Tesi sul tema "Finance, United States, 1923"
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1
Parraguez-Camus, Carla Fernanda. "Evaluating the injuries of neoliberalism in Chile, 1973-2015". Thesis, University of Birmingham, 2017. http://etheses.bham.ac.uk//id/eprint/7928/.
Testo completoAbstract (sommario):
This study of the neoliberal experiment in Chile from 1973 to 2015 uses the social harm approach. It offers an alternative evaluation of the benefits and harms of the experiment, the ways in which Chileans understand its consequences and where the legitimacy of the model unravels. The study refines the conceptualisation and measurement of social harm, marrying the notion of harm with the Marxist theory of contradictions. The research design is multimethod, incorporating analysis of 59 semi-structure interviews with secondary quantitative data. The study captures and describes not only a wide array of harms and injuries in the reconfiguration of social dynamics under neoliberalism, but also investigates how these harms have been justified and challenged over time. The study finds that there are areas in which the model has brought benefits to Chileans, but these benefits are flawed. The study critiques the neoliberal conceptualisation of harms as the 'price worth paying' for social prosperity. It concludes that the 'winners' of the model are very few, while those harmed populate the Chilean social structure from top to bottom. This study argues for a normative scenario to move toward a less harmful society.
2
Brudvig, Jon Larsen. "Bridging the cultural divide: American Indians at Hampton Institute, 1878-1923". W&M ScholarWorks, 1996. https://scholarworks.wm.edu/etd/1593092093.
Testo completo
3
Knoll, Joanna G. "Highway Finance in the United States: An Empirical Model". Thesis, Virginia Tech, 2004. http://hdl.handle.net/10919/9734.
Testo completoAbstract (sommario):
This thesis seeks to construct an empirical model of highway finance in the United States, and in particular, to examine the relationship between highway-user revenues and highway spending. It provides a general overview of the current highway system, including the federal-aid highway program, and the flow of highway funds between different levels of government. It also examines issues relating to highway-user revenues. A review of the literature failed to provide any "standard" model of highway spending and no previous studies of spending across all levels of government. Using data from the 50 states and the District of Columbia over the three-year period 1998-2000, regressions were run on the dollars spent on highways in each state from all levels of government. The independent variables included highway-user revenues (as defined by the Federal Highway Administration) in each state from all levels of government, lane-miles, daily vehicle-miles of traffic, land area, percent of land area classified as urban, population, gross state product, annual average wage, percent of traffic consisting of trucks, and average winter temperature. OLS estimates using the classical linear regression model were found to be unreliable, and attempts at using a growth rate model provided poor overall fit. Opportunities for future research are identified, as this is an important issue that should be of interest in public policy decision-making.Master of Arts
4
Van, de Velden Aster. "Strategic implications of bankruptcy for airlines". Thesis, McGill University, 2003. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=81240.
Testo completoAbstract (sommario):
In the wake of September 11, 2001 events, most western airlines find themselves in financial difficulties. In their struggle to stay in the sky, many airlines look for pro-active tools and fitting strategies. The primary focus of this thesis is to discuss the unique characters of the airline business, particularly, within the context of US bankruptcy reorganization law (Chapter 11). After identifying primary competing interests in this perspective, the hypothesis explored is that Chapter 11 bankruptcy reorganization provides a forum that may uniquely address any of the specific needs of the different key players, if invoked strategically. The corporate strategy of "facilitated survival" as provided for within the context of US bankruptcy law is definitely worthwhile for the airline industry to take note of.
5
Wallace, Thomas Henry. "Capital constraints to the acquisition of new technology by small business in high technology industries". Thesis, Georgia Institute of Technology, 1985. http://hdl.handle.net/1853/30347.
Testo completo
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Davis, Michael Andrew Carey Anthony Gene. "In remembrance Confederate funerary monuments in Alabama and resistance to reconciliation, 1884-1923 /". Auburn, Ala, 2008. http://repo.lib.auburn.edu/EtdRoot/2008/SPRING/History/Thesis/Davis_Michael_44.pdf.
Testo completo
7
Sheridan, Michael Dale. "The Case for Campaign Finance Reform in the United States". Thesis, The University of Arizona, 2015. http://hdl.handle.net/10150/595054.
Testo completoAbstract (sommario):
Campaign finance laws in the United States have changed dramatically over the last thirty years. These changes are largely due to laws passed by Congress and decisions from the Supreme Court. Two major laws that determined the course of the laws were the Federal Election Campaign Act of 1971, and the Bipartisan Campaign Reform Act of 2002. These laws outline how campaigns were required to run. In addition to laws passed by Congress, decisions from the Supreme Court have dramatically changed the scope of electioneering. Buckley v Valeo, decided in 1976, and Citizens United v FEC, decided in 2010, both brought major changes to elections, ranging from disclosure requirements to the creation of SuperPACs. These decisions, paired with the laws passed by Congress set the stage for a campaigning system that many see as in dire need of reform.
8
Khemmarat, Khemrutai. "Community characterisitcs and industrial toxic releases in the United States". Thesis, University of Birmingham, 2010. http://etheses.bham.ac.uk//id/eprint/565/.
Testo completoAbstract (sommario):
This thesis explores the empirical relationship between community characteristics and the amount of chemical releases from local industrial facilities for all 50 states of the US. We concentrate primarily on the effects of ethnic composition and the degree of ethnic diversity within a community. The effect of ethnic composition is captured by the share of each ethnic group within a community. The degree of ethnic diversity is measured by two indices: the fractionalization and polarization index. Our empirical results provide a number of interesting findings. First, there is inconsistent evidence in support of the effect of ethnic composition on chemical releases in 1991-1995 at the zip code level. However, we find that the amount of releases is related with the potential of a community’s collective action to pressurize polluters. Second, we show that local facilities’ environmental performance is not only influenced by the ethnic composition of a community but also by the ethnic diversity of local residents. We argue that ethnic heterogeneity makes it more difficult for members of a community to cooperate and instigate a collective action to protest local polluting facilities. Our estimated results confirm that chemical releases during the period of 1991-1995 increase in a more ethnically diverse communities. Third, our results suggest that differences in toxicity among chemicals should be taken into account when investigating the effect of community characteristics on chemical releases from local facilities. Our findings also confirm the effects of ethnic composition and ethnic diversity in determining chemical releases in 2001-2005 at a county level. However, such findings are subject to regional differences and the choice of chemicals included in the analysis.
9
Pituch, William G. "Participating in the world : select American press coverage of United States internationalism, 1918-1923". Thesis, Manhattan, Kan. : Kansas State University, 2008. http://hdl.handle.net/2097/845.
Testo completo
10
Cain, Cameron J. "Panic Attack: A Comparative Analysis of United States Bank Panics". Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/393.
Testo completoAbstract (sommario):
Through-out the history of the United States, there have been many bank panics starting with the first one in 1819. I use important data from bank panics which happened prior to 1934 to shed light on the most recent Panic of 2007. This data analysis will not only be important to explain the Panic of 2007, but will be essential to help provide insights to what can be done to remedy the situation. Even in 2012, the United States is still feeling the impact of what happened in 2007. Therefore by understanding history and analyzing the past, solutions to prevent future panics can be implemented.
11
Gragen, Michael M. "Department of Defense financial management education and training programs a survey of quality assurance methods /". Thesis, Monterey, Calif. : Naval Postgraduate School, 1992. http://handle.dtic.mil/100.2/ADA256211.
