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Do U.S. And International Stock Returns Depend On The Presidential Election Cycle Year?, Paul Peragine May 2023

Do U.S. And International Stock Returns Depend On The Presidential Election Cycle Year?, Paul Peragine

Financial Analyst

This paper aims to determine if U.S. and international stock returns are dependent on the U.S. four-year Presidential election cycle (PEC). Additionally, it expands on past literature by confirming past results and extending them to the present. It implements an economic integration variable, which is a measure of how correlated a country is economically to the U.S. The markets that are highly integrated with the U.S. follow a very similar pattern to that of the U.S. PEC, while weakly integrated countries are less likely to follow the U.S. return cycle. A Chow test confirms that economic integration status influences a …


Analyzing The Market Cap Responsiveness To Capital Discipline Policies For Us Oil And Gas Producers, Sampath Srungarum Apr 2023

Analyzing The Market Cap Responsiveness To Capital Discipline Policies For Us Oil And Gas Producers, Sampath Srungarum

Financial Analyst

In this paper, the effect of specific capital discipline policies, capital structure and capital expenditures, is measured. Financial data from 2014 to 2022 are used to measure the impact of capital discipline policies on market cap. Capital structure measured through the debt-to-equity ratio and capital expenditures were both regressed against market cap to determine correlation. The regressions were sorted according to correlation strength and then grouped based off certain firm characteristics: Market cap, Resource produced, Geographical diversity, and level of integration. The results show little to no relationship between the studied characteristics and the level of market responsiveness to the …


Evaluating The Returns Of Emerging Market Mutual Funds, Constantinos (Dean) Athanailos Dec 2022

Evaluating The Returns Of Emerging Market Mutual Funds, Constantinos (Dean) Athanailos

Business/Business Administration

In this paper, the returns of mutual funds invested in emerging markets and the returns of emerging market ETFs are measured. The rates of returns of 133 emerging market mutual funds are taken from the PSN network and the return, risk, and diversification are evaluated for the emerging market mutual funds. The findings are that Southeast Asian countries dominate the proportion of investments for emerging markets. Of the countries invested in, China is the primary country invested in by a large margin. The highest rate of returns was for funds who had invested in India primarily followed by Taiwan and …


The Neurotic Wandering Mind And Self-Efficacy During Training, Mario L. Arredondo Aug 2022

The Neurotic Wandering Mind And Self-Efficacy During Training, Mario L. Arredondo

Legacy Theses & Dissertations (2009 - 2024)

AbstractPersonality is complex and dynamic, and because this attribute consists of a cluster of different distinctive traits, successfully predicting how personality predisposes individuals to different reactions and feelings during a learning activity is an equally complex and challenging task. For this thesis I will focus on the personality trait of low emotional stability, or neuroticism. Previous research has shown that people with lower emotional stability have a predisposition to be more stringent with self-perceptions across different domains of behaviors and feelings. Self-efficacy influences people’s confidence in their ability to exert control over their own behavior and impact their environment, all …


Obstacles To Domestic Retail Investing : Evidence From Mexico, Kenneth Bulko Aug 2022

Obstacles To Domestic Retail Investing : Evidence From Mexico, Kenneth Bulko

Legacy Theses & Dissertations (2009 - 2024)

Despite efforts to improve investment behavior, equity participation worldwide remains low. Researchers have attempted to explain the reluctance to purchase risky assets by seeking to identify the barriers investors face during the investment process. However, past empirical results relied on data often collected as part of a larger investigation and not explicitly centered on barriers to investing. We seek to deepen the understanding of investor behavior with qualitative and qualitative research designed to specifically identify the obstacles typically faced by potential investors, with a particular focus on Mexico.


Performance Analysis Of The “Back-Door” Approach To The Public Market, Britney Ramprasad May 2022

Performance Analysis Of The “Back-Door” Approach To The Public Market, Britney Ramprasad

Financial Analyst

Special Purpose Acquisition Company (SPAC) mergers have significantly better market-adjusted 1-month returns than traditional Initial Public Offerings (IPOs), with no significant differences in the 3-month, 6-month, 12-month horizons after controlling for the size and profitability of the firm. This paper examines the performance of SPAC mergers and traditional IPOs. Stock (common share) returns, and accounting measures are the variables used to categorize the performance of SPAC mergers and traditional IPOs. These variables are examined throughout the data sample from January 2013 to September 2020, with a focus on the 1-month, 3-month, 6- month, and 12-month market-adjusted returns and the gross …


