Finance and Financial Management Commons^™

Strategic Development Problems And Mechanism Improvement In Engineering Science, Peinan Li, Weimin Bao, Wei Yao

Bulletin of Chinese Academy of Sciences (Chinese Version)

Modern engineering embodies the characteristics of multi-disciplinary integration and is the engine for the development of basic science and engineering technology. Engineering science comes from engineering and serves engineering. Engineering science and natural science both belong to the category of basic research and are the basis of jointly supporting the development and progress of engineering technology. To this end, this paper reviews the development process of engineering science, and on the basis of fully grasping the and the connotation, development stage and modern characteristics of engineering science, draws on the experience and practices of major countries in the development of …

Origins Of Strategic Basic Research And International Practices, Ruhan A, Kejia Yang, Cong Wu, Xiaoxuan Li

Bulletin of Chinese Academy of Sciences (Chinese Version)

Strategic basic research is a novel concept evolves along with the historical development and understanding of what constitutes as basic research. It evolves from the interactions among different communities and their changing practices, the management and new demand from the government, the changing relationship between public and scientific community and the changes of funding structures for science and technology. This paper first reviews the historical development and understanding of basic research so that to investigate how has the concept of strategic basic research evolved, and then it summarizes the international practices of management and funding of basic research in the …

Connotation Analysis Of Original Basic Research And Implications For Original Exploratory Program Implemented By National Natural Science Foundation Of China, Jintao Bao, Yi Zhang, Yijie Peng, Yinghong Zhao, Hongguan Hao, Zhimin Zheng

Bulletin of Chinese Academy of Sciences (Chinese Version)

Original basic research is a key driving force for the development of science and technology, as well as the source of the new round of scientific and technological revolution and industrial transformation. To further encourage and support originality and innovation, the National Natural Science Foundation of China (NSFC) implemented the original exploratory program as one of its priorities for deepening reform. In this paper, the concept and characteristics of original basic research are analyzed, and the funding orientation of foreign major science funding agencies on original basic research projects is investigated. This study further discusses the connotation and positioning of …

Thoughts And Suggestions On Development Of Earth Sciences In China, Lihua Zhou, Xin Wang, Chengxiong Zhou, Quanyou Liu, Jianhua Si, Wang Zhang, Zhijun Jin

Bulletin of Chinese Academy of Sciences (Chinese Version)

Earth Sciences is a multi-disciplinary science, which takes the interaction of Earth's various spheres and their resources and environmental effects as the research object. As a comprehensive and systematic science that not only expands the frontier of human knowledge but also serves the social and economic development of human beings, Earth Sciences not only studies the past and reveals the evolution history of the Earth, but also faces the future and provides solutions for the sustainable development of human beings. Based on the analysis of the international development trends of Earth Sciences and the summary of the development status and …

Oral Presentations: Social Sciences I, Olivia Maurer, Kaden Grace, Ryan Wallace

Mississippi Undergraduate Honors Conference

Video provided above is of Olivia Maurer's presentation.

Video of Kaden Grace's presentation is available here.

Video of Ryan Wallace's presentation is available here.

Theorizing The Initial Response Of Countries In Bringing Covid-19 Pandemic Under Control: The Effect Of Change Readiness Of Countries, M. Mahdi Moeini Gharagozloo, Farinaz Sabz Ali Pour, Chen Chen, Mozhgan Moeini Gharagozloo

Engineering Management & Systems Engineering Faculty Publications

Pandemic crises can bring the biggest and deepest shocks to countries around the world. In the first quarter of 2020, a global pandemic named “COVID-19” spread all over the world and not only took so many lives and created so much fear but also brought a tremendous financial pain as a result of shutting down economies to fight with this unknown contagious virus. This paper examines how countries’ change readiness enables them to bring the spread of an international crisis under control. We propose that higher levels of change readiness would help countries to cope with risks and uncertainties generated …

Florida’S Courts System Funding After Article V Revision 7, Joseph Ernest Smith, Sr.

Walden Dissertations and Doctoral Studies

The state of Florida approached the topic of funding for the courts system from a policy equilibrium position. The process used to fund Florida’s courts system was changed in 2004 to promote an equitable system of funding. However, a gap in knowledge remains regarding whether this new funding scheme improved the financial health of the courts system. This quantitative study, which involved using the punctuated equilibrium theory (PET) as its theoretical framework, examined funding associated with counties before (1998–2003) and after (2005–2018) the 2004 implementation of Revision 7 to Article V of the Florida Constitution. Revision 7 was examined as …

The Gender Bias Burden On Business: Women's Access To Credit In Bahrain, Sandra J. Thiman

