Finance and Financial Management Commons^™

Ipo Waiting Period In Pakistan, Tayyeba Zanib, Muhammad Zubair Mumtaz

Business Review

This study examined the IPO waiting period from offering to the first trading day listed on the Pakistan Stock Exchange from 1995 to 2018. We find that firms that float shares to the general public have passed through multiple layers of inspection by underwriters, auditors, institutional investors, and regulatory bodies. The waiting period of the unseasoned issue is an essential predictor of uncertainty associated with a firm. To test this proposition, we first determine the endogenous and exogenous factors that influence IPO waiting period. The results confirm that the firms offer price, percentage of shares after issuance of IPO, book …

Behavioural Intention Of Investors Regarding Trading Apps In India With An Implication Of Utaut Model, Mohan Anand, V.S. Abhilash

Management Dynamics

Behavioral intention is the prime concern while opting and using a product or service. The study is conducted to understand the investor’s behavioral intentions towards the trading app in India, using the UTAUT model. The primary data were collected using a structured questionnaire whereas, secondary data were collected from the company website, journals, and so on. The responses were collected from 395 investors which include both existing and prospective users of the app. Using SPSS, chi-square, etc., were performed to understand the significant relationship and difference between the variables in determining the behavioral intention. The study concluded the influence of …

University Social Responsibility From The Transformative Ecofeminism Perspective, Luky Patricia Widianingsih, Iwan Triyuwono, Ali Djamhuri, Rosidi Rosidi

The Qualitative Report

This study aims to find conceptual innovations, with a focus on the scope of University Social Responsibility in the perspective of transformative ecofeminism. The basic belief that guides action in this research is the transformative worldview. The research approach is based on feminism with the data collection process carried out by observation, in-depth interviews, documentation, and FGDs. The two data research rigour strategies chosen were to maintain the credibility (internal validity) and reliability of the research data through triangulation of techniques and sources and to carefully review the documentation of research procedures/protocols and databases. The presentation of data and the …

Central Bank Independence: An Examination Of Monetary And Economic Stability Through Ordinary And Extraordinary Times, Carroll Griffin, Yun Cheng

Southern University College of Business E-Journal

The idea of central bank independence (CBI) has been widely accepted over the last several decades by many countries around the world, both developed and developing. As such, many countries around the world granted autonomy to their central banks during the 1980s and 1990s. Although the majority of past studies have primarily examined the impact of central bank independence on inflation, there is only now sufficient date to empirically determine whether many of these claims are true. This study examines central bank independence over the long-term (1960 to 2015) to determine to what extent central bank independence has helped to …

Can Blockchain-Supply Chain Announcements Create Shareholder Value? Evidence From An Event Study For International Initiatives, Alyaa Saleh

Theses and Dissertations

This study investigates how Blockchain based Supply chain (BC-SC) announcements impact the stock market performance of the announcing firms. Using a sample of 104 news and firm announcements between 2016 and July 2021, we conduct an international event study to determine the effect of BC-SC announcements on the market performance. We find that an overall significantly positive market reaction of 1.45% to all BC-SC announcements on the announcement day. In addition, we find that the stock market reaction slightly differs when different SC challenges are targeted by the announcing firm. When blockchain is used for traceability purposes, the market response …

Leadership Through Budgeting: Controlling Taxes And Increasing Services, Tony Sims

Certified Public Manager® Applied Research

Local budgets are the key responsibility of elected and appointed leaders, as are ultimate control over how tax dollars are allocated, and which services are provided to the citizens. Nowhere else is leadership more important than during budget preparation. However, local budgeting is typically more an annual event than an ongoing efficient and effective process. By implementing a budgeting process and preparing a budget in accordance with the criteria required by the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation Award Program and earning the award, local governments can create more efficient and effective operations, improve public trust, and have …

