Finance and Financial Management Commons^™

Research On The Supply Chain Inventory Management To Gen Garment Co. Ltd, Wei Wang

World Maritime University Dissertations

No abstract provided.

Influence Of Financial Storm On The Ship Chartering Market And The Way Of Risks Control, Xingyuan Sun

World Maritime University Dissertations

No abstract provided.

The Research On Function And Application Of Financial Leasing For Small And Medium Size Shipping Enterprise : Decision Making On Ship Financing In M Company, Yu Miao

World Maritime University Dissertations

No abstract provided.

The Research On Risk Evaluation Of Shanghai Lng Import Program, Chao Lin

World Maritime University Dissertations

No abstract provided.

Research On Scf Model Under Financial Crisis : An Integrated Sc Project In China Based On Financing, Rui Liu

World Maritime University Dissertations

No abstract provided.

Overreaction In The Thrift Ipo Aftermarket, Geoffrey C. Friesen, Christopher Swift

Department of Finance: Faculty Publications

We study the initial returns and long-run performance of a unique sample of thrifts that have recently converted from mutual to stock form. In addition to a full claim on all IPO proceeds, new investors in a converted thrift also receive a claim on all pre-conversion market value at no cost. Thus, the average firm in our sample has a degree of underpricing automatically built into its offer price. We find that after removing the large initial returns, cumulative excess returns for the firms in our sample are positive for 12 months after the IPO. Beginning in the second year …

Are Credit Unions In Ecuador Achieving Economies Of Scale?, Nick A. Marchio

Economics Honors Projects

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when membership grows too diffuse. To address this issue, this study uses a model that takes into account existing theory on constrained-optimization in credit unions and theory on the adverse effects of diffuse ownership. Using data on 36 public credit unions in Ecuador, the empirical analysis finds evidence that credit unions can achieve economies of scale despite their problematic structural features. …

External Financing: Market Timing Or Managerial Optimism, Beth Collins Hegab

Doctoral Dissertations

Management of capital structure is an important part of maximizing the firm value. Financial research has proposed many theories that explain aspects of firm behavior when a firm makes financial decisions that change the firm's capital structure. However, none of the theories fully explain why firms with similar fundamental characteristics make different financing choices.

This study focuses on what motivates managers when they are making external financing decisions. It investigated whether the motivation for the decisions about capital structure are driven by market timing or managerial overoptimism. This is done by focusing on equity and debt issues and whether these …

Earnings Management Around Mergers And Acquisitions, Eugenie Ann Ardoin Goodwin

Doctoral Dissertations

Earnings management has become a topic of interest when trying to explain anomalies in company stock performance following corporate events such as equity offerings and mergers. If managers are trying to manipulate earnings upward to increase stock value before a merger to achieve a better exchange ratio at acquisition announcement, they may use discretion in accruals to inflate earnings and/or reduce spending in research and development prior to the announcement. Literature results are mixed as to whether firms engage in opportunistic earnings management using discretionary accruals before acquisition announcement and if this manipulation has an impact on stock performance post-announcement. …

The Impact Of Selected Corporate Governance Variables In Mitigating Earnings Management In The Philippines, Mc Reynald S. Banderlipe Ii

DLSU Business & Economics Review

Given the increasing importance of corporate governance in the Philippines, this study attempts to explain the role of selected governance variables related to a company’s board of directors in mitigating earnings management in the country. Using the financial statements of publicly listed companies and a modified measurement model, the findings revealed that the holding of multiple directorial positions by the independent directors, and the managerial ownership of the board are significant enough to limit the incentives for earnings management. Moreover, firm size and return on assets were identified to have explanatory significance among the controlling factors.

Towards An Innovation Model In Teaching Management, Ernesto L. Bumatay

DLSU Business & Economics Review

This study discusses an innovation to management teaching called Learning-Activity-Based Experience Model (LAB-E Model). The perspective is that the entire learning process in a course will be experienced through sets of activities designed by the faculty. These sets or clusters of problems and activities are unique to the contents and objectives of the course as well as to the varying needs and capabilities of the students. Through management activities created and designed by the faculty, learning takes place. This innovative teaching model incorporates other common teaching methodologies which include small group presentation, facilitated discussion of cases, and lecture-discussion approach.

