Finance Commons^™

A Cross-Sectional Analysis Of The Determinants Of Corporate Share Repurchases, Kenneth M. Washer

Doctoral Dissertations

The objective of this study is to determine which motives play a significant role in determining the extent of a firm's repurchasing activity. For firms repurchasing through the open market, the motives include taking advantage of perceived undervaluation, increasing financial leverage, distributing cash to shareholders, and reducing agency costs. For firms using a tender offer, the motives include taking advantage of perceived undervaluation and having the ability to significantly increase financial leverage. Also, the hypothesis that the perceived undervaluation motive is stronger for smaller firms is tested. Three censored regression models are employed, and each model's explanatory variables represent commonly …

An Examination Of The Relationship Between Stock Index Cash And Futures Markets: A Cointegration Approach, Michael A. Pizzi, Andrew J. Economopoulos, Heather M. O'Neill

Business and Economics Faculty Publications

The existence of price discovery, market efficiency and market stability associated with spot and futures markets continues as a prominent discussion among academics, practitioners and regulators. Numerous papers examine the role of price discovery in the futures markets for various types of commodities and financial assets. Generally, the studies by Garbade and Silber (1983), Herbst, McCormack and West (1987), Kawaller, Koch and Koch (1987) and Schroeder and Goodwin (1991) indicate that price discovery occurs more significantly in the futures market compared to the cash market.

The Fischer Black Hypothesis: Some Time-Series Evidence, Tony Caporale, Barbara Mckiernan

Economics and Finance Faculty Publications

We estimate an ARCH-M model to analyze the relationship between the conditional standard deviation of real gross national product (GNP) and its growth rate for the period 1871-1993. We find that variability significantly increases output growth rates. In addition, impulse response functions show that the effect of variability on growth rates is dynamic. These results provide evidence in favor of Black's (1987) business cycle hypothesis.

Indiana State University Financial Report 1998, Indiana State University

Financial Reports

No abstract provided.

Breaking Trends And The Money-Output Correlation, David Fernandez

Research Collection Lee Kong Chian School Of Business

This paper examines the impact on the money-output correlation of a univariate specification that allows time series to be characterized as stationary around a broken trend function. Though pretesting suggests that U.S. real output (industrial production) can be described as broken-trend stationary, this result has only limited impact on the money-output correlation. Before 1985 there is a strong Granger causal relationship between money and broken-detrended output (hut not first-differenced output), even when different short-term interest rates are used as regressors. However, after 1985 this relationship weakens significantly, whether or not one determines that output has a unit root.

The Impact Of The Louisiana Lottery On Salaries In Education, Melissa Vicknair Melancon

Doctoral Dissertations

The study was undertaken to decide whether lottery revenues impacted teachers' salaries in Louisiana. Economic recession brought on by the collapse of the oil and gas industry, disgruntled taxpayers, and the lure of easy money prompted Louisiana legislators to pass a bill adopting a state lottery. Initially, all funds were earmarked for education. Subsequently, lottery revenues were deposited into the general fund. Yet many thought the lottery would be a significant source of money for education and teachers' salaries.

Logged annual salaries were used in models for university teachers and for elementary and secondary school teachers. Variables were incorporated to …

The Incremental Information Content Of The Cash And Cash Equivalents Definition Of Funds, Hugh Samuel Riner Jr.

Doctoral Dissertations

The purpose of this study was to attempt to determine the incremental information content of the cash and cash equivalents definition of funds. The cash and cash equivalents definition of funds is the mandated definition of funds for use in the preparation of a statement of cash flows. Prior to 1988, firms were able to use alternative definitions of funds; working capital was the most widely-used alternative definition.

In order to determine whether the cash and cash equivalents definition of funds has incremental information content, event analysis methodology was utilized to compare the market reaction to the release of financial …

Tobin, James, Tony Caporale

Economics and Finance Faculty Publications

James Tobin was born in Champaign, Illinois, in 1918. He received his bachelor's degree in 1939 and his master's degree in 1940, both from Harvard. Following naval service during the years 1942-6, he returned to his graduate studies and received his PhD from Harvard in 1947. In 1950, he joined the economics department at Yale University, and he has largely remained at Yale and has been identified with this institution throughout his career. He twice directed the Cowles Foundation for Research in Economics, first from 1955 to 1961, and then from 1964 to 1965. He also served for two years, …

Indiana State University Financial Report 1997, Indiana State University

Financial Reports

No abstract provided.

Gearing Up For Competition New Challenges For Indian Banks, J V Shetty

IIMB Management Review

Influenced by the economic reforms programme, banking in India is witnessing a shift away from meeting social priorities to confronting market forces. This has led to its improved performance during the last two years, generating considerable optimism that the country will eventually be blessed with a sound, streamlined and competitive banking system that would help it successfully meet the challenges of the global marketplace.

Indiana State University Financial Report 1996, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1995, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1994, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1993, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1992, Indiana State University

Financial Reports

No abstract provided.

Financial Management Theory And Practice By Prasanna Chandra , New Delhi: Tata Mcgraw Hill Publication, 1989., Mohindar N Kaur

IIMB Management Review

No abstract provided.

Indiana State University Financial Report 1991, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1990, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1989, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1988, Indiana State University

Financial Reports

No abstract provided.

Investment Planning Model For Optimum Allocation Of Natural Gas: A Programming Approach, V Ranganathan, R Ramanathan

IIMB Management Review

Natural gas has been recognised for a long time as a primary source in most of the developed countries. However, the developing countries like India did not realisethe full potential in this area till reeently. This is all the more appalling since natural gas seems to be India’s predominant hydrocarbon resources. As per the Advisory Board on Energy, in 1976, an Indo-Soviet geological study team had concluded that 75% of India’s ultimate hydro-carbon reserves were in the form of natural gas.

Introduction To Lease Financing By Rajas Parchure & Ashok N Kumar, New York: Time Research Foundation, 1985., Prasanna Chandra

IIMB Management Review

No abstract provided.

Indiana State University Financial Report 1987, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1986, Indiana State University

Financial Reports

No abstract provided.

Indiana State University Financial Report 1985, Indiana State University

Financial Reports

No abstract provided.

Developments In The Financial System During The Third Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This article highlights the developments in the financial system of Nigeria during the third quarter of 1984. It covers the monetary and credit developments, commercial banking and merchant banking developments in the country during the period under review.

Foreign Exchange Flows Through The Central Bank During The Third Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a report of the flow of foreign exchange in and out during the third quarter of 1984. Foreign exchange transactions during the third quarter of 1984 resulted in a net outflow of N114 .0 million in contrast to the net inflows of N289.4 million and N11.9 million recorded during the preceding quarter and the corresponding period of 1983, respectively.

Indiana State University Financial Report 1984, Indiana State University

Financial Reports

No abstract provided.

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1983, Central Bank Of Nigeria

CBN Annual Report

In 1983, Nigeria's economy experienced severe stagflation, with GDP falling by 4.4%, more than the 3.4% decline recorded in 1982. Domestic inflation was 23.2%, more than three times the 7.7% recorded in 1982. The external sector also suffered from the general malaise, with the recorded value of external trade falling from N21.3 billion in 1982 to N17.3 billion in 1983. Agricultural production fell sharply due to severe droughts, bush fires, and diseases/pest infestations in livestock and crops. The volume of primary commercial energy consumed increased, with the index going up by 4.4% in 1983. Inflationary pressures intensified due to the …

Indiana State University Financial Report 1983, Indiana State University

Financial Reports

No abstract provided.