Finance and Financial Management Commons^™

Bulletin 4396 - Byenup Hill Focus Catchment Benefit: Cost Analysis, Allan Herbert

Bulletins 4000 -

The main text of this document concentrates on the costs of the proposed strategies, and the on-farm financial benefits from forecast production changes - in particular the production differences between the 'do nothing' and 'with strategy' scenarios.

Members of the catchment group indicated however that their main focus was on preserving their capital base. Hence some discussion of the values of land lost to salt and premiums/discounts for 'landcared' vs 'unlandcared' land appears later in the report. Economics literature suggests that including changes in land values into these analyses is incorrect. It is argued that production differences are actually captured …

An Investigation Of Price Discovery In Informationally-Linked Markets: Equity Trading In Malaysia And Singapore, David K. Ding, Frederick H. Harris, Sie Ting Lau, Thomas H. Mclnish

Research Collection Lee Kong Chian School Of Business

Using transactions data for the Kuala Lumpur Stock Exchange and the Stock Exchange of Singapore (SES) for a major Malaysian conglomerate, Sime Darby Berhad, and intraday exchange rate data, we investigate whether and to what extent each exchange contributes to price discovery. Results indicate that the price series are cointegrated. The raw data appear to indicate the presence of arbitrage opportunities, but none exist after taking exchange rate changes into account. Using the common long-memory factors of Gonzalo and Granger (1995, Journal of Business and Economic Statistics 13, 1-9), we show that while the majority of the price discovery (approximately …

2000-2001 Budget Request, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University System Administration & Board of Supervisors Budget Request, Fiscal Year Ending June 20, 2001.

Miscellaneous Publication 53/99 - Ideas A Diversification Manual For The Pastoral Rangelands, Kaz Price, Lee Verios

Farm Systems and Economics published reports

In 1993 the Pastoral Wool Industry Task Force recognised the diminishing returns to wool production and the need for Rangeland enterprise diversification and other risk management strategies

This manual has been developed to assist pastoralists through the decision making process when considering diversification and contains:

• business and finance planning;
• business structures;
• legislative requirements and also includes;
• current contacts for a range of industries

The manual has been produced in response to a range of questions from pastoralists wishing to investigate and develop alternate enterprises for the semi-arid Rangelands of Western Australia.

Liquidity And Contagion In Financial Markets, David Backus, Silverio Foresi, Liuren Wu

CRIF Working Paper series

This paper presents a model on contagion in financial markets. We use a bank run framwork as a mechanism to initiate a crisis and argues that liquidity crunch and imperfect information are the key culprits for a crisis to be contagious. The model proposes that a crisis is more likely to be contagious when (1) banks have similar cost-efficiency structures (clustering) and (2) a large fraction of the investment is in the illiquid sector (illiquidity). The latter is an endogenous decision made by the banks. It increases with (1) the prospect of the risky asset (risk-return trade-off) and (2) the …

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Vol. 01 No. 1 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Measuring Transformation: Assessing And Improving The Impact Of Microcredit, Susy Cheston, Larry Reed

Journal of Microfinance / ESR Review

The question of impact assessment is one that continues to plague microcredit practitioners. Some contend that existing impact assessment studies are meaningless, while others maintain they are absolutely necessary. The authors of this paper advocate a renewed focus on the transformation of clients and their communities, as well as a new impact assessment model to support and document this focus. They outline the key principles for conducting impact audits that include measurement of transformation among clients. They also review a series of practitioner-oriented impact assessment tools and outline future challenges for practitioners, donors, and academics in improving performance through impact …

Microenterprise Development In The Heartland: Self-Employment As A Self-Sufficiency Strategy For Tanf Recipients In Iowa 1993-1998, Salome Raheim, Jason J. Friedman

Journal of Microfinance / ESR Review

There has been a significant interest in the microenterprise movement regarding its effectiveness as a welfare-to-work strategy. A decade's worth of program results, demonstration projects, and research strongly suggest that the benefits of microenterprise development for welfare recipients outweigh the costs and risks. The state of Iowa has been a leader in promoting microenterprise development as a welfare-to-work strategy. Iowa was the first state in the US to incorporate microenterprise-development training as an eligible activity in its welfare-reform program. Since 1993, the Iowa Department of Human Services (IDHS) has contracted with the Institute for Social and Economic Development (ISED), a …