An Agent-Based Commodity Trading Simulation, Shih-Fen Cheng, Yee Pin Lim

Research Collection School Of Computing and Information Systems

In this paper, an event-centric commodity trading simulation powered by the multiagent framework is presented. The purpose of this simulation platform is for training novice traders. The simulation is progressed by announcing news events that affect various aspects of the commodity supply chain. Upon receiving these events, market agents that play the roles of producers, consumers, and speculators would adjust their views on the market and act accordingly. Their actions would be based on their roles and also their private information, and collectively they shape the market dynamics. This simulation has been effectively deployed for several training sessions. We will …

Input-Ouput Analysis Of The Key Sectors In Philippine Carbon Dioxide Emissions From A Production Perspective, Rachel C. Reyes

DLSU Business & Economics Review

The study computes the carbon dioxide emissions of the Philippines for the period of 2000 to 2006 and applies a production perspective input-output analysis to identify the key sectors whose value-added growth were responsible for the increase in emissions of the country and those that exhibited increased sectoral emissions from overall income growth. Power generation turned out to be the primary sector while cement manufacture, wholesale/retail trade, mining, road and water transport, and private services were revealed as the secondary sectors, jointly accounting for 0.66% increase in the country’s emissions from a 1% growth in their valueadded and experiencing 0.75% …

Perceived Organizational Effectiveness Of Labor Unions In The Banking, Hotel, And Manufacturing Industries, Divina M. Edralin

DLSU Business & Economics Review

To determine the extent of influence of the organization’s context and structure factors on the perceived effectiveness of labor unions in the banking, hotel, and manufacturing industries in the National Capital Region, 88 local unions consisting of 772 rank-and-file and supervisory union members from 82 firms were covered. It is evident from the results that the level of union effectiveness as perceived by the members is a function of two major organizational factors, namely, context and structure. Moreover, there are significant differences in the average level of effectiveness rating of unions per industry.

Law Making In The Guise Of Procedures: Placing Hurdles To The Right Of Appeal To The National Labor Relations Commission, Emmanuel O. Sales

DLSU Business & Economics Review

It is a legal given that the power to make laws or new norms lies with Congress and this power, granted by the Constitution, cannot be shared with or should not be encroached upon by another branch of government or an instrumentality of a branch. Rule making to implement the law or the promulgation of procedures to establish the process of enforcing rights is not always done subordinate to or in accordance with law. This study posits that the 2005 Rules of Procedure of the National Labor Relations Commission, specifically on the requirements for taking an appeal, is a case …

Innovation Process And Performance In Small- To Medium-Sized Firms: A Conceptual Framework, Edgardo S. Bolinao

DLSU Business & Economics Review

This study maps out the innovation process in Small and Medium Enterprises (SMEs) that can fundamentally affect business performance. The development of the conceptual framework can be used to encourage and enhance successful innovation management for SMEs. Overall, effective innovation is based on managing this process as a whole and on building up capacity and competency at each stage in the innovation. The framework put forth in this study is being proposed to be used as template for the development of a management development program for SMEs’ owner-managers and as a practical tool for diagnosing SMEs’ support systems.

What Is “The Learning Filipino Firm”?, Raymund B. Habaradas

DLSU Business & Economics Review

“The learning Filipino firm” can be classified into three types, namely the reactive firm, which is a reluctant learner; the adaptive firm, which is an eager learner; and the generative firm, which is a dynamic learner. This typology is based on the hypothesis that a firm’s learning style and its innovative capability is influenced by its organizational design. Among the key dimensions that must be considered are as follows: (a) organizational strategy, (b) organizational structure, and (c) organizational culture. These dimensions are closely intertwined, and, therefore, collectively influence a firm’s ability to constantly renew itself.

2008-2009 Operating Budget (Bor-Forms) Southern University At New Orleans, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

2008-2009 Operating Budget (BOR-FORMS) of the Southern University at New Orleans Campus.

Land Conservation And Land Use In New England: Trends, Challenges & Opportunities, Amanda Loomis, Tom Devine, Andrea Small, Brittany Howard, Brett Richardson, Stephanie Dulac

Land Conservation

Sprawling development patterns accelerated across the New England landscape in the last three decades and consumed the region‘s forests, farms, and open spaces at an unprecedented rate. New England‘ers in all six states formed land trusts, supported statewide conservation organizations, and collaborated with state and federal partners to protect some of their most-prized recreation lands, wildlife habitats, and working lands. The current economic recession has slowed development pressures across the region and offers an opportunity to build on recent successes. The time is right to plan a coordinated New England conservation strategy that protects and links the region‘s natural assets. …

How Liquid Are Liquid Hedge Funds?, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

Many hedge funds impose minimal share restrictions and allow investors to redeem on a monthly basis or better. We find that there is significant variation in the liquidity risk exposure of these “liquid” funds. Within this group of funds, those that embrace liquidity risk outperform those that eschew liquidity risk by 4.86 percent per year. As a consequence of the liquidity risk exposure, funds experiencing outflows subsequently earn lower returns than funds receiving inflows. The effects of flows are more pronounced for funds employing leverage, for funds with high liquidity risk exposure, and during a liquidity crunch. These results underscore …

