Business Commons^™

Public Hedge Funds, Lin Sun, Song Wee Melvyn Teo

Research Collection Lee Kong Chian School Of Business

Hedge funds managed by listed firms significantly underperform funds managed by unlisted firms. The underperformance is more severe for funds with low manager deltas, poor governance, and no manager co-investment, or managed by firms whose prices are sensitive to earnings news. Notwithstanding the underperformance, listed asset management firms raise more capital, by growing existing funds and launching new funds post listing, and harvest greater fee revenues than do comparable unlisted firms. The results are consistent with the view that, for asset management firms, going public weakens the alignment between ownership, control, and investment capital, thereby engendering conflicts of interest.

A Closer Look At The Measurement Of Dispositional Reasoning: Dimensionality And Invariance Across Assessor Groups, François S. De Kock, Filip Lievens, Marise Ph. Born

Research Collection Lee Kong Chian School Of Business

Despite the growing interest in dispositional reasoning as a construct and determinant of good raters (good judges'), its measurement still requires attention. We address two measurement issues in the present study. First, this study tests a hierarchical model as a more parsimonious account for dispositional reasoning than component- or general-factor models that were examined in earlier studies. So, this provides a more comprehensive test of the different measurement models underlying dispositional reasoning data. Second, we assess the measurement invariance of dispositional reasoning measure scores across two different populations of assessors that are often trained and used in workplace assessments, namely …

Does Financial Education Enhance Financial Preparedness? Evidence From A Natural Experiment In Singapore, Rashmi Barua, Seng Kee Benedict Koh, Olivia S. Mitchell

Research Collection Lee Kong Chian School Of Business

We evaluate how financial education provided to college students influenced their financial knowledge and planning in a quasi-experimental setting where we control for student motivation to enroll in the course. Using a difference-in-difference strategy, we show that financial education led to an increase in financial knowledge and planning. Specifically, we find that financial education improved students’ financial knowledge score by 11%, and financial planning score by 16%. No statistically significant effects are detected for student levels of financial prudence, discipline, or outcomes related to credit card usage.

The Predictive Audit: Why Prevention Is Better Than A Cure, Clarence Goh

Research Collection School Of Accountancy

Foreseeing potential problems can save your business from long-term headaches.

Configuring Innovative Societies: The Crossvergent Role Of Cultural And Institutional Varieties, Di Fan, Yi Li, Liang Chen

Research Collection Lee Kong Chian School Of Business

The study aims to explore why some societies are more innovative than others in high-technology sectors. Following a crossvergence perspective, we generate nine causal conditions by accommodating both cultural and institutional varieties: uncertainty avoidance, masculinity, individualism and power distance as culture indicators, and union density, skill development, market capitalization to credit, prevalence of cluster and state dominance as institutional indicators. Applying the configurational approach, we conducted fuzzy-set qualitative comparative analysis (fsQCA) on Organization for Economic Co-operation and Development (OECD) member countries. We confirm the equal importance of both cultural and institutional mechanisms as contributors to national innovativeness, and identify equifinal …

Reshaping The Financial Order, Christopher Dula, David Kuo Chuen Lee

Research Collection Lee Kong Chian School Of Business

The financial system, which governs and manages the practice of deposits, lending and payments, is in the throes of disruption following the shortcomings of the current regime. Despite US$11 trillion in quantitative easing since 2007, economic growth has been persistently sluggish. The money isn't going where it should be. In 2015, McKinsey reported that global debt had grown by US$57 trillion since 2007. The debt is becoming unsustainable, yet the global debt-to-income ratio continues to rise disproportionally to any deleveraging. The Fed's meandering signaling to nudge up interest rates beyond the near zero range raises concerns that private and even …

Twin Momentum: Fundamental Trends Matter, Dashan Huang, Huacheng Zhang, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

Using both the levels and the time-series trends of a collection of firms' major fundamentals, we find that fundamentals matter after all: they can also generate strong return momentum. A fundamental momentum strategy that goes long stocks with fundamental in the top quintile and short stocks with fundamental in the bottom quintile earns a monthly average return of 88 bps, and is comparable with the popular price momentum but has little correlation. Combining price momentum and fundamental momentum yields a twin momentum, which has an average return more than the sum of both price momentum and fundamental momentum. Twin momentum …

Powerful Blockholders And Ceo Turnover, Chi Shen Wei, Lei Zhang

Research Collection Lee Kong Chian School Of Business

We identify the power of institutional blockholders to influence management using previous occurrences of forced CEO turnover at other firms in the blockholders’ overall portfolio. We create a “powerful blockholder linkage” measure that strongly predicts future forced CEO turnover. These effects are larger when “powerful” blockholders are more motivated to monitor and when they have had valuable monitoring experience. Moreover, firms with powerful blockholders display higher CEO turnover-performance sensitivity, pursue more value-increasing mergers, and have higher firm value. Overall, our results suggest that an identifiable group of powerful blockholders play an important role in corporate governance.

