Finance and Financial Management Commons^™

Financing Low-Carbon Transport Transition In The Philippines: Mapping Financing Sources, Gaps And Directionality Of Innovation, Varsolo Sunio, Jaime Mendejar

Finance and Accounting Faculty Publications

Successfully achieving a low-carbon transition in the transport sector requires an understanding of the lending logics of the financial institutions in order to identify the financing directionality and gaps. However, in the transportation literature, there is a lack of attention on the relationship between financing sources and the direction of innovation. The present study seeks to address this by mapping the flow of finance from financial institutions to transport projects. Our dataset consists of 9 transport projects included in the Philippines’ Nationally Determined Contribution (NDC). We consider different types of projects (rail development, bus rapid transit implementation, jeepney modernization) and …

Cryptocurrencies: A Craze Or Crazed?, Jesse L. Veenstra

Faculty Work Comprehensive List

"The craze of Bitcoin and the headlines of massive gains test the diligence and patience of investors."

Posting about ­­­­­­­­the benefits and pitfalls of cryptocurrencies from In All Things - an online journal for critical reflection on faith, culture, art, and every ordinary-yet-graced square inch of God’s creation.

https://inallthings.org/cryptocurrencies-a-craze-or-crazed/

Introduction To Financial Analysis, Kenneth S. Bigel

Open Touro Created

2022

This Open Textbook is a dynamic guide incorporating the essential skills needed to build a foundation in Financial Analysis. Students and readers will learn how to insightfully read a Financial Statement, utilize key financial ratios in order to derive forward-looking investment-related inferences from the accounting data, engage in elementary forecasting and modeling, master the theory of the Time Value of Money, and learn to price stocks and bonds in an environment in which interest rates constantly change. Ample problems and solutions, and review questions are provided to the student so that s/he can gauge his/her progress. This text will …

The Role Of Politics And Corruption In The Rise Of The African Firm, Wedu Ketema, Howard Jean-Denis

Seaver College Research And Scholarly Achievement Symposium

Many African businesses lag in financial performance compared to the performance of companies in the West. Despite this, the continent’s economic output has continued to rise considerably in the past two decades, but many of these economic achievements have been discredited. Despite the West’s view of Africa as a continent unprepared for economic growth due to simmering conflict, threats of terror, and other barriers to business, African business has continued to boom. Over the past two decades, Africa has made massive strides to “catch up to the West.” In fact, according to experts, many countries in Africa have experienced what …

Strategic Basic Research: Cognition And Suggestions, Xiaoxuan Li, Xiaoxi Xiao, Zhiyong Lou, Bing Zhu, Zihe Rao

Bulletin of Chinese Academy of Sciences (Chinese Version)

This paper sorts out and clarifies the concept of strategic basic research, and summarizes the international experiences in supporting strategic basic research. On this basis, it analyzes the main problems in supporting strategic basic research in China, such as the lack of top-level design, unclear funding objects, and insufficient sustainable and stable support. Some suggestions are put forward, such as setting up an independent strategic basic research program, taking the national strategic forces as the main forces to organize and implement the strategic basic research program, and establishing a dual-track supporting model that coordinates the directional project funding and the …

Characteristics And Funding Strategies Of Mathematical Research, Xiaoxi Xiao, Xiaoshan Gao, Yaxiang Yuan

Bulletin of Chinese Academy of Sciences (Chinese Version)

Strengthening mathematical research aiming at the national strategic needs and major frontier problems is conducive to promoting mathematics research to play a more important strategic role in national development and international competition. This study analyzes the basic characteristics of mathematical research, summarizes the international experiences in funding mathematical research, and then deeply analyzes the major problems of Chinese funding mechanisms for mathematical research, such as the lack of overall planning, the short of sustainable and stable support, and the urgent need to improve the training, selecting, and funding mechanism for high-level mathematical talents. It also puts forward some policy suggestions, …

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 …

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 …

Strategic Consideration And Recommendation On Development Of Chemistry In China, Yanlin Cheng, Shuxian Wu, Qing Dai, Chunying Chen, Yuliang Zhao

Bulletin of Chinese Academy of Sciences (Chinese Version)

Chemistry, as a central science linking all the other sciences, has played an influential role in promoting the development of the whole scientific and technological field and the prosperity of economy and society. Developed countries strongly support the development of chemistry and effectively promote the level of chemical research and chemical industry. Since the founding of the People's Republic of China, chemical research has been supported among the field of natural sciences, and its current level is at the forefront of the world. However, there are still problems in the field of chemistry research in China, such as insufficient major …

Research On Characteristics, Development Trend And Funding Countermeasures Of Biology, Jie Chen, Jing Qu, Zhiyong Lou, Bing Zhu, Le Kang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Strengthening the research in biology aimed at national strategic needs and major scientific frontier issues is conducive to giving full play to the strategic supporting role of biological research for national economic development and the promotion of international competitiveness. This article combs the basic characteristics and development trend of biology, summarizes the practical experience of international biological research funding, and analyzes the outstanding problems in biological research in China, such as incomplete layout, lack of sustainable and stable support, and insufficient funding for top talents and teams. By referring to the international practical experience, it puts forward policy suggestions to …

