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2001

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Institution
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Publication
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Articles 1 - 30 of 142

Full-Text Articles in Finance and Financial Management

Persistence In Style-Adjusted Mutual Fund Returns, Melvyn Teo, Sung-Jun Woo Nov 2001

Persistence In Style-Adjusted Mutual Fund Returns, Melvyn Teo, Sung-Jun Woo

Research Collection Lee Kong Chian School Of Business

The literature on mutual fund persistence took a hit with the finding that one-year stock momentum and expense ratios account for most of the persistence in mutual fund performance (Carhart, 1992; Carhart, 1997). However, since equity mutual funds are grouped into styles (e.g., large value, small growth, mid-cap growth, etc.) and are often confined to trading stocks within their style, one should measure fund performance relative to style when investigating managerial ability. Using CRSP mutual fund data and a methodology similar to Carhart (1997), we find that differences in style-adjusted fund returns persist for up to six years. Neither one-year …

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How Many Credit Cards Do You Need?, Barbara Rowe Nov 2001

How Many Credit Cards Do You Need?, Barbara Rowe

All Current Publications

No abstract provided.

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Checking Your Credit Report, Barbara Rowe Nov 2001

Checking Your Credit Report, Barbara Rowe

All Current Publications

No abstract provided.

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Building A New Credit Report, Barbara Rowe Nov 2001

Building A New Credit Report, Barbara Rowe

All Current Publications

No abstract provided.

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How Much Credit Is Too Much?, Barbara Rowe Nov 2001

How Much Credit Is Too Much?, Barbara Rowe

All Current Publications

No abstract provided.

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Reducing Credit Card Debt, Barbara Rowe Nov 2001

Reducing Credit Card Debt, Barbara Rowe

All Current Publications

No abstract provided.

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2002-2003 Budget Request, Southern University System. Office Of Finance & Administration Oct 2001

2002-2003 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 Jue 20, 2003.

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Ua9 Investing In The Spirit, Wku Development & Alumni Relations Oct 2001

Ua9 Investing In The Spirit, Wku Development & Alumni Relations

WKU Administration Documents

Development office newsletter regarding donors and donations to Western Kentucky University.

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An Empirical Examination Of Traditional Neighborhood Development, Charles C. Tu, Mark Eppli Oct 2001

An Empirical Examination Of Traditional Neighborhood Development, Charles C. Tu, Mark Eppli

Finance Faculty Research and Publications

This study analyzes the impact of the new urbanism on single-family home prices. Specifically, we explore the price differential that homebuyers pay for houses in new urbanist developments relative to houses in conventional suburban developments. Using data on over 5,000 single-family home sales from 1994 to 1997 in three different neighborhoods, hedonic regression results reveal that consumers pay more for homes in new urbanist communities than those in conventional suburban developments. Further analyses indicate that the price premium is not attributable to differences in improvement age and other housing characteristics.

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Preplanning A Funeral, Barbara Rowe Oct 2001

Preplanning A Funeral, Barbara Rowe

All Current Publications

No abstract provided.

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Are Interest Rate Derivatives Spanned By The Term Structure Of Interest Rates?, Massoud Heidari, Liuren Wu Sep 2001

Are Interest Rate Derivatives Spanned By The Term Structure Of Interest Rates?, Massoud Heidari, Liuren Wu

CRIF Working Paper series

We investigate whether the same finite dimensional dynamic system spans both interest rates (the yield curve) and interest rate options (the implied volatility surface). We find that the options market exhibits factors independent of the underlying yield curve. While three common factors are adequate to capture the systematic movement of the yield curve, we need three additional factors to capture the movement of the implied volatility surface.

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Institutional Alternatives For The Promotion Of Microfinance: Self-Help Groups In India, P. Satish Sep 2001

Institutional Alternatives For The Promotion Of Microfinance: Self-Help Groups In India, P. Satish

Journal of Microfinance / ESR Review

Microfinance is now an accepted institutional framework for taking financial services to the poor. It is but natural that microfinance should have had tremendous growth in India--the home to the largest concentration of poor. In India the microfinance technology that had a relatively higher growth in the last decade is the self-help group (SHG). This lays stress on thrift as well as credit and also on the linkage between informal groups and formal financial institutions. An important sine qua non in this technology is the institution that promotes the SHGs. In India, SHGs have been promoted by nongovernmental organizations (NGOs), …

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Book Review: Mainstreaming Microfinance By Elisabeth Rhyne, Monte L. Lynn Sep 2001

Book Review: Mainstreaming Microfinance By Elisabeth Rhyne, Monte L. Lynn

Journal of Microfinance / ESR Review

No abstract provided.

