Business Commons^™

Day-Of-The-Week Anomaly: An Illusion Or A Reality? Evidence From Naira/Dollar Exchange Rates, Osarumwense Osabuohien-Irabor

CBN Journal of Applied Statistics (JAS)

This study examines the day-of-the-week effect in the Nigerian foreign exchange market (Naira against the US dollars), its volatility as well as the asymmetric effects, for the period of 12th May 2009 to 12th June, 2015. The empirical results of GARCH-t(1,1), EGARCH-t(1,1), GJR-GARCH-t(1,1), IGARCH and the OLS methodology shows that the detection of the day-of-the-week effect is influenced by the choice of the volatility model applied. Similarly, the highest or lowest volatility market day goes with the influence of these models. Thus this study clearly support the argument of Charles (2010), that, the days of the week anomalies lies on …

Testing The Fisher Hypothesis In The Presence Of Structural Breaks And Adaptive Inflationary Expectations: Evidence From Nigeria, Yakubu A. Bello, Babatunde S. Omotosho, Suleiman Karu, Satumari A. Stephen, Raymond O. Ogbuka, Balarabe F. Usman, Oluwaseun D. Mimiko

CBN Journal of Applied Statistics (JAS)

This paper tested for the validity of the Fisher hypothesis in Nigeria during the period 1970 – 2014. The Gregory and Hansen Co-integration test confirmed the existence of a long-run relationship between nominal interest rates and inflation, albeit with a structural break in October 2005. In addition, the obtained Fisher coefficient in the cointegrating relation was 0.08, implying a weak form of Fisher effect in the long-run. On the basis of these findings, we upheld a weak Fisher effect in the long-run and non-existence of Fisher effect in the short-run. This implied that short term nominal interest rate is a …

Nigeria’S Private Foreign Assets And Liabilities, 2014, International Investment Statistics Office (Iiso)

CBN Journal of Applied Statistics (JAS)

The survey of foreign assets and liabilities of enterprises in Nigeria was conducted in 2015 to determine the stock of foreign assets/liabilities of Nigerian enterprises as at end 2014. The survey collected relevant information from 740 enterprises while the analysis of survey data was done based on the recipient sectors as well as country of origin of the investments. Survey returns showed that total private foreign liabilities as at end-2014 was N15, 046.07 billion, down by 1.4 per cent from its level in 2013. Of this total, 99.8 per cent came in the form of foreign direct investments, while foreign …

Re-Introducing And Operationalizing Nigeria’S Flexible Exchange Rate Market, Godwin I. Emefiele

CBN Journal of Applied Statistics (JAS)

This is an address presented to relevant stakeholders and the general public unveiling of the framework for re-introduction of Managed Float Exchange Rate System on 15th June 2016. The address included the broad framework and guidelines of the Flexible Exchange Rate Inter-bank Market, which we alluded to at the end of Monetary Policy Committee (MPC) of 24th May 2016.

2016 June, Office Of Communications & Marketing, Morehead State University.

Morehead State Press Release Archive, 1961 to the Present

Press releases for June of 2016.

The Adoption And Use Of The Hirschman–Herfindahl Index In Nonprofit Research: Does Revenue Diversification Measurement Matter?, Grace L. Chikoto, Qianhua Ling, Daniel G. Neely

Accounting Faculty Research and Publications

Since its introduction by Tuckman and Chang, the Hirschman–Herfindahl Index (HHI) has been widely adopted into the nonprofit literature as a precise measure of revenue concentration. This widespread adoption has been characterized by diverse composition, with the HHI’s calculation being largely determined by the nature of the available data and the degree to which it contained disaggregated measures of revenue. Using the NCCS 990 Digitized Data, we perform an acid test on whether different HHI measures yield significantly different results. Four measures of revenue concentration—an aggregated measure based on three revenue streams, an aggregated measure separating government grants from other …

The Business Case For Hiring A Veteran: Beyond The Clichés, Institute For Veterans And Military Families At Syracuse University

Institute for Veterans and Military Families

This report details the results of a comprehensive review of academic literature from the fields of business, psychology, sociology, and organizational behavior positioned to illustrate the foundational elements around which employers can formulate a research-informed logic for recruiting and developing military veterans in the civilian workforce. The business case is based on 10 research-informed propositions on the value of a veteran in a competitive business environment.

