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- Title
- A SPECTRAL ANALYSIS OF MONEY, INCOME AND EXPENDITURE.
- Creator
- BENNETT, MARIE ELAINE., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis tests whether a simple income-expenditure model is a better predictor of induced expenditure and thus income than a simple quantity theory model. A spectral analysis was performed using alternative definitions of money, income and expenditure. From the results of cross spectral analysis, it was concluded that the money supply is the better predictor of short run (8 months - 3 years) fluctuations in consumption and thus in income.
- Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13570
- Subject Headings
- Income, Consumption (Economics), Econometrics
- Format
- Document (PDF)
- Title
- Governance and earnings management surrounding dividend initiation.
- Creator
- Smith, Deborah Drummond., College of Business, Department of Finance
- Abstract/Description
-
Essay I: Governance surrounding dividend initiation. According to the free cash flow hypothesis, managers prefer to invest surplus cash, even in value reducing projects, rather than release it to shareholders. Yet, previous studies of dividend payout conclude that managers pay more in dividends when they are entrenched, supporting the substitute model... The results indicate that initiating firms have stronger shareholder rights, in contrast with much of the prior research on continuous...
Show moreEssay I: Governance surrounding dividend initiation. According to the free cash flow hypothesis, managers prefer to invest surplus cash, even in value reducing projects, rather than release it to shareholders. Yet, previous studies of dividend payout conclude that managers pay more in dividends when they are entrenched, supporting the substitute model... The results indicate that initiating firms have stronger shareholder rights, in contrast with much of the prior research on continuous divident payout. Firms with lower entrenchment index are more likely to initiate dividends... Essay II: Earnings management surrounding dividend initiation. Prior research tests earnings management surrounding changes in dividend payout and researchers conclude that the earnings management is a means of amplifying the dividend signal to the market. However, dividend initiation is a unique event. If initiation represents signaling, similar to a dividend increase, then management will manage earnings upward. If, on the other hand, divident initiation is better explained by the free cash flow hypothesis, then initiation may be entered into with caution or reluctance by management.
Show less - Date Issued
- 2012
- PURL
- http://purl.flvc.org/fcla/dt/3362041
- Subject Headings
- Investment analysis, Portfolio management, Dividends, Econometric models
- Format
- Document (PDF)
- Title
- A test of market efficiency using ARCH models.
- Creator
- Tan, Feifei., Florida Atlantic University, Yuhn, Ky-hyang
- Abstract/Description
-
The purpose of this thesis is to examine the efficient market hypothesis (EMH) employing an ARCH model proposed by Engle (1982). The relations of the US stock market and other five major stock markets, i.e., the Canadian, French, German, Japanese, and UK markets are investigated. The time series used in this study are monthly stock price and dividend indices for the above six stock markets. The data cover the period from January 1970 to March 1991. In this study I utilize the ARCH model which...
Show moreThe purpose of this thesis is to examine the efficient market hypothesis (EMH) employing an ARCH model proposed by Engle (1982). The relations of the US stock market and other five major stock markets, i.e., the Canadian, French, German, Japanese, and UK markets are investigated. The time series used in this study are monthly stock price and dividend indices for the above six stock markets. The data cover the period from January 1970 to March 1991. In this study I utilize the ARCH model which appears to be very powerful in modeling conditional heteroscedasticity of stock prices. My test results provide unambiguous evidence of significant ARCH effects existing between the six national stock markets. Therefore, this study demonstrates the existence of market inefficiency for these national markets.
Show less - Date Issued
- 1996
- PURL
- http://purl.flvc.org/fcla/dt/15349
- Subject Headings
- Futures Market, Stock Exchanges--Econometric Models
- Format
- Document (PDF)
- Title
- The role of asset reliability and auditor quality in equity valuation.
- Creator
- Fallatah, Yaser., Florida Atlantic University, Higgs, Julia
- Abstract/Description
-
This paper brings together the auditor quality, asset reliability and firm valuation literatures by examining the role of auditor quality in equity valuation. The study broadly follows the Richardson et al. (2005) categorization of the reliability of accounting accruals of balance sheet components and conjectures that the role of auditor quality in equity valuation is more pronounced when asset reliability is not high. Auditor quality is measured using reputation, industry specialist and...