Guess Who Is Not Using Mobile Money In Sub-Saharan Africa?, Aparna Gosavi

Southern University College of Business E-Journal

Mobile money, which is a mobile-phone-based service, sends and/or receives money across a wide geographical area with just a touch of a mobile-phone button. This particular financial product was initially introduced in Kenya in the early part of 2007. Within the first six months of its introduction in Kenya, more than two million people enrolled for the service, partly because the utility emerged as a handy tool for urban migrants to send money back home to their families who resided in villages. This overwhelming response to the service was mainly because of its convenience, safety, and speed. Now, in Sub-Saharan …

Impairment Recognition And Revaluation– China Publicly Listed Companies, Ying Wang

Southern University College of Business E-Journal

The advent of SFAS 142 and IAS 36 regarding handling of asset impairment has spawned research into how these standards influence whether an impairment loss is recorded. Deferred tax items in China have three major components: temporary tax and financial reporting differences in depreciation; impairment losses; and previous losses, which can be carried forward for five years for tax purposes. While the temporary differences in depreciation typically defer taxes and create deferred tax liabilities, impairment losses and previous losses create deferred tax assets because they are not deductible in the current period for tax purposes. A deferred tax asset is …

Cohesive Top Management: The Role Of Diversity And Human, Drake Mullens

Southern University College of Business E-Journal

Objective: In the context of family firms, this research endeavors to establish human capital as an antecedent of top management team transactive memory systems and examine the deleterious effects of non-family managers on that team. Additionally, the interaction of non-family managers and human capital on the top management team transactive memory system is considered. Methodology: Primary data were collected from 151 executives at Automobile and Motorcycle dealers. Linear regression analysis was utilized to test the hypothesized relationships. Findings: Human capital is an important antecedent to the development of transactive memory systems in family firms. Non-family managers’ participation in the top …

Will More Technology In Accounting Become Another Barrier To Attracting And Retaining Black Students To The Profession?, Darlene Booth-Bell, Kristen E. Broady, Axsel Brown

Southern University College of Business E-Journal

Automation in the form of drones, machine learning, computer vision, robotic process automation, artificial intelligence, and robotic software applications will continue to increase productivity and reduce the need for some workers. While there may not be an immediate reduction in accounting professionals, data analytics has begun to shift the primary skill sets needed for accountants in the United States and abroad. In this paper, we identify and discuss the main challenges the profession faces in attracting black students to the profession. Additionally, we present a theoretical discussion of the challenge of ensuring that as more accounting work moves from traditional …

Analysis Of The Comovement Of Unemployment In Midwestern States, Tammy Rapp Parker

Southern University College of Business E-Journal

The current paper investigates the interrelatedness of twelve Midwestern states through the comovement of unemployment rates. Due to their geographic location, we would anticipate similarities and comovement among macroeconomic variables. The results show that although most of the bivariate pairings do show a relationship. Five of the sixty-five pairings show no indication of cointegration among their unemployment rates. Each of these five pairings includes North Dakota. The paper investigates geographic and socioeconomic similarities between these states to try to explain these results.

Baumol And Bowen Cost Effects In Research Universities, Robert E. Martin

Southern University College of Business E-Journal

We estimate cost models for both public and private research universities and use partial differentials from these models to estimate different cost effects. The results suggest both Baumol’s cost disease and Bowen’s revenue theory drive cost higher and that Bowen effects are larger than Baumol effects. Tight revenue since 2008 reversed some declines in productivity and accelerated the trend in economizing on the use of tenure track faculty. This behavior under loose and tight revenue constraints is consistent with Bowen’s revenue theory.

The Additional Burden Of The Bank Security Act On Community Banks In States With Casinos, Danielle Lewis

Southern University College of Business E-Journal

Deeply embedded compliance costs are difficult to account. We modeled non-interest expenses using all U.S. community banks and found the 2001 USA Patriot Act increased the compliance burdens, but particularly for banks with casinos in their state. Changes in policy pertaining to the Bank Secrecy Act include Congress modernizing the BSA provisions because the rules leave excessive room for interpretation and subjectivity across examiners and courts. Additionally, a publication showing the effectiveness of BSA reporting could benefit bankers and help make compliance more cost efficient.

