Business Commons^™

Why Do Banks Fail Together? Evidence From Executive Compensation, Deniz Anginer, Jinjing Liu, Cindy A. Schipani, H. Nejat Seyhun

Fordham Journal of Corporate & Financial Law

Recent bank failures have elicited extensive interest about the causes, focusing on incompetence of bank executives, policymakers, bank regulators and supervisors and even uninsured depositors. Yet, before we can prescribe solutions to bank failures, we need to identify the correct causes of the underlying problems. We argue that the problem is not so much with incompetence of executives, depositors, or regulators per se, but rather with managerial incentives.

We provide both a conceptual basis as well as empirical evidence to show that bank executives have incentives to increase systemic risks in order to maximize the benefits of bank bailouts. Consequently, …

A Bona Fide Dispute: Can Bankrupt Debtors Sell Assets Free And Clear Of Federal Civil Forfeiture Claims?, Joseph Peter Gomez

Fordham Journal of Corporate & Financial Law

Auctions are wheeling-dealing extravaganzas in which frenzies of bidders fight over shiny objects. What would happen if the government busted down the doors of the auction house, took the shiny objects, and sold them online? An asset sale through section 363(b) of the Bankruptcy Code provides a court-supervised opportunity to maximize economic value for the bankruptcy estate. To sell estate assets, the debtor must either (1) pay off each creditor holding an interest in the assets or (2) strip the creditor’s interest and attach it to the proceeds of the sale. When the government asserts a civil forfeiture claim against …

Another Major Question: The Department Of Labor Should Retire The Tiebreaker Rule And Reemploy Pecuniary Language In Erisa, Brandon Chesner

Fordham Journal of Corporate & Financial Law

The Employee Retirement Income Security Act of 1974 (“ERISA”) soon turns 50. Instead of celebrating with cake, retirees and future retirees alike get to witness a new chapter in the debate over the consideration of Environmental, Social, or Governance (“ESG”) factors in investing with plan assets. As employees cross the bridge into retirement, they look to their 401(k)s and pension plans for peace of mind, for it is ERISA that has been working silently in the background establishing minimum standards, practices, and fiduciary duties to protect participants. In recent years, the U.S. Department of Labor (“DOL”) has passed three regulations—two …

Speech Without Speakers: Eliminating Artificial Barriers To Pleading Corporate Scienter In Securities Fraud Claims, Jennifer Ligansky

Fordham Journal of Corporate & Financial Law

To successfully plead securities fraud claims under Rule 10b–5, the Private Securities Litigation Reform Act (“PSLRA”) requires that plaintiff-investors raise a “strong inference” that the defendant acted with scienter when issuing a false statement. But pleading scienter presents a challenging issue when the defendant is not a person, but an entity. When the defendant is a corporation, U.S. Circuit Courts of Appeals have adopted different approaches for determining whether the plaintiff has pleaded a strong inference of scienter. Some circuits hold that plaintiffs can raise a strong inference of corporate scienter only if the complaint identifies a speaker who knew …

The Lease Of All Evils: How A Middle-Ground Approach Can Resolve The Bankruptcy Code Conflict Between Section 363(F) Sales And Section 365(H) Lessee Protections, Kate Christensen

Fordham Journal of Corporate & Financial Law

The Fifth Circuit’s recent decision in In re Royal St. Bistro, LLC has awakened an unsettled issue in the Bankruptcy Code that has divided the bankruptcy community for over two decades. The question examined by the Fifth Circuit was whether a non-debtor lessee with a right to continued possession through section 365(h) of the Bankruptcy Code loses this right if the debtor-lessor can sell its property “free and clear” under section 363(f). While early decisions held that section 365(h) always protects lessees against debtors’ free and clear sales, some subsequent decisions created a circuit split by ruling that section 365(h) …

Dare To Serve: The Importance Of Servant Leadership To Christian African American Women Ceos Within The Nonprofit Industry, Sheila Tolbert

Doctor of Ministry

African American Christian women CEOs of smaller nonprofit organizations face multiple challenges in developing the necessary leadership skills to ensure their organization’s success including a deficiency in formal leadership training, difficulties in balancing Christian beliefs with leadership responsibilities, and limitations in interacting with boards of directors. The lack of appropriate leadership skills hinders their ability to effectively lead their nonprofit organizations, improve their organization’s performance, and limits career advancement.

