Microfinance programs can improve the economic, social, and spiritual conditions of the poor. Survey responses from more than 29,000 microfinance clients are used here to study what impact the loan officer may have on advancement of this so called triple bottom line. The study seeks to identify...

In today's business environment corporate managers must find or create value for shareholders. Other corporate objectives are unmanageable and unsustainable. This paper and presentation explores the arguments and evidence for market value maximization as the sole goal of the corporation

Grupo Carso S.A. de C.V., is a Mexican holding company with a diversified investment portfolio in automotive parts, construction materials, tobacco, mining, tourism, restaurants and retail. This publicly held diversified company presents a unique opportunity for study of the effects and...

This study analyzes foreign currency hedging activity of U.S. multinational firms to determine if these firms hedge exchange rate risk to overcome an underinvestment problem. Previous research on this problem shows that firms' investment opportunities help to explain exchange rate risk hedging....

Student Managed Investment Programs (SMIP) have grown in popularity at U.S. colleges and universities. Previous research has shown that these SMIPs vary in structure and operation. This comparative study analyzes such differences between large and small institutions to study the questions of...

This study looks at the relationship between the success of microfinance institutions and the degree of economic freedom in their host countries. Many microfinance institutions are currently not self-sustaining and research suggests that the economic environment in which the institution operates...

This paper analyzes derivative security positions reflecting the corporate risk management policies of 44 companies from the gold mining industry. We document substantial time-series variation in risk management policies. For most firms, little of this variation in hedge ratios is explained by...

This paper analyzes derivative security positions reflecting the corporate risk management policies of 48 companies from three different industries. There exists substantial time-series variation in risk management policies among firms in each industry. Very little of the variation in hedge...