The Real Effect Of The Initial Enforcement Of Insider Trading Laws, Zhihong Chen, Yan Huang, Yuanto Kusnadi, K. C. John Wei

Research Collection School Of Accountancy

Based on a difference-in-differences approach, we find strong evidence that the initial enforcement of insider trading laws improves capital allocation efficiency. The effect is concentrated in developed markets and manifests shortly after the enforcement year. Further analysis shows that the improvement is positively associated with the increase in liquidity around the enforcement year and the opaqueness of the information environment before the enforcement year. The improvement is more pronounced for firms operating in more competitive markets, being more financially constrained, and with more severe agency problems. Finally, we find increased accounting performance after the enforcement and the increase is positively …

Economic Downturns Undermine Workplace Helping By Promoting A Zero-Sum Construal Of Success, Nina Sirola, Marko Pitesa

Research Collection Lee Kong Chian School Of Business

Workplace helping is essential to the success of organizations and economies. Given the economic benefits of helping, it seems important that during difficult economic periods the amount of helping does not decline. In this research, we propose and show that it does. We argue that cues that signal the economy is performing poorly prompt a construal that the success of one person implies less success for others. This zero-sum construal of success in turn makes employees less inclined to help. Four studies found evidence consistent with our theory. Study 1 found that worse economic periods are associated with a more …

Effects Of Upward Football Reclassification On Revenues, Football Attendance, And Enrollment, Charles Bell

Graduate Theses and Dissertations

With an ever increasing chasm between the have and have nots in college athletics, athletic directors and university administrators view reclassification as a way to increase financial standing and gain valuable exposure for their school despite mixed findings by recent studies. The process of reclassification costs schools sizable financial and labor investments detracting from their academic endeavors. The schools at the highest level of collegiate football competition enjoy constant national television exposure for their school resulting in many direct and indirect benefits. A repeated measures ANOVA was utilized to assess the change in athletic department revenues, student enrollment and football …

Is It We Or They? The Effect Of Identity On Collaboration And Performance In Buyer-Supplier Relationships, Siqi Ma

Graduate Theses and Dissertations

In today’s scale-driven and technology-intensive global economy, collaboration becomes the supply chain’s core capability (Liker and Choi, 2004). A well-developed ability to create and sustain fruitful collaborations gives companies a significant competitive advantage (Kanter, 1994). Retailers are increasingly relying on their suppliers to reduce costs, improve quality, and develop new processes and products faster than their rivals’ vendors can. On the other hand, suppliers benefit from retailers that they are able to monitor store-level demand in real time in order to ensure the top-selling items are in-stock or the accuracy and timeliness of retailer’s demand forecast. Previous literature has shown …

Editorial, Jason Franklin

The Foundation Review

No abstract provided.

Support Resources For Student Success Report, Morehead State University. Office Of First Year Programs.

Faculty Senate Records

Support Resources for Student Success Report issued in August of 2017.

Fair Deposits Against Double-Spending For Bitcoin Transactions, Xingjie Yu, Shiwen M. Thang, Yingjiu Li, Robert H. Deng

Research Collection School Of Computing and Information Systems

In Bitcoin network, the distributed storage of multiple copies of the blockchain opens up possibilities for double spending, i.e., a payer issues two separate transactions to two different payees transferring the same coins. To detect the doublespending and penalize the malicious payer, decentralized non-equivocation contracts have been proposed. The basic idea of these contracts is that the payer locks some coins in a deposit when he initiates a transaction with the payee. If the payer double spends, a cryptographic primitive called accountable assertions can be used to reveal his Bitcoin credentials for the deposit. Thus, the malicious payer could be …

Numerical Methods For Option Pricing Under The Two-Factor Models, Jiacheng Cai

UNLV Theses, Dissertations, Professional Papers, and Capstones

Pricing options under multi-factor models are challenging and important problems for financial applications. In particular, the closed form solutions are not available for the American options and some European options, and the correlations between factors increase the complexity and difficulty for the formulations and implements of the numerical methods.

