Finance and Financial Management Commons^™

Preliminary Assessment Of Client Interest In And Needs Of The New England Environmental Finance Center, New England Environmental Finance Center, University Of Southern Maine

Planning

The New England Environmental Finance Center (NE/EFC) has been conceived as a knowledge-based clearinghouse, training, and change-agent program aimed at helping EPA's constituencies find financially successful approaches to environmental improvements. The NE/EFC will develop approaches to needs of particular priority in New England and potentially useful throughout the nation; share such approaches through the EFC national network; and help make tools from that network accessible throughout New England. In 1999 we began exploring with potential users how this ninth of the nation's EFCs might best address the region's needs. The assessment continued through the Muskie School's EFC proposal to EPA …

Preventing Fraudulent Financial Reporting, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

Provides information on a study conducted by the Committee of Sponsoring Organizations regarding the detection and prevention of financial fraud. Discussion on the nature of financial frauds; Characteristics of unreliable financial reporting; Views on the role of auditing firms in the prevention of fraud.

Ownership Patterns And Corporate Performance, Jinesh Panchali

IIMB Management Review

Corporates have emerged as vital economic institutions for growth, commanding a large proportion of social resources. Hence, they are, like the State, answerable to society for the efficient use of resources. Corporate governance is the social, legal, and economic process through which companies function and are held accountable1 . The structure of corporate ownership has a major impact on the way companies are managed and controlled. An attempt has been made here to explore ownership structure in India and abroad and to empirically analyse corporate performance in the Indian context, at various levels of ownership across ownership categories.

Reinventing Indian Hospitality, S Seshadri

IIMB Management Review

The hotel industry is hopefully just emerging from a threeyear period of recession. The heyday of the industry was in the years immediately following the opening up of the economy, from 1993-94 onwards. However, we had a couple of unfortunate events at that time, Babri Masjid and then the plague scare. Despite the economic environment turning positive, these other elements are very good examples of the ‘non economic factors’ that can have a serious impact on the hotel industry. So it was really in 94-97 that the industry reached its peak. Foreign investors came in significantly large numbers compared to …

Rural Credit And Self-Help Groups: Micro-Finance Needs And Concepts In India By K G Karmakar, New Delhi: Sage Publications,1999., M S Sriram

IIMB Management Review

Microfinance is the latest buzzword in developmental circles. Inspired by the success of the Grameen Bank experience of Bangladesh and its extensive documentation, there are several experiments being carried out in India as well. Naturally, literature about these experiments follows. Rural Credit and Savings is one sector which has been damaged almost beyond repair by the excessive intervention of the state and therefore people are trying to look at unconventional solutions. In the light of immense action happening in the microfinance sector, Karmakar’s book is not only timely but also an important addition to the existing literature.

Optimisation: Maximising Roi Within The Supply Chain, Irvin Lustig

IIMB Management Review

Optimisation is the technology employed within a supply chain management system that can have the single greatest impact on reducing costs, improving product margins, lowering inventories, and increasing manufacturing throughput. In short, optimisation is the key to achieving maximum return on investment (ROI). According to John Bermudez of the Boston- based AMR Research, the planning and scheduling modules that depend on optimisation technology have generated 30 to 300% ROI within companies that have already used them1. And the returns should continue to rise. Bermudez called the technology a means to unlock the potential from all of the data residing in …

Quality Of Earnings: An Accounting Model For Analysing Corporate Performance, M S Narasimhan, G Balasubramanian

IIMB Management Review

Strategic planning is the  process of deciding how to commit the firm’s resources across its business activities to create value. It i - cludes decisions on committig resources to new projects as well as improving existing activities The success of strategic planning depends on the extent to which the firm understands itself and the enviro - ment, particularly the industry and the market in which it operates. In the context of selfassessment and the firm’s relative position in the environme t, the ratios of key financial variables help firms gain an insight into their operating performance and financial health. However, …

The Merchant Power Plant: The Future Of Power Generation, Hari Natarajan

IIMB Management Review

 In most countries, till recently, the electrical supply industry (ESI) was either state owned and operated or was heavily regulated. However, with the recognition in the late 70s that this leads to severe misallocation of labour, capital and natural resources, many countries looked to restructure their ESI to introduce competition and allow the entry of the private sector. A typical restructuring exercise involved unbundling of generation, a potentially competitive sector, from transmission and distribution, which are considered to be natural monopolies. An outcome of the restructuring was the evolution of a new entity.