Testo completoAbstract (sommario):
Thesis (M.S. in Management)--Naval Postgraduate School, June 1992.Thesis Advisors: Euske, Kenneth J. ; Jones, L.R. "June 1992." Description based on title screen as viewed on March 4, 2009. Includes bibliographical references (p. 117-118). Also available in print.
12
Pfannestiel, Todd J. "Rethinking the Red Scare: The Lusk Committee and New York State's fight against radicalism, 1919--1923". W&M ScholarWorks, 2001. https://scholarworks.wm.edu/etd/1539623388.
Testo completoAbstract (sommario):
This study re-examines the Great Red Scare that followed the First World War in an effort to more accurately determine its origins, tactics, duration, and conclusion. Specifically, it analyzes the efforts of the Lusk Committee, New York State's joint legislative committee to combat radicalism, between 1919 and 1923.;Prior studies agree that the Red Scare was intense and brief in duration. Physical raids upon Socialist Party, Communist Party, and Industrial Workers of the World offices dominated the episode, culminating with Attorney General A. Mitchell Palmer's infamous national raids in January, 1920. His heavy-handed tactics, which failed to uncover any serious revolutionary threat, awoke many Americans to the ridiculous nature of the hysteria. Tired of years of reform, war, and government witch hunts, the public turned a deaf ear to Palmer's warnings and embarked upon the carefree Jazz Age of the 1920s.;Recent evidence suggests that the Red Scare did not truly end in January, 1920, though. The Lusk Committee in New York State continued to investigate and antagonize radicals until 1923, and in the process introduced new tactics and targets that established precedents for future waves of political repression in America. Following moderately successful raids upon the Soviet Bureau, the Rand School of Social Science, and communist and socialist meeting rooms and publishing facilities, the Lusk Committee adopted new tactics to combat the radical threat, specifically courtroom proceedings and subsequently legislation. The committee also shifted its focus entirely to education, urging and attaining the passage of laws requiring loyalty oaths from public school teachers and state licensing for private schools.;Eventually, as New Yorkers came to understand the threat that such laws posed to fundamental civil liberties such as free speech, the popularity of the Lusk Committee began to fade. When Governor Alfred Smith signed the repeal measures, the Red Scare truly came to a close. However, subsequent episodes of political repression standardized the new tactics and focus introduced by the Lusk Committee, indicating the importance of their endeavors.
13
Zyp, Victoria Lynn. "Islamic finance in the United States product development and regulatory adoption /". Connect to Electronic Thesis (CONTENTdm), 2009. http://worldcat.org/oclc/457045392/viewonline.
Testo completo
14
Jensen, Michael C. "Regulation and Energy Poverty in the United States". DigitalCommons@USU, 2017. https://digitalcommons.usu.edu/etd/6902.
Testo completoAbstract (sommario):
Energy poverty is a topic often neglected in the discussion about global climate change. Apocalyptic prophecies about the negative future effects of climate change ignore the suffering of people around the globe whose lives could be drastically improved with access to reliable sources of energy. Though energy poverty from a global perspective is much more serious than energy poverty from a domestic perspective, high home energy bills are a serious cause for concern for many Americans.
This research examines the relationship between regulation, the prices of electricity and natural gas, and the household energy burden, which is the ratio of household energy expenditures to household income. Where the household energy burden exceeds six percent of household income, households are at the brink of living with a high household energy burden. High household energy burdens can become a generational poverty trap, so understanding what contributes to a high household energy burden may help decision makers determine how to proceed when shaping energy-related and poverty-related policy.
15
Mathieu, Julien P. "Universal banking in the United States : benefits and risks". Thesis, McGill University, 2003. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=80940.
Testo completoAbstract (sommario):
The worldwide financial services industry has undergone in the past two decades an unprecedented wave of consolidation within and across its three main sub-sectors: banking, securities activities and insurance. Today's observers assert that in ten years, most of the financial sector will be controlled by a small group of huge diversified banks. By enacting the Gramm-Leach-Bliley Act in 1999, Congress repealed the depression-era "Glass-Steagall" Act of 1933 and thereby officially removed the longstanding legal barriers that insulated banks from securities firms and insurance companies. As promoters of financial convergence have long been claiming that the introduction of universal banks in the United States would produce numerous benefits for themselves, but also for the economy and for their customers, these predictions can be assessed today in the light of empirical analysis. Now that "financial supermarkets" are totally legal in the United States, it is essential to assess whether they are economically and morally viable.
16
Zhang, Dong. "Interactions between mutual fund flows, asset performances and investor behaviours in United States". Thesis, University of Glasgow, 2018. http://theses.gla.ac.uk/30965/.
Testo completoAbstract (sommario):
Mutual fund is a burgeoning business in not only US but the world. There is a growing tendency that participations of individual investors in financial market are migrated to mutual funds, an indirect channel to invest. Thus, the flows to and out of mutual funds, once a neglected topic, are becoming a new field for financial study. The primary instrument and subject of my PhD is mutual fund flows. Mutual fund flows have special merits for academic research. Firstly, it is purely driven by demands but not supplies, as the supply elasticity of mutual fund is nearly infinite. The characteristic reveals investor behaviours and decisions in a mass scale. Traditional instruments for behaviour studies relies on asset prices and volumes, which are less exogeneous as they are driven by both demand and supply. Secondly, mutual funds specify their objectives and asset classes in prospectus. The characteristics help us understand how investors respond to changing market conditions by changing their exposures on asset classes or styles. Thirdly, a majority of individual investors in mutual funds (as suggested by ICI statistics) provides a natural field for behavioural finance. Fortunately, data is available not only at aggregated level, but also individual and account level, which serve as a great supplement to the existing studies using trading data. The second chapter is based on a simple hypothesis: if flows are (rationally) responding to fund performance, what information does the flow-performance sensitivity convey? How flow, a measure of actual fund investor trading decisions, helps us decompose and finely measure the outcome of these investors? The study is based on several established papers on flow performance relationships in mutual fund market. Warther (1995) is a pioneer paper that discovers a significant correlation between flows and performance. Sirri and Tufano (1998) discovers a convex-shaped flow-performance function and attributes the cause to asymmetrical information. Berk and Green (2004) established a model in which investors trade against good performers and against bad performers but funds themselves suffer from diseconomy of scale. As the fund change in size, it deviates from optimal portfolio size and IV result to better or worse performance. Huang, Wei and Yan (2012) argues that flow performance sensitivity is a rational investor learning process. Based on their arguments, I obtain a simple but effective proxy for investor sophistication: the sensitivity of flows to recent (abnormal) performances. To granularly measure their respective performance, I decompose their performance into three aspects: abnormal returns, fees and timings, a scheme proposed in Fama (1972). The abnormal return is alpha on a four-factor model, which is a traditional before fee, relative measure of whether a fund has beat the market. Fee selection takes into account the average fees that jeopardize the performance and timing cost is measured by “performance gap”, a concept used in Nesbitt (1995); Dichev (2007); Friesen and Sapp (2007); Bullard, Friesen and Sapp (2008). The result is that sophisticated investors earn higher risk adjusted returns and avoid high fees. In addition, investors’ timing performance can be greatly improved by trading less, with the most significant improvements seen on most sophisticated investors. The research question in third chapter is: is there a calendar effect for flow-performance relationship? Does the shape of