Finance Commons^™

Understanding The Racial/Ethnic Gap In Bank Account Ownership Among Older Adults, Luisa Blanco, Marco Angrisani, Emma Aguila, Mei Leng

School of Public Policy Working Papers

The observed racial/ethnic gap in bank account ownership among older adults is substantial. We investigate socio-economic, cognitive and cultural barriers underling it. As additional potential barriers are accounted for, the residual gaps in financial inclusion with respect to Whites is reduced by 19 percent for Blacks and 46 percent for Hispanics. We find that citizenship and “taste for privacy” play a limited role for both minority groups, while real asset ownership, health, cognitive ability and cultural hurdles contribute substantially to the gap. For Hispanics, language barriers explain most of the gap, while neighborhood-level socioeconomic characteristics are more salient for Blacks. …

Retirement Planning In The Age Of Disruption, Singapore Management University

Perspectives@SMU

Do not underestimate retirement needs, plan early, and update your skills consistently to build up your nest-egg

Shorter business cycles, disruptive technology, and demographic changes have rendered single-employer careers a near impossibility. The need to learn, unlearn, and relearn to forge new career paths is now an accepted inevitability.

The Relationship Between Financial Literacy, Financial Status, And Academic Success In College Students, Brian Douglas Brausch

Dissertations

As the cost of college continues to rise, an increasing number of students are relying on loans and credit cards to fund their postsecondary education. In an effort to curb student debt and increase retention and graduation rates, many universities have begun to offer financial literacy initiatives to stimulate financial knowledge and promote positive money management behaviors.

This study examines the relationship between a for-credit personal financial literacy course and student academic success and economic status. Students who took a personal finance course during their first or second year of college are compared to a random sampling of students who …

The Impact Of Real Interest Rate On Real Exchange Rate: Empirical Evidence From Japan, Tomiwa Shodipe

2018 Awards for Excellence in Student Research and Creative Activity – Documents

Abstract

This paper examines the impact of real interest rate on the real exchange rate in Japan using Two Stage Least Square econometric techniques. The two instruments used are money supply and gross domestic product growth rates. The result provides support for the theoretical and empirical evidences of positive relationship between real interest rate and real exchange rate in Japan. The estimation also shows that there is positive relation between trade and Japanese Yen over the period considered in the study. In light of these findings, the study suggests the adoption of fiscal macroeconomic policy instruments that are capable of …

Can Risk Models Extract Inflation Expectations From Financial Market Data? Evidence From The Inflation Protected Securities Of Six Countries, Arben Kita, Daniel L. Tortorice

Economics Department Working Papers

We consider an arbitrage strategy which exactly replicates the cash of a sovereign inflation-indexed bond using inflation swaps and nominal sovereign bonds. The strategy reveals a violation of the law of one price in the G7 countries which is largest for the eurozone. Testing the strategy's exposure to deflation, volatility, liquidity, economic and policy risks suggests that the observed pricing differential is an economic tail risk premium which is more pronounced in the eurozone. We conclude that inflation expectations implied by models that view this pricing differential as compensation for risk are likely to be accurate and useful for policy-making.

Explaining Excess Stock Return Through Options Market Sentiment, Michael Gough

Honors Projects in Finance

Option markets are a fascinating area of study and in recent years research has indicated that information obtained from the options market can be used to explain price returns in the underlying stock market. Building on existing asset pricing models such as the Fama-French Three Factor, Carhart Four Factor, and Fama-French Five Factor Models, this research tests if the put to call ratio can be used as an additional factor in explaining excess returns. Ordinary least squares models are run on all Dow Jones 30 stocks using more than ten years of data and the model results are compared. The …

Airbnb's Effect On The Hospitality Industry, Eric A. Douglas

Student Publications

I examined the effect that Airbnb’s entrance into and disruption of the hospitality market in 2011 had on hotel room rates across the world by 2017. Hotel room rates were taken from published data tables rather than my own analysis because of an unavailability of raw hotel pricing data. Price comparisons between current Airbnb and hotel room rates were researched to see if one method of accommodation would be better than the other. Twenty-seven cities’ hotel rate averages and Airbnb entire-home prices were averaged and compared. There was a significant difference in hotel room rates between 2011 and 2017, during …

Looming Consumer Debt: A Comparison To The Great Recession, Andrew Jenks

Honors Projects

A look into the current outstanding debt in the United States and comparison to conditions prior to the financial crisis of 2007-2008.