Local Economic Risk Factors On The Primary And Secondary Mortgage Markets, Brent W. Ambrose, Anthony Pennington-Cross

Finance Faculty Research and Publications

This paper presents a cross-sectional analysis of the spatial distribution of loans in the primary and secondary mortgage markets. Aggregating loan originations to the MSA level, we examine the proportion of the market served by FHA and conventional lenders. We model the geographic differences in market shares as a function of supply, demand, and economic risk factors. Results indicate that FHA market shares are higher in cities with higher economic risk characteristics. To examine the role of GSE activity, we model the spatial distribution of the disposition of conventional loans. Again, we focus on the impact of local economic risk …

Application Of Operations Research Techniques To Finance, Kamlesh Kosare

IIMB Management Review

There is a pressing need to find solutions to vari ous problems in finance with the help of operations research techniques, which can be conveniently used, for decision making.

Journal Of Actuarial Practice, Volume 8, Nos. 1 And 2 (2000) -- Masthead & Contents, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

Contents

Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation

Review Process

Editor - Colin Ramsay, University of Nebraska

Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, …

Environmental Finance Charette, Hyannis Park On Lewis Bay: A Case Study, New England Environmental Finance Center, Environmental Finance Center Of University Of Maryland

Water

The town of Yarmouth currently has a $30 million septic sludge treatment plant and transport lines in place. The vast majority of the dwellings and businesses in the Hyannis Park area are on septic systems that are viable and Title 5 compliant, regardless of age. Conventional, "non-failing" septic systems, however, were never intended to remove form their effluent nutrients such as nitrogen. These have become recognized as an environmental threat only as our understanding of the impacts of excess nutrients on ecosystems has increased in recent decades.

Replication: Regressive Reproduction Or Progressive Evolution?, Graham Wright

Journal of Microfinance / ESR Review

Increasing numbers of organizations are "replicating" the programs of successful microfinance institutions (MFIs). This approach allows rapid start-up using tested models and systems. These strengths are also weaknesses, though, since the models being replicated usually require substantial modifications to make them appropriate for local conditions. Furthermore, close adherence to "blueprints" is likely to substitute for careful research into the needs and opportunities for the provision of financial services to the poor--and thus the design of appropriate systems. Replication also risks the suppression of innovative ways of providing still better financial services--particularly when promoted by powerful apex funding organizations, as is …

Impact Assessment Of Microfinance And Organizational Learning: Who Will Survive?, James G. Copestake

Journal of Microfinance / ESR Review

To what extent is it possible for organizations to reflect honestly on their own performance, draw appropriate conclusions, and then act on them? For many microfinance organizations this is now a question of survival. This paper argues that formal impact assessment can assist in the transition from donor-controlled replication projects to autonomous and adaptable organizations--but it often fails to do so. Pitfalls include inadequate attention to methodological detail and to the links between impact assessment and wider aspects of organizational change. The paper starts by highlighting the complexity of the overall task to which impact assessment is expected to contribute. …

Vol. 02 No. 2 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Banking On Customer Loyalty, Craig Churchill

Journal of Microfinance / ESR Review

Enhancing customer loyalty is a microfinance institution's most important business strategy. Every critical element involved in managing microfinance operations--from product pricing to staff incentives, from marketing to eligibility requirements, from client screening to the menu of available services--can (and should) be formulated to promote loyalty. While most MFIs recognize the importance of client retention, few have designed business strategies to maximize customer loyalty. Hopefully that will change. This article details the economic impact that customer loyalty has on a microfinance institution (and the negative effect of desertion).

Moving Microenterprises Beyond A Subsistence Plateau, Beth C. Haynes, Kristie K. Seawright, William C. Giauque

Journal of Microfinance / ESR Review

Enthusiasm for microcredit programs has increased during the past decade. The attention these programs have drawn stems philosophically from progress in cultivating self-sufficiency among those in abject poverty, and practically from the viability and high loan repayment rates of many microfinance institutions. The programs assume that lack of capital is the main barrier to the economic progress of the poor. The lack of entrepreneur business management experience and training, however, may create a barrier equally powerful and limit the growth potential of microenterprises. Microcredit programs could foster even greater economic progress by ensuring that clients receive appropriate human capital development. …

Book Review- Microfinance And Poverty: Questioning The Conventional Wisdom By Hege Gulli, Lisa M. Jones

Journal of Microfinance / ESR Review

No abstract provided.

