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Title: WITHER ANNEXATION: THE CASE FOR DEERFIELD BEACH, FLORIDA.
Creator: PAPANDREAS, CHRISTINE., Florida Atlantic University, Nicholas, James C., College of Business, Department of Economics
Abstract/Description: This research was done under an internship program for Deerfield Beach, Florida. Costs of providing municipal services to land outside the city were projected as were revenues expected to accrue to the city. Projections were made both for the current level of development, and for that time when the land was developed at its ultimate holding capacity. Projections for the near future clearly showed that revenues would exceed costs for land which is currently developed. Costs would exceed...
Show moreThis research was done under an internship program for Deerfield Beach, Florida. Costs of providing municipal services to land outside the city were projected as were revenues expected to accrue to the city. Projections were made both for the current level of development, and for that time when the land was developed at its ultimate holding capacity. Projections for the near future clearly showed that revenues would exceed costs for land which is currently developed. Costs would exceed revenues if services were extended to undeveloped lands. Projections based on the ultimate holding capacity were less certain. For most of the land area, property tax revenues would yield revenues equal to about half of expected expenditures. Uncertainties prevented estimation of total revenues for the long run. The focus of this thesis was on direct, tangible costs and revenues. Intangible aspects were stated, but not evaluated.
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Date Issued: 1972
PURL: http://purl.flvc.org/fcla/dt/13514
Subject Headings: Economics, Finance
Format: Document (PDF)

Title: WHAT ARE THE RELATIONSHIPS BETWEEN SALES AND PRODUCTION IN THE COMPOSITE CAN AND TUBE INSTITUTE?.
Creator: SNIPES, WADE A., Florida Atlantic University, Sanford, Donald G., College of Business, Department of Management
Abstract/Description: This study was designed to determine what the areas of conflict were in the relationships between sales and production personnel in companies who are members of the Composite Can and Tube Institute. A questionnaire consisting of three parts was used to gather data. The first part consisted of thirty modified Likert Scale questions to measure the respondents' feelings toward items reflective of typical industrial situations. The second part incorporated the respondents' value rankings of...
Show moreThis study was designed to determine what the areas of conflict were in the relationships between sales and production personnel in companies who are members of the Composite Can and Tube Institute. A questionnaire consisting of three parts was used to gather data. The first part consisted of thirty modified Likert Scale questions to measure the respondents' feelings toward items reflective of typical industrial situations. The second part incorporated the respondents' value rankings of Rokeach-Clare-Sanford terminal and instrumental values and their perceived value rankings of relevant other people in their job environments. The third part involved certain demographic information about the respondents and that relationship to conflict areas. Chi-square and the Spearman Coefficient were used in analyzing the results.
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Date Issued: 1981
PURL: http://purl.flvc.org/fcla/dt/14053
Subject Headings: Business Administration, General
Format: Document (PDF)

Title: Welfare effects of the 1986 Lumber Agreement between the United States and Canada.
Creator: Moore, Alexandra E., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description: The problem of restrictions on trade is the basis of this paper. More specifically, the implications of the U.S.-Canadian Lumber Agreement are outlined in the Introduction. Chapter II offers a history of modern international trade theory as well as current trade theories. The next chapter further dissects a particular theory; the effects of trade-restriction reduction. In Chapter IV a model of the Canadian export tariff as proposed in the 1986 Agreement is explained as are empirical results...
Show moreThe problem of restrictions on trade is the basis of this paper. More specifically, the implications of the U.S.-Canadian Lumber Agreement are outlined in the Introduction. Chapter II offers a history of modern international trade theory as well as current trade theories. The next chapter further dissects a particular theory; the effects of trade-restriction reduction. In Chapter IV a model of the Canadian export tariff as proposed in the 1986 Agreement is explained as are empirical results and their effects on the U.S. economy.
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Date Issued: 1990
PURL: http://purl.flvc.org/fcla/dt/14580
Subject Headings: Lumber trade--United States, Lumber trade--Canada
Format: Document (PDF)

Title: THE USE OF CERTAINTY EQUIVALENCE FOR LOCATION AND ECONOMIC GROWTH DECISIONS.
Creator: WONSETLER, ELIZABETH ANN., Florida Atlantic University, Scheidell, John M., College of Business, Department of Economics
Abstract/Description: This study was prepared to analyze the use of the first-period certainty equivalence procedure in location decisions. Certainty equivalence is a mathematical technique which explicitly incorporates probablistic uncertainty in the decision making process. The feasible location of an international jetport which would service the South Florida region is used to illustrate this decision making technique.
Date Issued: 1972
PURL: http://purl.flvc.org/fcla/dt/13473
Subject Headings: Decision-making--Mathematical models, Uncertainty (Information theory)
Format: Document (PDF)