Credit Market Innovations And Gross Domestic Income, Ellis Heath

Southern University College of Business E-Journal

In this paper I compare the effects of different credit variables on real output in the US. However, instead of using real Gross Domestic Product as a proxy for real output, I use real Gross Domestic Income. I use a VAR framework with generalized impulse response functions and generalized variance decompositions. I look at a credit aggregate and different credit spreads. I find that shocks to some credit variables can have significant effects on real output; the reaction, however, is a temporary one. Specifically, measures of the risk premium and the term premium have the most importance in explaining innovations …

Tesla Vs. Its Stock Price: “Herd Theory” At Work?, Yun Cheng, Carroll Griffin

Southern University College of Business E-Journal

Since its inception in 2003, Tesla, Inc. has striven to be more than simply an electric automobile manufacturer. Since its first release in 2008 (the luxury Roadster), the company has introduced several additional high-end models as well as a much anticipated mid-priced model. Its vehicles consistently receive enthusiastic reviews from consumer analysts and industry publications alike. Perhaps as a reflection of its continued innovation and product-line expansion, as well as investor optimism regarding the company’s future prospects, its stock price has risen to extraordinary levels. However, despite all of this apparent success and highly-valued stock, Tesla has generated relatively little …

The Role Of Institution Based Trust In Iot Environment: A Theoretical Model, Anupam K. Nath

Southern University College of Business E-Journal

Internet of Things (IoT) is rapidly gaining popularity at the industrial as well as personal level. This rapid adoption of IoT has created privacy, security, and other relevant concerns. In this paper, we develop a theoretical model based on the Trust-based model that can help us understand a user's adoption of an IoT device.

Tax Management, Ownership Structure And Corporate Governance, Ying Wang, Scott Butterfield

Southern University College of Business E-Journal

We use 2010-2018 publicly listed Chinese company data to analyze how ownership structure and corporate governance affects tax management. Our results indicate that diverse ownership structure might lower a company’s tax rates, whereas traditional corporate governance measures, such as board size, independent board member percentage and duality of CEO serving as chair do not affect tax.

2017 Tax Cuts And Corporate Investment And Financing Decisions: An Empirical Investigation, Rakesh Duggal

Southern University College of Business E-Journal

The Tax Cuts and Jobs Act of 1917 (TCJA) amended the Internal Revenue Code of 1986 and significantly lowered the corporate tax rate, in addition to providing other tax incentives to spur corporate investments. The TCJA has the potential to impact corporate cash flows and corporate investment and financing decisions. In response to the TCJA, firms could enhance their capital expenditure budgets, return excess capital to shareholders, and/or hold excess capital for better opportunities in the future. Using S&P 500 firms as a sample, this study finds no statistical difference in the actual corporate taxes paid in the post-and pre-TCJA …

Improving The Format Of Financial Tables, Joseph Donelan

Southern University College of Business E-Journal

This paper empirically examines the effects of information format on human judgment accuracy. The theoretical framework is based on the lens model of human judgment (Brunswick, 1952). An experimental design is used to test for differences in human judgment accuracy in a bond rating task. The results indicate that the use of certain table simplification techniques does not improve decision accuracy.

Understanding Different Biases That Affect Theinvestor Decision Behaviour, Ashi Bansal, Kritika Arora, Manasi Mishra, Mohammad Haider, Shubham Sharma, Simran Gupta, Nidhi Singh

Management Dynamics

No abstract provided.

Role Of Financial Literacy And Self-Efficacy On Bias And Investment Decision Making, Ananya Tripathi, Niharika Agrawal, Kaushik Sharma, Gaurav Pandey, Shivam Verma, Smally ., Shrishti Mittal, Nidhi Singh

Management Dynamics

No abstract provided.

