Regulatory Impacts On U.S. Financial Institutions,
2020
University of New Orleans
Regulatory Impacts On U.S. Financial Institutions, Ngeyan Almutairi
LSU New Orleans Theses and Dissertations
In this paper, I examine data from 2000 to 2019 to assess the impact of banks’ regulations on the U.S. financial institutions’ performance. The first essay examines the impact of the Dodd-Frank Act on the U.S. banking industry. The findings show that the Dodd-Frank Act has a negative impact on banks’ profits, efficiency, solvency and cost of intermediation, the effect is stronger for smaller banks. The act shrinks the advantage of banks that are members of bank holding company compared to standalone banks. Capital requirements are associated with higher profitability, efficiency, and cost of intermediation, while assets liquidity ratio has …
Shocks To Aggregate Demand And Aggregate Supply In The Midst Of Covid-19,
2020
CUNY Bernard M Baruch College
Shocks To Aggregate Demand And Aggregate Supply In The Midst Of Covid-19, Anna M. Gellerman
Publications and Research
COVID-19 sent shockwaves throughout the economy, changing the amounts of goods and services distributed and altering the demand. This article discusses the negative demand shock and adverse supply shock that the U.S. economy faced in 2020, and the policies that the government implemented to reverse these effects.
Development Of A New Us Currency For The Post-Pandemic Remote Culture,
2020
University of Tennessee Health Science Center
Development Of A New Us Currency For The Post-Pandemic Remote Culture, F. Matthew Mihelic
Faculty Publications
The contemporary dollar currency was already under significant pressure prior to the emergence of the COVID-19 pandemic, but the economic pressures resulting from the national and world “lockdown” have very significantly exacerbated the vulnerabilities of those Federal Reserve Notes. The ostensible nationalization of the Federal Reserve by the United States federal government in April 2020 is a harbinger of a need to restructure the US currency. Today’s developing remote culture necessitates a new form of electronic currency. Herein is a conceptual blueprint for the development of such a restructured US currency that would function in the post-pandemic remote culture.
Comovement And Instability In Cryptocurrency Markets,
2020
Pomona College
Comovement And Instability In Cryptocurrency Markets, Pierangelo De Pace, Jayant Rao
Pomona Economics
We analyze the extent of comovement between daily price returns of nine major cryptocurrencies during the first three main phases of their development, from April 2013 to November 2018. We assess its evolution using bivariate and multivariate modelling approaches, and detect pronounced time variation. Generally, comovement is initially low and positive, but increases between early 2017 and late 2018. We then adopt a right-tail version of the Augmented Dickey-Fuller unit root test to identify periods of mildly explosive behavior (statistical instability) in the Network Value to Transactions (NVT) ratio (a measure of the dollar value of cryptocurrency transaction activity relative …
Addressing Urban Income Inequality Through Education: A Case Study In Atlanta,
2020
University of Arkansas, Fayetteville
Addressing Urban Income Inequality Through Education: A Case Study In Atlanta, Garrett Bronn
Finance Undergraduate Honors Theses
For decades, the income inequality gap between the rich and poor has continued to expand dramatically, with criticism of existing education systems often at the heart of the issue. Large urban cities are commonly at the forefront of the issue, given the plethora of teacher strikes in recent years. Events such as the 11-day Chicago teacher’s strike in October of 2019 that idled academics and college prep for 350,000 students, have highlighted many current education issues (Hauck, 2019). With underfunded and poorly equipped middle and high schools, students in poor and minority neighborhoods in cities are less prepared academically, ill …
Analyzing Competitive Balance In Professional Sport,
2020
University of Connecticut - Storrs
Analyzing Competitive Balance In Professional Sport, Kevin Alwell
Honors Scholar Theses
In this paper we review several measures to statistically analyze competitive balance and report which leagues have a wider variance of performance amongst its competitors. Each league seeks to maintain high levels of parity, making matches and overall season more unpredictable and appealing to the general audience. Here we quantify competitive advantage across major sports leagues in numbers using several statistical methods in order for leagues to optimize their revenue.
Three Essays On Financial Economics,
2020
Singapore Management University
Three Essays On Financial Economics, Jiangyuan Li
Dissertations and Theses Collection (Open Access)
Disagreement measures are known to predict cross-sectional stock returns but fail to predict market returns. This paper proposes a partial least squares disagreement index by aggregating information across individual disagreement measures and shows that this index significantly predicts market returns both in- and out-ofsample. Consistent with the theory in Atmaz and Basak (2018), the disagreement index asymmetrically predicts market returns with greater power in high sentiment periods, is positively associated with investor expectations of market returns, predicts market returns through a cash flow channel, and can explain the positive volume-volatility relationship.