the function change across the months and what drives the change? The study fills the gap by emphasizing several exogeneous factor of flow-return relationship such as portfolio rebalance and tax-loss selling which interact with calendar dates. Previous literature commonly finds a convex function. Chevalier and Ellison (1997) is first to document the convexity and they argue the convexity may incentivize agency problems. Sirri and Tufano (1998) explained using information search cost and Lynch and Musto (2003) explained with survivalship bias of mutual fund strategies. However, all the study examines only average shape of the flow-performance function. None of them attempt to tackle calendar effect. Calendar effect is potentially a strong determinant of flow performance relationship. Factors such as tax-loss selling (Constantinides (1983)), portfolio rebalance, disposition effect (Kaustia 2011)) and seasonal variation in risk appetite (Kamstra et al. 2017) may interact with dates and change the flow-performance relationship. In this study, I conduct a similar flow-performance regression for each month. The regression is piecewise which separates the sensitivity of mutual fund flows to returns into five parts. I also construct a concise measure of whether a group of funds are bought or sold at any time during the year to disentangle several confounding effects. I find that the shape of the function does change throughout the year and they are affected by tax-loss selling and portfolio rebalance. In fourth chapter, I focus on a special group of funds, the leveraged funds, which mainly caters for day traders. The research question is whether their flows reflect market wide sentiment. Leveraged funds are funds that allows investors to bet on daily performance of stock indexes with leverage and direction. As these funds track only daily index returns and investment horizon longer than one day will result to material deviation from index returns, these funds are unlikely used by mid- or long-term optimizers. As common study suggest too much trading can be harmful (Barber and Odean 2000), I notice that the flows for these funds may be sentiment driven. In this study, I obtain daily flows of nearly 100 largest leveraged funds trading in US and extract the first principal component from these funds. In addition, I follow Baker and Wurgler (2006a) to construct a daily sentiment index (the alternative sentiment measure) from several market variables, which are purposely chosen to be unrelated to fund markets. I find that the first component from leveraged funds is associated with investors’ migration between bull and bear funds and it has strong correlation with our alternative daily sentiment measure. In a later test, the two sentiment measures have similar price impact as a hypothetical sentiment measure would have. I have also examined the limits of arbitrage effect proposed in Shleifer and Vishny (1997). The sentiment component predicts similar cross-section of price revision for up to 7 days into future.
17
Cazares, Lira Victor Manuel. "The intellectual development of Charles A. Beard, 1874-1923". Thesis, University of Edinburgh, 2017. http://hdl.handle.net/1842/25980.
Testo completoAbstract (sommario):
This dissertation traces the development of Charles A. Beard’s social, political, legal and historical thought. It covers his early education in Indiana, his cosmopolitan postgraduate studies at the University of Oxford, Cornell University and Columbia University, and professional work as political scientist and as expert on municipal government. By following thematically and chronologically the relationship between Beard’s historical writings and his early life as teacher of politics and government, this dissertation offers both a reinterpretation of the meaning of Beard’s interpretation of the origins of the U.S. Constitution and a glimpse of the shifting intellectual trends in political thinking that emerged during the Progressive era. Contrary to the idea that Beard was a moral absolutist interested in denouncing the interference of economic interests in government, this thesis argues that Beard developed a pluralistic, functionalistic, and anti-majoritarian conception of politics that was at odds with many Progressive thinkers. Most previous research on Beard has lacked archival research and has ignored Beard’s teachings on politics at Columbia University, thus projecting into Beard’s thought concepts and values he did not adopt. In this study Beard appears as an early advocate of a new pluralistic ethics and utilitarian morality that allowed him to picture the framers of the Constitution as modern pragmatic politicians interested in creating a strong government by the art of integrating the major economic interests of the society in the process of law-making. This dissertation also reveals a broader intellectual world informing Beard’s scholarly work and highlights his readings in modern sociology at DePauw and German sociological jurisprudence as two key factors in understanding Beard’s conception of law and politics. As such, it offers a much more complicated image of Beard’s thought and his intellectual world.
18
Brown, Jason. "Trends in Recent United States Senate Elections: Incumbency, Finance, Gender and Race". Thesis, The University of Arizona, 2012. http://hdl.handle.net/10150/243873.
Testo completoAbstract (sommario):
Though Senate elections are less studied than their House equivalency, there is still significant evidence that explains various trends occurring in the upper chamber of Congress in the past several decades. The Senate, like the House, falls victim to various biases including gender and race. In addition, there is an incumbency advantage in the Senate that proves almost as significant as in House competitions. Despite these similarities, there are noteworthy disparities between House and Senate elections, many of which stem from the differences in term lengths and magnitude of constituencies. However, there are political scientists who believe the electoral outcomes are quite similar, despite these fundamental differences. One of the main contentions is the significance of House and Senate races as a referendum on the president. While it may be more noteworthy in House competitions, it certainly is influential in the Senate. A significant facet of Senate elections studied extensively is the amount of funds needed to win the race. It should be no surprise that a significant majority of winners in the 20 I 0 Senate race far outspent their competitors. There are several elections, however, where this proved false and the candidate with lesser funds defeated his Or her competitor.
19
Arnett, Sarah B. "Fiscal Stress in the U.S. States: An Analysis of Measures and Responses". Digital Archive @ GSU, 2012. http://digitalarchive.gsu.edu/pmap_diss/38.
Testo completoAbstract (sommario):
Fiscal stress is an important and recurring problem that states face. Research to date on state fiscal stress involves, predominantly, cross-sectional and case study analyses and does not address the effectiveness of state responses. Many of these studies use different definitions and measures of fiscal stress compounding the difficulty of comparing fiscal stress findings. The present research effort adds to the fiscal stress literature by (1) clarifying the meaning of fiscal stress in the state context, (2) developing a measure of fiscal stress that operationalizes this meaning and is comparable across units, and 3) using this measure analyzes patterns in and the effectiveness of state responses. Fiscal stress is measured using four indexes: budget, cash, long-run, service-level. Eleven financial indicators, calculated using data from state Comprehensive Annual Financial Reports (CAFRs), are used to create these indexes for all fifty states for the years 2002-2009. Descriptive analysis compares state fiscal stress levels (grouped into low, moderate, and high fiscal stress by cluster analysis) to state economic growth rates, state responses, and institutional factors yielding several findings. First, states do not use an incremental or punctuated equilibrium strategy in responding to fiscal stress; nor do their responses follow the pattern predicted by Cutback Management theory. Second, institutional factors affect both the levels of fiscal stress and state responses to fiscal stress. Regression analysis supports and extends these findings. First, short-term responses of expenditure cuts, tax increases, and rainy day fund use do not affect state fiscal stress levels. Second, these responses have long-term effects on fiscal stress levels. A major implication of this research is that there is very little states can do in the short-term to reduce fiscal stress. However, by balancing expenditures and revenues states can set themselves up to weather the next economic downturn with lower levels of fiscal stress.
20
Nitzan, Jonathan. "Inflation as restructuring : a theoretical and empirical account of the U.S. experience". Thesis, McGill University, 1992. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=39788.
