See No Evil? Revisiting Early Visions Of The Social Responsibility Of Business: Adolf A. Berle’S Contribution To Contemporary Conversations,
2010
Seattle University School of Law
See No Evil? Revisiting Early Visions Of The Social Responsibility Of Business: Adolf A. Berle’S Contribution To Contemporary Conversations, Erika George
Seattle University Law Review
Much corporate legal scholarship considers such fact patterns as beyond the scope of the discipline’s core concerns. Yet, increasingly, questions are asked concerning the scale and scope of modern corporate power. This Article will challenge the conventional understanding of what the core discipline of corporate law should encompass and argues that the failure to focus on precisely these sorts of factual scenarios involving allegations of corporate complicity in human rights violations and environmental degradation is misguided and short-sighted.
Neo-Brandeisianism And The New Deal: Adolf A. Berle, Jr., William O. Douglas, And The Problem Of Corporate Finance In The 1930s,
2010
Seattle University School of Law
Neo-Brandeisianism And The New Deal: Adolf A. Berle, Jr., William O. Douglas, And The Problem Of Corporate Finance In The 1930s, Jessica Wang
Seattle University Law Review
This essay revisits Adolf A. Berle, Jr. and The Modern Corporation and Private Property by focusing on the triangle of Berle, Louis D. Brandeis, and William O. Douglas in order to examine some of the underlying assumptions about law, economics, and the nature of modern society behind securities regulation and corporate finance in the 1930s. I explore Douglas and Berle’s academic and political relationship, the conceptual underpinnings of Brandeis, Berle, and Douglas’s critiques of modern finance, and the ways in which the two younger men—Berle and Douglas—ultimately departed from their role model, Brandeis.
Firm And Industry Characteristics Of Exchange Rate Exposure And Optimal Hedging Strategy: Evidence On China,
2010
Singapore Management University
Firm And Industry Characteristics Of Exchange Rate Exposure And Optimal Hedging Strategy: Evidence On China, Fen Yan
Dissertations and Theses Collection (Open Access)
Understanding the effect of foreign exchange rate movements on the value of firm is a critical element for the purpose of risk management. In this thesis, firm and industry specific exposures to exchange rate movements in the Chinese market before and after the exchange rate regime reform in 2005 are examined. We observe that at the one-week return horizon, among all the firms listed in the China Exchange Market before the year 2001, less than 10% of the firms exhibit significant "residual exposure" to bilateral exchange rate movements against China’s major trading partners before the reform. In contrast, the proportion …
The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China,
2010
Singapore Management University
The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China, Yu Zeng
Dissertations and Theses Collection (Open Access)
In this paper we examine how stock returns in China respond to monetary policy announcements made by PBC in a short term around announcement day. We employ a nonparametric event-study method to investigate such reactions. We arrive at the following conclusions. Firstly, there is information leakage of monetary policy changes, which is verified by significant changes in stock returns before monetary policy announcement and quitness of stock market after announcement. Secondly, financially constrained and financially unconstrained firms respond quite similarly to monetary policy shocks, which disobeys credit channel of monetary policy transmission in the short run. Thirdly, reserve ratio changes …
Bayesian Analysis Of Country Risk Premia In Developing Small Open Economies,
2010
Singapore Management University
Bayesian Analysis Of Country Risk Premia In Developing Small Open Economies, Seigmund Vincent Roque Conti
Dissertations and Theses Collection (Open Access)
This thesis studies a model presented by Neumeyer & Perri (2005), which aims to explain the strong countercyclicality of interest rates and net exports in emerging market economies. The model accomplishes this by decomposing interest rates into an international rate and a country risk component, and by making labor demand sensitive to movements in these rates via a working capital constraint imposed on the representative firm. Moreover, it proposes two approaches to determining the stochastic processes for these interest rates: the independent country risk case and the induced country risk case. The induced country risk model calibrated to Argentine data …
Financial Analysis With Microsoft Excel,
2010
University of South Florida
Financial Analysis With Microsoft Excel, Timothy R. Mayes, Todd M. Shank
USF St. Petersburg Campus Faculty Publications
No abstract provided.
