Finance and Financial Management Commons^™

Financial Analysis With Artificial Neural Networks Short-Term Stock Market Forecasting, Andrew Linzie

Undergraduate Honors Theses

Excerpt from Introduction

Seldom reward is absent from risk, and stock markets are a prime example. Stock markets across the world are viewed as profitable and risky at the same time. Companies have made a business out of forecasting these markets. Quantitative analysis companies use mathematicians, financial analysts, and computer scientists to compete in the stock market. The old days of floor trading have progressed towards high-frequency trading with supercomputers housed within the exchange. For example, the New York Stock exchange has created regulations for these companies so that there’s competitive equality. The computer’s power, length of cable to the …

Hedge Fund Boards And The Market For Independent Directors, Christopher P. Clifford, Jesse A. Ellis, William C. Gerken

Institute for the Study of Free Enterprise Working Papers

We provide the first examination of hedge fund boards and their directors. The majority of directorships are held by extremely busy independent directors. These directors are sought after by funds because they have more reputational capital at stake, making them independent and credible monitors whose presence can certify fund quality to investors. Busy independent directors are more likely to be hired by high quality funds, and their departure from the board is associated with investor withdrawals. Moreover, funds with busy independent directors are less likely to commit fraud, abuse discretionary liquidity restrictions, or engage in performance-based risk shifting.

Banking On It: Investment Banks As The Next Step For Impact Investing, Mitchell Laferriere

Social Space

For their size, investment banks have comparatively little to do with the rising practice of impact investing: They make up only nine per cent of all the assets under management (AUM) in the impact investment industry. That totals about US$1 trillion in investments in an US$11 trillion market.

Stock Returns And Industrial Production: A Sectoral Analysis, Griffin Lazarus

CMC Senior Theses

This paper analyzes the relationship between stock returns and future industrial production growth rates from 1926-1940. It replicates the work of Fama (1990) and Schwert (1990) with the intent to see if the relationship continues to hold using sector data. Furthermore, this paper focuses on the 1926-1940 sample period to explore how the relationship is affected by the stock market crash of 1929. It is expected that the relation will be weak for the industry sectors experiencing strong growth prior to the crash. The results indicate that the relationship between stock returns and future industrial production growth rates persists on …

Market Capitalization And Firm Value: The Size Factor, Rajiv.Issar Issar

Walden Dissertations and Doctoral Studies

Current multifactor valuation pricing models use size (measured by market capitalization) of a firm as one factor to determine the value of a security. The problem with current standard models was that none of them could explain the value of a security consistently and accurately based on current factors and in particular the size factor. The purpose of this quantitative study using existing time-series data over a 10-year period from 2006 to 2015 was to examine the impact of size factor on the realized rate of return of financial securities, while controlling for the impact of market rate of return. …

Growth Capital Strategies For Defense Industry Women-Owned Small Businesses, Karen Renee Butler

Walden Dissertations and Doctoral Studies

Access to growth capital, a critical factor for growing a successful, sustainable business, is a challenge for women-owned small businesses. Following the resource based theory, the purpose of this multiple case study was to explore what capital growth strategies 6 small women-owned business leaders in the defense industry in Dayton, Ohio used to ensure business sustainability beyond the initial start-up period of 1 year. Data were collected through semistructured interviews and company documents. Methodological triangulation, member checking, reflexivity, and an audit trail were used to strengthen credibility and trustworthiness. Based on thematic analysis of the data, emergent themes included growth …

Implementation Variables Of Corporate Social Responsibility In The Financial Services Industry, Gregoire Kokomo

Walden Dissertations and Doctoral Studies

Abstract

Seventy percent of small and medium-sized U.S. companies experience negative performance because of leaders' lack of knowledge of corporate social responsibility (CSR) program implementation. CSR implementation is complex and requires organizational resources such as expertise, personnel, time, and money. Implementing CSR programs is challenging for many leaders. Research on CSR implementation in the U.S. financial services industry is scarce, and leaders of financial services firms do not have a clear understanding of how to make CSR implementation successful. The purpose of this study was to explore optimal strategies for making corporate social responsibility program implementation effective. The central research …