Essays On Heterogeneous Large Panel Data Models,
2020
Singapore Management University
Essays On Heterogeneous Large Panel Data Models, Ke Miao
Dissertations and Theses Collection (Open Access)
This dissertation consists of three papers which contribute to the estimation and inference theory of the heterogeneous large panel data models. The first chapter studies a panel threshold model with interactive fixed effects. The least-squares estimators in the shrinking-threshold-effect framework are explored. The inference theory on both slope coefficients and the threshold parameter is derived, and a test for the presence of the threshold effect is proposed. The second chapter considers the least-squares estimation of a panel structure threshold regression (PSTR) model, where parameters may exhibit latent group structures. Under some regularity conditions, the latent group structure can be correctly …
Classification Of Dividend News Based On The Movement Of The Share Market Prices Of Public Listed Companies In Bursa Malaysia,
2020
Universiti Malaya
Classification Of Dividend News Based On The Movement Of The Share Market Prices Of Public Listed Companies In Bursa Malaysia, Vijaya Kumar Shubana
Student Works (2020-2029)
Stock market is naturally complex and plays a major role in towards the nation’s growth. However, the performance of a company in stock market varies due to many influences but not limited to economics, political and financial related news. This study attempts to classify the share market dividend news announcement in Bursa Malaysia based on the pattern of share market price. Samples including five hundred (500) observations of dividend news from forty-seven (47) listed companies in Bursa Malaysia during the period of 2000 to 2018 are used in this study. There are three (3) main objectives in this study which …
Political Connections And Abnormal Stock Returns: An Analysis Of The Trump Nominations,
2020
Utah State University
Political Connections And Abnormal Stock Returns: An Analysis Of The Trump Nominations, Kennon Bacon
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
Shortly after winning the 2016 Presidential Election, Donald Trump began announcing his Cabinet nominations. I examine cumulative abnormal returns (CARs) for firms with political connections to Cabinet and some non-Cabinet level appointments. Nominee and stock characteristics are aggregated, and I find positive and significant CARs surrounding the announcement dates. Additionally, the traits of being a Cabinet nominee, being a board member, and having a narrow confirmation margin all significantly explain the CARs for various event windows and subgroups. The annualized CARs around the announcement date for these firms are often greater than 100% in excess of the market, providing strong …
Lessons Learned: David Wessel,
2020
Yale School of Management
Lessons Learned: David Wessel, Ben Henken, Rosalind Z. Wiggins
Journal of Financial Crises
Wessel, an award-winning journalist for The Wall Street Journal, talks about some of the issues faced by the media in covering the crisis, discusses the many challenges policymakers faced when trying to communicate the government’s crisis-fighting strategy, and shares suggestions for improvement.
Lessons Learned: James (Jim) Millstein,
2020
Yale School of Management
Lessons Learned: James (Jim) Millstein, Alec Buchholtz, Rosalind Z. Wiggins
Journal of Financial Crises
Millstein, who was the Chief Restructuring Officer, U.S. Department of the Treasury, during the Global Financial Crisis and instrumental in the rescue of American International Group, gives us his take on how best to prepare for future crises
Restructuring And Forgiveness In Financial Crises D: The Japanese Financial Crisis Of The 1990s,
2020
Yale School of Management
Restructuring And Forgiveness In Financial Crises D: The Japanese Financial Crisis Of The 1990s, Christian M. Mcnamara, Andrew Metrick
Journal of Financial Crises
In November 1997 the Japanese government confronted a problem of enormous proportions when the turmoil that had been roiling the financial markets since the collapse of a real estate and stock market asset bubble in 1990 reached a crescendo with the failure of four major financial institutions in quick succession in the space of a month. Prior to these failures, the damage done by the collapsing bubble had seemed to be limited to certain segments of the financial landscape, and the government’s response consisted largely of targeted intervention when necessary for clearly insolvent financial institutions, with a more comprehensive approach …
Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94,
2020
Yale School of Management
Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94, Christian M. Mcnamara, Dr. Lars Thunell, Andrew Metrick
Journal of Financial Crises
In the Spring of 1992, the Swedish government faced a dilemma. The country was in the midst of an economic downturn stemming from the collapse of asset prices (especially in real estate) that had spiked as a result of a credit boom that followed the deregulation of the Swedish banking system in the mid-1980s. Initially the impact of the downturn on the country’s banks had seemed to be limited to a small number of specific firms that the government moved to assist on an ad hoc basis in 1991. However, evidence was mounting that the banking crisis was reaching a …
Restructuring And Forgiveness In Financial Crises B: The Asian Crisis Of 1997,
2020
Yale School of Management
Restructuring And Forgiveness In Financial Crises B: The Asian Crisis Of 1997, June Rhee, Andrew Metrick
Journal of Financial Crises
Asia’s economy, Thailand in particular, was booming when the financial crises hit in the 1990s. However, troubles were brewing underneath the seemingly buoyant economy. With a fragile financial system and ineffective domestic government responses to these troubles, an exchange rate crisis took over Thailand, and this crisis started a financial contagion in the neighboring countries. This case reviews the background and domestic government responses to contain the crisis, and the international intervention provided by the International Monetary Fund including the assistance and the required reforms accompanying the support.