The current options for leadership training do not adequately address the challenges and opportunities faced by these leaders. The lack in leadership development results in a deficiency of African American women …

“I’M Especially Sorry To Those Impacted”: Conventional Visions Of Leadership In The 2022/2023 Tech Layoffs, Jared J. Watkins

Student Theses and Dissertations

In 2022 and 2023, over 400,000 employees in the technology sector were laid off. This study conducted a thematic analysis using coding on memos announcing layoffs sent by leaders at Meta, Google, and Microsoft in late 2022 and early 2023. This study also conducted an analysis of layoff memos sent by leaders of Google and Microsoft in 2009 for comparison. Key findings include that writing to multiple stakeholders in the 2022/2023 memos produced novel contradictions and paradoxes that may impede employee sensemaking, that 2022/2023 memos used more passive and distancing language that disconnected the leader from the layoff decision and …

New Insights On Economic Theories Of The Family Firm, James J. Chrisman, Chevy-Hanqing Fang, Silvio Vismara, Zhenyu Wu

Business and Information Technology Faculty Research & Creative Works

Research attention to family firms has significantly increased in recent years, with a growing application of economic theories such as agency theory and resource-based theory to explain differences between family firms and nonfamily firms and heterogeneity among family firm populations. Despite this progress, the formulation of an economic theory of family business remains notably absent. Merely applying existing economic theories of the firm to the realm of family business is inadequate, as these general theories fail to incorporate the idiosyncratic aspects of family firms, such as the pursuit of socioemotional wealth. This paper seeks to advance economic theories specific to …

Exploring Hedonic And Utilitarian Aspects Through Perceived Warmth In Human-Designed Vs. Ai-Generated Fashion, Dooyoung Choi, Ha Kyung Lee

Educational Leadership & Workforce Development Faculty Publications

Among various ways in which artificial intelligence (AI) is used in the fashion industry, its utilization in design has sparked public discussion about the potential replacement of human designers by AI. Along with this critical question, it is imminent to examine how consumers would respond to designs by AI. The purpose of this study is to explore consumers’ perceptions toward a fashion product labeled as generated by an AI system, comparing it to the same product labeled as designed by a human designer. Specifically, drawing from existing literature, we examine if the design source affects consumers’ perceptions of a product …

[Review Of The Book Remote Work Revolution: Succeeding From Anywhere, By T. Neeley]., Taylor Rodriguez

Educational Leadership & Workforce Development Faculty Publications

A consistent takeaway from research conducted on effective learning and working environments is that communication is key. In remote work and learning environments, communication comes from many different platforms, can be asynchronous and synchronous, and requires specific techniques, trust, and technology to be effective. Every salient point from the Remote work revolution: Succeeding from anywhere (Neeley, 2021), comes down to one central concept: communication. Technology and engineering educators will find the foundational concepts of this book pivotal to help guide remote education, especially in laboratory settings; potentially increasing the reach of their programs.

