Digital Commons Network^™

Econometric Modeling Of The Public Grazing Fee's Impact On The U.S. Sheep Industry, Ryan C. Feuz

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The U.S. sheep and wool industry is one of the oldest agricultural industries within the country. Since the mid 1940’s the industry has witnessed dramatic annual declines in sheep inventories. Many factors have contributed to the decline of the sheep industry including declining consumption of lamb and mutton, the growth in man-made fiber use, scarcity of labor, and predator losses. The U.S. congress has attempted to slow this decline throughout the years with various policy including the use of wool marketing loan programs. Such programs are intended to help bring stability as well as to mitigate price risk within the …

Options Pricing Through Computational Methods, Robert Petty

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The purpose of this paper is to show the practical application of computational methods to price options. Emphasis is especially given to the use of the Longstaff-Schwartz method for pricing American and exotic options. An implementation of these pricing methods in a computer program are demonstrated. The advantages of using object-oriented programming design patterns to make pricing programs more flexible and useful is also discussed.

The Relationship Between Income Taxes And Market Returns, Chelsea Hepworth

Undergraduate Honors Capstone Projects

This paper investigates the relationship between book to tax differences and market returns. Prior research has been conducted that shows the ability of book to tax differences to predict future earnings, and this study expands that research to see if book to tax differences have predictive value in terms of actual market returns. This study uses a sample of firms from the Compustat database and runs a regression using book to tax differences and company returns as compared to the market. Results show that book to tax differences do have some predictive value which could potentially allow an investor to …

Object-Oriented Programming: A Method For Pricing Options, Leonard Stewart Higham

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

In the world of finance, it’s becoming necessary to obtain computer programming knowledge and experience, a marketable skill that prepares one conduct quantitative analysis. The objective of this thesis is to utilize concepts in finance and computer science together to form a pricing library for financial derivatives, thus, develop a strong skillset in a specific area of financial computational methods. Through implementation of object-oriented programming and specific design patterns in Python, I develop a pricing engine for many types of options, from plain vanilla to unique and complex options, with the focus on the ability to reuse and extend various …

Single Stock Futures And Stock Options: Complement Or Substitutes, Cuyler Strong

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Are single stock futures and stock options complement or substitute goods? In this study, I test this research question by examining option trading activity (option volume and open interest) surrounding an arguably exogenous introduction of single stock futures. This event study provides a natural experiment that allows us to make causal inferences about how the presence of single stock futures affects the options market. While it is commonly thought that single stock futures and options are substitute goods, my evidence instead suggests that they are complements. While I observe very little change in option volume surrounding the introduction of single …

Pre-Holiday Anomaly: Examining The Pre-Holiday Effect Around Martin Luther King Jr. Day, Scott E. Jones

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This paper looks at the 17 years leading up to Martin Luther King Jr. day becoming a non-traded holiday and the 17 years since to see if this exogenous shock to the market resulted in abnormal rates of return on the day before the holiday (known as the pre-holiday effect). I also look to see if evidence of abnormal returns still exists before Christmas and July 4^th during the same time period. I used daily data on the equally-weighted universe of stocks, the value-weighted universe of stocks, and the S&P 500. I find that while there is some evidence …

Reanalyzing The Political Stability Of Britain's Democratization, Nathan R. Burton

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

A recent article in Journal of Economic History by Dasgupta and Ziblatt uses bond yields to analyze the political risk of the 19th century democratization legislation of Britain known as the Reform Acts. Dasgupta and Ziblatt find that the volatility of yields is relatively high during periods of legislation, and model the yields via GAM method, concluding that the political risk associated with the Reform Acts was high. I reproduce the study and comparing those times of 'high' volatility to all periods and find nothing to compare high-volatility periods to, suggesting that it is inconclusive whether the Reform Acts were …

Why Despite Bipartisan Support, The Embargo Against Cuba Won't Go Down Without A Fight, Victoria Scotte Rasmussen

Undergraduate Honors Capstone Projects

Within the past decade, there has been a dramatic shift in American politics. Once considered enemies, the United States and Cuba have reestablished diplomatic relations. The reestablishment of relationships is a surprise to many politicians because Cuba has not made the necessary changes to end the trade embargo put into place by the 1996 Helms-Burton act.

The majority of the friction in ending the embargo is from the Republican Party. While over half the Republicans in the country support ending the embargo, the Republicans in congress are not quite as divided on the issue. Still, some republicans are adamantly in …

Intergenerational Care: A Strategic Approach To Senior Care, Amanda Lundholm Stadel

Undergraduate Honors Capstone Projects

Our society has become increasingly segregated between generations, specifically with senior adults. During the last years of a senior adult's life, he or she may often feel socially isolated which is closely correlated to depression, mental health challenges, and physical decline. These challenges may likely increase considering the number of adults age 65 and older is predicted to double within the next 25 years.

Intergenerational care is an innovative model that combines both child and senior care in a way that bridges the gap between generations. Studies have shown that implementing this model can benefit residents in ways that other …

The Opm Data Breach: Lessons Learned, Michael Wheat

Undergraduate Honors Capstone Projects

In 2015 the federal government announced the largest data breach in United States government history. The Office of Personnel Management (OPM) was hacked, and the personal information of more than 25 million American people was lost to foreign attackers. This incident has spawned concern and outrage about the security of government data in the emerging digital age.

Moving forward from the breach questions remain about how this event happened. It's clear that there were weaknesses that were taken advantage of by malicious threats abroad, and investigations into the attack have yielded surprising results. Not only was the security in place …

Entrepreneurship: The Why And How Of Starting Your Own Business, Braiden Coleman

Undergraduate Honors Capstone Projects

What resources are available to the new entrepreneur? How do I know if my business idea is a good idea? What are the tax advantages of starting your own business? My research answers each of these questions in addition to many other questions the new entrepreneur might have. Part of my research insights were gained by experiential learning: I took a business idea of my own and took it through several key processes such as business idea generation, business model creation, market research, and advertising. I sought to learn more about the resources available to the new entrepreneur. In addition …