Business Commons^™

Direct Liability And Veil-Piercing: When One Door Closes, Another Opens, King Fung Tsang, Katie Ng

Fordham Journal of Corporate & Financial Law

Piercing the corporate veil has been substantially limited in English law since Prest v. Petrodel. This contraction coincides with the development of the direct liability doctrine which attaches liability directly on the parent company. The authors argue that the shift from using piercing the corporate veil to direct liability is a positive development as it gives English courts a better tool to combat the abuse of separate legal personality. However, compared the English doctrines with their counterparts under the U.S. laws, it is argued that the much broader U.S. piercing doctrine makes the expansion of direct liability doctrine unnecessary in …

Delaware’S Dominance, Wyoming’S Dare: New Challenge, Same Outcome?, Pierluigi Matera

Fordham Journal of Corporate & Financial Law

Despite increasing criticism, Delaware’s dominance in corporate law has not experienced a significant decline: as of today, 67.8 percent of Fortune 500 companies are still incorporated in its jurisdiction. Nevada is known as Delaware’s most important competitor, with an aggressive strategy that has overridden the efforts of any other jurisdiction. Yet, its success has been limited to a specific market segment: small firms with low institutional shareholding and high insider ownership.

Scholars suggest several explanations for both the rise and the staying power of Delaware. These explanations are essentially subsumed under the credible commitment theory and the network theory. According …

The Cryptic Nature Of Crypto Digital Assets Regulations: The Ripple Lawsuit And Why The Industry Needs Regulatory Clarity, Jacqueline Hennelly

Fordham Journal of Corporate & Financial Law

The tension and associated time lag between technology and regulation has been well documented. Paradigmatic of this phenomenon is the global evolution of blockchain technology and digital assets. Digital assets in the blockchain allow users to transact directly without financial intermediaries. However, the regulatory guidelines for the assets, their issuance, and the subsequent transactions are unclear. The Securities and Exchange Commission (SEC) has filed an action to apply its existing regulations and the judicial interpretations to Ripple’s issuance of XRP, its token, and Ripple’s control over subsequent user transactions of XRP. This Note uses SEC v. Ripple as a case …

Goodbye Buybacks? Why Recent Stock Buyback Reform Proposals Go Beyond What Is Necessary, Joshua Zelen

Fordham Journal of Corporate & Financial Law

This note provides an overview of the intensifying debate around the impact that stock buybacks have on economic inequality and the proposals designed to reform the practice. With the advent of the Securities and Exchange Commission’s (SEC) 1982 promulgation of Rule 10b-18, corporations began allocating vast portions of their profits to stock buybacks. In recent years, this practice has become increasingly more common and has surpassed previous historical benchmarks.

Critics of stock buybacks primarily view the practice as a misuse of excess corporate funds that could instead be allocated to improve employee working conditions, benefits, and future outcomes. Opponent’s concerns …

Enhancing The Impact Of Student-Led Entrepreneurial Initiatives In Egyptian Public Universities, Sherwat Elwan Ibrahim, Hend Ahmed, Lama Atef

Papers, Posters, and Presentations

Innovation and entrepreneurship are increasingly viewed as key contributors to the creation of sustainable livelihood opportunities for youth and increased socioeconomic resilience. Mindful of this, a noticeable part of the existing literature underscores the essential role played by university-based student-led entrepreneurship clubs in widening students’ engagement in the entrepreneurship ecosystem; increasing their entrepreneurial intention; improving their interpersonal and enterprise skills, and giving them the opportunity to gain hands-on experience through practical learning. This, in turn, improves their self-employment prospects and supports them in the creation of successful future entrepreneurs and employees. Additionally, the student-led entrepreneurship clubs help students bridge the …

The Global Impact Of Covid-19 And Tourism On Conservation Rangers' Guardianship Capabilities, Zachary Bockler

Honors Undergraduate Theses

This thesis explores how the COVID-19 pandemic has impacted wildlife rangers with an emphasis on the influences of tourism rates. Two sets of data are used: one is a survey of rangers around the world and the other looks at global governmental tourism data. While coming from a routine activities perspective, the problem of decreased capable guardianship becomes apparent in the form of massively decreased tourism arrivals and troubling ranger perceptions. This data allows for the establishment of tourism trends and changes during COVID. The findings of this thesis link the downturn in tourism with impacts on formal and informal …

