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An Examination Of The Stock Market's Effect On Economic Inequality, Nicholas Golina 2019 The University of Akron

An Examination Of The Stock Market's Effect On Economic Inequality, Nicholas Golina

Honors Research Projects

The economic literature on economic inequality has shown that it can negatively impact aggregate demand because it indicates a higher concentration of wealth in the hands of the top 10% as opposed to the poor and middle class, who are more likely to consume. The literature has identified many factors that can lead to increasing inequality. The stock market could be one of those factors since it can either create an upward redistributive effect towards the top 10% or redistributive effect towards the middle class. This paper tested the effect of the stock market on inequality. This study contributes to ...


Performance Of The Vidya Indicator Using Bootstrap, Lucas Priskos 2018 Utah State University

Performance Of The Vidya Indicator Using Bootstrap, Lucas Priskos

All Graduate Plan B and other Reports

This paper analyses the performance of the Volatility Index Dynamic Average Indicator (VIDYA) as a method for technical trading. The question was whether or not the buy and sell signals generated by VIDYA could allow a trader to outperform the benchmark rate of return. The strategy is implemented in a similar way to a standard moving average crossover where two lines are charted: a short period VIDYA and a long period VIDYA. The four combinations of VIDYA were used were as follows: 6 with 21 periods, 9 with 21 periods, 12 with 21 periods, and 21 with 50 periods. When ...


Analysis Of Stock Price Movement Following Financial News Article Release, Robert P. Schumaker, Nick Maida 2018 University of Texas at Tyler

Analysis Of Stock Price Movement Following Financial News Article Release, Robert P. Schumaker, Nick Maida

Communications of the IIMA

What effect does a financial news article have on stock price? To answer this question we investigate stock price movements within the minutes following financial news releases, broken down by media outlet, time of release and article sentiment. Our data shown a Sharpe ratio (a measure for calculating risk-adjusted return) of 1.18 versus a random dataset of ‑0.06, indicating significant price movement immediately following article release. Second, we found that articles released through WSJ, Reuters – UK Focus, NYT and FT all experienced significant positive returns, whereas articles in Barrons, MarketWatch, Forbes and Bloomberg experienced significant negative returns. Third ...


Eagle Aero Sport: Student-Built Aircraft, Rachael Bradshaw, Nick Bartholet 2018 Embry-Riddle Aeronautical University

Eagle Aero Sport: Student-Built Aircraft, Rachael Bradshaw, Nick Bartholet

Undergraduate Research Symposium - Prescott

Eagle Aero Sport (EAS) is the first student operated aircraft build team at Embry-Riddle Aeronautical University. Our team allows students to gain hands-on experience in all aspects of aircraft production including: aircraft assembly, design engineering, management of production operations, finance, marketing, and team building skills. Through research, and consulting with the Experimental Aircraft Association, our airplane of choice is the Van’s RV-12. EAS is modifying the airplane to add real time flight test instrumentation for research. These instruments will gather data for aerodynamic, structural, as well as aircraft performance experiments. Presently, EAS is progressing with Build Team 60% complete ...


The Creation And Destruction Of The Great American Middle Class (1930-2010), Stanley F. Stasch 2018 Loyola University Chicago

The Creation And Destruction Of The Great American Middle Class (1930-2010), Stanley F. Stasch

School of Business: Faculty Publications and Other Works

This course is an economic history of what happened to ordinary American people and families from about 1930 to 2010.

From the late 1940s to about 1980 ordinary people and families in the United States enjoyed a tremendous increase in their prosperity and quality of life, especially when compared with the conditions that existed during World War II, the 1930s, and before. That prosperity was undoubtedly the highest the world had ever experienced. Because of that, those people are referred to as the great American middle class, and that 30-40 year period witnessed the creation of the great American middle ...


Community Bank Leaders' Perception On Maintaining Values In Decision Making, Jennifer H. Matheny 2018 Liberty University

Community Bank Leaders' Perception On Maintaining Values In Decision Making, Jennifer H. Matheny

Doctoral Dissertations and Projects

This qualitative study explored community bank leaders’ perception of conflicts between their personal values and core corporate values when negotiating critical decisions. At this stage in the research, the negotiating of decisions were generally defined as resolving conflicts between personal and organizational values. Results provide an understanding of how values-based leadership affects executive level decisions in community banks. A purposeful sample of community bank leaders participated in qualitative interviews. These leaders were selected based on their responsibility to make decisions that influenced their corporate culture and/or had a significant impact on their company. Based on the study, there was ...


Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr. 2018 University of Pennsylvania Law School

Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr.

