Variables affecting government debt: A comparison of certificates of participation, tax -exempt revenue bonds and tax -exempt general obligation bonds

This dissertation analyzed and compared variables affecting interest rate and yield of certificates of participation, tax-exempt revenue bonds and tax-exempt general obligation bonds. The study employed qualitative and quantitative analysis methods. ^ Qualitative research methods included surveys, interviews and focus groups. The survey solicited debt load information from 67 Florida school districts (21 responded) and addressed the question which districts used certificates of participation and why. Eight individuals with experience dealing with all three debt instruments were interviewed. A follow-up focus group of six school district financial officers gathered additional data. Results from the qualitative methods revealed school districts used certificates of participation based on millage authority amount available relative to overall tax base. Also identified was the belief of a significant difference in certificates of participation costs and the other two debt instrument types. ^ The study's quantitative methods analyzed 1998 and 1999 initial issues of Moody's AAA rated certificates of participation, tax-exempt revenue bonds and tax-exempt general obligation bonds. Through an analysis of covariance (ANCOVA), the study examined interest rates and yields while controlling for the covariates of credit enhancement, issue size, and maturity date. The analysis identified no significant difference between interest rates of certificates of participation and tax-exempt general obligation bonds (p < 0.05). There was a significant difference between interest rates of tax-exempt revenue bonds and tax-exempt general obligation bonds. This study discerned no significant difference between yield on certificates of participation and tax-exempt general obligation bonds. It identified a difference in yield between both certificates of participation and tax-exempt general obligation bonds compared with tax-exempt revenue bonds. ^ The study found COPs to have lesser overall costs than RV bonds. COPs also have a quicker entry into the market resulting in construction cost savings. The study found policy implications such as investment portfolio limitations and public choice issues about using COPs as a mechanism to grow government. ^

Three-dimensional brain fiber tracking modeling in diffusion tensor imaging

This dissertation establishes the foundation for a new 3-D visual interface integrating Magnetic Resonance Imaging (MRI) to Diffusion Tensor Imaging (DTI). The need for such an interface is critical for understanding brain dynamics, and for providing more accurate diagnosis of key brain dysfunctions in terms of neuronal connectivity. ^ This work involved two research fronts: (1) the development of new image processing and visualization techniques in order to accurately establish relational positioning of neuronal fiber tracts and key landmarks in 3-D brain atlases, and (2) the obligation to address the computational requirements such that the processing time is within the practical bounds of clinical settings. The system was evaluated using data from thirty patients and volunteers with the Brain Institute at Miami Children's Hospital. ^ Innovative visualization mechanisms allow for the first time white matter fiber tracts to be displayed alongside key anatomical structures within accurately registered 3-D semi-transparent images of the brain. ^ The segmentation algorithm is based on the calculation of mathematically-tuned thresholds and region-detection modules. The uniqueness of the algorithm is in its ability to perform fast and accurate segmentation of the ventricles. In contrast to the manual selection of the ventricles, which averaged over 12 minutes, the segmentation algorithm averaged less than 10 seconds in its execution. ^ The registration algorithm established searches and compares MR with DT images of the same subject, where derived correlation measures quantify the resulting accuracy. Overall, the images were 27% more correlated after registration, while an average of 1.5 seconds is all it took to execute the processes of registration, interpolation, and re-slicing of the images all at the same time and in all the given dimensions. ^ This interface was fully embedded into a fiber-tracking software system in order to establish an optimal research environment. This highly integrated 3-D visualization system reached a practical level that makes it ready for clinical deployment. ^

Perceptions of underprepared community college students regarding their educational achievement

The purpose of this study was to understand the perceptions of underprepared college students who had participated in learning communities and who persisted to complete developmental classes and earned at least 30 college-level credit hours to graduate and the perceptions of their peers who had dropped out of college. The theories posed by Tinto, Astin, and Freire formed the framework for this case study. The 22 participants were graduates or transfer students now attending a public university, currently-enrolled sophomores, and students no longer enrolled at the time of the study. Semi-structured individual interviews and a group interview provided narrative data which were transcribed, coded, and analyzed to gain insights into the experiences and perspectives of the participants. The group interview provided a form of member checking to increase accuracy in interpreting themes. A peer reviewer provided feedback on the researcher’s data analysis procedures. The analysis yielded four themes and 14 sub-themes which captured the essence of the participants’ experiences. The pre-college characteristics/traits theme described the students’ internal values and attributes acquired prior to college. The external college support/community influence theme described the encouragement to attend college the students received from family, friends, and high school teachers. The social involvement theme described the students’ participation in campus activities and their interactions with other members of the campus. The academic integration theme described students’ use of campus resources and their contacts with the faculty. The persisters reported strong family and peer support, a sense of responsibility, appreciation for dedicated and caring faculty, and a belief that an education can be a liberatory means to achieve their goals. The non-persisters did not report having the same sense of purpose, goal orientation, determination, obligation to meet family expectations, peer support, campus involvement, positive faculty experiences, and time management skills. The researcher offers an emerging model for understanding factors associated with persistence and three recommendations for enhancing the academic experience of underprepared college students: (a) include a critical pedagogy perspective in coursework where possible, (b) integrate co-curricular activities with the academic disciplines, and (c) increase student-faculty interaction.

