Open Access. Powered by Scholars. Published by Universities.®

Finance and Financial Management Commons™

Open Access. Powered by Scholars. Published by Universities.®

Discipline
Institution
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 7471 - 7500 of 9490

Full-Text Articles in Finance and Financial Management

The Change In Corporate Transparency Of Korean Firms After The Asian Financial Crisis: An Analysis Using Analysts' Forecast Data, Jinho Chang, Young Jun Cho, Hyun-Han Shin Nov 2007

The Change In Corporate Transparency Of Korean Firms After The Asian Financial Crisis: An Analysis Using Analysts' Forecast Data, Jinho Chang, Young Jun Cho, Hyun-Han Shin

Research Collection School Of Accountancy

Using analysts' forecast error and forecast dispersion of firms covered by the I/B/E/S database, this study examines the change in information asymmetry of Korean firms around the financial crisis of 1997. Results show that the information asymmetry of Korean firms is lower after the financial crisis than before, implying that corporate transparency did, in effect, improve with the change in business environment. In addition, this study finds that chaebol firms have higher information asymmetry than non-chaebol firm, and also that the corporate transparency improvement of chaebol firms is not higher than that of non-chaebol firms in the post-crisis period despite …

Go to article

Information Opacity, Credit Risk, And The Design Of Loan Contracts For Private Firms, Lucy Ackert, Rongbing Huang, Gabriel G. Ramirez Nov 2007

Information Opacity, Credit Risk, And The Design Of Loan Contracts For Private Firms, Lucy Ackert, Rongbing Huang, Gabriel G. Ramirez

Faculty Articles

This paper examines the structure and cost of a large sample of bank loans to private firms. Compared to public firms, private firms are more informationally opaque and riskier. The results suggest that the design of a loan to a private firm is significantly different from that to a public firm. Bank loans to private firms are more likely to be by a sole lender, collateralized, and have sweep covenants than loans to public firms. The cost of borrowing is higher for a private firm than for a public firm, even after holding constant firm and loan characteristics.

Go to article

The Association Between Corporate Governance And Audit Fees, Cindy K. Harris Oct 2007

The Association Between Corporate Governance And Audit Fees, Cindy K. Harris

Business and Economics Faculty Publications

The Sarbanes-Oxley Act of 2002 (“SOX”) established not only corporate governance reform but also legislated significant changes to the practice of auditing publicly held corporations. Rules implemented by the Securities and Exchange Commission (“SEC”) further reinforced stronger corporate governance standards. The effect of these reforms on the cost of public audits is indisputable: the initial rise in audit fees was dramatic as corporations complied with the new provisions. This paper examines the relationship between corporate governance characteristics and audit fees for a random sample of 100 publicly traded corporations drawn from the 2005 Fortune 500 list. The data is obtained …

Go to article

Top Performing Hedge Funds: Does Geography Make A Difference?, Knowledge@Smu Oct 2007

Top Performing Hedge Funds: Does Geography Make A Difference?, Knowledge@Smu

Knowledge@SMU

Do hedge funds earn above-average returns? Is there a way to identify these top performers? Where hedge funds are located makes the difference, according to Singapore Management University finance professor Melvyn Teo, who is also director of the university’s BNP Paribas Hedge Fund Centre. Teo puts forward evidence for the hypothesis that locally-managed hedge funds are better able to monitor their investments and, therefore, generate superior returns.

Go to article

Patterns Of District Performance In Student Achievement: Connecting Resources To Student Achievement, Peter Simpson, Robert K. Gable, Stacey L. Kite Oct 2007

Patterns Of District Performance In Student Achievement: Connecting Resources To Student Achievement, Peter Simpson, Robert K. Gable, Stacey L. Kite

School Finance and Student Achievement

This presentation is the first sequence of a three-phase study using a mixed method sequential explanatory strategy (Creswell, 2003). The study is research in-progress that investigates how resources can increase or diminish the value resources as they move through the education delivery system contributing in variations in its overall performance (Porter, 1985). The study is unique, because it combines, and is based on microeconomic and complex adaptive theories to examine resource utilization within school districts. This first sequence has two analytical goals and steps: (1) to verify the significant correlation, but with patterns of variability for district performance measured by …

Go to article

Fil News, Fall 2007, Illinois State University, Department Of Finance, Insurance, And Law Oct 2007

Fil News, Fall 2007, Illinois State University, Department Of Finance, Insurance, And Law

FIL News

Newsletter of the Department of Finance, Insurance, and Law

Go to article

Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu Oct 2007

Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu

Knowledge@SMU

China’s Securities Regulatory Commission (CSRC) stands out in its approach to tighten restrictions for listed companies wanting to initiate rights issues or seasoned equity offerings (SEOs). The country’s experience, relevant to other emerging markets, is the subject of a research paper published recently in the International Journal of Accounting, co-authored by Kevin C.W. Chen, accounting professor at the Hong Kong University of Science and Technology and Singapore Management University accounting professor Jiwei Wang. --------------------------------------------------------------------------------

Go to article

Interest Rates In The Sub-Prime Mortgage Market, Souphala Chomsisengphet, Anthony Pennington-Cross Oct 2007

Interest Rates In The Sub-Prime Mortgage Market, Souphala Chomsisengphet, Anthony Pennington-Cross

Finance Faculty Research and Publications

No abstract provided.

