http://www.inquiriesjournal.com/keyword/finance Inquiries Journal provides undergraduate and graduate students around the world a platform for the wide dissemination of academic work over a range of core disciplines. en-us Sat, 22 Aug 2026 18:04:01 -0400 Sat, 22 Aug 2026 18:04:01 -0400 http://www.inquiriesjournal.com/articles/1864/democratic-misrepresentation-a-quantitative-analysis-of-out-of-district-state-campaign-fundraising By Mattew L. Katz, Justin Miller, & Sethu Odayappan - This paper aims to fill the gap in quantitative research on out of district donations at state levels of American government. Examining inequality in donor representation is an important part of ensuring an equitable and just democracy. Using donor data from the Massachusetts Office of Campaign and Political Finance (OCPF) we identify unjust patterns in out of district contributions to state representatives in the 2016-2018 Massachusetts campaign cycle. Specifically, we examine economic, occupational, and racial factors through the use of home price estimates as a proxy for wealth, self-reported... Tue, 19 Jan 2021 05:46 EST http://www.inquiriesjournal.com/articles/1864/democratic-misrepresentation-a-quantitative-analysis-of-out-of-district-state-campaign-fundraising http://www.inquiriesjournal.com/articles/1526/the-effect-of-dodd-frank-on-the-profitability-of-community-banks-an-econometric-model By Alexandra R. Larch - This study examines the effects of the Dodd-Frank Act on community banks in the Northeastern region of the United States. Using annual financial data from years 2010 to 2014 gathered on 82 banks, a regression equation is estimated using the Generalized Method of Moments (GMM) technique described by Arellano and Bover (1995). The dependent variables are return on equity, return on assets, and net interest margin. The independent variables can be placed into the three categories: regulation determinants, profitability variables, and macroeconomic indicators. The results indicate regulations have... Fri, 03 Feb 2017 10:29 EST http://www.inquiriesjournal.com/articles/1526/the-effect-of-dodd-frank-on-the-profitability-of-community-banks-an-econometric-model http://www.inquiriesjournal.com/articles/1451/rethinking-microcredit-in-bangladesh-does-grameen-bank-serve-the-neoliberal-agenda By Mehran Shamit - Grameen Bank, translated as "rural bank" in the Bangla language, is a grassroots microcredit organization founded in 1983 by Bangladeshi economist Muhammad Yunus to provide new financial opportunities to the poor. Grameen Bank and Muhammad Yunus were jointly awarded the Nobel Peace Prize in 2006 for their development efforts through microcredit. As of October 2011, Grameen Bank has over 8 million borrowers, 97% of whom are women (Grameen Bank, n.d.). The Bank provides services to more than 97% of villages in Bangladesh with 2,565 branches across the country and is especially well known around... Tue, 20 Sep 2016 09:07 EDT http://www.inquiriesjournal.com/articles/1451/rethinking-microcredit-in-bangladesh-does-grameen-bank-serve-the-neoliberal-agenda http://www.inquiriesjournal.com/articles/1406/executive-compensation-at-credit-unions By Daniel Koslovsky - This study is the first to examine credit union executive pay using compensation information from IRS Form 990. Using OLS, logistic, and tobit regression analysis to identify the determinants of base and bonus compensation of chief executive officers (CEOs), this paper finds evidence of misaligned incentives between CEOs and the institutions' member-owners{ although caution is needed when trying to reach firm conclusions because of the limits of the study. Higher fees and lower dividend payments are costly to the credit union members, and yet are correlated with higher compensation for executives... Tue, 03 May 2016 12:00 EDT http://www.inquiriesjournal.com/articles/1406/executive-compensation-at-credit-unions http://www.inquiriesjournal.com/articles/1176/factors-that-limit-regulatory-response-in-the-wake-of-the-global-financial-crisis-ideology-regulatory-capture-and-power-dynamics By Frank Wang - The second set of causes lie within an increasingly interconnected capitalist economic system. These factors include the dominance of market fundamentalist ideology, easy access to credit in the US due to globalization, and economic instability due to excess fictitious capital and irrational exuberance. Finally, I argue that systemic risks inherent in an increasingly interconnected capitalist world economy are insufficiently addressed by regulatory reactions