Finance and Financial Management Commons^™

Abusive Supervision Detection As Part Of Venture Capital Due Diligence Of Management, David Blum

International Journal of Applied Management and Technology

Abusive supervision (AS) costs U.S. businesses billions of dollars per year in lost productivity, increased absenteeism, and health care costs. To reduce these costs and to enhance the probability of a successful exist, independent venture capitalists (IVCs) need to be aware of the issue of AS among the management team during the due-diligence process. This study addresses a gap in literature related to IVCs being able to detect AS during due-diligence process of the management team. The research question was this: What tools, processes, and methods can IVCs use to detect AS during the due-diligence process of the management team? …

Observations Of Homeownership In The United States Since World War Ii: A Look At The Ups And Downs, Jake Muse

Honors Theses

This thesis investigates the mechanisms that have affected homeownership since World War II. Homeownership rates can reflect people's desire to own homes or not own homes. Therefore, studying the homeownership rates will give me a better opportunity to understand how the residential real estate market operates. Robert Shiller's Homeownership graph, the U.S. Census Bureau's Total Housing Inventory Table and the Federal Reserve Bank of St. Louis' graph of the homeownership rate drove my research. Dating back to World War II, wherever I observed a significant increase or decrease in homeownership, I wanted to explain what was driving the increase or …

An Evaluation Of Customer Satisfaction Dimensions In The Ghanaian Banking Industry, Joyce Esther Dadzie

Walden Dissertations and Doctoral Studies

The banking industry in Ghana has seen tremendous growth in recent times. This exponential growth has led to high levels of competition and necessitated that all banks devise strategies to improve customer satisfaction to gain competitive advantage. The growing demands of customers have a significant impact on bank management's ability to attract and retain them. The ability to retain customers depends on the strategy in place to exceed customer expectations and satisfaction. Grounded in relationship marketing theory, the purpose of this qualitative multiple case study was to explore strategies banking leaders use to increase customer satisfaction. Data were collected through …

Strategies To Reduce Voluntary Employee Turnover In Small Retail Businesses In Jamaica, Georgia Justus

Walden Dissertations and Doctoral Studies

Voluntary employee turnover destabilizes small retail businesses and is a costly business problem for small retail business owners. Some small retail businesses experience voluntary employee turnover of up to 50% annually. Guided by Herzberg's 2-factor theory, the purpose of this multiple case study was to explore successful strategies used to reduce voluntary employee turnover. The target population consisted of 3 small retail business owners in Kingston, Jamaica. Data were collected from semistructured interviews and member checking, and human resource (HR) manuals containing HR policies and procedures. Data were analyzed into emerging themes using Yin's 5-step method. Based on the analysis …

The Relationship Between Financial Performance, Firm Size, Leverage And Corporate Social Responsibility, Fraser T. Nega

Walden Dissertations and Doctoral Studies

Approximately $25.2 trillion in total assets under management in the United States is involved in some strategy of socially responsible and sustainable investing. Grounded in the stakeholder theory, the purpose of this correlational study was to examine the relationships between financial performance, firm size, leverage, and corporate social responsibility. A random sample included 119 large companies located in the United States from the population of companies listed in the Russell 100 index. The data were collected via Bloomberg Terminal. Multiple linear regression analysis was used to predict Environmental, Social, and Governance (ESG) activity scores. The 3 predictor variables accounted for …

Sources Of Financing For Small And Medium Enterprises In Nigeria, Dije Umaru Watse

Walden Dissertations and Doctoral Studies

Small and medium enterprises (SMEs), which account for 96% of businesses in Nigeria are often forced to close because they lack access to funds. The purpose of this multiple case study was to explore the sources of funds available for the development and growth of SMEs in Nigeria. The conceptual framework guiding this study was the pecking order theory. Data were gathered from company documents and through semistructured interviews of a target population of 3 leaders of 3 SMEs from the oil and gas industry in Abuja, Kano, and Lagos in Nigeria, with a capitalization of between N5 million to …