Show moreThis paper brings together the auditor quality, asset reliability and firm valuation literatures by examining the role of auditor quality in equity valuation. The study broadly follows the Richardson et al. (2005) categorization of the reliability of accounting accruals of balance sheet components and conjectures that the role of auditor quality in equity valuation is more pronounced when asset reliability is not high. Auditor quality is measured using reputation, industry specialist and tenure metrics. The underlying assumption is that auditor quality enhances the market's perception of firm value; as such, auditor quality may mitigate the cost of security mispricing documented by Richardson et al. (2005) for low or medium reliability accruals. The results of the study provide some support that high quality auditors contribute to the valuation of equity for assets. It is less clear as to whether the value is more pronounced for low or medium reliability assets.
Show less - Date Issued
- 2006
- PURL
- http://purl.flvc.org/fcla/dt/12231
- Subject Headings
- Auditing--Quality control, Econometrics, Investment analysis
- Format
- Document (PDF)
- Title
- The effect of shareholder rights and information asymmetry on option-related repurchase activity.
- Creator
- Golden, Nan, Kohlbeck, Mark, Florida Atlantic University, College of Business, School of Accounting
- Abstract/Description
-
I investigate the effect of shareholder rights and information asymmetry on option-related repurchase activity. Prior research shows that the dilution effect of the exercise of the employee stock options on earnings per share (EPS) decreases the value of stock options. Thus, managers tend to use stock repurchases rather than dividends to return cash to shareholders (the dividend substitution effect). I document that the executive stock option incentives to repurchase stock as a substitute for...
Show moreI investigate the effect of shareholder rights and information asymmetry on option-related repurchase activity. Prior research shows that the dilution effect of the exercise of the employee stock options on earnings per share (EPS) decreases the value of stock options. Thus, managers tend to use stock repurchases rather than dividends to return cash to shareholders (the dividend substitution effect). I document that the executive stock option incentives to repurchase stock as a substitute for dividends are stronger when firms have weak shareholder rights and the level of information asymmetry positively influences managerial stock option incentives to repurchase stock. Furthermore, prior research indicates that information asymmetry is positively associated with stock repurchases. I also provide evidence indicating that the relationship between information asymmetry and stock repurchases is stronger when firms have weaker shareholder rights.
Show less - Date Issued
- 2015
- PURL
- http://purl.flvc.org/fau/fd/FA00004373, http://purl.flvc.org/fau/fd/FA00004373
- Subject Headings
- Corporate governance, Corporations -- Finance, Dividends -- Econometric models, Employee stock options, Investment analysis, Stock options -- Econometric models
- Format
- Document (PDF)
- Title
- ANALYSIS OF A LOCAL ECONOMY WITH AN ECONOMETRIC MODEL.
- Creator
- OPALAT, STEPHEN E., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
The purpose of this thesis is to present an econometric model for the region of Palm Beach County. This type of economic analysis was chosen because it captures the influence of the service and trade industries as well as the simultaneous nature of other industries which dominate the local economy. The estimation results identified the construction industry as a leading indicator of economic activity in transportation, communications, utilities, finance, insurance and real estate. This...
Show moreThe purpose of this thesis is to present an econometric model for the region of Palm Beach County. This type of economic analysis was chosen because it captures the influence of the service and trade industries as well as the simultaneous nature of other industries which dominate the local economy. The estimation results identified the construction industry as a leading indicator of economic activity in transportation, communications, utilities, finance, insurance and real estate. This simultaneous structure of the model led to the application of various multipler analyses. It was found that local construction output affected gross regional product, local personal income and local total employment. National personal income was found to influence local trade which in turn affects levels of local output, employment and income.
Show less - Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14221
- Subject Headings
- Econometrics, Palm Beach County (Fla)--Economic conditions--Econometric models
- Format
- Document (PDF)
- Title
- Simulation study on option pricing under jump diffusion models.
