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Can a Firm’s Life Cycle Stage at the Time of the IPO Predict the Firm’s Ending? Evidence from the IPO Class of 1995
Get PDFI examine the relationship between firms' life cycle stages at the time of their IPOs and firm endings during the following twenty-five years by examining the outcomes of 502 firms listed in the Loughran and Ritter (2004) database as having IPOs in 1995. Using Dickinson's (2011) life cycle designations, logistic regression, and Cox proportional hazards models, I find that firms that have their IPOs during their Introduction stage have a 209% greater likelihood of having a negative ending than firms that have their IPOs during a different stage and a 93% greater likelihood of ending through a negative event instead of a merger or acquisition during the study period. The results support the idea that firms which have their IPOs during their Introduction stage may do so to, at least temporarily, make up for a lack of managerial skill.Kaw Valley Ban
Quantifying Green Finance and its Impact on Greenhouse Gas
Get PDFGreen finance encompasses the investment process that supplies funds for renewable energy sources that are needed for environmental sustainability. Our research is the first paper to quantify green finance as "investment in renewal energy" and examine the association of this quantification with greenhouse gas. Our major finding is consistent with the notion that green finance reduces greenhouse gas. Our results direct policymakers to increase sustainable energy investments so that environmental catastrophes can be avoided.Kaw Valley Ban
Treatment of Social Anxiety Disorder: A Case Study of an 11-Year-Old
Get PDFAn Empirically Supported Treatment Case StudyThe following is a de-identified case study that presents the treatment process and outcome for Hannah, an 11-year-old female with social anxiety disorder, along with her mother, Debra (names and other details of the case have been changed for confidentiality). The client is an elementary school student residing in a midsize city in Midwest America. Hannah was seen at a community mental health center after being referred by her primary care provider. Hannah presented with severe anxiety symptoms that impacted her ability to interact with adults and peers. Hannah’s anxiety affected her cognitions, emotions, physiological symptoms, behaviors, and overall functioning. Consistent with the literature on empirically supported approaches to the treatment of anxiety in children, this therapist employed Cognitive Behavioral Therapy (CBT) to assist Hannah in learning skills to effectively manage and reduce her anxiety symptoms. The interventions included psychoeducation about anxiety, relaxation training, cognitive restructuring, and exposure therapy. This case study reviews the relevant scientific literature, initial interview, process of diagnosis, utilization of assessments to clarify diagnosis and measure treatment progress, development of treatment plan, implementation of the treatment interventions, and barriers to treatment. A transcription of one complete session is included to provide a glimpse into Hannah’s presentation in session and offer insights into how the therapist processed session content to make informed decisions regarding implementation of CBT-based
treatment interventions. Hannah attended sessions regularly. Her compliance with homework assignments was inconsistent but she did engage in activities that challenged her social anxiety in her personal life such as ordering for herself at restaurants and engaging with adults and peers in one-on-one conversations. Treatment was still in progress during the writing of this report, and Hannah had made some treatment gains
Examination of Anxiety Sensitivity and Mindfulness in Adolescents
Get PDFAnxiety sensitivity increases the risk of developing anxiety disorders while mindfulness decreases such risk. The current study hypothesized adolescents with high anxiety sensitivity will score significantly lower than adolescents with low anxiety sensitivity on trait mindfulness, nonreactivity, nonjudging, describing, and acting with awareness, and adolescents with high anxiety sensitivity will score significantly higher than individuals with low anxiety sensitivity on observing. Participants received the Five Facet Mindfulness Questionnaire-Adolescents Short Form (FFMQ-A-SF) and Revised Childhood Anxiety Sensitivity Index (CASI-R). Significant differences consistent with hypotheses were found between anxiety sensitivity groups on overall mindfulness, describing, acting with awareness, nonjudging, and nonreactivity subscale scores. No significant differences were found for the observing subscale.Department of Psycholog
Stock Derivatives and Seasoned Equity Offerings
Get PDFPurpose - To explore if stock derivative types (stock options and stock warrants) are associated with stock returns for firms undergoing seasoned equity offerings (SEOs).
Design/methodology/approach - We regress stock returns against stock derivatives for periods around SEO announcements with standard errors clustered at the month level.
Findings - We find that lower stock derivatives holdings for the fiscal year after the SEO are associated with superior pre-SEO returns. This can be explained by owners exercising their derivatives to capitalize on the pre-SEO price run-up. We find that greater stock option holdings by insiders for the fiscal year after the SEO are associated with superior post-SEO returns for up to ten years after the SEO announcement. This new finding does not hold for stock warrants.