Announcements, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Are Grameen Replications Sustainable, And Do They Reach The Poor?: The Case Of Card Rural Bank In The Philippines, Hans Dieter Seibel, Dolores Torres

Journal of Microfinance / ESR Review

The Grameen Bank in Bangladesh is known worldwide for its success in providing credit to the poor. However, subsequent replications of its methodology in other parts of the world have been less successful. Is there really an infallible solution that works everywhere, and is outreach to the poor compatible with sustainability? A Grameen replicator in the Philippines, the Center for Agriculture and Rural Development (CARD), has recently set itself firmly on the path to sustainability by becoming a formal sector, rural bank—the first credit NGO in the country to do so. During the period, from 1993 to June 1999, CARD's …

Village Banking Dynamics Study: Evidence From Seven Programs, Judith Painter, Barbara Mknelly

Journal of Microfinance / ESR Review

The primary question examined in this study is whether client loans grow or stagnate over time. Loan growth is important to financial sustainability and is also a proxy for positive impact. The relationship between loan growth and a variety of factors--program loan and savings policies, site selection, membership dynamics--are explored in the context of seven village bank programs. The study concludes that on average, loan size did not stagnant but increased steadily, although at a rate lower than the original village bank model projections. Only programs that allowed non-poverty level loans (loans above US$300) approached the original loan growth rate. …

The Impact Of Outcome-Based Assessment On Microenterprise Programs, Margaret A. Johnson, Umasundari Akella, Jule Lalande

Journal of Microfinance / ESR Review

The changing environment in the nonprofit sector has subjected microenterprise programs to a new paradigm that emphasizes rationality principles. These principles ask practitioners to increase their outcomes while minimizing costs and to demonstrate that they are doing so with outcome-assessment measurements. This paper presents a case study of what happened to 11 microenterprise programs that adopted outcome assessment. Factors affecting the adoption of outcome assessment were changing norms in the nonprofit sector, demands from state legislators for information on program outcomes, and mandates from funders. A funding formula was implemented; program responses included going along, adopting practices to fit the …

Defying The Odds: Bunking For The Poor, By Eugene Versluysen, Eugene Versluysen

Journal of Microfinance / ESR Review

No abstract provided.

Bringing Development Back, Into Microfinance, Maria Otero

Journal of Microfinance / ESR Review

No abstract provided.

The Microcredit Summit's Challenge: Working Toward Institutional Financial Self-Sufficiency While Maintaining A Commitment To Serving The Poorest Families, David S. Gibbons, Jennifer W. Meehan

Journal of Microfinance / ESR Review

Institutional financial self-sufficiency (IFS) is necessary for a microfinance institution (MFI) to obtain the large amount of funds required to reach and benefit truly large numbers of the poor and poorest households. There is no necessary trade-off between serving large numbers of the poorest households and the attainment of IFS by an MFI, as proven by the case studies in this paper. Cost-effective identification of the poor and the poorest women is essential to maximizing the effectiveness and efficiency of providing microfinance services to them. If the service is not exclusively for the poor and the poorest, it should be …

A President And A Professional: In Conversation With Anand Rathi, N Balasubramanian

IIMB Management Review

Anand Rathi. President of the Stock Exchange. Mumbai. speaks about his transition from a company executive to a capital market functionary and finally to his current position as chief executive of the BSE. He elaborates on the challenges he faces in an organisation like the BSE. particularly in taking it to global levels of excellence and in this regard. he discusses his agenda for the year - 'Mission 2000 and Beyond'. He also touches upon the key issues of governance. the role of IT in changing the way business is conducted in stock exchanges and finally. he shares his wider …

Securitisation, Kannan Venkateshwar

IIMB Management Review

No abstract provided.

Valuing The New Urbanism: The Case Of Kentlands, Charles C. Tu, Mark Eppli

Finance Faculty Research and Publications

This study assesses the impact of new urbanism on single-family home prices. Specifically, we use Duany and Plater-Zyberk's traditional neighborhood development (TND) of Kentlands and surrounding conventional subdivisions to estimate the premium, if any, that single-family homeowners are willing to pay to reside in a community with new urbanist features. Using data on 2,061 single-family home transactions and several hedonic price models, the empirical evidence reveals that consumers are willing to pay a premium to locate in Kentlands.