Title: Understanding in healthcare professional involvement in patient internet use.
Creator: Morton, Neil., College of Business, Information Technology and Operations Management
Abstract/Description: Use of the Internet can increase patients' understanding about their medical conditions and offers opportunities to strengthen the patient-physician relationship, increase patient satisfaction, and improve health outcomes. However, physicians vary widely in the extent to which they accept patient online medical information seeking and make it part of the patient-physician relationship. This paper explores factors impacting the extent to which physicians advocate (encourage, speak in favor, or...
Show moreUse of the Internet can increase patients' understanding about their medical conditions and offers opportunities to strengthen the patient-physician relationship, increase patient satisfaction, and improve health outcomes. However, physicians vary widely in the extent to which they accept patient online medical information seeking and make it part of the patient-physician relationship. This paper explores factors impacting the extent to which physicians advocate (encourage, speak in favor, or are supportive of) patient internet use. Specifically, using social cognitive theory as a theoretical base, this study develops a model of the determinants of physician advocation of patient use of the internet for information about medical conditions and treatments. Survey data collected from a random sample of 179 physicians licensed to practice medicine in Florida is used to test the proposed model. Proxy efficacy for patient internet use, social efficacy for enlisting patient internet use, performance outcomes expectations, and personal outcome expectations are shown to be significant determinants of physician professional advocation of patient internet use. In addition to its direct impact, proxy efficacy is shown to influence intention to advocate patient internet use indirectly thru social efficacy and outcome expectations, demonstrating the key role of this construct in the proxy agency model. Self-efficacy, in contrast, is not found to be a significant factor. Overall, the results support the proposed model of technology use.
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Date Issued: 2009
PURL: http://purl.flvc.org/FAU/215294
Subject Headings: Communication in medicine, Physician and patient, Medical informatics, Health in mass media, Evidence-based medicine
Format: Document (PDF)

Title: A TWO-SECTOR GROWTH MODEL OF THE UNITED STATES ECONOMY.
Creator: POSLUSNY, CHESTER, JR., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description: This work includes a survey of the literature of growth theory with emphasis on the two-sector Neoclassical model. A two-sector model of the U. S. economy with disembodied Harrod neutral technological change is estimated and simulated. Stability and the role of price mechanism is pointed out. The results of the estimation do not seem to support the significance of the disaggregation of the data into the two sectors. A clear advantage of the model, however, lies in the efficient disequilibrium...
Show moreThis work includes a survey of the literature of growth theory with emphasis on the two-sector Neoclassical model. A two-sector model of the U. S. economy with disembodied Harrod neutral technological change is estimated and simulated. Stability and the role of price mechanism is pointed out. The results of the estimation do not seem to support the significance of the disaggregation of the data into the two sectors. A clear advantage of the model, however, lies in the efficient disequilibrium adjustment mechanism.
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Date Issued: 1974
PURL: http://purl.flvc.org/fcla/dt/13653
Subject Headings: Economics, General
Format: Document (PDF)

Title: Two models of international country segmentation.
Creator: Budeva, Desislava G., College of Business, Department of Management
Abstract/Description: The growth of global competition has established international segmentation as a key issue in developing, positioning and selling products throughout the world (Ter Hofstede, Steenkamp and Wedel 1999). Many international segmentation studies have used macro-level, secondary data to identify country clusters based on similarities in political, economic, geographic or cultural variables. As a result of extensive review, we identify three major gaps in the international country segmentation...
Show moreThe growth of global competition has established international segmentation as a key issue in developing, positioning and selling products throughout the world (Ter Hofstede, Steenkamp and Wedel 1999). Many international segmentation studies have used macro-level, secondary data to identify country clusters based on similarities in political, economic, geographic or cultural variables. As a result of extensive review, we identify three major gaps in the international country segmentation literature. First, no study so far has accounted for the influence of time. While researchers suggest that longitudinal analysis provides additional insight into whether situational characteristics of countries change over time (Cavusgil, Kiyak, and Yeniyurt 2004; Helsen, Jedidi, and DeSarbo 1993; Sethi 1971; Steenkamp and Hofstede 2002,), a major limitation of this body of work is that most studies address country-level segmentation at a single point in time. However, bases of segmentation are considered to be dynamic in nature (Hassan, Craft, and Kortam 2003) and global and country-specific changes in economic development are likely to result in variations in segment membership over time. We investigate the stability of factors and the stability of segments over time by performing cluster analysis at two points of time. Second, most studies use ad hoc variables without theoretical basis which may result in accidental generalizations. Instead of suggesting a proliferation of random variables, which are considered influential in the decision making process without any empirical or theoretical evidence, we propose a theoretical basis for country segmentation. We use institutional theory to distinguish between heterogeneous groups of countries. Finally, there is the issue of providing "one size fits all" solutions., In other words, existing models offer general results of country clusters meant to be useful for all firms regardless of the product they offer or the industry they belong to. Our model based on institutional theory is used to investigate whether the influence of the host-country environment changes depending on the product that is concerned.
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Date Issued: 2009
PURL: http://purl.flvc.org/FAU/210364
Subject Headings: International business enterprises, Management, Entrepreneurship, Sustainable development, Comparative management, Globalization, Economic aspects
Format: Document (PDF)

