Jimmy D. Moss scite author profile

Stine

1993

107

Many businesses are faced with liquidity problems for various reasons. This is especially true for small businesses, since most must operate with fewer sources of both short and long term financing than larger firms. Where less financing is available, more assets must be held in liquid form to meet daily transactions and emergency requirements. Larger firms, that have better access to both the money and capital markets, can afford to hold fewer current assets and meet cash requirements just as quickly and efficiently through borrowing.

Disaster and Preparedness: Lessons from Hurricane Rita

Mayer

Contingencies & Crisis Mgmt

Dale

2008

This paper investigates the lessons learned and preparedness behaviours of businesses in the southeast Texas region affected by Hurricane Rita. The data were collected through an e-mail survey sent to businesses in the southeast Texas region affected by Hurricane Rita. Findings from the study indicate that the majority of businesses took only 'few' or 'some' preparedness measures before the hurricane. However, those businesses that experienced impacts and losses due to Hurricane Rita report that they are now taking greater preparedness measures. This study identifies specific areas that should be addressed in a disaster preparedness plan based on information gathered from organizations that went through a major disaster first-hand.

Liquidity Characteristics of Small and Large Manufacturing Firms

Stine

1989

Many studies have compared various characteristics of large and small business firms. For example, recent studies have documented the “small firm effect”. These articles have indicated a tendency for small companies to exhibit greater risk‐adjusted stock returns than large companies. Other research has focused on comparing the financial aspects of small and large firms. These previous studies found a positive relationship between size and liquidity as measured by the current and quick ratios. Little, however, has been written in recent years that compares the liquidity characteristics of small and large firms.

Variables Explaining Bank Stock Prices

2010

JABR

The purpose of this study is to examine the relationship between an index of bank common stock prices and a variety of explanatory variables including interest rates on Treasury securities of various maturities and other economic variables.  We also examine the relationship between the term structure of interest rates and bank stock prices.  A sample of week ending values of the bank stock index is used as a proxy for the bank industry.  The weekly closing interest rates for the 13-week Treasury bill, 5-year Treasury note, 10-year Treasury note and the 30-year Treasury bond are used in the study.  Other data used were the U.S. dollar index, the CRB index, the price of gold, the S&P500 stock index, the VIX stock market volatility index and a measure of the yield curve.  Data was taken from January 1998 through November 2009.  Therefore, a total of approximately 620 cases of weekly observations are included in the study.  In order to study the effects of term structure of interest rates on bank stock prices, we take the difference between the 10-year Note and the 13-week Bill.  All variables are converted to a stationary series by taking first differences of each series.  Multiple linear regression is then used to study the variables that can explain bank stock prices.  A stepwise procedure was used to identify those variables with the strongest relationships in a multi-variable equation.  Three independent variables were found with an R-squared of 0.619.  The results of this study corroborate previous studies and have practical implications for investors and for bank managers.

Instructional Case: Java & Holes

Burns

2011

JBCS