Lending Club’S Note Trading Platform Facade: An Examination Of Peer-To-Peer (P2p) Lending Secondary Market Inefficiency, Stephen Harvey

Honors Theses

The original objective of the study was to monitor and analyze the inefficiencies in Lending Club’s Peer-toPeer (P2P) secondary market, in order to exploit these inefficiencies for a risk-free return. Upon a threemonth examination and analysis of the secondary market, the findings indicate that arbitrage conditions do not exist as a result of the observed volume of the marketplace being vastly lower than initially believed. Only 0.44% of note listing instances on Lending Club’s secondary market over the three-month period resulted in successful trades. As a consequence, investors assume a purported level of liquidity that is never met, thus they …

Quantitative Easing Auctions Of Treasury Bonds, Zhaogang Song, Haoxiang Zhu

Research Collection Lee Kong Chian School Of Business

The Federal Reserve uses (reverse) auctions to implement its purchases of Treasury bonds in quantitative easing (QE). To evaluate dealers’ offers across multiple bonds, the Fed relies on its internal yield curve model, fitted to secondary market bond prices. From November 2010 to September 2011, a one standard deviation increase in the cheapness of a Treasury bond (how much the market price of the bond is below a model-implied value) increases the Fed’s purchase quantity of that bond by 276 million and increases the auction costs on that bond by 2.6 cents per $100 par value, controlling for standard covariates. …

Investment And The Long Swings Of Unemployment, Hian Teck Hoon, Katsimi Margarita, Gylfi Zoega

Research Collection School Of Economics

We estimate the relationship between investment and unemployment over the time period 1960-2015 in 20 OECD countries. While neoclassical growth theory typically assumes full employment – with no effect of investment on unemployment – we find that over our sample period covering more than five decades, a statistically significant negative relationship does exist: when investment fell, unemployment increased. When the time period is broken down into two sub-periods to take account of the Great Recession, we find that the estimated coefficient of investment is slightly smaller when the period 2001-2015 is added to the 1960-2000 period. We also find a …

Mexico Consensus Economic Forecast, Volume 21, Number 2, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

The Path To Mainstream Finance: Exploring Complementary Currencies And Interest-Free Lending, Ema Di Fruscia

Independent Study Project (ISP) Collection

This paper explores elements of alternative finance including complementary currencies, credit clearing systems, and Islamic Banking practices. I begin first by outlining the issues created by the mainstream western banking model, including wealth inequality, socioeconomic discrimination, environmental degradation, and the collapse of small businesses and local economies. I go on to introduce and define the concepts of complementary currencies, Local Exchange Trading Systems, and credit clearing systems; I argue that these systems challenge the popularly held perceptions that currencies and mainstream banking practices in general are immutable, given, or ideal. To support this assertion, I transition into my research findings …

Inflation Expectations In Singapore: A Behavioural Approach, Alexander Clark, Aurobindo Ghosh, Samuel Hanes

Research Collection Lee Kong Chian School Of Business

The expectations of economic agents have significant impact on their decisions and are key determinants of macroeconomic outcomes such as inflation, economic growth and unemployment. For example, if a worker believes that consumer prices will rise sharply next year, she would demand a wage increase. Similarly, a homeowner with a fixed interest mortgage might make an early repayment if she expects price levels to fall, knowing that the real value of her mortgage debt will increase. In these cases, expectations about inflation could lead to changes in behaviour and in the aggregate, influence prices and become self-fulfilling.

Estimation Of Cost Efficiency Without Cost Data, Levent Kutlu, Ran Wang

Economics and Finance Faculty Publications

One of the advantages of conduct parameter games is that they enable estimation of market power without total cost data. In line with this, we develop a conduct parameter based model to estimate the firm specific “marginal cost efficiency” and conduct without using total cost data. The marginal cost efficiency is an alternative measure of efficiency that is based on deadweight loss. We illustrate our methodology by estimating firm-route-quarter specific conducts and marginal cost efficiencies of U.S. airlines for Chicago based routes without using route-level total cost data.

دور مراقب الحسابات في تقويم اداء المصارف الخاصة وبيان مدى تعرضها للتعثر المالي من خلال تطبيق نظام Sherrod دراسة تطبيقية في عينه من المصارف الأهلية العراقية, عقيل دخيل كريم

Muthanna Journal of Administrative and Economics Sciences

تتعلم الأمم من تجاربها ومن تجارب الآخرين ومن أي عثرات تواجهها فمن هذه التجارب ينكون لديها خبرات للمستقبل ويعد تجاوز تلك العثرات منطلقاً للتقدم للأمام بكل قوة. لذا يقع على عاتق مراقبي الحسابات مسؤولية الافصاح عن مدى قدرة الوحدة الاقتصادية عن الاستمرار بمزاولة نشاطها ، والتنبؤ باحتمالات الفشل المالي للوحدة والابلاغ عن الشكوك في عدم قدرة تلك الوحدات تحت التدقيق على الاستمرار في نشاطها ، وهذا ما ركزت عليه معايير التدقيق المهنية ولهذا جاء هذا البحث متناولاً مشكلة القصور الواضح لدى مراقبي الحسابات وادارات الوحدات الاقتصادية في التزام بمسؤولياتهم اتجاه بيان قدرة الوحدة على الاستمرار وكذلك تحديد مسؤوليات مراقبي الحسابات …