Title: TWO ESSAYS ON PEER EFFECTS AND DIVERSITY WITHIN THE BOARDROOM.
Creator: Damm, Jason, Javakhadze, David, Florida Atlantic University, Department of Finance, College of Business
Abstract/Description: In this manuscript, I present two essays which examine the role of diversity within the corporate boardroom. The first essay determines that board compensation practices at competing firms influence the remuneration arrangements of directors. Consistent with the observational learning perspective, directors mimic the behavior of peer firms in setting their own compensation, but that diversity, in the form of gender, race/ethnicity, education, and experience moderates this relationship....
Show moreIn this manuscript, I present two essays which examine the role of diversity within the corporate boardroom. The first essay determines that board compensation practices at competing firms influence the remuneration arrangements of directors. Consistent with the observational learning perspective, directors mimic the behavior of peer firms in setting their own compensation, but that diversity, in the form of gender, race/ethnicity, education, and experience moderates this relationship. Diversity also leads to better board performance measured through its impact on excess CEO compensation and CEO turnover sensitivity. In the second essay, I document the presence of peer influence in diversity hires. As firms within an industry hire more women and minority directors, others will do the same. This type of herding behavior has both positive and negative outcomes. Firm stock and operating performance is worse in the years after a peer-driven diversity hire, yet board performance is better. I conclude that peer-driven decisions may be suboptimal, but that diversity can promote better governance in the boardroom.
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Date Issued: 2022
PURL: http://purl.flvc.org/fau/fd/FA00013907
Subject Headings: Boards of directors, Executives--Salaries, etc, Diversity
Format: Document (PDF)

Title: Two Essays on Mutual Funds Herding and the Information Content of Their Trades.
Creator: Carrete Rodriguez, Angel Francisco, Agapova, Anna, Florida Atlantic University, College of Business, Department of Finance
Abstract/Description: Information asymmetry literature has developed models that explain the relation between uninformed traders and informed traders. In general, these models have shown that first, information asymmetry is a driving force for investor buying and selling behavior. Second, the trades of informed investors reveal some of the information they possess suggesting that the trades of informed investors are informative to market makers. Third, when information about a stock enters the market, the...
Show moreInformation asymmetry literature has developed models that explain the relation between uninformed traders and informed traders. In general, these models have shown that first, information asymmetry is a driving force for investor buying and selling behavior. Second, the trades of informed investors reveal some of the information they possess suggesting that the trades of informed investors are informative to market makers. Third, when information about a stock enters the market, the characteristics of the firm can change, e.g., a better information environment reduces the cost of capital (Admati, 1985; Easley and O‟Hara, 2004; Wang, 1993). In this study, I apply information asymmetry theory to explore the trading behavior of active equity mutual fund managers and their role as facilitators of information. In the first essay, I study the information environment of firms mutual funds choose to add to their holdings and how it changes after the inclusion. I identify all new additions to the mutual fund holdings universe from 2002 to 2015 and compare them to the available universe of firms not yet owned by mutual funds. I find that active equity mutual fund managers behave as informed investors and prefer to buy stocks with more opaque information environments i.e., firms with larger spreads, lower trading volume, smaller firms with more growth opportunities, and firms that tend to use more accruals. Fund managers also show a preference for firms that have less analyst following, those in which analysts are less likely to agree on their EPS estimates, and firms in which analysts are more likely to err in their predictions. In other words, mutual fund managers prefer firms that are more likely to be mispriced. Once the funds include the firms, I document a strong improvement in their information environment. Firms attract more analyst coverage, reduce its use of accruals, produce more guidance, increase their market cap, and show increased turnover. The second essay focuses on the herding behavior of mutual funds. The study is the first to document the herding of mutual fund managers after creation of toehold positions by portfolio managers. I use a hand-collected dataset consisting of all toehold acquisitions reported to the SEC from 1995 to 2015 to document a strong herding reaction of active equity mutual funds after toehold announcements. This herding reaction is several times stronger than other mutual fund herding events reported by previous literature. I also document that the strength of the herding reaction varies depending on the identity of the filer or the characteristics of the firm acquired. The herding reaction is stronger for toehold announcements of firms with a smaller market capitalization, better growth opportunities, and those that are more illiquid. I also find that the herding reaction is weaker after the filings of hedge fund managers. My results support the informational herding cascade hypothesis.
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Date Issued: 2018
PURL: http://purl.flvc.org/fau/fd/FA00013127
Subject Headings: Information asymmetry, Mutual funds, Herding
Format: Document (PDF)