Microfinance And Women’S Empowerment In Honduras,
2010
Connecticut College
Microfinance And Women’S Empowerment In Honduras, Katherine Sugg
Sociology Honors Papers
This thesis examines the possibilities for women’s empowerment through microfinance. It utilizes the results of a survey conducted in 2009 with clients of the microfinance organization FINCA Honduras. The analysis of these survey results yields important conclusions on FINCA Honduras’ ability to empower Honduran women economically, psychologically, and socio-culturally. The original hypothesis of this study stated that FINCA Honduras’ financial services would help the female client to improve her standard of living, her psychological well-being, and her gender relationships in the home. FINCA Honduras has partially succeeded in empowering its female clients in these ways, but currently lacks the specific …
How Are Inflation Expectations Formed By Consumers, Economists And The Financial Market?,
2010
Claremont McKenna College
How Are Inflation Expectations Formed By Consumers, Economists And The Financial Market?, Shaun Khubchandani
CMC Senior Theses
Inflation expectations have been of great interest to economists because they predict how agents in an economy set prices and react to changes in various macroeconomic variables. The existence of Keynesian liquidity traps in Japan and the United States have helped emphasize the importance of inflation expectations, especially when monetary policy is rendered ineffective and there is almost perfect substitutability between money and bonds due to the zero bound condition of interest rates. Given the canonical theories of rational and adaptive expectations, this paper will use a simple model of the economy to measure the effect of various macroeconomic variables …
The Real Exchange Rate Volatility And U.S. Exports: An Empirical Investigation,
2010
Bethune-Cookman University
The Real Exchange Rate Volatility And U.S. Exports: An Empirical Investigation, E. M. Ekanayake, John R. Ledgerwood, Sabrina D'Souza
Publications
This paper investigates effects of exchange rate volatility on U.S. exports, using disaggregated sectoral data on U.S. exports to its major trading partners. In this paper, we use a generalized ARCH-type model (GARCH) to generate a measure of exchange rate volatility which is then tested in a model of U.S. exports. The analysis uses monthly trade data for the period from January 1990 through December 2007. Testing sectoral trade data allows us to detect whether the direction or magnitude of the impact of volatility differs depending on the types of goods that are traded. The results obtained in this paper …
Monitoring To Reduce Agency Costs: Examining The Behavior Of Independent And Non-Independent Boards,
2010
Seattle University School of Law
Monitoring To Reduce Agency Costs: Examining The Behavior Of Independent And Non-Independent Boards, Anita Anand, Frank Milne, Lynnette Purda
Seattle University Law Review
Berle and Means’s analysis of the corporation—in particular, their view that those in control are not the owners of the corporation—raises questions about actions that corporations take to counter concerns regarding management’s influence. What mechanisms, if any, do corporations implement to balance the distribution of power in the corporation? To address this question, we analyze boards of directors’ propensity to voluntarily adopt recommended corporate governance practices. Because board independence is one way to enhance shareholders’ ability to monitor management, we probe whether firms with independent boards of directors (which we define as boards with either an independent chair or a …
Rethinking The Separation Of Ownership From Management In American History,
2010
Seattle University School of Law
Rethinking The Separation Of Ownership From Management In American History, Kenneth Lipartito, Yumiko Morii
Seattle University Law Review
In <em>The Modern Corporation and Private Property</em>, Adolf Berle and Gardiner Means would use AT&T as a prime example of what they saw as a dangerous new trend, the replacement of ownership-based capitalism with giant corporations controlled by a small group of propertyless managers. Indeed, AT&T became Berle and Means’ favorite example. . . . As we shall see, however, the claim that AT&T was a leading example of the separation of ownership from management is incomplete. More importantly, the common interpretation of Berle and Means’ work is mistaken, placing the emphasis incorrectly on the number of shareholders and reading …
An Experimental Analysis Of The Demand For Payday Loans,
2010
Chapman University
An Experimental Analysis Of The Demand For Payday Loans, Bart J. Wilson, David W. Findlay, James W. Meehan Jr., Charissa P. Wellford, Karl Schurter
Economics Faculty Articles and Research
The payday loan industry is one of the fastest growing segments of the consumer financial services market in the United States. We design an environment similar to the one that payday loan customers face and then conduct a laboratory experiment to examine what effect, if any, the existence of payday loans has on individuals' abilities to manage and to survive financial setbacks. Our primary objective is to examine whether access to payday loans improves or worsens the likelihood of financial survival in our experiment. We also test the degree to which people's use of payday loans affects their ability to …
Securities Intermediaries And The Separation Of Ownership From Control,
2010
Seattle University School of Law
Securities Intermediaries And The Separation Of Ownership From Control, Jill E. Fisch
Seattle University Law Review
The Modern Corporation & Private Property is a paradigm-shifting analysis of the modern corporation. The book is perhaps best known for the insights of Berle and Means about the separation of ownership from control and the consequences of that separation for the allocation of power within the corporation. The Berle and Means story focuses on the shareholder as the owner of the corporation. Berle and Means saw the mechanism of centralized management—in which the shareholder retains the economic interest but not the control rights associated with ownership—as threatening the conception of shareholder interests in terms of property rights. In particular, …
