Economics Commons^™

The Relationship Among The Liquidity In Real Economy, Financial Economy And Inflation, Zhaoxuan Sun

Lingnan Journal of Banking, Finance and Economics

This paper introduces the principles supporting the fisher transaction equation. Then, it transforms the traditional quantity equation, and adds the financial economic department into the equation to estimate currency liquidity respectively. We show that when liquidity enters into the real economy and the financial economy, the capital price will change earlier than the product price does. We could also interpret that the excess liquidity in the financial economy firstly affects the capital price. Then, the capital price will take positive effects on the product price. This is opposed to the influence mechanism taken by liquidity on the real economy. We …

Stock Market Efficiency In The S&P 500 With Respect To Day Of The Week, Zachary James Rodenbarger

Lingnan Journal of Banking, Finance and Economics

Theoretically speaking, we assume that markets are efficient and that investors should not be able to earn abnormal returns without privately held information. The fact that fund managers beat the market can simply be explained as luck. However, realistically speaking, the markets involve humans that do not always make rational decisions, which can lead to market inefficiencies. This paper looks into one such inefficiency which regards trading day of the week in the S&P 500 through three different forecasting periods coming before, during, and after the financial crisis of 2008. Theoretically we would expect to find no pattern or correlation …

Link Between S&P 500 And Ftse 100 And The Comparison Of That Link Before And After The S&P 500 Peak In October 2007, Michael Joseph Silk

Lingnan Journal of Banking, Finance and Economics

The paper reviews the correlation between the S&P 500 and the FTSE 100 before and during the 2008 global financial crisis. It found that The S&P 500 has a strong causation effect on the FTSE 100, both before and since the financial crisis. This link seems to have increased after the October 2007 peak in the S&P 500. Since the crisis, the FTSE 100 appears to have a weak causation effect on the S&P 500. Before the crisis there was no apparent impact on the S&P 500’s movements from movements in the FTSE 100.

The Empirical Study Of Earnings Management Based On Chinese Listed Companies, Yang Zhang

Lingnan Journal of Banking, Finance and Economics

Earnings management that is used to manipulate book earnings to an expected level has been one of the controversial topics in the accounting field. It occurs two ways: one is accrued earnings management and the other is real earnings management. Many studies show that these two methods have a reciprocal relationship based on the costs of using them. The accrued earnings management method is preferred when the accounting standards are flexible and the real earnings management is preferred when the legal systems are good. This paper verifies its findings by drawing a link to the new accounting standard announced by …

The Global Financial Tsunami : 2008, Juan Manuel Chaves Echeverri

Lingnan Journal of Banking, Finance and Economics

In 2008 a series of bankruptcies of financial institutions led the United States and the principal economies of the world into a recession of great magnitude that required exceptional government intervention.

It started on September 14th when Lehman Brothers announced that it was entering into chapter 11 bankruptcy. After this, there was intervention in recognized multinational corporations like Fannie Mae, Freddie Mac, and American International Group. There were also the bank failures of Washington Mutual and Citigroup.

The main cause of this crisis was the excessive level of leverage of the financial industry, which had its roots in the real …

Can Us Economic Variables Predict Chinese Stock Market?, Jeremy Goh, Fuwei Jiang, Jun Tu, Yuchen Wang

Research Collection Lee Kong Chian School Of Business

In the last few decades, we observed a significant increase in global economic activities and these activities may have an impact on both China's economy and stock market. Given the potential impact, we empirically examine whether US economic variables are leading indicators of the Chinese stock market. Prior to China joining the World Trade Organization (WTO) in the end of 2001, we find no statistical relationship between US economic variables and the Chinese stock market returns. However, we find US economic variables have statistically significant predictive power for periods after China's admission into the WTO. In addition, we show that …

Problematique, David A. Westbrook

Other Scholarship

No abstract provided.