Managing High Potentials And Executives: Results Of The 2022 Hr@Moore Survey Of Chief Human Resource Officers, Patrick M. Wright, Anthony J. Nyberg, Donald J. Schepker, Sam Strizver

Reports

Part of the 2022 HR@Moore Survey of Chief Human Resource Ofcers focused on the management of three pools of talent: high potentials, executives, and potential CEO successors. In terms of identifying high potentials, CHROs reported that the most important aspect is ensuring a diverse pool of talent. They also noted that providing access to senior executives serves as the most efective development tool for high potentials. CHROs also noted the importance of tracking retention of high potentials. In terms of executives, the survey asked a number of questions to understand turnover issues among executive-level talent. CHROs expressed a high priority …

Pandemic, Perceived Risk, And Cognitive Dissonance As Antecedents To Need For Cognitive Closure, Ruchika Sachdeva

WCBT Faculty Publications

The purpose of this article is to examine the influence of the pandemic, perceived risk, and cognitive dissonance on the need for cognitive closure. A consumer today wants an aversion towards the ambiguity that is created due to this pandemic. The data is collected using Amazon’s Mechanical Turk panel. All of the filled questionnaires are analyzed using stepwise regression. The findings suggest that perceived risk, pandemic, and cognitive dissonance influence the need for cognitive closure, and perceived risk is the major predictor of cognitive closure. These results enrich our understandings with regards to the importance of designing the marketing strategies …

Disparities In Demand For Covid-19 Hospital Care In The United States: Insights From A Longitudinal Hierarchical Study, Wolfgang Messner

Faculty Publications

Background and aims

This study examined disparities in hospitalization for COVID-19 within the U.S. by racial and ethnic groups, health insurance status, and social support structure.

Methods

Using publicly available ecological case and contextual data from July 2020 to April 2021, a longitudinal hierarchical model for the 51 U.S. states was constructed.

Results

Racial/ethnic disparities were observed, such as that hospitalization rates were higher in states with a higher percentage of Black (β = .002, P = .009) and American Indian or Alaska Native persons (β = .003, P = .03). Conversely, lack of health insurance was related …

Information Systems Analysis And Design: Past Revolutions, Present Challenges, And Future Research Directions, Keng Siau, Carson Woo, Veda C. Storey, Roger H.L. Chiang, Cecil Eng Huang Chua, Jon W. Beard

Business and Information Technology Faculty Research & Creative Works

Systems Analysis and Design (SAND) is Undoubtedly a Pillar in the Field of Information Systems (IS). Some Researchers Have Even Claimed that SAND is the Field that Defines the Information Systems Discipline and is the Core of Information Systems. the Past Decades Have Seen the Development of Structured SAND Methodologies and Object-Oriented Methodologies. in the Early 1990s, Key Players in the Field Collaborated to Develop the Unified Modeling Language and the Unified Process. Agile Approaches Followed, as Did Other Dynamic Methods. These Approaches Remain Heavily Employed in the Development of Contemporary Information Systems. at the Same Time, New Approaches Such …

The Social Cognitive Model Of Leadership Perceptions: Proposing A Dynamic, Integrated Theory Of Leadership Identification And Appraisal, Leah Howard, Justin Travis

University of South Carolina Upstate Student Research Journal

This paper is an exploration of the relationships between the stereotype content model, implicit leadership theory, and leadership behavior theory with a focus on illuminating the elements held in common by these three theories and identifying the positive implications of integrating these theories into an inclusive social cognitive model for future leadership research.