- Creator
- Rodrigues, Justin, Long, Hongwei, Charles E. Schmidt College of Science, Department of Mathematical Sciences
- Abstract/Description
-
The main objective of this thesis is to simulate, evaluate and discuss several methods for pricing European-style options. The Black-Scholes model has long been considered the standard method for pricing options. One of the downfalls of the Black-Scholes model is that it is strictly continuous and does not incorporate discrete jumps. This thesis will consider two alternate Levy models that include discretized jumps; The Merton Jump Diffusion and Kou's Double Exponential Jump Diffusion. We...
Show moreThe main objective of this thesis is to simulate, evaluate and discuss several methods for pricing European-style options. The Black-Scholes model has long been considered the standard method for pricing options. One of the downfalls of the Black-Scholes model is that it is strictly continuous and does not incorporate discrete jumps. This thesis will consider two alternate Levy models that include discretized jumps; The Merton Jump Diffusion and Kou's Double Exponential Jump Diffusion. We will use each of the three models to price real world stock data through software simulations and explore the results.Keywords: Levy Processes, Brownian motion, Option pricing, Simulation, Black-Scholes, Merton Jump Diffusion, Kou, Kou's Double Exponential Jump Diffusion.
Show less - Date Issued
- 2013
- PURL
- http://purl.flvc.org/fau/fd/FA0004051
- Subject Headings
- Finance -- Mathematical models, Levy processes, Prices -- Econometric models, Statistical physics, Stochastic processes, Valuation -- Econometric models
- Format
- Document (PDF)
- Title
- Revisiting the methodology and application of Value-at-Risk.
- Creator
- Chung, Kyong., Charles E. Schmidt College of Science, Department of Mathematical Sciences
- Abstract/Description
-
The main objective of this thesis is to simulate, evaluate and discuss three standard methodologies of calculating Value-at-Risk (VaR) : Historical simulation, the Variance-covariance method and Monte Carlo simulations. Historical simulation is the most common nonparametric method. The Variance-covariance and Monte Carlo simulations are widely used parametric methods. This thesis defines the three aforementioned VaR methodologies, and uses each to calculate 1-day VaR for a hypothetical...
Show moreThe main objective of this thesis is to simulate, evaluate and discuss three standard methodologies of calculating Value-at-Risk (VaR) : Historical simulation, the Variance-covariance method and Monte Carlo simulations. Historical simulation is the most common nonparametric method. The Variance-covariance and Monte Carlo simulations are widely used parametric methods. This thesis defines the three aforementioned VaR methodologies, and uses each to calculate 1-day VaR for a hypothetical portfolio through MATLAB simulations. The evaluation of the results shows that historical simulation yields the most reliable 1-day VaR for the hypothetical portfolio under extreme market conditions. Finally, this paper concludes with a suggestion for further studies : a heavy-tail distribution should be used in order to imporve the accuracy of the results for the two parametric methods used in this study.
Show less - Date Issued
- 2012
- PURL
- http://purl.flvc.org/FAU/3358328
- Subject Headings
- Valuation, Econometric models, Prices, Econometric models, Financial risk management, Mathematical optimization, Finance, Mathematical models
- Format
- Document (PDF)
- Title
- Econometric models of individual house prices.
- Creator
- Schuler, Frederick Gerard., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house...
Show moreThis thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house characteristics are considered. Chapter IV uses econometric models to analyze tax assessment bias and to test the efficiency of the housing market. Chapter V is a summary of the conclusions and recommendations generated by this analysis.
Show less - Date Issued
- 1989
- PURL
- http://purl.flvc.org/fcla/dt/14522
- Subject Headings
- House buying--Florida, Real property--Florida--Econometric models
- Format
- Document (PDF)
- Title
- The impact of electronic commerce (e-commerce) on sales tax revenue.
- Creator
- Pinkowski, Jack., Florida Atlantic University, Farazmand, Ali
- Abstract/Description
-
This study deals with the impact of electronic commerce (e-commerce) on sales tax revenues in Florida. It uses econometric modeling to forecast taxable retail sales and compares two models. Based on the separation of consumer sales (durables and nondurables) from total taxable sales, changes associated with sales suitable for electronic commerce are scrutinized. Results show that only the model that focuses on consumer sales, not the model for total sales, documents a substantial difference...
