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2015

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Articles 481 - 510 of 681

Full-Text Articles in Business Administration, Management, and Operations

Manufacturing Organizations During Sub-Acute Crises: An Examination Of Critical Interactions In Five Sub-Acute Crisis Cases, William A. Brake Jan 2015

Manufacturing Organizations During Sub-Acute Crises: An Examination Of Critical Interactions In Five Sub-Acute Crisis Cases, William A. Brake

Student Scholarship

Manufacturing organizations face a steady barrage of sub-acute crises. Sudden, often surprising events that seriously threaten critical objectives provide an environment of steady disruption and uncertainty. Viewing organizations as Complex Adaptive Systems (CAS), this qualitative study collects and analyses 29 interviews across five unique cases of small manufacturers recalling a recent sub-acute crisis and their responses. Interviews were conducted with a senior manager, a small group of key managers and then each of the managers individually. Our comparative analysis found that positive and negative thoughts, feelings and actions were predominate across a wide variety of cultures and crises. We propose …


Remote Risk Assessment: A Case Study Using Scope Software, Maria Chiara Leva, Farzad Naghdali, Noral Balfe, Marko Gerbec, Micaela De Michela Jan 2015

Remote Risk Assessment: A Case Study Using Scope Software, Maria Chiara Leva, Farzad Naghdali, Noral Balfe, Marko Gerbec, Micaela De Michela

Articles

A thorough risk assessment requires input from experts in both safety analyses and the system under analysis. The cost of collecting together the required expertise for a short risk assessment may mean that for some small and medium enterprises (SME), the risk assessment is not deemed worthwhile or is completed using a generic form. This is despite the possible safety and performance benefits that can be identified via a thorough risk assessment. This paper presents a case study of a risk assessment on a rare periodic inspection & maintenance procedure planned by a LPG storage and distribution company in Slovenia. …


Time-Consistent Optimal Fiscal Policy Over The Business Cycle, Zhigang Feng Jan 2015

Time-Consistent Optimal Fiscal Policy Over The Business Cycle, Zhigang Feng

Economics Faculty Publications

This paper examines a dynamic stochastic economy with a benevolent government that cannot commit to its future policies. I consider equilibria that are timeconsistent and allow for history-dependent strategies. A new numerical algorithm is developed to solve for the set of equilibrium payoffs. For a baseline economy calibrated to the U.S. economy, the capital income tax with the highest social welfare is slightly procyclical, while the labor income tax is countercyclical. Compared with the data, this equilibrium provides a better account of the cyclical properties of U.S. tax policy than other solutions that abstract from history dependence. The welfare cost …


Rating Determinants Factored In E-Commerce Decision-Making, Juheng Zhang, M. Riaz Khan, Dachuan Shih Jan 2015

Rating Determinants Factored In E-Commerce Decision-Making, Juheng Zhang, M. Riaz Khan, Dachuan Shih

International Journal of Applied Management and Technology

The user-generated content (UGC) Web sites are gaining popularity for a wide range of media content, such as news, blogs, forums, and open-source software. Instead of relying on information on company Web sites, users benefit by reading reviews written on UGC Web sites by consumers. Online evaluations are usually informative and reduce the information asymmetry. This study examines the problem where UGC can be expedient for online hotel booking. It investigates the relationship between the ratings obtained from the TripAdvisor.com reviewers and the hotel price levels in the United States, outside the United States, and top 20 hotels and others, …


Leadership And Conflict Resolution On The Production Line, Patricia I. Fusch Ph.D., Gene E. Fusch Ph.D. Jan 2015

Leadership And Conflict Resolution On The Production Line, Patricia I. Fusch Ph.D., Gene E. Fusch Ph.D.

International Journal of Applied Management and Technology

Conflict between coworkers on the production line can be expensive as well as time consuming for companies. The business problem investigated in the study is the inability of supervisors on the production line to resolve conflict in nonunion companies, which, consequently, may lead to a drop in organizational productivity. Behaviors impacting shop floor productivity and performance were detected through miniethnographic and descriptive case study qualitative research methods through research of the production line leadership in a global company that manufactures kitchen and fireplace accessories. Results obtained from themes demonstrated that the production supervisor had some leader–member exchange leader characteristics including …


If You Can’T Take The Heat: Cultural Beliefs About Questionable Conduct, Stigma, Punishment, And Withdrawal Among Mexican Police Officers, Jorge A. Gonzalez, Lorena R. Pérez-Floriano Jan 2015