Strategies Microbusiness Owners In Ghana Use For Managing Microloans, Stephen Ekow Edusah

Walden Dissertations and Doctoral Studies

High interest rates, many mortgage defaults, and availability of capital are challenges for microbusiness owners. The purpose of this phenomenological study was to explore the strategies used by Ghana's microbusiness owners to manage microloans for sustainable businesses in Cape Coast, Ghana. Putnam's social capital theory was the conceptual framework for the study. A purposive and snowball sample of 10 participants completed semistructured interviews and described their perceptions and experiences of the phenomena. Data were analyzed using Moustakas' modified van Kaam method to catalog, group, and code information into themes. The study findings indicated there are high-interest rates and many mortgage …

Three Essays On Liquidity In Modern Markets, Konstantin Sokolov

Theses and Dissertations (Comprehensive)

Recent technological advancements have challenged financial markets. Academic researchers, regulators and market participants voice concerns that modern markets bear the negative externalities of such advancements. Specifically, they are concerned that today’s markets are becoming more fragile and unfair to less sophisticated traders. This work employs empirical methodology to test whether these concerns are justified. This thesis contains three essays:

The first essay studies whether modern markets become less liquid during intraday extreme price movements (EPMs). When a price moves in a certain direction, liquidity providers face two opposing incentives. The first incentive is to stay in the market to accumulate …

The Determinants Of Traffic Citation Revenues On Florida's Clerks Of Court And Comptrollers, Corey A. Hamilton

Walden Dissertations and Doctoral Studies

In the wake of budgetary restraints, many local government organizations are examining existing sources of revenue to exhaust available streams without increasing constituents' financial burden. Some of these revenue streams include nontraditional sources, such as traffic citations, yet little research has explored the implications of revenue generated from fines from traffic citations. Using the theory of resource dependence as the foundation, the purpose of this study was to explore the relationship between the estimated population of the county, the unemployment rate of the county, and the personal income per capita against the number of traffic citations issued and the Florida …

An Analysis Of The Financial Literacy Of Senior Students Across Fields Of Study At The University Of Mississippi, Robert Hollis Burrow

Honors Theses

This thesis examines the financial literacy of senior students at the University of Mississippi, as well as which variables influence a student's financial literacy level. Financial literacy is crucial for both an individual's current and long-term well-being and financial health. Students in various major fields of study participated in a multiple-choice survey, including demographic, socioeconomic, and financial literacy questions. The student's answers were analyzed using univariate analyses, an ordinary least squares stepwise regression, and a logistic stepwise regression. The study found that the average student score of 2.75 out of five financial literacy questions was comparable to the national average …

Effective Leadership Practices Of Bank Leaders In Nigeria, Olatunji Joseph Ajiboye

Walden Dissertations and Doctoral Studies

The Nigerian banking industry has recently witnessed a major scandal resulting from financial impropriety of some corporate leaders in the industry. The Central Bank of Nigeria (CBN) invested the sum of N620 billion ($4.1 billion) as part of a direct bailout package to 8 banks, and removed top executives of those banks for gross leadership ineptitude. The leadership ineptitude is an indication of the need to better understand effective leadership practices in the Nigerian banking industry. Grounded in transformational leadership theory, the purpose of this multiple case study was to explore bank leaders' effective leadership practices used to sustain bank …

Effective Strategies For Transformational Teams In The Danish Retail Banking Sector, Dorthe Hã¥Hr Dupont

Walden Dissertations and Doctoral Studies

Successful transformation projects in the retail banking industry focusing on improving customer experiences have yielded a verified increase in earnings per employee. The purpose of this single case study was to reveal the strategies used by transformational team managers to ensure improved customer experiences. The stakeholder theory was used as the theoretical framework to analyze the interplay between the project team and the base organization during the process of improving customer experiences. The population consisted of 6 managers of transformational teams in the Danish retail banking sector who were successfully delivering on assigned goals of improving customer services. The data …