Testo completoAbstract (sommario):
The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and institutional change. In the modern context of large-scale business enterprise, inflationary restructuring arises as an integral part of capital accumulation. On the aggregate level, inflation appeals as stagflation, with the expansion of pecuniary values in the 'business' sphere depending on the strategic limitation of productive activity in the 'industrial' realm. This stagflationary interaction between 'business' and 'industry' is, in turn, linked (on the disaggregate level) to the dynamic formation and reformation of 'distributional coalitions' and the process of aggregate concentration. An empirical analysis of the U.S. experience between the early 1950s and the late 1980s reveals two regimes of inflationary restructuring: the first, which lasted until 1970, involved rapid increases in aggregate concentration with relatively modest stagflation, whereas the second, post-1970 regime consisted of stable (or even declining) concentration amidst severe stagflation.
21
Trottman, Bischof Renata. "Regulation of insider trading : problems and solutions in the United States and Switzerland". Thesis, McGill University, 1990. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=59841.
Testo completoAbstract (sommario):
In this comparative study a broad view of insider trading in the United States and Switzerland will be presented. The goal is to compare the developments in two different nations with different legal traditions.While in the United States a long tradition of literature and cases already exists and a development of cases can be shown, the situation in Switzerland is completely different because the law was enacted only a year ago.
It is the task of this thesis not only to outline the different developments but also to demonstrate the influence the United States had on to the process of legislation in Switzerland.
It may be the price of the internationalization of the capital market that a nation such as Switzerland with some importance in this field is no longer completely free to legislate.
22
Rambo, Jack (Jack Howard). "Alternative Funding Models for Financing Construction of Public School Facilities and Debt Retirement". Thesis, University of North Texas, 1992. https://digital.library.unt.edu/ark:/67531/metadc279337/.
Testo completoAbstract (sommario):
The main purpose of this study was to examine the various finance models that are presently being used to finance facilities and to provide information for the Texas legislature, the Texas Education Agency, and local school districts concerning facilities funding models that might be used in Texas. Based on the information gathered and analyzed, several conclusions are drawn and recommendations regarding state funding of capital projects in the State of Texas are made. The model recommended for Texas is one that provides for an equalized grant and includes formulas for the distribution of state money.
23
Dietrich-Campbell, Bruce John. "Two topics in Finance: 1. Welfare aspects of an asymmetric information rational expectations model : 2. Bond option pricing, empirical evidence". Thesis, University of British Columbia, 1985. http://hdl.handle.net/2429/25565.
Testo completoAbstract (sommario):
In part 1 of this study I examine several models of competitive markets in which a group of uninformed traders uses the equilibrium price of a traded asset as an indirect source of information known to a group of informed traders. Four different models are compared in two homogeneous information cases plus one asymmetric information case, revealing a) an allocative efficiency benefit resulting from the opportunity to trade current consumption for future consumption, b) a 'dealer' benefit accruing to traders who are able to observe and act on demand fluctuations not apparent to other traders, c) a 'hedging' benefit accruing to all traders, and d) a loss of hedging benefits due to information dissemination before hedge trading can take place. The effect of an increase in precision of information given to informed traders is calculated for the above factors and for net welfare.
In part 2, a two-factor model using the instantaneous rate of interest and the return on a consol bond to describe the term structure of interest rates - the Brennan-Schwartz model - is used to derive theoretical prices for American call and put options on U.S. government bonds and treasury bills. These model prices are then compared with market prices. The theoretical model used to value the debt options also provides hedge ratios which may be used to construct zero-investment portfolios which, in theory, are perfectly riskless. Several trading strategies based on these 'riskless' portfolios are examined.Business, Sauder School of
Graduate
24
Taklalsingh, Ravi. "Transfer Pricing Legislation: Effect on Multinational Enterprises in the United States". ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/6487.
Testo completoAbstract (sommario):
Multinational enterprises (MNEs) engage in tax-planning strategies between their related parties that affect their profit and consequently their tax liability. Transfer pricing (TP) legislation addresses these tax planning strategies of MNEs resulting in increased tax revenues. Despite the updated 2006 TP legislation, shifting of profit and taxes is still occurring by MNEs; therefore, the implications of this legislation need to be examined. The purpose of this study was to compare the reporting of profit, before and after change in legislation, as well as to examine the cost of services mediation of the relationship between the status of the legislation and profit reported. The study's theoretical framework was a combination of economic and strategic management theories. This ex-post facto quantitative study addressed two research questions with the first examining the difference in the reporting of operating profit before and after the updated TP legislation. The second assessed how the cost of services mediates the relationship between the status of the TP legislation and the reporting of operating profits. Data collected on a sample of tax returns, representing 32 industry sectors for each of 14 years, from the Internal Revenue Service were used in applying statistical tests for answering these research questions. The results indicated that the updated TP regulations influenced MNEs for reporting greater profit than before the update as well as possibly inconsistent mediation with the proposed mediator of cost of services. These results support having TP legislation since it would increase tax revenues resulting in positive economic and social changes as well as contributing to achieving sustainable development.
25
Schmielau, Robert E. "Equality and liberty in state policy for the funding of school capital expenditures". Virtual Press, 2000. http://liblink.bsu.edu/uhtbin/catkey/1167799.
Testo completoAbstract (sommario):
The primary purpose of this study was to determine provisions for equality and liberty for the funding of school capital expenditures in each of the 50 states. More specifically, the following issues were analyzed: (a) the extent to which state policies provide equality in funding school facility construction, (b) the extent to which state policies provide local boards liberty in decisions on funding school facility construction, and (c) categorization of the 50 states with respect to provision of liberty and equality for capital outlay funding. A descriptive database of the capital outlay funding systems for each of the 50 states was developed.A descriptive survey research procedure was used. Data were collected from August through November 1999 using a survey instrument developed by the author. Usable data were received from all states.States were categorized as high, moderate, or low with regard to their potential to achieve funding equality and liberty for local districts. Only one state, Hawaii, ranked low in liberty; however, 18 states ranked low in equality. Six states ranked high in both liberty and equality.The following conclusion were formulated: (a) states that continue to rank low in equality are likely to face future litigation; (b) the courts have tolerated some degree of inequality to preserve liberty; (c) politics and not economics often determined how state legislatures responded to equality concerns; (d) differences among the states are far greater with respect to equality than they are with respect to liberty; (e) many states will continue to experience considerable conflict over funding school construction because of the inevitable tensions between liberty and equality.Further study was recommended in both the 18 low equality states and the six states that ranked high in both equality and liberty. The purpose should be to identify legal, political, and economic variables that affected school construction finance policies in those states.Department of Educational Leadership
26
Arnett, Sarah. "Fiscal stress in the U.S. states: an analysis of measures and responses". Diss., Georgia Institute of Technology, 2011. http://hdl.handle.net/1853/42860.
Testo completoAbstract (sommario):
Fiscal stress is an important and recurring problem that states face. Research to date on state fiscal stress involves, predominantly, cross-sectional and case study analyses and does not address the effectiveness of state responses. Many of these studies use different definitions and measures of fiscal stress compounding the difficulty of comparing fiscal stress findings. The present research effort adds to the fiscal stress literature by (1) clarifying the meaning of fiscal stress in the state context, (2) developing a measure of fiscal stress that operationalizes this meaning and is comparable across units, and 3) using this measure analyzes patterns in and the effectiveness of state responses. Fiscal stress is measured using four indexes: budget, cash, long-run, service-level. Eleven financial indicators, calculated using data from state Comprehensive Annual Financial Reports (CAFRs), are used to create these indexes for all fifty states for the years 2002-2009. Descriptive analysis compares state fiscal stress levels (grouped into low, moderate, and high fiscal stress by cluster analysis) to state economic growth rates, state responses, and institutional factors yielding several findings. First, states do not use an incremental or punctuated equilibrium strategy in responding to fiscal stress; nor do their responses follow the pattern predicted by Cutback Management theory. Second, institutional factors affect both the levels of fiscal stress and state responses to fiscal stress. Regression analysis supports and extends these findings. First, short-term responses of expenditure cuts, tax increases, and rainy day fund use do not affect state fiscal stress levels. Second, these responses have long-term effects on fiscal stress levels. A major implication of this research is that there is very little states can do in the short-term to reduce fiscal stress. However, by balancing expenditures and revenues states can set themselves up to weather the next economic downturn with lower levels of fiscal stress.
