Browsing by Subject "Finance"

Now showing 1 - 20 of 91

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(2011) Rapoport, Bernard
12 Business Lessons We Learned in 2022
(2022-12-19) Texas McCombs
Americans: Living Rich, Retiring Poor
(2014-04-08) Dawson, Adrienne
Auditing Committees Hire Handsome Partners
(2022-01-28) Blumberg, Deborah Lynn
Audits Can Bring Bad News or Benefits to Small Businesses
(2022-11-29) Biesada, Alexandra
Blockchain Conversation Needs a Change
(2018-12-12) Gibson, London
Boletín mensual
(1999) Banco Central De Venezuela
Monthly bulletin of the Central Bank of Venezuela
Breaking Good: Focused Work Breaks Boost Productivity
(2022-11-04) Simon, Jeremy M.
Charter school budget formation : a critical analysis of ideologies that inform decisions to fund emergent bilingual students
(2023-08-07) Achilike, Preston Okechukwu; Childs, Joshua; Valenzuela, Angela; Reyes, Pedro; Brownson, Amanda; Taylor, Zachary; Martinez, David G
In considering the impact of ideologies, is it important that both organizational and budgetary ideologies that affect educational delivery to emergent bilingual (EB) students) be understood regarding the budgetary decisions made in school districts serving high percentages of EB students. Therefore, the purpose of the study was to examine budget formation within charter schools based on a critical analysis of the ideologies from which decisions about funding affected EB students. The field study was the most appropriate design for an in-depth analysis of the perceptions about funding and EB students had by superintendents leading charter schools. The criteria for participating in an interview required superintendents to lead open-enrollment K-12 charter schools located in North Texas, which contained over 40 different charter school systems. However, charter school district superintendents had to be serving a school district with an EB student population of at least 60% of its total enrollment. Each interview lasted between 1.5 and 3 hours and revealed the three participants had extensive education experience in a public charter school, had been in their current roles for at least 10 years, and had held other positions within their charter districts prior to assuming their current superintendencies. The three superintendents represented four charter school districts, as one superintendent split time between two charter districts. Four themes emerged to represent the ideologies and budget priorities of the charter school district superintendents who discussed EB funding in three charter districts with high concentrations of EB students: (a) teacher training, certification, and shortages, (b) funding, accountability, and policies, (c) equity in mind, and (d) funding and teacher student ratios. The findings suggest this critical analysis of charter school budgeting can be used to affect the current understanding of school organizations and the ways Texas public schools and districts could inadvertently negatively influence the learning outcomes for students of color who include EB students and students of other minority groups who could benefit from bilingual education. Chapter 5 concludes the study with recommendations for policy, practice, and research.
Cheaters in the Home and at Work
(2019-07-30) Simon, Jeremy M.
Companies Take Risks When Making Secret Political Contributions
(2021-01-12) Blumberg, Deborah Lynn
A Comparative Analysis of Recent Financial Crashes and Contagions
(2023-04) Srinivasan, Rohit
This thesis examines the 2022 Crypto Crash in the context of financial contagions and asset crashes, aiming to understand the presence or absence of contagion and identify the factors that differentiate the crypto crash from other financial crashes. We address the research question: Was there a financial contagion present in the 2022 Crypto Crash, and if not, what factors prevented a contagion from occurring?
Congressional Insider Trading: A Legislative Analysis and Covid-19 Case Study
(2023-05) Sarvadi, Katherine
Due to their political positions, members of Congress often find themselves privy to information that has not yet been revealed to the public, some of which has the potential to impact the value of publicly-traded companies. Due to legislation such as the Ethics in Government Act of 1978 and the STOCK Act of 2012, Congressional members are prohibited from trading on this information and are required to file public disclosures no more than 30 days after trading securities. In the past, however, these regulations have proven unsuccessful in stopping this behavior–including during the Covid-19 Pandemic.
The County Permanent School Fund in Texas
(1941) McCrary, James Wilson; Not available
COVID ‘Motherhood Penalty’ Affects Academic Research Productivity
(2022-12-01) Biesada, Alexandra
Eagle Ford shale : evaluation of companies and well productivity
(2016-08) Chavez Urbina, Grecia Alexandra; King, Carey Wayne, 1974-; Lake, Larry W.
Unconventional resources, particularly shale reservoirs, are a significant component in oil and gas production in the United States as they represent (as of May 2015) 48 and 58 percent, respectively, of the total oil and gas produced. However, there has been a deceleration on oil and gas production in general because of low market prices. The drastic decline in oil and gas prices that started in 2014 has companies struggling to continue their operations, resulting in negative financial outcomes for 2015 for most companies. The present work examines the financial results of three companies, EOG Resources, Pioneer Natural Resources, and Chesapeake Energy, along with their particular well productivity using the Logistic Growth model to forecast production in one of the most prolific shale plays in the United States, the Eagle Ford. This work also examines the economic feasibility of drilling new wells when oil prices are low using a discounted cash flow model for each company. The financial analysis shows that from the three companies, Pioneer Natural Resources has the best financial results; its high cash-flow-to-debt ratio, and low debt and debt-to-equity ratios make it an attractive company to invest in. In contrast, Chesapeake has the worst results which represents high risk for investors, and EOG has moderate results that still make it a good company to invest in. The discounted cash flow model demonstrate that under the cost assumptions and estimated production used in this work, EOG gets the best results from their wells located in the Eagle Ford with break-even prices bordering the 40 $/bbl compared to the other companies with break-even prices above 87 $/bbl for Pioneer and 89 $/bbl for Chesapeake. From the discounted cash flow model, it can also be concluded that none of the companies in the analysis is expected to gain revenue from drilling new wells if oil prices are under 40 $/bbl, and that companies that are quick to respond to the low prices by reducing their drilling and completion costs can significantly improve their well economics.