Financial Strategies Of Small Businesses To Gain Access To Capital, Atta Boateng Owusu

Walden Dissertations and Doctoral Studies

In the United States, total small business outstanding loans declined by 2.5 % in 2013, compared to a 10.4% increase in 2012. Scholars and business practitioners have indicated that small business entrepreneurs experience constraints in accessing capital to grow their businesses. Many small firm owners lack the financial strategies for gaining access to capital to sustain their businesses. Building on system functionality theory, the purpose of this exploratory multiple case study was to explore the financial strategies among 3 purposefully-selected small business owners in Washington DC metro area who successfully overcame the financial constraints. Six themes emerged from the thematic …

Strategies For Recruiting Cybersecurity Professionals In The Financial Service Industry, Iva Walters

Walden Dissertations and Doctoral Studies

The cybersecurity market is the fastest growing market in the United States; as such, leaders in financial institutions recognize their businesses are vulnerable, as money is accessible within computerized banking systems. The purpose of this multiple case study was to explore what strategies financial service leaders- use to recruit cybersecurity professionals. The conceptual framework for this study was the hierarchy of needs and stakeholder management theory. Data collection involved company archival documents and semistructured, open-ended interviews with 5 financial service leaders in the Midlands area of South Carolina who recruited skilled cybersecurity professionals to support long-term business sustainability. Coding, clustering, …

Competitive Strategies Of Microfinance Owners In Ghana, Eric Kojo Asante

Walden Dissertations and Doctoral Studies

Ghanaian microfinance banks (MFB) experience a high collapse rate, with more than 100 MFBs failing between 2015 and 2016. Grounded on Porter's competitive strategy theory, the purpose of this case study was to explore successful strategies used by selected participants to achieve business sustainability. Fourteen participants from 6 successful MFBs in the Greater Accra Region, including managers and MFB owners with more than 5 years of professional and industry experience, participated in semistructured interviews. Observations and company documents served as a secondary source of data collection. Through thematic analysis, 5 themes emerged: cash and liquidity management, capacity building, monitoring, compliance, …

A Case Study Of Financial Literacy And Debt Of Immigrants In Lloydminster, Canada, Oludamola Olalere Durodola

Walden Dissertations and Doctoral Studies

The high debt-to-income ratios and the low financial literacy levels among Canadian immigrants are hindering public welfare, macroeconomic policies, and economic growth. The purpose of this qualitative exploratory case study was to explore why immigrants to Lloydminster, Canada possess high debt-to-income ratios in their financial portfolios by examining pertinent themes and patterns between their debt profiles and their financial literacy levels. The life cycle hypothesis, rational choice theory, and bounded rationality theory grounded the study. Data collection from the purposeful sample included semistructured face-to-face interviews with 13 adult immigrants and a focus group discussion with 6 adult immigrants, all of …

A Comparison Between Administrative Leadership In Higher Education And Change-Oriented Leadership In Banks, Glenn King Jr

Walden Dissertations and Doctoral Studies

Organizational environments continually change. Organizations that do not meet the demands for change do not survive. The required changes differ for banks versus universities, suggesting that leaders in each type of organization need to use unique styles to adapt to their unique environments. The purpose of this quantitative research study was to test a contingency theory of leadership that leaders of banks are change-oriented, whereas leaders of higher educational institutions are administrative in their style. The research questions dealt with differences in the uncertainty of internal operations and the external environment of banks versus universities, and the leadership style most …