Title: Two Essays on Media Connections and Corporate Finance Policies.
Creator: Hossain, Md Miran, Javakhadze, David, Florida Atlantic University, College of Business, Department of Finance
Abstract/Description: The study examines the effects of executives’ media connection on corporate policies. Extant literature in finance, economics and journalism provide inconclusive evidence in determining whether media works as watchdog to the financial market or whether media facilitates bias through manipulation of corporate news events. I introduce two competing hypotheses that may explain the research question. Information Efficiency Hypothesis predicts that media connected firms mitigate information...
Show moreThe study examines the effects of executives’ media connection on corporate policies. Extant literature in finance, economics and journalism provide inconclusive evidence in determining whether media works as watchdog to the financial market or whether media facilitates bias through manipulation of corporate news events. I introduce two competing hypotheses that may explain the research question. Information Efficiency Hypothesis predicts that media connected firms mitigate information asymmetry among its investors, enjoy better governance, and are less likely to manipulate information on corporate policy choices. Manipulation Hypothesis, in contrary, suggests that firms may strategically utilize media connections to alter the information flow that may paint a tainted picture of the firm’s prospects, thereby facilitating greater misvaluation and devising of opportunistic corporate finance policies. I test these hypotheses on a set of investment policies (mergers outcomes and innovative efficiency) and financing policies (seasoned equity offerings and share repurchases). In the first essay, I find that media connection increases merger announcement return, reduces takeover premium, increases the likelihood of deal completion, although post-merger long term performance exhibit inconclusive results. Also, media connection reduces innovative efficiency and change in innovative efficiency attributable to media connections is harmful for the firm in the long run. Overall, results are consistent with the manipulation hypothesis to some extent though further investigation is required before disregarding the information efficiency effect. In the second essay, results show that media connection increases the likelihood of an SEO event, reduces the announcement period CAR. However, analysis of post SEO long term operating and stock performance show mixed results. For repurchasing firms, media connection increases announcement returns, increases the likelihood of repurchase and the amount repurchased. Media connection also increases the likelihood that repurchase is preferred over dividends as a mode of payout. Post repurchase long term operating and stock performance, however, provide inconsistent results. In general, results are consistent with the manipulation hypothesis though information efficiency hypothesis could not be ruled out entirely.
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Date Issued: 2018
PURL: http://purl.flvc.org/fau/fd/FA00013070
Subject Headings: Corporations--Finance., Mass media and business., Corporations--Public relations.
Format: Document (PDF)

Title: TWO ESSAYS ON FINANCIAL REPORTING QUALITY: EXAMINING MANAGERIAL PLACE ATTACHMENT AND CREDIT ACCESS.
Creator: Frost, Tracie Sloop, Kohlbeck, Mark, Florida Atlantic University, School of Accounting, College of Business
Abstract/Description: In essay 1, I investigate the association of place attachment and financial reporting quality. Management characteristics affect a wide range of corporate decisions, including decisions affecting financial reporting quality; however, the influence of managerial place attachment on corporate decision-making has received relatively little attention - even though place attachment is thought to play a significant role in forming individual identity. Place attachment affects the decisions that...
Show moreIn essay 1, I investigate the association of place attachment and financial reporting quality. Management characteristics affect a wide range of corporate decisions, including decisions affecting financial reporting quality; however, the influence of managerial place attachment on corporate decision-making has received relatively little attention - even though place attachment is thought to play a significant role in forming individual identity. Place attachment affects the decisions that individuals make with regards to social and environmental policies, lifestyle, and, in the corporate context, firmlevel policies. Because firms hire local CEOs and CFOs five to eight times more often than expected if geography were irrelevant to the matching process, the question of how managerial place attachment affects financial reporting outcomes is an important one. I investigate the effect of managerial place attachment on financial reporting quality in a sample of publicly traded U.S. firms. My findings indicate that firms with place attached CEOs display higher financial reporting quality, indicating a significant caretaking bond between CEO and stakeholders. CFOs, on the other hand, are marginally associated with lower financial reporting quality, indicating that they are more likely than CEOs to extract personal gain when they are local to their firm headquarters.
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Date Issued: 2020
PURL: http://purl.flvc.org/fau/fd/FA00013442
Subject Headings: Financial statements, Management, Chief executive officers, Chief financial officers, Place attachment
Format: Document (PDF)