Mary Ann Bolton Undergraduate Research Award

Entrepreneurship is essential to virtually every economy; however, Bahraini women face many challenges accessing business development. In particular, a major constraint for these women is their access to capital support. In 2020, the government signed a law prohibiting gender-based discrimination in access to credit to help the issue; nonetheless, its effectiveness has yet to be systematically examined. Using data from several sources, I test whether the law significantly affected the gender gap in borrowing for business purposes while controlling for other variables. Importantly, I find that women’s labor force participation is a significant factor in reducing the borrowing gap between …

The Relationship Between Enterprise Risk Management And Cost Of Capital, Muhammad Kashif Shad, Fong-Woon Lai, Amjad Shamim, Michael Mcshane, Sheikh Muhammad Zahid

Finance Faculty Publications

This paper investigates the effect of enterprise risk management (ERM) implementation on the cost of capital (cost of debt, cost of equity, and weighted average cost of capital) for the oil and gas industry. The research is conducted using panel data analysis from 2008-2017 for 41 oil and gas companies publicly listed on the Bursa Malaysia. ERM implementation data is collected from company annual reports, while the cost of capital data is obtained from Thomson Reuters DataStream. The results indicate that an increase in the level of ERM implementation reduces the cost of capital, which we argue is one mechanism …

Climate Change And Sustainability In Asean Countries, David K. Ding, Sarah E. Beh

Research Collection Lee Kong Chian School Of Business

The ASEAN region is one of the most susceptible regions to climate change, with three of its countries—Myanmar, the Philippines, and Thailand—among those that have suffered the greatest fatalities and economic losses because of climate-related disasters. This paper reveals that the ASEAN’s environmental performance is sorely lagging other regions despite evidence of its cohesive and comprehensive efforts to mitigate emissions and build up adaptive capacity to climate-related disasters. Within the ASEAN, there exist gaps in environmental performance between each country. This suggests that increased cooperation between individual ASEAN countries is pertinent for the region to collectively combat climate change. In …

Policymaker Discourse In Colorado Public Higher Education Appropriations, Nathan Willers

Electronic Theses and Dissertations

State funding for higher education is one of the most pressing issues facing both institutions and policymakers in 2022. Colorado has seen significant declines in the amount of state funding per student over the past two decades, resulting in increases in student burdens for tuition. Policy discourse analysis through a poststructural and neoliberal lens provided insight towards the legislative process and the discursive themes utilized by Colorado policymakers during the 2021-22 legislative budgeting cycle. Twelve artifacts were analyzed, including a mix of policy briefs, hearings, and budget and appropriations reports, for discursive data related to the state’s appropriations for public …

Strategic Positioning Of National Natural Science Foundation Of China Within National Innovation System In New Era, Jianping Cheng, Li Chen, Yonghe Zheng, Jian Zhang

Bulletin of Chinese Academy of Sciences (Chinese Version)

As the main channel to support basic research, the National Natural Science Foundation of China (refered as science funds hereafter) plays a leading role in the national innovation system. During the 14th Five-Year Plan period, it is urgent to deepen the understanding of the strategic positioning of science funds in the national innovation system to optimize the national innovation system and accelerate the construction of China's strength in science and technology. This paper reviews the development process of China's national innovation system and the evolution of funding orientation of science funds, analyzes the characteristics of the national innovation system in …

Thoughts On Optimizing Peer Review Mechanism Of Science Foundation, Guang Chen, Kaihua Chen, Xu Gong, Yi Yuan, Xin Fang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Peer review is the self-regulating mechanism of the scientific community and the core link of scientific quality control. The core operating mechanism of National Natural Science Foundation of China (NSFC) is peer review, which is an important guarantee for the selection of high-quality projects. In order to promote the scientificity, objectivity, and impartiality of peer review, and steadily advance the reform and development of NSFC in the new era, this study analyzes the challenges of the current peer review mechanism of science foundation based on the review of the development of the peer review mechanism, and its advantages and disadvantages. …

Optimization Of Funding Policies Of Science Foundation Of China For High-Quality Development Of Basic Research, Shouyang Wang, Rui Tao, Jue Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Nowadays, with the vigorous rise of a new round of scientific and technological revolution around the world, emerging disciplines continue to spring up, science and technology develop rapidly and show the characteristics of intersection and fusion. Meanwhile, complex models appear in the field of scientific research, and talents play an increasingly prominent role in the process of scientific and technological innovation. In this context, National Natural Science Foundation of China (NSFC) is facing a new development opportunity and challenge. It is increasingly significant for how to optimize funding policies, strengthen basic research, enhance talent support for basic research, and build …

Strategic Thinking On Deepening International Cooperation In National Natural Science Foundation Of China, Rongping Mu, Shuang Ma, Kaihua Chen, Yun Liu

Bulletin of Chinese Academy of Sciences (Chinese Version)