Key Findings: 2016 Atrs Global Airport Performance Benchmarking, Chunyan Yu

Publications

The ATRS Global Airport Benchmarking Project measures and compares the performance of several important aspects of airport operations: Productivity and efficiency, unit costs and cost competitiveness, financial results and airport charges. The report also examines the relationships between various performance measures and airport characteristics as well as management strategies in order to provide a better understanding of observed differences in airport performance. This report includes 205 airports and 24 airport groups of various sizes and ownership forms in Asia Pacific, Europe and North America. This presentation highlights key findings on efficiency and cost.

Government Policies And Micro Lending In Emerging Markets, Nicholas Lash, Bala Batavia

School of Business: Faculty Publications and Other Works

Although microfinance institutions have expanded rapidly since their inception in 1983, their growth has varied substantially among countries. This study examines the impact of government expenditures, taxes and regulations on the volume of microcredit for 92 emerging market countries for the period 2000-2011. The Index of Economic Freedom data is used as a proxy for government intervention while microcredit is represented alternatively by either the Gross Loan Portfolio Per-Capita or Penetration Index variables. While excessive government intervention could potentially encourage more lending in the informal microfinance markets, our findings suggest that, for both credit variables, the net impact is to …

The Digital Workforce And The Workplace Of The Future, Amy Colbert, Nick Yee, Gerard George

Research Collection Lee Kong Chian School Of Business

The authors reflect on ways increased prevalence of technology and digital natives entering the workplace influence how work is approached. They talk about competencies of the digital workforce and suggests both digital natives and digital immigrants could have the skills needed to utilize technology for manipulating data, problem solving, and new product creation. They comment on interpersonal relating and identity development in digital work forces, and the utilization of technology at work.

The Impact Of The Sarbanes-Oxley Act On Clients’ Audit Opinion Shopping Behavior, Jong-Hag Choi, Heesun Chung, Catherine Heyjung Sonu, Yoonseok Zang

Research Collection School Of Accountancy

This study investigates whether the tendency for audit clients to engage in opinion shopping becomes weaker after the enforcement of the Sarbanes-Oxley Act (SOX). While Lennox (2000) provides evidence that U.K. firms successfully engage in opinion shopping, there is limited evidence on the mitigating effect of SOX on opinion shopping. Using observations collected from the period before and after the enforcement of SOX (year 2001, 2004 and 2005), we find that, for our sample period, firms are likely to switch (retain) their incumbent auditors when the likelihood of receiving a going concern opinion is lower (higher) from a successor auditor, …

Singapore's Vision Of A Smart Nation, See Liang Foo, Gary Pan

Research Collection School Of Accountancy

With a population of 5.4 million and land area of 718 square kilometres, 94 percent of Singapore’s population live in high-rise apartments, of which, 82 percent dwell in public housing. As an ultra-dense city-state, effective and innovative urban development is a social and economic imperative intricately intertwined with Singapore’s competitiveness and quality of life. Harnessing information and communications technology (ICT) is not only essential to achieving this, but also serves as a template for answering some of the global challenges faced by urban centres around the world–particularly in regard to economic development, social cohesion, better city administration and infrastructure management.

Public Relations Practitioners’ Perceptions Of The Use Of Crisis Response Strategies In China, Yang Hu, Augustine Pang

Research Collection Lee Kong Chian School Of Business

This study seeks to solicit Chinese PR practitioners’ views on the veracity of identified indigenous crisis response strategies (CRSs) and examine the underpinning socio-contextual factors that contribute to the employment of these strategies. Through 20 interviews, the authors found that political power, cultural backgrounds, media nature, public idiosyncrasies, and companies’ problematic status contributed to the use of indigenous strategies of “Barnacle”, “Third-party endorsement” and “Setting up new topics”.

Tapping The Power Of Local Knowledge: A Local-Global Interactive Perspective, Shenxue Li, Mark Easterby-Smith, Majorie A. Lyles, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

Existing theories of international business and strategy do not fully explain how local knowledge disadvantage faced by foreign investors can be mitigated. We conducted an in-depth qualitative study into four MNCs to investigate the micro-processes of how they generated value from their dispersed sources of local knowledge in China. The results suggest an interactive model: that MNCs employed management processes encompassing three strategically interconnected efforts—global knowledge penetration, local-global knowledge blending, and local-global knowledge integration. The model highlights the interplay between global and local knowledge and challenges extant research that solely focuses on the transfer of either home-based or local knowledge.