A Risk & Return Analysis Of Esg Focused Etfs, Annamarie Khandji May 2022

A Risk & Return Analysis Of Esg Focused Etfs, Annamarie Khandji

Business/Business Administration

Use of environmental, social and governance (ESG) data about a company or fund in the investment decision making process has increased significantly in the last 15 years. As a result, interest in understanding and analyzing the return potential that funds with high rated ESG scored holdings has grown. This paper examines the return potential ESG focused electronically traded funds (ETF) have, when compared to a conventional ETF and a benchmark. Three funds, including a conventional United States based fund, an ESG focused United States based fund and an ESG focused European based fund as well as the S&P 1500, as …


The Challenge Of Competing In The Retail Domain: A Review Of The Complexities, Strategies, And Results Of Capri Holdings Limited, Jenna Terc May 2022

The Challenge Of Competing In The Retail Domain: A Review Of The Complexities, Strategies, And Results Of Capri Holdings Limited, Jenna Terc

Business/Business Administration

The key to competing in the luxury market is adopting a "differentiation strategy." Since the luxury fashion segment is saturated, standing out from the crowd of other luxury retailers can be the key to organizational survival. In this work, I compare and contrast the strategies and qualitative and quantitative performance of Capri Holdings Limited with those of the Ralph Lauren Corp. The strategy to performance evaluation is based on a 5-point Likert Scale and includes more than 40 points of assessment. At the opposite ends of the scale, 1 represented very poor performance and 5 represented that which was very …


Pandemic Pivot: An Analysis Of How Retail Pharmacies Diversified Their Offerings During The Covid-19 Pandemic, Juliana Hybner May 2022

Pandemic Pivot: An Analysis Of How Retail Pharmacies Diversified Their Offerings During The Covid-19 Pandemic, Juliana Hybner

Business/Business Administration

The COVID-19 pandemic significantly impacted the operating strategy of nearly all businesses open in 2020. Businesses were split into two groups, essential and nonessential. Nonessential business, like gyms, shopping malls, and movie theaters, had little choice in their strategy in the beginning of the pandemic. They had to close. As they reopened, they found creative ways to attract customers without amassing large crowds in their storefronts. Essential businesses, on the other hand were faced with a unique challenge. Serving the U.S. population during their most vulnerable time. Retail pharmacies took on key responsibilities, administering COVID-19 tests and vaccines, while also …


The Impact Of Workplace Racial Harassment On Inclusion And Talent Retention, Katherine Kirkinis May 2022

The Impact Of Workplace Racial Harassment On Inclusion And Talent Retention, Katherine Kirkinis

Legacy Theses & Dissertations (2009 - 2024)

The technology industry is struggling to achieve and retain racial diversity in their talent pools (Pivotal Ventures & McKinsey & Co., 2019; Scott, Klein, & Onovakpuri, 2017). While companies and organizations in recent years have been focused on increasing diversity and decreasing discrimination in the workplace (cf. Cleveland, Shore, Anderson, Huebner, & Sanchez, 2018), organizations do not seem to be making data-driven decisions around diversity and inclusion efforts (Dobbin & Kalev, 2017) and they do not seem to be working ensure positive outcomes for diverse individuals after they are hired (Holvino, Ferdman, & Merrill- Sands, 2004). This study examined the …


When It Hits The Fan, Does Network Management Matter? : A Study On Policy Shocks And The Production And Delivery Of Public Goods And Services By Service Delivery Networks, Jennie Rhodes Law Dec 2021

When It Hits The Fan, Does Network Management Matter? : A Study On Policy Shocks And The Production And Delivery Of Public Goods And Services By Service Delivery Networks, Jennie Rhodes Law

Legacy Theses & Dissertations (2009 - 2024)

EXECUTIVE SUMMARYFor decades public administration and management scholars have conceptualized organizational networks as solutions to failures of markets and hierarchies (see, for example, Goldsmith and Eggers 2005; Osborne and Gaebler 1992). Relationships among organizations or actors within a network are framed positively as channels through which human, financial, and knowledge resources flow to address complex or “wicked” social problems (see, for example, Rittel and Weber, 1973). However, recent scholarship has sought to pull the curtain back and identify the pitfalls of networked arrangements for public service delivery (see, for example, O’Toole & Meier, 2006; O’Toole & Meier, 2004). Such studies …


A Comparison Of Implicit And Explicit Error Detection And Their Effects On Purchase Intention And Judgments Of Quality, Rachel Fernandes Aug 2021

A Comparison Of Implicit And Explicit Error Detection And Their Effects On Purchase Intention And Judgments Of Quality, Rachel Fernandes

Legacy Theses & Dissertations (2009 - 2024)