If You Can’T Take The Heat: Cultural Beliefs About Questionable Conduct, Stigma, Punishment, And Withdrawal Among Mexican Police Officers, Jorge A. Gonzalez, Lorena R. Pérez-Floriano

Management Faculty Publications

We introduce the concept of cultural beliefs about questionable conduct, and examine how these beliefs interact with stigma consciousness to influence punishment and two withdrawal behaviors: turnover and absenteeism. We used a sample of Mexican police officers in a border city and implemented a mixed method design, paying attention to the national, occupational, and organizational context of this setting. We conducted a qualitative phase to explore the prevalence and meaning of occupational stigma and four cultural beliefs about questionable conduct: greed, toughness, wariness, and savvy. The results of this phase helped us develop a context-relevant measure of cultural beliefs about …


When Demographic And Personality Diversity Are Both At Play: Effects On Team Performance And Implications For Diversity Management Practices, Mai P. Trinh Jan 2015

When Demographic And Personality Diversity Are Both At Play: Effects On Team Performance And Implications For Diversity Management Practices, Mai P. Trinh

Management Faculty Publications

This chapter reviews what we know about the effects of demographic diversity (age, sex, and ethnicity) and personality diversity (conscientiousness, openness to experience, extraversion, emotional stability, and agreeableness) in teams in organizations. It also outlines challenges to today's diversity management and Human Resource (HR) practices, such as the lack of definite conclusions from research results, the mismatch between team diversity research designs and organizations' needs, and the lack of research examining simultaneously different aspects of diversity. Drawing from analysis results of team data from 55 teams of volunteers from Shanghai, the author recommends that HR training and selection take specific …


Un Estudio Comparado Del Valor Económico Y Social De Dos Universidades Adventistas, Gus Gregorutti Jan 2015

Un Estudio Comparado Del Valor Económico Y Social De Dos Universidades Adventistas, Gus Gregorutti

Faculty Publications

This study seeks to understand the key factors that contribute tothe successful continuation of the food industries of two Adventistuniversities in Colombia and Peru. These factories have been contributingsocially and economically through employment opportunitiesfor students from lower social strata. The study gathered data froma series of interviews with managers of both factories. The resultsshowed that the success of continuity and contribution is relatedto efficient administrative relations between universities and factoriesand a culture of innovation that seeks to have the best humanresources to adapt to markets. Respondents also expressed someconcerns for the future performance of the current model of university-industry. The …


The Eco-Sustainable Initiative: A Case Study In And Evaluation Of Eco-Labeling, Chiara Dorigo Jan 2015

The Eco-Sustainable Initiative: A Case Study In And Evaluation Of Eco-Labeling, Chiara Dorigo

Pomona Senior Theses

This paper reviews the significance of eco-labeling as a green consumption practice, and more broadly as a form of everyday environmentalism. It uses a random sample of 50 eco-labelers from an online database to analyze the current eco-labeling landscape and evaluate the business model of an emerging eco-labeling startup called the Eco-Sustainable Initiative (ESI). Conclusions include recommendations for ESI before its launch, and implications of ESI’s merits and shortcomings for the eco-labeling landscape at large.


Responsible Accounting For Stakeholders, Jeffrey S. Harrison, Joyce Van Der Laan Smith Jan 2015

Responsible Accounting For Stakeholders, Jeffrey S. Harrison, Joyce Van Der Laan Smith

Management Faculty Publications

Through a critique of existing financial theory underlying current accounting practices, and reapplication of this theory to a broad group of stakeholders, this paper lays a normative foundation for a revised perspective on the responsibility of the public accounting profession. Specifically, we argue that the profession should embrace the development of standards for reporting information important to a broader group of stakeholders than just investors and creditors. The FASB has recently moved in the opposite direction. Nonetheless, an institution around accounting for stakeholders continues to grow, backed by a groundswell of support from many sources. Based on institutional theory, we …


Mitigation Of Preventable Medical Errors Via The Use Of Human Resources And Human Factors, Callender Creel Jan 2015

Mitigation Of Preventable Medical Errors Via The Use Of Human Resources And Human Factors, Callender Creel

Honors Theses

The purpose of this thesis is to discuss historical and current rates of preventable medical errors (PMEs), their causes, and methods used to reduce them. I will also provide recommendations that I believe can help reduce the number of injuries and deaths that result from them. Data and information used in this thesis were drawn from a variety of sources. While the large majority was sourced from articles in academic journals, government health reports, Federal Flight Administration documents, phone interviews, and personal experiences in the medical field also provided invaluable information. To summarize, there are two major types of preventable …