Benchmark Regulation, Gina-Gail S. Fletcher

Articles by Maurer Faculty

Benchmarks are metrics that are deeply embedded in the financial markets. They are essential to the efficient functioning of the markets and are used in a wide variety of ways-from pricing oil to setting interest rates for consumer lending to valuing complex financial instruments. In recent years, benchmarks have also been at the epicenter of numerous, multi-year market manipulation scandals. Oil traders, for example, deliberately execute trades to drive benchmarks lower artificially, allowing the traders to capitalize on the manipulated benchmarks. This ensures that later trades relying on the benchmarks will be more profitable than they otherwise would have been. …

Improving Hiv Outcomes In Pakistan : The Interaction Between Politics, Power And Implementation, Hina Khalid

Legacy Theses & Dissertations (2009 - 2024)

HIV contributes to the highest number of deaths from infectious diseases in low-income countries. In this three-paper dissertation, using the case of Pakistan, I focus on understanding how the exercise of power by actors at three different levels of the health system, individual, program and societal, influences policy implementation and shapes HIV program outcomes. The objective is to improve HIV service provision thereby achieving improved health policy outcomes. I adopt a mixed-methods approach and use quantitative (logit regression) and qualitative techniques (content analysis of newspapers and semi-structured interviews). One paper tests the role played by network operators in influencing condom …

Market Adaptation To Regulation Fair Disclosure: The Use Of Industry Information To Enhance The Informational Environment, Susana Yu, Gwendolyn Webb

Department of Accounting and Finance Faculty Scholarship and Creative Works

Our fundamental research interest is in exploring the ways in which the financial markets have adapted to Reg FD, and our particular focus is on how market participants use industry information embedded in firms’ earnings announcements. We find that announcements of quarterly earnings made by companies that are the first in their industry to report in a given quarter have significant effects on the stock returns of other firms in the same industry as well as on their own stock returns. We then test the implications of these findings for their effects on the information environment. Overall, our empirical findings …

Athletes Quality Of Life After Retirement, Kevin Estrada

Nebraska College Preparatory Academy: Senior Capstone Projects

Professional athletes have had a long life of being able to compete in the sport they love. Once retried, most athletes quality of life worsens. Injuries and the dramatic change from competing sets up a former athlete for adversity. Most people believe that athletes are privileged individuals that earn too much money for the work they do. However, consequences such as bankruptcy, depression, and even suicide points otherwise.

●The findings show that although athletes might have a gifted early life the quick change in lifestyle sets them up for failure. Also I agree that former athletes have a worse quality …

Ipo Ready? Illuminating The Dark Box Of Private Equity, Tyler Gregory Cornellier

Honors Theses and Capstones

The use of public equity data can help combat the challenges private equity funds currently face regarding data availability. The goal is to create a model to provide guidance to both investors and entrepreneurs in the decision-making process. The data gathered would provide insight on how close a private company is to a successful Initial Public Offering (IPO). The idea is that a model, showing the average financial metrics of companies within certain industries during an IPO, can provide new perceptiveness as to how the private company is performing.

Indian Microfinance Sector: A Case Study, Sean P. Gillon

Honors Theses and Capstones

In developing areas of the world with very little economic structure, many activities are not monetized. In other words, money is not used to carry out these tasks because the people in these areas do not have the expendable funds required. In order to combat this problem, micro financing has become increasingly more apparent in these areas of distress. Microfinance is an economic development strategy that allows for those in need to borrow actual money in order to start a business, go to school, or even gain access to everyday living requirements. Microfinance has made tremendous strides over the years, …

Does Aggregated Returns Disclosure Increase Portfolio Risk Taking?, John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian

Faculty Publications

Many experiments have found that participants take more investment risk if they see less frequent returns, portfolio-level returns (rather than each individual asset’s returns), or longhorizon (rather than one-year) historical return distributions. In contrast, we find that such information aggregation treatments do not affect total equity investment when we make the investment environment more realistic than in prior experiments. Previously documented aggregation effects are not robust to changes in the risky asset’s return distribution or to the introduction of a multiday delay between portfolio choice and return realizations.