In an online study of purchase intent based on Chinese menu inspection, explicitly noticing grammatical errors by hotspot click was more detrimental to judgments of quality than implicit detection by error estimation. When they estimated errors in a survey question (ordinal measure), participants who reported many (more than nine) errors had lower purchase intent and ratings of quality compared to those with few (about six) or no errors. However, with the more novel, continuous measure based on hotspot detection, participant purchase intent did not decrease as the number of errors noticed increased. Importantly, there were no differences between the hotspot …


On The Cash Holdings Of Corporate Bond Mutual Funds, Andrew Punnoose May 2021

On The Cash Holdings Of Corporate Bond Mutual Funds, Andrew Punnoose

Financial Analyst

In this research, I examine the impact of cash holdings on the risk and returns of U.S. corporate bond mutual funds. Using a sample of 1,672 corporate bond funds during 2002-2019, I find that higher cash holdings are significantly associated with lower risk-adjusted returns and lower total and idiosyncratic volatilities of corporate bond funds. Further analysis suggests that these results are mainly driven by non-crisis periods when cash holdings might adversely impact the alpha of corporate bond mutual funds while reducing risk for these funds. During the crisis periods, however, we do not document a negative relation between cash holdings …


Information Management For Ualbany Honors College, Katelyn Almon May 2021

Information Management For Ualbany Honors College, Katelyn Almon

Business/Business Administration

Once you attract the best students to your campus, how do you keep them? University honors programs, a common means of attracting students in the competition for excellent students, have had difficulty retaining students in completing their honors education. Given the investment into honors students, strategies to improve outcomes would focus scholarship and teaching resources on some combination of students most likely to complete the program and assist those most likely to drop out. Additionally, by identifying predictors of retention and completion, the Honors College will be able to improve its admissions process to better select students most likely to …


The 2020 Impact: Rethinking Brand Approach To Sustainability Through A Postcolonial And Environmental Justice Framework, Simone Hassan-Bey May 2021

The 2020 Impact: Rethinking Brand Approach To Sustainability Through A Postcolonial And Environmental Justice Framework, Simone Hassan-Bey

Business/Business Administration

Social unrest as a result of a pandemic and the movement for Black lives created a greater demand for big brands to increase their involvement in social responsibility. In this work, I examine the relationship between big brands to their colonial and environmental legacies to analyze how they have historically responded to social justice issues and how it has helped or hindered their journey towards sustainability. My research suggests that these brands may be failing to live up to their social responsibility claims because they struggle to see how the two actors are interconnected, as a result, I offer a …


Development Of An Experimental C2 Utilizing Network Sockets, Jonathan Matza May 2021

Development Of An Experimental C2 Utilizing Network Sockets, Jonathan Matza

Business/Business Administration

Cybersecurity attacks and software used to perpetrate them are constantly evolving in the face of improved methods for detection and mitigation. An important element of cyber-attacks is use of Command & Control (C2) infrastructure to send commands and receive data from targets. A major issue with C2s is how to establish a persistent communication channel from compromised hosts to their server while avoiding detection. This work focuses on the development of a Proof- of-Concept (PoC) for a relatively novel raw-socket based C2 “JT” and includes a discussion of relevant C2 technologies/trends along with their corresponding techniques. The C2 development was …


Perceiving Organization As An Entity : The Relationship Of Entitativity And Organizational Justice Perception, Wei Zhuang Jan 2021

Perceiving Organization As An Entity : The Relationship Of Entitativity And Organizational Justice Perception, Wei Zhuang

Legacy Theses & Dissertations (2009 - 2024)

Entitativity is an important group construct that has received little attention in the organizational psychology literature. The current study based on 343 employed individuals explores the potential role of entitativity perceptions of organizations on the relationship between justice perceptions and employees’ emotional and behavioral reactions. Results of a three-wave survey study suggest that entitativity perceptions are positively associated with employees’ experienced gratitude toward organizations but have no relationship with employees experienced anger toward organizations. In addition, this study provides evidence that positive emotions can mediate the effect of justice perceptions on positive behavioral outcomes, and negative emotions can mediate the …


A Cultural Political Economy Of Corporate Social Responsibility : The Case Of C.I. Uniban S.A. And The Colombian Banana Industry, 1987-2017, David H. Uzzell Jr Jan 2021

A Cultural Political Economy Of Corporate Social Responsibility : The Case Of C.I. Uniban S.A. And The Colombian Banana Industry, 1987-2017, David H. Uzzell Jr

Legacy Theses & Dissertations (2009 - 2024)

