Institutional Scholarship :: Browsing by Author "Jilani, Saleha"

Browsing by Author "Jilani, Saleha"

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Access to Healthcare and its Effect on Educational Outcomes: A Case Study of Kenya
(2013) Koffer, Alec; Jilani, Saleha
This paper investigates whether access to healthcare is a major factor affecting educational outcomes in Kenya. Using ordinary least squares and probit analysis, I estimate the impact of mosquito bed nets, health insurance, vaccinations, and distance to the nearest health facility (hospital, health centre and dispensary) on total years of schooling and school enrollment of children ages 6-18. The key finding of this paper is that access to healthcare plays a significant role, greater than that of even building a new school, on the child’s level of education. The main conclusion of this paper is that building more lower level health facilities, specifically dispensaries, may be one of the most effective policies to improve educational outcomes in Kenya.
Analyzing Restaurant Industry Sales: Full Service vs. Limited Service Restaurants in America’s Top 100 Cities
(2011) Leeds, Jason; Jilani, Saleha
This article uses two ordinary least squares regressions controlling for market characteristics, demographic characteristics, and health-consciousness in America’s 100 most populated cities from 1997 and 2007 to determine the relative influence of the factors on the demand for limited-service and full-service restaurants. Using many of the same independent variables from prior research, this paper looks to find empirical evidence that reinforced market research that suggests a migration away from limited-service restaurants due to rising health-consciousness and increasing competition from grocery stores’ and full-service restaurants’ take-away offerings.
Analyzing the Relationship between Terrorism and Tourism: An Examination of Europe
(2018) Koch, Greta Elisabeth; Jilani, Saleha; Gaus, Eric
This study analyzes the effects of terrorism on tourism in European countries and reaffirms previous literature that shows a statistically significant negative and lagged relationship between terrorism and tourism, while expanding the scope to countries in Europe and using contemporary data. An ordinary least squares regression using data from 2007 to 2016 finds that tourist arrivals decrease by approximately 0.013% to 0.016% in ten, eleven, and twelve months after a terrorist attack. However, the level of violence associated with terrorist attacks does not appear to impact tourists’ decisions given there is no statistical significance surrounding these variables. Rather, tourists seem to change their travel decisions given a past history of terrorist attacks regardless of the level of violence.
Assessing Changes in Land and Fertilizer Use as a Result of Biofuel Production in the US
(2009) van Opstal, James; Jilani, Saleha
The biofuel industry in the US has experienced rapid growth in recent years, in part fueled by government incentives, which has led several academics to conduct cost-benefit analyses on biofuels. In this paper, I focus in on the issue of changes in land and fertilizer use as a cost of increasing biofuel production. I first employ a model to analyze the effects of fuel ethanol production as well as several related factors on different land use types and fertilizer use. Then, I use the results of that model to illustrate the negative environmental effects of increasing biofuel production. Finally, I expand the results of this paper out into the broader cost-benefit framework. One of the important conclusions of this paper is that the negative impacts of biofuel production on the environment are important costs that should be incorporated into both cost-benefit analyses and policymakers’ decisions.
Banking Competition and Access to Finance in Developed Countries
(2013) Shao, Yolanda Yue; Jilani, Saleha
This paper explores the association between banking competition and firms’ access to finance in developed countries using three measures of banking sector competition – the three bank concentration ratio, the Herfindahl–Hirschman Index and the H-statistic, with two different regression techniques – the ordered probit and the ordered logit model. Using firm-level data for 12 developed countries, I find that the three proxies give consistent results with both models: higher degrees of competition in the banking sector are associated with greater access to credit for firms in lower income developed countries, which supports the market power hypothesis. In contrast, more banking competition leads to less access to finance in developed countries with higher levels GDP per capita, which supports the information hypothesis. This result is robust to the inclusion of additional control variables. Moreover, Small and Medium Enterprises (SMEs) face more financing obstacles as compared to large corporations, ceteris paribus. SMEs also tend to benefit more than large firms when a developed country with low GDP per capita increases its banking contestability.
Can Firms Be Both Profit and Purpose-Driven? An Empirical Analysis Using Environmental, Social, Governance (ESG) Scores and The Sharpe Ratio
(2020) Kong, David; Jilani, Saleha; Mudd, Shannon
This paper explores whether firms can do good while doing well. Given the explosive growth of literature with disparate findings on this topic, this analysis focuses on whether the relationship between profit and purpose is one of trade-off or complementarity. Using Environmental, Social, and Governance (ESG) scores and annual Sharpe ratios from Thomas Reuter Eikon, this study employs various firm and time fixed effects regressions to examine a potential causal relationship at the firm level. Since the average retail investor is not well-diversified, rather than focusing on abnormal returns (determined by deviations from CAPM expected return), this paper adopts the Sharpe ratio as a more realistic and comprehensive performance proxy. Furthermore, this paper isolates the three individual ESG dimensions and examines their effects on performance separately. Initial specifications find that ESG scores are positively correlated with the Sharpe ratio, with the governance score driving most of the positive changes. However, after normalizing Sharpe ratios with annual market average Sharpe ratios, ESG scores become negatively correlated with the Sharpe ratio, with the environmental score driving most of the negative changes. This suggests that perhaps firms cannot be both profit and purpose-driven. Companies face a trade-off between maximizing financial and non-financial purpose goals. Future research should focus on the causal mechanisms and channels of how ESG scores affect performance.