Two Essays Examining Organizational Performance, Stacey Alexis Gelsheimer Jan 2015

Two Essays Examining Organizational Performance, Stacey Alexis Gelsheimer

USF Tampa Graduate Theses and Dissertations

In highly competitive industries where firms aren’t protected by barriers to entry and consumers’ preferences are constantly changing, the willingness and ability to adapt and continually improve operations may be critical for continued success. However, the internal exchanges between employees and managers that may be an integral part of the development and implementation of new ideas are often not modeled or included in our standard economic theories. In this research I investigate whether a higher level of employee voice (or employee input) predicts higher levels of continual improvement, and whether this continual improvement predicts higher levels of firm performance. Additionally, …


A System Dynamics View Of The Acute Bed Blockage Problem In The Irish Healthcare System, Waleed Abo Hamad, Wael Rashwan, Amr Arisha Jan 2015

A System Dynamics View Of The Acute Bed Blockage Problem In The Irish Healthcare System, Waleed Abo Hamad, Wael Rashwan, Amr Arisha

Articles

Global population ageing is creating immense pressures on hospitals and other healthcare services, compromising their abilities to meet the growing demand from elderly patients. Current demand–supply gaps result in prolonged waiting times in emergency departments (EDs), and several studies have focused on improving ED performance. However, the overcrowding in EDs generally stems from delayed patient flows to inpatient wards – which are congested with inpatients waiting for beds in post-acute facilities. This problem of bed blocking in acute hospitals causes substantial cost burdens on hospitals. This study presents a system dynamics methodology to model the dynamic flow of elderly patients …


Analysis Of Market Demand And Quality Of Infant Toddler Care Programs In Missoula, Montana, Jennifer A. Keller Jan 2015

Analysis Of Market Demand And Quality Of Infant Toddler Care Programs In Missoula, Montana, Jennifer A. Keller

Undergraduate Theses, Professional Papers, and Capstone Artifacts

In order to test the hypothesis that there are not enough high quality infant toddler care programs in Missoula to meet the demand of the market, creating an opportunity for a local child care provider to open a high quality infant toddler program as part of the child care services that they offer, an observational study of the current infant toddler care programs in Missoula, Montana was conducted. Spirit at Play, a child care center in Missoula, Montana, is evaluating the current child care market in Missoula to see if, and how many, quality infant toddler programs are being offered …


The Interplay Among Software Volatility, Complexity And Development Outcomes: Evidence From Open Source Software, Jorge A. Colazo Jan 2015

The Interplay Among Software Volatility, Complexity And Development Outcomes: Evidence From Open Source Software, Jorge A. Colazo

School of Business Faculty Research

The study posits a mediating role of software complexity in the association between software volatility and different software development outcomes. Empirical tests using data from 326 open source software projects support such a partial mediating role of software complexity in the association between software volatility and development outcomes. Archival data is tested using an ordinary least squares mediated model. The paper uses productivity, defect count and development speed as dependent variables.


Strategies Utility Managers Used To Implement Renewable Energy Technologies In The Caribbean, Nneka Cori-Anne Archer Jan 2015

Strategies Utility Managers Used To Implement Renewable Energy Technologies In The Caribbean, Nneka Cori-Anne Archer

Walden Dissertations and Doctoral Studies

Government officials in the Caribbean are encouraging the production of electricity from renewable energy sources to reduce the impact of high electricity rates to customers due to region's dependency on imported fossil fuel. The purpose of this single-case study was to explore the strategies electric utility managers in the Caribbean used to implement renewable energy technologies. The diffusion of innovation theory served as the conceptual framework for the study. Three managers of an electric utility in the Caribbean, who had created strategies to implement renewable energy technologies, participated in face-to-face semistructured interviews. These managers provided in-depth information on approaches used …


Brazilian Women Entrepreneurs: Exploring Strategies For Building Sustainable Business Organizations, Maria Ana Church Jan 2015

Brazilian Women Entrepreneurs: Exploring Strategies For Building Sustainable Business Organizations, Maria Ana Church

Walden Dissertations and Doctoral Studies

Brazilians create an average of 1.2 million new registered enterprises annually, but some struggle to keep their business in operation. Thirty percent of the new ventures are unable to survive the first year, and 58% go out of business after the first 5 years. The goal of this phenomenological study was to explore the perceptions of Brazilian women entrepreneurs concerning the strategies needed to build sustainable business organizations in Brazil. The individual concepts of sustainable development, sustainability, business strategies, and business models served as the theoretical foundations for the study. Data were collected via in-depth interviews with 20 women entrepreneurs …


