Finance and Financial Management Commons^™

Ua37/29 Gary Ransdell - Federal Reserve Board - Monetary Policy Hearing, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's answers at the House Financial Services Monetary Policy Hearing.

Ua37/29 Gary Ransdell - Federal Reserve Board - Chairman Bernanke’S Semiannual Monetary Policy Report, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's Semiannual Monetary Policy Report.

Investor Knowledge And Investment Barriers., Steven Doman

Student Works (2010-2019)

The world of investing in the various products related to the stock and bond markets is confusing for many people. This is a problem since financial investments often represent a large portion of an individual’s personal assets. As regulators begin to search for answers about what caused the economic crisis of 2008-2009 and try to pass regulations that will prevent it from happening again, investors will continue to look to the products of investment firms to help accomplish their financial goals. Unfortunately for investors, many will continue to choose investments based on very limited personal knowledge. Investment firms will in …

Forecasting Philippine Monthly Inflation Using Tramo/Seats, Cesar C. Rufino

DLSU Business & Economics Review

The study aims to explore the feasibility of adopting for inflation forecasting a sophisticated expert system normally used in routine outlier detection and deseasonalization of time series. Known as TRAMO/SEATS expert system, this twin program is a fully automatic procedure that extracts the trend-cycle, seasonal, irregular and certain transitory components of high frequency time series via the so-called ARIMA-model-based method. The results of the study reveal the feasibility of the use of the technique for routine inflation forecasting. The automatic model building capability of TRAMO/SEATS is exploited to arrive at an ex-ante model that has the ability to generate optimal …

Values Of Females And Males In The East And West: Are They Similar Or Different?, Arnel Onesimo O. Uy, Edward F. Murphy, Regina A. Greenwood

DLSU Business & Economics Review

Understanding whether cross-cultural values are similar or different has become more important in an increasingly global marketplace. Yet, few studies have explored cross-cultural sex-based value structures. This study examines the values of 5,134 male and female working adults in three Eastern nations (Japan, the Philippines, and Thailand) and three Western nations (United States, United Kingdom, and Iceland). For similarities, males and females more highly valued personal than social terminal values. For differences, males in the East more highly valued self-actualization/competence instrumental values. Females in both geographic groups placed higher importance on social terminal values than did males, supporting prior research.

Impact Of Hiked Prices Of Food And Basic Commodities On Poverty In Cambodia: Empirical Evidences From Cbms Five Villages, Try Sothearith, So Sovannarith

DLSU Business & Economics Review

The study on the impact of hiked prices of food and basic commodities on poverty is designed as a follow-up CBMS survey of 5 villages in a Northwest province of Cambodia. The hiked prices in Cambodia and in CBMS sites occurred when there were changes in demand and prices of petrol, food and other consumer goods at the international market. The rising prices have immediately resulted in food insecurity for many people and pushed small landholders into indebtedness and deteriorated the capacity of the poor to cope with any future shocks or crises. This requires a stronger social safety net …

Effects Of Rising Food And Oil Prices On Rural Households In Ghana: A Case Study Of Selected Communities In The Dangme West District Using The Cbms Approach, Felix A. Asante, Cynthia A. Tagoe, Alfred A. Boakye

DLSU Business & Economics Review

This study sought to examine the effects of rising food and oil prices on rural households in Ghana in relation to their food, access to healthcare and education, changes in their work situations, their financial management practices, and their recreational and leisure practices using three selected communities in the Dangme West district of the Greater Accra region – Dodowa, Ningo, and Prampram. A total of 300 households were interviewed. The households were divided concerning the issue of whether their standard of living was better, worse or had remained the same. In general, households that indicated they were worse off currently …

Analysis Of The Impact Of Changes In The Prices Of Rice And Fuel On Poverty In The Philippines, Celia M. Reyes, Alellie B. Sobrevinas, Joel Bancolita, Jeremy De Jesus