Title: Two Essays on An Examination of Life Cycle Effects and Firm Policies.
Creator: Danso, Charles K. A., Garcia-Feijoo, Luis, Pennathur, Anita K., Florida Atlantic University, College of Business, Department of Finance
Abstract/Description: In Essay 1, I investigate the impact of corporate life cycle dynamics on the observed negative association between asset growth and stock returns in the crosssection. I find that the asset growth effect on average exists across some life cycle stages measured using cohorts. However, controlling for certain variables associated with the theoretical explanations, I find there is no relation between asset growth and returns. I argue this evidence is consistent with an agency-based explanation of...
Show moreIn Essay 1, I investigate the impact of corporate life cycle dynamics on the observed negative association between asset growth and stock returns in the crosssection. I find that the asset growth effect on average exists across some life cycle stages measured using cohorts. However, controlling for certain variables associated with the theoretical explanations, I find there is no relation between asset growth and returns. I argue this evidence is consistent with an agency-based explanation of the asset growth effect. Furthermore, a decomposition of the drivers of the effect shows that different components of assets (i.e. working capital and financing) drive asset growth effect at different life cycle stages. From a decomposition analyses, results show that in the youngest firms (cohort 1), asset growth effect is mostly driven by both operating liability and stock financing on one side (financing) and noncash current assets, PPE, and growth in other assets (for working capital) while cohort 3’s drivers appear to be stock issuances, together with noncash current assets, which I conclude offer further support for agency issues. In Essay 2, I examine how firms’ life cycle affect insider trading behavior, profits surrounding trades, price informativeness, and financing constraints. I argue that if firms’ policies and characteristics change over time as shown in lifecycle literature, then from firm characteristics that motivate insider-trading behavior, one should observe some differences across varying life cycle stages measured using age cohorts. I find that insiders are net sellers at all life cycle stages of a firm. Furthermore, insiders tend to trade more in younger firms than in older firms even though they have fewer numbers of insiders trading. Trading characteristics are generally statistically significant across cohorts. Overall, insiders appear to predict the correct direction for positive wealth generation when trading. Specifically, at all lifecycle stages, they appear to sell before negative CARs, and buy during periods associated with negative CARs that lead to positive CARs days after insider transactions. The findings on price informativeness suggest that in general insider purchases enhance price informativeness for firms at different lifecycle stages, however, this finding holds only for cohort 4 (oldest firms) in the case of insider sales. The implication of this finding is that regulation should be more lax towards purchases as compared to sales for firms, except for sales in firms that are older. Lastly, insider trades are linked with positive investment-cash flow sensitivities for both insider purchases and insider sales, which generally increase monotonically across cohorts. This finding is robust to using GMM approach.
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Date Issued: 2018
PURL: http://purl.flvc.org/fau/fd/FA00013057
Subject Headings: Corporations--Growth., Stocks--Rate of return., Insider trading in securities.
Format: Document (PDF)

Title: TIME SERIES ANALYSIS OF INFLATION AND UNEMPLOYMENT 1948 - 1981.
Creator: MORIARTY, PATRICK JAMES., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description: This thesis is a study of time series modeling techniques applied to the relationship between the rate of inflation and unemployment. The data used in this study are quarterly for the United States from 1948 - 1981. The study begins by reviewing the major theories of inflation and unemployment. Univariate stochastic time series methods are introduced and applied to the above-mentioned relationship. Multivariate stochastic time series methods are then fit to a series of related variables to...
Show moreThis thesis is a study of time series modeling techniques applied to the relationship between the rate of inflation and unemployment. The data used in this study are quarterly for the United States from 1948 - 1981. The study begins by reviewing the major theories of inflation and unemployment. Univariate stochastic time series methods are introduced and applied to the above-mentioned relationship. Multivariate stochastic time series methods are then fit to a series of related variables to investigate the validity of the lag structures employed on the relationship between inflation and unemployment.
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Date Issued: 1982
PURL: http://purl.flvc.org/fcla/dt/14114
Subject Headings: Unemployment--United States--Effect of inflation on, Time-series analysis
Format: Document (PDF)