South Burlington Vt: New Urbanist South Village, Jack Kartez, Richard Barringer

Planning

The 220 acre master plan for South Village, the largest project in the City of South Burlington’s history, encompasses multiple housing types and innovative provisions for affordable housing. It integrates housing with open space and natural resource conservation, including a major Community Supported Agriculture project developed by a nonprofit partner, the Intervale Foundation. While not a mixed-use project (that is, commercial as well as residential development), South Village nonetheless represents a qualitative change in approach for South Burlington by incorporating large-scale open space preservation as part of development and multiple housing-types in one project. The case study recounts events leading …

The Predictive Content Of Aggregate Analyst Recommendations, John S. Howe, Emre Unlu, Xuemin (Sterling) Yan

Department of Finance: Faculty Publications

Using more than 350,000 sell-side analyst recommendations from January 1994 to August 2006, this paper examines the predictive content of aggregate analyst recommendations. We find that changes in aggregate analyst recommendations forecast future market excess returns after controlling for macroeconomic variables that have been shown to influence market returns. Similarly, changes in industry-aggregated analyst recommendations predict future industry returns. Changes in aggregate analyst recommendations also predict one-quarter-ahead aggregate earnings growth. Overall, our results suggest that analyst recommendations contain market- and industry-level information about future returns and earnings.

Price Trends And Patterns In Technical Analysis: A Theoretical And Empirical Examination, Geoffrey C. Friesen, Paul Weller, Lee Dunham

Department of Finance: Faculty Publications

While many technical trading rules are based upon patterns in asset prices, we lack convincing explanations of how and why these patterns arise, and why trading rules based on technical analysis are profitable. This paper provides a model that explains the success of certain trading rules that are based on patterns in past prices. We point to the importance of confirmation bias, which has been shown to play a key role in other types of decision making. Traders who acquire information and trade on the basis of that information tend to bias their interpretation of subsequent information in the direction …

Market-Based Capabilities And Financial Performance Of Firms: Insights Into Marketing's Contribution To Firm Value, Sridhar N. Ramaswami, Rajendra K. Srivastava, Mukesh Bhargava

Research Collection Lee Kong Chian School Of Business

While there is recognition that market-based capabilities contribute to a firm’s financial performance, the exposition is largely conceptual (Srivastava et al. Journal of Marketing 62:2–18, 1998; Journal of Marketing 63:168–179, 1999). Using a resource based view of the firm, the present study proposes that (1) market-based assets and capabilities of a firm impacts (2) performance in three market-facing business processes (new product development, supply-chain and customer management), which in turn, influence (3) the firm’s financial performance. It develops related hypotheses and tests the framework empirically. The study also examines for the first time the interrelationship among the three business processes …

Mission Statements: The Soul Of An Organization, Brian Johns

Honors Theses

When a culture is created or decisions are made, the presence of a viable mission statement is critical. This document can be used as a tool to create a business environment employees are attracted to, as a model for how decisions should be made, and is an image of who the company is and what it does. This paper looks to explore the makeup of a good mission statement through scholarly articles and research and the effect it has on corporate culture through real life examples of top companies in a variety of industries, supported by first-hand experience from the …

George Soros' New Paradigm For Financial Markets

Brigham Young University International Law & Management Review

No abstract provided.

An Investigation Of A Methodology To Assess District Performance, Peter Simpson, Robert K. Gable, Stacey L. Kite

School Finance and Student Achievement

This study investigates a resource-based methodology to assess district performance as an indicator of student achievement on standardized assessments. The problem that this investigation addresses is that performance measurement and the associated decision-making is indeterminate. There is a lack of empirical research that relates decision-making about resource utilization to performance.

The study utilizes structuralism to assess the relationship between the independent variable of resource utilization and the dependent variable performance. Complex Adaptive System theory is used as a framework for Concept Mapping methodology. The study is grounded in theories from Complex Adaptive Systems and Microeconomics that state that performance is …

An Elusive Search For The Holy Grail Via Japan’S Lost Decade, Knowledge@Smu

Knowledge@SMU

Why did the Wall Street crash of October 1929 cause the global economy to decline and stagnate over a long time? Till today, macroeconomists are still trying to answer what Ben Bernanke describes as the “Holy Grail” – an enlightened understanding of what went wrong. Richard Koo, author of “The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession”, attempts an explanation with the “balance sheet recession” concept, based on his observations in Japan, where companies try to pay down their debt on time, if not earlier.

Investigating The Persistence Of Hedge Fund Returns Over The Period Of 1998 To 2005, John Conway

Financial Analyst

No abstract provided.

Financial Planning For High School Students, Evan Weissman

Renée Crown University Honors Thesis Projects - All

The global financial crisis of the early 21^st century has taught us many things about human nature, our societal goals and the finance industry overall. Perhaps the most surprising finding, however, has been the observance of financial illiteracy among the general public. The combination of greed and ignorance towards financial responsibility has played an important role in the collapse of our financial system.

The financial illiteracy of our society has been an epidemic in our country for some time. Financial planning is a topic that has been rarely taught in high schools. This has lead to an influx of …