The Modern Corporation As Social Construction,
2010
Seattle University School of Law
The Modern Corporation As Social Construction, Mark S. Mizruchi, Daniel Hirschman
Seattle University Law Review
Classic works, Mark Mizruchi and Lisa Fein argued, share a particular fate. Authors often cite classic works without reading them—or without reading them carefully. . . . Yet perhaps no single work fits the above description better than one of the most important books on the large corporation ever published: Adolf Berle and Gardiner Means’s The Modern Corporation and Private Property. One can speculate that few works in the social sciences have been as often cited and as little read. As a consequence, we would expect The Modern Corporation to be a good candidate for either selective interpretation or …
Foreign Portfolio Investment Inflows To The United States: The Impact Of Investor Risk Aversion And U.S. Stock Market Performance,
2010
The University of Texas Rio Grande Valley
Foreign Portfolio Investment Inflows To The United States: The Impact Of Investor Risk Aversion And U.S. Stock Market Performance, Peter V. Egly, David W. Johnk, Daniel Perez Liston
Economics and Finance Faculty Publications
This paper examines the relationship of net foreign portfolio investment inflows, namely corporate bonds and stocks, to two pull factors; investor risk aversion and the US stock market. Using a vector autoregressive model, we find that positive shocks to the stock market elicit an insignificant response to the net corporate bond inflow and a significant short term positive response to the net corporate stock inflow. The net corporate stock inflow does not respond to risk aversion, while bond inflows do exhibit a significant midterm response to an increase in risk aversion. Consistent with previous empirical findings, the results show that …
Hyperbolic Systems Modeling Currency Hoarding,
2010
The University of Texas Rio Grande Valley
Hyperbolic Systems Modeling Currency Hoarding, Elena Quercioli, Jeffrey Rauch
Economics and Finance Faculty Publications
We introduce and analyse linear systems of hyperbolic partial differential equations that model the replacement and hoarding of currency. The goal is to deduce the hoarding behavior from observations of circulating bills. The large time asymptotics of the models is identified in all cases. The mathematical analysis is novel, partly because of nonstandard boundary conditions. To identify parameters we suggest the measurement of the age histogram of notes, the rate of growth, and the retard in wear of notes due to hoarding. In our models that suffices to identify all but one quantity.
Al-Athar Al-Waridah Fi Al-Buyu' Al-Ribawiyah Fi Musannaf 'Abd Al-Razzaq : Takhrij Wa-Ta'liq.,
2010
University Malaya
Al-Athar Al-Waridah Fi Al-Buyu' Al-Ribawiyah Fi Musannaf 'Abd Al-Razzaq : Takhrij Wa-Ta'liq., Bahaeeddine Mohamed Nidious
Student Works (2010-2019)
This is the summary of the thesis submitted to the depa11tnent of al-Quran and alHadith in Academy Islam in University of Malaya for the Master Degree of Usuluddin. The researcher divided his research into 4 chapters stating in the first one the research problem, objectives, methodology, structure and previous studies, the researcher talked in the second chapter about Abd al-Razzaq and his book AlMussanaf, then the researcher defined in the third chapter al-Bay', al-Riha and their rules in Islam. Whereas the researcher examined in the fourth chapter the authenticity of al-Buyu' al-Ribawiyyah in the Book of Mussanaf Abd al-Razzaq, which …
Pricing Bond Yields In The European Bond Market,
2010
Claremont McKenna College
Pricing Bond Yields In The European Bond Market, David Cook
CMC Senior Theses
This paper analyzes macroeconomic factors and their effect on 2-year government bonds of 11 countries in the European Monetary Union. I specifically looked at how a simultaneous budget and trade surplus effect a country's bond yield spread relative to Germany's bond yield. My model showed that double surplus countries have a larger yield spread than countries that do not have a double surplus.
Conflict Of Interest?: Executive-Auditor Relationship And The Likelihood Of A Sec-Prompted Restatement,
2010
Claremont McKenna College
Conflict Of Interest?: Executive-Auditor Relationship And The Likelihood Of A Sec-Prompted Restatement, Henry Lyford
CMC Senior Theses
This study examines the relationship between executives and their independent auditor to see if there is a conflict of interest in their interaction. This study was motivated by the meltdowns, partially caused by fraudulent accounting, of many public companies in the late 1990s and early 2000s and the consequent passage of the Sarbanes-Oxley Act. This study examines the variables of audit fees, fees for other services, and auditor tenure to see if they are connected with the occurrence of an SEC-prompted restatement. The results show no significant correlation between amount of fees and the likelihood of an SEC-prompted restatement but …
China And Brazil: Potential Allies Or Just Brics In The Wall?,
2010
Montclair State University
China And Brazil: Potential Allies Or Just Brics In The Wall?, Anthony Petros Spanakos
Department of Political Science and Law Faculty Scholarship and Creative Works
Brazil is an increasingly important actor in global governance and for China specifically. Sino-Brazilian relations have deepened considerably but they remain concentrated in areas of trade and investment. There is also considerable overlap in interests between the two countries in other areas, such as diplomatic and political relations. At the same time, China must manage carefully important differences that exist over the enlargement of the UN and the potential challenge to the Brazilian industry.