Ai-Designed Clothing And Perceived Values: What Can Move Consumers' Minds With The Ai-Designed Clothing?, Dooyoung Choi, Ha Kyung Lee

STEMPS Faculty Publications

This study investigates the perceived values of AI-designed clothing (quality, emotion, ease) and their impact on willingness to pay (WTP) and word-of-mouth (WOM), with the moderating effect of gender differences. A total of 314 respondents completed the survey via MTurk. Participants watched a video clip demonstrating how an AI system creates various clothing designs by altering garment elements (e.g., style, size). After watching the video clip, they were asked to answer a series of questions about the AI-designed clothing and themselves. The collected data were analyzed using AMOS 26.0. Results showed that, for male and female consumers, the quality value …

The Association Between Vigour And Flexibility With Injury And Alertness During Shift Work, Lee Di Milia, Janet L. Barnes-Farrell, Rick A. Laguerre, Simon Folkard

Management Faculty Research and Publications

Models of shift work and health suggest that individual differences in circadian rhythm characteristics may moderate the relationship between night shift work and injury, but this argument has not been directly tested. In this study, we tested the efficacy of two circadian rhythm characteristics—vigour and flexibility—as moderators of the path between shift work and injury. In addition, we aimed to replicate the association between vigour, flexibility, and alertness by time of day, and the measurement properties of the Circadian Type Inventory. We recruited 401 healthcare workers from Australia and Great Britain. After controlling for confounding variables, the results showed that …

The Impact Of Work Setting, Autonomy, And Belonging On Employees’ Job Satisfaction, Sydney May Risen

Theses and Dissertations

Job satisfaction is one of the most researched outcomes within Industrial/Organizational psychology. The goal of this study was to examine whether the relationship between work setting, specifically, the amount of time an employee works in an office or from home, and job satisfaction is mediated by autonomy and belonging. One hundred and thirty employees were surveyed on Prolific regarding their job satisfaction, work setting, autonomy, and belonging. There were no significant hypothesized relationships between the variables within this study, although there were some significant correlations. This indicates that the relationships between work setting and job satisfaction are not mediated by …

Midwest Midlevel Professionals' Perspective On Their Entry-Level Experience: Supervisor Leadership And Its Effect On Employee Retention, Joseph Thomas

Theses and Dissertations

For the past three decades, new professionals have been leaving the student affairs field at alarming rates, with around 50% departing within five years of completing their master’s degrees. While numerous studies have explored the reasons behind this exodus, few have examined why the other 50% remain. Moreover, limited research has investigated how servant leadership impacts the retention of these professionals. This basic interpretive qualitative study aimed to understand how leadership’s focus on employee needs influences retention, using the lived experiences of eight mid-level student affairs professionals from large public institutions in the Midwest, each 5-7 years post-master’s degree. Thematic …

The Andrews University Mba Program In Vietnam: Assessing The Experience And The Career Advancement Of Its Students, Masazumi Mark Sugi

Dissertations

Problem

The demand to recruit highly skilled managers and laborers in Vietnam has encouraged educational institutions to upgrade the quality of their higher education programs and to evaluate their effectiveness. Andrew University’s MBA program did not have an assessment developed to evaluate the program’s effectiveness in Vietnam. It required an assessment of students’ experiences as a major predictor of evaluating how the Andrews University MBA program in Vietnam has impacted their career path and the extent to which it has benefited students.

Method

This study investigated the motivations, expectations, actual experiences, and career advancement opportunities of graduated students and current …

"Nothing In America Would Outrival Such A Spectacle": The Contested Histories Of Mount Rushmore, Western Tourism, And American Nationalism, Sophia Ciatti

Undergraduate Research Awards

Mount Rushmore, as one of the primary tourist destinations of both South Dakota and the American West in general, is an important source for an examination of American interstate tourism. However, while many scholars have discussed the physical history of Mount Rushmore, such as Gilbert Fite’s Mount Rushmore and Rex Allen Smith’s The Carving of Mount Rushmore, fewer historians have discussed the intellectual history behind the monument. The intentions imbued in the monument from its creators, and the impact the creation of Mount Rushmore had upon the American public are both worth analyzing because those two aspects ended up …

Netflix And Their Customer Acquisition Model, Maximus Drew

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

Strategic & Management Analysis Of Wendy's Co., Aryal M. Love

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

Letter From The Dean, Jeff Edwards

Discovery, The Student Journal of Dale Bumpers College of Agricultural, Food and Life Sciences

No abstract provided.