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 …

The Investment Gap: An Exploration Of Why So Few Women Study Finance At Brigham Young University, Elizabeth Anne Pearson

Undergraduate Honors Theses

This thesis explores the root cause of the systemic underrepresentation of women in the finance industry by investigating why so few women choose to study finance in college. It looks in depth at why there is a low percentage of women that graduate in finance from Brigham Young University each year by analyzing the survey responses of women in business majors across the Marriott School. The thesis discusses three areas of solutions for greater mentorship, transparency, and exposure that can be implemented through five actionable steps to help shift the dynamic of representation. While I do not aim to make …

High School Student Perspective: My Njit Stem For Success Internship Experience, Michael Mora

STEM Month

During the 2020-2021 school year, I was a senior at the Academy for Mathematics, Science, and Engineering (AMSE) in Rockaway, NJ. At AMSE, a STEM-focused four-year magnet high school program hosted at Morris Hills High School, participating in an extended internship senior year is a cornerstone of the learning process. Required to complete a STEM-related internship to graduate, Academy students are encouraged to seek out an internship they’re passionate about in a field of their choice. The internship, which must be conducted under the mentorship of an industry professional, must meet the New Jersey-approved standards for a work-based learning experience …

Fintech And Anti-Money Laundering Regulation: Implementing An International Regulatory Hierarchy Premised On Financial Innovation, Nicholas A Roide

Texas A&M Law Review

Innovations in financial technology (“fintech”) have rippling effects across global markets. Fintech firms utilizing virtual assets and disintermediating blockchain technology continue to rapidly grow in strength and number. As systemic risk mounts due to the inter-jurisdictional nature of fintech, antimony laundering (“AML”) regulators must search for an international answer to maintain global financial stability and protect consumers against illicit activities. A variety of solutions have appeared within local AML regulatory frameworks. These frameworks tend to function as a hierarchy with three ordered objectives: market integrity, rule clarity, and innovation. However, frameworks often place too much emphasis on market integrity and …

Undergraduate Certificant In Fin Tech, Joanna Burkhardt

Library Impact Statements

No abstract provided.

Graduate Certificate In Fin Tech, Joanna Burkhardt

Library Impact Statements

No abstract provided.

Central Bank Digital Currencies: Inevitable?, Harald Uhlig

Perspectives@SMU

Central banks are right to worry about CBDCs leading to runs on them. Is that better than letting the private sector influence monetary policy?

Entrepreneuring Ahead While Helping Others, Anna Haotanto

Perspectives@SMU

Anna Haotanto is a living example of what financial prudence and planning can create. In this month of celebrating women, her advice to women is to achieve financial freedom so that they too can finance their dreams

Customer Satisfaction Index Of Singapore 2021: Q4 Results, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time and across countries. The fourth quarter results mark the end of measurement for CSISG 2019. Singapore’s 2019 national score was computed using the data collected during these four quarters.

The Effect Of Company Financial Health On The Likelihood Of Cost Overruns, Brady C. Weaver

Theses and Dissertations

Financial ratio analysis has long been used to determine the financial health of firms and project business performance. Despite the usefulness of financial ratio analysis, risk analysis in defense acquisitions largely ignores these indicators of company financial well-being. This research performs contingency table statistical analysis to determine if a relationship exists between company financial ratios and their future cost performance on Air Force contracts. The general findings are that poor financial ratios at the time of contract start are related to increased likelihood of cost overruns on that contract. Specifically, recent trends of a company’s current ratio in comparison to …

Green, Blue Or Black, But Washing–What Company Characteristics Determine Greenwashing?, Silvia Ruiz-Blanco, Silvia Romero, Belen Fernandez-Feijoo

Department of Accounting and Finance Faculty Scholarship and Creative Works

The purpose of this paper is to study what are the characteristics that make firms less or more prone to greenwashing. We collect data from sustainability disclosures of the S&P top 100 companies, to investigate the determinants of greenwashing. We use content analysis to measure the level of reporting of the companies. We define the “greenwashing” variable as the difference between what the company says it does in terms of commitment to sustainability, and what the company actually does as evaluated by external parties (Bloomberg ESG scores). Our results show that companies in environmentally sensitive industries greenwash less than their …

Insider Sales Under The Threat Of Short Sellers: New Hypothesis And New Tests, Kemin Wang, Rencheng Wang, K. C. John Wei, Bohui Zhang, Yi Zhou

Research Collection School Of Accountancy

Using the Regulation SHO program as a quasi-experiment, we document that the threat of short selling has a negative effect on the volume of opportunistic insider selling and a positive effect on its profitability for each transaction. These effects are stronger among firms with higher litigation risk, greater media coverage, and executives who have more of their firms' stock-related holdings. We further find robust evidence when we extend the analyses to short selling deregulations in the Chinese and Hong Kong stock exchanges. Overall, our findings suggest that short sellers play a disciplinary role in opportunistic insider selling.

