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Title: Special topics in financial intermediation.
Creator: Dempere, Juan M., Florida Atlantic University, Madura, Jeff
Abstract/Description: The dissertation consists of three research works about special topics of financial intermediation. The main goal of the first study is to determine the effect of some corporate governance-related variables on bank initial public offerings (IPOs). The testable hypotheses involve three dependent variables: abnormal offer price, initial return or underpricing, and long-term performance. The proposed independent variables have no explanatory power on the cross-sectional variation of the abnormal...
Show moreThe dissertation consists of three research works about special topics of financial intermediation. The main goal of the first study is to determine the effect of some corporate governance-related variables on bank initial public offerings (IPOs). The testable hypotheses involve three dependent variables: abnormal offer price, initial return or underpricing, and long-term performance. The proposed independent variables have no explanatory power on the cross-sectional variation of the abnormal offer price. The proportion of outside directors, the size of the bank, directors and officers' (D&O) equity based compensation plans, and the age of the bank, all have a positive relationship with the level of underpricing. The variables, nominating committee independence, directors' knowledge and experience, and directors' reputation, have the hypothesized positive relationship with the sample's long-run performance. The main goal of the second research work is the analysis of a sample of self-underwritten IPOs. The analysis includes the IPOs' underpricing; long-term performance; lockup and quiet period; risk; volume; and failure and acquisitions. The main result of this study is that here are no significant differences on the level of underpricing between self-underwritten IPOs and conventional IPOs underwritten by independent underwriters. The only significant result about the long-run performance of self-underwritten IPOs is on the subsample of nonpenny stocks, where the larger the firm the lower the long-run performance. The third research work focuses on going private transactions of financial institutions. This study includes the analysis of the cross-sectional differences of the cumulative abnormal returns (CARs) that result from the public announcement of a going private transaction proposal. Similarly, this study tests the long-run performance and the risk change of those firms that stay public after the withdrawal of a going private transaction. The main results suggest that public announcement of a going-private transaction produces positive CARs of about 15 percent. The public announcement of the withdrawal of a going-private transaction generates negative CARs between -4 percent and -5 percent. The total risk of the sample with respect to the matching group experiences a positive and significant increase after the public announcement of a going-private transaction proposal.
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Date Issued: 2005
PURL: http://purl.flvc.org/fcla/dt/12174
Subject Headings: Intermediation (Finance), Investments--Management, Risk management
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: CALCULATION AND COMPARISON OF THE FLOOD RISK POTENTIAL DUE TO RAINFALL EVENTS, HIGH TIDES, SEA LEVEL RISE, STORM SURGE AND THE COMBINATION OF ALL THE CASES ON THE EASTERN COAST OF FLORIDA.
Creator: Hoque, Mushfiqul S. M., Bloetscher, Frederick, Florida Atlantic University, Department of Civil, Environmental and Geomatics Engineering, College of Engineering and Computer Science
Abstract/Description: Coastal basins are particularly vulnerable to flood under multivariable conditions, such as heavy precipitation, high sea levels, tropical storm surge and rainstorms. These conditions should be considered to assess and manage flood risk better. In this research, a means to develop a watershed level screening tool to identify areas with potential for flooding due to high tides, rainfall events, sea level rise and combinations of all the cases was developed and compared to FEMA maps. The goal...
Show moreCoastal basins are particularly vulnerable to flood under multivariable conditions, such as heavy precipitation, high sea levels, tropical storm surge and rainstorms. These conditions should be considered to assess and manage flood risk better. In this research, a means to develop a watershed level screening tool to identify areas with potential for flooding due to high tides, rainfall events, sea level rise and combinations of all the cases was developed and compared to FEMA maps. The goal of the screening tool is part of a larger effort with respect to watersheds funded by the Florida Division of Emergency Management to enable local communities to reduce flood insurance costs through mitigation and resiliency efforts by means of risk assessment was undertaken. For this purpose, readily available data on topography, ground, and surface water elevations, tidal data for coastal communities, soils, and rainfall data were collected from the South Florida water management district, USGS, and NOAA. Firstly, using elevation data, soil data, and the Spatial Analyst tool, Arc-Hydro tools of ArcGIS, the drainage network, and soil storage capacity were determined. These results and rainfall data acted as inputs for Cascade to calculate the headwater height for all the cases for the selected basins. Using these headwater heights, several different probabilities of inundation were determined. This study will help manage and mitigate vulnerable areas and act as a tool to permit local agencies to develop means to address high-risk properties.
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Date Issued: 2021
PURL: http://purl.flvc.org/fau/fd/FA00013732
Subject Headings: Floods--Risk assessment, Floods--Florida, Floods--Risk management
Format: Document (PDF)

