Finance and Financial Management Commons^™

Analyzing The Effects Of Credit Rating Changes, The Recent Financial Crisis And Other Variables On Firms' Debt Levels, Sean M. Wasserman

CMC Senior Theses

This paper utilizes a sample of firms over the years 2000–2009 to test the effects of credit rating changes, the financial crisis, interest rates, and other variables on short-term, long-term, and total debt levels on the balance sheet. Each independent variable was created using a one year lag in order to run the regressions. The values of these variables from the previous year are being analyzed to see if they can predict debt levels for the following year. The results of this paper suggest that levels of long-term and total debt are somewhat reliant on and are positively correlated with …

Determinants Of Corporate Cash Holdings, Yun Lai (William) Li

CMC Senior Theses

The paper explores the driving forces behind corporate cash holdings by analyzing past literature and extending this research to the behavior of firms after the 2008 recession. I look at the cash to assets and net debt to assets ratios from October 1980 to October 2011 to obtain an understanding of the past and current state of cash holdings. A comprehensive literature review is done on agency costs and transactional motives to give the reader an overview of the costs and benefits of holding cash. This provides the foundation for the precautionary motives for companies today to keep cash as …

The Success Of Long-Short Equity Strategies Versus Traditional Equity Strategies & Market Returns, Lauren J. Buchanan

CMC Senior Theses

This study examines the performance of long-short equity trading strategies from January 1990 to December 2010. This study combines two financial screens that will yield candidates for both long and short positions for each month during the aforementioned time period. Two long-short strategies are tested: (1) perfectly-hedged, or equal allocation to long and short positions, and (2) net-long. The results of this thesis reveal that if a long-short equity manager is able to successfully determine what companies are overvalued and undervalued and actively rebalance their portfolio, perfectly-hedged and net-long strategies can generate superior risk-adjusted alpha.

Performance Of The Indian Banking Industry Over The Last Ten Years, Saumya Lohia

CMC Senior Theses

This paper analyzes the performance of Indian banks over the period of the last ten years. It uses the CAMEL Framework to determine the performance of public and private banks in India. The paper also conducts an empirical analysis to determine the share price performance of Indian banks relative to the share price performance of banks in Hong Kong, Europe and the US. This paper finds that private banks perform better than public banks overall based on the CAMEL Framework. In addition it also finds that the Indian banks share price performance is dependent on the share price performance of …

Life Planning For Nfl Players, Ryan Pedersen

CMC Senior Theses

With players in the National Football League (NFL) making what seems to be the most money out of any entry-level position, it might come as a shock to many people to hear that so many players end up in financial distress afterwards.  Sports Illustrated has put this number at 78% of players filing for bankruptcy or are in serious financial trouble within only two years of leaving the league (Torre).

The problems that the players run into are their short careers, which average 3 ½ years, their poor financial decisions and their very optimistic approach to life.  The 3 ½ …

Effect Of Lockup Agreements On Buyout Backed Initial Public Offerings, Grant B. Heffernan

CMC Senior Theses

Using a sample of 279 buyout backed firms, I examined the effect of lockup agreements on the firm’s stock returns. I found there to be a negative .8 percent cumulative abnormal return for the three-day period surrounding lockup expiration. Consistent with my hypothesis the CAR for the three-day period surrounding lockup expiration was less negative for buyout backed IPOs compared to venture capital backed IPOs. In addition, I found there to be an abnormal 24.24 percent increase in trading volume for the three days surrounding lockup expiration.

Imf Conditionality, Fiscal Policy, And Income Inequality In Latin America, Nicholas Egger-Bovet

CMC Senior Theses

The International Monetary Fund (IMF) is the leading international economic crisis manager, but the effects of its loans and conditionality reach far beyond overarching macroeconomic indicators. This paper will examine the consequences of IMF fiscal policy conditions on income inequality and poverty by examining cases in Latin America, and specifically Mexico during the 1980s. The role that internal politics within borrowing countries plays is also closely examined. The paper concludes with policy recommendations for the IMF to ensure the most equitable and effective means of overcoming balance of payments crises.

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.

The Persistence Of Pricing Differentials In Dual-Listed Companies In Hong Kong And China, Justin Spitzer

CMC Senior Theses

Over the past two decades a number of Chinese companies have issued shares on both the Hong Kong Stock Exchange and on one of the Chinese stock exchanges. The Hong Kong-listed H-shares of Chinese dual-listed companies have traded at a persistent discount rate relative to the China-listed A-shares. As these shares represent the same ownership rights and cash flows, the shares should theoretically trade at the same price. The price differential between H-shares and A-shares should decrease as international markets continue to converge. The paper analyzes the persistence of the discount rates and the effects of both market and investor …

Regulating Compensation, A. Christine Hurt

Faculty Scholarship

No abstract provided.

