Corporate Finance Commons^™

The Effect Of Pcaob Inspections On Corporate Innovation: Evidence From Deficiencies About The Valuation Of Intangibles, Jungbae Kim

Research Collection School Of Accountancy

I examine the economic consequences on corporate innovation when PCAOB inspections cite auditors for insufficient procedures in auditing the valuation of intangibles. I find that the clients of deficient auditors recognize larger and timelier impairments of intangibles, suggesting that affected auditors increase scrutiny about the valuation of intangibles in subsequent audits. This effect obtains only for valuation-related deficiencies and is salient for the clients of auditors who receive such deficiencies repeatedly. I also document real effects that the clients of deficient auditors exhibit less use of external mergers and acquisitions—which yield recognizable intangibles whose valuation is subject to increased auditor …

Correlation Between Interest Rates And Bank Mergers, Maren Egging

Honors Theses

This paper examines the relation between macroeconomic factors and bank mergers and acquisitions from 1995 to 2022. I build upon the work of Etsy et al. (1994) to determine an updated analysis of how interest rates and stock market returns may influence merger activity in the banking segment. Using a dataset of 1,153 large bank mergers, I perform correlation analyses to draw three main conclusions. Firstly, bank mergers demonstrate weaker correlations with key macroeconomic variables than industrial mergers. Secondly, I observe material differences from the work of Etsy et al. with what appears to be significant changes in underlying relations. …

2024 Private Capital Markets Report, Craig R. Everett

Pepperdine Private Capital Markets Report

The Pepperdine private cost of capital survey was originally launched in 2007 and is the first comprehensive and simultaneous investigation of the major private capital market segments. This year’s survey specifically examined the behavior of senior lenders, asset-based lenders, mezzanine funds, private equity groups, venture capital firms, angel investors, privately-held businesses, investment bankers, business brokers, limited partners, and business appraisers. The Pepperdine survey investigated, for each private capital market segment, the important benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today’s economic …

Impact Of Esg Ratings On Company Stock Price Returns, Benjamin Mccormick

Honors College Theses

ESG, Environmental, Social, Governance, is a new business philosophy that asserts that businesses have a duty to the environment, their communities, and to act legally and ethically. ESG rating agencies are built around grading public companies on their fulfillment of these objectives. Critics of ESG cite that ESG dilutes the primary purpose of business, to create value for shareholders. This paper uses regression analysis to test whether these perspectives are mutually exclusive. With stock returns as the dependent variable and ESG ratings as the dependent variable of interest, this paper finds a slight correlation between lower returns and companies in …

Financial Assessment Of Executive Decision-Making And Risk Management: A Case Study Of Autozone, Carolina Hollis

Honors Theses

This area of investigation pertains to the business organizational structure, executive summary, and risk management decisions of AutoZone within the 2022-2023 fiscal year. This analysis was performed by examining previous financial records, the yearly 10-K report, and various research databases regarding the financial performance of retail auto part companies. Many different sources were used to gather information about AutoZone. AutoZone has an intricate financial system that maintains the going concern by addressing current issues within the financial world to combat problems they could face in the future. These risk factors include inflation, interest rates, energy prices, political climates, and supply …

Huic Purchasing Group Llc. Business Plan, Grant Hull

Honors Theses

This business plan investigates the feasibility and best strategy to start a dental group purchasing company in the market today. Methods used consisted of interviewing industry professionals (Dentists, suppliers, and executives in a similar market), and market research through public information and trends. The 70 total interviews not only helped verify market projections and social trends, but also verified potential client willingness to join and verified a position in the market. Through this study it was concluded that: There is limited competition in the dental Group Purchasing Organization (GPO) space; to enter the market in a cost-effective way it is …

In-Depth Examination Of Financial Accounting: Case Studies Analysis, Gurpreet Singh

Honors Theses

This thesis is a collection of different accounting case studies over 2 semesters. There are eleven cases that make up this thesis including. There are various topics involved in all these cases including: 102 Minutes that Changed America, Design Your Life – Atlanta, Excel Crash Course, Financial Implications of Covid-19 on Pfizer, Important Influencer Interview – Vince Chamblee, Case Competition – Overview, Case Competition – Audit, Case Competition – Tax, Case Competition – Advisory, Case Competition – Risk, Case Competition – Presentation. All the cases over the two semesters proved to be a great learning for me. Case VI through …

A 360-Degree Approach To Accounting, Kaleel Salloum Iii

Honors Theses

This thesis consists of one year of research related to the modern day accounting and financial industry. There are numerous topics that are covered, with the first four sections being related to one company’s financial statements and operating conditions. Each of these sections includes their own abstract that outlines the scope of the research. The remaining parts of the thesis are topics, events, and industries related to modern day accounting. This research was completed and submitted to the faculty of The University of Mississippi in partial fulfillment of the requirements of the Sally McDonnell Barksdale Honors College.