to the global financial crisis due to three factors: theoretical neglect of systemic risk by macro-prudential regulation, regulatory capture... Wed, 23 Sep 2015 12:44 EDT http://www.inquiriesjournal.com/articles/1176/factors-that-limit-regulatory-response-in-the-wake-of-the-global-financial-crisis-ideology-regulatory-capture-and-power-dynamics http://www.inquiriesjournal.com/articles/1399/bayesian-portfolio-analysis-analyzing-the-global-investment-market By Daniel Roeder - The goal of portfolio optimization is to determine the ideal allocation of assets to a given set of possible investments. Many optimization models use classical statistical methods, which do not fully account for estimation risk in historical returns or the stochastic nature of future returns. By using a fully Bayesian analysis, however, I am able to account for these aspects and incorporate a complete information set as a basis for the investment decision. I use Bayesian methods to combine different estimators into a succinct portfolio optimization model that takes into account an investor's... Wed, 15 Apr 2015 12:00 EDT http://www.inquiriesjournal.com/articles/1399/bayesian-portfolio-analysis-analyzing-the-global-investment-market http://www.inquiriesjournal.com/articles/1392/dont-fear-the-reaper-analyzing-the-effect-of-health-on-microfinance-participation By Sam Thompson - The randomized introduction of microfinance to neighborhoods surrounding Hyderabad, India provides an opportunity to analyze the relationship between health and an individual's decision to borrow. Employing the Abdul Latif Jameel Poverty Action Lab's data from the aforementioned randomized controlled trial (RCT), I find that healthy individuals (those who lose fewer than 15 working days a year to illness) are significantly more likely to participate in microfinance. Accounting for intra-neighborhood correlation, however, the inclusion of clustered standard errors reduces the significance of said... Tue, 15 Apr 2014 12:00 EDT http://www.inquiriesjournal.com/articles/1392/dont-fear-the-reaper-analyzing-the-effect-of-health-on-microfinance-participation http://www.inquiriesjournal.com/articles/1394/the-relationship-between-monetary-policy-and-asset-prices-a-new-approach-analyzing-us-manda-activity By Brett R. Ubl - This article details the relationship between asset prices and monetary policy with a specific focus on the mergers and acquisitions market. The existing literature has studied extensively the link between monetary policy and stock prices and housing prices, but has not analyzed other assets, such as MA transactions. Monetary policy theory suggest that a negative shock to monetary policy that lowers interest rates increases asset prices. A lower interest rate decreases the cost of borrowing, raises investment levels (say for firms or home-buyers), and thus raises the asset price. Using a VAR methodology... Tue, 15 Apr 2014 12:00 EDT http://www.inquiriesjournal.com/articles/1394/the-relationship-between-monetary-policy-and-asset-prices-a-new-approach-analyzing-us-manda-activity http://www.inquiriesjournal.com/articles/1086/the-interests-of-minority-and-majority-shareholders-in-the-eu By Angelika Gorak - The recent economic crisis roved to be immensely threatening to the economic equilibrium within the European Union (EU). Beginning in the United States, it then proved its "domino effect" by covering the EU, resulting in so-called 'financial stress' in all the Member States.1 In this context, some possible explanations for the crisis are worth mentioning: unsustainable macroeconomic inequalities , a lack of adequate policies preventing adventurous risk-t aking on the global scale,2 a complete failure in the system of global financial governance and its regulatory framework.3 Many of these explanations... Wed, 01 Jan 2014 07:58 EST http://www.inquiriesjournal.com/articles/1086/the-interests-of-minority-and-majority-shareholders-in-the-eu http://www.inquiriesjournal.com/articles/863/a-stakeholders-perspective-on-the-implications-of-ifrs-and-fair-value-accounting-on-valuation-of-securities By Glynis Milne - Due to the complexity of modern financial instruments, accurate valuation can prove difficult even in optimal market conditions. Traditionally International Financial Reporting Standards (IFRS) have allowed securities to be valued based on their historical cost, which results in financial instruments being held on the books at the initial cost paid, until the point at which they are sold. However, this practice may be viewed as problematic