Ua9/4 Institutional Advancement - College Heights Foundation, Wku Archives

WKU Archives Collection Inventories

Records created by and about College Heights Foundation including annual reports, meeting minutes, publications and subscriber lists.

Ua4/2 Academic Budgets & Administration - Correspondence/Subject File, Wku Archives

WKU Archives Collection Inventories

Correspondence and subject files created by the office of Academic Budgets & Administration and its reporting offices:

• Academic Budgets
• Manager of Academic Resources
• PIE Grants Coordinator

Ua4/1 Acadmic Budgets & Administration - Reports, Wku Archives

WKU Archives Collection Inventories

Reports created by the office of Academic Budgets & Administration and its reporting offices:

• Academic Budgets
• Manager of Academic Resources
• PIE Grants Coordinator

Includes operating budgets and salary reports.

Ua37/29 Faculty Personal Papers Gary Ransdell, Wku Archives

WKU Archives Collection Inventories

Personal records created by Gary Ransdell.

Confederate States Of America - Bond Coupons (Sc 2403), Manuscripts & Folklife Archives

Manuscript Collection Finding Aids

Finding aid and scan (Click on "Additional Files" below) for Manuscripts Small Collection 2403. Full sheet of bond coupons issued by the Confederate States of America in $30 denominations with a full term of thirty years; total $1,000. The bonds were approved by the CSA on 11 February 1864. This sheet is hand numbered "8654" and was part of the "Fifth Series" issue.

Quantitative Hedge Fund Selection, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

Prior research has shown that small funds, young funds, and local funds outperform their older, larger, and distant counterparts. According to the literature, hedge fund performance is driven by fund capacity constraints, managerial incentives, and local information. I revisit these studies on hedge funds and test whether their results hold up in recent data. By doing so, I lay the foundations for a quantitative hedge fund selection framework.

A Cost Benefit Analysis Of Utilizing Solar Panels On Bates Nut Farm, Brandon Walter Ness

Agribusiness

No abstract provided.

Business Process Automation And Managerial Accounting: An Sap Plug And Play Module (Final Report), Picheng Lee, Principal Investigator, Christian N. Mady, Rudy Jacob, Chu-Hua Kuei

Cornerstone 3 Reports : Interdisciplinary Informatics

The primary aim of our project is to develop an Enterprise Resource Planning (ERP) platform that enables students at Pace to understand how different interdisciplinary areas in cross-unit and/or cross-enterprise decision making are related. ERP can help us do this since it allows a firm to automate and integrate its business processes, share common data and practices across the entire enterprise, and provide and access information in a real-time environment.

The Archway Investment Fund Semi Annual Report, December 2010, Bryant University, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Attitudes Toward Immediate Annuities, Devon K. Robb

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Retirement security for Americans is one of the most critical public policy and personal financial issues and will be for decades in the future. Individuals that retire today can live an additional 30 or even 40 years with less secure income as corporations shift to defined contribution plans to fund retirement. Based on the life cycle savings hypothesis, immediate annuities should be appealing to retirees because they insure against the risks of outliving retirement assets by converting funds into a lifelong stream of income. However, research has found that retirees are reluctant to annuitize their wealth. This study examined the …

An Analysis Of Reverse Mortgage Clients At The Utah State University Family Life Center Housing And Financial Counseling Services, Cindy R. Stokes

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The purposes of this study were to describe and categorize the types of clients seeking reverse mortgage counseling, and to document the growth in demand for reverse mortgage counseling from one counseling center: The USU Family Life Center - Housing and Financial Counseling Services (FLC HFC). A second purpose was to gain a better understanding of the reasons why more senior Americans are seeking reverse mortgages. A third purpose was to gain a better understanding of the retirement preparedness of current seniors seeking reverse mortgages, which could lead to improved counseling services, early retirement intervention awareness, and encourage increased pre-retirement …

How Purchasing Departments Can Take Advantage Of The Sluggish Economy To Achieve Strategic Opportunities Through Best Practices, Peter O'Reilly

Publications

Presentation objectives:

• What is a Strategic Best Practice and Why is it Important to a Purchasing Department?