Faculty Scholarship at Penn Law

In this brief essay, to be included in a book celebrating the work of Jay Westbrook, I begin by surveying Jay’s wide-ranging contributions to bankruptcy scholarship. Jay’s functional analysis has had a profound effect on scholars’ understanding of key issues in domestic bankruptcy law, and Jay has been the leading scholarly figure on cross-border insolvency. After surveying Jay’s influence, I turn to the topic at hand: a proposed reform that would facilitate the use of bankruptcy to resolve the financial distress of large financial institutions. Jay has been a strong critic of this legislation, arguing that financial ...


Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula 2018 Johnson & Wales University - Providence

Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula

MBA Faculty Conference Papers & Journal Articles

With the vast array of resources available to instructors, one would think that instruction and teaching would yield success for all learners. Now, well into the 21st century has much changed in the classroom? Certainly, movable desks and chairs, advanced audio and visual equipment, and a plethora of all types of technologies which might be able to enhance training and education. Over the last several decades research on individualized instruction, cognitive science, educational psychology, and multimedia instruction (to name a few) have permeated the literature on instruction. With all the research and the vast array of studies on improving ...


An Examination Of Alternative Trading Techniques Using Intraday Eur/Usd Currency Prices, Brock Vaughters 2018 Liberty University

An Examination Of Alternative Trading Techniques Using Intraday Eur/Usd Currency Prices, Brock Vaughters

Doctoral Dissertations and Projects

Global financial institutions provide a mechanism for multinational corporations to hedge against exchange rate risk via currency futures contracts and spot exchange rates. Currency managers working at these global financial institutions overseeing EUR/USD spot currency traders lack adequate data to determine if alternative trading tools could increase net gains for their respective firms. The purpose of this quantitative study is to examine the net gains from alternative trading techniques that can be utilized by currency managers working for international banks and hedge funds when trading the EUR/USD currency on an intraday basis. A buy and hold strategy, sell ...


How Do Financial Institutions In China Mitigate Risks In Securitization Markets?, Tiantian Lyu 2018 Honors College, Pace University

How Do Financial Institutions In China Mitigate Risks In Securitization Markets?, Tiantian Lyu

Honors College Theses

Asset securitization as the essential financial tool has increased the liquidity of underlying assets and promoted rapid economic development. In 2008, the outbreak of Subprime Mortgage Crisis that brought by the collapse of securitization triggered the U.S. securitization market to realize the risks involved in structured financial products, and thus facilitated the development of risk controlling tools. Through the analysis of securitization process, drivers, and credit rating agencies, the study concentrates on the formation of risks and modeling evaluation with evidence in both China and the U.S. markets. Statistical analysis was conducted on Chinese securitized products combining with ...


Essays In Leveraged Capital Markets, Kenneth D. Ford 2018 University of Arkansas, Fayetteville

Essays In Leveraged Capital Markets, Kenneth D. Ford

Theses and Dissertations

The debt capital markets for leveraged borrowers are ripe with information asymmetry, lender specialization, and borrower segmentation. In this dissertation, I explore how these factors manifest themselves and the economic consequences thereof. Essay 1 shows that adverse selection and moral hazard concerns are inherent in underwriting syndicates that differ in size and number of lead underwriters. Using a nested double selection probit model of syndicate choice, I examine the matching of issuers and underwriters and find that matches of issuer quality and underwriter reputation are positive assortative. Further, switching regressions show that yield spreads reflect uncertainty about the intrinsic values ...


Eqm Investment Research Report, Kaitlyn Berg 2018 Grand Valley State University

Eqm Investment Research Report, Kaitlyn Berg

Honors Projects

The piece includes both an investment research and industry analysis report on EQM, a midstream oil company. Based on the industry environment, valuation metrics, and financial statement analysis, EQM holds a buy recommendation and demonstrates a large potential for growth and strong cash flow returns. The following analysis provides evidence to support this recommendation.


The Effects Of Economic Policy Uncertainty On Common Stock And American Depository Receipts, Bradley David Zynda II 2018 Utah State University

The Effects Of Economic Policy Uncertainty On Common Stock And American Depository Receipts, Bradley David Zynda Ii

All Graduate Plan B and other Reports

Uncertainty can have profound implications on both firms and individuals who hope to optimally make decisions in their best interest. In this research, I seek to examine the impact that economic policy uncertainty has on domestic and foreign stock. In particular, I take a market microstructure perspective focused on stock liquidity and volatility measures in response to changes in economic policy uncertainty. Understanding the directional flow of economic policy uncertainty and the magnitude of the consequences at home and abroad can both help prepare agents to make good decisions about the future and exhort policy makers to be more efficient ...


The Salience Theory Of Consumer Financial Regulation, Natasha Sarin 2018 University of Pennsylvania Law School

The Salience Theory Of Consumer Financial Regulation, Natasha Sarin

Faculty Scholarship at Penn Law

Prior to the financial crisis, banks’ fee income was their fastest-growing source of revenue. This revenue was often generated through nefarious bank practices (e.g., ordering overdraft transactions for maximal fees). The crisis focused popular attention on the extent to which current regulatory tools failed consumers in these markets, and policymakers responded: A new Consumer Financial Protection Bureau was tasked with monitoring consumer finance products, and some of the earliest post-crisis financial reforms sought to lower consumer costs. This Article is the first to empirically evaluate the success of the consumer finance reform agenda by considering three recent price regulations ...