Microfinance In The United States: The Working Capital Experience— Ten Years Of Lending And Learning, Jeffrey Ashe

Journal of Microfinance / ESR Review

Working Capital is the United States' largest peer-group lending program. This article reviews what Working Capital has learned about the market, its customers, program impact, and service delivery over its ten year history. It presents a model for understanding how participating in peer lending groups develops “social and economic capital” in poor communities. The article then discusses how participants judge the group model as they identify the characteristics of successful groups and the impact of the group on their businesses, on themselves personally, and on the larger community. The rest of the article discusses how Working Capital evolved from a …

Capital Enhancement Guarantees And Risk Management By Capital-Constrained Lenders, J.D. Von-Pischke

Journal of Microfinance / ESR Review

Commercial lenders require capital to bear risk. The capital enhancement guarantee (CEG) encourages lenders to make loans they would not otherwise make, such as microenterprise loans. The CEG is auctioned and awarded to bidders who promise the greatest amount of new lending for a given increment of permanent capital. Whether the incremental lending causes losses or gains for the lender, the incremental capital is free. The CEG subsidizes innovation in risk management. It places the analytical focus on risk and its cost, supports the key party to the lending decision, promotes skill in managing risk, is transparent, minimizes moral hazard, …

A Clean And Transparent Market, N Balasubramanian

IIMB Management Review

Patil speaks to N Balasubramanian in depth about what led to the setting up of the NSE and its phenomenal success in the very first year of its existence; about what makes this exchange not only unique but also a role model for other countries to follow. He considers the challenges and prospects ahead and chalks out his personal vision for the exchange. He describes at length the initiatives that have been taken and are proposed to establish India as an international financial centre, to enable research., to bring about a clean and transparent market, and to improve corporate governance …

Credit And Banking: What Every Small Entrepreneur (And Banker) Must Know By K C Nanda, Response Books, New Delhi, 1999, Pp 289, P Rice: Rs 395 (Cloth) Rs 225 (Paper)., M S Sriram

IIMB Management Review

There have been some very interesting books in the recent past on the small industry. With competition increasing and protection for various sectors being selectively removed, it is time that we looked at some sectors which have been accorded protection in the past - like co-operatives and small industries- and see how they have been performing. It is also important for us to get some insights into recent research and practice in these sectors. In this
context, K C Nanda's book raises our level of expectation. However as one reads through the pages and pages of casual conclusions and off-the-cuff …

A Comparative Analysis Of Conventional Banking System And Islamic Banking System In Malaysia In Relation To Loan Repayments, Baharin Salim Abdullah

Student Works (2000-2009)

The birth of Bank Islam Malaysia Berhad (81MB) in 1983 symbolized the Malaysian Government's initiative in establishing an Islamic banking system. After 17 years of operation in a market mainly dominated by conventional banks, 81MB has still unable to achieve its target of capturing a significant portion of th is market. In this paper, the writer tries to observe the main differences between the conventional and Islamic banking system Malaysia in relation to loan repayments. Through this observation, strengths and weaknesses of the Islamic banking system can be identified. Recommendations can be made to help enhancing BIMB's performance in achieving …

Credit Scoring For Microfinance: Can It Work?, Mark Schreiner

Journal of Microfinance / ESR Review

In rich countries, lenders often rely on credit scoring--formulae to predict risk based on the performance of past loans with characteristics similar to current loans--to inform decisions. Can credit scoring do the same for microfinance lenders in poor countries? This paper argues that scoring does have a place in microfinance. Although scoring is less powerful in poor countries than in rich countries, and although scoring will not replace the personal knowledge of character of loan officers or of loan groups, scoring can improve estimates of risk. Thus, scoring complements--but does not replace--current microfinance technologies. Furthermore, the derivation of the scoring …

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

All Southern University System Budgets

The Operating Budget of the Southern University System, Fiscal Year Ending June 30, 2001.

2000-2001 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 2000-2001.

2000-2001 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 2000-2001 Fiscal Year Operating Budget for the Southern University Law Center Campus.

2000-2001 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, 2001.

Commodities Taxes/Levies And Their Effects On Commodity Trade And Movements In Nigeria., Joe Alegieuno, A O. Balogun

Bullion

The Commodity Boards were noted for paying farmers prices that were lower than the world prices and sometimes even lower than their production costs. This difference represented implicit taxation of farm incomes and served as a dis-incentive to domestic production. This paper examines the administration of commodity taxes/levies and their effect on commodity trading in Nigeria as well as assessing the various systems of commodity marketing in Nigeria. The paper concludes that Commodity trade, in Nigeria began with the British companies exporting raw materials to their industries abroad. His was followed by the Commodity/Marketing Board era and finally trade liberation. …