Show moreThis study deals with the impact of electronic commerce (e-commerce) on sales tax revenues in Florida. It uses econometric modeling to forecast taxable retail sales and compares two models. Based on the separation of consumer sales (durables and nondurables) from total taxable sales, changes associated with sales suitable for electronic commerce are scrutinized. Results show that only the model that focuses on consumer sales, not the model for total sales, documents a substantial difference in forecast reliability. Forecasts for 1995--1999, the period of inception of electronic commerce, are compared to forecasts for 1989--1994. The errors in forecast increased three-fold both in terms of mean percentage error (M.P.E.) and mean absolute percentage error (M.A.P.E.). Forecasts for total taxable consumer sales and total taxable sales for 1995--1999 are based on data from 1964--1994. They are accurate to .2% in terms of M.P.E. during the 31 years before electronic commerce but declined to -13.7% during the e-commerce period. Modifications in the forecast model to include e-commerce variables are set forth. Potential variables for electronic commerce relate to growth in the Internet, high-tech jobs, Internet domain name registrations, college graduates, high-income households, residents 30--49, and metropolitan population. These trends are found to closely correlate with growth in the error of the sales forecast for 1995--1999 based on the earlier model. The impacts of electronic commerce on government revenues include equitable access to the Internet, inter-jurisdictional competition, fiscal disparities, public choice, globalization, proposals for a national sales tax, value added tax (VAT), use taxes, taxability of services, and the moratorium on Internet taxation. Legal issues regarding interstate commerce are included. The implications for government finance are summarized in the conclusions. A new theoretical concept, the "dual dilemma," is proposed. This is the paradox wherein the obligation of providing adequate fiscal resources, which fund programs with an equitable tax burden, is pitted against competing economic concerns. E-commerce challenges both sides. Economic development and tax expenditures policy forgo revenue to promote growth but may threaten fiscal health. The lack of favorable tax treatment may stifle growth and innovation but such policy may result in unfair competition.
Show less - Date Issued
- 2001
- PURL
- http://purl.flvc.org/fcla/dt/12660
- Subject Headings
- Electronic commerce, Use tax, Sales forecasting--Econometric models
- Format
- Document (PDF)
- Title
- Count models for software quality estimation.
- Creator
- Gao, Kehan, Florida Atlantic University, Khoshgoftaar, Taghi M., College of Engineering and Computer Science, Department of Computer and Electrical Engineering and Computer Science
- Abstract/Description
-
The primary aim of software engineering is to produce quality software that is delivered on time, within budget, and fulfils all its requirements. A timely estimation of software quality can serve as a prerequisite in achieving high reliability of software-based systems. More specifically, software quality assurance efforts can be prioritized for targeting program modules that are most likely to have a high number of faults. Software quality estimation models are generally of two types: a...
Show moreThe primary aim of software engineering is to produce quality software that is delivered on time, within budget, and fulfils all its requirements. A timely estimation of software quality can serve as a prerequisite in achieving high reliability of software-based systems. More specifically, software quality assurance efforts can be prioritized for targeting program modules that are most likely to have a high number of faults. Software quality estimation models are generally of two types: a classification model that predicts the class membership of modules into two or more quality-based classes, and a quantitative prediction model that estimates the number of faults (or some other software quality factor) that are likely to occur in software modules. In the literature, a variety of techniques have been developed for software quality estimation, most of which are suited for either prediction or classification but not for both, e.g., the multiple linear regression (only for prediction) and logistic regression (only for classification).
Show less - Date Issued
- 2003
- PURL
- http://purl.flvc.org/fcla/dt/12042
- Subject Headings
- Computer software--Quality control, Software engineering, Econometrics, Regression analysis
- Format
- Document (PDF)
- Title
- Foreign Market Opportunity Analysis.
- Creator
- Sheng, Shirley Ye, Mullen, Michael R., Florida Atlantic University
- Abstract/Description
-
Foreign-market opportunity analysis is the most frequent objective of international marketing research (Czinkota and Ronkainen 2007). The importance of foreign market opportunity assessment has been well noticed by both marketing managers and scholars. However, a foreign market opportunity analysis model based on theory that goes beyond aggregate demand is still lacking. This dissertation proposes a new model by combining marketing-based Overall Market Opportunity Index (OMOI) scheme with the...