This dissertation concentrates on the banana sector in Urabá, Colombia from 1987 to 2017, paying particular attention to C.I. Uniban S.A., the largest and oldest banana marketing and export company in the country, its social foundation, Fundauniban, its marketing subsidiary Turbana Corporation, Agricola Sara Palma S.A. banana producers, and local communities in the region. Through an in-depth, qualitative case-study supported with insights from cultural political economy (CPE), it documents the local and global pressures that forced these actors to adopt and deploy corporate social responsibility (CSR) to upgrade to compete in the global banana market. It makes the case that …


Derivatives Use And Risk Taking: Evidence From Alternative Mutual Funds, Alyse Mcalpine May 2020

Derivatives Use And Risk Taking: Evidence From Alternative Mutual Funds, Alyse Mcalpine

Financial Analyst

I provide new empirical evidence on the effect of derivatives usage on the risk and performance of a group of mutual funds mimicking hedge fund strategies, namely alternative mutual funds (AMFs). Using data on a sample of 914 AMFs from Morningstar during 2002-2017, I show that while the use of derivatives does impact the performance of AMFs, it significantly increases AMFs’ total and idiosyncratic volatilities, even after we control for various fund characteristics. This positive relation between the use of derivatives and the risk-taking of AMFs is particularly strong during the crisis period, and Bear Market, Long-Short Credit, Managed Futures, …


The Use Of Derivatives By Corporate Bond Mutual Funds, Emily Scofield May 2020

The Use Of Derivatives By Corporate Bond Mutual Funds, Emily Scofield

Financial Analyst

This paper examines the use of derivatives by corporate bond mutual funds. Using a sample of 1,657 U.S. corporate bond funds from Morningstar during 2002-2018, I document a significant positive relation between the use of derivatives and corporate bond fund performance, even after controlling various fund characteristics. This relation is mainly driven by investment grade funds, but not high yield funds. Finally, while the positive relation holds for non-crisis periods, the use of derivatives appears to be negatively related to corporate bond fund performance during the crisis period. Overall, the results show that corporate bond funds that use derivatives significantly …


An Examination Of The Financial Sensitivity Of The Defense Industry To Spending Strategies Of The United States Government, Ryan Carr May 2020

An Examination Of The Financial Sensitivity Of The Defense Industry To Spending Strategies Of The United States Government, Ryan Carr

Business/Business Administration

Knowledge of the relationship between the financial performance of firms within the U.S. defense industry and the defense spending decisions by the United States Government is an important domain of research. Greater understanding can enable investors, communities, and employees to make more informed decisions about investments and/or career choices. In this work, I examined the financial statements of five major American defense contractors from 1993-1995, 2003-2005, and 2011-2013. Financial performance of these firms was then correlated with spending actions by the United States Defense Department. Although the financial sensitivity of these firms on spending decisions by the United States Defense …


Negotiations Between Mother Nature And Man's Most Powerful Creation: The Environmental Crisis And The Corporate Paradigm, Drew Zaweski May 2020

Negotiations Between Mother Nature And Man's Most Powerful Creation: The Environmental Crisis And The Corporate Paradigm, Drew Zaweski

Accounting

I came to the University at Albany intending to study accounting. While here I decided to add communication as a minor and was privileged to enroll in courses beyond the scope of, yet still relatable to, accounting. Such courses include the Theory of Organizational Communication, Studies in Public Persuasion - Communication in Professional Contexts, and Conference and Group Leadership all taught by Dr. Patricia Gettings; another was Environmental Economics taught by Mary Mallia. Throughout my time at the University at Albany, one of my favorite educational experiences has been when I am able to make connections between classes and across …


The Moderating Role Of Personality On Person-Organization Fit And Turnover, Jane Park Jan 2020

The Moderating Role Of Personality On Person-Organization Fit And Turnover, Jane Park

Legacy Theses & Dissertations (2009 - 2024)

Two studies were conducted to investigate whether personality traits serve as boundary conditions of the person-organization fit and turnover relationship, and whether continuous commitment may help explain why personality moderates the relationship between person-organization fit and turnover. The first study examines the effect of extraversion, neuroticism, and conscientiousness on the relationship between person-organization fit and turnover. The sample consisted of 1,251 office managers at a large, national organization. The second study follows up on the first study and examines the same relationships. In addition, the second study includes the effect of continuous commitment on the relationship between person-organization fit and …


Impact Of The Global Financial Crisis On Developing And Advanced Countries' Reserve Holdings, Nora Derian May 2019

Impact Of The Global Financial Crisis On Developing And Advanced Countries' Reserve Holdings, Nora Derian

Financial Analyst

The reserve holdings held by the central bank of a country, and more importantly, the changes in those holdings as a percentage of the country’s Gross Domestic Product, can indicate a lot about the financial health of an economy. In this paper, we examine the cross-sectional differences between emerging and advanced economies’ reserve holdings as well as their variations over time, around the global financial crisis of 2008. It is apparent that countries hold reserves for various reasons, primarily for insurance and to attract future investment, and that they are more crucial to emerging economies than developed.


