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Developing Capacity: The IMF's Impact on State Capacity

The purpose of this thesis is to examine the impact of International Monetary Fund (IMF) loans since the adoption of the governance mandate on overall government capability. The study will explore whether the presence of IMF loans in developing countries enhances state capacity. Administrative capacity is of particular importance because it is a requisite for the integration of state and society in the national political arena and encourages joint involvement of government and citizenry in over… more

Date: December 2006

Creator: Harper, Christine

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

An Open Economy Model of Pakistan : Relative Effectiveness of Monetary and Fiscal Policy

This thesis examines the relative effectiveness of monetary and fiscal policy in Pakistan by utilizing an open economy framework. There is a great need for research about the effectiveness of macroeconomic policies as the knowledge of the relative importance of monetary and fiscal policy could prove useful to policymakers and help them understand the macroeconomic adjustment processes of these policy measures.

Date: August 1995

Creator: Hameed, Abid

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

The Relationship Between Foreign Direct Investment And The Macro Economy

In this thesis, I first investigate the relation between the aggregate unemployment rate and foreign direct investment (FDI) inflows and outflows. To study this relationship, I use a panel data set that contains 45 (developed and developing) countries observed from 1987 through 2008, and I employ Arellano and Bonds generalized methods of moments (ABGMM) estimation method for dynamic panel data. My results show that FDI inflows and outflows are not determinants of the aggregate unemployment rate… more

Date: December 2011

Creator: Kekec, Ibrahim

Item Type: Thesis or Dissertation

Partner: UNT Libraries

Empirical Evidence of Pricing Efficiency in Niche Markets

Unique and proprietary data of the illiquid, one-year non cancelable for three month Bermudan swaps (1Y NC 3M swaps) and one-year non callable for three months Bermudan CDs (1Y NC 3M CDs), provides evidence of market efficiency. The 1Y NC 3M swap and 1Y NC 3M CD markets efficiently reflected unexpected economic information. The 1Y NC 3M swaption premiums also followed the European one-year into three-month (1Y into 3M) swaption volatilities. Swaption premiums were computed by pricing non-optio… more

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Date: May 2000

Creator: Koch, Sandra Idelle

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

The Limits of Arbitrage and Stock Mispricing: Evidence from Decomposing the Market to Book Ratio

The purpose of this paper is to investigate the effect of the "limits of arbitrage" on securities mispricing. Specifically, I investigate the effect of the availability of substitutes and financial constraints on stock mispricing. In addition, this study investigates the difference in the limits of arbitrage, in the sense that it will lead to lower mispricing for these stocks, relative to non-S&P 500 stocks. I also examine if the lower mispricing can be attributed to their lower limits of arbit… more

Date: December 2015

Creator: AlShammasi, Naji Mohammad

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Harmonization of Accounting Practices Among IAS Firms Listed in the U.S. and Its Capital Market Implications

The focus of the study is on financial reporting for non-U.S. firms registered with the Securities Exchange Commission (SEC) but using International Accounting Standards (IAS). This study addresses two issues, (1) whether the comparability of financial reporting among firms using IAS in credit and equity financing jurisdictions increases over time and (2) the associated capital market implications. The motivation for the study is the SEC's ongoing assessment of IAS for possible use by non-U.S. … more

Date: December 2003

Creator: Paananen, Mari

Item Type: Thesis or Dissertation

Partner: UNT Libraries

Reconciling capital structure theories in predicting the firm's decisions.

Past literature attempts to resolve the issue of the motivation behind managers' choice of a given capital structure. Despite several decades of intensive research, there is still no consensus about which theory dominates capital structure decisions. The present study empirically investigates the relative importance of two prominent theories of capital structure- the trade-off and the pecking order theories by exploring the conditions under which each theory can explain the financing choices o… more

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Date: December 2006

Creator: Palkar, Darshana

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Institutional ownership and dividend policy: A framework based on tax clientele, information signaling and agency costs.