Show moreForeign-market opportunity analysis is the most frequent objective of international marketing research (Czinkota and Ronkainen 2007). The importance of foreign market opportunity assessment has been well noticed by both marketing managers and scholars. However, a foreign market opportunity analysis model based on theory that goes beyond aggregate demand is still lacking. This dissertation proposes a new model by combining marketing-based Overall Market Opportunity Index (OMOI) scheme with the economic-based gravity model of international trade. Hypotheses were tested as well as the usefulness of OMOI/Gravity Hybrid Model through three separate models with empirical analyses structured as follows. The first model extends existing screening methods by combining both OMOI and gravity models. Unlike previous studies using ad hoc or equal weights on variables, this study employs Confirmatory Factor Analysis (CF A) and weight derived from regression coefficient on each factor under study and thus gives a more realistic estimation of the potential for aggregate exports. The second model goes beyond the previous work on aggregate exports by examining data at the sector and category level. In this study, comparisons were drawn between the OMOI/Gravity Hybrid Model in three sectors (manufacturing goods exports, agricultural goods exports and service exports) and 1 0 1-digit SITC categories (SITC 0 to SITC 9). The third model moves from the OMOI/Gravity Hybrid Model to the Industry Market Opportunity Index (IMOI)/Gravity Hybrid Model. This model develops a framework that analyzes market potential for specific industries classified by 2- and 3- digit SITC.
Show less - Date Issued
- 2008
- PURL
- http://purl.flvc.org/fau/fd/FA00000613
- Subject Headings
- Export marketing, International trade--Mathematical models, International economic relations--Econometric models, Comparative advantage (International trade)--Econometric models
- Format
- Document (PDF)
- Title
- Empirical likelihood method for segmented linear regression.
- Creator
- Liu, Zhihua., Charles E. Schmidt College of Science, Department of Mathematical Sciences
- Abstract/Description
-
For a segmented regression system with an unknown change-point over two domains of a predictor, a new empirical likelihood ratio test statistic is proposed to test the null hypothesis of no change. The proposed method is a non-parametric method which releases the assumption of the error distribution. Under the null hypothesis of no change, the proposed test statistic is shown empirically Gumbel distributed with robust location and scale parameters under various parameter settings and error...
Show moreFor a segmented regression system with an unknown change-point over two domains of a predictor, a new empirical likelihood ratio test statistic is proposed to test the null hypothesis of no change. The proposed method is a non-parametric method which releases the assumption of the error distribution. Under the null hypothesis of no change, the proposed test statistic is shown empirically Gumbel distributed with robust location and scale parameters under various parameter settings and error distributions. Under the alternative hypothesis with a change-point, the comparisons with two other methods (Chen's SIC method and Muggeo's SEG method) show that the proposed method performs better when the slope change is small. A power analysis is conducted to illustrate the performance of the test. The proposed method is also applied to analyze two real datasets: the plasma osmolality dataset and the gasoline price dataset.
Show less - Date Issued
- 2011
- PURL
- http://purl.flvc.org/FAU/3332719
- Subject Headings
- Change-point problems, Regression analysis, Econometrics, Limit theory (Probability theory)
- Format
- Document (PDF)
- Title
- Essays on investing.
- Creator
- Johnson, William Fount III, College of Business, Department of Finance
- Abstract/Description
-
The Market Timing - Buy and Hold (MT-BH) is introduced, tested against widely accepted performance models of market timing and tested if implamentation is possible. The MT-BH metric measures the condition of engaging in market timing strategies relative to buy and hold investing across an equity market. The metric provides an alternative explanation to why market timing results of investors and managers vary through time and across different equity markets. This dissertation examines how the...