Does Turnover Matter For The Performance Of Fixed Income Etfs?, Philip A. Geleta May 2019

Does Turnover Matter For The Performance Of Fixed Income Etfs?, Philip A. Geleta

Financial Analyst

This paper provides empirical evidence on the relation between portfolio turnover and fund performance in the exchange traded fund market using a sample of 70 actively managed fixed income funds from 2008-2017. Based on portfolio analysis, the results show that there is a significant positive relationship between turnover and Fama and French’s (1993) five factor alpha. Further panel regression analysis, however, shows no significant relationship between turnover and performance after controlling for various fund characteristics. Overall, the results show no robust effect of turnover on the performance of fixed income ETFs.


The Relationship Between Manager Tenure And Corporate Bond Mutual Fund Performance, Matthew Mottes May 2019

The Relationship Between Manager Tenure And Corporate Bond Mutual Fund Performance, Matthew Mottes

Financial Analyst

This paper analyzes the relationship between manager tenure and performance in corporate bond mutual funds, using a sample from Morningstar of 665 funds from 2002-2017. Based on a univariate portfolio analysis and panel regressions, the results show a significant positive relationship between average manager tenure and corporate bond performance generally, regardless of whether performance is measured by raw monthly returns or Fama and French’s (1993) five-factor alpha. However, in the crisis periods, this paper documents a significant negative relationship between average manager tenure and fund performance.


Hedge-Fund-Like Strategies For Retail Investors: Alternative Mutual Funds Vs. Alternative Etfs, Joseph De Santis May 2019

Hedge-Fund-Like Strategies For Retail Investors: Alternative Mutual Funds Vs. Alternative Etfs, Joseph De Santis

Financial Analyst

Hedge fund-like strategies in mutual funds and exchange-traded funds (ETFs) have grown in popularity in the recent decade. This paper examines the value alternative strategies add for retail investors by comparing the performance of alternative ETFs and alternative mutual funds. Using a set of 50 ETFs and 324 mutual funds that offer alternative strategies (such as long/short equity and market neutral from Morningstar Direct) from November 2009 – December 2017. This study finds that alternative mutual funds do not outperform alternative ETFs on a gross return or a net return basis. Several factors have a significant impact on the return …


Smart Speaker Forensics, Steven Engelhardt May 2019

Smart Speaker Forensics, Steven Engelhardt

Business/Business Administration

Devices such as the Google Home and Amazon Echo are great sources of digital evidence and artifacts due to the fact that much of the data these devices generate are stored both locally and in the cloud. For this reason, law enforcement and forensic investigators are not forced to rely on companies such as Google and Amazon to retrieve useful information. In this paper, techniques used to retrieve this information are discussed. Although some of these techniques require an analyst to have an individual’s login credentials, other techniques that focus on the data stored in a user’s phone can be …


You Might Just Surprise Yourself: When Will Consumers Purchase A Surprise Product As A Self-Gift?, Kelly Morrow May 2019

You Might Just Surprise Yourself: When Will Consumers Purchase A Surprise Product As A Self-Gift?, Kelly Morrow

Business/Business Administration

Consumers are becoming increasingly self-oriented in their purchase and consumption behaviors. Self-gifts have proliferated on the market, especially self-gifts that contain an element of surprise, which can be seen with the rise in popularity of subscription boxes. Surprise has been found to enhance the function of self-gifts, but it can also result in post-purchase regret if the surprise did not meet consumer expectations. Typically, individuals consume self-gifts as forms of indulgences, rewards, and as mood-regulatory devices. Based on these findings, this paper examines the relationship between three mood conditions (positive, neutral, and negative) and consumers’ likeliness to purchase a surprise …


Using Social Media Analytics: The Effect Of President Trump’S Tweets On Companies’ Stock Performance, Eric A. Fenn May 2019

Using Social Media Analytics: The Effect Of President Trump’S Tweets On Companies’ Stock Performance, Eric A. Fenn

Accounting

With the recent political development in the United States I was presented with a unique opportunity to examine social media’s influences on the stock market. Specifically, I analyzed the impact of tweets from President Trump’s official Twitter accounts from his election to the office to February 1st, 2019 that targeted a publicly traded company. I find that these tweets have a very minimal effect on companies’ stock prices, but there is a significant effect on the stocks’ trading volumes.