In this dissertation, we first introduce a general transformation to decouple correlated stochastic processes governed by a system of stochastic differential equations. Then we apply the transformation to the popular two-factor models: the two-asset model, the stochastic volatility model, and the stochastic interest rate models. Based on our new formulations, we …

Monitoring Airport Service Quality: A Complementary Approach To Measure Perceived Service Quality Using Online Reviews, Kiljae Lee, Chunyan Yu

Publications

Based on 42,063 airport reviews collected from Google Maps, we conducted a sentiment analysis and a topic modeling. We showed that the sentiment scores computed from textual reviews are good estimates of their paired star-ratings (r=0.63, p<0.01). Next, using the LDA (Latent Dirichlet Allocation), we extracted latent topics from the textual reviews and compared them with the standard categories utilized in the Airport Service Quality survey (ASQ). The topics extracted from reviews correspond well with the categories used in ASQ. We, in turn, compared the online ratings with the ratings annually updated by ASQ. While online reviews discuss almost identical topics with those of ASQ, the correlation between the ratings from two was weak (r=0.2). We suggest that the text mining approach using online reviews not only provides an inexpensive, dynamic, and locally customizable means of monitoring airport quality but also complements the standard survey by offering an alternative metric. ><0.01). Next, using the LDA (Latent Dirichlet Allocation), we extracted latent topics from the textual reviews and compared them with the standard categories utilized in the Airport Service Quality survey (ASQ). The topics extracted from reviews correspond well with the categories used in ASQ. We, in turn, compared the online ratings with the ratings annually updated by ASQ. While online reviews discuss almost identical topics with those of ASQ, the correlation between the ratings from two was weak (r=0.2). We suggest that the text mining approach using online reviews not only provides an inexpensive, dynamic, and locally customizable means of monitoring airport quality but also complements the standard survey by offering an alternative metric.

The Impact Of Supportive Parenting On Career Confidence Of Young Adults, Salma Ettefagh

UNLV Theses, Dissertations, Professional Papers, and Capstones

Despite freedoms for women in modern economies, there remains a large disparity between female graduation rates and women achieving high-ranking positions in the business world. Confidence may be one factor why women are underrepresented in the executive class.This

exploratory research investigated if supportive parenting has an effect on self-reported career confidence among undergraduates. A quantitative ANOVA analysis found that instrumental support factors (for example, money and tuition) overall were significant in predicting performance-based confidence, particularly for males. However, qualitative results showed that supportive parenting and confidence are not always correlated.

Consumer Attitudes And Purchase Intentions Of Cruises In China, Wenjia Han

UNLV Theses, Dissertations, Professional Papers, and Capstones

This study examined the impact of consumers’ attitudes towards cruises on their purchase intention of cruises. A sample of 229 past outbound travelers in China were surveyed via an online self-administered survey sent by a Chinese online survey platform named ’So Jump’. The survey used a two-part statement evaluation format to measure cruise purchase intentions and the factors that impact the intentions. Respondents were asked to rate their level of agreement, the important of the sub-factors, and the likelihood to participate in certain activities on a seven-point Likert scale. Use the theory of planned behavior as the base, the three …

Impact Of Ingredient Branding On The Hotel Brand: Spillover Effect Of Branded Amenities, Eun Joo Kim

UNLV Theses, Dissertations, Professional Papers, and Capstones

Ingredient branding is a popular marketing strategy, in which a brand uses a different branded product as a component in the main one. Utilizing ingredient branding, a host brand can benefit from the positive evaluation of a component brand that customers are already aware of. Although the hotel industry has applied a substantial number of other brands as internal factors, there has been little awareness or research on ingredient branding. The main purpose of the study was to investigate 1) whether ingredient branding has a positive impact on a hotel brand equity and 2) whether the effect varies for different …

Value Co-Creation Propositions: A Self-Determination Theory Of Customer Acceptance, Trust And Wellbeing, Lenna V. Shulga

UNLV Theses, Dissertations, Professional Papers, and Capstones

With the emergence of shared business models, hospitality and tourism consumers are faced with the decision to accept value propositions from various service providers, including traditional, collaborative and shared. Grounded in service-dominant logic, theory of acceptance, theory of value, self-determination theory and generational theory, this dissertation examines why consumers accept value propositions from service providers and what drives customers to collaborate with front-line employees. The research uses three studies that utilized a destination resort context with a mixed factorial equal cells experimental design. Study 1 utilized a 3 (generations) x 3 (business models) x 4 (value propositions) factorial between-within subjects …

Hedge Fund Performance And Derivative Hedging, Yongjia Li

Graduate Theses and Dissertations

This dissertation is comprised of three essays which focus on hedge fund performance and derivative hedging. The first essay uses ETF returns as proxies for tradable risk factors in hedge fund performance evaluation and identifies contemporaneously relevant risk factors from the entire universe of ETFs. The model provides more informative estimates of alpha and beta coefficients for predicting hedge fund out-of-sample performance compared with other widely used hedge fund factor models. Portfolios of top alpha hedge funds selected by the model generate statistically significant out-of-sample performance that is substantially higher compared with portfolios selected by other models. In addition, the …

Burning Budgets: Does An Institutional Blank-Check Raise The Severity And Cost Of Fighting Wildland Fires?, Devin T. Stein

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

In conducting this research, I wanted to explore whether political incentives have a significant effect on wildfire management in the United States. I attempt to answer this question by proving a theoretical justification for why wildfires may become more expensive to fight and severe to manage because of political institutions. I then attempt to provide some hard evidence to support this theory by using regression analysis. My analysis suggests that political factors do matter for wildfire suppression funding, although I was unable to find strong enough evidence to suggest that these political factors are actually driving more severe wildfires.