Title: Managerial reputation and Non-GAAP earnings disclosures.
Creator: Cheng, Yun, Kohlbeck, Mark, Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: I examine how managerial reputation affects the quality of non-GAAP earnings disclosures and how the market reacts to non-GAAP earnings disclosures associated with managerial reputation. Although there was an initial dip in the frequency of non-GAAP earnings disclosures after SOX and Regulation G, the frequency of non-GAAP earnings disclosures has increased in recent years (Brown, Christensen, Elliott and Mergenthaler 2012). Motivated by the efficient contracting theory and managerial...
Show moreI examine how managerial reputation affects the quality of non-GAAP earnings disclosures and how the market reacts to non-GAAP earnings disclosures associated with managerial reputation. Although there was an initial dip in the frequency of non-GAAP earnings disclosures after SOX and Regulation G, the frequency of non-GAAP earnings disclosures has increased in recent years (Brown, Christensen, Elliott and Mergenthaler 2012). Motivated by the efficient contracting theory and managerial reputation incentives, I investigate whether reputable managers are associated with higher quality non-GAAP earnings disclosures. I also investigate whether the market is more responsive to non-GAAP earnings disclosed by reputable managers. Using empirical models modified from prior research, I find that reputable managers are less likely to disclose non-GAAP earnings, which is consistent with the efficient contracting explanation. I also find that reputable managers exclude more recurring items that are related to future operating earnings when they disclose non-GAAP earnings, which is consistent with the rent extraction explanation in prior research. Finally, I find that managerial reputation has an incremental effect on the market reaction and that the market is more responsive to non-GAAP earnings disclosed by reputable managers if the unexpected earnings are positive. The study contributes to both non-GAAP earnings disclosures literature and managerial reputation incentives literature. It also has implications for investors, managers, and regulators.
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Date Issued: 2014
PURL: http://purl.flvc.org/fau/fd/FA00004185, http://purl.flvc.org/fau/fd/FA00004185
Subject Headings: Capital productivity -- Measurement, Disclosure in accounting, Industrial management, Investment analysis, Risk management
Format: Document (PDF)

Title: Maturity of IT risk management practices and reporting structure: an it manager perspective.
Creator: Vincent, Surani, Higgs, Julia, Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: In December 2009, the Securities Exchange Commission (SEC) approved enhanced proxy disclosure rules requiring companies to disclose the board’s leadership structure and the board’s role in risk oversight. Apart from general business risks, boards are increasingly interested in Information Technology (IT) risks as it affects all aspects of the organization (PricewaterhouseCoopers [PwC], 2013). Since the effectiveness of IT risk management depends on senior managers’ actions, this dissertation...
Show moreIn December 2009, the Securities Exchange Commission (SEC) approved enhanced proxy disclosure rules requiring companies to disclose the board’s leadership structure and the board’s role in risk oversight. Apart from general business risks, boards are increasingly interested in Information Technology (IT) risks as it affects all aspects of the organization (PricewaterhouseCoopers [PwC], 2013). Since the effectiveness of IT risk management depends on senior managers’ actions, this dissertation attempts to answer the question of whether the maturity of IT risk management practices (the extent to which management performs particular activities to identify, assess, monitor and respond to IT-related risks) in organizations depends on the Chief Information Office (CIO) reporting structure and the board’s leadership structure.
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Date Issued: 2014
PURL: http://purl.flvc.org/fau/fd/FA00004336, http://purl.flvc.org/fau/fd/FA00004336
Subject Headings: Corporate governance, Decision making, Information technology -- Management, Information technology -- Social aspects, Management information systems, Risk management, Strategic planning
Format: Document (PDF)