Discovery: The Student Journal Of Dale Bumpers College Of Agricultural, Food And Life Sciences - Volume 25 2024, Several Authors

Discovery, The Student Journal of Dale Bumpers College of Agricultural, Food and Life Sciences

No abstract provided.

Instructions For Authors, Discovery Editors

Discovery, The Student Journal of Dale Bumpers College of Agricultural, Food and Life Sciences

No abstract provided.

Professional Identity Development In Large Public Accounting Firms During Covid-19 And Beyond, Alexander J. Tighe

2024

Professional identity is formed by understanding the set of traits and behaviors that help define the social expectations of individuals within a profession. Acquiring these traits and acting in accordance with professional norms allows an individual to feel connected to their profession and other individuals within their field. In public accounting, professional identity is formed through the socialization process. This process teaches new hires the necessary technical knowledge to complete job tasks and behaviors that denote overall professionalism such as proper work attire or polite interactions with clients. The COVID-19 Pandemic radically changed social norms in the accounting profession by …

2024 Crummer Truist Portfolio Recommendations: Crummer Investment Management 25th Anniversary, Ryan Astley, Bryan Campbell, Bridget Collis, Axel Einarsson, Caroline Gastonguay, Valeria Hernandez-Grisanti, Jay Kineon, Catherine Mitchell, Charlie Putrino, Nicholas Rojas, David Scupholm, Trevor Siemon, Lily Thornewill, Cole Trinter, Nick Villamil, Brad Vincent, Zane Williams

Crummer Truist Portfolios

We would like to thank you for your service to the Crummer Truist Portfolio. Without your participation, Crummer students would not benefit from the unique insight you bring to managing an active portfolio. We have been fortunate to listen and learn from some outstanding guest speakers who have been generous with their time and expertise: J. Clay Singleton, Emeritus Professor, Crummer Graduate School of Business; Phillip Rich, Chief Investment Officer, United Community Bank; Rasha Mesharafa, Registered Associate, Wells Fargo Advisors; James Bishop, Director, Streamwise Capital; Matej Sušec, Research Analyst, DePrince, Race, and Zollo; Robert Zhang, Senior Research Analyst, DePrince, Race …

Minutes Are Worth The Minutes: Good Documentation Practices Improve Board Deliberations And Reduce Regulatory And Litigation Risk, Given As The 21st Annual Destefano Lecture, Leo E. Strine Jr.

Fordham Journal of Corporate & Financial Law

This Essay, originally the basis for the 21st Annual Albert A. DeStefano Lecture on Corporate, Securities & Financial Law given on February 27, 2024, at Fordham University School of Law, addresses the importance of good corporate minuting and board documentation practices. Using lessons from Delaware cases where the quality of these practices has determined the outcome of motions and cases, this Essay identifies effective and efficient practices to better address this decidedly not sexy, but unquestionably essential, corporate governance task. The recent Delaware cases underscore the importance of quality and timely documentation of board decision-making, the material benefits of doing …

Corporate Esg Falls Short: Systemic Anti-Black Racism And Inequality Should Be Addressed Through A Cumulative Integrated Approach, Ferrell L. Littlejohn

Fordham Journal of Corporate & Financial Law

In the 1896 case Plessy v. Ferguson, the Supreme Court endorsed the “separate but equal” doctrine, essentially codifying racial segregation. This decision guaranteed that systemic racism would permeate every fabric of society despite the abolition of slavery. Recently, many corporate institutions have pledged to actively support the fight against systemic racism through their environmental, social, and governance (“ESG”) initiatives. Corporate stakeholders have actively advocated for these initiatives, particularly in response to recent scholarship revealing the significant involvement of capitalist institutions in historical slavery, and the continued perpetuation of anti-Black racism. Nevertheless, such initiatives, for example, internal diversity, equity, and …