Expected Return, Volume, And Mispricing, Yufeng Han, Dashan Huang, Dayong Huang, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

We find that expected return is related to trading volume positively among underpriced stocks but negatively among overpriced stocks. As such, trading volume amplifies mispricing. Our results are robust to alternative mispricing and trading volume measures, alternative portfolio formation methods, and controlling for variables that are known to have amplification effects on mispricing. By attributing trading volume to investor disagreement, we show that our results are consistent with the recent theoretical model of Atmaz and Basak (2018) in that investor disagreement predicts stock returns conditional on expectation bias.

Financial Intermediaries And Contagion In Market Efficiency: The Case Of Etfs, Claire Yurong Hong, Frank Weikai Li, Avanidhar Subrahmanyam

Research Collection Lee Kong Chian School Of Business

Capital constraints of financial intermediaries can affect liquidity provision. We investigate whether these constraints spillover and consequently cause contagion in the degree of market efficiency across assets managed by a common intermediary. Specifically, we provide evidence of strong comovement in pricing gaps between ETFs and their constituents for ETFs served by the same lead market maker (LMM). The effects are stronger for ETFs that are more illiquid and volatile, when the underlying constituents of the ETFs are more costly to arbitrage, and for LMMs with more constrained capital. Using extreme disruptions in debt markets during COVID-19 as an experiment, we …

How Do Firms Respond To Reduced Private Equity Buyout Activity?, Yi-Hsin Lo

Research Collection Lee Kong Chian School Of Business

This paper presents new evidence on the economic role of private equity buyouts by exploiting the staggered adoption of the constructive fraud provision by U.S. state courts. The law unintentionally shifts the credit default risk borne by existing unsecured creditors of the buyout target to the selling shareholders and lenders in the form of ex-post litigation risk, thereby discouraging buyout activity. Using a difference-in-differences framework, I find that firms raise less capital, reduce payouts and investments, and form alliances with employees. Firms also avoid positive NPV projects that carry too much risk. These findings are consistent with managers enjoying a …

Special Issue On Green And Ethical Finance, Thorsten Beck, David G. Fernandez, Bihong Huang, Peter Morgan

Research Collection Lee Kong Chian School Of Business

This special issue includes several papers that focus on green and ethical finance. The climate change challenge has raised important questions about the financial sector's role in realizing a carbon-neutral global economy. The global financial crisis also brought critical ethical and governance questions for financial sector actors to the forefront. Such developments have together increased attention to environmental, social and governance (ESG) issues among financial sector practitioners, regulators, and investors. Recently, there has been an increasing focus of finance researchers on issues related to ESG and climate change, reflected also in the increasing number of submissions and published papers in …

Analyzing The Impact Of Digital Payment On Efficiency And Productivity Of Commercial Banks: A Case Study In China, Haopeng Wang, Aldy Gunawan

Research Collection School Of Computing and Information Systems

Digital payment has become one of the most popular payment methods all around the world, especially in countries that witnessed the rapid development of internet. As a traditional financial institution, commercial banks have been impacted by newly developed payment technology since third payment platforms have attracted customers to use the digital payment for daily consumption, transferring, and even investment. This paper focuses on analyzing whether and how the commercial banks in China have been affected by digital payment by using empirical methods. Systematic Generalized Method of Moments (SYS-GMM) is used to test the relationship between the productivity of commercial banks …

Analysis Of Cost And Schedule Estimation Trends For Major Defense Acquisition Programs, Sammantha J. Jones

Theses and Dissertations

This study uses both descriptive and inferential techniques to investigate trends in cost and schedule estimates created by the Department of Defense for their Major Defense Acquisition Programs (MDAPs) throughout the last five decades. For schedule growth percentages, we did not identify any statistically significant trend regarding increasing or decreasing schedule changes or variances of schedule estimates throughout the five decades analyzed. Examining the overall cost growth of MDAPs, a statistically significant difference between the Cost Growth Factors (CGFs) calculated between the 1990s and the 2010s was found, with the 2010s exhibiting lower CGFs. A downward trend in the variances …

Cryptocurrencies, Diversification And The Covid-19 Pandemic, David E. Allen

Research outputs 2022 to 2026

This paper features an analysis of cryptocurrencies and the impact of the COVID-19 pandemic on their effectiveness as a portfolio diversification tool and explores the correlations between the continuously compounded returns on Bitcoin, Ethereum and the S&P500 Index using a variety of parametric and non-parametric techniques. These methods include linear standard metrics such as the application of ordinary least squares regression (OLS) and the Pearson, Spearman and Kendall’s tau measures of association. In addition, non-linear, non-parametric measures such as the Generalised Measure of Correlation (GMC) and non-parametric copula estimates are applied. The results across this range of measures are consistent. …