The Development Of Laser Cost Estimating Relationships (Cers) From Commercial Data, Michael J. Nolette, Steven L. Seeley

Theses and Dissertations

The Post Cold War acquisition environment has been marked by significant budget reductions and the greater use of commercial practices. In this austere and rapidly changing acquisition environment, accurate cost estimates are paramount to maximize the use of the DoD's critical resources. The advancement of laser technology has spawned a large variety of military laser applications such as the Airborne Laser (ABL), Space Based Laser (SBL) and a host of other smaller programs. Furthermore, the Air Force Laboratory's Directed Energy Applications for Tactical Airborne Combat (DEATAC) Study (the sponsoring activity of this thesis research) is considering a host of airborne …

Is The Term Premium A Risk Premium?, Louis H. Ederington, Jeremy C. Goh

Research Collection Lee Kong Chian School Of Business

This paper explores whether excess holding period returns on long vis-a-vis short-term securities behave in a manner that is consistent with (1) market efficiency, (2) the time-varying-term-premium variant of the expectations hypothesis, and (3) theories of the term premium that view it as a reward for risk bearing. Both traditional and modern theories of the term premium imply that it should evolve fairly slowly over time as attitudes toward risk and/or perceived covariances with wealth or consumption change. This implies that this period's term premium should have some predictive ability for next period's. However, we find that this quarter's ex-post …

The Adequacy Of The Fourteen General Systems Characteristics As Function Point Adjustment Factors, Michael D. Prater, Joseph C. Willoughby

Theses and Dissertations

The purpose of this research is to assess the perceived adequacy of the 14 general systems characteristics (GSCs) in deriving a value adjustment factor (VAF) for calculating final function point counts. Two self-administered surveys were used to collect data. Based on the survey results, it is clear that the 14 GSCs currently do not adequately represent the applications complexity required to adjust function point counts. The current GSCs remain controversial and while this research can not conclusively state that one factor is more accurate than any other, it is evident that certain GSCs are perceived to he more useful for …

1999-2000 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 1999-2000 Southern University Board and System Administration Operating Budget, Fiscal Year Ending June 30th 2000.

1999-2000 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University and A & M College Operating Budget for the Fiscal Year 1999-2000.

1990-2000 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 1999-2000 Fiscal Year Operating Budget for the Southern University Law Center Campus.

1999-2000 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University and A & M College, Operating Budget for the Fiscal Year 1999-2000.

1999-2000 Operating Budget, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University at Shreveport, Operating Budget for the Fiscal Year Ending June 30, 2000.

Implementation Of An Activity-Based Costing System In An Air Force Laboratory Environment, Jayson M. Wrona, Martin Memminger

Theses and Dissertations

The purpose of this study was to examine the initial implementation of an Activity Based Costing (ABC) system within the United States Air Force's Research Laboratories (AFRL). We were attempting to ascertain what the initial purposes for implementing ABC within AFRL were, then determine whether or not those goals were being attained. We also attempted to evaluate the current system's appropriateness for achieving those initial purposes. Finally, we provide suggested changes to the model and areas for future research. We noted problems with AFRL's current ABC system. We were able to condense the problem into two main categories. First, when …

The Fundamental And Non-Fundamental Components Of Stock Prices: The Role Of Time-Varying Expected Inflation, Maosen Zhong

Doctoral Dissertations

I derive testable implications of fundamental and non-fundamental components of stock prices. In order to control for the role of time-varying expected inflation and to be able to perform reasonable empirical tests, I use a nominal (rather than a real) interpretation of the present-value model (PVM), whereby nominal interest rates approximate expected inflation. I conjecture that the fundamental and non-fundamental components represent the permanent and temporary components of stock prices, respectively. A series of cointegration analysis over the annual period 1871–1997 confirms my conjecture for the model with time-varying expected inflation. Various fundamental and non-fundamental exclusion tests indicate that both …

The Impact Of The Packard Commission's Recommendations On Reducing Cost Overruns On Defense Acquisition Contracts, David S. Christensen, David A. Searle, Caisse Vickery

Faculty Publications

Using data from selected acquisition reports, Drezner et al. (1993) show that reform initiatives from 1960 to 1990 did not reduce cost growth on 197 defense programs. The average cost growth on these programs was 20 percent and did not change significantly for 30 years. Using data from the Defense Acquisition Executive Summary data base, we show a similar result. Initiatives based on the recommendations of the Packard Commission did not reduce the average cost overrun percent experienced on 269 completed defense acquisition contracts evaluated over an 8-year period (1988 through 1995). In fact, the cost performance experienced on development …