27
Deal, Keren H. "An examination of municipal finance reform regarding municipal bankruptcies in the United States". Auburn, Ala., 2007. http://repo.lib.auburn.edu/07M%20Dissertations/DEAL_KEREN_35.pdf.
Testo completo
28
Peterson, Nicholas. "Lost in Translation Quantitative Easing, Finance and Household Recovery in the United States". Thesis, Department of Political Economy, 2015. http://hdl.handle.net/2123/14088.
Testo completo
29
James, Glenn W. "A comparison of expenditure patterns in public two-year colleges with declining, steady, or increasing budgets". Diss., Virginia Tech, 1991. http://hdl.handle.net/10919/39775.
Testo completoAbstract (sommario):
This study was designed to contribute to the development of internal allocation models by selecting basic concepts from external allocation models and examining for the presence of these concepts in the actual internal allocation activity of public two-year colleges.
First, this study examined whether there was a significant difference in the way that public two-year colleges with declining, steady, or increasing budgets apportioned their funds in each of six major expenditure categories during the period of 1977-78 through 1985-86. The six major expenditure categories are instruction, academic support, libraries, student services, institutional support, and operation and maintenance of plant. The source of institutional data was the Higher Education General Information Survey conducted by the National Center for Education Statistics.
The 460 colleges in the sample were assigned to groups according to budget change: growth, stasis, or decline. The following dependent variables were identified for each of the six major expenditure categories: (a) category expenditures (b) percentage of educational and general (E&G) expenditures apportioned to the category, and (c) category expenditures per full-time-equivalent student (FTES). A two-factor analysis of variance (ANOVA) with repeated measures on one factor was used to test for differences in the mean expenditure measures among budget groups, across years, and for the interaction of group and year.
Concepts derived from external allocation models then were used to explore the results of the data analysis. Application of these concepts suggested that, regardless of budget group, funds were allocated to both instruction and academic support through use of a model incorporating a percentage of E&G expenditures for variable cost. Student services and operation and maintenance of plant appeared to be operating under a model with a per-FTES component for variable cost. Libraries and institutional support, however, appeared to be operating under models that were not examined in this study or for which techniques used herein were not adequate.Ed. D.
30
Chhun, Sereyrithy. "Key complex issues impacting public private partnerships for transportation renewal projects in the United States". Thesis, Colorado State University, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=1564437.
Testo completoAbstract (sommario):
Highways have become a symbol of modern America (Levinson, 2004), and infrastructure investment plays a pivotal role both in short-term and long-term economic growth and in job creation. In the US, it represents 16% of the gross national product, and every dollar of public investment in highways has a net rate of return of 22 cents, and every billion dollars of federal highway investment generates 47,500 jobs (AASHTO 2003). In response to the inabilities to raise government revenues in the US, aging infrastructure systems, and high construction and O/M costs, infrastructure development has steadily become a collaboration work between the public and private sector. In liberalized infrastructure markets, various governance structures are being tested for application of public-private partnerships (PPPs or P3s) strategies in infrastructure development (Estache, 2004).
This thesis aims to review the key complex PPP issues in transportation renewal projects in the US that adopt PPPs. While PPPs can be applied to a range of agreements, the PPP projects to be studied and analyzed in this paper will be limited to those involving complex financing, design, construction and long-term operation and maintenance of transportation infrastructure of at least 10 years. These issues are examined in the context of six case studies in six different state across the US by means of interview and archival record. Findings resulting from this work suggested that PPPs have been increasingly implemented by departments of transportation in the US as a mean to tape into private resources. In addition, this research identified four key complex PPP issues in transportation projects as such Economic issue, Procurement issue, Risk Issue, and Governance issue. States have established a dedicated organizational unit to facilitate the use of PPPs, for example High Performance Enterprise (HPTE) in Colorado and Innovative Project Delivery Division in Virginia, but there exist no standards or best practices in the United States for procurement, concession terms, or risk-sharing.
31
Marron, Donncha. "'Mastering the possibilities' : a sociology of credit, consumption, risk and identity in the United States". Thesis, University of Glasgow, 2006. http://theses.gla.ac.uk/5521/.
Testo completoAbstract (sommario):
This thesis sociologically analyses the development of consumer credit within the United States and the forms through which it has been governed and regulated. It is demonstrated that, as the consumption of goods and services came to play an increasingly important role in the mediation of social life during the first half of the 20th century, consumer credit grew in scale and form, funded by mainstream finance capital. As articulated by economists, such credit was justified as ‘productive’, an essential element in the facilitation of mass consumption now seen as a fundamental corollary of mass production. The state, through legislation and new initiatives, sought to protect, direct and manage the market for credit in the interests of nurturing a wider social wellbeing. It is suggested that by the 1920s the instalment plan, underpinned by the ‘conditional sale’ contract form, represented a new, paradigmatic form of credit. With it, lenders channelled credit to consumers through carefully calibrated, bureau-legal processes which served to discipline and regulate credit use and repayments to prevent default losses. From the 1960s, with the cultural critique of mass society and the rise of new modalities of consumption concerned with lifestyle and self-identity, the widened size and scope of credit is demonstrated. Tracing the institutional development of the credit card, it is contended that this created a new paradigm of credit as a personalised, mobile resource to be drawn upon by individuals in the increasingly autonomous, market-derived living of their lives. Permeated by the political rationality of neo-liberalism, it is elaborated how the state’s regulation of credit has shifted on the basis of its perceived responsibility to promote this individualised, ‘enterprising’ mode of life.
32
Morrison, Douglas B. "Resource Allocation Patterns at U.S. Community Colleges: An Evaluation of Priorities, Efficiency and the Historical Mission 1981-82 Through 1986-87". PDXScholar, 1989. https://pdxscholar.library.pdx.edu/open_access_etds/1138.
Testo completoAbstract (sommario):
Over a six-year period, this study compares the demonstrated priorities and efficiency of 328 U.S. community colleges to the historical mission of community colleges which includes the goals of unrestricted student access, service to many students, and the delivery of comprehensive, high-quality, low-cost educational programs. Sample data was provided by NACUBO for 328 institutions (out of a U.S. population of 770) reporting in both 1981-82 and 1986-87. The study compares the 1986-87 resource allocation patterns for each institution to the 1981-82 patterns for that same institution. Measurements include the level, mix, and rate of change in F.T.E. student enrollments, square footage, market penetration, the number of full-time faculty, F.T.E. faculty, support staff, and expenditures for Direct Instruction, Instructional Support, Student Services, Institutional Support, and Plant Operations. 2 Summary data is presented for the sample as a whole and separately by state for institutions with enrollment growth and for institutions wi th enrollment decline. Over the six-year period, sample institutions received $1.4 billion in incremental revenues. Classroom teaching received 43.1 cents of every incremental dollar, ranked fourth out of five expenditure categories in rate of expenditure growth and fell from 50.5% of total expenditures to 48.4%. Square footage and F.T.E. support staff increased 9.3% and 13.2% respectively while F.T.E. student enrollments and the number of full-time faculty declined 2.9% and 2.4% respectively. By 1986-87 fewer F.T.E. students and a smaller percentage of service area populations were served by fewer full-time teachers, at higher cost by substantially more square footage and support staff. The study concludes that these patterns are inefficient and inconsistent with the historical mission of community colleges.