Basel Iii And Credit Risk Measurement: Variations Among G20 Countries, Matt Schlickenmaier

San Diego International Law Journal

Most countries require banks to hold extra capital to protect against unforeseen financial calamities; banks with riskier loans must hold more capital than those with safer loans. Basel II, a set of international banking standards, allows banks to measure a loan’s risk in different ways: some banks make their own judgments; others use outside agencies. The recent mortgage crisis prompted banks to reevaluate these methods, in part due to banks having failed to perceive the high level of risk inherent in securitized mortgages. The international community’s response was Basel III, an updated version of its previous standards. This Comment will …

Beyond Stochastic Volatility And Jumps In Returns And Volatility, Garland Durham, Yang-Ho Park

Finance

While a great deal of attention has been focused on stochastic volatility in stock returns, there is strong evidence suggesting that return distributions have time-varying skewness and kurtosis as well. Under the risk-neutral measure, for example, this can be seen from variation across time in the shape of Black-Scholes implied volatility smiles. This paper investigates model characteristics that are consistent with variation in the shape of return distributions using a stochastic volatility model with a regime-switching feature to allow for random changes in the parameters governing volatility of volatility, leverage effect and jump intensity. The analysis consists of two steps. …

Strategic Planning For Expanding Medicare And Medicaid Populations, Dave Zoeller

Accounting and Finance Faculty Publications

No abstract provided.

University Of Arkansas Athletics Economic Impact, Katherine A. Deck, Mervin Jebaraj

Publications and Presentations

The Center for Business and Economic Research in the Sam M. Walton College of Business at the University of Arkansas was approached by the Athletic Department to conduct an economic impact study of its operations and the visitor impacts associated with the athletic events held on the University of Arkansas campus. This study examines the economic impact of the athletic department from three broad categories of activities that produce economic impacts. The first category presented in this study is the direct economic impacts of the operations of the University of Arkansas Athletic Department, using annual expenditures of the department and …

Estimating The Economic Impact Of Garvan Woodland Gardens, Katherin A. Deck, Viktoria Riiman

Publications and Presentations

The study is organized as follows. First, the facilities and programs at Garvan Woodland Gardens are described in detail. Next, information on visitor and member counts, employment and volunteers, and financial information from the Gardens are provided. Finally, the results of the economic impact analysis from the IMPLAN input‐output model are presented for employment, value‐added, and output impacts on the Hot Springs area and the state of Arkansas. The detailed employment and output impacts by industry are available in the Appendix. Estimated employment impacts are compared to the county and state employment data from the Bureau of Labor Statistics to …

Sustainable Water Management On Brownfields Sites, Ryan Fenwick, New England Environmental Finance Center

Sustainable Communities Capacity Building

This practice guide was developed by the Environmental Finance Center Network (EFCN) through the Capacity Building for Sustainable Communities program funded by the US Department of Housing and Urban Development and the US Environmental Protection Agency. Through a cooperative agreement with HUD, EFCN is providing capacity building and technical assistance to recipients of grants from the federal Partnership for Sustainable Communities, an interagency collaboration that aims to help towns, cities, and regions develop in more economically, environmentally, and socially sustainable ways.

Mexico Consensus Economic Forecast, Volume 15, Number 4, Thomas M. Fullerton Jr, Adam G. Walke

Departmental Papers (E & F)

No abstract provided.

Who Defaults On Their Home Mortgage?, Eric Doviak, Sean P. Macdonald

Publications and Research

Since Feb. 13, 2010, detailed information on every home mortgage default and foreclosure in New York State must be filed with the New York State Department of Financial Services (DFS). The data come from pre-foreclosure filing (PFF) notices that mortgage servicers must send to both the borrower and the DFS 90 days prior to initiating the foreclosure process and when a foreclosure has commenced. Pairing the PFF data with data on originations from the Home Mortgage Disclosure Act (HMDA) reveals the race and ethnicity of borrowers who defaulted on their home mortgages. HMDA analyses consistently reveal strong racial and ethnic …

Foreign Direct Investment: Clearing The Infrastructure Bottlenecks, Kim Song Tan, Sim Yee Lau

Research Collection School Of Economics

No abstract provided.

Asset Prices, Credit Growth And Monetary Policy In Nigeria, Kama Ukpai, Dinchi J. Yilkudi, Hannah Ukeje

Economic and Financial Review

This paper contributes to the debate on the monetary policy transmission mechanism in Nigeria. The paper explores the impact of monetary policy on credit growth, and whether these credit developments are capable of influencing asset prices (stock prices) in the Nigerian economy. Using the VAR model spanning annual data from 1986 to 2012, the impulse response functions revealed that the relationship between asset prices, captured by the All-Share Index, and monetary policy, is not direct, but operates mainly through the response of inflation to key monetary aggregate. A positive shock to money supply growth would raise credit and inflation which …

Research On Risk Management Of Ship Financial Leasing In Cimc Financial Leasing Company, Zhangcheng Shi

World Maritime University Dissertations

No abstract provided.