Restructuring And Forgiveness In Financial Crises A: The Mexican Peso Crisis Of 1994-95,
2020
Yale School of Management
Restructuring And Forgiveness In Financial Crises A: The Mexican Peso Crisis Of 1994-95, Christian M. Mcnamara, June Rhee, Andrew Metrick
Journal of Financial Crises
Following a year in which repeated political turmoil sapped investor confidence in Mexico, putting pressure on the peso and draining the country’s foreign exchange reserves, on December 22, 1994, the Mexican government sparked a financial crisis by unexpectedly abandoning its policy of anchoring the peso to the US dollar and instead allowing it to float freely. The resulting collapse of the peso left Mexico with $40 billion to $50 billion in external debt (much of it dollar-indexed) coming due in the near term and almost no foreign exchange reserves. Faced with the prospect that Mexico would either default on its …
Guarantees And Capital Infusions In Response To Financial Crises C: U.S. 2009 Stress Test,
2020
Yale School of Management
Guarantees And Capital Infusions In Response To Financial Crises C: U.S. 2009 Stress Test, Chase P. Ross, June Rhee, Andrew Metrick
Journal of Financial Crises
When President Obama took office in 2009, the Treasury focused on restarting bank lending and repairing the ability of the banking system as a whole to perform the role of credit intermediation. In order to do so, the Treasury needed to raise public confidence that banks had sufficient buffers to withstand even a very adverse economic scenario, especially given heightened uncertainty surrounding the outlook of the U.S. economy and potential losses in the banking system. The Supervisory Capital Assessment Program (SCAP)—the so-called “stress tests”—sought to rigorously measure the resilience of the largest bank holding companies. Those found to have insufficient …
Guarantees And Capital Infusions In Response To Financial Crises B: U.S. Guarantees During The Global Financial Crisis,
2020
Yale School of Management
Guarantees And Capital Infusions In Response To Financial Crises B: U.S. Guarantees During The Global Financial Crisis, June Rhee, Andrew Metrick
Journal of Financial Crises
During 2008-09, the federal government extended multiple guarantee programs in an effort to restore the financial market and contain the panic and crisis in the market. For example, the Treasury provided a temporary guarantee program for the money market funds, the FDIC decided to stand behind certain debts and non-interest-bearing transaction accounts, and the Treasury, the FDIC, and the Federal Reserve agreed to share losses in certain assets belonging to Citigroup. This case reviews these guarantee programs implemented during the global financial crisis by the government and explores the different rationale that shaped certain design features of each program.
Trade Financing In Emerging Markets,
2020
University of South Carolina - Columbia
Trade Financing In Emerging Markets, Jamie L. Morris
Senior Theses
Businesses need capital to initiate trades, drive growth, and produce profit, but unfortunately, not all companies can access to capital easily. Small and medium-sized enterprises (SMEs), although critical to the global economy, typically have trouble funding trades because of a lack of creditworthiness. This problem worsens for SMEs in emerging markets in volatile economies with political instability (“Trade finance and SMEs” 2016, p.11-21). In this study, we analyze how third-party trade finance companies can help finance trades more easily for SMEs in eight (8) emerging markets: Kenya, Rwanda, Ethiopia, Chile, Peru, Thailand, Cambodia, and Indonesia. We use a unique source …
Stock Liquidity Of Malaysian Public Listed Firms,
2020
Universiti Malaya
Stock Liquidity Of Malaysian Public Listed Firms, Yee Ee Chia
Student Works (2020-2029)
This thesis is motivated by the limited research on the liquidity of Malaysian public listed firms, the growing number of liquidity horseraces, the recent data commercialization by Bursa Malaysia, and liquidity-enhancing policies being spearheaded mainly by stock exchange regulators in emerging markets. By assembling information that covers 1250 public listed non-financial firms over 2000–2015, the thesis conducts three empirical analyses on the determinants of firm liquidity and the effects of higher liquidity on firm valuation, where liquidity is proxied by the “Closing Percent Quoted Spreads” (CPQS). First, the thesis revisits the standard liquidity model and advocates the inclusion of shareholder …
