Finance

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.

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The Construction And Development Of Shanghai International Shipping Center, Shimin Wang

World Maritime University Dissertations

No abstract provided.

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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.

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Study The Chio Chemical Logistics Business Development Strategy Base On The Global Financial Crisis, Shang Xia

World Maritime University Dissertations

No abstract provided.

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Financial Regulatory Reform And Private Funds, Anita Krug

All Faculty Scholarship

This white paper comments on the Obama administration's June 2009 proposal for the regulation of hedge fund investment advisers.

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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. …

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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 …

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Ethics, Evidence And International Debt, Julie A. Nelson

Economics Faculty Publication Series

The assumption that contracts are largely impersonal, rational, voluntary agreements drawn up between self-interested individual agents is a convenient fiction, necessary for analysis using conventional economic methods. Papers prepared for a recent conference on ethics and international debt were shaped by just such an assumption. The adequacy of this approach is, however, challenged by evidence about who is affected by international debt, how contracts are actually made and followed, the behavior of actors in financial markets, and the motivations of scholars themselves. This essay uses insights from feminist and relational scholarship from several disciplines to analyze the reasons for this …

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Hype My Stock: Do Firms Really Want Biased Research?, Roger Loh

Research Collection Lee Kong Chian School Of Business

Analyst research is alleged to be biased because of conflicts of interest when analysts’ employers underwrite securities for the firms covered. I posit that affiliated analyst optimism should be the strongest for offering firms with a desire to over-inflate stock prices. I hypothesize that a firm’s corporate governance and its CEO incentives are related to the affiliation bias. Using stock recommendations data, I find evidence that the affiliation bias is indeed more pervasive for firms with high CEO wealth sensitivity to stock price (i.e., high CEO delta). The larger affiliation bias for high delta firms remains even after the introduction …

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Using High-Frequency Transaction Data To Estimate The Probability Of Informed Trading, Anthony S. Tay, Christopher Ting, Yiu Kuen Tse, Mitchell Warachka

Research Collection School Of Economics

This paper applies the asymmetric autoregressive conditional duration (AACD) model of Bauwens and Giot (2003) to estimate the probability of informed trading (PIN) using irregularly spaced transaction data. We model trade direction (buy versus sell orders) and the duration between trades jointly. Unlike the Easley, Hvidkjaer, and O'Hara (2002) approach, which uses the aggregate numbers of daily buy and sell orders to estimate PIN, our methodology allows for interactions between consecutive buy-sell orders and accounts for the duration between trades and the volume of trade. We extend the Easley–Hvidkjaer–O'Hara framework by allowing the probabilities of good news and bad news …

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Learn This Lesson: We Really Can't Have It All, Aaron W. Hughey

Counseling & Student Affairs Faculty Publications

No abstract provided.

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The Regulatory Response To Madoff, Anita Krug

All Faculty Scholarship

This white paper evaluates investor protection mechanisms in the securities regulatory regime at the time the Madoff fraud was exposed. It considers whether the post-Madoff call for additional regulation of hedge funds and/or their managers - and/or their respective activities - was warranted.

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The Hedge Fund Transparency Act Of 2009, Anita Krug

All Faculty Scholarship

This white paper provides a review and critique of a bill introduced by Senators Charles Grassley (R-Iowa) and Carl Levin (D-Mich.) in the Senate in early 2009 that, if enacted, would have imposed certain registration and disclosure requirements on hedge funds and certain other private funds.

