businesses and U.S. foreign policy directly, causing catastrophic economic implications for America, its businesses, and its allies. The U.S. government is grappling with the means and methods China uses to disseminate information stolen from U.S. businesses to support China based industries. Due to the lack of transparency in China, it has been difficult …

Market Structure-Driven Discrimination And The Earnings Of Subordinate Managers: An Analysis By Union Density, Richard U. Agesa, Jacqueline Agesa

Economics Faculty Research

Recent work examines the market structure/racial earnings relationship for union and nonunion workers and finds that standardized union earnings protect black workers from market structure–driven earnings discrimination. This study examines the market structure/racial earnings relationship for low and mid-level managers in high- and low-union density industries. Our findings indicate that there is less market structure–driven discrimination of managers in highly unionized industries. We suggest that there is a spillover effect of reduced market structure–driven discrimination of managers in highly unionized industries that stems from standardized, more racially equitable wages of union workers.

Survey Of Lincoln Area Businesses About Skill And Training Requirements, Eric Thompson

Bureau of Business Research Publications

his report discusses the results from the Make it Work for Lincoln survey of employers conducted by the University of Nebraska-Lincoln Bureau of Business Research (UNL-BBR). The survey of employers in the Lincoln Metropolitan Area was conducted under contract with the Nebraska Department of Labor and with the participation of the Nebraska Department of Economic Development and ATD-Lincoln. The report examines the types of occupations Lincoln area employers are searching for and hiring, and the types of difficulties employers face when hiring. The survey also asks about the types of training which employers provide. Business responding to the survey reported …

Do Gasoline Prices Affect Residential Property Values?, Adele C. Morris, Helen R. Neill

Brookings Mountain West Publications

This paper estimates the effect of gasoline prices on home values and explores the degree to which the relationship varies across a city. Using data from 930,702 home sales in Clark County, Nevada, from 1976 through 2010, we find that gasoline prices have significantly different effects on the sales price of homes in different neighborhoods. A ten percent increase in gasoline prices is associated with changes in location-specific average home values that span a range of over $13,000. This suggests that energy policies may affect household housing wealth via gasoline prices, a heretofore unrecognized distributional outcome.

Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane

Bullion

The paper looks at the impact of the rebasing on an important economic variable - investment. This is because investment is necessary for capital accumulation and economic growth. Specifically, this study examines the impact of GDP rebasing on Nigeria's investment environment. ln addition to this introduction section, section 2 considers GDP rebasing and the Nigerian case, section 3 is on the Nigerian Financial System Strategy (FSS) 2020, section 4 is on investment types, drivers and the Nigerian environment, section 5 offers some lessons for Nigeria and section 6 is the summary and conclusion.

Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi

Bullion

This article reviews the relationship between payments system and financial stability. lt explores the risks within the payments system and how they impact on financial system stability. Emerging issues in the payments system were highlighted and implications for the financial system stability were examined. The article also proposes sets of payments system indicators that may be adopted within the financial system stability analysis and policy making.

Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi

Bullion

A resilient economy founded upon a reliable financial system, is attainable upon the creation and management of a sound and progressive economic statistics and indicators such as the Gross Domestic Products (GDP) and other scholars’ parameters. This paper examines the GDP rebasing and its impact on Nigeria’s investment. The paper explains the concept of GDP; the need to maintain a strategic GDP; how it is computed and / or rebased. This is then followed by examining its implications, on all economic programs.

Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili

Bullion

The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.

Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba

Bullion

The study explores the the global rise in the operation of sovereign wealth funds in a number of commodity and non commodity exporting counties has been of tremendous magnitude. The fact that, most, if not all the oil exporting countries of the world today have SWF clearly confirms the many benefits of having a sovereign wealth fund. Section two of the paper provides a brief review of literature. Section three discusses the rationale for SWFs with some stylized facts. The impact of SWFs on the economy is discussed in section four, section five discusses the significance of SWFs while, an …

A Study Of Technical Efficiency Of Deposit Money Banks In Nigeria (2007 - 2012), Auwalu I. Fagge

Bullion

This paper examines the technical efficiency of deposit money banks (DMBS') in Nigeria. Measures of technical efficiency are derived in the Nigerian deposit money banks (DMBS') by implementing non-parametric, data envelopment analysis technique on a cross section of 24 banks taken from 2007 to 2013. The efficiency concepts, measurement and methodology were discussed. The existence of technical efficiency is established. The result suggests that the sources of overall technical inefficiency, the observed issues are due to poor input utilization (managerial inefficiency) and failure to operate almost productive scale size. Therefore, in this research the paper suggests or considers some important …