DLSU Business & Economics Review

This study aims to assess the impact of rising prices of rice and fuel on poverty in the Philippines. In particular, the variations in the potential effects among different group of households were analyzed using household level data. Results of the study confirm that the impact of increasing prices of rice and fuel vary across different groups of households depending on the sector of employment, level of urbanity, income group and geographical location. In fact, there are losers and gainers from the recent increases in the prices of rice and fuel. In response to higher prices, households adopted different coping …

Prospect Theory And The Financial Markets: A Review, Paulo Jose M. Mutuc

DLSU Business & Economics Review

The Prospect Theory as proposed by Kahneman and Tversky (1979) has emerged as a widely accepted theory of decision-making, thanks largely to the persistence of observed anomalies in the trading of financial products – specifically, the existence of an unusually large premium on equities, and the tendency to hold on to losing investments (disposition effect). Questions about the true nature and extent of reference-dependent loss aversion as manifested by these phenomena, however, remain. In particular, for countries like the Philippines with relatively shallow capital markets, there is a need to reconcile financial education and advice with the reality of systematically …

The Context Of Cultural Intelligence – A Book Review Of David Livermore’S Leading With Cultural Intelligence: The New Secret To Success, Emiliano T. Hudtohan

DLSU Business & Economics Review

Livermore’s contribution to global leadership is his pioneering work on cultural intelligence (CQ), a new addition to a growing number of multiple formulations of human intelligences and quotients. By addressing culture as a key factor of leadership in a global context, he now provides a neutral perspective on culture for corporate leaders. This perspective is aligned with the growing trend of understanding other cultures and civilizations with empathy. Leading with Cultural Intelligence: The New Secret to Success may yet facilitate the implementation of global hypernorms proposed in integrative social contract theory and facilitate compliance to global standards of codes of …

Determinants Of Foreign Direct Investment In Services Sector Of Pakistan: An Econometrics Approach, Muhammad Zahid Awan, Khair Uz Zaman, Bakhtiar Khan

Business Review

This study examines the key determinants of FDI inflows in Services sector of Pakistan, using time series data (quarterly) for the period of 1996Q1-2008Q4. To check the stationarity of the data, ADF test has been applied. Co-integration and Error Correction Model (ECM) is used for estimation of the data. This study found that Gross Domestic Fixed Capital formation (GDFCF), Inflation Rate(INF), Current Account Balance(CAB), Exchange Rate (ER), and Per Capita Income (PC) are main factors of FDI inflows in services sector of Pakistan. This study reveals that GDFCF, INF and PC are found statistically significant with positive signs. CAB and …

Monetary Policy Essay, Dan Brocklehurst

Academic Symposium of Undergraduate Scholarship

No abstract provided.

Ua37/29 Gary Ransdell - Federal Reserve Board - Final Guidance On Incentive Compensation, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board announcing the final guidance on incentive compensation issued by the Federal Reserve, OCC, OTS and FDIC.

Ua37/29 Gary Ransdell - Federal Reserve Board - Ben Bernanke On Squam Lake Report, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's speech regarding the Squam Lake Report: Fixing the Financial System.

Ua37/29 Gary Ransdell - Federal Reserve Board - Ben Bernanke On The State Of The Economy, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's testimony before the House Budget Committee regarding the state of the economy.

A Comparison Of Costs And Returns For Organic And Conventional Cabernet Sauvignon Grape Production In San Luis Obispo County, Amanda N. Johansen

Agribusiness

This study examined the differences in costs and profitability for established conventional and organic Cabernet Sauvignon vineyards in the Edna Valley region of San Luis Obispo County, California. The study used a partial budgeting approach to compare cost and profitability for established vineyards for 2009, and thus ignored transition costs. Data were obtained from UC Davis cost studies for organic and conventional grape production in other regions of California in previous years. Adjustments made to these costs to account for changes in input use, input costs and grape prices in San Luis Obispo County during the 2009 growing season.