This …

How To Enhance Interdisciplinary Competence—Interdisciplinary Problem-Based Learning Versus Interdisciplinary Project-Based Learning, Mirjam Brassler, Jan Dettmers

Interdisciplinary Journal of Problem-Based Learning

Interdisciplinary competence is important in academia for both employability and sustainable development. However, to date, there are no specific interdisciplinary education models and, naturally, no empirical studies to assess them. Since problem-based learning (PBL) and project-based learning (PjBL) are learning approaches that emphasize students’ collaboration, both pedagogies seem suitable to enhance students’ interdisciplinary competence. Based on the principle of constructive alignment and four instructional principles on interdisciplinary learning, this paper proposes that students profit more from interdisciplinary PBL (iPBL) than interdisciplinary PjBL (iPjBL). A pre-post study was conducted with a sample of 95 students participating in iPBL and 183 students …

Handwritten Notes Regarding Peter Drucker Lessons, C. William Pollard

C. William Pollard Papers

In these handwritten notes, Pollard outlines some of the lessons he has learned from a long relationship with noted management theorist Peter Drucker.

1932 – Digitization Of Rutillus Harrison Allen’S 1932 “Map Of Types Of Farming In Monterey County” [Draft]

Groundwater Basin Maps

A 2017 digitization of Rutillus Harrison Allen’s 1932 “Map of Types of Farming in Monterey County” from his dissertation entitled, “Economic History of Agriculture in Monterey County During the American Period.”

2017 Joint Meeting Of Mcwra And Monterey County To Consider 2015 Salinas Valley Groundwater Level Contours & Seawater Intrusion Maps

Monterey County Water Resources Agency Water Reports

A July 13, 2017, presentation of the Monterey County Water Resources Agency (MCWRA) at the Joint Meeting of the MCWRA Board and Monterey County Board of Supervisors. Provides a review of the Monterey County Water Resources Agency Groundwater Monitoring program the purpose of which is to monitor the health of the basin, evaluate MCWRA projects and develop basin management strategies pertaining to groundwater use and seawater intrusion.

Pre-Certification Interprofessional Education: Ideal Vs. Reality Patient Safety Curriculum, Edward E. Ward

Doctor of Business Administration (DBA)

Watershed events at the turn of the millennium brought international attention to profound breaches in patient safety due to medical error, prompting an outcry for a collaborative focus on medical education to eliminate similar future events. Researchers suggested almost two decades ago that exposure to teachings on medical error prevention and patient safety should happen early in student training, not merely in post-certification coursework. Nevertheless, medical errors continue to increase. This study investigates the priority given to error prevention and patient safety in current interprofessional education (IPE) curricula of pre-certified learners. This qualitative investigation was sequential in two phases. Phase …

The Mediating Role Of Representational Predicaments : Between Autocratic Leadership And Subordinates’ Workplace Behaviors, Nan Wang

Lingnan Theses

A representational predicament for an employee is a negative experience in which that employee believes that a key authority, such as his/her supervisor, has unfavorable perceptions about himself/herself caused by misconception, bias, or ignorance. That implies he/she is experiencing injustice at the workplace. Drawing for underlying explanations on the theories of interactional justice and equity, this study examines, through quantitative and qualitative methods, how autocratic leadership influences subordinates’ representational predicaments and in turn adversely affects subordinates’ behaviors in the workplace. The model developed in this thesis proposes that a subordinate is likely to have a stronger experience of representational predicaments …

Succession Planning In The Religious Non-Profit Sector: Understanding Associate Pastors’ Experiences Of Serving As Internal Interims, Darius Mason Chapman

Human Resource Development Theses and Dissertations

Abstract

SUCCESSION PLANNING IN THE RELIGIOUS NON-PROFIT SECTOR: UNDERSTANDING ASSOCIATE PASTORS’ EXPERIENCES OF SERVING AS INTERNAL INTERIMS

Darius Chapman

Committee Co-Chair: Andrea D. Ellinger, Ph.D.

Committee Co-Chair: Rochell McWhorter, Ph.D.

The University of Texas at Tyler

May 2017

The concept of succession planning is not new for organizations, as most will experience the loss of key personnel for a variety of reasons including retirement, termination, death, and unforeseen circumstances. Therefore, having a deliberate and systematic process for identifying, developing, and retaining key personnel makes succession planning critical to the long term viability of organizations.

However, challenges in the global marketplace, …