After briefly summarizing the three focal theories, we highlight the correspondence between them. We then establish the importance of organizing these theories into a comprehensive model which can be used to understand and explain leadership from a cohesive, multidimensional approach. In proposing such a theoretical model, we …

The Effect Of Touch Simulation In Virtual Reality Shopping, Ha Kyung Lee, Namhee Yoon, Dooyoung Choi

STEMPS Faculty Publications

This study aims to explore the effect of touch simulation on virtual reality (VR) store satisfaction mediated by VR shopping self-efficacy and VR shopping pleasure. The moderation effects of the autotelic and instrumental need for touch between touch simulation and VR store satisfaction are also explored. Participants wear a head-mounted display VR device (Oculus Go) in a controlled laboratory environment, and their VR store experience is recorded as data. All participants’ responses (n = 58) are analyzed using SPSS 20.0 for descriptive statistics, reliability analysis, exploratory factor analysis, and the Process macro model analysis. The results show that touch simulation …

Navigating The Ethically Complex And Controversial World Of College Athletics: A Humanistic Leadership Approach To Student Athlete Well-Being, Johnette (Jay) Caulfield, Felissa K. Lee, Catharyn Baird

Management Faculty Research and Publications

The college athletics environment within the USA is ethically complex and often controversial. From an academic standpoint, athletes are often viewed as a privileged class receiving undue benefit. Yet closer inspection reveals that student athletes are at risk psychologically, physically, and intellectually in ways that undermine development and flourishing. This reality stands in troubling contrast to the prosocial, virtue-based goals expressed by university mission statements. Given the role of sport in many university business models, college athletics invites scrutiny from a business ethics standpoint. Using a humanistic leadership perspective (Pirson in: Humanistic management: protecting dignity and promoting well-being, Cambridge University …

Retaining College Students Experiencing Shocks: The Power Of Embeddedness And Normative Pressures, David B. Wangrow, Kristie M. Rogers, Delia Saenz, Peter W. Hom

Management Faculty Research and Publications

Why do college students persist with their education, especially when facing challenges? We answer this question by exploring the complexities surrounding college student retention, using the organizational research lenses of job embeddedness, normative pressures, and the unfolding model of turnover. We first developed a college embeddedness scale and adapted a measure of normative pressures on college persistence. Then, we surveyed 287 first-year students from a broad range of racial and ethnic groups to understand their re-enrollment intentions and behavior. We found a positive relationship between re-enrollment intentions and normative pressures. Additionally, both college embeddedness and normative pressures predicted actual re-enrollment. …

Strategies Automotive Purchasing Managers Use For Managing Material Costs, Obundah Wenah

Walden Dissertations and Doctoral Studies

AbstractBusiness leaders continually face challenges with the rising cost of materials. Automotive purchasing managers need to develop strategies to manage the cost of materials. Grounded in resource dependency theory, the purpose of this qualitative multiple case study was to explore strategies purchasing leaders in the automotive industry use for managing material costs. Data collection included semistructured interviews and documentation, including purchasing policies and directives. The participants comprised four automotive purchasing managers who formulated and implemented material cost strategies. Five themes were identified using thematic analysis: (a) negotiation, (b) total cost of ownership, (c) reducing design complexity, (d) supplier strategic relationship, …

2022 Crummer Suntrust Portfolio Recommendations: Crummer Investment Management 23rd Anniversary, Jason Philips, Michael Capra, Denis Golubev, Connor Jensen, Kovi Katz

Crummer Truist Portfolios

SunTrust (now Truist) endowed this portfolio to provide scholarships for future Crummer students and to give current students a practical, hands-on learning opportunity. This year, we are pleased to be able to disburse $55,000 to be used for scholarships. We are extremely grateful for SunTrust’s generosity and investment in higher education. We have all learned a great deal from this experience and the responsibility of managing real money. Our first challenge is to establish a portfolio position that takes advantage of economic opportunities while avoiding unnecessary risk and conforming to the Crummer SunTrust Investment Policy Statement (IPS). We are also …

Towards A Better Understanding Of The Development Of Collaborative Consumption Pricing, Funda Sarican

2022

With the rise of social platforms, consumers started creating value by sharing human and physical resources. As a result, there has been an increase in collaborative consumption. My papers focus on the peer-to-peer travel accommodation service Airbnb, a popular online market for short-term housing rentals.