The Effect Of Nationality Differences On The Emotional Intelligence Of Leaders, Hossein Reza Nikoui Jan 2015

The Effect Of Nationality Differences On The Emotional Intelligence Of Leaders, Hossein Reza Nikoui

Walden Dissertations and Doctoral Studies

Previous studies related to manager effectiveness and organizational culture have determined that emotional intelligence (EI) is a critical predictor of intercultural adjustment and business success. However, few investigators have examined the relationship between EI and nationality differences. In today's globalized business environment, such understanding is crucial to the development of more effective leadership programs for international workers. This quantitative study explored the degrees to which the EI of organizational managers varied across nationalities. A theoretical framework, provided by several theories related to personality, leadership, and types of intelligence, created a lens through which to analyze study results. The Trait Emotional …


اثر ادراك قواعد الضريبة الاساسية على اجراءات التحاسب الضريبي (دراسة استطلاعية), صباح حسن مجبل, خضير مجيد علاوي Jan 2015

اثر ادراك قواعد الضريبة الاساسية على اجراءات التحاسب الضريبي (دراسة استطلاعية), صباح حسن مجبل, خضير مجيد علاوي

Muthanna Journal of Administrative and Economics Sciences

يهدف البحث الى بيان اهمية القواعد الاساسية للضريبة واثر ادراكها من قبل السلطة الضريبية في زيادة فاعلية الادارة الضريبية في عملية التحاسب الضريبي من خلال فرضية مفادها ان ضعف اجراءات التحاسب الضريبي ناتج عن انخفاض ادراك الادارة الضريبية للقواعد الاساسية للضريبة وتضمن البحث على جانب نظري وعملي وتم اعداد استبانه اعدت لهذا الغرض وبعد التحليل الاحصائي توصل الباحثان الى مجموعة من الاستنتاجات والتوصيات.


انخفاض اسعار النفط و الاجراءات اللازمة لتقليل تأثيرها على الموازنة العامة في العراق, حيدر كاظم مهدي Jan 2015

انخفاض اسعار النفط و الاجراءات اللازمة لتقليل تأثيرها على الموازنة العامة في العراق, حيدر كاظم مهدي

Muthanna Journal of Administrative and Economics Sciences

المستخلص :يشكل مورد النفط احدى الموارد المهمة و الاساسية في تمويل موازنة الدولة و ان اي خلل يصيب هذا المورد سوف يلقي بـتأثيراته على الموازنة , و بالتالي اصبحت الموازنة العامة مرتبطة بأسعار و حجم انتاج النفط الخام , و قد لعبت عوامل عدة في احداث تغيرات في اسعار النفط منها عوامل المضاربة و العوامل السياسية و الاقتصادية , فقد وصل سعر برميل النفط مع بداية عام 2015 حوالي 50 دولار للبرميل مما شكل عبىء كبير على الموازنة العامة على اعتبار ان الايرادات المتحققة من تصدير النفط هي المحرك الاساسي لعجلة التنمية و ادارة كل قطاعات الدولة و قد تناول …


The Reality Of Human Development In Iraq And Ways Of Treatment With An Indication Of Service Of Reality Environmental And, Haider Talib Musa Jan 2015

The Reality Of Human Development In Iraq And Ways Of Treatment With An Indication Of Service Of Reality Environmental And, Haider Talib Musa

Muthanna Journal of Administrative and Economics Sciences

The human development the subject at the present time is one of the most important topics of concern to the community in any part of the world delayed human development efforts and lack of interest in singling does not affect them, but it also affects the march of an entire people and restrain progress, pushing for the dependence of policies and programs that are correct and rational to draw conclusions and recommendations Scientific efforts to promote and develop human development success of any society and its development depends basis primarily on the individual development of )healthy،educational subsistence(. interest in these …


اختبار اثر العلاقة بين توزيعات الارباح و القيمة السوقية للأسهم باستخدام بعض من ادوات التحليل المالي دراسة تطبيقية لعينة من الشركات المدرجة في سوق العراق للاوراق المالية للفترة من 2010-2014, هند ضياء عبد الرسول Jan 2015