when the market value of the financial instrument has not appreciated. Furthermore, market valuation becomes even more difficult to substantiate in illiquid... Mon, 30 Sep 2013 04:36 EDT http://www.inquiriesjournal.com/articles/863/a-stakeholders-perspective-on-the-implications-of-ifrs-and-fair-value-accounting-on-valuation-of-securities http://www.inquiriesjournal.com/articles/1605/commercial-interests-political-influence-and-the-arms-trade By Nicholas Taber - Given the importance of the global defense trade to geopolitics, the global economy, and international relations at large, this paper examines the political economy of the U.S. defense industry. The goal of this study is to determine the extent to which the U.S. arms trade is driven by commercial interests. This study hypothesizes that an increase in the political influence of the U.S. arms industry leads to any increase in arms exports. Using the congruence method, this study observes campaign contributions in given years from defense corporations with the largest market shares. While strong... Fri, 31 May 2013 12:00 EDT http://www.inquiriesjournal.com/articles/1605/commercial-interests-political-influence-and-the-arms-trade http://www.inquiriesjournal.com/articles/1209/effects-of-islamic-banking-on-financial-market-outcomes-in-gcc-countries-and-iran By Robert Morrissey - Islamic banking and finance have become increasingly widespread over the past two decades, particularly in Muslim-majority countries in the Middle East, North Africa, and Southeast Asia. This paper uses country-level data to examine how growing Islamic banking sectors have affected financial market outcomes in six countries. The analysis is split into two parts, first testing the hypothesis that countries with large Islamic banking sectors were less affected by the 2008 financial crisis than countries with strictly conventional banking systems, and second testing the hypothesis that emerging Islamic... Thu, 01 Nov 2012 06:41 EDT http://www.inquiriesjournal.com/articles/1209/effects-of-islamic-banking-on-financial-market-outcomes-in-gcc-countries-and-iran http://www.inquiriesjournal.com/articles/1227/divisive-economic-device-understanding-chinas-choice-to-create-a-sovereign-wealth-fund By Felicty M. Yost - Three explanations for why China created CIC, however, can be elaborated with much more evidence. This essay will show that both rational-actor, profit seeking models and bureaucratic politics provide strong explanations for CIC's creation. A third explanation — that China is seeking international power — is much more difficult to prove. This section is of value however, because it permits an opportunity to discern the causes for CIC's creation from the implications of its creation, which have been harped on in previous literature. This paper finds that there could be an explanation... Fri, 15 Apr 2011 12:00 EDT http://www.inquiriesjournal.com/articles/1227/divisive-economic-device-understanding-chinas-choice-to-create-a-sovereign-wealth-fund http://www.inquiriesjournal.com/articles/1110/climate-finance-breaking-the-deadlock-in-climate-change-negotiations By Pawel Voronin - One year later - in Cancun, Mexico - 22,000 participants were expected to take part in COP 16. The conference was opened by Mexico’s President, Felipe Calderón, and 13 heads of state and heads of government were present in Cancun.2 The motto of the conference seemed to be ‘little steps at a time’, as if to contrast the failed strategy adopted by the Copenhagen assembly – which attempted to achieve too much at once.3 The central “little step” was presented by, among others, the Prime Minister of Norway, Jens Stoltenberg – the only western head of... Tue, 01 Feb 2011 12:00 EST http://www.inquiriesjournal.com/articles/1110/climate-finance-breaking-the-deadlock-in-climate-change-negotiations http://www.inquiriesjournal.com/articles/1270/why-financial-conglomerates-are-at-the-center-of-the-financial-crisis By Arthur E. Wilmarth - In the United States, where the crisis began, markets for stocks and homes have suffered their steepest downturns since the 1930s and have driven the domestic economy into a steep and prolonged recession. The total market value of publicly-traded U.S. stocks slumped by more than $10 trillion between October 2007 and February 2009. In addition, the value of U.S. homes fell by an estimated $6 trillion between July 2006 and the end of 2008. U.S. gross domestic product declined sharply during 2008 and the first quarter of 2009, and five million jobs were lost during the same