Show moreThe Market Timing - Buy and Hold (MT-BH) is introduced, tested against widely accepted performance models of market timing and tested if implamentation is possible. The MT-BH metric measures the condition of engaging in market timing strategies relative to buy and hold investing across an equity market. The metric provides an alternative explanation to why market timing results of investors and managers vary through time and across different equity markets. This dissertation examines how the is correlated with traditional market timing measures of the Treynor and Sharpe ratios over the 1995-2010 time period and how it affects widely used measures of regression based market timing models of Treynor- Mazuy and Henriksson-Merton. The Market Timing - Buy and Hold (MT-BH) metric can be applied to any equity market over any time period to condition the market timing skill of money managers in any equity market around the world. The final accomplishment of this dissertation is to determine if readily available finance and macro-economic variables can help investors determine which years are more favorable to pursue market timing strategies and which years favor buy and hold investing. When real GDP growth rates, inflation rates and PE ratios were low or negative and when dividend yields were high, market timing strategies were favorable across 44 country market indexes from 1994-2008. These results were robust to country level of development, negative market return years and other control variables. The conditions for pursing market timing strategies were time variant and detectable with macro-economic and finance variables. The MT-BH metric allows investors and brokers to determine when to switch from buy and hold investing to a market timing strategy using macro-economic and financial variables and helps to explain why market timing skill of managers is rarely found to be persistent.
Show less - Date Issued
- 2011
- PURL
- http://purl.flvc.org/FAU/3183131
- Subject Headings
- Investment analysis, Stock options, Portfolio management, Finance, Personal, Asset allocation, Assets (Accounting), Prices, Forecasting, Econometric models
- Format
- Document (PDF)
- Title
- Consequences of real earnings management and corporate governance: evidence from cash holdings.
- Creator
- Greiner, Adam J., College of Business, School of Accounting
- Abstract/Description
-
I examine the impact of real earnings management (REM) and corporate governance on cash holdings. Extant research documents an increase in both cash holdings and REM activity in recent years and shows that agency conflicts influence both the levels and valuations of cash holdings. Motivated by agency problems of REM and Jensen's (1986) arguments concerning the free cash flow problem, I investigate whether opportunistic asset sales and reductions in discretionary expenditures are associated...
Show moreI examine the impact of real earnings management (REM) and corporate governance on cash holdings. Extant research documents an increase in both cash holdings and REM activity in recent years and shows that agency conflicts influence both the levels and valuations of cash holdings. Motivated by agency problems of REM and Jensen's (1986) arguments concerning the free cash flow problem, I investigate whether opportunistic asset sales and reductions in discretionary expenditures are associated with levels and valuations of cash holdings. Prior research also shows that strong corporate governance mitigates opportunistic earnings management behavior and enhances the valuation of cash holdings. Using empirical models from prior research, I document that REM is positively associated with cash holdings, investors discount cash holdings of high REM firms, and, among high REM firms, valuations of cash holdings of weak corporate governance firms are discounted significantly lower relative to those of strong corporate governance firms. My study unites two lines of research by incorporating agency problems concerning REM with levels and valuations of cash holdings.
Show less - Date Issued
- 2013
- PURL
- http://purl.flvc.org/fcla/dt/3360788
- Subject Headings
- Econometrics, Corporate governance, Corporations, Corrupt practices, Corporations, Finance, Accounting, Industrial management
- Format
- Document (PDF)
- Title
- Causality between stock prices and exchange rates: A case of the United States.
- Creator
- Ozair, Amber., Florida Atlantic University, Yuhn, Ky-hyang
- Abstract/Description
-
This thesis investigates the direction of causality as well as short-run dynamics and long-run equilibrium relationship between stock prices and exchange rates using quarterly data for the period 1960:1--2004:4. The studies apply techniques of the unit root, cointegration and Standard Granger causality tests to examine the relationship between these two financial variables. The empirical results reveal that there is no causal linkage and no cointegration between the stock prices and exchange...
Show moreThis thesis investigates the direction of causality as well as short-run dynamics and long-run equilibrium relationship between stock prices and exchange rates using quarterly data for the period 1960:1--2004:4. The studies apply techniques of the unit root, cointegration and Standard Granger causality tests to examine the relationship between these two financial variables. The empirical results reveal that there is no causal linkage and no cointegration between the stock prices and exchange rates as suggested under Traditional and Portfolio approaches. The results support the view that the semi-strong form of EMH holds true for the U.S. financial markets.