Title: Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market.
Creator: Sagul, Ryan, Yuhn, Ky-hyang, Florida Atlantic University, College of Business, Department of Economics
Abstract/Description: For the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to...
Show moreFor the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to informational efficiency. The results demonstrate continuously inefficient oil future markets which exhibit decreased informational efficiency during recessionary periods, advocating the adaptive market hypothesis over the efficient market hypothesis.
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Date Issued: 2016
PURL: http://purl.flvc.org/fau/fd/FA00004730, http://purl.flvc.org/fau/fd/FA00004730
Subject Headings: Capital market -- Psychological aspects, Energy industries -- Risk management, Financial risk management -- Mathematical models, Futures, Investment analysis, Petroleum industry and trade -- Economic aspects, Stocks -- Mathematical models
Format: Document (PDF)

Title: Agency costs and accounting quality within an all-equity setting: the role of free cash flows and growth opportunities.
Creator: Cabán, David, Kohlbeck, Mark, Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: I investigate if all-equity firms are a heterogeneous group as it relates to agency costs and accounting quality. All-equity firms are a unique group of firms that choose a “corner solution” as their capital structure. Extant research, supported by well-established theories such as trade-off theory, free cash flow theory, and Jensen’s (1986) control hypothesis, generally conclude that agency conflicts motivate such structure. Research also supports the alternative argument that poor...
Show moreI investigate if all-equity firms are a heterogeneous group as it relates to agency costs and accounting quality. All-equity firms are a unique group of firms that choose a “corner solution” as their capital structure. Extant research, supported by well-established theories such as trade-off theory, free cash flow theory, and Jensen’s (1986) control hypothesis, generally conclude that agency conflicts motivate such structure. Research also supports the alternative argument that poor accounting quality makes debt so prohibitive that such firms are driven to this capital structure. I propose that an all-equity structure is not necessarily symptomatic of agency conflicts and poor accounting quality overall. I investigate if different motivations, within an all-equity setting, reflected by free cash flows and growth opportunities, result in different levels of agency cost and accounting quality. By anchoring on theories that link implicit costs of debt to free cash flow levels and growth opportunities, I hypothesize that free cash flows and growth opportunities are strongly linked to the justification or lack thereof for the pursuit of such strategy. I hypothesize and show that firms in the extremes of the free cash flow to growth rate spectrum exhibit significantly different levels of agency cost and accounting quality within the all-equity setting. These results support my main prediction that there exists agency costs and accounting quality differences within the all-equity setting which are associated with free cash flow levels and growth opportunities and that the pessimistic conclusions for pursuing an all-equity strategy reached by prior research should not be generalized to all such firms.
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Date Issued: 2015
PURL: http://purl.flvc.org/fau/fd/FA00004432, http://purl.flvc.org/fau/fd/FA00004432
Subject Headings: Business enterprises -- Valuation, Cash management, Corporations -- Finance, Corporations -- Growth, Financial risk management, Strategic planning, Venture capital
Format: Document (PDF)

Title: Advanced methods in sea level rise vulnerability assessment.
Creator: Romah, Thomas., College of Engineering and Computer Science, Department of Civil, Environmental and Geomatics Engineering
Abstract/Description: Increasing sea levels have the potential to place important portions of the infrastructure we rely on every day at risk. The transportation infrastructure relies on roads, airports, and seaports to move people, services, and goods around in an ever connected global economy. Any disturbances of the transportation modes have reverberating effects throughout the entire economic spectrum. The effects include delays, alterations of routes, and possible changes in the origin and destinations of...
Show moreIncreasing sea levels have the potential to place important portions of the infrastructure we rely on every day at risk. The transportation infrastructure relies on roads, airports, and seaports to move people, services, and goods around in an ever connected global economy. Any disturbances of the transportation modes have reverberating effects throughout the entire economic spectrum. The effects include delays, alterations of routes, and possible changes in the origin and destinations of services and goods. The purpose of this project is to develop an improved methodology for a sea level rise scenario vulnerability assessment model. This new model uses the groundwater elevation as a limiting factor for soil storage capacity in determining previously underestimated areas of vulnerability. The hope is that early identification of vulnerability will allow planners and government officials an opportunity to identify and either remediate or create alternative solutions for vulnerable land areas before high consequence impacts are felt.
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Date Issued: 2012
PURL: http://purl.flvc.org/FAU/3358965
Subject Headings: Sea level, Environmental aspects, Coastal zone management, Sea level, Climactic factors, Climate change mitigation, Climatic changes, Risk management
Format: Document (PDF)

