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Strategic Implications Of Blockchain, William R. Adams 2018 BYU, Marriott School of Business

Strategic Implications Of Blockchain, William R. Adams

Marriott Student Review

This thesis introduces blockchain, the underlying technology of cryptocurrencies such as Bitcoin, and discusses how best to conceptualize it relative to other technologies. Following an explanation of the fundamentals of blockchain, also known as the distributed ledger, I identify the characteristics of the technology. Building upon blockchain’s inherent strengths and limitations, I explore potential business applications of blockchain. Finally, I recommend that leaders continue to track the development and adoption of blockchain technology, even if they decide that implementing it does not align with their organization’s strategy at present.


Financial Analysis Of Cdw Corporation, Sydney Harris, Nicholas Rumke, Jacob Flynn, Quinton Ranzau, Herbi Miller 2018 Olivet Nazarene University

Financial Analysis Of Cdw Corporation, Sydney Harris, Nicholas Rumke, Jacob Flynn, Quinton Ranzau, Herbi Miller

Scholar Week 2016 - present

CDW Corporation, based in Lincolnshire, Illinois, has been in business for the past 30 years. Over the past five years, the company has gone public and acquired a United Kingdom-based company to expand its international commerce. As an IT re-seller and solution provider to small-, medium-, and large-sized businesses, CDW is able to create comparative advantages against its competition and increase market share. However, the increase in both scale and scope of its operations has come with a worrisome cost, added debt. As a result of our financial analysis for the suitability of an investment, our recommendation is to hold ...


Inclusive Fundraising: Strategies To Qualify, Cultivate, Solicit, And Steward Alumnx Of Color, Brandon Majmudar 2018 University of Vermont

Inclusive Fundraising: Strategies To Qualify, Cultivate, Solicit, And Steward Alumnx Of Color, Brandon Majmudar

The Vermont Connection

Support from alumnx of color is increasingly important to universities due to loftier capital campaigns goal, and ever-increasing university tuition. Analyzing literature on giving patterns of multiple communities of color themes emerge on why alumnx of color do not give back to their alma maters. The issues of alumnx invisibility, trust and tangibility, and the importance of community are central among communities of color and what often inform their desire to donate. When these areas of focus are given the proper attention, universities can change how alumnx of color view the university and increase the significant gift potential of alumnx ...


Predictive Power? Textual Analysis In Mergers & Acquisitions, Philip Morgan 2018 Brigham Young University

Predictive Power? Textual Analysis In Mergers & Acquisitions, Philip Morgan

Undergraduate Honors Theses

Modern corporations utilize mergers and acquisitions as strategies to develop shareholder value today more than ever before, yet the need for understanding firms’ rationale and strategy is critical in predicting post-merger stock performance for all investors. I apply the interpretive power of textual analysis and regression to a corpus of SEC mergers and acquisitions public company filings between 1994-2017. Not only do I challenge the statistically significant correlation between word content and post-transaction abnormal stock returns, but I also characterize the effects of time segments, transaction size, and industry variation across time. As a final application, I consider sentiment analysis ...


Glossary Of Business Evidence, Paul C. Boyd 2018 Johnson & Wales University - Providence

Glossary Of Business Evidence, Paul C. Boyd

MBA Faculty Conference Papers & Journal Articles

No abstract provided.


News From The Graduate School - Masters Of Business Administration, Otterbein University 2018 Otterbein University

News From The Graduate School - Masters Of Business Administration, Otterbein University

Graduate School

Newsletter that provides updates from the Graduate School and the MBA Graduate Program.


Pricing Asian Options: Volatility Forecasting As A Source Of Downside Risk, Adam T. Diehl 2018 James Madison University

Pricing Asian Options: Volatility Forecasting As A Source Of Downside Risk, Adam T. Diehl

Undergraduate Economic Review

Asian options are a class of derivative securities whose payoffs average movements in the underlying asset as a means of hedging exposure to unexpected market behavior. We find that despite their volatility smoothing properties, the price of an Asian option is sensitive to the choice of volatility model employed to price them from market data. We estimate the errors induced by two common schemes of forecasting volatility and their potential impact upon trading.