Earning a More Positive Return
(2020-03-04) Kothare, Meeta
Equalization of educational opportunity and the distribution of state school funds in Texas
(1947) Moore, Hollis A.; Pittenger, Benjamin Floyd, 1883-1969
Essays of credit market behavior and bankruptcy
(2011-05) Chen, Tzu-Ying; Corbae, Dean; Almazan, Andres; Azzimonti, Marina; Chatterjee, Satyajit; Kuruscu, Burhanettin; Wiseman, Thomas
Since the 1980s, household debt has been increasing rapidly. The high level of household indebtedness has been accompanied by a high household bankruptcy rate. My research attempts to provide a better understanding of the theoretical mechanisms behind these credit market and bankruptcy statistics. One of the purposes of Chapter 7 bankruptcy law is to improve debtors' work incentives by giving them a ``fresh start''. Chapter 13 bankruptcy, on the other hand, prescribes a repayment plan that garnishes future wages from debtors to repay creditors, which acts like a wage tax in standard models. In the first chapter, I ask the question ``How much does a fresh start increase labor supply by improving work incentives?'' Because the bankruptcy decision is endogenous, Chapter 7 filers tend to have less earnings and more debt than average individuals. Estimation of the change in labor supply as a consequence of the bankruptcy treatment must therefore take into account selection effects which is complicated by the interdependence of labor and credit market decisions. To answer my question quantitatively, I construct a dynamic partial equilibrium job search model with both bankruptcy choices which allows direct assessment of counterfactual outcomes. Competitive financial intermediaries offer a menu of loan sizes and interest rates that make zero profits. The model predicts that in the short run, a fresh start on average increases the labor supply of Chapter 7 bankruptcy filers by 3.5% over repayment and 3.4% over Chapter 13 bankruptcy. the Fair Credit Reporting Act (FCRA) dictates that adverse events such as a Chapter 7 bankruptcy must be removed from an individual's credit record after ten years. The intent of the law is to provide partial consumption insurance by giving an individual a fresh start. However, the law obviously weakens incentives not to default, which can result in higher interest rates that in turn reduce intertemporal insurance. Because of this tradeoff, it is unclear what is the optimal length of time that an adverse event should be on an individual's credit record. In the second chapter, I assess the welfare consequences of varying the length of time that adverse events can be on one's credit record. We calibrate the model to US data where the exclusion parameter is for ten years. Then I run a counterfactual to find the length that maximizes ex-ante welfare. I find that the optimal length is much lower, specifically 2.5 years, than the current regulation and that the consumption equivalent welfare gain (slightly over 1%) of such a policy change is large. In the third chapter, I explore how such credit checks (information on observable credit market actions) might help with incentives in labor market when there is a monopolistic employer. According to a Survey by the Society for Human Resource Management (2010), 25% of human resource representatives interviewed in 1998 indicated that the companies they worked for ran credit checks on potential employees while the fraction increased to 43% in 2004 and 60% in 2009. Ever since Holmstrom (1979), we've known that wage contracts can be designed to improve incentives for workers. I show by means of example that if the employer can have wage contracts contingent upon the asset choice of employees, the profit may be increased. However, some employees may be worse off. We may then assess the welfare consequences of a law (the Equal Employment for All Act (H.R. 3149)) prohibiting the use of credit information in employment decisions which currently sits before Congress.
Essays on banking and corporate investment
(2011-08) Wardlaw, Malcolm Ian; Titman, Sheridan; Alti, Aydogan; Almazan, Andres; Cohn, Jonathan; Hartzell, Jay; Abrevaya, Jason
This dissertation examines issues in banking and the financing of corporate investment. The first chapter investigates the impact of changes in a bank's health on the investment behavior of its current borrowers for a panel of U.S. firms. I find that, after controlling for aggregate credit availability and the condition of outside banks, firms reduce their investment when the health of their primary bank deteriorates. This effect is only present while the firm maintains a borrowing relationship with the bank and does not appear to be driven by changes in region or industry specific investment opportunities. The health of the existing lender is more important for younger, more opaque firms with greater reliance on their primary bank. I also find that this effect became less significant after the early 1990s, suggesting that bank dependence appears to diminish during long periods of stability. However, results from the recent financial crisis show that healthy banking relationships remain very important to U.S. firm investment. The second chapter, adapted from joint work with Richard Lowery, examines the determinants of covenant structure in private debt contracts. While previous studies have demonstrated a relationship between firm characteristics and the overall strictness of loan contracts, few studies have examined why covenants are written on a range of accounting variables and what determines their selective use. Using a simple model of firm investment where firms face uncertain cash flows and investment opportunities, this essay characterizes the conditions under which it is optimal for a debt contract to specify a restriction on investment or to specify a minimum cash flow realization. Consistent with this model, empirical evidence demonstrates that the application of covenants based on these variables is not necessarily monotonic in firm risk. While the financially riskiest firms tend to employ capital expenditure covenants, cash flow and net worth covenants are most common among moderately risky firms with greater profitability and firms with stronger baking relationships. The results also highlight the importance of debt covenants in both mitigating agency frictions and maximizing the value of future private information.