In paper one, an integrated framework for collaborative consumption pricing is developed by adopting the hedonic demand theory and leveraging the multilevel modeling method that accounts for various factors from nested data. This paper contributes to the research literature by extending the usage of multilevel modeling across cities to consider city effects and broadening the …

Audit Firm Culture: An Evolution Of The Audit Profession In Response To External Forces, Christina T. Alberti

2022

The COVID-19 pandemic is disrupting business operations throughout the world, including the working procedures of audit professionals. Yet, to date, research on COVID-19’s impact on auditing is limited. This is despite its potential long-term implications. Thus, my dissertation uses a mix of research methods to examine auditors’ response to, and regulators’ evaluation of auditors’ response to, COVID-19.

The first paper (co-authored) synthesizes research on audit firm culture (AFC) over the past decade, reviewing recent developments in research on AFC and its influence on audit quality and auditors’ work attitudes. Using a three-phase model based on prior research and professional guidance, …

Health And Healthcare In The Financial Reporting And Audit Environments, Landi Morris

2022

This dissertation is comprised of three papers that integrate analyses of health, health crises, and healthcare entities in the financial reporting and audit processes. The first paper considers how physical health influences audit outcomes via auditors’ cognitive processing. The second paper considers a global health disruption that impacts the audit process. In the third paper, I examine financial and tax reporting of hospital entities. I describe each paper in further detail below.

The first paper, co-authored with Rani Hoitash, examines whether influenza (flu), a potential threat to the conduct of public company audits, is associated with audit outcomes. Because the …

Three Papers On Sell-Side Financial Analysts, Zheng Liu

2022

This first paper (co-authored) tests the effect of Markets in Financial Instruments Directive II (MiFID II), which entered into force on 3 January 2018, on European-based sell-side financial analysts. We find that MiFID II, in part, unbundles brokers’ execution and research services. We assess the effectiveness of MiFID II in unbundling and find that the trading volume generated by the brokers that issued recommendation revisions declined significantly after the enactment of MiFID II. Further, in addition to a smaller price reaction to EU broker analysts’ recommendation revisions in the post period than in the pre period, these broker analysts appear …

Optimizing Pension Outcomes Using Target Volatility Investment Concept, Zefeng Bai

2022

The target volatility strategy is a very popular investment concept in financial marketplace. For my dissertation, I focus on studying the target volatility investment concept in application to pension accumulation as well as decumulation stages. Additionally, I extend a basic target volatility strategy by introducing trading boundaries to its asset allocation mechanism. My dissertation study follows a three-paper format.

In paper one, we propose a new pension strategy that aims at improving the protection of a long-term pension plan in volatile market conditions. Over a hypothetical twenty-year pension scheme, we show that our newly proposed strategy, which attaches a target …

Returning To The Statutory Text: Why The Language Of Section 13(B) Requires Courts To Narrowly Construe The Ftc’S Ability To Obtain Injunctive Relief, Christopher Halm

Fordham Journal of Corporate & Financial Law

The Federal Trade Commission (FTC) enforces over 70 laws in the areas of antitrust and consumer protection, and one valuable tool to support their enforcement is Section 13(b) of the Federal Trade Commission Act (“Section 13(b)”). Section 13(b), among other features, grants the FTC authority to seek an injunction in district court against any defendant that is “about to violate” one or more of those laws. For the past three decades, courts have adopted a permissive judicial interpretation of that language, authorizing injunctions against defendants when the allegedly impending violations were only “likely to recur” based on past misconduct. This …

Peeking Into The House Of Cards: Money Laundering, Luxury Real Estate, And The Necessity Of Data Verification For The Corporate Transparency Act’S Beneficial Ownership Registry, S. Alexandra Bieler

Fordham Journal of Corporate & Financial Law

It is estimated that $800 billion to $2 trillion are laundered globally every year, funding the schemes of bad actors and terrorists alike. These astronomical sums are moved around the world without detection; this is in large part due to the ease with which anonymous shell companies, typically limited liability companies (LLCs), can be created, particularly in the United States. America is one of the most egregious enablers of this practice because most states require little to no information about the person ultimately controlling the entity, known as the “beneficial owner.” Working through an LLC, bad actors often turn to …

Competing For Deal Flow In Local Mortgage Markets, Darren Aiello, Mark Garmaise, Gabriel Natividad

Faculty Publications

The U.S. mortgage market exhibits competitive instability in which some lenders emerge rapidly from the fringe to substantial market shares. Using inferred discontinuities in application acceptance models to generate local lending shocks, we analyze the impact on a lender of a surge in originations by its competitors. We show that the quickest-growing (not the largest) competitors divert applications and originations from other lenders. Facing a quickly-growing competitor, lenders charge higher interest rates, partially due to the increased risk of their loans. Loan performance suffers for other lenders as the quickestgrowing competitor’s originations increase.