Title: Risk dynamics, growth options, and financial leverage: evidence from mergers and acquisitions.
Creator: Coy, Jeffrey M., College of Business, Department of Finance
Abstract/Description: In essay I, I empirically examine theoretical inferences of real options models regarding the effects of business risk on the pricing of firms engaged in corporate control transactions. This study shows that the risk differential between the merging firms has a significant effect on the risk dynamic of bidding firms around control transactions and that the at-announcement risk dynamic is negatively related to that in the preannouncement period. In addition, the relative size of the target,...
Show moreIn essay I, I empirically examine theoretical inferences of real options models regarding the effects of business risk on the pricing of firms engaged in corporate control transactions. This study shows that the risk differential between the merging firms has a significant effect on the risk dynamic of bidding firms around control transactions and that the at-announcement risk dynamic is negatively related to that in the preannouncement period. In addition, the relative size of the target, the volatility of bidder cash flows, and the relative growth rate of the bidder have significant explanatory power in the cross-section of announcement returns to bidding firm shareholders as does the change in the cost of capital resulting from the transaction. Essay II provides an empirical analysis of a second set of real options models that theoretically examine the dynamics of financial risk around control transactions as well as the link between financial leverage and the probability of acquisition. In addition, I present a comparison of the financial risk dynamics of firms that choose an external growth strategy, through acquisition, and those that pursue an internal growth strategy through capital expenditures that are unrelated to acquisition.
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Date Issued: 2013
PURL: http://purl.flvc.org/fcla/dt/3362323
Subject Headings: Consolidation and merger of corporations, Financial services industry, Mathematical models, Corporations, Finance, Financial risk management
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.
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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: STOCHASTIC METHODOLOGY TO QUANTIFY FLOOD-RISK FOR COASTAL AND INLAND AREAS.
Creator: Suarez, Eva L., Meeroff, Daniel E., Florida Atlantic University, Department of Civil, Environmental and Geomatics Engineering, College of Engineering and Computer Science
Abstract/Description: Current flood-risk models lack fidelity at the neighborhood level. The Federal Emergency Management Agency (FEMA) develops flood maps based on experts’ experience and estimates on the probability of flooding. First Street Foundation evaluates flood risk with regional and subjective measures, without impact from torrential rain and nuisance flooding. The purpose of this research is to develop a data-driven method to determine a comprehensive flood-risk that accounts for severe, moderate, and...
Show moreCurrent flood-risk models lack fidelity at the neighborhood level. The Federal Emergency Management Agency (FEMA) develops flood maps based on experts’ experience and estimates on the probability of flooding. First Street Foundation evaluates flood risk with regional and subjective measures, without impact from torrential rain and nuisance flooding. The purpose of this research is to develop a data-driven method to determine a comprehensive flood-risk that accounts for severe, moderate, and nuisance flood events at the single-family home level, while also estimating the recovery time from the specified flood event. The method developed uses the Failure Mode and Effect Analysis (FMEA) method from the American Society of Quality (ASQ) to determine the Consequence of Flooding (CoF), following the 1-day 100-yr storm for the Probability of Flooding (PoF). The product of CoF and PoF provides an estimate of the flood-risk. An estimated Resilience Index value derived from flood-risk, is used to determine the recovery time after a severe or moderate
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Date Issued: 2022
PURL: http://purl.flvc.org/fau/fd/FA00013945
Subject Headings: Floods--Risk assessment, United States. Federal Emergency Management Agency, Floods
Format: Document (PDF)