اختبار اثر العلاقة بين توزيعات الارباح و القيمة السوقية للأسهم باستخدام بعض من ادوات التحليل المالي دراسة تطبيقية لعينة من الشركات المدرجة في سوق العراق للاوراق المالية للفترة من 2010-2014, هند ضياء عبد الرسول

Muthanna Journal of Administrative and Economics Sciences

يهدف البحث الى يفحص العلاقة بين توزيعات الارباح والقيمة السوقية للاسهم المدرجة في سوق العراق للاوراق المالية , ومدى تأثره بالقدرة الربحية والتدفق النقدي الحر والرافعة المالية . وقد تم فحص هذه العلاقة بأستخدام تحليل الانحدار المتعدد .تكونت عينة البحث من 42 شركة مساهمة مدرجة في سوق العراق للاوراق المالية موزعة على قطاعات المصارف والمالية والخدمات والصناعية خلال الفترة 2010-2014.اظهرت نتائج البحث وجود علاقة ذات دلالة احصائية بين الارباح الموزعة والقيمة السوقية للاسهم في القطاعات عينة البحث كما بينت نتائج البحث عدم وجود اثر للرافعة المالية على العلاقة بين الارباح الموزعة والقيمة السوقية للاسهم .


تأثير المزيج الترويجي للخدمات المصرفية في تحقيق رضا الزبون دراسة تحليلية لأراء عينة من الزبائن في بعض المصارف الاهلية في مدينة الديوانية, حيدر حمزه صالح Jan 2015

تأثير المزيج الترويجي للخدمات المصرفية في تحقيق رضا الزبون دراسة تحليلية لأراء عينة من الزبائن في بعض المصارف الاهلية في مدينة الديوانية, حيدر حمزه صالح

Muthanna Journal of Administrative and Economics Sciences

لقد تناول البحث الحالي احد العناصر الاساسية والحيوية في العمل التسويقي للمنظمات المصرفية من خلال استعراض احد الانشطة المهمة والمؤثرة في تحقيق اهدافها التسويقية والمتمثل بالمزيج الترويجي الذي يشتمل على خمسة متغيرات هي ( الاعلان، البيع الشخصي، تنشيط المبيعات، العلاقات العامة والنشر) وهدف البحث الى دراسة واقع المزيج الترويجي في المصارف الاهلية . واعتمد البحث جمع البيانات من عينة شملت (5) مصارف اهلية في مدينة الديوانية ، ولتحقيق هدف البحث قام الباحث بتوزيع استبانة عدت لهذا الغرض على مجتمع البحث المكون من الزبائن التابعة لهذه المصارف وشملت (78 ) زبون. وفي ضوء دلك جرى جمع و تحليل البيانات و اختيار …


Safety Culture Monitoring: A Management Approach For Assessing Nuclear Safety Culture Health Performance Utilizing Multiple-Criteria Decision Analysis, James Harold Warren Jr. Jan 2015

Safety Culture Monitoring: A Management Approach For Assessing Nuclear Safety Culture Health Performance Utilizing Multiple-Criteria Decision Analysis, James Harold Warren Jr.

Engineering Management & Systems Engineering Theses & Dissertations

Nuclear power plants are among the most technologically complex of all energy facilities. This complexity reflects the precision needed in design, maintenance and operations to harness the energy of the atom safely, reliably and economically. Nuclear energy thus requires consistent, high levels of organizational performance by the highly skilled professionals who operate and maintain nuclear power plants (Nuclear Energy Institute [NEI], 2014, p. 1).

A key element for achieving consistent, high levels of performance in a nuclear organization is its safety culture. Nuclear safety culture is for an organization what character and personality is for an individual: a feature that …


The Paradox Of Knowledge Creation In A High-Reliability Organization: A Case Study, Ivana Milosevic, A. Erin Bass, Gwendolyn Combs Jan 2015

The Paradox Of Knowledge Creation In A High-Reliability Organization: A Case Study, Ivana Milosevic, A. Erin Bass, Gwendolyn Combs

Department of Management: Faculty Publications

We employed an instrumental case study of a multisystem hydroelectric power producer, a high-reliability organization (HRO), to explore how new knowledge is created in a context in which errors may result in destruction, catastrophic consequences, and even loss of human life. The findings indicate that knowledge creation is multilevel, nested within three levels of paradox: paradox of knowing, paradox of practice, and paradox of organizing. The combination of the lack of opportunity for errors with the dynamism of the HRO context necessitates that individuals work through multiple paradoxes to generate and formalize new knowledge. The findings contribute to the literature …


