Finance and Financial Management Commons^™

Don't Make Me Look Bad: A Study On The Relationship Between Ceo Narcissism And Opinion Shopping, Ali Jon Kooti

Theses, Dissertations and Capstones

CEO narcissism has become an urgent growing trend in business and accounting literature lately due to its strategic impact on CEO behavior and decision-making. Similarly, the opportunistic behavior of audit opinion shopping is a well-known concern among U.S. and international regulators and has been the subject of academic research for decades. This study investigates the association between the two. Specifically, this study examines whether narcissistic CEOs, motivated by their need for positive self-image, recognition, and praise, as well as their fear of adverse effects on their status and compensation, engage in opinion shopping in order to avoid receiving an unfavorable …

Local Institutional Investors And Corporate Monitoring: Evidence From Cross-Listed Korean Stocks In The Us Market, Changhwan Choi, Chune Young Chung, Jun Myung Song

Sim Kee Boon Institute for Financial Economics

Using Korean firms that are cross-listed in the US market, this paper investigates whether there are standalone effects of geographic and market proximity of institutional investors on monitoring performance. We find that Korean institutional ownership is negatively associated with earnings management while the US institutional ownership has no impact on earnings management. This suggests that there is the geographic proximity advantage over the market proximity advantage in the emerging markets. Furthermore, we also show that the impact of geographic proximity is stronger for firms with high informational opacity

Institutional Herding And Investor Sentiment, Xu Guo, Chen Gu, Chengping Zhang, Shenru Li

Faculty Publications - College of Business

We investigate the role of investor sentiment in institutional herding behavior and its impact on stock prices. We find that institutional investors exhibit more herding behavior during periods of high sentiment, which has a significant impact on stock prices. Our results show that herding has a stabilizing effect on the stock market when investor sentiment is low, while it causes price distortions when sentiment is high. We also show that the impact of sentiment on price is particularly pronounced for small, non-profitable, low tangibility, high-growth firms.

Fixed Income Fund Report, January 2024, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Dad’S New Car, Ahmed Ali Siddiqui

IBA Press

No abstract provided.

The Saim's Bookstore & Harmony Bank, Ahmed Ali Siddiqui

IBA Press

No abstract provided.

A Journey To Our Dream House, Ahmed Ali Siddiqui

IBA Press

No abstract provided.

Yusuf's First Bank Account, Ahmed Ali Siddiqui

IBA Press

No abstract provided.

Yusuf’S Saving Goal, Ahmed Ali Siddiqui

IBA Press

No abstract provided.

Facilitating Factors For Female Leadership In Finance, Haleigh Woloszak

Honors Program Theses

High levels of gender inequity remain in finance leadership positions. This research is interested in the factors that facilitate female leadership in finance roles as opposed to the challenges women face in this industry. Through semi-structured interviews and thematic analysis, this paper explores the education, career development, organizational practices, professional support networks, and personal factors of successful women in finance. Commonalities among interviewee’s responses suggest that capabilities, one’s perspective on their career, personal support and domestic responsibility, and workplace relationships play a role in the success of the women in our sample. Additionally, participants discuss in depth specific organizational and …

Risky Business: Executive Compensation Attributes And Enterprise Risk Management, Stephanie Austin-Campbell

Doctor of Business Administration Dissertations

Banks are among the most powerful corporations across the globe. The banking sector is the lifeblood of the economy, and excessive bank failure can have devasting consequences for economies worldwide. The economic crisis of 2008 began in the U.S. and encapsulated other countries. Using regression analysis models, this study examined the relationship between specific executive compensation elements and the organizational strategies used to manage enterprise risk through the lens of Behavioral Agency Theory (BAM). BAM is incorporated into the study to explain how different forms of executive compensation influence executives’ tendencies to appropriately mitigate gains and losses. Historically, incurred agency …

Corporate Decision-Making: Three Essays In Applied Finance, Mohamed Ahmed Abd El Rahman Ahmed Khashbah