The Effect Of Taxes On Multinational Debt Location, Matteo P. Arena, Andrew H. Roper

Finance Faculty Research and Publications

We provide new evidence that differences in international tax rates and tax regimes affect multinational firms' debt location decisions. Our sample contains 8287 debt issues from 2437 firms headquartered in 23 different countries with debt-issuing subsidiaries in 59 countries. We analyze firms' marginal decisions of where to issue debt to investigate the influence of a comprehensive set of tax-related effects, including differences in personal and corporate tax rates, tax credit and exemption systems, and bi-lateral cross-country withholding taxes on interest and dividend payments. Our results show that differences in personal and corporate tax rates, the presence of dividend imputation or …

The Malarkey Of Money Transfers: Overlooking E-Bay Whilst The Hawaladars Are Hunted, David M. Cook, Timothy Smith

Australian Counter Terrorism Conference

Informal Money Transfer systems represent one of several persistent loopholes in the fight against the War on Terror. Terrorist groups and criminal networks continue to use the Hawala system, as well as other informal transfer systems, to escape the regulatory and administrative control of formal international banking transactions. In an age where global financial regulation is underpinned by international agreement through Basel and others, the ongoing use of IVTs in Australia is cause for increasing concern. Yet Hawala is only half of the informal equation. E-bay and its associated bedfellows outstrip Hawala transfers through the same commercial imperative that drives …

Agenda: 2010 World Energy Justice Conference: Emerging Solutions For The Energy Poor: Technological, Entrepreneurial And Institutional Challenges, University Of Colorado Boulder. Center For Energy & Environmental Security, Colorado Journal Of International Environmental Law And Policy

2010 World Energy Justice Conference (November 5)

This conference is a sequel to the 2009 World Energy Justice Conference (WEJC 2009) which began examining ways of mainstreaming safe, clean, and efficient energy for the world's Energy Poor (EP). The EP number two and a half billion people living on less than $1-2 a day who have no access to modern energy services. WEJC 2010 more fully develops these themes. WEJC 2010 will explore how the next round of global warming meetings in Cancun could design new flexibility mechanisms that give credits, for example, for the reduction of black carbon by the adoption of cookstoves, and embrace small …

Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu

Knowledge@SMU

Asia's private banking industry is expected to expand in the near future, and all signs point to greater competition amongst existing markets and wealth management entities. The nature of the financial service, however, remains rather interpersonal. Private bankers work almost exclusively with sophisticated, high net worth individuals. Long term survival, for them, means sticking with high value clients over the long haul, over and above sticking it out with the institutes that back those financial services. What might this spell for the market? SMU's Ang Ser-Keng asked industry experts through a series of interviews.

Developing A Culturally Responsive Classroom Collaborative Of Faculty, Students, And Institution, Paul J. Colbert

MBA Faculty Conference Papers & Journal Articles

Culture is integral to the learning process. It is the organization and way of life within the community of students and teachers and directs the way they communicate, interact, and approach teaching and learning. Although founded in particular values and principles, the academy, like most organizations, is impacted day-to-day by its culture. Yet, the traditional higher education institution has not been designed to operate within a racially or ethnically diverse student population. The social, political, economic, and cultural forces that support the institution influence the teaching and learning environments. To better address cultural diversity in the classroom, faculty must first …

Culvert Material Cost Comparison, New England Environmental Finance Center

Economics and Finance

The following tables provide a detailed look at the role that culvert material and culvert diameter play in the overall cost of a culvert replacement project. Table 1 displays the cost per foot purchase price arranged by diameter size for the various culvert materials that are currently available. Table 2 displays the average additional culvert pipe material cost (increased cost to upsize minus original in-kind replacement cost) that would be incurred when upsizing a given diameter of culvert with a 50 foot length by factors of: 200%, 250% and 300%.

The Initial And Aftermarket Performance Of Ipos In An Emerging Market : The Case Of Malaysian Stock Exchange., Ricky Wong Baan Wahh

Student Works (2010-2019)

The study of initial public offering (IPO) underpricing and its post-listing underperformance has been one of those issues that are never laid to rest. The ongoing quest for the reasons behind IPO underpricing and its subsequent poor post-listing returns is what motivates this paper to study these anomalous market behaviours in an emerging market setting such as Malaysia. The primary purpose of this paper is to analyze the existence and magnitude of the underpricing phenomenon and post listing performance of IPOs listed in Bursa Malaysia from 1998 to 2008. Moreover, this study aims to provide an insight primarily into the …

Independent Financial Adviser : Key Factors For Engagement In Malaysia., Wan Azrul Wan Zainal Abidin

Student Works (2010-2019)

This study aims to investigate the key factors for engagement of the Independent Financial Adviser (IFA) in Malaysia. The objective of this study is to identify the key factor for the Malaysian public to engage the service of an IFA and their preference for the delivery of service by the IFA. This is in accordance to the initiative of the Malaysian Financial Sector Master Plan (FSMP) introduced in 2001. The finding of this research is important to the Malaysian consumer and the IFA since they would be able to mutually benefit from the understanding of how each fits into the …