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The Financial Crisis And Global Supply Chains, Robert Mefford

The financial crisis which erupted in 2007 has already had profound effects on the global supply chains of multinational firms and will likely permanently alter some fundamental supply relationships. This essay explores what some of the consequences have been to date and speculates about future effects. Of course, the length, scope, and severity of the financial and economic crisis will determine how significant and permanent these impacts are, and it is impossible at this point in time to forecast this accurately. But in any case there have already been major developments in global supply chains that are likely to persist …

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Grant Writing Handbook For Our Lady Of Fatima Parish School, Tracy Severson

Theses, Dissertations and Capstones

This manual is an applied thesis written for Our Lady of Fatima Parish School, a small Catholic school located in Huntington, West Virginia. Its purpose is to introduce novice grant writers to the terms and processes associated with grant writing for this particular parochial school. The manual guides the fledgling writer through church and school history, ideas and strategies to develop the grant, grant writing and the post-submission process. Only examples from submitted church grants are referenced and all address Our Lady of Fatima needs and mission statement. The handbook is intended as a springboard for grant writing in the …

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The Alliance Formation Puzzle And Capacity Constraints, Kai A. Konrad, Dan Kovenock

Economics Faculty Articles and Research

The formation of an alliance in conflict situations is known to suffer from a collective action problem and from the potential of internal conflict. We show that budget constraints of an intermediate size can overcome this strong disadvantage and explain the formation of alliances.

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Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Østrup, Lars Oxelheim, Clas Wihlborg

Business Faculty Articles and Research

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with …

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Indiana State University Financial Report 2009, Indiana State University

Financial Reports

No abstract provided.

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Winning, Running, And Renewing The Outsourcing Contracts, Z Perunovic, M Christoffersen, Robert Mefford

Finance

The paper explores how vendors deploy competences and capabilities across the outsourcing process in order to win, run, and renew outsourcing contracts. The results of a multiple-case study of three contract electronics manufacturers (CEMs) show that different combinations of capabilities are required for a vendor to win, run, and renew outsourcing contracts. Permanent capabilities are constantly present across the process, while temporary capabilities, depending on customer requirements, can be added or removed from the portfolio of capabilities.

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Market Volatility Asymmetries: The Effects Of Stock Market Returns On Realized And Implied Volatilities, Matthew M. Chestnut

Inquiry: The University of Arkansas Undergraduate Research Journal

Volatility is an integral and inescapable variable of financial engineering, modeling, and finance theory itself Classical financial economics proxies volatility for risk itself, as it becomes difficult to predict future price realizations of a given asset when that asset exhibits significant price volatility over a given time. However, the nature of volatility as it is explained by classical financial economics has been extensively questioned in the previous three decades, since it is characterized as a function of uncertainty aggregate market psychology-that is, as a function of fear, greed, exuberance, and other fundamental human instincts and emotions. While previous research has …

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An Analysis Of The Intra-Regional Trade In The Middle East And North Africa Region, E. M. Ekanayake, John R. Ledgerwood

Publications

This paper analyzes the intra-regional trade and investment flows in the Middle East and North Africa (MENA) region using an augmented gravity model applied to panel data. The study uses annual trade and investment data for the period 1980-2006. There is a growing awareness among countries in the MENA region regarding the importance of international trade and foreign direct investment for stimulating growth and integrating into the world economy. The research will attempt to achieve the following objectives: (a) analyze the intra-regional trade and investment flows in the MENA region; (b) identify the major determinants of trade and investment flows …

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The Rise Of Private Equity Media Ownership In The United States: A Public Interest Perspective, Matthew Crain

Publications and Research

This article examines the logic, scope, and implications of the influx of private equity takeovers in the United States media sector in the last decade. The strategies and aims of private equity firms are explained in the context of the financial landscape that has allowed them to flourish; their aggressive expansion into media ownership is outlined in detail. Particular attention is paid to the public interest concerns raised by private equity media ownership relating to the frenzied nature of the buyout market, profit maximization strategies, and the heavy debt burdens imposed on acquired firms. The article concludes with discussion of …

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"G" And "H" Control Charts And Risk Analysis In The Banking Industry, James L. Bossert

