Browsing by Subject "finance"
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Item Academic Health Center Finance and Planning Committee (AHC-F&P) ChargeUniversity of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item Brooklyn Park Popular Annual Finance Report: Design Manual and Templates(Resilient Communities Project (RCP), University of Minnesota, 2016) Tang, Jun; Ahmad, AdanThis project was completed as part of the 2016-2017 Resilient Communities Project (rcp.umn.edu) partnership with the City of Brooklyn Park. Every year, the City of Brooklyn Park creates a Comprehensive Annual Finance Report (CAFR), an annual financial reporting document. The document is long and not comprehensible to the average resident. To improve financial transparency, this project was intended to create a more accessible Popular Annual Finance Report (PAFR), completed with community input. A pair of graduate students in Dr. Greg Lindsey’s PA 8081: Public Affairs Capstone workshop worked with City of Brooklyn Park project leads Korrie Johnson and Pa Thao to develop a PAFR for fiscal year 2015. The draft report, framework manual, and design manual and templates are available.Item Budget Model for a Changing Economic Environment(University of Minnesota, 2004) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P); Feeney, DanItem Compensation Models for AHC Faculty: A Presentation to the Board of Regents February 12, 2004(University of Minnesota, 2004-02-12) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item The Demand for Creative Approaches as We Compete for our Future: A Fiscal Year-End Wrap Up(University of Minnesota, 2008-06-11) Cerra, Frank B.Item Essays on Firms, Finance, and Macroeconomy(2022-06) Su, DanThe primary goal of this dissertation is to understand how the business activities of companies impact the macroeconomy. More specifically, it contains three essays. In the first essay “Rise of Superstar Firms and Fall of the Price Mechanism”, I investigatethe misallocation implications of corporate internal financing. I introduce product market competition and corporate risk management into a standard continuous-time heterogeneous agent model with incomplete markets. I show that the economy’s ability to allocate resources across different agents through the price mechanism is bounded by corporate internal savings as there is no market to equalize the marginal value of internal resources across firms. In other words, corporate cash can help achieve dynamic efficiency across times at the firm level but not static efficiency across individuals at the macro level. More importantly, misallocation – defined as the static resource allocation efficiency across individuals – increases in the new economy where (superstar) firms rely more on internal financing due to the increased earnings risk. Finally, this model can quantitatively match the deteriorating capital allocation efficiency in the U.S. data. In the second essay “The Rise of (Mega-)Firms with Negative Net Earnings”, I document the prevalence of public companies with negative net earnings since the 1970s. The fraction of firms with negative net income has increased sharply from 18% in 1970 to 54% in 2019. Such an increase is mainly driven by the right shifts in the mean, i.e., the increasing popularity of sizable firms that are not profitable. Based on the existing literature on customer capital, I conjecture that the increasing returns-to-scale in the new economy is the main driver behind it. I provide three pieces of supporting evidence. First, earning losses mostly come from the growing customer capital expenses instead of production-related costs, capital investments, or R&D expenditures. Second, cross-sectionally, firms with higher markup tend to have lower net incomes. Third, industries with low marginal production costs, on average, have higher percentages of unprofitable companies. The last essay “The Macroeconomics of TechFin” is to investigate the business cycle implications of TechFin. Over the past few years, many large technology companies have started lending in the capital markets, i.e., “TechFin”. How should we modify our existing macro-finance theories to accommodate the rise of this new financial intermediary? In this paper, I introduce both a banking sector and a TechFin sector into a continuous-time general equilibrium model with heterogeneous entrepreneurs and incomplete markets. These two financial sectors are identical except for the types of borrowing constraints faced by entrepreneurs. Entrepreneurs borrowing from banks are subject to the standard collateral-based borrowing constraints. In contrast, technology advantages allow the big tech companies to resolve agency costs and perform cash flow-based lending. I use a deep learning neural network approach to obtain global solutions, and the main conclusions are twofold. First, this new TechFin credit system leads to a higher capital allocative efficiency in the steady state. Second, the existence of BigTech lending acts as a propagation mechanism and makes the economy sensitive to the second-moment uncertainty shocks: a small and transitory micro-uncertainty shock can lead to amplified and persistent changes in aggregate outputs. This new financialaccelerator mechanism, associated with the new TechFin sector, differs from the classic one (e.g. Bernanke and Gertler, 1989; Kiyotaki and Moore, 1997) in three aspects: micro uncertainty instead of aggregate productivity is the primitive shock; financial friction comes from earnings-based borrowing constraints instead of collateral-based ones; and the feedback loops happen between net worth inequality, instead of net worth level, and asset prices.Item Financial Comparisons Report(University of Minnesota, 2001-09-10) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item Financial Comparisons Update FY00-FY04: Academic Health Center vs. Other Academic Units(University of Minnesota, 2005-05) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item Financial Concerns and Financial Stress: Factors Influencing First-Generation College Students' Success(2017-12) Deenanath, VeronicaUsing the Double ABCX model, this dissertation involved two studies that investigated the financial realities of first-generation college students (FGCS) by examining factors influencing the level of financial concern about paying for college, financial stress, financial coping strategies, and low-income status, and how those factors predicted graduation at six years post matriculation. Student Experience in Research University (SERU) data matched with institutional records were used for both studies. Study 1 examined demographic characteristic differences between the sample’s FGCS and non-FGCS and compared factors that contributed to each group’s financial concern using a sample of 4,439 students, 27% of which were FGCS. Results showed that FGCS were statistically different from non-FGCS peers based on age, age when they learned to speak English, race/ethnicity, immigrant status, low-income status, job, financial independence, and whether or not they lived in a residence hall. Using step-wise multiple regression, the model predicted 54% of the variance in the level of financial concern about paying for college. Being a FGCS, low-income, age when one learned to speak English, having an off campus job, and the level of financial stress experienced increased the level of financial concern about paying for college, while not living in a residence hall decreased their financial concern. Study 2 predicted the graduation of FGCS at six years (N=565) using step-wise binominal logistic regression. Approximately 32% of the sample was non-White, and 57% had jobs. The variance (Nagelkerke R2) explained by the model was 18%. Factors that predicted graduation at six years were being Black and GPA. Implications for the findings are discussed.Item Financial Status of Internal Service Organizations (ISO) in the Evolving Academic Health Center (AHC) Research Infrastructure Funding Model(University of Minnesota, 2002-01) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item Finding the Money to Manage the Mission: A Fiscal Year-End Wrap Up(University of Minnesota, 2007-06-28) Cerra, Frank B.Item FY07 Strategic Investments and Central Allocations: College of Pharmacy(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem FY07 Strategic Investments and Central Allocations: College of Veterinary Medicine(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem FY07 Strategic Investments and Central Allocations: Medical School(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem FY07 Strategic Investments and Central Allocations: School of Dentistry(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem FY07 Strategic Investments and Central Allocations: School of Nursing(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem FY07 Strategic Investments and Central Allocations: School of Public Health(University of Minnesota, 2006) University of Minnesota. Office of the Senior Vice President for Health SciencesItem Letter to Frank B Cerra, Senior Vice President for Health Sciences(2002-10-25) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)Item Managing Checking and Savings Accounts for Grant and Gift Funds(St. Paul, MN: University of Minnesota Extension Service, 1995-01) Anderson, Kay E.This fact sheet provides guidelines to help extension educators manage sponsored funds (grants) and gifts. It explains audit responsibilities, how to locate an auditor, depositing checks in appropriate accounts, and personnel payment.Item Merit Evaluation Processes in the AHC Units(University of Minnesota, 2000) University of Minnesota. Academic Health Center Finance and Planning Committee (AHC-F&P)