Capitalization Strategies For Small Business Sustainability, Richard Basch

Walden Dissertations and Doctoral Studies

Over the past 15 years, privately held small businesses generated nearly two-thirds of the net job growth in the United States, yet much of what scholars know regarding the capitalization challenges faced by small businesses is limited to data from large corporations. In 2013 alone, business bankruptcies numbered 33,212, and each year approximately 10% to 12% of U.S. small businesses close. Ineffective capitalization strategies coupled with a limited understanding of funding options frequently results in unsustainable business practices. In this multiple case study, the capital budgeting theory was utilized to explore the capitalization strategies small business owners in the greater …

Factors Affecting Debt Decisions: Syndicated Loans Vs. Corporate Bonds, Theerut Winaikosol

Chulalongkorn University Theses and Dissertations (Chula ETD)

Following the recent developments and expansions in syndicated loans market, syndicate loans are currently accounted for around one-third of borrowers' total public debt and equity financing. It is one of the main alternative debt instruments for corporations. Syndicated loans are bank loans by their settings but also have many of the corporate bonds' characteristics. These characteristics have made syndicated loans hybrid debt instruments which combining features of both bank loans and bonds. This study investigates the financial factors behind syndicated loans issuance for a comprehensive sample from 2000 to 2016 of United States non-financial companies which are listed in New …

African American Graduates' Experiences Of Managing College Debt, Christal Blalock

Walden Dissertations and Doctoral Studies

Higher education is a means to improve professional status and economic mobility; however, mounting college debt has become a hindrance to college graduates, primarily African Americans. A disproportionate number of these graduates incur significant debt while attending college. The purpose of this descriptive phenomenological study was to understand the lived experiences of African American college graduates who were managing debt incurred to pay for their education. Human capital theory and critical race theory provided the conceptual framework. Two research questions motivated this study: How do African American college graduates living in the state of Georgia manage their college debt? What …

Managing Energy Price Risk Using Futures Contracts: A Comparative Analysis, Jim Hanly

Articles

This paper carries out a comparative analysis of managing energy risk through futures hedging, for energy market participants across a broad dataset that encompasses the largest and most actively traded energy products. Uniquely, we carry out a hedge comparison using a variety of risk measures including Variance, Value at risk (VaR), and Expected Shortfall as well as a utility based performance metric for two different investor horizons; weekly and monthly. We find that hedging is effective across the spectrum of risk measures we employ. We also find significant differences in both the hedging strategies and the hedging effectiveness of different …

Two Essays On Investors' Attention To Economically Linked Firms, Mahsa Khoshnoud

Electronic Theses and Dissertations

My first essay examines the degree to which the market prices of publicly traded firms reflect and respond to new information regarding the economic viability and vitality of organizations to which they are strategically linked. More specifically, I exploit the uniquely transparent nature of the lessor-lessee relationship across commercial real estate markets to evaluate whether future returns to real estate investment trusts (REITs) are systematically affected by the financial return performance and/or operational opacity of the tenants who lease their investment properties. Using a hand collected data set identifying the principal tenants of 96 publicly traded REITs, I find those …

Essays On Corporate Vertical Integration, He Li

Open Access Theses & Dissertations

My Dissertation examines the corporate diversification strategy of vertical integration. Vertical integration refers to the organizational structure in which divisions within the firm are integrated along the supply chain. I examine the advantages and disadvantages associated with vertical integration in two chapters.

In Chapter 2, I model how inter-divisional spillover effects mitigate internal capital market (ICM) inefficiencies. The model shows that the spillover effect helps align the objectives of division managers and the objective of the CEO and the firm, and thus facilitates efficient capital allocation at equilibrium. Empirically, I measure the size of the spillover effect by the degree …

Leadership Adaptation To Changes In Public Funding Of Community Colleges, James Hightower Simpson

Walden Dissertations and Doctoral Studies

Although growth in U.S. community colleges has been exponential, a major challenge accompanying that growth has been the source of funding, which has consisted of shifting proportions of tuition, local taxes, and state aid. The shift away from state aid toward fundraising, profit-oriented research, sophisticated financing, and higher tuition presents challenges and unintended consequences. This shift could threaten the community college access mission and contribute to a perception of higher education as a private good rather than a public good. With a framework of academic capitalism and resource dependency theories, the purpose of this basic qualitative interview study with 7 …