Show less - Date Issued
- 2006
- PURL
- http://purl.flvc.org/fcla/dt/13393
- Subject Headings
- Econometric models, Business forecasting--Mathematical models, Efficient market theory, Stock exchanges--Mathematical models
- Format
- Document (PDF)
- Title
- Analysis of government strategies to achieve industrial competitiveness: A comparative case study of Japan, South Korea, Taiwan and China.
- Creator
- Chang, Yanru, Florida Atlantic University, Washington, Charles W.
- Abstract/Description
-
The desire to understand the reasons behind high economic growth and increased manufacturing exports in East Asian countries has generated considerable debate and study of the strategies employed by East Asian governments. This study explores a general claim that there exists an Asian Model, typified by the Japanese government's strategy since the end of WWII to 1980, which has been followed by other East Asian governments to achieve remarkable economic performance. The Asian Model is...
Show moreThe desire to understand the reasons behind high economic growth and increased manufacturing exports in East Asian countries has generated considerable debate and study of the strategies employed by East Asian governments. This study explores a general claim that there exists an Asian Model, typified by the Japanese government's strategy since the end of WWII to 1980, which has been followed by other East Asian governments to achieve remarkable economic performance. The Asian Model is characterized by strategies to promote high savings, high investment, education, industrial targeting, exports, and protection of home markets and industries. This dissertation compares and contrasts government strategies adopted by Japan, South Korea, Taiwan and China. The Wheel-Spokes Model, developed by the author, is used as an analytical framework to conduct the comparative case study. It comprises six dimensions: industrial structure, investment, human resources, technology, market, and timing. This study reveals that there are similarities but significant differences in strategies adopted by these four governments to pursue national industrial competitiveness. The study also finds that there is no single Asian Model followed by the case-study governments. Each government's strategies were unique to select industries and support a certain industry structure, open or close markets to foreign capital, target the level of technology, prepare human resources, set up market protection, and choose strategic timing to build its industrial competitiveness. These differences reflect public policy preferences by the case governments, and they lead to a different industrial strength and level of competitiveness for each case country. The study recognizes the need for balance and consistency among the six major strategy areas represented by each dimension of the Wheel-Spokes Model in government strategy making. It makes recommendations for public policy initiatives and highlights the value of comparative studies in public policy and administration.
Show less - Date Issued
- 2001
- PURL
- http://purl.flvc.org/fcla/dt/11940
- Subject Headings
- Competition--Government policy--Econometric models, Industrial policy--Econometric models, Competition--Government policy--Japan, Competition--Government policy--Korea (South), Competition--Government policy--Taiwan, Competition--Government policy--China
- Format
- Document (PDF)
- Title
- Nonlinearity and entrepreneurship.
- Creator
- Pflaum, Blaine., Harriet L. Wilkes Honors College
- Abstract/Description
-
Entrepreneurship occupies a curious place in economic theory. On one hand, the importance of entrepreneurship is widely recognized, particularly as it pertains to economic growth. However, the entrepreneur lacks a broadly accepted economic theory, and suffers from a dearth of literature on the subject. We believe that this is due to economics' heavy reliance on linear mathematical theory. In this thesis, we use nonlinear mathematics to construct a model of the entrepreneur that captures the...
Show moreEntrepreneurship occupies a curious place in economic theory. On one hand, the importance of entrepreneurship is widely recognized, particularly as it pertains to economic growth. However, the entrepreneur lacks a broadly accepted economic theory, and suffers from a dearth of literature on the subject. We believe that this is due to economics' heavy reliance on linear mathematical theory. In this thesis, we use nonlinear mathematics to construct a model of the entrepreneur that captures the sudden destabilization of a steady state, the unpredictability of a creative action, the possibility of entrepreneurial failure, and sensitivity to small changes in environment.
Show less - Date Issued
- 2010
- PURL
- http://purl.flvc.org/FAU/3335458
- Subject Headings
- Economics, Mathematical, Nonlinear theories, Entrepreneurship, Mathematical models, New business enterprises, Econometric models, Statics and dynamics (Social sciences)
- Format
- Document (PDF)
- Title
- A genetic algorithm for non-constrained process and economic process optimization.