Seismic performance of hybrid fiber reinforced polymer-concrete pier frame systems

As an alternative to transverse spiral or hoop steel reinforcement, fiber reinforced polymers (FRPs) were introduced to the construction industry in the 1980’s. The concept of concrete-filled FRP tube (CFFT) has raised great interest amongst researchers in the last decade. FRP tube can act as a pour form, protective jacket, and shear and flexural reinforcement for concrete. However, seismic performance of CFFT bridge substructure has not yet been fully investigated. Experimental work in this study included four two-column bent tests, several component tests and coupon tests. Four 1/6-scale bridge pier frames, consisting of a control reinforced concrete frame (RCF), glass FRP-concrete frame (GFF), carbon FRP-concrete frame (CFF), and hybrid glass/carbon FRP-concrete frame (HFF) were tested under reverse cyclic lateral loading with constant axial loads. Specimen GFF did not show any sign of cracking at a drift ratio as high as 15% with considerable loading capacity, whereas Specimen CFF showed that lowest ductility with similar load capacity as in Specimen GFF. FRP-concrete columns and pier cap beams were then cut from the pier frame specimens, and were tested again in three point flexure under monotonic loading with no axial load. The tests indicated that bonding between FRP and concrete and yielding of steel both affect the flexural strength and ductility of the components. The coupon tests were carried out to establish the tensile strength and elastic modulus of each FRP tube and the FRP mold for the pier cap beam in the two principle directions of loading. A nonlinear analytical model was developed to predict the load-deflection responses of the pier frames. The model was validated against test results. Subsequently, a parametric study was conducted with variables such as frame height to span ratio, steel reinforcement ratio, FRP tube thickness, axial force, and compressive strength of concrete. A typical bridge was also simulated under three different ground acceleration records and damping ratios. Based on the analytical damage index, the RCF bridge was most severely damaged, whereas the GFF bridge only suffered minor repairable damages. Damping ratio was shown to have a pronounced effect on FRP-concrete bridges, just the same as in conventional bridges. This research was part of a multi-university project, which is founded by the National Science Foundation (NSF) - Network for Earthquake Engineering Simulation Research (NEESR) program.

Secondary school inclusion rates: The relationship between the training and beliefs of school site principals and the implementation of inclusion

Programs require strong support and guidance from those in leadership positions to ensure proper implementation (Fullen, 2001). Consequently, school site principals must rely on the training they have received to support them in making appropriate decisions. It is the school site principal’s leadership that is pivotal in the success of students with disabilities (DiPaola & Walther-Thomas, 2003; Monteith, 2000). In fact, the principal has a moral obligation to provide an environment that supports social justice in schools (Grogan & Andrews, 2002). The inclusion of students with disabilities does just that—it ensures that these students are not segregated to a “separate but equal” education. This study utilized a participant survey to collect data on principals’ beliefs and training in special education. This information was compared to the percentage of time students with disabilities spent with their non-disabled peers in the principals’ respective schools. An analysis was conducted to identify if a linear relationship exists between the selected variables and the inclusion percentages. Open-ended questions were included in the original survey which allowed for a thematic analysis of the responses. These responses were utilized to allow participants to further express their thoughts on the identified variables. Results indicated that there were no statistically significant relationships identified between the beliefs and training of secondary school site principals and the percentage of time that their students in special education spend with their non-disabled peers. Although the original research questions were not supported, further post hoc analysis indicated that the results obtained did support that the principals believed inclusion had a social benefit to students. Additional investigation into the academic benefits of inclusion is still needed. In addition, principals who indicated that they had some type of training in special education indicated a higher percentage that the individual student should be the focal point when making placement decisions. These results support the need for further research in the area of principal preparation programs and their relationships to the daily practice of school site principals.