Research On The Fluctuation Ship Price In New-Building Market, Tianhang Xiao

World Maritime University Dissertations

No abstract provided.

Financial Feasibility Analysis Of Ship Sale-Leaseback Base On Excel Model, Xi Lin

World Maritime University Dissertations

No abstract provided.

The Motives Of Trade Credit Usage And The Importance Of Risk Perception For Decision-Making Behavior, Kun Zhao

Dissertations

The objective of this study is to discuss two motives of trade credit usage for large and small firms. To examine one of the motives–transaction motive—the study models a circulation mechanism in trade credit. The nature of the mechanism is such that firms are motivated to balance their trade credit inflows (accounts payable) with their outflows (accounts receivable). An empirical test is therefore needed to examine this issue. The findings in Chapter 1 support the theory of transaction motive that firms with more bank tolerance are more likely to advance the flow of trade credit to their clients. In particular, …

A Survey Of Effects Of International Trade On Growth, Maria H. Ramjerdi

Department of Economics Faculty Scholarship and Creative Works

For many centuries economist simply upgrades Riccardian models and argued that free trade based on comparative advantage and according to geographical distribution of factors of production and specialization leads to efficient use of resources and increases world production frontier a “win-win” situation.While according to liberal economist trade liberalization creates faster growth there are economists who proclaimed that countries become more dependent on foreign resources which control process domestic growth and development.Recent models incorporate economies of scale, imperfect competition, R&D and assume that trade liberalization determine the geographical location of industries therefore gain from trade (Helpman and Krugman, 1985). …

Analysis Of Bank Failure And Size Of Assets, Guancun Zhong

UNLV Theses, Dissertations, Professional Papers, and Capstones

The financial health of the banking industry is an important prerequisite for economic stability and growth. Bank failures in the United States have run in cycles largely associated with the collapse of economic bubbles. The number of bank failures has increased dramatically over the last thirty years (Halling and Hayden, 2007). In this thesis, we try to address the following two questions: 1) What is the relationship, if any, between a bank's asset size and its likelihood of failures? 2) How can we use statistical tools to predict the numbers of bank failures in the future? Various modeling techniques are …

تقويم أنظمة الرقابة الداخلية في قطاعات وزارة التربية دراسة تطبيقية / قسم الرقابة والتدقيق الداخلي للمديرية العامة لتربية القادسية, نجم عبد عليوي الكرعاوي

Muthanna Journal of Administrative and Economics Sciences

تقويم أنظمة الرقابة الداخلية في قطاعات وزارة التربية المديرية العامة لتربية القادسية – قسم الرقابة والتدقيق الداخلي . استهدف البحث لتقويم أنظمة أجهزة الرقابة والتدقيق الداخلي في المديرية العامة لتربية القادسية ولمعرفة أهم المشاكل الرقابية إيجاد الحلول الناجحة لها وقد استخدم الباحث في الجانب النظري الأسلوب الوصفي والتحليل الإحصائي في الجانب العملي وقد هيئة لهذا الغرض استمارات استبيان محكمة تألفت من خمسة محاور اذ توصلت إلى مجموعة من الاستنتاجات كان أهمها أداء الاهتمام المتزايد بأنظمة الرقابة الداخلية وتحوله من نظام تدقيق شامل الى الانتقائي أو الإختياري ليتسنى لها تقيم كفاءة أداء الأنشطة الداخلية في المديرية العامة للتربية وخرج الباحث بجملة …

دور أساليب المحاسبة الادارية الاستراتيجية في خدمة الادارات الاستراتيجية للمنظمات المعاصرة في العراق, حمزة صادق حسوني