All-Inclusive List of Electronic Theses and Dissertations

This research investigates the utilization of a new control chart in the Banking industry to minimize financial risk. There are processes in the banking industry that do not lend themselves to traditional control chart applications. These processes tend to be high volume. High volume meaning over a million transactions a day and a requirement for high levels of accuracy characterize these processes. The research has looked at these processes and applied the "g" control charts to determine if they provide timely feedback to the banking industry. The value of this research will give the banking industry an opportunity to react …

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Earnings Asymmetric Timeliness And Shareholder Distributions, Richard M. Frankel, Yan Sun, Rong Wang

Research Collection Lee Kong Chian School Of Business

We study whether more asymmetrically timely earnings constrain payouts to shareholders in the presence of bad news. Our goal is to provide evidence on the ex post contracting benefits of accounting conservatism. We distinguish between cash flow asymmetric timeliness and accrual asymmetric timeliness to examine how each relates to asymmetric sensitivity of shareholder payouts. We find that only the asymmetric timeliness of cash flows is significantly related to the asymmetric sensitivity of shareholder payouts. Other measures of conservatism (earnings skewness and accumulated nonoperating accruals) are also not significantly related to the sensitivity of shareholder payouts given bad news. These results …

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Feasibility Of Jp-8 To Jet A Fuel Conversion At U. S. Military Facilities, Lance A. Vann

Theses and Dissertations

In FY06, The Department of Defense (DoD) military grade jet fuel expenditures eclipsed $6.6 billion dollars. In a search for more cost effective options, the Office of the Secretary of Defense Comptroller recently expressed interest in the quantity of commercial Jet A fuel that the United States Transportation Command uses in lieu of military grade JP-8. In accordance with AFSO 21 and LEAN concepts, this research examines the technical feasibility and opportunity for cost avoidance of a conversion from JP-8 to Jet A at six Northwestern United States military installations. The technical feasibility analysis examines the chemical likeness of JP-8 …

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Indiana State University Financial Report 2008, Indiana State University

Financial Reports

No abstract provided.

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Portfolio Construction: The Efficient Diversification Of Marketing Investments, Michael P. Haydock

Walden Dissertations and Doctoral Studies

Efforts in the marketing sciences can be distinguished between the analysis of individual customers and the examination of portfolios of customers, giving scarce theoretical guidance concerning the strategic allocation of promotional investments. Yet, strategic asset allocation is considered in financial economics theory to be the most important set of investment decisions. The problem addressed in this study was the application of strategic asset allocation theory from financial economics to marketing science with the aim of improving the financial results of investment in direct marketing promotions. This research investigated the components of efficient marketing portfolio construction which include multiattribute numerical optimization, …

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Offshore Financial Havens: Their Role In International Capital Flows, Zhixiang Sun

Dissertations and Theses Collection (Open Access)

The purpose of this paper is to study the role of offshore financial havens in international capital flows. We examine the effects of being a tax haven, a money laundering centre or an offshore financial centre (OFC), which often overlap. We want to see whether these places are used as entrepots (which means temporary storage for funds) or as investment places or both. We mainly use two complementary data sets: bilateral cross-border asset holding and financial intermediation. One is a stock variable and the other one is a flow variable. We apply the gravity model to bilateral cross-border asset holding …

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Rolling Adf Tests: Detecting Rational Bubbles In Greater China Stock Markets, Peng Huang

Dissertations and Theses Collection (Open Access)

Following Phillips, Wu and Yu (2007), this paper extends their bubble detecting work to several Greater China stock markets. Two alternative bubble detecting methods, the forward recursive ADF tests raised by Phillips et al. (2007) and the modified version, forward rolling ADF tests, are implemented and compared. Monte Carlo simulations are performed to determine the critical values of the ADF statistic under different sample size. Empirical results demonstrate that only rolling ADF tests are successful in detecting rational bubbles by overcoming the problem of periodically collapsing bubble. As we have expected, bubbles in China Mainland stock market are detected. Out …

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Stock Markets And Income Inequality: A Cross-Country Study, Elizabeth Mathew

Dissertations and Theses Collection (Open Access)