A Financial Valuation Of Comcast (Cmcsa), Lucas Marcinkowski

Honors Thesis

The current valuation of the global entertainment and media industry revenue is $2.32 trillion. When investing in the entertainment and media industry, individuals think of the fame and glamorous side of the entertainment industry. However, the industry is fiercely competitive and continuously evolving. Through examining the historical financial statement of the publicly traded media and technology conglomerate Comcast, as well as its competitors, I forecasted the future financial valuation of Comcast utilizing the Discounted Free Cash Flow and Public Comparable Firm Multiples models. This analysis examines the effects of the pandemic and other economic conditions on the entertainment and media …

Esg Performance And Firm Risk In The U.S. Financial Firms, Jooh Lee, Rachel Koh

Rohrer College of Business Departmental Research

This study examines the association between the environmental, social, and governance (ESG) performance and firm risk in U.S. financial firms. We find a significant negative association between the composite ESG performance and total, idiosyncratic, and systematic risks after controlling for firm and year fixed effects and other risk predictors. We also examine the effect of each pillar of ESG on this relationship and find that “S” and “G” exhibit a significant negative relationship with both systematic and idiosyncratic risks of firms, while “E” is only associated with systematic risk. Lastly, we demonstrate that ESG performance is negatively associated with the …

Moving Forward: Automating A Walmart Executive View From Existing Manual Financial Systems, Alexandra Rosen

Finance Undergraduate Honors Theses

Walmart, the largest retail giant globally, is a company that needs no introduction. Headquartered in Bentonville, Arkansas, it has become synonymous with retail innovation and efficiency. Last summer, I had the unique opportunity to immerse myself in Walmart’s culture and the world of finance and accounting through Walmart's Accounting and Finance Development Program (AFDP) internship. This analysis examines my summer in the program and applies my experience to the importance of in-person office work.

Bidding Strategy For A Wind Power Producer In Us Energy And Reserve Markets, Anne Stratman

Department of Electrical and Computer Engineering: Dissertations, Theses, and Student Research

Wind power is one of the world's fastest-growing renewable energy resources and has expanded quickly within the US electric grid. Currently, wind power producers (WPPs) may sell energy products in US markets but are not allowed to sell reserve products, due to the uncertain and intermittent nature of wind power. However, as wind’s share of the power supply grows, it may eventually be necessary for WPPs to contribute to system-wide reserves. This paper proposes a stochastic optimization model to determine the optimal offer strategy for a WPP that participates in the day-ahead and real-time energy and spinning reserve markets. The …

Accounting And Finance Internship Thesis, Peyton Fair

Finance Undergraduate Honors Theses

During the summer of 2023, I had the opportunity to intern for ten weeks at Walmart Inc. in the Accounting and Finance Development Program (AFDP). The AFDP internship provides participants with hands-on training and experience in various areas of accounting and finance within Walmart. Participants work in various business areas across Walmart US, Walmart International, Sam's Club, and Walmart Inc.

In the summer of 2023, there were 38 AFDP interns representing 18 different universities. The AFDP internship provides opportunities for interns to attend networking events, interact with executives, and receive feedback on their performance through evaluations. This program aims to …

Project Foresight Annual Report, 2022-2023, Paul J. Speaker

Faculty & Staff Scholarship

Project FORESIGHT is a business-guided self-evaluation of forensic science laboratories across the globe. The participating laboratories represent local, regional, state, and national agencies. Economics, accounting, finance, and forensic faculty provide assistance, guidance, and analysis. Laboratories participating in Project FORESIGHT have developed standardized definitions for metrics to evaluate work processes, linking financial information to work tasks, and functions. Laboratory managers can then assess resource allocations, efficiencies, and value of services—the mission of Project FORESIGHT is to measure, preserve what works, and change what does not.

