Business Commons^™

Is The Cfa Franc Prone To Speculative Attacks Or A Contagion Effect: A Stochastic-Markov Transition Analysis For Cameroon, Louis Sevitenyi Nkwatoh Mr

CBN Journal of Applied Statistics (JAS)

The study employs the Markovian processs on annual nominal effective exchange rate of CFA Franc spanning 1975 to 2017 to examine whether the CFA franc is prone to speculative attacks or a contagion effect. The findings reveal that the expected duration for the CFA Franc to be undervalued is twice higher than for it to be overvalued. This validates the contagion effect of a Euro crisis on the CFA Franc. Though the level of growth increased significantly during the undervaluation era, the level of uncertainty remains equally high. The findings confirm that exchange rate devaluation influences the expectations of private …

Assessing Contingent Convertible Bonds For Bank Recapitalization In Nigeria, Kabir Katata

CBN Journal of Applied Statistics (JAS)

This study estimates the parameters of credit derivatives, equity derivatives and structural models for bank recapitalisation in Nigeria by employing contingent convertibles (CoCos) and using the Nigeria Treasury Bill rate for 2009 as the risk-free rate, estimated recapitalisation requirements for the banks as at 2009 and relevant banks’ share prices for 2008 and 2009. The study finds the structural approach as the preferred model for CoCo pricing, as it reported the least pricing errors and also builds asset values of the banks from publicly-available quoted stock prices as well as deposit components of bank’s balance sheet information. The study also …

2019 June, Morehead State University. Office Of Communications & Marketing.

Morehead State Press Release Archive, 1961 to the Present

Press releases for June of 2019.

When Objective Price Information Is Not Available: Impact Of Unpublished Or Missing Prices On The Purchase Journey For High Costs, High Involvement Products, Thomas J. Dammrich

College of Business Theses and Dissertations

Every model of the consumer purchase journey includes an evaluation phase, during which consumers search for product attributes including price. While much has been written about search, knowledge uncertainty, and the role of price in continued search and purchase intent, very little, if any, empirical work has been done to understand the impact on the path to purchase when objective price is not available. This study undertakes a field experiment with random assignment in a natural setting to examine the impacts on consumer behavior related to continued search, lead generation and purchase intent when objective price is not available. The …

Overcoming The Race-Sex Barrier: What Matters Most In The Executive Sponsorship Of Black Women, Stephanie B. Smith

College of Business Theses and Dissertations

This study was conducted to examine the factors that are common, different and most important in the executive sponsorship of Black female protégés in comparison to the executive sponsorship of White male protégés. Drawing on social capital and social exchange theory, I propose a model that examines specific protégé and sponsor attributes relevant to career mobility and sponsorship for White male and Black female protégés. A sample of existing sponsors (n=72), comprised of C-suite executives (CEO, President, Managing Directors), and their protégés (n=59) who were senior level professionals (Division Presidents, General Managers, and Vice Presidents) participated in the study. Notwithstanding …

Impact Of Supply Chain Design On The Relationships Between Strategy Type, Firm Performance, And Supply Chain Outcomes, Kyle Pudenz

College of Business Theses and Dissertations

While the impacts of corporate strategy and supply chain design on firm performance have been independently studied, the role of supply chain design as an integrated element of corporate strategy is not well understood. This study aims to understand whether alignment between an organization’s strategy type and supply chain design positively impacts financial performance and supply chain outcomes. The study design involved a quantitative survey of 95 management professionals knowledgeable about their corporate strategy, supply chain design, and firm performance. Firm performance was measured in financial terms of perceived profitability and market share gains as well as through use of …

Marginal Cost Of Risk-Based Capital And Risk-Taking, Tao Chen, Jing Rong Goh, Shinichi Kamiya, Pingyi Lou