التمكين النفسي وتأثيره على السلوك الابداعي دراسة تطبيقية في مديرية بيئة القادسية, خيريه عبد فضل الخالدي

Muthanna Journal of Administrative and Economics Sciences

تناول هذا البحث التمكين النفسي وتأثيره على السلوك الابداعي لعينة من العاملين في مديرية بيئة القادسية . اذ يضم متغير التمكين النفسي اربعه ابعاد متمثلة بـ (المعنى , المقدرة, الاستقلالية, التأثير) ,اما متغير السلوك الابداعي فتمثل أبعاده ( توليد الافكار , ترويج الافكار , تنفيذ الافكار) , وقد اعتمد هذا البحث على المنهج التحليلي للبيانات التي جمعت من آراء عينة مكونه من (124) موظف في مديرية بيئة القادسية واختبرت فرضيات البحث باستخدام معامل الارتباط البسيط و تحليل الانحدار المتعدد وعدد من الادوات الاحصائية الاخرى الملائمة لتحقيق اهداف البحث الحالي باستخدام برنامج SPSS.v.24)). وقد أثبتت النتائج التطبيقية للبحث صحة الفرضيات التي …

تفعيل عملية تدقيق ورقابة الاداء على مؤسسات البلديات لتحقيق التنمية المستدامة بحث تطبيقي في مديرية بلديات محافظة المثنى, وعد هادي عبد الحساني

Muthanna Journal of Administrative and Economics Sciences

يهدف البحث الى معرفة ماهية التنمية المستدامة وعملية تدقيق ورقابة الاداء على المؤسسات العامة ومعايير التدقيق والرقابة التي تناولت الموضوع ، كما يهدف الى تطبيق عملية تدقيق ورقابة الاداء على عينة البحث لتحقيق التنمية المستدامة من خلال قياس اثر انشطة مؤسسات البلديات على ابعاد واهداف التنمية المستدامة ، ولقد توصل البحث الى اهم الاستنتاجات وهي عدم قيام المدقق الداخلي والمدقق الخارجي لمؤسسات البلديات في تفعيل عملية تدقيق ورقابة الاداء على انشطة البلديات لتحقيق التنمية المستدامة ، وضعف مؤسسات البلديات في اعداد وتنفيذ خطة لتحصيل ايراداتها السنوية اثر سلبا على نصيب الفرد من ( سكان الحضر ) الذي يمكن ان يحصل …

أثر عناصر المزيج الترويجي للخدمة التأمينية في تحقيق رضا الزبون دراسة تحليلية لآراء عينه من زبائن شركة التامين الوطنية / فرع الديوانية, لقاء ميري حبيب ميري حبيب

Muthanna Journal of Administrative and Economics Sciences

لقد تناول البحث الحالي احد العناصر الاساسية والحيوية في العمل التسويقي لشركات التأمين من خلال استعراض احد الانشطة المهمة والمؤثرة في تحقيق اهدافها التسويقية والمتمثل بالمزيج الترويجي الذي يشمل على اربعه عناصر هي (العلاقات العامة ،البيع الشخصي ، تنشيط المبيعات ،الاعلان ) يهدف البحث الى دراسة واقع المزيج الترويجي في شركات التأمين واعتمد البحث جمع البيانات من عينه زبائن شركة التامين الوطنية / فرع الديوانية ولتحقيق هدف البحث قامت الباحثة بتوزيع استبانه أعدت لهذا الغرض على مجتمع البحث المكون من الزبون وفي ضوء ذلك جرى تحليل البيانات واختبار الفرضيات باستخدام الاساليب الاحصائية الملائمة (الاوساط الحسابية والانحرافات المعيارية والارتباط (بيرسون والانحدار) …

تحليل السيولة ، الربحية ، الرفع المالي في ضوء ادارة المخاطر المصرفية المصرف التجاري العراقي حالة دراسية 2005 – 2015, غسان طارق ظاهر

Muthanna Journal of Administrative and Economics Sciences

تعد موضوعة السيولة والربحية والرفع المالي في ظل ادارة المخاطر المصرفية من الموضوعات التي تحظى باهتمام الاقتصاديين، من خلال البحث في طبيعة العلاقة بين تلك المتغيرات لتحقيق التوازن والموائمة في ادارة السيولة لجانبي الموجودات والمطلوبات للبنوك، فضلا عن تحقيق عنصر الأمان، وبالتالي تشكل تلك المتغيرات الأقطاب الثلاثة، والتي لا يمكن لأي بنك الاستغناء عنها، وتتلخص فكرة البحث في تحليل ادارة السيولة لجانبي الموجودات ومكوناتها فضلا عن ادارة جانب المطلوبات والذي تمثل بإجمالي القروض قصيرة الاجل، فضلا عن تحليل اثر الرفع المالي في ربحية البنك التجاري العراقي، للمدة 2005-2015، من خلال بناء نماذج قياسية للمدة موضوعة البحث، وخلصت الدراسة الى تطابق …