33
Dose, Tommaso <1992>. "Contemporary history of finance for companies in Italy, Germany, the United Kingdom and the United States of America". Master's Degree Thesis, Università Ca' Foscari Venezia, 2016. http://hdl.handle.net/10579/9253.
Testo completoAbstract (sommario):
The dissertation is a comparative analysis of the historical causes that have lead to different prevailing financing methods in four different countries: Italy, Germany, the UK and the USA. The period taken in consideration goes from the end of the Second World War to the end of the twentieth century, but in certain cases it has been necessary to mention episodes prior to the considered period of time.
Each one of the four countries has a chapter dedicated to the explanation of its own Politics and Society, Economy, Stock Exchange, Peculiar financing/investing systems, Corporate Ownership and a final Commentary.
Each chapter brings new notions, and the more the reader proceeds with the text, the more it is possible to understand differences and to connect dots.
34
Qureshi, Zaina Parvez. "Market Discontinuation of Pharmaceuticals in the United States". The Ohio State University, 2009. http://rave.ohiolink.edu/etdc/view?acc_num=osu1250572741.
Testo completo
35
El`Ghaouti, Valerie R. "The changing role of soft money on campaign finance reform the birth of the 527 and its consequences /". unrestricted, 2007. http://etd.gsu.edu/theses/available/etd-06072007-152512/.
Testo completoAbstract (sommario):
Thesis (M.A.)--Georgia State University, 2007.Title from file title page. Michael Binford, committee chair; Daniel Franklin, Richard Engstrom, committee members. Electronic text (54 p. : ill. (some col.)) : digital, PDF file. Description based on contents viewed May 8, 2008. Includes bibliographical references (p. 52-54).
36
Keenan, Michelle Joy. "Public Law and Private Decisions: Birth Control in Connecticut from 1923 to 1965". Thesis, Boston College, 2007. http://hdl.handle.net/2345/559.
Testo completoAbstract (sommario):
Thesis advisor: Cynthia L. LyerlyThe forty year fight to reform the 1879 Comstock statute that prohibited the use of birth control in Connecticut began in 1923. When the 1879 measure was originally enacted, it was in response to the bustling market for pornography and reflected that part of the Victorian moral reform movement which classified all things that referenced sex as obscene. Throughout the lengthy struggle, several court cases were pursued and numerous bills were introduced in the state legislature to various degrees of support. Every decade had a different set of arguments for and against the legalization of birth control, spanning from economic and social to medical and moral. The law was ruled unconstitutional by the United States Supreme Court in 1965 based on the burgeoning right to privacy
Thesis (BA) — Boston College, 2007
Submitted to: Boston College. College of Arts and Sciences
Discipline: History
Discipline: College Honors Program
37
Dawson, Christina M. "Public school finance programs in the southern region of the United States: 1986-87". Diss., Virginia Polytechnic Institute and State University, 1987. http://hdl.handle.net/10919/49841.
Testo completoAbstract (sommario):
This study describes the current status of the state aid programs in the Southern Regional Education Board (SREB) membership: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia. The financing of educational programs in the SREB states in 1986-87 was compared to the financing of educational programs in 1978-79.
When making decisions concerning funding and program design for public elementary and secondary education systems, state legislators and education interest groups often compare the information available from other states to the proposals for their particular state. If other states have enacted similar proposals or have considered them and not implemented them, the inquiring state will use this information to guide the decision-making process.
American Education Finance Association (AEFA) members physically located in the states were recruited to provide a detailed description of their respective public school finance programs. When AEFA members were not available, the chief school officer was asked to provide the description. The information in the descriptions was verified by each state’s school finance office.
A portion of the funds supporting change efforts flowed through traditional school finance formulae. Many of the states expanded basic funding and categorical programs. Much of the funding for new efforts was allocated outside of the equalization formulae used to provide the bulk of school support.Ed. D.
incomplete_metadata
38
Merriman, Douglas Arthur. "Cyclical Economic Impacts on Aggregated Fiscal Imbalance Levels in the United States". ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/239.
Testo completoAbstract (sommario):
Cyclical Economic Impacts on Aggregated Fiscal Imbalance Levels in the United States
by
Douglas A. Merriman
MSM, University of Maryland University College, 2004
BS, Central Washington University, 1983
Dissertation Submitted in Partial Fulfillment
of the Requirements for the Degree of
Doctor of Philosophy
Applied Management and Decision Science
Walden University
July 2015
The impacts of cyclical economic volatility on state-level fiscal imbalance levels have gained attention, given that beginning in late 2007, the United States experienced the deepest and longest-lasting recession in its history. The problem addressed by this study was whether there was a statistically significant relationship between certain economic factors and fluctuations in state-level fiscal imbalance levels in the U.S. during the period 2000 to 2010. The purpose of this study was to evaluate relationships between certain economic factors and state-level fiscal imbalance levels in the 48 contiguous U.S. states, and to assess how the presence and relational strength of these relationships varied during an economic cycle. Musgrave's theory of public economy, Oates's fiscal federalism theory, and Buchanan's fiscal imbalance theory served as the theoretical foundation. This longitudinal, time-series-cross-sectional study used multiple linear regressions to assess the relationships between the federal agency-provided datasets of unemployment, age, per capita income, poverty, entrepreneurial activity, gross state product, and the levels of fiscal imbalances in the 48 contiguous U.S. states during the period of 2000 to 2010. The study results provided evidence that the set of independent variables explained a significant amount of the overall fluctuation in fiscal imbalance levels from 2000 to 2010, and that the independent variables of unemployment rate, percent of population under the federal poverty level, and gross state product were related to fiscal imbalance levels with varying degrees of statistical significance and strength from one year to the next. The implication of the study for social change is that policy makers who understand these relationships may construct better policies to mitigate fiscal imbalance volatility and to encourage state-level fiscal equivalence across the United States.
39
Markwith, James Q. "Did the Founding of the United States Federal Reserve Impact the Financial Markets of the United Kingdom?" Scholarship @ Claremont, 2016. http://scholarship.claremont.edu/cmc_theses/1353.
Testo completoAbstract (sommario):
This paper examines U.K financial metric data to determine whether or not the founding of the Federal Reserve had real economic effects on the U.K financial markets. To measure for real effects I use a composite stock price index collected from a variety of industries. I develop the theory using empirical conclusions from past studies on the Federal Reserve and its impact on U.S financial markets to direct my examination of the U.K markets. Although the U.K data shows that the founding of the Federal Reserve influenced short-term interest rates, the analysis does not find real effects on U.K stock prices and long-term interest rates.
40
Stewart, Duncan Chaz. "Investigating Cable: the Potential and Actual Value of PEG & Franchise Fees". PDXScholar, 2017. https://pdxscholar.library.pdx.edu/open_access_etds/3831.