The …

Naira Convertibility: The Journey So Far, Moses K. Tule

Bullion

This paper examines the path to Naira Convertibility, the Journey so far. lt avers that convertibility is pursued by countries either as an economic management approach or as a tool for achieving higher reckoning on the global economic stage. Consequently, the examples of Argentina, Chile, Peru, Brazil, etc could fall in the first category while the Russian Rubble push could qualify for the second group. Nigeria's efforts at Naira convertibility would fall. The paper suggested that Nigeria should initiate a more realistic Naira convertibility programme through trade guarantees where it insists that imports from Nigeria from member ECOWAS members would …

An Overview Of Financial Sector Reforms And Intermediation In Nigeria, George Okorie, Uche J. Uwaleke

Bullion

_{Financial systems all over the world play very important roles in the development and growth of the economy. However, the effectiveness and efficiency of the system as well as its scope and capacity varies quite considerably among economies. This is partly because of the varied levels of ,development. More developed financial systems tend to be associated with the more developed economies. This paper advocates the speedy adoption of international financial reporting standard for all Nigerian banks (currently in the pipeline). This reform, while by no means a cure-all for problems of bank transparency, would nonetheless be a significant step forward, …}

Islamic Banking In Nigeria: Issues And Prospects, Ismaila S. Abdullahi

Bullion

This paper analyzes the challenging issues and highlight the prospects of Islamic banking in Nigeria. Following this introduction is section two which discusses the evolution of Islamic banking including the basic principles as well as the products/services offered by the system. Section three reviews Islamic banking practices in Nigeria. Section four analyzes the challenging issues and highlights the prospects of practicing Islamic banking in Nigeria. Section five concludes the paper and proffers policy recommendations.

Firm Value And The Tax Benefits Of Debt : A Study On Public Listed Company In Malaysia., Izam Syaharadzi Ahmad Sofian

Student Works (2010-2019)

This study has three main objectives. First, to empirically defines the relationship between firm value and debt of Public Listed Company in Malaysia once endogeneity of contemporaneous debt is corrected. Secondly the study looks into the possibility impact of alternative theories such as Free Cash Flow and Debt Signaling Hypotheses to the relationship between firm value and debt. Finally, it examines the influence of managerial ownership towards firm value and how it affects the benefits of debts. This study uses interest expense scaled by total assets as proxy of debt. The relationship between firm value and debt is statistically tested …

Macroeconomics Stress Testing On Malaysia Commercial Banks' Credit Portfolios., Foo Chii Shia

Student Works (2010-2019)

In the research paper, quarterly data on Non-performing Loan (NPL) for commercial banks in Malaysia over the time period of quarter 1, 1998 to quarter 4, 2009 together with 5 macroeconomic indicators i.e. Gross Domestic Product (GDP), Consumer Price Index (CPI), FTSE Bursa Malaysia KLCI (KLCI), Unemployment rate and House Property Index are collected to form a credit risk model. The estimated model is employed to analyse banking credit risks conditional on current macroeconomic conditions. Stepwise multiple regression method has been used which to select the useful subsets of variables and to evaluate the order of importance of variables. Furthermore, …

Explaining The Saving-Investment Relationship With Threshold Effects, Unro Lee

Eberhardt School of Business Faculty Articles

There have been many attempts to explain the unreasonably high correlation between domestic saving and investment rates. The threshold testing procedure developed by Hansen (1999) provides a framework for testing the effects of key variables relating to capital mobility in conjunction with the saving- investment relationship. Ho (2003) first applied this method to the saving-investment puzzle controlling for thresholds in country size. Extending this model, this paper reports a number of significant thresholds effects for country- size, trade and financial openness measures, age dependency ratios and trade balances. After controlling for threshold effects the relationship between savings and investment is …

Ua37/29 Gary Ransdell - Federal Reserve Board - Central Bank Independence, Transparency & Accountability, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of speech delivered by Ben Bernanke at the 2010 Institute for Monetary & Economic Studies Conference.