Cultural perceptions of space and place in the South Florida *environment

Public opinion polls in the United States reveal that a great majority of Americans are aware and show concern about ecological issues and the need to preserve natural areas. In South Florida, natural resources have been subjected to enormous strain as the pressure to accommodate a growing population has led to rapid development. Suburbs have been built on areas that were once natural wetlands and farmlands, and the impact today shows a landscape where natural places have all but disappeared. This dissertation examines the intersection between the perceptions that individuals living in the South Florida region have with respect to the natural environment and local ecological problems with where their relationship to nature takes place. ^ The research is based upon both quantitative and qualitative data. The principal methodology used in this research is the ethnographic method, which employed the data gathering techniques of in-depth interviewing and participant observation. The objective of the qualitative portion of the study was to determine how people perceive and relate to their immediate environment. The quantitative portion of the study employed telephone survey data from the FIU/Florida Poll 2000. Data collected through this survey provided the basis to statistically test responses to the research questions. ^ The findings show that people in South Florida have a general idea of the relationship between the human population and the environment but very little knowledge of how they individually affect each other. The experience of private places and public spaces in everyday life permits people to compartmentalize cultural values and understandings of the natural world in separate cognitive schemas. The appreciation of the natural world has almost no connection to their personal sense of obligation to preserve the environment. That obligation is only felt in their home space even though the South Florida environment overall struggles desperately with water shortages, land encroachment, and a rapidly expanding human population whose activities continuously aggravate an already delicate natural balance. ^

Three essays on the economics of defense contracting, output and income inequality

This dissertation analyzes both the economics of the defense contracting process and the impact of total dollar obligations on the economies of U.S. states. Using various econometric techniques, I will estimate relationships across individual contracts, state level output, and income inequality. I will achieve this primarily through the use of a dataset on individual contract obligations. ^ The first essay will catalog the distribution of contracts and isolate aspects of the process that contribute to contract dollar obligations. Accordingly, this study describes several characteristics about individual defense contracts, from 1966-2006: (i) the distribution of contract dollar obligations is extremely rightward skewed, (ii) contracts are unevenly distributed in a geographic sense across the United States, (iii) increased duration of a contract by 10 percent is associated with an increase in costs by 4 percent, (iv) competition does not seem to affect dollar obligations in a substantial way, (v) contract pre-payment financing increases the obligation of contracts from anywhere from 62 to 380 percent over non-financed contracts. ^ The second essay will turn to an aggregate focus, and look the impact of defense spending on state economic output. The analysis in chapter two attempts to estimate the state level fiscal multiplier, deploying Difference-in-Differences estimation as an attempt to filter out potential endogeneity bias. Interstate variation in procurement spending facilitates utilization of a natural experiment scenario, focusing on the spike in relative spending in 1982. The state level relative multiplier estimate here is 1.19, and captures the short run, impact effect of the 1982 spending spike. ^ Finally I will look at the relationship between defense contracting and income inequality. Military spending has typically been observed to have a negative relationship with income inequality. The third chapter examines the existence of this relationship, combining data on defense procurement with data on income inequality at the state level, in a longitudinal analysis across the United States. While the estimates do not suggest a significant relationship exists for the income share of the top ten percent of households, there is a significant positive relationship for the income share of top one percent households for an increase in defense procurement.^

Solving the mystery of Guanxi-a sociological explanation of social exchange and social networking in Guanxi practice

Guanxi, loosely defined as "inter-personal relations" or "personal connections," is one of the key socio-cultural concepts in understanding Chinese society. This thesis presented a theoretical examination of the Chinese socio-cultural concept of guanxi. By using a broad survey of the available literature, this thesis established the following points: Social structures shape and define the development of guanxi practice in Chinese society. Guanxi relationships are based on the social exchange of gifts and favors in dyadic or multi-stranded social networks. While following the general rules of reciprocity found in social exchange, guanxi exchange is also governed by the internalized social norms such as mianzi (face) and renqing (humanized obligation underpinned by human sentiment). Guanxi relationships are also network-oriented, featuring ties based on familiarity and mutual trust, and characterized by an interplay between expressiveness and instrumentalism.

Three Essays on the Economics of Defense Contracting, Output and Income Inequality

This dissertation analyzes both the economics of the defense contracting process and the impact of total dollar obligations on the economies of U.S. states. Using various econometric techniques, I will estimate relationships across individual contracts, state level output, and income inequality. I will achieve this primarily through the use of a dataset on individual contract obligations. The first essay will catalog the distribution of contracts and isolate aspects of the process that contribute to contract dollar obligations. Accordingly, this study describes several characteristics about individual defense contracts, from 1966-2006: (i) the distribution of contract dollar obligations is extremely rightward skewed, (ii) contracts are unevenly distributed in a geographic sense across the United States, (iii) increased duration of a contract by 10 percent is associated with an increase in costs by 4 percent, (iv) competition does not seem to affect dollar obligations in a substantial way, (v) contract pre-payment financing increases the obligation of contracts from anywhere from 62 to 380 percent over non-financed contracts. The second essay will turn to an aggregate focus, and look the impact of defense spending on state economic output. The analysis in chapter two attempts to estimate the state level fiscal multiplier, deploying Difference-in-Differences estimation as an attempt to filter out potential endogeneity bias. Interstate variation in procurement spending facilitates utilization of a natural experiment scenario, focusing on the spike in relative spending in 1982. The state level relative multiplier estimate here is 1.19, and captures the short run, impact effect of the 1982 spending spike. Finally I will look at the relationship between defense contracting and income inequality. Military spending has typically been observed to have a negative relationship with income inequality. The third chapter examines the existence of this relationship, combining data on defense procurement with data on income inequality at the state level, in a longitudinal analysis across the United States. While the estimates do not suggest a significant relationship exists for the income share of the top ten percent of households, there is a significant positive relationship for the income share of top one percent households for an increase in defense procurement.