Financing Strategies For Real Estate Investments, Joshua Parr

Williams Honors College, Honors Research Projects

Most people have a dream of being financially independent and in order to do so it is necessary to save and invest their money. The key is to invest wisely so that one can earn a solid return on their money. Real estate investments are a great way to build wealth because of the benefits they have over other investments. Many are under the misconception that they cannot invest in real estate because of a lack of capital. This belief is entirely untrue and there are dozens of different strategies for investing in real estate with little or no capital …

Using Accounting Information To Forecast Market Performance, Tyler Atanasov

Williams Honors College, Honors Research Projects

This study examines how accounting information can be used to forecast market performance of stocks. We used the specific accounting information of earnings-to-price and book-to-market value ratios, in relation to a stocks 5-year holding period return to determine market performance. The most current, quarterly data with a longer sample period than previous studies was used. First, portfolios of stocks were formed based on the value of each stocks ratio. Next, univariate tests were then run on each ratio’s portfolios to determine if there was statistical significance in the differences among the portfolios returns. Lastly, we determined that investors could earn …

The Impact Of Socially Conscious Initiative Announcements On Coffee Company Stock Values, Glenn Thomas Smith

Walden Dissertations and Doctoral Studies

Stockholders invest billions of dollars in the purchase of new corporate coffee stock while producers of these commodities exist in poverty of developing nations. Corporate managers may miss the opportunities for offering humanitarian aid if potential stockholders do not know of corporate social change initiatives. Little research in the influence of socially conscious initiatives exists in the coffee sector and none concentrating on socially conscious initiative announcements. If a relationship exists between socially conscious initiative announcements and stock investments, then managers could justify funding social change initiatives. This quantitative study used a 5 day pre and post event study methodology …

Relationship Between Mutual Fund Type, Portfolio Turnover, Longevity, Management Turnover, And Performance, Medhanie G. Mekonnen

Walden Dissertations and Doctoral Studies

Mutual fund portfolio managers do not always meet risk-adjusted performance expectations, resulting in loss of capital reserves. Out of 3,612 U.S. based open-ended mutual funds, the risk-adjusted performance of 2,890 (80%) failed to meet or beat the S&P 500 (index fund) performance between the year 2006 to 2016. Grounded in Markowitz's modern portfolio theory, the purpose of this correlational study was to examine the relationship between mutual fund class type, portfolio turnover, fund longevity, management turnover, and annual fund risk-adjusted performance. Archival data were collected from 88 U.S. based equity mutual funds companies. The results of the multiple regression analysis …

Exploring Student Loan Personal Financial Management Decisions Using A Behavioral Economics Lens, Michael J. Wermuth

Walden Dissertations and Doctoral Studies

There is a student loan debt problem in the United States. Seven million student borrowers are in default and another 14 million are delinquent on their loans. A high level of college loan debt leaves students with insurmountable payments and holds them back from starting a family, buying a home, or saving for retirement. The problem is that financial managers may not understand the student loan decision process well enough to help students make a loan decision that prevents an unmanageable level of debt. The purpose of this study was to explore and understand the student's loan decision process using …

Successful Strategies Used By Small Business Owners For Company Sustainability, Robert Oppong

Walden Dissertations and Doctoral Studies

According to the U.S. Small Business Administration, African Americans are the fastest growing entrepreneurial minority group in the United States. However, they suffer the highest business failure rates. The research design for this study was a multiple case study to explore the strategies small business owners used to succeed in business beyond 5 years. The conceptual framework for this study was the systems theory. The population was small business owners in the Dallas-Fort Worth metropolis, Texas. Data collection sources included semistructured interviews, company documents, company websites, and site visit observations. The data analysis process included data cleaning, uploading transcribed interviews …