Research Collection School Of Economics

We explore the impact of capital adequacy requirements on financial institutions' risk-taking behavior from a novel perspective. Specifically, we show that an important feature of the risk-based capital (RBC) system a built-in diversification benefit in aggregating risk categories induces moral hazard. We find that insurers that face lower marginal RBC costs of fixed-income (FI) investment tend to purchase riskier Fl securities. This relationship holds even when lower marginal RBC costs result from increased risk in other risk categories, which is an unintended consequence of the RBC's square root rule. Using Hurricanes Katrina and Sandy as exogenous shocks to the RBC …

A Case Study Examining The Structure Of The Event Process At California Polytechnic State University, Ryan R. Baker

Master's Theses

The purpose of this study was to examine the structure of the event process on Cal Poly’s campus. An intrinsic case study method was used, and data were collected and analyzed using triangulation from three sources of information: documents, interviews, and participation research. Overall, the structure of the event management process on campus was found to be stable, but could use improvement. Cal Poly should consider establishing a specific, designated organization that would help centralize the event management process at Cal Poly. This organization could be in charge of training and updating event managers, approving events, monitoring volume of events …

New England Slave Trader: The Case Of Charles Tyng, Paul J. Michaels

Master's Theses

Charles Tyng has been heralded as an American hero after the posthumous publication of his memoir, Before the Wind: The Memoir of an American Sea Captain, 1808-1833, in 1999. Recent research involving British Treasury report books from the nineteenth century suggest otherwise – that Tyng actively promoted and was engaged in the illicit trade of African captives. A Boston Brahmin, Tyng applied the lessons of his time at sea with Perkins & Company, the opium trading firm, to his occupation as an agent of notorious slave trading firms in Havana. This paper uses as evidence records of the captures …

The Effects Of Corporate Reputation And Compensation Disclosure On Investor Judgments, Poh Sun Seow, Clarence Goh, Gary Pan

Research Collection School Of Accountancy

Regulators have increased the disclosure requirements of top executives as part of corporate governance reform. This study examines how trust arising from a firm’s corporate reputation will interact with top executive compensation disclosure to influence investor judgments. This study used a 2 X 2 between subjects experimental design, with corporate reputation (good versus bad) and pay ratio (high versus low) as independent variables to test the hypotheses. The key findings show that if the firm with a good corporate reputation discloses a high pay ratio, participants punished the good reputation firm more than the bad reputation firm, demonstrating a negative …

Product Diversification Strategy, Business Group Affiliation, And Ipo Underpricing: A Study Of Chinese Firms, A. Xiaodan Wang, William P. Wan, Daphne W. Yiu

Research Collection Lee Kong Chian School Of Business

Research Summary: Extant research has largely ignored if and how product diversification strategy influences IPO performance. We intend to fill this gap in the literature, especially in relation to transition economies where the role of diversification is institutionally bound. Specifically, drawing on the strategic actions and political connections arguments, we contend that the level of a firm's product diversification has a positive relationship with IPO underpricing. Given the prominent role of business groups in shaping firms' diversification strategies in transition economy, we further examine whether business groups' nonmarket capital-political, relational, and reputational capital-moderates the relationship between product diversification strategy and …

The Information In Asset Fire Sales, Sheng Huang, Matthew C. Ringgenberg, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

Duplicate record, see https://ink.library.smu.edu.sg/lkcsb_research/5894/. Asset prices remain depressed for several years following mutual fund fire sales. We show that price pressure from fire sales is partly due to asymmetric information which leads to an adverse selection problem for arbitrageurs. After a flow shock, fund managers do not scale down their portfolio, rather, they choose to sell a subset of low-quality stocks that subsequently underperform. In other words, fund managers have selling skill. Our findings suggest an explanation for the tendency of asset prices to remain depressed following fire sales: information asymmetries make it difficult for arbitrageurs to disentangle pure …

Building Trust For A Positive Employee Experience, Richard Raymond Smith

Research Collection Lee Kong Chian School Of Business

How do we create the right environment of trust at workplace and avoid surprises?