Behavioural Finance Effect On Stock Price Trends During Covid-19 Pandemic, Arpita Jain, Siddhi Agrawal, Simanta Goswami, Sidhant Banga, Suryakant Kumar, Nidhi Singh

Management Dynamics

No abstract provided.

Differentiated Banking In India: The Road Ahead, Akshay Kumar Mishra

Management Dynamics

No abstract provided.

Impact Of Orientation Program On Teacher's Performance, Akshay Kumar Mishra

Management Dynamics

No abstract provided.

Building Sustainability And Impact Into Accounting, Hajar Yagkoubi, Eelco Van Der Enden, Eszter Vitorino, Reynir Indahl, Tjeerd Krumpelman

Perspectives@SMU

Can it be done? The answer is yes but it depends on solid academic research, investor pressure, and good old lobbying

Is The Crypto World Having Its Own 2008 Lehman Brothers Moment?, Eric Lim

Perspectives@SMU

Cryptocurrency markets have tumbled in recent times due to the age-old story of greed, arrogance and disregard for responsibility, writes UNSW Business School’s Eric Lim

Fabrication Runtime Decision For A Hybrid System Incorporating Probabilistic Breakdowns, Scrap, And Overtime, Yuan Shyi Peter Chiu, Yunsen Wang, Tsu Ming Yeh, Singa Wang Chiu

Department of Accounting and Finance Faculty Scholarship and Creative Works

Manufacturers today need to optimize their fabrication runtime decision by meeting short customer order due dates externally and managing the potentially unreliable machines and manufacturing processes internally. Outsourcing and overtime are commonly utilized strategies to expedite fabricating time. Additionally, detailed analyses and necessary actions on inevitable product defects (i.e., removal of scraps) and equipment breakdowns (such as machine repairing) are prerequisites to fabrication runtime planning. Motivated by assisting today’s manufacturers decide the best batch runtime plan under the situations mentioned above, this study applies mathematical modeling to a hybrid fabrication problem that incorporates partial overtime and outsourcing, inevitable product defects, …

Community Bank Liquidity: Natural Disasters As A Natural Experiment, Kyle D. Allen, Matthew D. Whitledge, Drew B. Winters

Finance Faculty Publications and Presentations

We examine how community banks respond to liquidity shocks created by natural disasters. We address community banks’ responses to liquidity shocks due to their focused geographic and economic presence, which coincide with their communities’ exposure to the disasters and the ability of the local banks to meet their needs. We find that community banks respond to liquidity shocks by managing their balance sheet, rather than any single balance sheet account. In particular, we find that they respond to the liquidity needs of their communities by increasing loans as deposits are withdrawn.

Empirical Essays On Contingent Convertible Capital Securities, Andrea Golfari

Dissertations, Theses, and Capstone Projects

This dissertation consists of five chapters on contingent convertible capital securities, their macroprudential role within the regulatory capital stack of financial institutions, and the effects of the regulatory environments surrounding them on their design.

Chapter 1 This chapter briefly introduces this dissertation, including its motivation and structure.

Chapter 2 The first part of this chapter describes every design feature of contingent convertible capital instruments (CoCos) and provides a review of the literature on their role as macroprudential tools and on optimal CoCo design. The second part of the chapter offers a complete discussion of the role assigned to CoCos in …

Essays On Financial Materiality Of Corporate Social Responsibility And Corporate Strategies, Yang Lan

Dissertations and Theses Collection (Open Access)

This dissertation investigates how the endorsement of certain social activities by CSR standards impacts stakeholders’ interpretation on firms’ motivation of doing CSR and how managers make decisions on which specific CSR activities they would like to participate in. The first essay examines how the standards release of CSR by Sustainability and Accounting Standards Board (SASB) affects the relationship between material CSR and firm performance outcomes in terms of stock returns (for investors) and sales growth (for customers), through shaping investor and customer perceptions on the motivation underlying a firm’s material CSR activities. I further argue that a sharp increase in …