CGU Theses & Dissertations

Corporate Decision-Making: Three Essays in Applied Finance.By Mohamed Ahmed Abd El Rahman Ahmed Khashbah Claremont Graduate University: 2024 This dissertation consists of three distinct chapters, each focusing on a different topic. Chapter 1 of this dissertation investigates the relative effectiveness of earnings and cash flows as predictors in corporate decision-making processes within the U.S. financial market. Drawing on two decades of comprehensive financial data from Compustat, encompassing the years 2000 to 2019 and involving 18,595 firm-year observations across 980 diverse companies, this study employs a robust methodological framework. Advanced statistical techniques, including regression and correlation analyses, alongside firm-specific time-series and …

Confronting Ai-Induced Power Disparity And Emotional Disruption: Expansive Duties Of Broker-Dealers And Investment Advisers, Shuping Li, Wei Shen

Northwestern Journal of International Law & Business

The increasing use of AI models in investment services has raised concerns about ineffective responses, power disparity, and investor harm caused by emotional disruption. Generative AI-driven investment service providers often fail to address consumer issues quickly, guiding customers through superfluous and meaningless verbiage or professional terminology in infinite loops without providing an option to talk with a human customer service staff. Customers who are “stuck” in ineffective or inaccurate responses from AI agents may waste time for investors, make poor investment or trading decisions, and the platform may profit from investor rational decision-making owing to investors’ emotional disruption.

This article …

The Budget, Fiscal Year 2024-2025, Tennessee. Department Of Finance And Administration

Budget Volume 1

This document is the final budget for the coming fiscal year.

Three Essays On Financial Information, Disclosures, And Ethics, Ankit Kapur

Finance and Real Estate Dissertations - Archive

This dissertation aims to study the impact of different sources of financial information and corporate policies on outcomes that are relevant to researchers, regulators, finance professionals, financial institutions, and investors.

In the first essay, I show that credit rating change announcements disclose a new form of value-relevant information to the market. Issuer credit rating downgrades (upgrades) inform the market about equity underpricing (overpricing). This is reflected by a significant association between a firm’s downgrade (upgrade) and increase (decrease) in the anomalous stock underpricing (overpricing). Furthermore, I show how this mispricing gets corrected over time by analyzing the returns after the …

Three Essays On Investment Decisions And Stock Price Crash Risk, Andi Li

Finance and Real Estate Dissertations - Archive

My dissertation explores two main themes: institutional investors' investment decisions and stock price crash risk. The first essay analyzes how institutional investors manage their portfolios in the context of economic policy uncertainty. The second essay examines the effect of employee ownership on a firm's stock price crash risk, while the third essay investigates how the concentration of institutional ownership affects the stock price crash risk.

My first essay investigates the impact of economic policy uncertainty on institutional investors’ holdings of common stocks. Using a large sample of quarterly institutional ownership data from 28 countries/markets between 2000 and 2021, I find …

Taking Flight Or Taking A Pass? Exploring Factors Influencing Consumer Willingness To Pay For Evtol Travel, David C. Ison

International Journal of Aviation, Aeronautics, and Aerospace

The Advanced Air Mobility (AAM) industry is experiencing significant growth due to technological advancements and increasing demand for efficient travel experiences. The market is expected to reach $45 billion by 2030, with major players like Joby, Archer, Beta, and Wisk dominating. This study aimed to assess public willingness to pay for AAM services using eVTOLs, using Amazon's Mechanical Turk platform. The survey yielded a response rate of 85.8%, with 1,622 completed surveys. The study found that younger urban consumers were more willing to pay higher prices for AAM electric vertical takeoff and landing (eVTOL) aircraft trips than older participants, possibly …

Nike's Product Recommendation System And Incorporation Of Ai, Quinton Truman Lamers