- Creator
- Chirdchid, Sangthen., Florida Atlantic University, Masory, Oren, Mazouz, Abdel Kader, College of Engineering and Computer Science, Department of Ocean and Mechanical Engineering
- Abstract/Description
-
Improving the quality of a product and manufacturing processes at a low cost is an economic and technological challenge which quality engineers and researches must contend with. In general, the quality of products and their cost are the main concerns for manufactures. This is because improving quality is very crucial for staying competitive and improving the organization's market position. However, some difficulty of finding where the standard of good quality is still remains. Customers'...
Show moreImproving the quality of a product and manufacturing processes at a low cost is an economic and technological challenge which quality engineers and researches must contend with. In general, the quality of products and their cost are the main concerns for manufactures. This is because improving quality is very crucial for staying competitive and improving the organization's market position. However, some difficulty of finding where the standard of good quality is still remains. Customers' satisfaction is a key for setting up the quality target. One possible solution is to develop control limits, which are the limits for indicating the area of nonconforming product on the basis of minimizing the total cost or loss to the customer as well as to the manufacturer. Therefore, the goal of this dissertation is to develop an effective tool to improve a high quality of product while maintaining a minimum cost.
Show less - Date Issued
- 2004
- PURL
- http://purl.flvc.org/fau/fd/FADT12081
- Subject Headings
- Genetic algorithms, Quality of products--Cost effectiveness--Econometric models, Multivariate analysis, Taguchi methods (Quality control)
- Format
- Document (PDF)
- Title
- Evaluating the Demand for Tax Professionals.
- Creator
- Rosenthal, Leigh, Higgs, Julia, Florida Atlantic University, College of Business, School of Accounting
- Abstract/Description
-
Taxpayers who hire tax professionals to assist with tax matters have a choice as to which type of tax professional to hire. This study looks at the choice between hiring a tax accountant or a tax attorney. Stephenson (2010) identifies four constructs that explain a taxpayer’s motivation to hire a tax professional—legal compliance, time savings, money savings, and a protection from/avoidance of the Internal Revenue Service. A taxpayer may be motivated by one or more of these demand constructs....
Show moreTaxpayers who hire tax professionals to assist with tax matters have a choice as to which type of tax professional to hire. This study looks at the choice between hiring a tax accountant or a tax attorney. Stephenson (2010) identifies four constructs that explain a taxpayer’s motivation to hire a tax professional—legal compliance, time savings, money savings, and a protection from/avoidance of the Internal Revenue Service. A taxpayer may be motivated by one or more of these demand constructs. Further, the context of the advice—whether given in a planning or compliance setting—may influence the choice of a specific type of practitioner. Taxpayers also perceive certain professional features of the practitioner as being associated with either an accountant or an attorney. In a 2 x 1 between subjects research design, I investigate these issues by exploring how the perceived characteristics of the accounting and legal professions and the tax context differentially influence the demand for one of these professionals. I hypothesize that taxpayers who demand a tax professional because of legal compliance or time savings are more likely to hire an accountant. Taxpayers who demand the services of a tax professional because of money savings or a protection from/avoidance of the Internal Revenue Service are more likely to hire an attorney. Additionally, I hypothesize that taxpayers in a planning context are more likely to hire an attorney while taxpayers in a compliance setting are more likely to hire an accountant. In a hierarchal regression, the variable for accuracy was significant in a simple regression of the four Stephenson constructs. In a second tier of the regression, accuracy was again significant as were certain covariates. In the final tier of the regression, no independent variable was significant but certain covariates were significant including client advocacy which was highly significant. The results do demonstrate that taxpayers perceive professional differences between a tax accountant and a tax attorney. Many of the results and the rationales underlying the hypotheses seem to be in the right direction as far as showing the expected demand for a specific tax professional.
Show less - Date Issued
- 2016
- PURL
- http://purl.flvc.org/fau/fd/FA00004792, http://purl.flvc.org/fau/fd/FA00004792
- Subject Headings
- Tax return preparation industry., Finance--Law and legislation., Econometrics., Accounting--Moral and ethical aspects., Accountants--Professional ethics., Tax consultants--Professional ethics.
- Format
- Document (PDF)