Determining the Effects of Leasing on the Product Life Cycle: An Empirical Analysis of US Midsized Car Models
(2015) Galaz, David; Jilani, Saleha
I investigate the effects of leasing on the sales period of midsized car models in the US. I believe that leasing is an indicator of demand and has an influence on car manufacturers, which in turn lengthen the sales period through increased production. Using survival analysis, I determine the effects of time-varying covariates on the hazard or exit rate of a sample of car models. By isolating the effect of leasing from sales, I expect to find a positive effect on the sales period via a negative effect on the exit rate. In this manner, I hope to incentivize firms to lease their products and encourage product quality and remarketing, thus promoting sustainability in the market.
Do Private Equity Firms and Hedge Funds Have A Strategic Advantage in the Automotive Industry?
(2008) Larson, Brandon; Jilani, Saleha
This paper explores whether there is a benefit, in ex-post operating performance and profitability, to a private equity buyout in the automotive industry. I also investigate whether there is a difference in performance of private equity firms in the earlier wave of buyouts and the current wave of buyouts. I find there is a significant difference in operating performance and profitability in the first and second wave relative to control firms. I further find that the first wave of buyouts has an unclear effect on the performance of the firms, while in the new wave of buyouts there is a clear benefit to a private equity buyout.
Does Capital Punishment Save Lives? An Examination of the Deterrent Effect of Capital Punishment
(2008) Nguyen-Thanh, Mai-khoi; Jilani, Saleha
This paper employs fixed and random effects regressions to analyze panel data from the 50 states and Washington, D.C., between the years of 1980 and 2005, to estimate the relationship between the death penalty and homicide rate, and the degree to which this relationship affects crime outcomes. Controlling for a number of economic and demographic characteristics, the results of the fixed and random effects models suggest that there exists a negative, statistically significant relationship between the dependent variable, homicides/100,000 in the population, and the independent variable of interest, the number of executions. The results from an alternative specification, where the independent variable of interest is an execution dummy variable, suggest that it is not the presence of executions that deters homicides, but the actual executions that has a depressing effecting on homicide rate. A final model estimates the relationship between law enforcement officer murders and the number of executions in a given state, in a given year. This model yields shows no statistically significant relationship between the number of executions and the number of law enforcement officer deaths.
E-commerce and Taobao Villages in China: Impact on Provincial Rural Development
(2021) Shi, Hayley; Jilani, Saleha
E-commerce has gradually become an essential part of people's daily life. Part of the e-businesses in China involve producers/households in rural areas selling agricultural products or manufacturing daily supplies to urban areas, which provides better ways for rural people to make profits. This thesis estimates the effect of the ratio of Taobao villages (formed by clusters of e-businesses in rural areas) on rural per capita disposable income and urban-rural consumption gaps in a province as to measure how e-commerce growth impacts rural development in China more broadly. Using macroeconomic provincial data from 2010-2019, I estimate OLS and fixed effects regressions to test this relationship. Results indicate that the percentage of Taobao villages in a province is positively correlated with an increase in rural disposable income per capita. In addition, the presence of Taobao villages narrows the gap between consumption levels in rural and urban areas. However, this economic improvement occurs faster and is more pronounced in more Taobao-village-abundant provinces.
Economic Growth and Types of Foreign Direct Investment: Disaggregating by Industry, and Greenfield vs. M&A FDI
(2020) Yan, Kevin; Jilani, Saleha
This thesis examines how different types of FDI affect economic growth. Specifically, I explore whether FDI inflows into various industries are associated with differential economic growth rates, and if M&A FDI has a different effect than Greenfield FDI on per capita GDP growth rates. Analysis conducted using cross-country panel data between 2000-2016 indicates that FDI inflows into the farming, construction, and manufacturing industries are positively correlated with economic growth rates, whereas FDI inflows in the professional service and the recreation & hospitality industries are negatively correlated with economic growth. Moreover, I find that M&A FDI has a significant and positive effect on economic growth while greenfield FDI has an ambiguous effect on economic growth. These results are robust to measures of financial market development, other determinants of economic growth, and country and year fixed effects.
