Economics Commons^™

Russia's Northern Rook: Nord Stream 2 On The European Energy Chessboard, David E. Wilson

Independent Study Project (ISP) Collection

The Nord Stream 2 pipeline proposes to connect Germany to the world’s largest natural gas reserves in Russia, allowing the state-owned Russian energy behemoth Gazprom to double its export capacity through the ‘Northern Corridor’ transit route to Europe. This project has been the subject of sharp disapproval from Central and Eastern European countries, as well as the United States, which fear the prospect of increasing dependence on gas imports from a Russia perceived as politically aggressive and unreliable. This paper will identify the geopolitical and geoeconomic implications involved in the construction of Nord Stream 2 by adopting a geostrategic worldview …

Evaluating Frameworks For Multilateral Investor-State Dispute Settlement, Danielle Rosenthal

Independent Study Project (ISP) Collection

Utilizing both empirical studies of investor-state dispute settlement (ISDS) regimes and the accounts of both public and private practitioners of these processes, this study aims to inform public policymakers, multinational corporation leadership, and academic researchers on some of the key issues to consider when developing a multilateral friendly ISDS regime. By analyzing the procedural and functional details of both traditional arbitration (via the International Centre for Settlement of Investment Disputes and the United Nations Commission on International Trade Law) and investment dispute courts (via those proposed in the Trans-Atlantic Trade and Investment Partnership and the EU Canada Comprehensive Economic and …

Do Security Analysts Learn From Their Colleagues?, Kenny Phua, T. Mandy Tham, Chi Shen Wei

Research Collection Lee Kong Chian School Of Business

We examine how learning from colleagues affects security analyst forecast outcomes. We represent the brokerage house as an information network of analysts connected through industry overlaps in their coverage portfolios. Analysts who are more centrally connected in their brokerage network produce more accurate forecast estimates and generate more influential forecast revisions. Consistent with learning, more central analysts tend to unwind their colleagues’ recent forecast errors in their forecast revisions. Learning appears to benefit all colleagues, as working at more interconnected brokerages (i.e., denser networks) improves forecast accuracy for all analysts.

Nebraska Monthly Economic Indicators: September 20, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.38% during August of 2017. The decline in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow slowly during the first few months of 2018. The drop in the indicator was primarily due to a decline in manufacturing hours-worked during August. Building permits for single-family homes and airline passenger enplanements also dropped slightly. There were two positive components of the LEI-N. Businesses responding to the August Survey of Nebraska Business reported plans to increase sales and employment over …

Emerging Dynamics Of Management: Book Launch Ceremony Remarks, Ishrat Hussain Dr.

Faculty Research - Talks, Speeches, & Discourse

Several years ago, there was book called, What they Don't Teach you at Harvard Business School. The tile of Mr. Sirajuddin's book could simply be: What they don't teach you in Business School and Management Schools. Period. There are some lessons that you learn from a very personal and professional experience, which is accumulated overtime. It is reflected, digested, accumulated and then it is shared. The beauty of this book is that you will find these anecdotes to be a subset of the generalized obser vations about of management. I will not go into strateaies, structures, processes of human resource …

Nebraska Business And Consumer Confidence Indexes: September 1, 2017, Eric Thompson

Leading Economic Indicator Reports

Nebraska’s consumer and business confidence fell during August. The Consumer Confidence Index – Nebraska (CCI-N) stood at 100.9 in August, below the reading of 102.5 from July. Notably, the CCI-N remained above the neutral value of 100.0 during August. The outlook of Nebraska businesses remained strong. The Business Confidence Index – Nebraska (BCI-N) stood at 104.2 in August, close to the value of 105.1 during July, and well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 35 percent of business respondents. Businesses also faced growing competition in …

Impact Of Socioeconomic Factors On Florida Consumers' Perceptions On Use Of Chemical In Locally Or Regionally Produced Livestock Products, David Nii O. Tackie, Akua Adu-Gyamfi, Janette R. Bartlett, Bridget J. Perry