A Strategic Approach To Life Planning, R Henry Migliore

Migliore Collection

The purpose of this book is to help people develop a long-term life plan to achieve their dreams for their lives. My hope is to stir a vision or dream and then to provide a means by which that dream may be achieved.

Graduate Bulletin, 2017-2018, Minnesota State University Moorhead

Graduate Bulletins (Catalogs)

No abstract provided.

State Funding And Its Impact On University Funding, Andrew Wolfgang Doppstadt

Honors Theses and Capstones

No abstract provided.

If You Only Knew The Power Of The Dark Side: An Analysis Of The One-Sided Long Position Hedge Fund Public Disclosure Regime And A Call For Short Position Inclusion, Christian Bonser

Fordham Journal of Corporate & Financial Law

Disclosure rules in the United States capital markets were designed to promote fairness among all participants by providing a transparent system for equal access to information. The interpretation of information is the foundation of all prudent investment decisions; thus, an efficient capital market depends on the proper disclosure of information. Hedge funds heavily influence and play an integral role in the proper functioning of capital markets. For the markets’ benefit, hedge funds must publicly disclose their investing activity, which consists of long positions, like buying stock to sell later, and short positions, like short selling.

However, while hedge funds are …

Regulatory Arbitrage And Hedge Fund Regulation: The Need For A Transnational Response, Hossein Nabilou

Fordham Journal of Corporate & Financial Law

Regulatory arbitrage is an indispensable element of regulatory competition as it provides regulatory substitutes for firms, and allows those firms to optimally benefit from such competition. This also increases the elasticity of demand for regulators and engenders accountability among them. Hedge funds, as paragons of exploiting regulatory discrepancies, are heavily criticized for thwarting efforts to address systemic risk. This Article investigates the arbitrage-seeking behavior of hedge funds in a globally-fragmented financial regulatory framework.

Despite its benefits, regulatory arbitrage involves certain costs. Although market discipline can constrain these negative externalities, due to certain idiosyncratic features of the hedge fund industry, such …

Off The Chain! A Guide To Blockchain Derivatives Markets And The Implications On Systemic Risk, Ryan Surujnath

Fordham Journal of Corporate & Financial Law

Blockchains are publicly viewable and theoretically unalterable records of bitcoin transactions. They are thus crucial to the functionality of cryptocurrencies. Through the blockchain, bitcoin algorithmically decentralizes the maintenance of the transaction ledger and delegates the task to users on its network.

Blockchain technology shows promise beyond cryptocurrency: banking and financial institutions have established partnerships with fintech firms to explore the applicability of blockchains in capital markets. Blockchains, used in conjunction with self-executing smartcontracts, present particularly compelling opportunities in derivatives markets, which are typically beset by numerous intermediaries. The blockchain could radically reinvent the existing market infrastructure. Certain intermediaries like central …

Helca Mining Company, Claire Dalman

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract available.

Crummer Suntrust Portfolio Recommendations: Crummer Investment Management, Kaiwen Lu, Mara Lugo, Kevin Brancheau, Keenan Crosby, Carlos Perez Ruisanchez, Mark Faas, Alex Lopez Alguacil, Amy Martin, James Ferrell, Ghadi Mechleb, Brennan Smith

Crummer Truist Portfolios

The following report will walk you through this analysis beginning with an economic outlook, which in turn influences our portfolio design. The designated sector analysts then assess the portfolio holdings of each sector and determine whether the positions align with our forecast. This assessment includes a broad sector outlook, as well as a fundamental outlook for each individual holding. The decision to buy, hold, or sell is based on the sector analysts’ valuation. Finally, the report concludes with an overall portfolio assessment given the proposed changes supported by mean variance efficiency and a value at risk diagnosis.