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Building Better Lives: Sustainable Integration Of Microfinance And Education In Child Survival, Reproductive Health, And Hiv/Aids Prevention For The Poorest Entrepreneurs, Christopher Dunford Sep 2001

Building Better Lives: Sustainable Integration Of Microfinance And Education In Child Survival, Reproductive Health, And Hiv/Aids Prevention For The Poorest Entrepreneurs, Christopher Dunford

Journal of Microfinance / ESR Review

This paper provides diverse examples of microfinance institutions that have responded successfully to the challenge of integrating microfinance with nonfinancial services, without compromising the impacts or sustainability of their microfinance and overall operations. Special attention is given to the integration of microfinance with health education for very poor women, including the promotion of family planning and HIV/AIDS prevention management. The credit and education components reinforce each other by addressing the informational as well as the economic obstacles to health and nutrition. There is good potential for large-scale, self-financing delivery of microfinance and education together in one efficient and effective service …

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Seven Aspects Of Loan Size, Mark Schreiner Sep 2001

Seven Aspects Of Loan Size, Mark Schreiner

Journal of Microfinance / ESR Review

Attempts to measure the depth of outreach in microfinance usually start--and often end--with loan size. But just what is loan size? This paper discusses seven aspects of loan size, each of which affects not only depth of outreach but also profitability. The seven aspects are: term to maturity, dollars disbursed, average balance, dollars per installment, time between installments, number of installments, and "dollar-years of borrowed resources." This paper defines the seven aspects, explains why each one matters, and gives examples of their measurement with data from three Latin American microfinance organizations.

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Announcements, Journal Of Microfinance Sep 2001

Announcements, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Rethinking The Approach To The Microenterprise Sector In Latin America: An Intergrating Framework, Jaime Ortiz Sep 2001

Rethinking The Approach To The Microenterprise Sector In Latin America: An Intergrating Framework, Jaime Ortiz

Journal of Microfinance / ESR Review

Unavoidable macroeconomic adjustment policies have exacerbated social inequalities in Latin America. As a result, electoral platforms have identified microenterprises as an alternative economic activity to help alleviate poverty. Pursuing an efficient microentrepreneurial base requires from governments a comprehensive package of both financing and training strategies. Conversely, microentrepreneurs require a better understanding of their activity in order to set forward arguments that will allow them to enhance their management practices. Government policies towards the microenterprise sector should create favorable conditions conducive to the establishment and operation of financial institutions as well as specialized nongovernmental organizations providing training and consulting. Within that …

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Vol. 03 No. 2 Journal Of Microfinance, Journal Of Microfinance Sep 2001

Vol. 03 No. 2 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Microcredit And The Rural Poor: A Review Of The Maharashtra Rural Credit Project, Raghav Gaiha Sep 2001

Microcredit And The Rural Poor: A Review Of The Maharashtra Rural Credit Project, Raghav Gaiha

Journal of Microfinance / ESR Review

An attempt is made to review the Maharashtra Rural Credit Project (MRCP)--a microcredit scheme--by focusing on the process of implementation and its implications for targeting, empowerment of women, and trade-off between coverage of the poorest and sustainability of this scheme. Attention is drawn to deficiencies in the design and implementation of this scheme that limit the participation of the poorest and the benefits accruing to them. Moreover, it is argued that there is a risk of overstating the trade-off between the coverage of the poorest and sustainability of the MRCP if these deficiencies are overlooked.

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Human Capital Valuation: An Improved Model, Deep Chatterjee, M Kalidas, Kaushik Kundu, Pankaj Gautam, Sumit Shantanu Sep 2001

Human Capital Valuation: An Improved Model, Deep Chatterjee, M Kalidas, Kaushik Kundu, Pankaj Gautam, Sumit Shantanu

IIMB Management Review

Human capital is one of the buzzwords of the knowledge society. The concept lay dormant for two centuries after Adam Smith first introduced it, but it was revived in the 1960s by American economists, such as Gary Becker and Jacob Mincer, who then exported it triumphantly around the world. Human capital is a beautifully unifying idea facilitating quantitative analyses. It is an excellent vehicle for framing policy discussions too, whether on schooling, training, or labor market performance. But companies differin the models they use to value human capital. An attempt has been made here to develop a model that can …