Research limitations/implications - Stock derivatives are supplied by Capital IQ. Given their description, we infer that stock options are owned largely by insiders. Thus, our insider conclusions for stock options depend on this implication.
Practical implications - Stock options and stock warrants can be used strategically to reward stock derivative owners of strong performing firms for past performance. Stock options can be used to motivate insiders (primarily key executives) to achieve superior future performance.
Originality/value - This study is unique in comparing the influence of holdings for stock options and stock warrants on stock price performance around SEOs. We show that the sign of the association depends on whether the test includes pre-SEO periods.Kaw Valley Ban
Mentorship: A Rehabilitation for Youth Exiting Psychiatric Residential Treatment Facilities
No full textPsychiatric Residential Treatment Facilities (PRTFs) remain controversial forms of care for
youth experiencing mental health concerns (Kapp et al., 2015). Mentorship programs are popular community-based interventions for at-risk youth. DuBois et al., (2002) postulate environmentally at-risk youth may be optimal candidates for mentoring due to often lacking a positive adult role model. Despite rising popularity of mentorship programs, research has yet to identify specific factors that produce consistent positive effects for disadvantaged youths transitioning out of PRTF settings.Department of Psycholog
The Relationship Between Emotion Regulation and Friendlessness in Young Adults
Get PDFPrior research suggests 15-20% of children experience friendlessness, or the state of
having no reciprocal friends (Parker & Seal, 1996). Friendlessness tends to be chronic, as
individuals who are friendless at an early age are likely to remain friendless into adulthood
(Engle et al., 2011). Friendlessness is associated with significant consequences throughout
childhood and adulthood (Fink & Hughes, 2019). While researchers have examined
consequences of friendlessness rather extensively, potential causal or explanatory factors, such as emotion regulation, have been largely neglected. The current study directly examined the relationship between emotion regulation and friendlessness. Participants who retrospectively reported being friended in childhood scored significantly lower on the Difficulties in Emotion Regulation Scale (DERS; Gratz & Roemer, 2004) than participants who retrospectively reported being friendless in childhood; however, this finding must be interpreted with caution. Participants who reported being currently friendless in adulthood scored significantly lower on the Friendship Questionnaire (FQ; Baron-Cohen & Wheelwright, 2003), which measures ability to derive support and satisfaction from friendships, than participants who reported being currently friended in adulthood. There was also a significant interaction between childhood and adulthood friendship status for FQ scores, indicating chronically friendless individuals experience significantly greater struggles in this area. These findings identify how vital the early identification of friendless children could be to inform the development of prevention efforts designed to minimize the long-term consequences of chronic friendlessness.Department of Psycholog
Charitable Giving… Tax or Religiosity Driven?
Get PDFThis article focuses on recent tax law changes which dramatically reduced the number of taxpayers who itemize. It then examines the level of charitable giving, possibly in anticipation of the changes in the tax law related to itemized deductions.Kaw Valley Ban
Adding Value to the Business Community: Lessons Learned from Employers’ Perception of New Hires
Get PDFPrevious studies investigated employer's satisfaction with new hires using a formative approach for measuring the construct. In other words, they looked at satisfaction as a sum of measured indicators such as oral communication or technology skills. This study investigates how new hires are perceived by their employers in a structurally different way. The model embodies a reflective-formative measurement representation. We are interested in the overall satisfaction that employers express when asked about new hires, positioning the employer as the customer in the evaluation process of new hires. Satisfaction is built as a reflective construct and operationalized accordingly. A hierarchical regression method is used to understand the impact of the independent formative variables, represented by student learning outcomes, on satisfaction. The findings provide a guidepost for schools of business to follow as they consider ways to make their curriculum more meaningful to the external stakeholders they serve.Kaw Valley Ban
Introducing University Pitch Competitions: An Analysis of the First Five Years
Get PDFThis paper centers on the introduction and development of a university business pitch competition held from 2014-2018. Firstly, the study compares the evolution of the competition over the first five years and how this compares with other university competitions. Second, interviews are conducted with past participants, judges and administrators for future improvements. Advantages and disadvantages of the event are discussed and a road map or best practice template is provided for implementation. The process immediately improved the competition, and these lessons can serve as a foundation for other institutions or organizations.Kaw Valley Ban