Macro Disagreement And The Cross-Section Of Stock Returns, Frank Weikai Li

Research Collection Lee Kong Chian School Of Business

This paper examines the effects of macro-level disagreement on the cross-section of stock returns. Using forecast dispersion measure from Survey of Professional Forecasters database, I find that when forecast dispersion on macroeconomic factor is high, stocks that have high loadings on that factor earn lower future returns relative to stocks with low loadings and vice versa. This negative relationship between risk premium of macro-factors and macro-level disagreement is robust and exists for a large set of macroeconomic risk factors. These findings are consistent with the model of Hong and Sraer (2015), where high beta stocks are more prone to speculative …

Collaboration Imprint For Entrepreneurs In Innovative Projects, Terence P. C. Fan, Xuesong Geng

Research Collection Lee Kong Chian School Of Business

This paper explores how entrepreneurs learn to improve performance in a series of innovative projects that involve more complexity than those repetitive tasks. We propose that collaborating with a specific set of partners can generate a characteristic creative mood and routine, leaving a distinctive impact on the performance of future project outcomes. Over multiple innovative endeavors, collaborating with different sets of partners helps a focal entrepreneur explore and experiment with different facets of his or her creativity, achieving a variety of outcomes. We propose to test the lasting impact of collaboration using the commercial performance of early software applications (‘apps’) …

Collaboration Imprint For Entrepreneurs In Innovative Projects, Terence P. C. Fan, Xuesong Geng

Research Collection Lee Kong Chian School Of Business

This paper explores how entrepreneurs learn to improve performance in a series of innovative projects that involve more complexity than those repetitive tasks. We propose that collaborating with a specific set of partners can generate a characteristic creative mood and routine, leaving a distinctive impact on the performance of future project outcomes. Over multiple innovative endeavors, collaborating with different sets of partners helps a focal entrepreneur explore and experiment with different facets of his or her creativity, achieving a variety of outcomes. We propose to test the lasting impact of collaboration using the commercial performance of early software applications (‘apps’) …

Cross-Cultural Differences In The Manifestation Of Emotional States And In The Perception Of Emotional Intelligence Among Masters Students In Kazakhstan And Spain, Olga Kolyukh

Level 3

In this research, I have identified similarities and cross-cultural differences of emotions, emotional states and perception of emotional intelligence among Masters students in Kazakhstan and Spain. Research tools used were a standardised psychological colour choice test designed by Luscher and modified by Sobchik, combined with the well-validated Spanish shorter version of the Trait Meta-Mood Scale (TMMS) (Femandez – Berrocal, Extremera, & Ramos, 2004). The research was implemented with a sample of Masters students (N = 100) from Pavlodar State University, Kazakhstan, and from the University of Granada, Spain. Results showed similarities with regard to friendliness, trust in others, discomfort, emotional …

Developing Appropriate Educational Modules Aimed At Industry : An Example From Surveying At Masters Level, Audrey Martin

Level 3

This paper describes the process from inception to completion of developing academic modules appropriate for upgrading survey professionals engaged in the public sector. It focuses on one such module continuing professional development module in ‘Gravity and Height’ for National Mapping, developed by the Dublin Institute of Technology Spatial Information Sciences Group for the National Mapping Agency, Ordnance Survey Ireland (OSi) and staff from similar organisations.

2016-06-00 Concerns, Morehead State University. Staff Congress.

Staff Congress Records

Staff Congress concerns for June of 2016.

Key Ingredients For School Food Systems: An Evaluation Of The Orfalea Foundation’S School Food Initiative, Holly Carmichael Djang, Barbara Andersen, Tatiana Masters, Jan Vanslyke, Blair Beadnell

The Foundation Review

In 2007, the Orfalea Foundation launched a nine-year strategic effort aimed at empowering public school districts in California’s Santa Barbara County. The purpose was to implement food-service operations that offered nourishing meals and to create a culture that prioritized the health and wellness of children and families.

The initiative, which involved 84 schools and more than 50,000 students, assessed the capacity of the county’s school food services, including existing skill levels and equipment needs. Striving to tailor programming to specific needs, the foundation emphasized stakeholder involvement throughout the process.