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

Endogenous Market Choice, Listing Regulations, And Ipo Spread: Evidence From The London Stock Exchange, Hafiz Hoque, John Doukas

Finance Faculty Publications

This study examines the endogenous market choice and its impact on underwriter spread if Alternative Investment Market (AIM) IPOs that meet Main Market (MM) listing requirements had issued equity in the MM during the 1995–2021 period. We find that the spread is 1.33% higher in the AIM than the MM for IPO listings that meet the MM listing requirements. This finding suggests that AIM companies, meeting the MM listing requirements, could have saved more than £100 million by going public through the MM than the AIM market. We also find that this spread differential is attributed to the issuing firms' …

Volatility Transmission: Evidence From U.K. Reit & Stock Market Implied Volatility, Mutale Katyoka, Simon Stevenson

Finance Faculty Publications

This paper investigates volatility transmission in the U.K. REIT market. It considers how REIT volatility is related to implied volatility in both the overall stock market as well as that derived from traded options on REIT stocks. The multivariate analysis utilizes both Constant Conditional Correlation (CCC) and Dynamic Conditional Correlation (DCC) GARCH specifications to analyze the interdependence of the data. The findings confirm the presence of volatility transmission across the implied volatility of U.K. REITs, the U.K. implied volatility index, and the U.K. REIT index. The study also applies the variance decomposition approach proposed by Diebold and Yilmaz to examine …

Do Networks Matter In Real Estate? Real Estate Agent Performance Through Network Analysis, Ani Khachatryan

Finance and Real Estate Dissertations - Archive

The role of real estate agents as intermediaries in property transactions is well-established. However, the extent to which their positioning within professional networks influences transaction outcomes remains to be discovered. Drawing inspiration from network theory, this dissertation explores the relationship between real estate agent networks and performance metrics. Using a comprehensive dataset of Tarrant County, Texas, MLS transactions spanning 2002-2022, I test how agent network size and position relate to the property sale price and time on the market (TOM). The analyses suggest that network positioning could be pivotal in determining transactional outcomes. This study promises to fill a gap …

Climate Change Concerns And Mortgage Lending, Tinghua Duan, Frank Weikai Li

Research Collection Lee Kong Chian School Of Business

We examine whether beliefs about climate change affect loan officers’ mortgage lending decisions. We show that abnormally high local temperature leads to elevated attention to and belief in climate change in a region. Loan officers approve fewer mortgage applications and originate lower amounts of loans in abnormally warm weather. This effect is stronger among counties heavily exposed to the risk of sea-level rise, during periods of heightened public attention to climate change, and for loans originated by small lenders. Additional tests suggest that the negative relation between temperature and approval rate is not fully explained by changes in local economic …

Shadow Bank, Risk-Taking, And Real Estate Financing: Evidence From The Online Loan Market, Xiaoying Deng, Chong Liu, Eng Seow Ong

Research Collection Lee Kong Chian School Of Business

This paper examines whether and how individual risk-taking behavior affects real estate financing through shadow banks. Using the loan data from an online platform in China, we show that riskier households tend to employ online loans to meet the increasing down-payment in their home purchase. Individual investors are likely to fund riskier real estate loans with higher expected returns. Real estate loans experience higher ex-post default rates than other types of loans. The effect is more pronounced during the period of credit constraints.

Disruptive Change Within Financial Technology: A Methodological Analysis Of Digital Transformation Challenges, Laurie Hughes, Jonathan J. M. Seddon, Yogesh K. Dwivedi

Research outputs 2022 to 2026

The digital transformation of the FinTech industry has revealed a plethora of significant challenges for industry decision makers and wider stakeholder groups as organisations contend with the onset of new regulatory frameworks, legacy systems, flexible business models and alignment with corporate social responsibility practice. The reshaping of organisations and drive to greater levels of decentralisation and employee centric practice, presents a cultural shift for the sector, with implications for the success and resulting benefits of change across the industry. This study aims to develop novel insight to the ‘lived in’ impact of digital transformation within the FinTech industry from a …