period. Many sectors of... Sun, 01 Nov 2009 12:00 EDT http://www.inquiriesjournal.com/articles/1270/why-financial-conglomerates-are-at-the-center-of-the-financial-crisis http://www.inquiriesjournal.com/articles/1272/a-world-of-financial-models-the-french-touch-in-deregulation-1980-2009 By Luis F. De Lencquesaing - Change. This word, perhaps overused in other contexts, is insufficient to describe the revolution that is taking place in the organization of American finance. But, apart from the media buzz and the populist rhetoric of politicians, can we expect the Anglo- American organization of finance to change that dramatically? Will the G-20 lead to global convergence on new terms? Warren Buffet, referring to the current financial crisis, has famously said: “when the tide goes out, you see who has been swimming naked.” The American and British banks in general seemed to have left their swimsuits... Sun, 01 Nov 2009 12:00 EDT http://www.inquiriesjournal.com/articles/1272/a-world-of-financial-models-the-french-touch-in-deregulation-1980-2009 http://www.inquiriesjournal.com/articles/1302/in-praise-of-populism-the-coming-reconstruction-of-financial-regulation By Elizabeth Sanders - Newspaper and Television commentaries in the United States and Europe abound with references to "outbursts of populism" in United States as a stereotypically American response to economic crisis.1 Their story lines trivialize historic Populism in the U.S., both its substance and its contribution to financial regulation. American Agrarian movements arose in response to grievances rooted in pathologies of mature, weakly regulated capitalism. The agrarians had real grievances linked to rigidities of the gold standard and bank control of note issue, monopoly control of longdistance transportation... Wed, 15 Apr 2009 12:00 EDT http://www.inquiriesjournal.com/articles/1302/in-praise-of-populism-the-coming-reconstruction-of-financial-regulation http://www.inquiriesjournal.com/articles/1281/rising-euro-falling-dollar-the-dynamic-of-a-global-monetary-shift By Hubert Zimmermann - Yet, it is clear that the Euro plays in a different league from the DM. This is not only due to the size of its market (15 countries with a population of 320 million), but also because the European Union, most of whose members will eventually adopt the Euro, has made no secret of its ambition to become a global actor, not only a regional one as Germany was. The rise of the Euro suggests to participants, whether individuals, firms, or states, that holding Euros might be more profitable than holding Dollars. In fact, according to the latest IMF figures, the share of Dollars in total official reserves... Tue, 15 Apr 2008 12:00 EDT http://www.inquiriesjournal.com/articles/1281/rising-euro-falling-dollar-the-dynamic-of-a-global-monetary-shift http://www.inquiriesjournal.com/articles/1292/change-in-technology-and-its-impact-on-delocalisation-an-illustration-based-on-the-european-financial-industry By Edouard-François De Lencquesaing - Today’s and tomorrow’s worlds are radically different from yesterday’s. Self-evident, yet our thought processes often remain anchored in outdated mindsets. The weight of our success and experience can create “an excess in reasoning that drains our energy” (Erik Orsenna, Voyage aux Pays du Cotton). Globalization is an evolutionary stage in our societies, an evolutionary process that is ancient and at the root of our prosperity. The financial industry does not escape this process and the technological evolution is an accelerator…as was already the case in the... Thu, 01 Nov 2007 12:00 EDT http://www.inquiriesjournal.com/articles/1292/change-in-technology-and-its-impact-on-delocalisation-an-illustration-based-on-the-european-financial-industry http://www.inquiriesjournal.com/articles/1157/where-a-loan-is-better-than-a-gift By Gile Saunders - Most people now know that big development projects serve mainly to make the corrupt wealthy, but can it really be better to lend than to make a gift to a poor woman? This is a hugely complex question and at its heart lie fundamental questions about wealth and poverty. On a recent visit to the UK, Mohammed Yunus founder of the Grameen Bank, described the difference it made to poor women when they were lent small amounts of money. They could work, they could make a profit from their own activity – a loan of the right amount on the right terms was all that was needed. But what a loan... Wed, 01 Jan 1997 12:00 EST http://www.inquiriesjournal.com/articles/1157/where-a-loan-is-better-than-a-gift