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Value Based Management: Some Perspectives, Prasanna Chandra Sep 2001

Value Based Management: Some Perspectives, Prasanna Chandra

IIMB Management Review

gained widespread acceptance in the US in the last two decades or so. With the globalisation of capital markets, intensification of competition, and massive privatisation initiatives, shareholder value is gaining the attention of executives all over the world, including India. The interest in value creation has been stimulated by several developments:

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Empowerment And Growth: The Eva Story At Tcs, S Mahalingam Sep 2001

Empowerment And Growth: The Eva Story At Tcs, S Mahalingam

IIMB Management Review

Tata Consultancy Services (TCS) employs over 15000 professionals, has offices in 23 countries and projects in 50 countries across the world, and revenues around $700 million. Among its clientele are a number of Fortune 500 companies and it is in the league of 30 top IT consulting firms in the world. TCS today is an Indian enterprise with a global reach. Its hiring and people care practices are in line with the industry practices and the compensation model has been traditional. The company has now set its sights on becoming a truly global organization. Its vision is to be among …

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What Is Eva?, Joel Stern Sep 2001

What Is Eva?, Joel Stern

IIMB Management Review

There is no way to measure your performance contemporaneously, period by period. The way people try to incentivize net present value is by using stock options or restricted shares or something like that. But we have taken net present value, which is what the accountants call a stock concept, and converted it into a flow concept, one that can be measured contemporaneously year-by-year. We have put the incentives and the tools in place, to reinforce that. So on acquisitions, for example, you will not be the one to drop out of the bidding contest. I will show you how we …

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Stern Measures: In Conversation With Joel Stern, S Venkatesh Sep 2001

Stern Measures: In Conversation With Joel Stern, S Venkatesh

IIMB Management Review

The financial evaluation tool that his company devised and grew. Elaborating on how it differs from the accountants’ measure of value and is an accurate measure of shareholder value, Stern claimed that EVA was emerging as a strong consulting practice in India, thanks to the sharpness of the quantitative side of the Indian brain. Defending EVA against Prof Zimmerman’s criticism, Stern strongly positioned EVA as a tool for evaluation, incentivization, and strategic decision making

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Eva: Cutting To Fit, S Venkatesh Sep 2001

Eva: Cutting To Fit, S Venkatesh

IIMB Management Review

No abstract provided.

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Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker Sep 2001

Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker

Journal of Microfinance / ESR Review

A few microfinance institutions (MFIs) have implemented best business practices and made the transition to fully regulated financial institutions. Many more are in the process of undertaking this transformation or at least considering it. Rising competition among growing numbers of MFIs for both funding and clients has made improved financial performance a necessity for most if not all MFIs. Financial ratios of 17 Latin American MFIs are compared to benchmark performance ratios for the industry and with commercial Latin American banks. This small sample of data, while useful, also underlines the need for more widespread MFI reporting. Complicating reliance on …

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Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla Sep 2001

Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla

Journal of Microfinance / ESR Review

No abstract provided.

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Creating An Enabling Environment For Small-Scale Industries., K. M. Obitayo Sep 2001

Creating An Enabling Environment For Small-Scale Industries., K. M. Obitayo

Bullion

This paper explores how to create enabling environment for the development of small-scale industries (SSIs) which are globally noted for their immense contributions to development process and as engine of economic growth. The rest of the paper is divided into five sections. Section ll reviews the definition of SSls and highlights some relevant economic significance of SSls, Section lll reflects government's past efforts in supporting the developments of SSIs in Nigeria. Section lV discusses SSls constraints while Section V dwells on the key policy issues for creating an enabling environment for SSls. Finally, Section Vl, provides the concluding remarks and …

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Microfinance Impact Assessments: The Perils Of Using New Members As A Control Group, Dean S. Karlan Sep 2001

Microfinance Impact Assessments: The Perils Of Using New Members As A Control Group, Dean S. Karlan

Journal of Microfinance / ESR Review

Microfinance institutions aim to reduce poverty. Some assess their impact through a cross-sectional impact methodology which compares veteran to new participants and then calls any difference between these two groups the "impact" of the program. Such studies have risen recently in popularity because they are cheap, easy to implement, and often encouraged by donors. USAID, through its AIMS project, encourages this methodology with its SEEP/AIMS practitioner-oriented tools. This paper intends to inform practitioners about the perils of using such a strategy, and suggests a couple of solutions to some of the larger problems with this approach.

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Front Matter, Journal Of Microfinance Sep 2001

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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