The foundation took a number of steps to understand the value …

Developing A Framework For Grant Evaluation: Integrating Accountability And Learning, Shelley Scherer

The Foundation Review

Despite broad consensus among foundations on the value of capturing grant outcomes, there is no consensus on what to evaluate and how to define success, which makes it difficult for staff and grantees to navigate and apply multiple interpretations of evaluation “best practices.”

This article presents three questions designed to help foundations develop a framework for grant evaluation that reflects their beliefs about accountability and learning, balances evaluation costs and benefits, acknowledges the diversity of grants within the foundation’s portfolio, and allows their grantees to understand the foundation’s expectations for evaluation reporting.

A key takeaway from this article, drawn from …

Enhancing Foundation Capacity: The Role Of The Senior Leadership Team, Melissa A. Berman

The Foundation Review

This article examines the issue of foundation organization design and assesses how foundation leaders might think about their organizations as institutions.

Noting that any organization structure inhabited by human beings creates silos and territorial issues, foundation leaders are increasingly using two primary mechanisms to minimize these artificial barriers and maximize collaboration: enhanced headquarters functions to help integrate across the organization, and senior leadership teams.

This article reviews the structure, roles, responsibilities, and value-add of senior leadership teams at 19 foundations. The senior leadership team plays a crucial role in foundations, functioning as an advisory group to the president and chief …

Editorial, Teri Behrens

The Foundation Review

No abstract provided.

The Art And Science Of Place-Based Philanthropy: Themes From A National Convening, Giannina Fehler-Cabral, Jennifer James, Hallie Preskill, Meg Long

The Foundation Review

This article shares insights and implications generated at a convening titled Is This a Better Place? The Art and Science of Place Evaluation. Participants included funders, evaluators, and community partners who came to discuss and share effective learning practices and the role of evaluation in place-based work.

Place-based work requires a long-term investment in collaborative partnerships to create, nurture, and sustain local and systemic changes. In order to support this complex work, partners have to incorporate approaches that are nimble, iterative, and responsive to the changing needs of a “place” over an initiative’s life span.

The convening produced a number …

Building A Field: Blue Shield Of California Foundation's Strong Field Project Leaves A Legacy And Valuable Lessons, Hanh Cao Yu, Jennifer Henderson-Frakes, Lucia Corral Peña

The Foundation Review

Relatively few comprehensive evaluations have assessed the principles, elements, and impacts of philanthropic organizations’ field-building endeavors. To help fill this gap, this article shares the results of a five-year evaluation of a large-scale field-building initiative: Blue Shield of California Foundation’s Strong Field Project.

The project’s goal was to strengthen the domestic violence field by equipping it with a critical mass of diverse individuals and organizations to lead a stronger movement to end domestic violence in California. Its approach aimed to strengthen field leadership and organizations, and to create vibrant collaborative networks.

Evaluation data show that the project achieved much of …

Executive Summaries

The Foundation Review

No abstract provided.

Appendix - Program Officer Practice Profile - Using Implementation Science To Translate Foundation Strategy, Allison Metz, Douglas Easterling

The Foundation Review

APPENDIX Program Officer Practice Profile

Using Implementation Science To Translate Foundation Strategy, Allison Metz, Douglas Easterling

The Foundation Review

New strategies sometimes require foundations to shift their staffing, organizational structures, administrative processes, and, possibly, their culture. The field of implementation science offers guidance to foundations as they effectively implement strategies that depart from prevailing practice.

This article focuses on two specific tools from implementation science: the practice profile and the Implementation Drivers Assessment. The practice profile answers the question, "What does the strategy require of particular foundation staff?" The implementation drivers analysis explores the broader question, "What does the strategy require in the way of organizational change within the foundation?”.

These two tools were used by the Kate B. …

Critical Team-Building Tools In Philanthropy, Ali Webb, Michael F. Bell

The Foundation Review

Using the experience of a team at a large, U.S.-based foundation over a four-year period, this article examines four essential tools for cultivating high-performing teams in the philanthropic sector.

The tools are giving and receiving feedback, the art of appreciations, organizing meetings to produce accountability, and assessing team communication styles, all applied with a racial equity lens. Use of these tools resulted in a more cohesive team that performed well when buffeted by changing priorities and substantial global problems.

The tools are likely applicable in every sector. But when used by foundations where large-scale social issues are the crux of …