Title: TIME SERIES ANALYSIS OF INCOME AND CONSUMPTION.
Creator: THEALL, GEORGE ALBERT., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description: This thesis uses time series analysis to construct models of income and consumption in the United States between 1947 and 1983. The data are quarterly observations on three measures of income and two of consumption. The study begins with a survey of univariate and multivariate model building techniques. With the life cycle - permanent income hypothesis as a foundation, theoretical models of income and consumption are discussed. These models are then fit to the data and examined. Tests for...
Show moreThis thesis uses time series analysis to construct models of income and consumption in the United States between 1947 and 1983. The data are quarterly observations on three measures of income and two of consumption. The study begins with a survey of univariate and multivariate model building techniques. With the life cycle - permanent income hypothesis as a foundation, theoretical models of income and consumption are discussed. These models are then fit to the data and examined. Tests for causality are also covered in order to determine the manner in which the two processes are related in a multivariate model.
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Date Issued: 1983
PURL: http://purl.flvc.org/fcla/dt/14184
Subject Headings: Income--United States, Consumption (Economics)--United States, Time-series analysis
Format: Document (PDF)

Title: Three essays on the impact of analyst recommendations in the banking industry.
Creator: Premti, Arjan, Madura, Jeff, Florida Atlantic University, College of Business, Department of Finance
Abstract/Description: By analyzing the information provided by analyst recommendations in the banking industry, I find that analyst recommendations trigger an immediate impact on the value of banks (Essay 1), they profitably guide the investment decisions of investors for periods of up to three months (Essay 2), and they also have an immediate impact on the values of rival banks (Essay 3). In addition, I find that analysts’ ability to provide new information depends on the information environment of the bank. The...
Show moreBy analyzing the information provided by analyst recommendations in the banking industry, I find that analyst recommendations trigger an immediate impact on the value of banks (Essay 1), they profitably guide the investment decisions of investors for periods of up to three months (Essay 2), and they also have an immediate impact on the values of rival banks (Essay 3). In addition, I find that analysts’ ability to provide new information depends on the information environment of the bank. The degree of information asymmetry, the degree of complexity, the risk of the bank, the risk of the time period, as well as regulatory reforms that affect these characteristics, have a significant impact on the analyst’s ability to provide new information to the investors. Specifically, I find that analyst recommendations are more informative when banks suffer from a high degree of information asymmetry. In addition, regulatory reforms that reduced the information asymmetry of the banking industry also diminished the analyst’s ability to provide new information. Similarly, I find that analyst recommendations have a greater impact on the values of the rated and the rival banks when these banks operate in a risky environment. This result is robust to several measures of bank risk, period risk, and regulatory events that affected the risk of the banking industry. However, the results of Essay 2 show that positive recommendations that occur during riskier periods or after regulatory events that increased the risk of the banking industry result in lower value for the investors over the following 1-month or 3- month periods. Lastly, I find that as banks become more complex, analyst recommendations have a smaller immediate impact on the value of the bank, deliver a smaller investment value for the investors, and also have a smaller immediate impact on the value of the rival banks.
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Date Issued: 2014
PURL: http://purl.flvc.org/fau/fd/FA00004151, http://purl.flvc.org/fau/fd/FA00004151
Subject Headings: Financial engineering, Investment analysis, Portfolio management, Risk management
Format: Document (PDF)