Educational Attainment Outcomes of Native Dane and 2nd Generation Immigrant Children
(2016) Grunden, Rachel; Jilani, Saleha
The rising population of immigrants and their children in Denmark in the last two decades has led to an increase in policy measures aimed at their integration into Danish society. Rather than examining labor market integration, this thesis aims to measure integration through educational attainment outcomes, particularly the completion of upper secondary school – an accomplishment important for access to and success in higher education and the labor market. Descendant or 2nd generation immigrant children, born in Denmark to immigrant parents, pass through the same schooling system as their native counterparts. As a result, it would be assumed that their educational attainment outcomes are similar as opposed to their immigrant peers who were born outside of the country. Nevertheless, a gap in the educational attainment of native and descendant children exists, although it appears to be narrowing. I find the most significant factors contributing to educational attainment to be the mother’s level of education – specifically whether or not she has completed upper secondary school. I do not find significant results on the parent employment variables. I also find significant gender differences, with males having generally lower educational attainment. These results may suggest the implementation of policy measures aimed at bettering the education of immigrants rather than focusing strictly on employment.
Environmental, Social, and Governance (ESG) Scores and Firm Profitability Across Countries and Sectors: An Empirical Analysis
(2021) Thissen, Emily; Jilani, Saleha
This paper explores the relationship between a firm's Environmental, Social, and Governance (ESG) score, and its profitability across sectors and countries. More specifically, this work aims to understand if European and Asian firms see a greater or lesser effect of ESG Score on profits relative to firms in the United States. This work also explores whether certain componentsof the ESG scores (environmental, social, or governance) have a more significant impact on profitability inspecific sectors. Using ESG score and firm financial data from Thomson Reuter's Eikon and control variables for firm size, risk, and industry, a three-part analysis was run. An initial analysis of the ESG combined score and the individual pillar scores and gross profit relationship is conducted using OLS regression and time and firm fixed effects regression analysis. Next, to understand how geographic region plays a role in the correlation between firm ESG score and financial performance, OLS regressions are run using regional dummy variables and interaction terms between regional dummy variables and ESG score. Lastly, this thesis explores how the ESG score-gross profit relationship varies across industries using interaction terms between the industry dummy variable for each industry with the ESG score variable. The results suggest a positive relationship between ESG score and gross profit, with varying effects for different pillars. The most significant effect was on the environmental pillar. The results also show that European firms see a greater correlation between financial performance and higher ESG scores than United States firms. The analysis of Asian firms did not show a more significant relationship between financial performance and higher ESG scores compared to the United States. Across sectors, results varied. This suggests a clear direction for future research in understanding the relationship between more disaggregated industrial categories and different components of the ESG score. This thesis offers new insights into regional and cross-sector differences in the effect of both combined ESG score and the individual ESG pillar scores.
Evaluating Health Expenditure Effectiveness: Does Political Structure Play a Role?
(2016) Gould, Christina; Jilani, Saleha
Improving health outcomes is a top priority for governments across the world. This thesis evaluates the question what effects do health expenditures, public versus private, have on the health outcome of a country’s population? Additionally, does a country’s political structure have an effect on health outcomes? A comprehensive measure of health outcomes, the Disability-Adjusted Life Year (DALY), is used to assess the importance of different types of health expenditures on health outcomes. Effects vary by country income groups. Higher health expenditures are negatively correlated with health outcomes in high-income countries, while positively affecting health outcomes in lower middle and low-income countries. In particular, government expenditures in preventative health care are the most effective forms of health expenditures for lower middle and low-income countries. Higher levels of democracy are correlated with better health outcomes in upper middle-income countries. Policy implications include more resources devoted to government health spending in lower middle and low-income countries, while measures to improve effectiveness of health expenditures in high-income countries may be needed.
FIBA Rankings and International Basketball Competitions: Does NBA Experience Matter?
(2012) Ahn, Andrew; Jilani, Saleha
Basketball has increasingly become a global sport. Recent trends have pointed to a large influx of foreign players in the NBA. This paper explores the impact foreign basketball players who play in the NBA have on their home country’s performance during international competition. Utilizing FIBA rankings to measure international performance, I use ordinary least squares (OLS) and fixed effects regression to analyze the performance of 30 countries for a 22-year period, between 1989-2011. The results show that the number of foreign players a country sends to NBA has both statistical and economic significance. Under OLS regressions, NBA experience, hosting major competitions, and country-specific variables were significant and had positive effect on FIBA Rankings. These findings were the same controlling for time trends. Under fixed effects analysis, our experience variables became insignificant while the number of foreign players remained a significant factor, suggesting that not only the quality but also quantity of players a country has is important for performing well during major international competitions such as the Olympics.