Testo completoAbstract (sommario):
Cable Franchise Fees and PEG Fees function as key resources to the longevity of local media. Critics of the fees suggest that revenue earned from them is misplaced, and/or misused. This research examines the budgets of twenty US cities to determine how much money cities are collecting from these fees and where these funds are spent in an attempt to determine if the actual usages of Franchise and PEG Fee revenue corresponds to their theoretical benefits.
41
Hughes, Mary F. "Multivariate analysis of equity in public elementary and secondary school finance". Diss., This resource online, 1990. http://scholar.lib.vt.edu/theses/available/etd-08252008-162024/.
Testo completo
42
Morii, Yumiko. "A Comparative Analysis of Corporate Finance in the United States and Japan From 1880 to 1930". FIU Digital Commons, 2008. http://digitalcommons.fiu.edu/etd/19.
Testo completoAbstract (sommario):
This study explained the diversity of corporate financial practices in two nations. Existing studies have emphasized the reliance on equity finance in U.S. firms and bank loans in Japanese firms. In fact, patterns of corporate finance were much more complex. Financial institutions, which were created by national economic policy and regulation, affected corporate financial practices, but corporate financial practices often differed from what policymakers expected. Differences in corporate financial practices between nations also reflected differences in the mixture of industries in each nation. Many factors such as the amount of fixed capital, the process of production, the level of risk, the degree of innovation, and the importance of the industry in the national economy affected corporate financial practices. In addition, corporate financial practices within each nation differed from firm to firm due to managers’ considerations about stock ownership, which would affect their control power; corporate finance was closely related to control over management through ownership. To explain these complexities of corporate financial practices, the study linked corporate finance with the development of financial institutions in the United States and in Japan. While financial institutions affected corporate financial practices, the response of the firms to financial institutions and opportunities were diverse. The study also attempted to grasp variations in corporate financial practices by dealing with companies in three sectors: railroads, public utilities, and manufacturing. Finally, the study examined the structure of firm ownership. Contradictory to the widely held belief that U.S. firms distributed securities more widely to the public than did Japanese firms, many large American firms remained closely held, while some Japanese counterparts built publicly-held corporations.
43
Levin, Noah. "The Impact of Weather Forecasts on Day-Ahead Power Prices". Scholarship @ Claremont, 2011. http://scholarship.claremont.edu/cmc_theses/210.
Testo completoAbstract (sommario):
1. Introduction Power industry deregulation and electricity market restructuring, which began in Chile in the 1980s and then spread to Norway, New Zealand and the UK, were introduced in the United States with the passage of the Energy Policy Act (EPA) of 1992 (Jameson, 1997). The EPA and subsequent Federal Energy Regulatory Commission (FERC) Orders led to the restructuring of vertically integrated electric utilities, the establishment of Independent System Operators (ISO) and Regional Transmission Organizations (RTO) and the development of competitive wholesale power markets. Deregulation also led to the creation of various electricity contract–based financial derivative products. In 1996, the New York Mercantile Exchange (NYMEX) created the US’s first electricity futures, the Palo Verde and California/Oregon Border contracts, which were traded for physical delivery (Warwick, 2002). While these products were eventually delisted in 2002, other exchange-traded and OTC contracts, for both physical and financial settlement, have been introduced on numerous exchanges, including the Intercontinental Exchange (ICE), Chicago Mercantile Exchange (CME) and markets operated by ISOs and RTOs. From the start, deregulation of the electricity industry has been a contentious and controversial subject, its economic, political and social ramifications hotly debated in the US and abroad. The debate continues, and as of September 2010, fifteen states and the District of Columbia have deregulated electricity markets, seven have suspended restructuring activities and twenty-eight have no deregulatory legislation or restructuring activities to speak of (FERC, 2010).
44
Wang, Xiyang. "Recovery rate, debt structure and valuation within U.S. bankruptcy law". Thesis, University of Nottingham, 2017. http://eprints.nottingham.ac.uk/39126/.
Testo completoAbstract (sommario):
The U.S. Bankruptcy Code is a frequently used channel to resolve corporate financial distress. In the code, liquidation (Chapter 7) and reorganization (Chapter 11) are two most crucial processes. My PhD thesis discusses several important issues around the U.S. Bankruptcy Code, including recovery rate determination in bankruptcy, debt valuation in bankruptcy under a two-class debt structure and determination of an optimal bankruptcy threshold. With the aim of linking corporate finance and asset pricing, new models of credit risk are developed in this thesis and fruitful empirical implications are generated. Specifically, the first main chapter is “Default and Recovery Rate under Chapter 11 with Multiple Debts”. This studies both theoretically and empirically the influence of debt structure on the outcome of debt renegotiation under Chapter 11. I investigate the trilateral negotiation in court-supervised formal bankruptcy. The model demonstrates how loans and bonds differ in terms of concentration level of debt owner and how this disparity impacts the action of the debtor company both before and after bankruptcy. The model developed in this chapter predicts that creditors’ ultimate recovery is higher for firms with more bank debt and less bargaining frictions and, despite the bank’s involvement improving total recovery, bondholders are still disadvantaged by the presence of senior bank creditors. Using a sample of 439 U.S. firms that filed for Chapter 11 during 1987-2014, I present evidence on the link between bank debt share and recovery rates that is supportive of the model’s prediction. The second main chapter is “Debt Structure and Valuation in U.S. Bankruptcy Code”. In this chapter I discuss the impact of bankruptcy procedure on security valuation by developing a credit risk model. As in the first chapter, the debt structure is in the form of two-class debt. A structural model of credit risk is built where default and liquidation are represented by two boundaries and a grace period is granted prior to liquidation. Within the setup, corporate debt is viewed as quasi Parisian corridor option and valuations are obtained via a partial differential equation formulation solved using a finite difference approach. The model can generate a credit spread for corporate debt which is more quantitatively consistent with the market credit spread. In this chapter I also show how the debt valuation is affected by several bankruptcy-related factors such as length of grace period. The last chapter, “Boundary Determination and Optimal Control Right Allocation in Financially Distressed Firms”, analyzes the determination of optimal default and liquidation boundaries in bankrupt entities. Compared with the previous chapter, this chapter reexamines the issue of debt valuation but allows the liquidation and renegotiation boundaries to be determined endogenously by valuing the maximization decision of involved parties. The model results show that different claim holders choose different default and liquidation boundaries to maximize the value of securities they hold, which leads to conflicts of interest between borrowers and lenders and also between different borrowers. The first-best outcome can be achieved if bondholders determine the liquidation boundary. Finally, the model shows that the optimal length of grace period, in the sense of firm value maximization, is roughly 6 months.
45
Urso, Philip G. "Analysis of characteristics in the defense supplemental appropriation". Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2002. http://library.nps.navy.mil/uhtbin/hyperion-image/02Dec%5FUrso.pdf.
Testo completo
46
D'Sylva, Ashley Paul 1969. "Examining resource allocation within United States public Research I universities: An income production function approach". Diss., The University of Arizona, 1998. http://hdl.handle.net/10150/288841.