Factors Affecting The Adoption Of Information Technology In Medium And Small Enterprises: A Case Study In Mekong Delta, Vietnam, Thy-Lieu Nguyen-Thi, Duy-Dong Le, Kieu-Chinh Nguyen-Ly, Trung-Tien Nguyen, Mohamed Saleem Haja Nazmudeen

ASEAN Journal on Science and Technology for Development

This research endeavors to discern the determinants influencing the adoption of information technology in the management practices of small and medium-sized enterprises (SMEs) situ-ated within the Mekong Delta region of Vietnam. Leveraging the Unified Theory of Ac-ceptance and Use of Technology (UTAUT), PLS-SEM, and ANN models, this study ranks the pivotal factors that impact the decision to integrate information technology into SME management. The identified factors, in order of significance, encompass (1) Support from State Agencies, (2) Managerial Qualifications, (3) Competitive Landscape, (4) Enterprise Scale, and (5) Employee Qualifications. The investigation encompasses 496 SMEs across the Mekong Delta and evaluates …

Sticks And Stones: A Look At The Effects Of Microinsults And Stereotype Threat On Sustainable Career Outcomes, Shona G. Smith

Management Dissertations - Archive

Subtle forms of workplace discrimination have many adverse consequences for employees and organizations (Jones et al., 2016). Microinsults – a type of microaggression “characterized by interpersonal or environmental communications that convey stereotypes, rudeness, and insensitivity and that demean a person’s racial, gender, or sexual orientation, heritage, or identity” (Sue, 2010, p. 31) – are one form of subtle discrimination that may be pervasive in organizations. As they are invisible and ambiguous (Sue et al., 2008), some research suggests that microinsults are more taxing than overt forms of discrimination because they involve guesswork and sensemaking for the target to process their …

Binding Norms: Three Essays On The Effect Of Cultural Tightness On Consumer Behavior, Shashi Minchael

Marketing Dissertations - Archive

Cultural Tightness-Looseness reflects the variability in how different cultures mandate strict adherence to social norms and allow deviation from the social norms reflected in sanctions on norm violations. The three-essay dissertation aims to advance our understanding of the effect of cultural tightness (vs. looseness) and the resulting societal emphasis on norm adherence on consumer behavior. Specifically, the proposed research examines the effect of differences in societal norms regarding consumer frugality, system justification, and beliefs regarding the malleability of the world and individuals on consumer decision-making. In essay 1, I study the effect of societal norms regarding frugality in tight (vs. …

Essays On Corporate Finance And Real Estate, Hanh T. H. Phan

Finance and Real Estate Dissertations - Archive

My dissertation consists of two essays. In the first essay, I study the impact of local economic policy uncertainty on corporate cash holdings for U.S. firms. While national economic policy uncertainty has been examined extensively, few studies have investigated the impact of local economic policy uncertainty. I use the state-level economic policy uncertainty developed by Baker, Davis, and Levy (2022) to examine the impact of local economic policy uncertainty on firm cash holdings. Using a sample of publicly traded U.S. firms from 1985-2022, I find that firms increase their cash holdings in response to higher local economic policy uncertainty. The …

Three Essays On Mutual Fund Flows, Yi-Ju Chien

Finance and Real Estate Dissertations - Archive

This dissertation comprises three essays that investigate the impact of real interest rates (real rates) on mutual fund dynamics, specifically focusing on the performance-flow relationship (PFR) and the size-flow relationship (SFR).

Essay 1 explores how real rates influence the PFR in equity mutual funds. The hypothesis posits that higher real rates increase investors' opportunity costs, prompting them to prioritize past performance more heavily, thus intensifying the PFR. Empirical analysis supports this hypothesis, revealing that a 1% increase in real rates correlates with a 1.816% increase in PFR, holding other variables constant. This relationship is mixed across different subgroups of funds …