2018 Private Capital Markets Report, Craig R. Everett 2018 Pepperdine University

2018 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 ...


Do Private Firms Benefit From Trading In The Private Securities Market?, Robert Loveland, Eric Fricke, Sinan Goktan 2018 California State University, East Bay

Do Private Firms Benefit From Trading In The Private Securities Market?, Robert Loveland, Eric Fricke, Sinan Goktan

The Journal of Entrepreneurial Finance

The trading of private securities has recently gained greater visibility and importance with the advent of organized, private security exchanges. This paper uses data on IPO firms that list on the SharesPost private securities exchange platform to examine the potential benefits of a listing. Specifically, we test whether a listing reduces IPO underpricing or enables liquidity provision to firm employees. Controlling for endogeneity, we find no evidence that a pre-IPO listing on SharesPost lessens IPO underpricing. However, we also find that SharesPost-listed companies are able to pay their employees less in cash and more in stock and stock options than ...


2018 Q1 Private Capital Access Index Report, Craig R. Everett 2018 Pepperdine University

2018 Q1 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Graziadio School of Business and Management at Pepperdine University, and with the support of Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Connection, The American College of Financial Services 2018 The American College

Connection, The American College Of Financial Services

Connections

Volume 2

Issue 4


Is Sell-Side Research More Valuable In Bad Times?, Roger LOH, René STULZ 2018 Singapore Management University

Is Sell-Side Research More Valuable In Bad Times?, Roger Loh, René Stulz

Research Collection Lee Kong Chian School Of Business

Because uncertainty is high in bad times, investors find it harder to assess firm prospects and, hence, should value analyst output more. However, higher uncertainty makes analysts’ tasks harder so it is unclear if analyst output is more valuable in bad times. We find that, in bad times, analyst revisions have a larger stock-price impact, earnings forecast errors per unit of uncertainty fall, reports are more frequent and longer, and the impact of analyst output increases more for harder-to-value firms. These results are consistent with analysts working harder and investors relying more on analysts in bad times.


Productivity And The California Global Warming Solutions Act: An Examination Of Cost Of Compliance Utilizing Plant Level Data In The Portland Cement And Manufacturing Industry, Richard Ardito 2018 Liberty University

Productivity And The California Global Warming Solutions Act: An Examination Of Cost Of Compliance Utilizing Plant Level Data In The Portland Cement And Manufacturing Industry, Richard Ardito

Doctoral Dissertations and Projects

This dissertation examined the effect of California environmental regulation, AB32 on the Portland Cement Mining and Manufacturing industry which was directly targeted by the legislation. The researcher examined the effect of productivity on the Portland Cement industry operating within California by comparing changes specific labor and fuel use productivity measures to changes in the same measures for organizations operating outside of California. These differences were examined using an independent sample t-test to determine if any changes were statistically significant. The results showed statistically significant increases in productivity for direct labor, total employee labor, and combustible fuel use when analyzed to ...


Discounting And Digit Ratio: Low 2d:4d Predicts Patience For A Sample Of Females, Diego Aycinena, Lucas Rentschler 2018 Universidad del Rosario

Discounting And Digit Ratio: Low 2d:4d Predicts Patience For A Sample Of Females, Diego Aycinena, Lucas Rentschler

Economics and Finance Faculty Publications

Inter-temporal trade-offs are ubiquitous in human decision making. We study the relationship between preferences over such trade-offs and the ratio of the second digit to that of the forth (2D:4D), a marker for pre-natal exposure to sex hormones. Specifically, we study whether 2D:4D affects discounting. Our sample consists of 419 female participants of a Guatemalan conditional cash transfer program who take part in an experiment. Their choices in the convex time budget (CTB) experimental task allow us to make inferences regarding their patience (discounting), while controlling for present-biasedness and preference for smoothing consumption (utility curvature). We find that ...


Taking The Stress Out Of Money, Kayt E. Frisch 2018 Dordt College

Taking The Stress Out Of Money, Kayt E. Frisch

Faculty Work Comprehensive List

"Here’s a secret: budgeting doesn’t have to be anxiety-inducing. In fact, it shouldn’t be, at least not according to Jesse Mecham in his new book You Need A Budget."