The benchmark data for the 2022-2023 performance period includes laboratory submissions for a variety of fiscal …

Bank Board Diversity, Esg Activities, And Bank Risk-Taking, Hassan Bataineh

LSU New Orleans Theses and Dissertations

In the past decade, there has been growing interest in the influence of diverse boards on risk management, particularly with regard to environmental risk management. However, limited evidence exists on the role of diverse boards in policy decisions, especially the adoption of green credit policy in the banking sector. Drawing on critical mass theory, this study investigates the importance of board gender diversity and the critical mass of women directors that could make a positive impact of green credit policy adoption for global banks. Data was collected for 540 banks operating in 34 countries, covering ten years (2013-2022). The study …

Finance And Artificial Intelligence, Luke Schawang

Theses/Capstones/Creative Projects

The integration of artificial intelligence (AI) into finance represents a significant evolution in the industry, one that has been ongoing for years but is now accelerating rapidly. This paper explores the various forms and functions of AI, from reactive machines to the potential for superintelligence, and examines its impact on banking, business finance, and investing.

In banking, AI has bolstered cybersecurity and fraud detection, leveraging machine learning algorithms to continuously improve accuracy and efficiency. Similarly, in business finance, AI tools like chatbots and algorithms streamline processes, enhance productivity, and reduce costs. In investing, AI-driven solutions such as robo advisors offer …

Lockheed Martin Strategic Audit, Trevor Deboer, Gunnar Lombard, Sam Nelson, Tj Taylor, Paul Wynegar

Honors Program: Senior Projects (Public)

Abstract

This case study explores Lockheed Martin, a global leader in defense contracting. Our team performed a strategic audit using the theories of strategic management. Our research was pulled from various sources, including Lockheed Martin’s website, SEC filings, related news articles, and relevant industry analysis. The goals of this case study revolved around collecting data and performing analysis to evaluate Lockheed Martin’s potential for competitive advantage in the airplane and parts manufacturing industry.

Some of the various analyses performed on Lockheed Martin include firm analysis, industry analysis, internal analysis, external analysis, competitive dynamics, business-level strategy, corporate-level strategy, and exploring their …

Corporate Technological Patent And Financing Accessibility - An Empirical Analysis Based On Startups, Tao Xu

Dissertations and Theses Collection (Open Access)

Technological innovation is not only central to competition among firms but also a crucial driver of economic growth. The process of corporate technological innovation often demands substantial financial support. However, due to information asymmetry and capital constraints, tech startups encounter numerous obstacles in sustaining innovation. Venture capital is instrumental in fostering continuous corporate innovation, providing essential financial support for innovative activities, and playing a key role in achieving core technological breakthroughs. As a significant manifestation of corporate innovative technology, patents can mitigate the information asymmetry between startups and investors by creating a positive patent signal from diverse perspectives. Therefore, investigating …

Lululemon Strategic Audit, Tessa Mozingo, Olivia Eno, Molly Mitchell, Connor Morrissey, James Eshleman

Honors Program: Senior Projects (Public)

This case study focuses on lululemon, a prominent athleisure apparel company. Our team conducted an audit of the company revolving around strategic business management principles. Our research used publicly available information that included the company’s website, SEC filings, news articles, lululemon’s annual reports, financial statements, IBIS industry reports, and online sources. The goal of this strategic audit is to develop an understanding of lululemon’s business activities and strategies, collect and analyze both internal and external data, and evaluate lululemon based on strategic management concepts.

In this strategic audit, we conduct internal, external, performance, and competitive analyses and an examination of …

Jp Morgan Chase Strategic Analysis, Carson Swartzbaugh

Honors Program: Senior Projects (Public)

JP Morgan Chase is an American financial institution that touches all sides of the financial sector, including commercial banking, consumer banking, investment banking, and asset management, to name a few. JP Morgan Chase is the largest American Bank and a global leader in the financial industry. A PESTEL analysis of JP Morgan Chase and the financial sector of the United States will give an overall view of the industry while providing critical insight into the opportunities and challenges faced by JP Morgan Chase and its competitors. Additionally, Porter’s Five Forces will focus on the competitive environment in which JP Morgan …