Professional Agricultural Workers Journal

Abstract

The use of chemicals in livestock production has been an issue for consumers for several decades. This study, therefore, assessed the impact of socioeconomic factors on Florida consumers’ perceptions on the use of chemicals in locally or regionally produced livestock products. Data were collected from a sample of 404 participants from several Florida counties and were analyzed using descriptive statistics and ordinal logistic analysis. Most of the respondents were of the opinion that using chemicals in locally or regionally produced and sold beef or goat meat was a serious or somewhat serious hazard. The ordinal logistic regression results showed …

An Application Of Box-Jenkins Approach In Forecasting Nigerian Crude Oil Prices., Bashir Umar Faruk

Bullion

Nigerian government has been adopting Moving Average (MA) method in pegging crude oil price benchmark. However, large discrepancy between the projected oil price benchmark and the actual international crude oil prices is observed over time. Therefore, the main objective of this research is to investigate whether Box-Jenkins approach could provide a lasting solution to the problem of inefficient oil price forecast in the Nigerian budgeting process. In our quest for an appropriate oil benchmark, monthly bonny light crude oil prices for the period of April 1986 to December 2015 are used.

Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan

Bullion

The fall in crude oil in the international market has expose Nigeria's vulnerability to external shocks and overdependence on a mono-product economy thereby presenting the opportunity for Nigeria to diversify its economy away from oil into agriculture, manufacturing services and other non-oil sectors. This paper examines the need to support key sectors that are drivers of growth and to also upscale its developmental finance initiatives targeted at economic growth, deepening of deepening of credit delivery to the real sector. The paper highlighted focal areas and the interventions by CBN in these areas to include Agricultural sector; Infrastructure; Manufacturing sector; MSMEs …

Fss 2020 Financial Markets Programme: Progress So Far, Charles Ohamara

Bullion

The Financial System Strategy (FSS) 2020 is a national reform program aimed at developing and transforming Nigeria's financial sector into a growth catalyst to fast track the achievement of the Vision 20:2020 and engineer Nigeria's evolution into on International Financial Centre. The strategic objectives of FSS2020 are to strengthen and deepen the domestic financial markets, enhance the integration of domestic financial markets with the external financial markets and supporting the reals sector. To attain these objectives, the key regulators of the Nigerian financial system come together under the leadership of the Central Bank of Nigeria and crafted the vision to …

Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha

Bullion

MSMEs play a major role in most economies, especially in developing countries. This paper examines the opportunity provided by FSS2020 to enhance development of the MSME sector in Nigeria. The paper begins by examining the concept of FSS2O2O strategy for the MSME sector with specific focus on the six (6) Strategic Objectives and three (3) Transformational Programs to drive the development of the sector. These strategic objectives and the respective initiatives have a high multiplier effect on the entire Nigeria financial system. The six objectives ore: Advocate and Work with the government to Drive SME development, 2. Promote Financial Reporting …

Transforming The Insurance Sector In Nigeriain Using The Fss 2020 Platform, Chris O. Muo

Bullion

The National lnsurance Commission (NAICOM) is the statutory Regulatory body of insurance business created to ensure the effective administration, supervision and regulation of insurance business and regulate transactions between insurers and reinsurers within and outside Nigeria. FSS 2020 Insurance Sector, in collaboration with NAICOM aims to deepen the insurance market; ensure lnsurance credibility and protect policy holders; Embed governance and risk management framework for the lnsurance Companies; Enhance access to finance (financial inclusion) with business development support and new products; and risk-based capitalization of lnsurance Companies.

Transforming The Mortgage Sub-Sector Using The Fss 2020 Platform, Patrick E. Aririguzo

Bullion

This paper examines the Mortgage sector of FSS2020 Strategy document which falls within the category of the drivers of the FSS2020 Strategy implementation blueprint. FSS2020 Mortgage: Vision and Mission. The paper further explores the Strategic Objectives of FSS2020 Mortgage Sector and the Transformational Programmes which includes: Ml - Establish a secondary mortgage market; M2 - Attract affordable international credit to fund affordable housing programmes; M3 - Advocate for mortgage ready and affordable housing. Three Transformational Programmes were designed to support the realization of the three objectives of the Mortgage Sector namely: TPl - Establishment of Mortgage Refinancing Companies (MRC) TP2 …