As an important channel for China to support international cooperation in basic research, the National Natural Science Foundation of China (NSFC) should play a leading role in the international scientific and technological cooperation in the new era. This paper reviews the layout characteristics, achievements, and the new measures of the international cooperation projects of NSFC in the past decade, and summarizes the experiences of typical countries. It is found that the international cooperation in NSFC has formed a project layout with cooperative research, personnel exchange, and talent cultivation projects, providing important support for China's engagement in global scientific and technological …

How Could National Natural Science Foundation Of China Better Guide Diversified Investment In Basic Research?, Zhengfeng Li, Chenxiao Wu, Lu Huang, Wei Xue

Bulletin of Chinese Academy of Sciences (Chinese Version)

It is one of the key tasks of science and technology in China to adjust the investment structure of basic research funds and accelerate the construction of multiple investment pattern. The National Natural Science Foundation of China (NSFC) plays an important role in leveraging diversified investment in basic research. At present, the joint funds are the main way for NSFC to guide diversified investment in basic research in China. It is a successful exploration for NSFC to meet national needs, guide diversified investment, promote resource sharing and multilateral cooperation. Nevertheless, on the one hand, the cooperation of the joint funds …

Scientific Data Management From Perspective Of Scientific Funding Agencies, Qiuhong Zhao, Yuanrui Li, Xiuquan Deng, Chu Zhang, Baofeng Zhang

Bulletin of Chinese Academy of Sciences (Chinese Version)

With the development of technologies such as the acquisition, storage, analysis, and processing of scientific data, scientific research and innovation are gradually moving towards the era of big data, which takes scientific data as the basic scientific and technological resources. Moreover, the data-driven research paradigm has been widely used in the practical work of various disciplines, and the value of scientific data has increased to a prominent position of scientific research and innovation. As a result, the scientific data management responsibilities of research funding agencies are becoming increasingly important. Therefore, based on the analysis of the driving factors of the …

Lessons Learned: Richard “Jake” Siewert, Mercedes Cardona

Journal of Financial Crises

Siewert served as counselor to US Treasury Secretary Timothy Geithner from 2009 to 2011 during the Global Financial Crisis of 2007–09 (GFC). He had previously served in the Clinton administration, including as a special assistant to the president for economic affairs, at the National Economic Council, and as deputy White House press secretary. He also handled the press secretary duties from September 30, 2000, to January 20, 2001. This “Lessons Learned” is based on an interview with Mr. Siewert.

Lessons Learned: Lewis "Lee" Sachs, Yasemin Esmen

Journal of Financial Crises

Lewis “Lee” Sachs was counselor to Treasury Secretary Timothy F. Geithner and head of the Obama administration’s Financial Crisis Response Team in the US Department of the Treasury. Mr. Sachs led the development and coordination of the Obama administration’s Financial Stability Plan to stabilize the financial system during the Global Financial Crisis of 2007–09 (GFC). He was tasked with continued coordination with the outgoing Bush administration, as well as putting together a team to develop further restructuring plans and oversee their execution. This “Lessons Learned” is based on an interview with Mr. Sachs.

Lessons Learned: William Nelson, Sandra Ward

Journal of Financial Crises

William Nelson was deputy director, Division of Monetary Affairs, at the Federal Reserve Board during the Global Financial Crisis of 2007–09 (GFC). As the nation’s central bank, chief financial regulator, and lender of last resort, the Federal Reserve Board took the lead in setting monetary policy and stabilizing the financial system during the crisis.

Nelson’s responsibilities at the Fed during the crisis included analysis of monetary policy and discount window policy as well as financial institution supervision, and he regularly briefed the board and the Federal Open Market Committee. He developed special expertise in designing liquidity facilities and was a …

Lessons Learned: Timothy Massad, Yasemin Esmen

Journal of Financial Crises

Timothy Massad was assistant secretary for financial stability at the US Department of the Treasury between 2009 and 2014. He oversaw the $700 billion Troubled Assets Relief Program (TARP), which was passed by Congress in October 2008 to enable the Treasury to buy assets of and invest in banks and companies to stem the financial crisis. Massad was involved in the implementation of TARP as well as its winding down; it ultimately invested $439 billion. This “Lessons Learned” is based on a phone interview with Mr. Massad.