Go to article

An Empirical Examination Of Jump Risk In U.S. Equity And Bond Markets, Lee M. Durham, Geoffrey C. Friesen Oct 2007

An Empirical Examination Of Jump Risk In U.S. Equity And Bond Markets, Lee M. Durham, Geoffrey C. Friesen

Department of Finance: Faculty Publications

ABSTRACT
Actuaries manage risk, and asset price volatility is the most fundamental parameter in models of risk management. This study utilizes recent advances in econometric theory to decompose total asset price volatility into a smooth, continuous component and a discrete (jump) component. We analyze a data set that consists of high-frequency tick-by-tick data for all stocks in the S&P 100 Index, as well as similar futures contract data on three U.S. equity indexes and three U.S. Treasury securities during the period 1999–2005. We find that discrete jumps contribute between 15% and 25% of total asset risk for all equity index …

Go to article

The Microcredit Impact: The Evaluation And Effects Of Microloans On Caboclos Communities Of The Tapajós River, Robert Chew Oct 2007

The Microcredit Impact: The Evaluation And Effects Of Microloans On Caboclos Communities Of The Tapajós River, Robert Chew

Independent Study Project (ISP) Collection

In 2002, Projeto Saúde e Alegria, an NGO dedicated to improving the health, education and socio-economic situation of rural caboclos communities of the greater Santarém region of Pará, began a microcredit program to facilitate the creation of alternative sources of income and poverty reduction within the communities. Three years later in 2005, the program was cancelled indefinitely due to low repayment rates. The following study attempts to identify and analyze what problems occurred within the microcredit program that led to the project’s eventual failure. Additionally, speculation into whether the program helped certain communities reduce poverty will also be investigated to …

Go to article

European Venture Capital Market: Scaling Beyond Current Boundaries, Gerard George, Eva Nathusius Oct 2007

European Venture Capital Market: Scaling Beyond Current Boundaries, Gerard George, Eva Nathusius

Research Collection Lee Kong Chian School Of Business

This study systematically documents the perceptions of LPs, venture capitalists and entrepreneurs and their views of the trends and challenges facing the European venture capital market. The interest from LPs in European venture capital funds was found to be neutral to marginally negative because of historical returns. However, buoyancy in the supply of high quality opportunities at reasonable valuations has the potential to improve this outlook. The findings suggest that European venture capitalists still face structural barriers in the form of heterogeneous consumer preferences, improving but weak exit and fundraising environments, and the scarcity of LPs of significant size. The …

Go to article

2007-2008 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration. Sep 2007

2007-2008 Operating Budget: Southern University Law Center, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 2007-2008 Fiscal Year Operating Budget of the Southern University Law Center. Final Printing.

Go to article

2007-2008 Operating Budget (Final Printing): Southern University And A & M College, Southern University System. Office Of Finance & Administration. Sep 2007

2007-2008 Operating Budget (Final Printing): Southern University And A & M College, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The 2007-2008 Operating Budget of the Southern University and A & M College Campus. Final Printing.

Go to article

2007-2008 Operating Budget (Final Printing): Southern University At Shreveport, Southern University System. Office Of Finance & Administration. Sep 2007

2007-2008 Operating Budget (Final Printing): Southern University At Shreveport, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University at Shreveport Operating Budget for the fiscal year 2007-2008, and Actuals for 2006-2007. Include the Intercollegiate Athletic Budget.

Go to article

2007-2008 Operating Budget Final Printing, Southern University System. Office Of Finance & Administration. Sep 2007

2007-2008 Operating Budget Final Printing, Southern University System. Office Of Finance & Administration.

All Southern University System Budgets

The Southern University System, Southern System Office Operating Budget 2007-2008 Final Printing.