Surplus Consumption, Habit Utility And Moody Investors, Jun Lou

Dissertations, Theses, and Capstone Projects

The thesis examines a blend of Asset Pricing topics: joint stock-bond pricing, consumption-based asset pricing puzzles, time variation in risk preference, among others. In chapter one, I first review the literature on respective topics in search of a consolidated framework of resolution. I then propose one, a consumption-based affine model that jointly prices bond and stock in closed form. The tractable feature of the price solutions remains standard as in affine termstructure of interest rates, but presents novelty for the stock prices. In chapter two, I discuss the GMM based procedures for model estimation. In chapter three, I interpret the …

Port Competition And Cooperation In A Shipping Alliance Era : A Case Study On The Port Of Shanghai And Ningbo, Tianyi Jiang

World Maritime University Dissertations

No abstract provided.

Nebraska Monthly Economic Indicators: August 23, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 rose by 0.56% during July of 2017. The increase in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow through the first month of 2018. Four components of the indicator improved during July. Business expectations were solid and manufacturing hours grew. The value of the U.S. dollar continued its recent decline, a positive sign for Nebraska’s export-oriented businesses. Further, in a positive sign for the labor market, there also was a drop in initial claims for unemployment insurance. In terms …

Credit Risk And Corporate Governance, Olivier Mugisho Mudekereza

Theses and Dissertations

Is the executive’s compensation structure influenced by the credit rating assigned to his company? I analyze a panel of U.S. public firms using the random-effects and fixed-effects estimations. Compared to firms with lower credit risk, I find that firms facing higher probability of default provide more incentives for their CEOs.

Nebraska Business And Consumer Confidence Indexes: August 4, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence remained strong in Nebraska during July but fell from June levels. The Consumer Confidence Index – Nebraska (CCI-N) stood at 102.5 in July after a reading of 104.7 during June. Despite the decline of 2.2, the CCI-N remained above the neutral value of 100.0, indicating strong consumer confidence. The outlook of Nebraska businesses also was strong. The Business Confidence Index – Nebraska (BCI-N) fell to 105.1 in July from 109.2 in June. The BCI-N remained well above the neutral value in July, despite the 4.1 point decline, which indicates that business confidence is also strong in …

What If Bots Collide And Collude In Setting Prices?, Singapore Management University

Perspectives@SMU

Conduct driven by algorithms is a challenge for competition law

Mega-Events And Tourism: The Case Of Brazil, Robert Baumann, Victor Matheson

Economics Department Working Papers

Mega-sporting events such as the FIFA World Cup are expensive affairs. Host countries often justify the spending required to stage these events by predicting that mega-events will draw large numbers of tourists. This paper analyzes monthly foreign tourist arrivals into Brazil between 2003 and 2015 and finds that the 2014 FIFA World Cup increased foreign tourism by roughly one million visitors. This number far exceeded expectations, but we show that roughly a quarter of this increase in foreign tourism was caused by the fortuitous advancement of Argentina’s national team, and potential hosts should not count on the event to consistently …

Corruption In The Bidding, Construction, And Organization Of Mega-Events: An Analysis Of The Olympics And World Cup, Victor Matheson, Daniel Schwab, Patrick Koval

Economics Department Working Papers

In the processes required to host a sports mega-event, corruption has been prevalent on numerous occasions, leading to unnecessary costs becoming the ultimate responsibility of a host government’s taxpayers. Little progress has been made in the prevention of such behavior. In this chapter, we examine the history of corruption in sports mega-events, namely the Olympics and World Cup, to identify parts of the bidding and preparation processes that are vulnerable to illicit behavior. We propose potential solutions to be implemented at various levels in order to prevent further corruption.

Hidden Subsidies And The Public Ownership Of Sports Facilities: The Case Of Levi’S Stadium In Santa Clara, Robert Baumann, Victor Matheson, Debra O'Connor

Economics Department Working Papers

Levi’s Stadium in Santa Clara, California is an example of a private financing / public ownership arrangement. While the stadium’s construction resulted in no direct tax increases, this ownership arrangement allows the San Francisco 49ers to avoid many types of taxes on the income generated from Levi’s Stadium. We estimate the total tax savings to the 49ers at between $106 and $213 million over the first 20 years of Levi’s Stadium compared with a privately financed and owned option. We argue that tax savings inherent in private financing / public ownership arrangements represent indirect and hidden subsidies.