Perceptions of Underprepared Community College Students regarding their Educational Achievement

The purpose of this study was to understand the perceptions of underprepared college students who had participated in learning communities and who persisted to complete developmental classes and earned at least 30 college-level credit hours to graduate and the perceptions of their peers who had dropped out of college. The theories posed by Tinto, Astin, and Freire formed the framework for this case study. The 22 participants were graduates or transfer students now attending a public university, currently-enrolled sophomores, and students no longer enrolled at the time of the study. Semi-structured individual interviews and a group interview provided narrative data which were transcribed, coded, and analyzed to gain insights into the experiences and perspectives of the participants. The group interview provided a form of member checking to increase accuracy in interpreting themes. A peer reviewer provided feedback on the researcher’s data analysis procedures. The analysis yielded four themes and 14 sub-themes which captured the essence of the participants’ experiences. The pre-college characteristics/traits theme described the students’ internal values and attributes acquired prior to college. The external college support/community influence theme described the encouragement to attend college the students received from family, friends, and high school teachers. The social involvement theme described the students’ participation in campus activities and their interactions with other members of the campus. The academic integration theme described students’ use of campus resources and their contacts with the faculty. The persisters reported strong family and peer support, a sense of responsibility, appreciation for dedicated and caring faculty, and a belief that an education can be a liberatory means to achieve their goals. The non-persisters did not report having the same sense of purpose, goal orientation, determination, obligation to meet family expectations, peer support, campus involvement, positive faculty experiences, and time management skills. The researcher offers an emerging model for understanding factors associated with persistence and three recommendations for enhancing the academic experience of underprepared college students: (a) include a critical pedagogy perspective in coursework where possible, (b) integrate co-curricular activities with the academic disciplines, and (c) increase student-faculty interaction.

Seismic Performance of Hybrid Fiber Reinforced Polymer-Concrete Pier Frame Systems

As an alternative to transverse spiral or hoop steel reinforcement, fiber reinforced polymers (FRPs) were introduced to the construction industry in the 1980's. The concept of concrete-filled FRP tube (CFFT) has raised great interest amongst researchers in the last decade. FRP tube can act as a pour form, protective jacket, and shear and flexural reinforcement for concrete. However, seismic performance of CFFT bridge substructure has not yet been fully investigated. Experimental work in this study included four two-column bent tests, several component tests and coupon tests. Four 1/6-scale bridge pier frames, consisting of a control reinforced concrete frame (RCF), glass FRP-concrete frame (GFF), carbon FRP-concrete frame (CFF), and hybrid glass/carbon FRP-concrete frame (HFF) were tested under reverse cyclic lateral loading with constant axial loads. Specimen GFF did not show any sign of cracking at a drift ratio as high as 15% with considerable loading capacity, whereas Specimen CFF showed that lowest ductility with similar load capacity as in Specimen GFF. FRP-concrete columns and pier cap beams were then cut from the pier frame specimens, and were tested again in three point flexure under monotonic loading with no axial load. The tests indicated that bonding between FRP and concrete and yielding of steel both affect the flexural strength and ductility of the components. The coupon tests were carried out to establish the tensile strength and elastic modulus of each FRP tube and the FRP mold for the pier cap beam in the two principle directions of loading. A nonlinear analytical model was developed to predict the load-deflection responses of the pier frames. The model was validated against test results. Subsequently, a parametric study was conducted with variables such as frame height to span ratio, steel reinforcement ratio, FRP tube thickness, axial force, and compressive strength of concrete. A typical bridge was also simulated under three different ground acceleration records and damping ratios. Based on the analytical damage index, the RCF bridge was most severely damaged, whereas the GFF bridge only suffered minor repairable damages. Damping ratio was shown to have a pronounced effect on FRP-concrete bridges, just the same as in conventional bridges. This research was part of a multi-university project, which is founded by the National Science Foundation (NSF) Network for Earthquake Engineering Simulation Research (NEESR) program.