Go to article

Some Perspectives On The Actuarial Adequacy Of The Pension Benefit Guarantee Corporation, Andrew Frank Thompson Sep 2007

Some Perspectives On The Actuarial Adequacy Of The Pension Benefit Guarantee Corporation, Andrew Frank Thompson

UNIversitas: Journal of Research, Scholarship, and Creative Activity

This paper analyzes the actuarial adequacy of PBGC in providing insurance coverage to employees participating in single employer, defined benefit pension plans. The first part of this investigation examines the micro and macro economic factors that impact the financial stability and actuarial viability of PBGC. A second section discusses externalities that may contribute to suboptimal premiums and adverse selection for PBGC. A linear control model is introduced to analyze the most effective way PBGC might use its $100 million credit line with the Department of the Treasury. In addition, a model based on the economic theory of clubs develops relationships …

Go to article

Mission Drift Understand It, Avoid It, James Copestake Sep 2007

Mission Drift Understand It, Avoid It, James Copestake

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Center News, Esr Review Sep 2007

Center News, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Innovation Spurs Growth, Jasmine Mohanty, Jasmine; Panda, Debadutta K. Panda Sep 2007

Innovation Spurs Growth, Jasmine Mohanty, Jasmine; Panda, Debadutta K. Panda

Journal of Microfinance / ESR Review

Product innovations are different and specific to MFIs, but all focus on one feature: they are all geared toward providing a wider range of financial products and intermediation options. These innovations are the launching pad and competitive advantage for MFIs, but most people are confused about these innovations.

Go to article

Editor's Introduction: Finding Balance, Paul C. Godfrey Sep 2007

Editor's Introduction: Finding Balance, Paul C. Godfrey

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Vol. 09 No. 2 Esr Review, Esr Review Sep 2007

Vol. 09 No. 2 Esr Review, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Trade-Offs Between Social And Financial Performance, Gary Woller Sep 2007

Trade-Offs Between Social And Financial Performance, Gary Woller

Journal of Microfinance / ESR Review

True or False: Trade-offs occur between social performance and financial performance in microfinance. Conventional wisdom says true. Extending formal financial services to poor and hard-to-reach clientele necessarily entails higher costs and lower per unit returns and is, subsequently, harder to scale up. The trade-off inherent in this relationship creates incentives for microfinance institutions (MFIs) to move up-market and away from their traditional poor clientele—a phenomenon known as mission drift.

Go to article

Front Matter, Esr Review Sep 2007

Front Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

End Matter, Esr Review Sep 2007

End Matter, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu Sep 2007

Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu

Knowledge@SMU

At a recent Singapore Management University School of Economics Distinguished Lecture, Stanford University international economics professor Ronald I. McKinnon warned of a possible ‘lost decade’ of falling price levels and undesirably low interest rates in China, similar to those experienced by Japan in the 1990s. McKinnon draws parallels between Japan in the late 1980s and present day China in his paper entitled “Why China Should Keep its Exchange Rate Pegged to the Dollar: A Historical Perspective from Japan”. --------------------------------------------------------------------------------

Go to article

Partner Profiles, Esr Review Sep 2007

Partner Profiles, Esr Review

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

Closing The Gender Gap, Dwight Haase Sep 2007

Closing The Gender Gap, Dwight Haase

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

When Managers Bypass Shareholder Approval Of Board Appointments: Evidence From The Private Security Market, Matteo P. Arena, Stephen P. Ferris Sep 2007

When Managers Bypass Shareholder Approval Of Board Appointments: Evidence From The Private Security Market, Matteo P. Arena, Stephen P. Ferris

Finance Faculty Research and Publications

This paper investigates the influence of managerial entrenchment on private placements by examining the firm's decision to appoint representatives of the private investors to the board without shareholder approval. By analyzing a sample of U.S. firms that appoint directors in combination with private offerings between 1995 and 2000, we find that firms with greater managerial entrenchment are more likely to bypass shareholder approval. Firms that bypass shareholders are less likely to appoint independent directors or to elect one of these directors as chairman. We also show that the market reacts more positively to the private offering announcement when the firm …

Go to article

An Evaluation Of Credit Default Swap And Default Risk Using Barrier Option, Kevin L. Lam Sep 2007

An Evaluation Of Credit Default Swap And Default Risk Using Barrier Option, Kevin L. Lam

Honors College Theses

Credit default swaps, a traded financial instrument that provides credit protection in exchange for a periodic premium, is at the forefront of the exponential growth in the credit derivatives market, which has revolutionized the way credit risk is managed in recent years. This project offers a review into the application of option pricing theory in the valuation of default risk under a plain vanilla analysis and introduces a theoretical model that uses barrier options as a potential and perhaps more accurate tool for assessing default risk and its implications for valuing credit default swaps.

Go to article

Accessing Commercial Capital Markets, Isaac H. Smith, Michael A. Broderick, Richard G. Winsor Sep 2007

Accessing Commercial Capital Markets, Isaac H. Smith, Michael A. Broderick, Richard G. Winsor

Journal of Microfinance / ESR Review

No abstract provided.

Go to article

First Prev Next Last