Nexus Of Exchange Rate Deregulation And Agricultural Share Of Gross Domestic Product In Nigeria, Oyakhilomen Oyinbo, Falola Abraham, Grace Z. Rekwot

CBN Journal of Applied Statistics (JAS)

The kernel of this study was to examine the causal relationship between exchange rate deregulation and the agricultural share of gross domestic product in Nigeria from an econometric perspective using time series data spanning a period of 26 years (1986 – 2011). Data on exchange rate and gross domestic product were analysed using augmented dickey fuller unit root test, unrestricted vector autoregression, pairwise granger causality and vector error correction model. The results showed the existence of unidirectional causality from exchange rate to agricultural share of gross domestic production and also, exchange rate deregulation had negative influence on agricultural share of …

Forecasting Nigerian Stock Market Returns Using Arima And Artificial Neural Network Models, Godknows M. Isenah, Olusanya E. Olubusoye

CBN Journal of Applied Statistics (JAS)

The study reports empirical evidence that artificial neural network based models are applicable to forecasting of stock market returns. The Nigerian stock market logarithmic returns time series was tested for the presence of memory using the Hurst coefficient before the models were trained. The test showed that the logarithmic returns process is not a random walk and that the Nigerian stock market is not efficient. Two artificial neural network based models were developed in the study. These networks are TECH (4-3-1) and TECH (3-3-1)whose out-of-sample forecast performance was compared with a baseline ARIMA (3,0,1) model. The results obtained in the …

Relationship Between Money Supply And Government Revenues In Nigeria, Yakubu Musa, Umar Usman, Aminu B. Zoramawa

CBN Journal of Applied Statistics (JAS)

The insights on the long run relationship amongst money supply and government revenues are of significant importance for monetary-fiscal policy formulation in a developing country like Nigeria. Taking into account the vital importance of these two variables, we empirically analyzed the long-run relationships and dynamic interactions between the money supply (broad money M2) and government revenues in Nigeria using an Autoregressive Distributed Lag (ARDL) bounds testing approach. The study spans the period 1970 to 2010. From the results, it is evident that there is the existence of a long run relationship between money supply and revenues when money supply is …

Cointegration Analysis Of Public Expenditure On Tertiary Education And Economic Growth In Nigeria, Japheth T. Torruam, Moses A. Chiawa, Cyprian C. Abur

CBN Journal of Applied Statistics (JAS)

The paper investigates the Impact of public expenditure on tertiary education and economic growth in Nigeria using time series data for the period 1990- 2011.The econometric methodology employed was cointegration and error correction technique. The study concludes that public expenditure on tertiary education has positive impact on economic growth in Nigeria. The study recommended that government and private sectors should partner by mobilizing resources to furnish tertiary institutions and equip them with adequate facilities in order to enhance tertiary education development for sustainable economic growth.

The Balance Sheet Channel Of Monetary Policy Transmission: Evidence From Nigeria, Olorunsola E. Olowofeso, Abiodun S. Bada, Kufre J. Bassey, Kumafan S. Dzaan

CBN Journal of Applied Statistics (JAS)

This paper assesses the existence of a balance sheet channel of monetary policy transmission in Nigeria by examining whether variation in the official interest rate, with respect to the 2007- 2008 global financial crisis, feeds through to the deposit money banks (DMBs) balance sheets, and ultimately reflects in output and prices. Using quarterly macroeconomic data and stock from 2002 to 2012, the study employs an ordinary least squares (OLS) and autoregressive (VAR) framework to investigate the linkages between policy, DMB balance sheet, output and price. The results reveal the existence of a balance sheet channel in Nigeria with a significant …

Testing Volatility In Nigeria Stock Market Using Garch Models, Ngozi V. Atoi

CBN Journal of Applied Statistics (JAS)

The contributions of error distributions have been ignored while modeling stock market volatility in Nigeria and studies have shown that the application of appropriate error distribution in volatility model enhances efficiency of the model. Using Nigeria All Share Index from January 2, 2008 to February 11, 2013, this study estimates first order symmetric and asymmetric volatility models each in Normal, Student’s-t and generalized error distributions with the view to selecting the best forecasting volatility model with the most appropriate error distribution. The results suggest the presence of leverage effect meaning that volatility responds more to bad news than it does …

Determinants Of Economic Growth In Nigeria, Kazeem B. Ajide

CBN Journal of Applied Statistics (JAS)