Can Algorithms Help Us Decide Who To Trust?, David De Cremer, Jack Mcguire, Yorck Hesselbarth, Ke M Mai

Research Collection Lee Kong Chian School Of Business

The use of artificial intelligence (AI) and algorithms is increasing within organizations to manage business processes, hire employees, and automate routine organizational decision making. This comes as no surprise, since the application of simple linear algorithms have been shown to outperform human judgment in the accuracy of many administrative tasks. A 2017 Accenture survey also revealed that 85% of executives want to invest more extensively in AI-related technologies over the next three years.

Aicpa Technical Questions And Answers, As Of June 1, 2019, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Aicpa Audit And Accounting Manual, June 1, 2019: Nonauthoritative Practice Aid, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Full Issue #11.2 On Collaborative Learning

The Foundation Review

No abstract provided.

Designing For Emergence: The Mccune Charitable Foundation Grows Agency Across New Mexico, Marilyn Darling, Heidi Sparkes Guber, Jillaine Smith, Wendy Lewis

The Foundation Review

The impact of the inherent power imbalance in the grantmaker/grantee relationship has come into particular focus as equity and justice have become a greater priority for philanthropy. This article looks at the example of the McCune Charitable Foundation, which deliberately designed an emergent strategy approach that establishes clear goals and then created a platform to permit a reversal of that power dynamic, so that leadership for priorities comes from those closest to the work.

The authors launched a two-year project to research what emergence might look like in seven complex social-change initiatives, and how the strategy could grow agency and …

Evaluating For The Bigger Picture: Breaking Through The Learning And Evaluation Barriers To Advancing Community Systems-Change Field Knowledge, Thomas Kelly, Prudence Brown, Hanh Cao Yu, Marie Colombo

The Foundation Review

Foundations investing in community systems change often fail to prioritize field-level and cross-initiative evaluation questions in building initiatives. As a result, many of the documented evaluations of such investments lack translatable lessons specific and influential enough to drive related decisions and actions of others in the field.

This article developed from ongoing, multiyear peer learning across several foundations that collectively compiled recommendations for community systems-change funders and evaluators to implement more powerful evaluations. They are intended to help funders and evaluators engaged in these efforts build sectorwide knowledge capable of informing improved work across initiatives and communities. This article also …

Executive Summary

The Foundation Review

No abstract provided.

Better Together: Engaging Stakeholders In Learning And Leadership To Guide Foundation Resources Toward Adaptive Systems Change, Nadine Long, Kimber P. Richter, Jennifer Elise Avers, Rick Cagan

The Foundation Review

In 2014, the Kansas Health Foundation brought together a group of knowledgeable stakeholders from a multitude of specialties to focus on reducing tobacco use specifically among Kansans with mental illness. Over 15 months, the group and the foundation worked to learn deeply about the issue and inform action that could be taken on individual, organizational, and systemic levels.

The wealth of knowledge and experience brought by each participant to the discussion and learning about this complex issue, together from a range of perspectives, resulted in a more productive dialogue. The model proved very effective, as evidenced by the group’s success …

Learning Together: Cohort-Based Capacity Building And The Ripple Effects Of Collaboration, Sonia Taddy-Sandino, Mary Gray, Danielle Scaturro

The Foundation Review

Foundations frequently commission evaluations and are the primary audiences for findings. Grantee organizations, however, often don’t see the results, or they find in them limited value and relevance to their own work. Funders like the Edna McConnell Clark Foundation are quietly disrupting this status quo by exploring ways to fully engage grantees, co-funders, technical consultants, and evaluators in collective learning and reflection.

The foundation’s comprehensive, cohort-based capacity-building program, PropelNext, was designed to enhance the performance of promising nonprofits that serve America’s disadvantaged youth. With a combination of financial support, individualized coaching, and peer-learning sessions, grantees engage in a test-and-learn cycle …

More Than Listening: Harnessing The Power Of Feedback To Drive Collaborative Learning, Clare Nolan, Kim Ammann Howard, Kelley D. Gulley, Elizabeth Gonzalez

The Foundation Review

Foundations can and should do a better job of gathering feedback from and learning with both grantees and the communities they seek to serve. This type of collaborative learning has the potential to inform and strengthen foundation strategy, grantmaking practices, evaluation, and communications. Gathering meaningful input is difficult, however, given power dynamics between foundations and those they support. Even when authentic input has been gathered, it can be difficult to apply insights to ongoing work.