Posting about ­­­­­­­­family finanaces from In All Things - an online journal for critical reflection on faith, culture, art, and every ordinary-yet-graced square inch of God’s creation.

https://inallthings.org/taking-the-stress-out-of-money/


Economic Fundamentals, Capital Expenditures Asset Dispositions, Brent Ambrose, Eva Steiner 2018 Pennsylvania State University

Economic Fundamentals, Capital Expenditures Asset Dispositions, Brent Ambrose, Eva Steiner

Eva Steiner

Research on the disposition effect in real assets to date ignores the active management component of these investments. Active management notably includes decisions about follow-up investment in the form of capital expenditures, as well as dispositions. Using a real option framework, we develop testable hypotheses and provide empirical evidence for the relationships between economic fundamentals, capital expenditures, property values, and the subsequent likelihood of sale. Our results shed new light on the evidence for the disposition effect.


How Does Human Capital Matter? Evidence From Venture Capital, Lifeng Gu, Ruidi Huang, Yifei Mao, Xuan Tian 2018 University of Hong Kong

How Does Human Capital Matter? Evidence From Venture Capital, Lifeng Gu, Ruidi Huang, Yifei Mao, Xuan Tian

Yifei Mao

We investigate the effects of human capital mobility on venture capital (VC) investment and outcomes. To establish causality, we use a difference-in-differences approach that relies on plausibly exogenous variations generated by states' staggered recognition of the inevitable disclosure doctrine (IDD). We _find that a reduction in human capital mobility reduces VCs' investment propensity and successful exit. Further analysis shows that the effects are more pronounced in industries with more high-skilled workers, in industries with higher patenting intensity, and in earlier-stage VC investment. To mitigate the adverse effect of the IDD, VCs stage finance startups more and are more likely to ...


The Role Of Human Capital: Evidence From Patent Generation, Tong Liu, Yifei Mao, Xuan Tian 2018 University of Pennsylvania

The Role Of Human Capital: Evidence From Patent Generation, Tong Liu, Yifei Mao, Xuan Tian

Yifei Mao

Firms exhibit persistence in innovation output. This paper focuses on the role played by individual inventors. Compared to firm organizational capital, human capital embedded in inventors explains a majority of the variation in innovation performance but much less in innovation style. Inventors contribute more when they are better networked, in firms with higher inventor mobility, and in industries in which innovation is more difficult. Additional tests suggest that our main findings are unlikely driven by inventors’ endogenous moving. This paper highlights the importance of human capital in enhancing firm innovation and sheds new light on the theory of the firm.


Public Market Institutions In Venture Capital: Value Creation For Entrepreneurial Firms, Shiyang Huang, Yifei Mao, Cong (Roman) Wang, Dexin Zhou 2018 University of Hong Kong

Public Market Institutions In Venture Capital: Value Creation For Entrepreneurial Firms, Shiyang Huang, Yifei Mao, Cong (Roman) Wang, Dexin Zhou

Yifei Mao

Institutions that traditionally focus on the public equity market are making an increasing number of venture capital (VC) investments in the private market. Examining these investments, we find that an institution-backed entrepreneurial firm is more likely to have a successful exit, either through an IPO or through an acquisition. Meanwhile, these institution-backed entrepreneurial firms tend to be more mature, require higher amount of financing and attract more reputable VC investors. Our baseline results continue to hold in a propensity score matching analysis. Furthermore, there is a strong positive association between prior public equity market performance of an institution and successful ...


Option-Implied Systematic Disaster Concern, Fang Liu Ph.D 2018 Cornell University School of Hotel Administration

Option-Implied Systematic Disaster Concern, Fang Liu Ph.D

Fang Liu

The covariation of option-implied disaster concern of the market index and individual stocks allows me to estimate the conditional and systematic disaster concern of stocks with respect to the market. The estimated conditional and systematic disaster concern variables can be interpreted in terms of the risk-neutral conditional disaster probabilities, and they strongly predict future realizations of stock-level disasters and stock returns in different market states. This suggests that the comovement of option prices between stocks and the market index carries forward-looking information on their joint tail distributions.


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