Lessons Learned: Jason Furman, Mercedes Cardona

Journal of Financial Crises

Jason Furman was a top economic adviser to the successful presidential campaign of Barack Obama in 2008. He played a key role in most of President Obama’s major economic policies during and in the aftermath of the Global Financial Crisis of 2007–09. Furman, who had served at both the Council of Economic Advisers and National Economic Council during the Clinton administration, served as Chairman of the Council of Economic Advisers from August 2013 to January 2017, acting as President Obama’s chief economist and a member of the cabinet. He is currently Professor of the Practice of Economic Policy at the …

The Effect Of A Financial Crisis On Household Finances: A Case Study Of Iceland’S Financial Crisis, Axel Hall, Andri S. Scheving, Gylfi Zoega

Journal of Financial Crises

Iceland experienced a financial crisis in 2008–2009 when its banking system collapsed, the currency lost half its value, most businesses became technically insolvent, house prices fell, and household debt increased due to indexation to foreign currencies or the price level. This paper tells the story of the crisis and maps the losses to households using a dataset from tax returns that includes all taxpayers in the country and contains the value of housing, mortgage debt, disposable income, and net worth. For relative losses in net worth, the results show that families with children, especially those with parents aged between 24 …

Lessons Learned: Matthew Kabaker, Yasemin Esmen

Journal of Financial Crises

During the Global Financial Crisis of 2007-09, Matthew Kabaker was senior adviser to Treasury Secretary Timothy F. Geithner and Treasury deputy assistant secretary, capital markets. He helped design the Treasury’s policy response to the financial crisis; design and implement the Dodd-Frank financial reforms; and address housing finance reform, including reforms at Fannie Mae and Freddie Mac. Mr. Kabaker also served on the Treasury’s Financial Stability Policy Council and Housing Policy Council. This Lessons Learned summary is based on an interview with Mr. Kabaker.

Lessons Learned: William “Bill” Dudley, Sandra Ward

Journal of Financial Crises

William “Bill” Dudley was the executive vice president of the Federal Reserve Bank of New York’s Markets Group from 2007–09 and vice chairman of the Federal Open Market Committee from 2009 to 2018. In January 2010, Dudley was named the 10th president of the New York Fed, succeeding Timothy Geithner. This Lessons Learned summary is based on an interview with Mr. Dudley.

Lessons Learned: Steven Adamske, Mercedes Cardona

Journal of Financial Crises

Steven Adamske was Communications Director for the House Financial Services Committee under Chairman Barney Frank in 2008 and later served as a spokesman for the Treasury Department under Secretary Timothy Geithner. Adamske handled communications for issues including the Troubled Asset Relief Program (TARP), the auto industry rescue, and the Dodd-Frank Wall Street Reform and Consumer Protection Act. At Treasury, he specialized in domestic finance issues such as the reform of Fannie Mae and Freddie Mac, the wind-down of TARP, and implementation of Dodd-Frank. This Lessons Learned summary is based on an interview with Mr. Adamske.

The Us Supervisory Capital Assessment Program (Scap) And Capital Assistance Program (Cap), Aidan Lawson

Journal of Financial Crises

Due to continued stress during the Global Financial Crisis, the US Treasury released a series of additional measures in February 2009 that included a mandatory stress test for major U.S. bank holding companies (BHCs), backed by government capital. The stress test, known as the Supervisory Capital Assessment Program (SCAP), tested the capital adequacy of the 19 U.S. BHCs that had more than $100 billion in assets. A large interagency team of regulators and other experts estimated losses and income under two hypothetical scenarios for the group of BHCs: a baseline that reflected the consensus belief about the course of the …

Us Capital Purchase Program, Aidan Lawson, Adam Kulam

Journal of Financial Crises

During the fall of 2008, the US government was faced with a financial crisis of unprecedented scope. Having already exercised the authority to put Fannie Mae and Freddie Mac into conservatorship in September, the stage was set for the US government to intervene more broadly in strained financial markets. This intervention would ultimately come in the form of the Emergency Economic Stabilization Act of 2008 (EESA), which was passed on October 3, 2008. The main provision of EESA was the Troubled Asset Relief Program, or TARP, a $700 billion program initially designed to purchase troubled assets off the balance sheets …

Us Reconstruction Finance Corporation: Preferred Stock Purchase Program, Aidan Lawson

Journal of Financial Crises

By March 1933, the early collateralized lending programs of the Reconstruction Finance Corporation (RFC) had failed to prevent the recurrence of bank runs and panic in US financial markets. These conditions forced newly elected President Franklin Delano Roosevelt to call for a nationwide bank holiday from March 6 to March 9. On the final day of the holiday, a special session of Congress passed the Emergency Banking Act (EBA), which gave the RFC the power to make investments via preferred equity of distressed institutions. Under the EBA, the RFC could subscribe to and make loans on cumulative non-assessable preferred stock …

Uk Bank Recapitalisation Scheme, Alec Buchholtz

Journal of Financial Crises

Following the collapse of Lehman Brothers and the ensuing global credit crunch in late 2008, Her Majesty’s Treasury (HMT) announced a large economic package to provide support to the UK banking sector. As part of the package, the eight largest banks committed themselves to raising their total Tier 1 capital by £25 billion through either private fundraising or government assistance. Thus, the economic package featured a new Bank Recapitalisation Scheme to invest up to £50 billion in capital into UK banking and credit institutions that could not raise their assets in the private sector. Government capital was invested into either …