Effects Of Upward Football Reclassification On Revenues, Football Attendance, And Enrollment, Charles Bell

Graduate Theses and Dissertations

With an ever increasing chasm between the have and have nots in college athletics, athletic directors and university administrators view reclassification as a way to increase financial standing and gain valuable exposure for their school despite mixed findings by recent studies. The process of reclassification costs schools sizable financial and labor investments detracting from their academic endeavors. The schools at the highest level of collegiate football competition enjoy constant national television exposure for their school resulting in many direct and indirect benefits. A repeated measures ANOVA was utilized to assess the change in athletic department revenues, student enrollment and football …

Hedge Fund Performance And Derivative Hedging, Yongjia Li

Graduate Theses and Dissertations

This dissertation is comprised of three essays which focus on hedge fund performance and derivative hedging. The first essay uses ETF returns as proxies for tradable risk factors in hedge fund performance evaluation and identifies contemporaneously relevant risk factors from the entire universe of ETFs. The model provides more informative estimates of alpha and beta coefficients for predicting hedge fund out-of-sample performance compared with other widely used hedge fund factor models. Portfolios of top alpha hedge funds selected by the model generate statistically significant out-of-sample performance that is substantially higher compared with portfolios selected by other models. In addition, the …

A Cross-Sectional Exploration Of Household Financial Reactions And Homebuyer Awareness Of Registered Sex Offenders In A Rural, Suburban, And Urban County., John Charles Navarro

Electronic Theses and Dissertations

As stigmatized persons, registered sex offenders betoken instability in communities. Depressed home sale values are associated with the presence of registered sex offenders even though the public is largely unaware of the presence of registered sex offenders. Using a spatial multilevel approach, the current study examines the role registered sex offenders influence sale values of homes sold in 2015 for three U.S. counties (rural, suburban, and urban) located in Illinois and Kentucky within the social disorganization framework. Homebuyers were surveyed to examine whether awareness of local registered sex offenders and the homebuyer’s community type operate as moderators between home selling …

Clarifying The Chaos Of A Social Media Crisis: The Case Of #Deleteuber, Kimberly Legocki, Kristen Walker

School of Economics and Business Administration Faculty Works

No abstract provided.

Metropolitan Report - August 2017, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

Numerical Methods For Option Pricing Under The Two-Factor Models, Jiacheng Cai

UNLV Theses, Dissertations, Professional Papers, and Capstones

Pricing options under multi-factor models are challenging and important problems for financial applications. In particular, the closed form solutions are not available for the American options and some European options, and the correlations between factors increase the complexity and difficulty for the formulations and implements of the numerical methods.

In this dissertation, we first introduce a general transformation to decouple correlated stochastic processes governed by a system of stochastic differential equations. Then we apply the transformation to the popular two-factor models: the two-asset model, the stochastic volatility model, and the stochastic interest rate models. Based on our new formulations, we …

Twin Momentum: Fundamental Trends Matter, Dashan Huang, Huacheng Zhang, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

Using both the levels and the time-series trends of a collection of firms' major fundamentals, we find that fundamentals matter after all: they can also generate strong return momentum. A fundamental momentum strategy that goes long stocks with fundamental in the top quintile and short stocks with fundamental in the bottom quintile earns a monthly average return of 88 bps, and is comparable with the popular price momentum but has little correlation. Combining price momentum and fundamental momentum yields a twin momentum, which has an average return more than the sum of both price momentum and fundamental momentum. Twin momentum …

On The Relationship Between Household Wealth And Entrepreneurship, Jungho Lee

Research Collection School Of Economics

Motivated by a substantial number of startup owners with negative household net worth, I present a model that incorporates credit borrowing into Evans and Jovanovic [1989]. The estimated model generates no relationship between household wealth and the propensity for business entry. Ignoring credit borrowing for potential business owners substantially overstates the efficiency loss from financial constraints in business entry. However, the efficiency loss in investments by the entrants is large even if credit borrowing is allowed. Individuals who start a business once credit borrowing is available are those whose business ideas are of a high-enough quality to compensate high financing …