Browsing Auburn University Graduate School by Department "Finance"
Now showing items 1-20 of 23
The Characteristics of REITs During the Financial Crisis: Evidence from the Stock and Option Markets
(2013-11-15)
In this thesis, we examine the characteristics of real estate investment trust (REIT) equity with the sample of Simon Property Group Inc. (SPG) during the financial crisis (from 2006 to 2008). Diavatopoulos, Fodor et al. ...
Corporate Risk and Corporate Governance
(2009-04-29)
This thesis investigates the effect of Gompers, et al.’s goverance index (gindex) and other possible factors on corporate risk. I find that corporate risk is significantly inversely-related with the gindex, which essentially ...
An Empirical Study of the Dim Sum Market
(2014-05-16)
This thesis represents a comprehensive study of the Hong Kong Dim sum market and the effect of country, issuers’ industry, and rating on the characteristics of Dim sum bonds. I find evidence that Dim sum bonds issued by ...
Essays on Banking and Housing
(2021-04-15)
In 1865, the first minority bank in the United States was established. Over time, banks owned or controlled by minorities have grown in number. Yet, one hundred and fifty years later, they still account for only 2.8 percent ...
Essays on Financial Institutions and Financial Stability
(2019-04-09)
This dissertation is composed of three essays related to financial institutions and financial stability. The first essay constructs a measure of integration among global banks and examines its impact on bank insolvencies ...
Essays on Financial Markets and Institutions
(2023-06-16)
This dissertation consists of three essays that focus on financial markets and institutions. Chapter 1 examines whether branches of banks in communities affected by natural disasters raise deposit rates to attract additional ...
Essays on Forecasting in Finance
(2021-07-22)
This dissertation is composed of three essays related to forecasting in various financial markets. The first essay reviews over 60 studies published from 2008 to 2021 that investigate the causes of the mortgage crisis ...
Essays on Option Hedging and Application of the Black-Scholes Model
(2020-05-04)
This dissertation is composed of three essays related to hedging and application of the Black-Scholes model. The first essay is motivated by the short-lived arbitrage model, which has been shown to significantly improve ...
An Exposition on CEO Traits that Affect Corporate Decision Making
(2023-06-30)
Jensen & Meckling (1976) state that managers make decisions to maximize their personal utility,
and their utility function differs from that of their firm. This possibility implies that a manager's
characteristics that ...
Firm Hedging Decision and Its Value Implication
(2022-07-21)
In Chapter 1, we study the impact of increased transparency in the reporting of OCI on firms’ foreign currency cash flow hedging practice and the value relevance of this change. We find a reduced level of foreign currency ...
The Impact of the Gross Book-to-market Ratio in REITs, and Corporate Reactions to PBGC Variable Rate Premium Increases
(2023-04-24)
The first two essays explore the usefulness of the gross book-to-market ratio in equity REITs.
The first essay shows that the traditional calculation of the market-to-book (and book-to-market)
ratio is flawed. We show ...
The Impact of the Sarbanes-Oxley Act of 2002 on the Premia Paid for Target Companies in Mergers and Acquisitions
(2008-05-15)
This thesis investigates the impact of the Sarbanes-Oxley Act of 2002 on the premia paid for target companies in mergers and acquisitions. I am analyzing a sample of 104 deals, where both the target and the acquiring company ...
The Impacts of Retail Options Trading and REIT Director Backgrounds
(2024-06-11)
Chapter one investigates the pass through of option volume to stock pricing through option intermediary hedging. Increased liquidity in the options market creates price pressure in the underlying stock market through the ...
Sell in May and Go Away Effect: Evidence from Developed, Emerging, and Frontier Markets
(2013-11-08)
This thesis represents a comprehensive study of the Sell in May Effect. I follow the work of Bouman and Jacobsen (2002) and Andrade et al. (2013) on a large sample of countries consisting of 24 developed, 21 emerging and ...
Size and Price-to-Book Effects in Stock Returns: Evidence from Chinese Stock Markets
(2013-04-19)
In this thesis, the relationship between stock return, beta, size and P/B ratio in the Chinese stock market is reexamined. Jensen, Johnson, and Mercer’s approach is applied to confirm whether the P/B effect and size effect ...
A Test of Market Efficiency When Short Selling is Prohibited: A Case of the Dhaka Stock Exchange
(2015-12-08)
This study investigates the impact of an absence of short-selling practice on stock price efficiency in the Dhaka Stock Exchange (DSE). I estimate the sign and magnitude of runs ranging from one-day to twenty-day-long runs ...
Three Essays in Investments and Corporate Finance
(2023-07-14)
Mutual funds traditionally focus their investments on the public markets. However, there has been a dramatic increase in mutual fund investment in private firms recently. The first essay examines whether mutual funds’ ...
Three Essays on Asset Management and Financial Institutions
(2019-07-18)
In Chapter 1, we investigate the role of mutual fund flows in incorporating market sentiment into asset prices. We show that retail investors adjust their investments among mutual fund categories in response to changes in ...
Three Essays on Banking, Digital Finance, and Financial Inclusion.
(2021-07-12)
The first essay examines how financial literacy affects household choice as being banked only, underbanked, or unbanked. Also, the relationship between financial literacy and household use and frequency of use of different ...
Three Essays on Corporate Finance and Institutional Investors
(2019-07-02)
In chapter 1, we investigate the effects of activist investors on firms’ mergers and acquisitions. Using a comprehensive data set, we find that 138 out of 1,301 acquirers have activist investors comprising both hedge fund ...