Can Resilience Be Developed At Work? A Meta-Analytic Review Of Resilience-Building Programme Effectiveness, Adam J. Vanhove, Mitchel Herian, Alycia L. U. Perez, Peter D. Harms, Paul B. Lester Jan 2015

Can Resilience Be Developed At Work? A Meta-Analytic Review Of Resilience-Building Programme Effectiveness, Adam J. Vanhove, Mitchel Herian, Alycia L. U. Perez, Peter D. Harms, Paul B. Lester

P. D. Harms Publications

Organizations have increasingly sought to adopt resilience-building programmes to prevent absenteeism, counterproductive work behaviour, and other stress-related issues. However, the effectiveness of these programmes remains unclear as a comprehensive review of existing primary evidence has not been undertaken. Using 42 independent samples across 37 studies, the present meta-analysis sought to address this limitation in the literature by summarizing the effectiveness of resilience-building programmes implemented in organizational contexts. Results demonstrated that the overall effect of such programmes was small (d = 0.21) and that programme effects diminish over time (dproximal = 0.26 vs. ddistal = 0.07). Alternatively, …


Mcgregor's Theory X/Y And Job Performance: A Multilevel, Multi-Source Analysis, Leanna Lawter, Richard J. Kopelman, David J. Prottas Jan 2015

Mcgregor's Theory X/Y And Job Performance: A Multilevel, Multi-Source Analysis, Leanna Lawter, Richard J. Kopelman, David J. Prottas

WCBT Faculty Publications

McGregor's Theory X/Y (1957; 1960/1985; 1966; 1967), one of the most famous theories of motivation and leadership, has had a profound effect on managerial thinking over the past fifty years. Yet the effect of X/Y attitudes on job performance has never been empirically demonstrated. The present research investigates whether X/Y attitudes and X/Y behaviors-examined as two distinct constructs-are related to job performance. Further, the present research uses a multilevel, multi-source design to examine via hierarchical linear modeling the performance effects of McGregor's (1957; 1960/1985; 1966; 1967) theorizing about managerial assumptions (and behaviors) at both individual and workgroup levels. As predicted, …


Examining The Impact Of Offshoring And Level Of Preparer Judgment On The Audit Review Process, Kristen Kelli Saunders Jan 2015

Examining The Impact Of Offshoring And Level Of Preparer Judgment On The Audit Review Process, Kristen Kelli Saunders

Theses and Dissertations

Offshoring audit tasks is becoming common among international accounting firms. Although tasks currently performed offshore require preparers to exercise little or no professional judgment, firms are poised to expand the volume and scope of procedures performed offshore. While critics argue that offshoring results in reduced audit quality, advocates maintain that offshored procedures are reviewed and supervised by U.S. auditors, and that offshoring may actually improve audit quality. However, little is known about how offshoring impacts reviewers and the review process. This study explores how offshoring interacts with varying levels of preparer judgment to influence reviewers’ judgments. Because firms plan to …


Three Essays In Banking: Corporate Governance, Internationalization, And Government Bailouts, Raluca A. Roman Jan 2015

Three Essays In Banking: Corporate Governance, Internationalization, And Government Bailouts, Raluca A. Roman

Theses and Dissertations

This dissertation extends a growing literature on banking and finance by investigating bank corporate governance, internationalization, and bailouts. The first essay conducts the first assessment of shareholder activism in banking and its effects on risk and performance. Activism can create value and be an effective monitoring mechanism for banks, but it may also be a destabilizing mechanism, as maximizing shareholder value may cause financial instability. We focus on the conflicts among bank shareholders, managers, and creditors (e.g., regulators, deposit insurers, taxpayers, depositors). We find activism may generally be a destabilizing force, increasing bank risk-taking, but creating market value for shareholders, …


Three Essays In Finance, Liying Wang Jan 2015

Three Essays In Finance, Liying Wang

Theses and Dissertations

This dissertation is composed of three essays on corporate credit markets and corpo- rate finance. The first essay examines the impact of unconventional monetary policies (UMPs), including Quantitative Easing (QE), Operation Twist (OT), and Forward Guidance (FG), on corporate credit markets. These policies were expected to reduce credit spreads by decreasing credit risk premium and/or liquidity premium, and to further lengthen borrowing maturity. During the crisis, Quantitative Easing (QE) 1 reduced these risk premia as expected. However, after the crisis, QE 2 and Oper- ation Twist announcements increased fears of a weaker economy and, consequently, widened credit spreads. In contrast, …