What does it look like for a foundation to get feedback from its grantee and community stakeholders? Much of the feedback discussions taking place in …

Learning About Neighborhood Change Through Funder-Grantee Collaboration, Debra Dahab, Brooke Finn, Lois Greco, Nancy Kopf

The Foundation Review

NeighborWorks America and the Wells Fargo Regional Foundation support change in communities through a rigorous and structured collaborative learning framework that places the resident voice and experience at the center of learning. Both funders regularly engage in collaborative learning processes with their grantees and partners to support local revitalization practices and inform program and grantmaking strategies.

This article examines the key ingredients and processes needed to develop and sustain collaborative learning among grantee organizations, community residents, and other stakeholders and funding partners, as well as the critical role played by technical assistance providers.

The authors reflect on their experience with …

Book Review: Giving Done Right: Effective Philanthropy And Making Every Dollar Count, Paul G. Putman

The Foundation Review

No abstract provided.

From Idea To Initiative: Real-Time Learning For A Funder Collaborative On Nonprofit Strategic Restructuring, Way-Ting Chen, Lynn Alvarez, Carrie Harlow, Shannon Johnson, Jennifer Price-Letscher

The Foundation Review

Evaluation and learning is often seen as a high-stakes, formalized process of comparing an effort at its conclusion against some standard or benchmark. More recently, formative and developmental approaches to evaluation have been created to accommodate the need for more adaptability and ambiguity in an effort.

The Nonprofit Sustainability Initiative, a multiyear collaboration of 17 funders in Los Angeles County, California, supports nonprofit organizations to collaborate and restructure in a variety of forms. As the initiative evolved, its evaluation and learning system had to have the ability to evolve with it. Real-time learning informed initiative design and refinement, aligned funders …

Editorial, Teresa R. Behrens

The Foundation Review

No abstract provided.

Strategic Orientation Reflections On Organizational Performance (Applied Research In The Ministry Of Defense / Inspector General), Ali Mawat Al-Sudani, Mohammed Jasim Naser

Journal of Economics and Administrative Sciences

The aim of the study was to study the implications of the strategic direction on organizational performance. The research was carried out in the Iraqi Ministry of Defense / Inspector General's Office for the purpose of identifying the nature of the relationship and the impact between the two variables. A sample of 60 people managers, department managers and directorates was targeted. The researcher tried to test hypotheses in the first chapter, which was devoted to the methodology of research and previous studies and found the following: (1) validity of the first hypothesis of the existence of a relationship of positive …

Industry Return Predictability: A Machine Learning Approach, David E. Rapach, Jack K. Strauss, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

In this article, the authors use machine learning tools to analyze industry return predictability based on the information in lagged industry returns. Controlling for post-selection inference and multiple testing, they find significant in-sample evidence of industry return predictability. Lagged returns for the financial sector and commodity- and material-producing industries exhibit widespread predictive ability, consistent with the gradual diffusion of information across economically linked industries. Out-of-sample industry return forecasts that incorporate the information in lagged industry returns are economically valuable: Controlling for systematic risk using leading multifactor models from the literature, an industry-rotation portfolio that goes long (short) industries with the …

Analyst Career Concerns, Effort Allocation, And Firms Information Environment, Jarrad Harford, Feng Jiang, Rong Wang, Fei Xie

Research Collection Lee Kong Chian School Of Business

Analysts strategically allocate more effort to portfolio firms that are relatively more important to their careers. Thus, the other firms the analysts cover indirectly affect a firm’s information environment. Controlling for analyst and firm characteristics, we find that an analyst makes more accurate, frequent, and informative earnings forecasts and recommendations for firms ranked higher within her portfolio based on proxies for importance to institutions. A firm’s relative rank widely varies across analysts, but its information environment improves when a larger proportion of analysts consider it to be relatively important. Analysts experience more favorable career outcomes when strategically allocating their efforts.