Title: Three essays on competitive acquisition bids.
Creator: Glambosky, Mina C., College of Business, Department of Finance
Abstract/Description: Many factors contribute to the outcome of an acquisition; these factors arise from both the objective of the target and acquirer. This dissertation focuses on how the bidding strategy, acquirer and target characteristics impact the transaction. The first essay examines how the timing and size of the acquirer's bid for a U.S. target firm impacts their return. I find that successful first and low bid acquirers experience significantly larger returns than successful secondary and non-low bid...
Show moreMany factors contribute to the outcome of an acquisition; these factors arise from both the objective of the target and acquirer. This dissertation focuses on how the bidding strategy, acquirer and target characteristics impact the transaction. The first essay examines how the timing and size of the acquirer's bid for a U.S. target firm impacts their return. I find that successful first and low bid acquirers experience significantly larger returns than successful secondary and non-low bid acquirers. The cross-sectional analysis determines that higher levels of target institutional ownership and acquisitions completed prior to the passage of Sarbanes-Oxley result in reduced returns to the acquirer. In addition, the likelihood of a successful first bid acquirer increases with a revised bid and when the acquirer is both the first and low bid acquirer simultaneously. The likelihood of a successful first bid acquirer decreases as the number of bidders increases and as the bidding process lengthens. I also find that the likelihood of a successful low bid acquirer increases the longer the bidding process. The second essay examines how the timing and size of the acquirer's bid for an international target impacts their return. I find that successful first and low bid acquirers experience insignificant abnormal returns following the acquisition announcement. In addition, the likelihood of a successful first bid acquirer increases when the acquirer and target have similar cultures, with higher levels of target government corruption and when the acquirer is both the first and low bid acquirer simultaneously. The likelihood of a successful low bid acquirer decreases with higher levels of target government corruption. I also examine what factors affect the target premium and find that larger transactions and successful first bid acquirers increase the target premium., Conversely, similar cultures and higher levels of government corruption, rule of law, bureaucracy, expropriation and ethnic tension decrease the premium to the target. Lastly, successful first and low bid acquirers experience statistically larger long run abnormal returns than successful secondary and non-low bid acquirers. The third essay examines how a stake accumulation by a conflicted blockholder influences the target's return. I find that targets experience positive cumulative abnormal returns upon the announcement of the Family, ESOP, Management and High Profile Investor stake accumulation. The cross-sectional analysis determines that privately negotiated transactions reduce the return to the target and that higher levels of stake accumulation are positively related to the target's return. Finally, targets experience negative abnormal long run returns following all four types of stake accumulation.
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Date Issued: 2009
PURL: http://purl.flvc.org/FAU/228768
Subject Headings: Consolidation and merger of corporations, Industrial management, Negotiation in business, Strategic planning
Format: Document (PDF)

Title: THREE ESSAYS ON CEO-BOARD SOCIAL CONNECTIONS AND CORPORATE POLICIES: AN INTERNATIONAL PERSPECTIVE.
Creator: Bhuyan, Md Nazmul Hasan, Javakhadze, David, Florida Atlantic University, Department of Finance, College of Business
Abstract/Description: The proposed study examines the effect of CEO-board social connections on corporate policies. Motivated by the independent board view and collaborative board view, I propose two opposing hypotheses explaining the effect of CEO-board connections on corporate policies: monitoring hypothesis and advising hypothesis. In my first essay, I validate the two competing hypotheses of CEO-board connections by investigating the effect of CEO-board connections on monitoring and advising role of the board,...
Show moreThe proposed study examines the effect of CEO-board social connections on corporate policies. Motivated by the independent board view and collaborative board view, I propose two opposing hypotheses explaining the effect of CEO-board connections on corporate policies: monitoring hypothesis and advising hypothesis. In my first essay, I validate the two competing hypotheses of CEO-board connections by investigating the effect of CEO-board connections on monitoring and advising role of the board, and firm valuation. I find that CEO-board connections have a negative effect on board monitoring and positive effect on board advising and firm valuation. The results are robust to endogeneity concerns and different model specifications. Disentangling the Channels, I also show that the predicted effect of CEO-board connections on board monitoring and advising have opposite effects on firm valuation. Lastly, I provide evidence that the effect of CEO-board connections on firm performance is stronger in firms with high growth opportunities.
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Date Issued: 2020
PURL: http://purl.flvc.org/fau/fd/FA00013515
Subject Headings: Chief executive officers, Boards of directors, International perspectives
Format: Document (PDF)