This paper conducts a comprehensive analysis to understand how stock market ratios affect net income inequality. The study of how finance impacts income distribution is relevant as the income distribution of a nation influences savings decisions, resource allocation, innovation incentives and public policy and hence impacts the process of economic development. Using a cross-sectional data set of 68 countries and panel data set of 61 countries from 1975 to 2005, I apply cross-sectional OLS and panel regressions to look at how stock market size, liquidity, and activity impact income inequality. While stock market size is found to strongly impact income …

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Full-Text Articles in Finance

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

The Construction And Development Of Shanghai International Shipping Center, Shimin Wang

World Maritime University Dissertations

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

World Maritime University Dissertations

Study The Chio Chemical Logistics Business Development Strategy Base On The Global Financial Crisis, Shang Xia

World Maritime University Dissertations

Financial Regulatory Reform And Private Funds, Anita Krug

All Faculty Scholarship

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

Economics Honors Projects

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

Planning

Ethics, Evidence And International Debt, Julie A. Nelson

Economics Faculty Publication Series

Hype My Stock: Do Firms Really Want Biased Research?, Roger Loh

Research Collection Lee Kong Chian School Of Business

Using High-Frequency Transaction Data To Estimate The Probability Of Informed Trading, Anthony S. Tay, Christopher Ting, Yiu Kuen Tse, Mitchell Warachka

Research Collection School Of Economics

Learn This Lesson: We Really Can't Have It All, Aaron W. Hughey

Counseling & Student Affairs Faculty Publications

The Regulatory Response To Madoff, Anita Krug

All Faculty Scholarship

The Hedge Fund Transparency Act Of 2009, Anita Krug

All Faculty Scholarship

The Financial Crisis And Global Supply Chains, Robert Mefford

Finance

Grant Writing Handbook For Our Lady Of Fatima Parish School, Tracy Severson

Theses, Dissertations and Capstones

The Alliance Formation Puzzle And Capacity Constraints, Kai A. Konrad, Dan Kovenock

Economics Faculty Articles and Research

Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Østrup, Lars Oxelheim, Clas Wihlborg

Business Faculty Articles and Research

Indiana State University Financial Report 2009, Indiana State University

Financial Reports

Winning, Running, And Renewing The Outsourcing Contracts, Z Perunovic, M Christoffersen, Robert Mefford

Finance

Market Volatility Asymmetries: The Effects Of Stock Market Returns On Realized And Implied Volatilities, Matthew M. Chestnut

Inquiry: The University of Arkansas Undergraduate Research Journal

An Analysis Of The Intra-Regional Trade In The Middle East And North Africa Region, E. M. Ekanayake, John R. Ledgerwood

Publications

The Rise Of Private Equity Media Ownership In The United States: A Public Interest Perspective, Matthew Crain

Publications and Research

"G" And "H" Control Charts And Risk Analysis In The Banking Industry, James L. Bossert

All-Inclusive List of Electronic Theses and Dissertations

Earnings Asymmetric Timeliness And Shareholder Distributions, Richard M. Frankel, Yan Sun, Rong Wang

Research Collection Lee Kong Chian School Of Business

Feasibility Of Jp-8 To Jet A Fuel Conversion At U. S. Military Facilities, Lance A. Vann

Theses and Dissertations

Indiana State University Financial Report 2008, Indiana State University

Financial Reports

Portfolio Construction: The Efficient Diversification Of Marketing Investments, Michael P. Haydock

Walden Dissertations and Doctoral Studies

Offshore Financial Havens: Their Role In International Capital Flows, Zhixiang Sun

Dissertations and Theses Collection (Open Access)

Rolling Adf Tests: Detecting Rational Bubbles In Greater China Stock Markets, Peng Huang

Dissertations and Theses Collection (Open Access)

Stock Markets And Income Inequality: A Cross-Country Study, Elizabeth Mathew

Dissertations and Theses Collection (Open Access)