Heterogeneous National Allocation Plans in the EU Emission Trading Scheme under Imperfectly Competitive Markets
(2009) Minnice, Paul; Jilani, Saleha
This paper extends a model by Ehrhart et al (2008) which examines duopoly under the EU Emission Trading Scheme, analyzing the effect of emissions permit price changes on firm profits. While their model assumes no initial allocation of permits to firms, the extension presented here incorporates heterogeneity in national allocation plans of pollution permits into the analysis. We find that, unlike Ehrhart et al, there are certain circumstances where a permit price increase will unambiguously lead to a rise in profit due to the initial allocation of permits. Because national allocation plans differ across member nations in the EU, these differing allocations have the potential to advantage some firms in the EU if they receive more permits than other firms. In addition, while Ehrhart et al (2008) state that at some point there may be an incentive to lobby for a lower allocation of permits, in this extension we find that while that incentive may exist, there also may be an incentive to lobby for more permits.
How Did Varying Forms of Democratic Government Affect Economic Growth in Asia?
(2015) Yi, Thomas; Jilani, Saleha
The unresolved debate of whether democracy promotes economic growth continues among political scientists and economists. This thesis focuses on the specific forms of executive government in democratically elected systems, to examine their relationship with economic growth. The empirical analysis in the paper examines three varying forms of democratic government – parliamentarism, semi-presidentialism, and presidentialism – to test their impact on economic growth in Asia during the period 1960 to 2001. Using three regression strategies (OLS panel-corrected standard error, country fixed effects, and two-stage least squares country fixed effects), the results indicate that varying forms of democratic government do not seem to have a significant effect on economic growth, measured by real GDP per capita, in the Asian economies examined over this period. These findings are in keeping with mixed results reported in the literature, on the interplay of political systems and various factors contributing to economic growth.
Improving Corporate Governance: Board Composition, Ownership Structure and the Principal-Agent Problem
(2010) Lawrence, David; Jilani, Saleha
The principal-agent problem in corporate governance is a well documented issue. Effects include corporate misbehavior, which can result in crippling consequences for a country’s economy and for the many investors affected by the equity markets. This work examines the mechanisms for aligning manager (agent) and shareholder (principal) interests. In doing so, the role of board composition and ownership structure in providing incentives for managers and executives which maximize shareholder objectives is scrutinized. We find that some level of executive power, in the form of moderate replacement costs, is necessary for optimal firm performance.
Industrial Organization Case Study of the Indian Information Technology Industry
(2005) Raju, Josemon; Jilani, Saleha
This is an industrial organization study of the Indian IT industry. It specifically examines the software and IT services sectors. There will be limited focus on the domestic IT industry and on the hardware sector. This is because the industry is export focused, and also because the hardware sector revenues are minor relative to the revenues from the “software and services” sector. The Indian IT industry is an attractive area of study for a few reasons: To begin with, it is an emerging industry. This offers excellent opportunities to study an industry as it matures. Secondly, the Indian IT industry is growing at a swift pace, estimated to be between 20-40% a year. Additionally, the IT industry growth has functioned as a catalyst for political and economic changes in India. Any study of an emerging industry must offer the following caveat: There is generally a paucity of accurate data. Therefore, as new information becomes available, our understanding of the industry may change. This is especially true of the Indian IT industry because government records, regulations, and laws have yet to catch up with its immense growth. Furthermore, most firms tightly guard sales figures, as proprietary information. As corporate governance becomes more transparent, and government records are organized, much more accurate information should be available in the future. Finally, this paper is written with the hope that it inspires others to take a closer look at an industry that this author feels is simply aweinspiring in its potential, and in its ability to bring humanity closer to one another.
International Comparisons of Labor Productivity Growth: The Role of Worker Protection
(2011) Zoidis, Elizabeth; Jilani, Saleha
This study investigates the impact of policies and institutions promoting worker protection on labor productivity growth in an attempt to explain the recent divergence in labor productivity growth between the United States and the European Union. A cross-country/time series fixed effects analysis is conducted for the US and 13 member countries of the EU over the period 1980-2003. The average direct effects of wage coordination, union coverage, and employment protection legislation (EPL) on labor productivity growth are found to be negative and significant, which suggests that higher levels of worker protection are detrimental to labor productivity growth. Wage centralization and union density also exert a negative impact on labor productivity growth, but the impacts of these two measures of worker protection are not found to be significant. The examination of interactions between all policies and institutions produces results which are consistent with the theory of reform complementarity, meaning that the effect of each interaction term is found to be positive even though the effects of the individual policies and institutions included in the term are all negative. Specifically, given high enough levels of worker protection, the interactions between wage centralization and union coverage and between wage coordination and EPL were both significant and showed a positive impact on labor productivity growth.

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