Title: THERE IS NO “I” IN TEAM: IMPACTS OF SURGICAL TEAM DYNAMICS ON OPERATIONAL PERFORMANCE AND CLINICAL OUTCOMES.
Creator: Hasse, Christopher H., Behara, Ravi S., Florida Atlantic University, Department of Information Technology and Operations Management, College of Business
Abstract/Description: While the complexities and challenges facing healthcare continue to grow, the focus on improving surgical practices remains constant. Possessing a strong influence over patient referral patterns, public reputation/prominence, and financial performance, surgical practices command heightened attention on operational performance and clinical outcomes. Executive leadership cannot support (nor improve) a surgical practice without comprehending the importance of team dynamics in the operating room ...
Show moreWhile the complexities and challenges facing healthcare continue to grow, the focus on improving surgical practices remains constant. Possessing a strong influence over patient referral patterns, public reputation/prominence, and financial performance, surgical practices command heightened attention on operational performance and clinical outcomes. Executive leadership cannot support (nor improve) a surgical practice without comprehending the importance of team dynamics in the operating room (OR) environment. Previous literature offers mixed and incomplete results on themes of team familiarity and OR efficiency, frequently citing handoffs, late starts, and task disruptions as catalysts for negative performance. Studies routinely use historical interaction counts to measure team familiarity, which often neglect the degree of participation (engagement) across prior experiences. Similarly, counts of handoffs or individuals entering an OR do not offer an accurate assessment of team performance. Guided by historical studies, four hypotheses are presented and argue that enhancing surgical team dynamics yield favorable improvements for operational performance and clinical outcomes. Utilizing data from 9,049 neurologic surgery cases performed at two separate campuses (belonging to the same organization) over a three-year timeframe (March 2019 to November 2021), this study measures surgical team dynamics in a highly complex setting through the lens of case continuity and surgeon familiarity to assess key outputs: case scheduling errors (proxy for operational performance) and post-operative complications within 30-days of surgery (proxy for clinical outcomes).
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Date Issued: 2023
PURL: http://purl.flvc.org/fau/fd/FA00014137
Subject Headings: Surgery, Operating room personnel, Healthcare management
Format: Document (PDF)

Title: A THEORETICAL AND EMPIRICAL ASSESSMENT OF ALTERNATIVE MONETARY CONTROL PROCEDURES IN THE UNITED STATES.
Creator: WHITE, MARILYN., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
Abstract/Description: This thesis theoretically and empirically analyzes the effectiveness of alternative monetary control procedures in the United States in recent years. The overall strategy of monetary policy is described and the implications of the federal funds rate and non-borrowed reserves targeting procedures for interest rate volatility and money demand stability are discussed. Tests of linear restrictions using dummy variable specifications as well as ex post forecasts suggest that there has been a...
Show moreThis thesis theoretically and empirically analyzes the effectiveness of alternative monetary control procedures in the United States in recent years. The overall strategy of monetary policy is described and the implications of the federal funds rate and non-borrowed reserves targeting procedures for interest rate volatility and money demand stability are discussed. Tests of linear restrictions using dummy variable specifications as well as ex post forecasts suggest that there has been a change in the interest elasticity as well as the intercept of the money demand function in 1979. The empirical specifications examined in this study use a partial-adjustment model and employ appropriate econometric techniques to obtain consistent and efficient coefficient estimates. Finally a reduced-form model of the money market is used to compare out-of-sample forecasts from alternative operating procedures.
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Date Issued: 1985
PURL: http://purl.flvc.org/fcla/dt/14238
Subject Headings: Monetary policy, Money--United States
Format: Document (PDF)

Title: A THEORETICAL AND EMPIRICAL ANALYSIS OF THE DETERMINANTS OF EURO-DOLLAR GROWTH.
Creator: KUTAN, ALI MUSTAFA., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
Abstract/Description: This thesis theoretically and empirically analyzes the determinants of Eurodollar expansion observed in recent years. The Euro-dollar market is first described in terms of its origin, development, geographical distribution and institutional structure and regulation. The size, sources and uses of the market are also illustrated. Alternative views and theories explaining Euro-dollar growth are discussed in detail. A single stock adjustment model is first used to obtain the determinants of Euro...
Show moreThis thesis theoretically and empirically analyzes the determinants of Eurodollar expansion observed in recent years. The Euro-dollar market is first described in terms of its origin, development, geographical distribution and institutional structure and regulation. The size, sources and uses of the market are also illustrated. Alternative views and theories explaining Euro-dollar growth are discussed in detail. A single stock adjustment model is first used to obtain the determinants of Euro-dollar interest rates. Reduced form equations are utilized to determine the factors for the equilibrium quantity of Euro-dollar deposits and equilibrium Euro-dollar interest rate. Finally, the proportion of Euro-dollar growth attributed to a multiplier expansion process as opposed to primary deposits is empirically estimated for the time period 1973 - 1981. Almon and Koyck lag structures are utilized to calculate the multiplier process associated with Eurodollar expansion during this period.
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Date Issued: 1985
PURL: http://purl.flvc.org/fcla/dt/14273
Subject Headings: Euro-dollar market--Analysis
Format: Document (PDF)

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