Strategies That Weekly Print Newspapers Use In The Digital Age, Mia Alexander-Davis

Walden Dissertations and Doctoral Studies

The development of Web 2.0 transformed the distribution of information in the United States and challenged the print newspaper business model to develop an online presence. As a result, some weekly print newspaper managers were forced to develop digital strategies to maintain the viability of their organizations in a changing market. Grounded in Kotter’s change management model, the purpose of this qualitative multiple case study was to explore strategies weekly print newspaper managers used to create an online presence. The data sources were semistructured interviews with three weekly print newspaper managers and publicly available documents, including company archives, website data, …

Strategies To Retain Bank Tellers In The Banking Industry, Travis Deandre Houser

Walden Dissertations and Doctoral Studies

Bank and credit union managers face challenges in preserving bank productivity and competition. Understanding the factors contributing to teller retention is vital for bank and credit union managers to create and implement employee retention strategies. Effective retention strategies may help retain the best tellers to remain competitive in the banking industry. Grounded in Herzberg’s two-factor theory, the purpose of this qualitative multiple case study was to identify successful strategies bank managers use to improve bank teller retention. The participants were six managers from two banks and one credit union in Montgomery, Alabama, who successfully implemented teller retention strategies. Data were …

International Expansion Strategies For Small Businesses, May Alkhudari

Walden Dissertations and Doctoral Studies

Small businesses in the United States struggle to globalize and compete in a globalized economy, which diminishes their growth and investment opportunities. Small business owners in the United States struggle to expand their business globally due to the lack of information, which limits their profitability. Grounded in Porter's five forces theory, the purpose of this qualitative multiple case study was to explore small retail business owners' strategies to improve their profitability opportunities through global expansion. The participants were five small retail business owners in the Northeast region of the United States who successfully expanded their business internationally. Data were collected …

Motivational Strategies Warehouse Managers Use To Improve Employees’ Performance, Brooks Latonya Demming

Walden Dissertations and Doctoral Studies

Failure to improve employee performance can have unfavorable organizational outcomes. Organizational leaders are concerned about employee performance because improving employee performance is critical for achieving organizational goals. Grounded in Vroom’s expectancy theory of motivation, the purpose of this multiple-case study was to explore strategies warehouse managers use to improve employees’ performance. Data were collected using semistructured interviews with three warehouse managers, member-checking interviews, and a review of public company documents. Data were analyzed using thematic analysis. Three themes emerged: organizational communication, employee empowerment, and a supportive work environment. A key recommendation for warehouse managers is to communicate expectations to employees …

Strategies Of Successful Project Managers Leading Virtual Teams, Allison Harris Bean

Walden Dissertations and Doctoral Studies

Some project managers lack strategies to effectively lead virtual project teams, which can result in a lack of clear project direction, collaboration and communication, and empowerment to solve problems within the team. Grounded in transformational leadership theory, the purpose of this qualitative multiple-case study was to explore strategies project managers use to lead virtual teams effectively. The participants were three project managers in. the United States who worked exclusively with virtual teams and had a minimum of one year of experience leading a virtual project team. Data were collected using semi-structured interviews and analyzed using thematic analysis. Three themes emerged: …

Adapting Through Organizational Change In Capital Projects Organizations, Mahmoud El Jazzar

Theses and Dissertations--Civil Engineering

Organizational change can be defined as an alteration of a core aspect of an organization’s operation, structure, or culture. Previous research on organizational change mainly has focused on different types of technical changes, such as alternative project delivery methods and strategies to adopt the design-build approach successfully. Also, previous studies have focused on the project level changes instead of organizational level responses. Here I show using a proposed change model and performing thematic, and analysis, that there exist common responses, and challenges across different types of capital projects organizations studied. The results show that responses to change will differ as …