Title: DEVELOPMENT OF GIS-BASED ONLINE WATERSHED DASHBOARD FOR CHARLOTTE COUNTY, FLORIDA.
Creator: Zare, Saeid Naghadehi, Nagarajan, Sudhagar, Florida Atlantic University, Department of Civil, Environmental and Geomatics Engineering, College of Engineering and Computer Science
Abstract/Description: This thesis presents the development of an innovative Geographic Information System (GIS)-based Interactive Online Watershed Dashboard aimed at flood risk assessment and mitigation in Charlotte County, Florida. The research leverages advanced GIS techniques, including flood inundation simulations using CASCADE 2001, integrating LiDAR DEM data and GIS layers such as impervious surfaces, waterbodies, and soil characteristics to model flood behavior in 61 inundation probability scenarios. Key...
Show moreThis thesis presents the development of an innovative Geographic Information System (GIS)-based Interactive Online Watershed Dashboard aimed at flood risk assessment and mitigation in Charlotte County, Florida. The research leverages advanced GIS techniques, including flood inundation simulations using CASCADE 2001, integrating LiDAR DEM data and GIS layers such as impervious surfaces, waterbodies, and soil characteristics to model flood behavior in 61 inundation probability scenarios. Key results include detailed flood inundation probability maps categorizing risk levels based on Z-scores, providing actionable insights for flood risk management and emergency planning. Spatial analysis reveals demographic vulnerabilities, with population density and ethnic compositions intersecting flood vulnerability. The study assesses flood impacts on transportation infrastructure and prioritizes critical facilities for resilience strategies. The dashboard's design integrates diverse datasets and analytical results, allowing users to interactively explore flood risk scenarios, critical infrastructure vulnerabilities, and demographic impacts. This research contributes essential tools for informed decision-making, enhancing flood resilience and disaster preparedness in Charlotte County, Florida.
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Date Issued: 2024
PURL: http://purl.flvc.org/fau/fd/FA00014437
Subject Headings: Watersheds, Dashboards (Management information systems), Geographic information systems, Floods--Risk assessment
Format: Document (PDF)

Title: An examination of hurricane vulnerability of the U.S. northeast and mid-Atlantic region.
Creator: Prasad, Shivangi, Charles E. Schmidt College of Science, Department of Geosciences
Abstract/Description: Northeastern and mid-Atlantic United States are understudied from the perspective of hurricane vulnerability. In an attempt to fill this gap in research, this dissertation attempted to assess the hurricane vulnerability of the northeastern and mid- Atlantic United States through the construction of a Composite Hurricane Vulnerability Index (CHVI) for 184 counties extending from Maine to Virginia. The CHVI was computed by incorporating indicators of human vulnerability and physical exposure....
Show moreNortheastern and mid-Atlantic United States are understudied from the perspective of hurricane vulnerability. In an attempt to fill this gap in research, this dissertation attempted to assess the hurricane vulnerability of the northeastern and mid- Atlantic United States through the construction of a Composite Hurricane Vulnerability Index (CHVI) for 184 counties extending from Maine to Virginia. The CHVI was computed by incorporating indicators of human vulnerability and physical exposure. Human vulnerability was derived from demographic, social and economic characteristics whereas physical exposure was based on attributes of the natural and built up environments. The spatial distribution of the CHVI and its component indices were examined and analyzed to meet the research goals, which were a) to develop indices of human vulnerability, physical exposure and composite hurricane vulnerability for all counties; b) to assess vulnerability distribution in terms of population size, metropolitan status (metropolitan versus non metropolitan counties) and location (coastal versus inland counties); c) to identify the specific underlying causes of vulnerability; d) to identify the significant clusters and outliers of high vulnerability; and e) to examine overlaps between high human vulnerability and high physical exposure in the region. Results indicated high overall vulnerability for counties that were metropolitan and / or coastal. Vulnerability clusters and intersections pointed towards high vulnerability in the major cities along the northeastern megalopolis, in the Hampton Roads section of Virginia and in parts of Delmarva Peninsula. Evidence of relationship of population size, metropolitan status and location with vulnerability levels provides a new perspective to vulnerability assessment.
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Date Issued: 2013
PURL: http://purl.flvc.org/fcla/dt/3360969
Subject Headings: Hurricane protection, Regional planning, Emergency management, Natural disasters, Risk assessment, Geographic information systems
Format: Document (PDF)