Testo completoAbstract (sommario):
In the past 10 years, state financial support for public universities has declined, when measured as a proportion of current-fund revenues. Whether in response to this decline or to satisfy other ends such as personal utility and prestige enhancement, universities and their faculty have sought alternative sources of revenue, mostly through increased research grants and contracts and student tuition and fees. The effects of these revenue changes are observed in the primary operating units of universities, academic departments, which serve as the primary focus of this study. These changes have promoted concern in recent years that public research universities devote too much of their scarce resources to research at the expense of teaching. Specifically, concerns over teaching productivity and quality abound, especially at the undergraduate level. These concerns have been explained theoretically in terms of faculty preferences to perform research and research-related tasks, over undergraduate instruction--The Economic Theory of the Firm; and in terms of the increasing influence of providers of external revenues upon the behavior of the institutions--Resource Dependency Theory. These two frameworks are used to examine whether changes in departmental revenue support patterns affect undergraduate education at major public research universities. To test the theories, departmental instructional and research productivity data from the 1994 and 1996 American Association of Universities Data Exchange (AAUDE) are examined. This sample data contains information on 8 public Research I universities, 200 departments, and 1000 data points for 1994, and 6 public Research I universities, 134 departments, and 680 data points for 1996. Seemingly Unrelated Regressions and Piecewise Linear Regressions, following a semi-log specification, are used to estimate the rate of return to instructional productivity, research productivity, and departmental quality, within the income production function of the departments. The primary finding was that although some shifts in resource allocation were observed to move in a direction that potentially favored research-related endeavors, i.e., graduate instruction and departmental quality, instruction, overall, was most greatly rewarded in the allocation process, and undergraduate instruction more so than graduate instruction.
47
Henry, Heather L. (Heather Lynn). "A comparative study of the inflationary policies of Australia, Chile, Germany, New Zealand, South Africa and the United States of America". Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/49741.
Testo completoAbstract (sommario):
Thesis (MBA)--Stellenbosch University, 2003.Some digitised pages may appear illegible due to the condition of the original hard copy
ENGLISH ABSTRACT: Since 1989 an increasing number of countries have introduced inflation targeting as a monetary policy and many of them have achieved great success. This apparent success has led some to speculate that inflation targets might also be desirable for countries at somewhat lower stages of economic development, including South Africa. The idea of an inflation target for South Africa has, in fact drawn growing support as a practical response to the increasing difficulty of monetary targeting with a liberalised capital account and was implemented in the country on 23 February 2000. Inflation targeting makes the exchange rate less flexible in response to foreign shocks and thus lessens the automatic stabilisation provided by flexible exchange rates. There is some argument to suggest that South Africa may not be a good candidate for an inflation target relative to other countries that have introduced similar policies because of the relative importance of foreign shocks and the weak linkage between monetary policy and inflation. The study of both developing iand developed countries and also countries with and without explicit inflation targeting policies has shown that there is no evidence to substantiate that South Africa should have less success at curtailing inflation through the adoption of inflation targeting. The study explores the economic history and tradition of each of the evaluated countries, namely Australia, Chile, Germany, New Zealand, South Africa and the United States of America, with specific reference to the history and cause of inflation. It is summarised for each individual country based on the policy or approach that the country has adopted and the apparent success thereof.
AFRIKAANSE OPSOMMING: Vanaf 1989 het al hoe meer lande inflasie mikpunte as deel van hul monetêre beleid ingestel en baie van hulle het groot sukses behaal. Hierdie klaarblyklike sukses het ander daarnatoe gelei om te glo dat inflasieteikens ook van belang in minder ontwikkelde lande, Suid- Afrika ingesluit, mag wees. Die konsep van inflasiemikpunte het inteendeel positiewe reaksie uitgelok as 'n potensiële antwoord op toenemende moeilike valute teikens en is in Suid- Afrika vanaf 23 Februarie 2000 toegepas. Inflasieteikens veroorsaak dat wisselkoerse weens buitelandse ekonomiese skokke minder buigbaar is, dit verlaag dus die outomatiese stabiliteit wat buigbare wisselkoerse voorsien. Daar word gesê dat Suid- Afrika, in vergelyking met ander lande, wat die beleid alreeds toegepas het, nie 'n goeie kandidaat is vir inflasieteikens is nie weens die belangrikheid van buitelandse skokke en die swak koppeling tussen monetêre beleid en inflasie. Hierdie studie, wat beide ontwikkelde en ontwikkelende lande, met of sonder formele inflasieteikens, ondersoek, dui aan dat daar geen bewys is dat Suid- Afrika minder sukses kan behaal deur die toepasssing van formele inflasieteikens nie. Die studie is gemik daarop om die ekonomiese geskiedenis en tradisie van elk van die bespreekte lande, naamlik, Australië, Chile, Duitsland, Nieu- Seeland, Suid- Afrika en die VSA te ondersoek, met spesifieke verwysing na die geskiedenis en oorsaak van inflasie in daardie lande. Elke land word volgens die beleid of benadering wat toegepas is, en die klaarblyklikr sukses daarvan, opgesom.
48
Vittatoe, Katelyn B. "An Examination of the Residential Mortgage Systems in the United States and Canada during the Great Recession". Digital Commons @ East Tennessee State University, 2015. https://dc.etsu.edu/honors/306.
Testo completoAbstract (sommario):
In 2007, the United States suffered what is known as the "Subprime Mortgage Crisis". This took an enormous toll on the United States Economy. However, nearby country, Canada did not experience this situation. The objective of this thesis is to determine why such different outcomes were seen in order for future economic stability. This research will examine mortgage processes, mortgage management, foreclosures on mortgages of both countries. It will then paint the economic picture that each country faced in 2007, while providing an explanation as to why the United States fared much worse than Canada during this time.
49
Sadowsky, Mitchell. "Investigation into the relationship between the amount of revenue a minor league team makes and the size of the market in which it is located". Virtual Press, 2000. http://liblink.bsu.edu/uhtbin/catkey/1164855.
Testo completoAbstract (sommario):
The purpose of this project was to determine if there was a relationship between the amount of revenue a minor league team makes and the size of the target market in which the team is located. A secondary purpose of this study was to determine the efficacy of the inQsit program, an Internet-based testing program developed at Ball State University, as a means of gathering and analyzing data. Only minor league baseball teams that could be reached via e-mail addresses were involved in this study. Subjects (n=149) were e-mailed a cover letter with an embedded URL which took them to the inQsit web site. While a higher return rate was anticipated using this electronic media, the 11% participation rate should give an accurate picture of minor league baseball teams, the amount of revenue they earned in a year, the types of revenue they earned in a year, and the size of the market in which they are located. However, based on the information collected from the minor league teams, the sample size was not large enough to produce statistically significant results, although some trends were identified, suggesting that target market size may have a positive affect on minor league baseball revenue.School of Physical Education
50
Pryor, Lindsi M. "A study of relationship management techniques used during a stadium construction's social drama". Virtual Press, 2006. http://liblink.bsu.edu/uhtbin/catkey/1355254.
Testo completoAbstract (sommario):
This study examined public relations in the context of sports to better understand the relationship management methods used during an issue to provide conclusions for how public relations can be applied to develop, improve, and maintain relationships between a team and its community, particularly during an issue.Using a content analysis, this study reviewed relationship management literature and applied strategies of relationship management to stages of Turner's (1974) social drama. The content analysis of 454 news articles revealed that although relationship management strategies were identifiable, they were not significantly utilized by franchises and supporters. The lack of relationship management techniques could be used to explain why the franchise-community relationship was unstable throughout the social drama and why the social dramas lasted longer than the sports franchises anticipated. It also supports public relations researchers who argue for the use of public relations management techniques during conflict in order to build and maintain relationships between an organization and their publics.Department of Journalism