Choosing The Precision Of Performance Metrics, Alan CRANE, Andrew KOCH, Chi Shen WEI 2018 Singapore Management University

Choosing The Precision Of Performance Metrics, Alan Crane, Andrew Koch, Chi Shen Wei

Research Collection Lee Kong Chian School Of Business

There is a standard trade-off in contracts between the provision of incentives and insurance. We hypothesize that this trade-off influences the precision with which firm performance is measured. We find that firm outcomes are measured less precisely when chance plays a large role in these outcomes. Further, this precision is determined through the choice of shares outstanding. This has several novel implications. Nominal stock prices can remain constant over time, and firms with unpredictable cash flows should have more shares and lower stock price levels, all else equal. We find evidence consistent with these implications.


Public Hedge Funds, Lin SUN, Song Wee Melvyn TEO 2018 Singapore Management University

Public Hedge Funds, Lin Sun, Song Wee Melvyn Teo

Research Collection Lee Kong Chian School Of Business

Hedge funds managed by listed firms significantly underperform funds managed by unlisted firms. The underperformance is more severe for funds with low manager deltas, poor governance, and no manager co-investment, or managed by firms whose prices are sensitive to earnings news. Notwithstanding the underperformance, listed asset management firms raise more capital, by growing existing funds and launching new funds post listing, and harvest greater fee revenues than do comparable unlisted firms. The results are consistent with the view that, for asset management firms, going public weakens the alignment between ownership, control, and investment capital, thereby engendering conflicts of interest.


Toward A Model Of Strategic Human Capital Management Using The Balanced Scorecard - An Exploratory Case Study, Jeffrey A. Risinger 2018 University of Texas at Tyler

Toward A Model Of Strategic Human Capital Management Using The Balanced Scorecard - An Exploratory Case Study, Jeffrey A. Risinger

Human Resource Development Theses and Dissertations

The issue of strategic human capital management has been studied and written about extensively over the last 20 years. Much of the focus of this work has addressed the need for internal human resources organizations to transition from transactional, processing organizations to more strategic partner functions addressing the key business needs of the organization. The vast majority of the research addressing this transition has focused on the professional characteristics of senior human resource executives. Whereas the literature presents anecdotal evidence of progress, there also exists consensus support for the idea that very little systemic movement has occurred at the organizational ...


Three Essays On The Financial Capital Markets, Diep Nguyen 2018 The University of Western Ontario

Three Essays On The Financial Capital Markets, Diep Nguyen

Electronic Thesis and Dissertation Repository

This thesis is comprised of three integrated studies highlighting the financial capital markets and corporate finance decisions in response to market conditions.

The first study (Chapter 2) looks at the stock-like/bond-like behavior of Canadian income trusts, in particular how the sensitivities of income trusts’ returns to stock and bond market factors change over time, around different events, and depending on corporate strategy and firm characteristics. We find that income trusts are priced more like bonds compared to matched corporations before a surprise announcement that removes the tax advantage of income trusts (the Tax Fairness Plan announcement), while they become ...


Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert 2018 University of Pennsylvania Law School

Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert

Faculty Scholarship at Penn Law

This working paper surveys the decumulation services offered by investment robo-advisors as a case study with which to examine regulatory and market structure issues raised by automated financial advice. We provide a short introduction to decumulation, describing some of the uncertainties involved in identifying optimal decumulation strategies and sketching a few of the ‘rules of thumb’ that financial advisors have developed in this area in the face of this uncertainty. Next we describe behavioral effects that could inhibit consumers from following an optimal decumulation strategy, concluding that, left to their own devices, consumers are likely to make sub-optimal decumulation decisions ...


Cryptovisor: A Cryptocurrency Advisor Tool, matthew baldree, paul widhalm, brandon hill, matteo ortisi 2018 Southern Methodist University

Cryptovisor: A Cryptocurrency Advisor Tool, Matthew Baldree, Paul Widhalm, Brandon Hill, Matteo Ortisi

SMU Data Science Review

In this paper, we present a tool that provides trading recommendations for cryptocurrency using a stochastic gradient boost classifier trained from a model labeled by technical indicators. The cryptocurrency market is volatile due to its infancy and limited size making it difficult for investors to know when to enter, exit, or stay in the market. Therefore, a tool is needed to provide investment recommendations for investors. We developed such a tool to support one cryptocurrency, Bitcoin, based on its historical price and volume data to recommend a trading decision for today or past days. This tool is 95.50% accurate ...


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