Forex Market Behaviour : Application Of High Frequency Data., Tan Heng Kiat

Student Works (2010-2019)

The huge and high frequency trading in foreign exchange market creates the need for an analytical method that can provide a view on the volatility. Traditional methods such as GARCH are proven to have limitations when applied to high frequency data, such as those generated in foreign exchange market.In this thesis, wavelet method is applied to high frequency data of EURO/USD, GBP/USD and YEN/USD currency pairs and of one minute resolution. The period of this behavioral study is from one hour before 1pm GMT to one hour after 1pm GMT for every Mondays from June 2008 to Dec 2008. The …

Non-Profit Organizations In A Down Economy: The Financial Performance Of Higher Education Institutions In The New England Area, Yuanjun Li

Honors Projects in Finance

An economic recession affects an entire economy, including the non-profit sector. The impact could result from changes in government support, a decrease in donations, investment income, service fees or a combination. Many private universities and colleges, which rely on tuition and endowment, have been affected by a dip in enrollments, while their endowments shrink because of the recession and declining stock values. This study will examine how an economic recession can affect non-profit organizations, focusing on private, four-year higher education institutions in New England. Different types and sizes of schools will be affected differently. Since the large, well-known schools have …

Economic Thinking And Risk Attitudes: An Empirical Study, Peter Slepcevic-Zach, Ph.D., Thomas Koeppel

International Journal for Business Education

In the light of the current economic crisis, which had its roots in high risk dealings in the international financial markets, the question how economically minded students are and what propensity towards risk they have, are essential to improving their financial literacy. In a broad survey including economic and non-economic schools 649 students aged 14 and 18 were questioned. In this paper results are presented and implications for classroom teaching and curricular development are derived.

A Case Study On The Credit Guarantee Scheme., Mohd Rizal Zubair

Student Works (2010-2019)

A brief description of Bank Perusahaan Kecil dan Sederhana Malaysia Berhad (SME Bank) and Credit Guarantee Scheme (CGS) Bank Perusahaan Kecil dan Sederhana Malaysia Berhad or better known as SME Bank was established more than 30 years ago as Bank Industri dan Infrastruktur Malaysia Berhad. SME Bank is a Development Financial Institution and 100% owned by Ministry of Finance Incorporated and Ministry of Industrial and International Trade acts as the Supervising Ministry. As a Government Agency, SME Bank has its mandated role to provide financing as well as financial and business advisory services to Malaysian SMEs residing within predefined categories …

The Impact Of Inflation Targeting Regime On The Relationship Between Stock Returns And Inflation: International Evidence, Unro Lee

Eberhardt School of Business Faculty Articles

Twenty six industrialized and emerging countries have adopted inflation targeting monetary policy since 1990 to combat persistently high inflation rate. This policy accords either the government and/or the central bank the authority to assign an explicit numerical target for inflation rate and implement an appropriate monetary policy to achieve its goal. This study investigates whether the adoption of inflation targeting strategy has affected the relationship between stock returns and inflation rate. Specifically, this study tests a hypothesis that, in an economy where inflation targeting has been adopted as a new monetary policy strategy, real stock returns should be sensitive to …

Ua37/29 Gary Ransdell - Federal Reserve Board - Federal Reserve's Role In Bank Supervision, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of testimony given by Ben Bernanke to the U.S. House of Representatives Committee on Financial Services.

Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms, A. Joseph Warburton

College of Law - Faculty Scholarship

This paper studies the effects of organizational form on managerial behavior and firm performance, from an empirical perspective. Managers of trusts are subject to stricter fiduciary responsibilities than managers of corporations. This paper examines the ramifications empirically, by exploiting data generated by a change in British regulations in the 1990s that allowed mutual funds to organize as either a trust or a corporation. I find evidence that trust law is effective in curtailing opportunistic behavior, as trust managers charge significantly lower fees than their observationally equivalent corporate counterparts. Trust managers also incur lower risk. However, evidence suggests that trust managers …