Muthanna Journal of Administrative and Economics Sciences

تطبيق الإدارة الاستراتيجية للمؤسسات العراقية، من خلال دراسة هذه الأساليب والتقنيات، ومن ثم هذا الموضوع في الميدان من خلال توزيع – هذه الدراسة تهدف إلى إدخال أساليب وتقنيات المحاسبة الإدارية الاستراتيجية ودورها في خدمة أهداف إدارة المعاصرة الاستبيان في بعض الشركات. استخدمنا المنهج الوصفي التحليلي في الجزء النظري من الدراسة، حيث حاولنا أن تبين أهم الأفكار حول موضوع المحاسبة الإدارية الاستراتيجية وأساليب وتقنيات، واستخدمنا نهج تطبيق، حيث كنا استبيان المسح إلى جمع البيانات من تطبيق الشركات (7) الصناعية العراقية مع (45) الأفراد. وخلصت الدراسة إلى العديد من الحقائق مع مثل هذا الاتجاه من الشركات نحو استخدام وتطبيق المفاهيم الاستراتيجية في …

Estimating Willingness To Pay For Continued Use Of Plastic Grocery Bags And Willingness To Accept For Switching Completely To Reusable Bags, Jarod Dunn

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This thesis demonstrates a surveying method to collect data to obtain tax levels for plastic grocery bag usage. This data was collected through asking respondents about a hypothetical situation in which they were required to pay a tax for using plastic bags or whether they would instead switch to using reusable bags that could be purchased at the grocery store. The respondents were also asked if they already were using reusable bags, how much would the store have to pay them for them to use reusable bags for all grocery shopping trips. From our analysis, people who use reusable bags …

المعايير المحاسبية العراقية ومدى توافقها مع المعايير المحاسبية الدولية على تطوير الممارسات المحاسبية في العراق – دراسة مقارنة للتوفيق بين المعايير, ميادة جعفر ناجي

Muthanna Journal of Administrative and Economics Sciences

تكشف الدراسة الحالية متطلبات التوافق والتطبيق بين معايير المحاسبة الدولية ومعايير المحاسبة العراقية في ظل الظروف البيئية الدولية والعراقية من خلال (أجراء دراسة مقارنة )، لتقريب وتوضيح وجهات النظر ولتحقيق التوافق بينهما، وهنا برز هدف الدراسة للكشف عن ما توصلت إليه المعايير الدولية من تطوير للأداء والممارسات المحاسبية , ومن ثم عكس تجربة البيئة الدولية ومحاولة تطبيقها في البيئة العراقية بقصد تقليل أو سد الفجوة بين متطلبات تطبيق المعايير الدولية والعراقية من اجل إيجاد ممارسات محاسبية تتوافق مع تلك الدولة لتوحيد اللغة المحاسبية وإضفاء الوضوح والموثوقية والمصداقية على تلك التطبيقات ،وضرورة الأخذ بمتطلبات التوافق والتطبيق مع البيئة الدولية وهذا أهم …

Socio-Economic Determinants Of Out-Of-Pocket Payments On Healthcare In Pakistan, Ashar Muhammad Malik, Syed Iqbal Azam Shah

Community Health Sciences

BACKGROUND:

Out-of-pocket (OOP) payment on healthcare is dominant mode of financing in developing countries. In Pakistan it is 67% of total expenditure on healthcare. Analysis of determinants of OOP health expenditure is a key aspect of equity in healthcare financing. It helps to formulate an effective health policy. Evidence on OOP in Pakistan is sparse. This paper attempts to fill this research gap.

METHODS:

We estimated determinants of OOP payments on healthcare in Pakistan. We used data sets of Pakistan Household Integrated Economic Survey (HIES) and Pakistan Standard of Living Measurement (PSLM) Survey for the year 2004-05. We developed a …

Detecting Bubbles In Hong Kong Residential Property Market, Matthew S. Yiu, Jun Yu, Lu Jin

Research Collection School Of Economics

This study uses a newly developed bubble detection method (Phillips, Shi and Yu, 2011) to identify real estate bubbles in the Hong Kong residential property market. Our empirical results reveal several positive bubbles in the Hong Kong residential property market, including one in 1995, a stronger one in 1997, another one in 2004, and a more recent one in 2008. In addition, the method identifies two negative bubbles in the data, one in 2000 and the other one in 2001. These empirical results continue to be valid for the mass segment and the luxury segment. However, the method finds a …

Mexico Consensus Economic Forecast, Volume 15, Number 3, Thomas M. Fullerton Jr., Adam G. Walke

Departmental Papers (E & F)

No abstract provided.