Effects Of Physical Activity Intervention On Reducing Neck And Upper Extremity Pain Intensity For Female Office Computer Workers, Peng Cheng Sung, Tiffany Chiu, Yunsen Wang

Department of Accounting and Finance Faculty Scholarship and Creative Works

The computer usage among office workers had increased tremendously in past recent years and the surge in computer usage has created a surge in work-related musculoskeletal disorders (WRMSDs) on arm, neck, and shoulder. For prevalence of musculoskeletal symptoms in relation to gender and age, females had higher risk and prevalence of upper limb complaints and the prevalence of WRMSDs generally increases with age. Systematic review studies had reported effectiveness of various physical activity (PA) interventions on improvements of upper extremity musculoskeletal disorders (UEMSDs) or neck pain for office workers. However, the degree of adherence of PA interventions with WHO guidelines …

Leading Financial Indicators Of Corporate Bankruptcy, Macee Patritti

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

A Time Series Geometric Term Structure Model: Indications For U.S. Treasury Yield Curve Interpretation And U.S. Federal Funds Target Rate Forecasting, Danny L. White

Doctor of Business Administration (DBA)

This quantitative experiment executed an extensive study of the theoretical and exploratory development of a discrete step Federal Funds Target Rate (FFTR) forecast model expressed as the time series geometric average of an applied transform conversion of the U.S. Treasury Yield Curve (USTC). The novel approach, introduced as the Geometric Yield Curve (GYC) model, used USTC data taken directly from the U.S. Treasury Department website as its only input for term structure of interest rate modeling specific to the FFTR. A transform process, presented as term framing, introduced conversion of USTC embedded macroeconomic and macro-finance trend information into a daily …

Unattended In-Home Delivery Under Varying Scenarios Of Technology-Enabled Anonymity, James C. Brau, Hugo A. Decampos

Faculty Publications

Whereas many companies have explored attended in-home delivery as one solution to challenges associated with last mile delivery, few have explored unattended in-home delivery. This paper examines consumer willingness to allow unattended in-home delivery under various scenarios of anonymity. Specifically, we study how blockchain-enabled anonymity of sellers, delivery companies, and consumers can influence consumer willingness to allow unattended in-home delivery of a nutritional product in this last mile service triad. Hypotheses build on agency theory and the potential for information asymmetry and opportunism. The analyses are based on data from 784 responses to an online survey of end-consumers who were …

The Impact Of Changing Disclosure Requirements, Competition, And Private Capital On Firm Exit Methods And Premiums, James C. Brau, Ninon K. Sutton, Qiancheng Zheng

Faculty Publications

Changing disclosure requirements and the evolution of US markets in the 21st century have created historic shifts in the exit strategies and payoffs for private firms. The propensity to sell to an acquirer has dominated firm exits in recent decades, especially for smaller private firms in highly concentrated industries. Exceptions to the merger exit preference are venture capital‐backed firms, which exhibit an enduring preference for IPOs, likely due to the reputation effects associated with this strategy. While the premium for IPO exits has exceeded that for M&A exits in the past, we document a reversal in this pricing trend: in …

Revisiting The Effect Of Bank Deregulation On Income Inequality, William B. Hankins, Anna-Leigh Stone, Gary Hoover

Research, Publications & Creative Work

We use recently developed difference-in-differences methodologies and a panel of U.S. states over the period 1960 – 2015 to examine how bank branching deregulation impacted state-level income inequality. Existing research relying on traditional two-way fixed effects (TWFE) estimates and event studies provide mixed results. However, these results potentially suffer from biases due to treatment effect heterogeneity and the failure to account for multiple related treatments. Using bias-corrected difference-in-differences procedures and properly accounting for the timing of treatment, we find evidence that the combined effect of intrastate and interstate banking deregulation increased the income share of the top 10%, 5%, and …