This study is an empirical examination of a new theory that links dividends to institutional ownership in a framework of both information signaling and agency costs. Under this theory put forth by Allen, Bernardo and Welch in 2000, dividends are paid out to attract tax-favored institutional investors, thereby signaling good firm quality and/or more efficient monitoring. This is based on the premise that institutions are considered sophisticated investors with superior ability and stronger incen… more

Date: August 2008

Creator: Zaghloul Bichara, Lina

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Economic Motivation of the Ex-Dividend Day Anomaly: Evidence from an Alternative Tax Environment

Several studies have observed that stocks tend to drop by an amount that is less than the dividend on the ex-dividend day, the so-called ex-dividend day anomaly. However, there still remains a lack of consensus for a single explanation of this anomaly. Different from other studies, this dissertation attempts to answer the primary research question: How can investors make trading profits from the ex-dividend day anomaly and how much can they earn? With this goal, I examine the economic motivatio… more

Date: December 2011

Creator: Anantarak, Sarin

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Significant Alphas in Real Estate Funds

This study provide empirical evidence whether bias in the standard errors of Jensen’s alpha explains conflicting results in the extant literature in real estate funds. Significant alphas in real estate mutual funds and REITs are compared with heteroskedasticity consistent covariance matrix estimators (HC1, HC2 and HC3), Newey-West standard errors, a robust regression tempering the effect of high leverage points, a GARCH model, and a HC3 adjusted wild bootstrap. In the analysis of real estate mu… more

Date: August 2014

Creator: Rogers, Nina

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Market valuation of the translation process under SFAS No. 52: Further evidence

This research investigates the information content of the translation information resulting from exchange rate fluctuations. Two hypotheses are examined. The dollar movement hypotheses investigate whether there is a positive relationship between security valuation and the translation information and whether the market assigns different weights to translation gains and losses in both the depreciating and appreciating exchange rate environments. The geographic concentration hypothesis tests wheth… more

Date: May 2000

Creator: Lin, Henghsiu

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Psychometric Development of the Adaptive Leadership Competency Profile

This study documented the psychometric development of the Adaptive Leadership Competency Profile (ALCP). The ALCP was derived from a qualitative database from the National Science Foundation project (NSF 9422368) and the academic body of literature. Test items were operationalized, and subject matter experts validated 11 macro-leadership competencies and 65 items. Rasch rating scale measurement models were applied to answer the following questions: (a) How well do the respective items of the AL… more

Date: December 2000

Creator: Sherron, Charles T.

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Earnings Management and the Independence or Interdependence of Accounting Choices: the Decision to Adopt Mandated Accounting Changes

This research examines whether firms managed earnings in the year they adopted SFAS 109, Accounting for Income Taxes (or its predecessor SFAS 96), by combining the choice to adopt SFAS 109 with other accounting choices in an interdependent rather than independent manner. Prior literature generally analyzes only one specific accounting choice, assuming that the decision is independent of other accounting procedure choices. However, it is unlikely that managers act in this manner. When attempting… more

Date: December 1997

Creator: Nichols, Nancy Brown

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

The Effect of SFAS No. 141 and SFAS No. 142 on the Accuracy of Financial Analysts' Earnings Forecasts after Mergers

This study examines the impact of Statements of Financial Accounting Standards No. 141 and No. 142 (hereafter SFAS 141, 142) on the characteristics of financial analysts' earnings forecasts after mergers. Specifically, I predict lower forecast errors for firms that experienced mergers after the enactment of SFAS 141, 142 than for firms that went through business combinations before those accounting changes. Study results present strong evidence that earnings forecast errors for companies invol… more

Date: May 2005

Creator: Mintchik, Natalia Maksimovna

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Auditor's Reporting Practices for an Entity's Ability to Continue as a Going Concern: The Impact of SAS no. 59

This study examines whether the probability of a firm receiving a going concern modified report or a standard audit report with note disclosure of a going concern uncertainty has increased after the issuance of SAS No. 59. This study also examines whether the probability of a firm having no reference to a going concern uncertainty in its audit report or the financial statement notes has decreased after the issuance of SAS No. 59. The findings provide support for the hypotheses that a firm has a… more

Date: August 1998

Creator: Vermeer, Thomas E. (Thomas Edward)

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

An Analysis of Market Efficiency for Exchange-traded Foreign Exchange Options on an Intraday Basis

This study examines the comparative magnitude of disturbances in intraday data for exchange traded foreign exchange (FX) options. An in-depth time series analysis on the frequency and extent of discrepancies in the disturbances is conducted. The purpose of this study is twofold. First, using intraday data and trading volume, this study attempts to determine whether both put-call parity and lower boundary conditions consistently hold for exchange traded options written on U.S. dollar denominat… more

Date: May 2015

Creator: Ren, Peter

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

An Analytical Model of the Determinants and Outcomes of Nation Branding

Nation as a brand represents the intangible assets of a country, encompassing various dimensions such as politics, economics, culture, history, and technology. However, much of extant work in nation branding has been limited to the empirical investigations of its positioning and implementation for specific countries, while other scholarly works in nation branding are conceptual. Various factors associated with nation branding are discussed in the literature, but there is no organizing mechanism… more

Date: December 2009

Creator: Sun, Qin

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Risk Management And Market Efficiency On The Midwest Independent System Operator Electricity Exchange.