Title: Public-private partnerships and questions in public procurement.
Creator: Williams, Adam, Miller, Hugh T., Florida Atlantic University, College for Design and Social Inquiry, School of Public Administration
Abstract/Description: This study explores the connections of public procurement official perceptions of public-private partnerships and their contracting decisions for public infrastructure projects. Detailed discussion of previous scholarship and its focus on policymaking and project evaluation of public-private partnerships leaves a gap in the public policy process – implementation. Procurement officials are presented in the role of policy implementers rather than agents in a principalagent approach. This...
Show moreThis study explores the connections of public procurement official perceptions of public-private partnerships and their contracting decisions for public infrastructure projects. Detailed discussion of previous scholarship and its focus on policymaking and project evaluation of public-private partnerships leaves a gap in the public policy process – implementation. Procurement officials are presented in the role of policy implementers rather than agents in a principalagent approach. This attempts to address a shortcoming of the description that these officials do nothing more than purchase. Arguments are put forth that these officials are given additional levels of discretion when faced with contracting decisions. Specifically, procurement officials observe that public-private partnerships provide sets of project consequences. A survey instrument is designed to explore the differences in perceptions that procurement officials have with respect to public-private partnerships and traditional contracting out. Survey failures result in findings only being able to attempt a more general view of public-private partnerships. Results allow perceptions to be placed in a decision-making model based on a project phase approach that develops on the assumption that tasks contracted to private vendors produce project consequences. Furthermore, analysis of significant consequence perceptions indicate that those perceptions do not provide a rationale for a procurement official’s decision-making on whether to contract using a public-private partnership for public infrastructure projects. Independent sample t-tests, controlled correlations, multiple ANOVA and linear regression analyses show that perceptions of consequences, the perceptions of differences of those consequences across project phases, relationships of consequences to perceptions of efficiency and effectiveness proxies and a bounded rationalitybased model of decision-making for procurement officials are all inconclusive. Discussion focuses on the development of consequences and phases as defining and clarifying public-private partnerships. Further discussions are presented for procurement officials with respect to their decision-making and possible role as policy implementers. Conclusions fail to uncover any inferential results. The research finds its primary contribution in the conceptual discourse of public procurement official roles and public-private partnership definitions.
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Date Issued: 2014
PURL: http://purl.flvc.org/fau/fd/FA00004236, http://purl.flvc.org/fau/fd/FA00004236
Subject Headings: Infrastructure (Economics) -- Finance, Public private sector cooperation -- Finance, Public private sector cooperation, Public works -- Finance, Risk management
Format: Document (PDF)

Title: FEMA Hazard Mitigation Plan for the FAU Satellite Campuses.
Creator: Harper, Daniel, Looby, Megan, Kaisar, Evangelos I.
Date Issued: 2012-04-06
PURL: http://purl.flvc.org/fcla/dt/3348824
Subject Headings: Hazard Mitigation Plan, United States. Federal Emergency Management Agency., Hazard Identification and Analysis, Vulnerability and Risk Assessment, Florida. Division of Emergency Management.
Format: Document (PDF)

Title: Economic Consequences of Implementing the Engagement Partner Signature Requirement in the UK.
Creator: Liu, Min, Kohlbeck, Mark, Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: I investigate the effects of requiring the audit engagement partner (EP) signature and individual EP’s quality on information asymmetry, analysts’ forecast errors and forecast dispersion. I predict and find that, ceteris paribus, there is a significant decline in information asymmetry, analysts’ forecast errors and forecast dispersion from the pre- to post-EP signature period in the UK over both of short-term (e.g., 2008-2010) and long-term (e.g., 2004-2014). These findings hold when using a...
Show moreI investigate the effects of requiring the audit engagement partner (EP) signature and individual EP’s quality on information asymmetry, analysts’ forecast errors and forecast dispersion. I predict and find that, ceteris paribus, there is a significant decline in information asymmetry, analysts’ forecast errors and forecast dispersion from the pre- to post-EP signature period in the UK over both of short-term (e.g., 2008-2010) and long-term (e.g., 2004-2014). These findings hold when using a control sample approach and a different proxy for the information asymmetry, which indicate that my results are not likely due to the effect of concurrent events and correlated omitted variables. These findings provide timely and important empirical evidence to the ongoing debate about whether the Public Company Accounting Oversight Board should pass a similar requirement in the U.S.
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Date Issued: 2016
PURL: http://purl.flvc.org/fau/fd/FA00004651, http://purl.flvc.org/fau/fd/FA00004651
Subject Headings: Auditing -- Standards -- United States, Corporate governance, Corporations -- Auditing -- Standards -- United States, Disclosure in accounting, Financial risk management -- Forecasting, Financial services industry -- Management, International standard on auditing, Public Company Accounting Oversight Board
Format: Document (PDF)

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