Quasi-Appraisal: Appraising Breach Of Duty Of Disclosure Claims Following "Cash-Out" Mergers In Delaware, Zachary A. Paiva

Fordham Journal of Corporate & Financial Law

In recent years, Delaware has served as the hot bed for the dramatic increase in merger appraisal litigation and the proliferation of “appraisal arbitrage” whereby opportunistic shareholders buy into companies following merger announcements and challenge announced deal prices as an investment strategy. While this has not always proved profitable, it has increased scrutiny over the Delaware appraisal regime and the ability for shareholders to avail themselves of the opportunity for a judicial valuation of their shares. Furthermore, it has highlighted information asymmetries in which controlling shareholders, particularly those seeking to cash out their minority shareholders, are incentivized to underpay or …

Financial Socialization’S Impact On College Students’ Credit Card Behavior, Conner N. Palm

The Journal of Undergraduate Research

This study looked at the association between family financial socialization and credit card behavior among college students. The data came from the 2014-2015 National Student Financial Wellness Study, administered by the Ohio State University. Responses from 283 undergraduate students enrolled in South Dakota State University were analyzed. In general, responsible credit card behavior was found to be more likely exhibited by students who said their parents encouraged them to invest and students who thought their parents were good financial role models.

Offshore Outsourcing Of The United States Semiconductor Manufacturing: Management Approaches And Strategies, Oscar Mostofi

Walden Dissertations and Doctoral Studies

The United States manufacturing employment decreased 33% from 1985 to 2014. During the same period, the United States semiconductor manufacturing, accounting for 1.7% of the total of the United States manufacturing workforce, lost 35% of its employees. The decline in semiconductor manufacturing jobs began in 1985 when semiconductor firms began offshoring product manufacturing overseas because of low cost of qualified labor force and facilities. This qualitative case study explored the analytical approaches and strategies business leaders of semiconductor firms that offshore manufacturing use in making informed strategic outsourcing and offshoring decisions conducive to sustainability and profitability of operations. The location …

Understanding Financial Value Of Cloud-Based Business Applications: A Phenomenological Study, Victor Arthur Arthur

Walden Dissertations and Doctoral Studies

An understanding of opportunities and challenges in cloud computing is needed to better manage technology costs and create financial value. The purposes of this transcendental phenomenological study were to understand the lived experiences of minority business owners who operated business applications in the cloud and to explore how these experiences created financial value for businesses despite security challenges. Historically, minority business owners have experienced high rates of business failures and could benefit from information to help them manage business costs in order to position their businesses to grow and succeed. Modigliani-Miller's theorem on capital structure and Brealey and Young's concept …

Risks Management Application In Helping The Poor Through Microfinancing, Edmond Njombe Lyonga

Walden Dissertations and Doctoral Studies

Poverty alleviation in Buea, Cameroon, has been a problem of concern for decades. The study is vital because managers who control the funds given to the government of Cameroon to help reduce poverty are politicians and do not equitably distribute the funds to all on the pretext that the default rate is high. The purpose of this study was to find better ways to make additional capital available to the microbusiness owners of Buea to open or improve businesses. This qualitative case study design was consistent with the aim of understanding the importance of risk management within the microfinance industry …

The Risk-Return Characteristics And Diversification Benefits Of Fine Wine Investment, Tania Salomon

CMC Senior Theses

This thesis evaluates the risk-return characteristics and diversification benefits of fine wine investment. It compares the historical performance of wine to that of equity, fixed income, real estate, and commodities. I calculate the correlation, volatility, and expected returns of these assets to examine whether adding wine to a portfolio increases its risk-adjusted return. I do this through the Markowitz portfolio optimization technique. The findings suggest that wine has a low correlation with traditional assets, providing diversification benefits. My results also show that adding wine to a portfolio increases its risk-adjusted return only when there is an allocation constraint of 0 …

Mobile Banking Adoption By Senior Citizens In Australia, Madugoda Gunaratnege Senali

ECU Posters

Mobile banking is technological innovation provided by banks to its customers to do their banking activities such as, viewing account balances, paying bills, transfer of funds and checking new offers and products through their smart phones by using mobile banking application. Though mobile banking has raised high expectations in research and practice, it neither experienced broad adoption nor allows it banks to realize additional earnings yet. This research aims to investigate the factors affecting the mobile banking adoption by senior citizens in Australia by using technology acceptance models. It's important to improve the mobile banking amongst senior Australians to enhance …

Distance To Default, Viet Dung Dinh

ECU Posters

This poster covers default risk and the significance of the Distance to Default (DD) model in predicting financial distress for 6 countries in the ASEAN region.