Wireless E911 Emergency Communications Fund Iowa Homeland Security and Emergency Management Division of the Iowa Department of Public Defense independent auditor's reports, basic financial statements and supplementary information, June 30, 2006.

Audit report on the Wireless E911 Emergency Communication Fund of the Iowa Homeland Security and Emergency Management Division of the Iowa Department of Public Defense for the year ended June 30, 2006

Audit report on the Iowa Department of Public Safety for the year ended June 30, 2006

Audit report on the Iowa Department of Public Safety for the year ended June 30, 2006

Report on a review of selected general and application controls over the Iowa Public Employees’ Retirement System (IPERS) Benefits Administration System for the period April 23, 2007 through May 16, 2007

Report on a review of selected general and application controls over the Iowa Public Employees’ Retirement System (IPERS) Benefits Administration System for the period April 23, 2007 through May 16, 2007

Three essays in dynamic corporate finance

Summary Throughout my thesis, I elaborate on how real and financing frictions affect corporate decision making under uncertainty, and I explore how firms time their investment and financing decisions given such frictions. While the macroeconomics literature has focused on the impact of real frictions on investment decisions assuming all equity financed firms, the financial economics literature has mainly focused on the study of financing frictions. My thesis therefore assesses the join interaction of real and financing frictions in firms' dynamic investment and financing decisions. My work provides a rationale for the documented poor empirical performance of neoclassical investment models based on the joint effect of real and financing frictions on investment. A major observation relies in how the infrequency of corporate decisions may affect standard empirical tests. My thesis suggests that the book to market sorts commonly used in the empirical asset pricing literature have economic content, as they control for the lumpiness in firms' optimal investment policies. My work also elaborates on the effects of asymmetric information and strategic interaction on firms' investment and financing decisions. I study how firms time their decision to raise public equity when outside investors lack information about their future investment prospects. I derive areal-options model that predicts either cold or hot markets for new stock issues conditional on adverse selection, and I provide a rational approach to study jointly the market timing of corporate decisions and announcement effects in stock returns. My doctoral dissertation therefore contributes to our understanding of how under real and financing frictions may bias standard empirical tests, elaborates on how adverse selection may induce hot and cold markets in new issues' markets, and suggests how the underlying economic behaviour of firms may induce alternative patterns in stock prices.

Audit report on Iowa Public Television for the year ended June 30, 2007

Audit report on Iowa Public Television for the year ended June 30, 2007

Audit report on KCCK-FM Radio, a public telecommunications entity operated by Kirkwood Community College in Cedar Rapids, Iowa for the year ended June 30, 2007

Audit report on KCCK-FM Radio, a public telecommunications entity operated by Kirkwood Community College in Cedar Rapids, Iowa for the year ended June 30, 2007

Cost system design and cost management in the Spanish public sector

Cost systems have been shown to have developed considerably in recent years andactivity-based costing (ABC) has been shown to be a contribution to cost management,particularly in service businesses. The public sector is composed to a very great extentof service functions, yet considerably less has been reported of the use of ABC tosupport cost management in this sector.In Spain, cost systems are essential for city councils as they are obliged to calculate thecost of the services subject to taxation (eg. waste collection, etc). City councils musthave a cost system in place to calculate the cost of services, as they are legally requirednot to profit , from these services.This paper examines the development of systems to support cost management in theSpanish Public Sector. Through semi-structured interviews with 28 subjects within oneCity Council it contains a case study of cost management. The paper contains extractsfrom interviews and a number of factors are identified which contribute to thesuccessful development of the cost management system.Following the case study a number of other City Councils were identified where activity-based techniques had either failed or stalled. Based on the factors identified inthe single case study a further enquiry is reported. The paper includes a summary usingstatistical analysis which draws attention to change management, funding and politicalincentives as factors which had an influence on system success or failure.

Diversity and regional inequalities: Assessing the outcomes of the Spanish 'System of Health Care Services'

The consolidation of a universal health system coupled with a process of regionaldevolution characterise the institutional reforms of the National Health System(NHS) in Spain in the last two decades. However, scarce empirical evidence hasbeen reported on the effects of both changes in health inputs, outputs andoutcomes, both at the country and at the regional level. This paper examinesthe empirical evidence on regional diversity, efficiency and inequality ofthese changes in the Spanish NHS using cross-correlation, panel data andexpenditure decomposition analysis. Results suggest that besides significantheterogeneity, once we take into account region-specific needs there is evidenceof efficiency improvements whilst inequalities in inputs and outcomes, althoughmore visible , do not appear to have increased in the last decade. Therefore,the devolution process in the Spanish Health System offers an interesting casefor the experimentation of health reforms related to regional diversity butcompatible with the nature of a public NHS, with no sizeable regionalinequalitiest.

Does privatising public service provision reduce accountability?

This paper studies how privatising service provision (shifting control rights and contractualobligations to providers) affects accountability. There are two main effects. (1) Privatisation demotivates governments from investigating and responding to public demands, since providers then hold up service adaptations. (2) Privatisation demotivates the public from mobilising to pressure for service adaptations, since providers then indirectly holdup the public by inflating the government s cost of implementing these adaptations. So, when choosing governance mode, politicians may be biased towards privatising as a way to escape public attention; relatedly, privatising utilities may reduce public pressure and increase consumer prices.

Comprehensive Annual Financial Report (CAFR) of the Iowa Public Employees Retirement System (IPERS) for the fiscal year ended June 30, 2007

Comprehensive Annual Financial Report (CAFR) of the Iowa Public Employees Retirement System (IPERS) for the fiscal year ended June 30, 2007

Audit report on the Heart of Iowa Regional Transit Agency, Des Moines, for the year ended June 30, 2007

Audit report on the Heart of Iowa Regional Transit Agency, Des Moines, for the year ended June 30, 2007

Special investigation of the Area XV Regional Planning Commission located in Ottumwa, Iowa for the period July 1, 2000 through June 30, 2006

Special investigation of the Area XV Regional Planning Commission located in Ottumwa, Iowa for the period July 1, 2000 through June 30, 2006

Audit report on the South Central Iowa Regional E-911 Service Board for the year ended June 30, 2007

Audit report on the South Central Iowa Regional E-911 Service Board for the year ended June 30, 2007

Management information systems: The balanced scorecard in Spanish public universities

Organisations are becoming increasingly aware of the need for management information systems, due largely to the changing environment and a continuous process of globalisation. All of this means that managers need to adapt the structures of their organisations to the changes and, therefore, to plan, control and manage better. The Spanish public university cannot avoid this changing (demographic, economic and social changes) and globalising (among them the convergence of European qualifications) environment, to which we must add the complex organisation structure, characterised by a high dispersion of authority for decision making in different collegiate and unipersonal organs. It seems obvious that these changes must have repercussions on the direction, organisation and management structures of those public higher education institutions, and it seems natural that, given this environment, the universities must adapt their present management systems to the demand by society for the quality and suitability of the services they provide.