Midwest Independent Transmission System Operator, Inc. (MISO) is a non-profit regional transmission organization (RTO) that oversees electricity production and transmission across thirteen states and one Canadian province. MISO also operates an electronic exchange for buying and selling electricity for each of its five regional hubs. MISO oversees two types of markets. The forward market, which is referred to as the day-ahead (DA) market, allows market participants to place demand bids and su… more

Date: December 2011

Creator: Jones, Kevin

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

The Effect of Texas Charter High Schools on Diploma Graduation and General Educational Development (Ged) Attainment

This dissertation is a study of the effect of Texas's charter high schools on diploma graduation and General Educational Development (GED) attainment. Utilizing data from the Texas Schools Project at the University of Texas at Dallas, the study follows a cohort of Texas students enrolled as 10th graders in the fall of 1999 and tracks their graduation outcomes through the summer of 2002 when they were expected to have completed high school. The analysis uses case study research and probit regres… more

Date: August 2005

Creator: Maloney, Catherine

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Time Series Analysis of Going Private Transactions: Before and after the Sarbanes-Oxley Act

Using 1,473 going private transactions completed between 1985 and 2007, I assess whether the increase in going private transactions that occurred after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was driven by SOX, or whether this phenomenon continues an ongoing historical trend. To examine this issue, I initially used structural break tests and intervention analysis. From the initial techniques, I find support that the passage of SOX increased going private transactions for these categ… more

Date: August 2010

Creator: Kim, Jaehoon

Item Type: Thesis or Dissertation

Partner: UNT Libraries

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Regulation and Political Costs in the Oil and Gas Industry: An Investigation of Discretion in Reporting Earnings and Oil and Gas Reserves Estimates

This study investigates the use of discretion by oil and gas companies in reporting financial performance and oil and gas reserve estimates during times of high political scrutiny resulting from increases in energy prices. Hypotheses tested in prior literature state that companies facing the risk of increasing taxes or new regulations reduce reported earnings to reduce this risk. This study uses a measure of high profitability (rank order of return on assets relative to industry peers) to ident… more

Date: August 2010

Creator: Kurdi, Ammr

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

U.S. - China Bilateral Trade 1972 - 1992

The main task of this thesis is to investigate economic implications of U.S.- China trade. The study period covers from 1972 to 1992. Data are available from International Financial Statistics, Survey of Current Business, Statistical Yearbook of P.R.China. Various hypotheses are employed to explain the basis and gain of trade, the impact of trade on both economies, and the major determinants of bilateral trade flows. This thesis contains five parts: I. Introduction; II. Outlook; III. Theoretica… more

Date: August 1994

Creator: Zhang, Jianxin

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Changes in Trading Volume and Return Volatility Associated with S&P 500 Index Additions and Deletions

When a stock is added into the S&P 500 Index, it is automatically "cross-listed" in the index derivative markets (i.e., S&P 500 Index futures and Index options). I examined the effects of such cross-listing on the trading volume and return volatility of the underlying component stocks. Traditional finance theory asserts that futures and "cash" markets are connected by arbitrage mechanism that brings both markets to equilibrium. When arbitrage opportunities arise, arbitrageurs buy (sell) the ind… more

Date: December 2007

Creator: Lin, Cheng-I Eric

Item Type: Thesis or Dissertation

Partner: UNT Libraries

open access

Determinants of Outbound Cross-border Mergers and Acquisitions by Emerging Asian Acquirers

This dissertation identifies key determinants of outbound cross-border mergers and acquisitions (M&As) by emerging Asian acquirers during 2001-2012. Using a zero-inflated model that takes into account different mechanisms governing country pairs that never engage in cross-border M&As and country pairs that actively participate in cross-border M&As, I uncover unique patterns for emerging Asian acquirers. Emerging Asian acquirers originate from countries with lower corporate tax rates than thos… more

Date: August 2014

Creator: Punurai, Somrat

Item Type: Thesis or Dissertation

Partner: UNT Libraries