This paper investigates the role of Frazer Economic Freedom Index on FDI-growth relationship over the period spanning 1980 through 2010 using annual time series data. A Multivariate Regression approach was employed to estimate augmented growth models. Quite intriguingly, the impact of disaggregated economic freedom over aggregated composite index was found profoundly revealing. Emanated results show that the same set of variables like labour, life expectancy, degree of openness and economic freedom are factors affecting the level of economic growth in both but at different levels of significance. However, the estimates of disaggregated components of economic freedom data show that the …

Two Essays On Governance At The National And Corporate Level, Laura Savory Miller

HCBE Theses and Dissertations

ESSAY 1
We examine the effect of governance environment on the composition of a country's external capital structure, specifically foreign equity investment. In addition to the absolute quality of the host country's governance environment, we consider the host country's governance quality relative to that of the source (investor) country. Unlike previous studies, which utilize country totals, we examine foreign investment positions between pairs of individual countries. Our sample includes 3,891 bilateral investment positions among 49 source countries and 69 host countries for years 2009 through 2011. We find that relative governance, rather than absolute governance, plays a role in foreign …

International City/County Management Association 1999 Revenue Estimation Survey Revisited, Benjamin Bond

UNLV Theses, Dissertations, Professional Papers, and Capstones

In 1899 the National Municipal League declared that it was the duty of the Mayor to submit to the Council the annual budget of current expenses of the city, for almost as long, the budgeting process has been researched (Hou, 2006). Researching budgets is important and needed but comparatively little attention has been paid to revenue forecasts or to those responsible for the generation of revenue forecasts. Professional public administrators responsible for generating revenue forecasts have largely been overlooked in research. Judging by the lack of scholarly material available in academic journals, it appears the political process in which budget …

Sabbaticals, Kevin F. Hallock

Economics Faculty Publications

With the year end upon you and many workplaces closing, reducing hours or accommodating employee vacations because of the holidays, this column focuses on rewards in the form of time away from work that is not so common -- sabbaticals. Sabbaticals are a generous benefit to those workers who have them. And they can clearly be an important part of a total rewards package. According to inc.com, while 5% of firms in the US offer sabbaticals, 25% of the companies listed in "Best Companies to Work For" offer them. Corporate sabbaticals, however, aren't typically as generous in length as those …

Curbing Corporate Inversions: A Study Of National And International Efforts To Establish Corporate Tax Equity, Scott Novak

Independent Study Project (ISP) Collection

In recent years, the number of U.S. companies trying to merge with a foreign company and thereby reincorporate themselves in countries with a lower corporate tax rate – a practice known as corporate inversion – has skyrocketed. The public outcry in 2014 against corporate inversions led the U.S. Treasury to release a series of new anti-inversion regulations, and more policy changes are in the process of being debated. At the same time as this national discussion on the harmful effects corporate inversions have on the U.S. tax base is progressing, the Organization for Economic Cooperation and Development (OECD) is in …

Essays On Moral Hazard, Bank Size, Influence, And Risk At The Federal Home Loan Banks, James Cash Acrey

Graduate Theses and Dissertations

Two chapters of research on the Federal Home Loan Bank advances, bank risk, and influence are presented. Federal Home Loan Bank (FHLB) advances are a growing source of debt financing for US banks. FHLB advances are not priced according to bank credit risk, creating potential for moral hazard. FHLB advances are positively related to contemporary bank risk, but the relation between prior advances and subsequent risk varies between large vs. small banks depending upon the risk measure used. The relation between FHLB advances and various measures of bank risk varies between pre-crisis (2005-07), crisis (2008-09), and post-crisis (2010-12) periods differently …

Mountain Monitor - 3rd Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

As a group, the 10 major metro areas of the Mountain West outperformed the national economy during the third quarter of 2014 on all four indicators of economic vitality measured by the Mountain Monitor: employment growth, output growth, unemployment, and house prices. In the three months ending in September, the country’s large metropolitan areas were anticipating the rapid uptick in national economic growth that took hold at the end of 2014. Mountain region metro areas led the way.

All but two major metro areas in the region added jobs, and six did so at a faster rate than the …

Impact Of Monetary Uncertainty And Economic Uncertainty On Money Demand In Africa, Alice Kones

Theses and Dissertations

This dissertation investigates the role that economic uncertainties and monetary uncertainties play in the money demand function for 21 African countries. The Auto-regressive Distributive Lag (ARDL) and F-test approach are employed using quarterly time series data covering the period from 1971I-2012IV. In particular, this paper aims to demonstrate both short and long-run relationships between the dependent variables, Real Money Aggregate (M2), and the independent variables that include real income (Y), inflation rate nominal effective exchange rate (NEX), output uncertainty (VY), and monetary uncertainty (VM). We apply GARCH methodology to approximate the uncertainty measures. The empirical results show that except for …