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Full-Text Articles in Business

The Effect Of Low Skill Job Opportunities On Postsecondary Enrollment, Mallory Radesic Jan 2021

The Effect Of Low Skill Job Opportunities On Postsecondary Enrollment, Mallory Radesic

Williams Honors College, Honors Research Projects

This research examines the effect that low skill job opportunities have on the probability of enrollment in postsecondary institutions between men and women, namely the construction and manufacturing industries. The research is based on the human capital investment theory, which states that individuals will enroll in postsecondary institutions when the perceived benefits outweigh the costs. More job opportunity heightens the opportunity cost of enrollment, hence lowering the probability of enrollment. After running a probit model, there is evidence that enrollment is countercyclical and that enrollment decisions do not vary significantly between men and women. I find that a 1 percent ...


Small Business Lending And Social Capital: Are Rural Relationships Different?, Robert Deyoung, Dennis Glennon, Peter J. Nigro, Kenneth Spong May 2020

Small Business Lending And Social Capital: Are Rural Relationships Different?, Robert Deyoung, Dennis Glennon, Peter J. Nigro, Kenneth Spong

The Journal of Entrepreneurial Finance

We test whether rural versus urban location, and the amount of social capital present in those locations, influence the performance of Small Business Administration (SBA) 7(a) loans originated between 1984 and 2012. On average, we find that rural loans are about 11% less likely to default than urban loans, and that a standard deviation increase in social capital reduces default by about 5%. Surprisingly, these two effects are largely independent of each other, even though social capital is substantially higher in rural places than in urban places. Our findings advance the small business lending literature and offer insights for ...


Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker May 2020

Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker

Honors Theses

Agglomeration economies have gained special attention in recent decades. With the increasing connectivity of our world, specialized regional economies are stronger now than ever before. A specific agglomeration economy that has developed in recent years is the Georgia Film Industry. This region surpassed Hollywood as the premier filming location for the first time since the early 1900s when New York was number one. This thesis analyzes the reasons why Georgia was so successful in attracting the film industry and encouraging its development by comparing infrastructure, film tax incentives, population, and labor development to that of competing states like New York ...


Stock Market Drivers: Corporate Share Repurchases, Parker Wolf May 2020

Stock Market Drivers: Corporate Share Repurchases, Parker Wolf

Business and Economics Honors Papers

Such financial tools as share buybacks are coming under scrutiny by many investment experts. Evidence suggests that share repurchases foster a short-term focus in corporate managers who have a share-based compensation. Recent studies and research draw attention to the negative consequences of corporate share repurchases. While share buybacks were originally intended to create financial value for intrinsically undervalued shares, they are increasingly coming under scrutiny for enabling shareholders to increase their value of wealth at the expense of other stakeholders. With increased stock option plans for corporate executives, the association between increase in open market share buyback activity and compensation ...


Is Tuition Free College The Golden Ticket? A Time Series Analysis Of Germany’S Higher Education Policy, 1990-2017, Hannah Wolfram May 2020

Is Tuition Free College The Golden Ticket? A Time Series Analysis Of Germany’S Higher Education Policy, 1990-2017, Hannah Wolfram

Business and Economics Honors Papers

Countries which have been able to offer free tertiary education are being applauded while the United States tries to find a way to rectify its high tertiary education costs. Germany has accomplished a system of subsidized higher education since the 1950s, making it seem highly successful. In order to investigate the potential benefits of subsidized higher education, this study uses a time series regression analysis to investigate the relationship between tertiary unemployment rate and public spending as a share of the Gross Domestic Product (GDP) in Germany over the period 1990-2017. The regression analysis corrected for multi-collinearity and serial correlation ...


Consumer Response To Corporate Social Responsibility (Csr) At Bridgewater College, Abenezer Tekle May 2020

Consumer Response To Corporate Social Responsibility (Csr) At Bridgewater College, Abenezer Tekle

Honors Projects

With the development of multinational companies (MNCs), corporate social responsibility (CSR) has become a very important component of corporate strategic plan. This study provides preliminary evidence that consumer response about the CSR behavior of Multinational Corporation are determined by different factors. In order to identify and measure the effects of CSR behavior on consumer response, I used quantitative research by creating an online survey to analyze three objectives. Nike was specifically included in the survey due to its popularity on college campuses. The results show that knowledge/awareness of CSR have some meaningful influence on millennial purchasing behavior; however, extensive ...


Shattering Glass Ceilings: Where Are All Of The Women In Finance?, Rebecca Schubach May 2020

Shattering Glass Ceilings: Where Are All Of The Women In Finance?, Rebecca Schubach

Business and Economics Honors Papers

At a time when women are equally represented in professional fields such as medicine and academia, the finance industry is still facing a lack of gender diversity, most notability at the C-Suite level. Statistics on the paucity of women paint a bleak picture, despite the fact that women are awarded majority of undergraduate and graduate degrees in the United States, a reversal from just one generation ago. This begs the question, what is deterring women from a career in finance? Are compensation discrepancies at play? This paper seeks to examine if being a female truly penalizes a woman in regards ...


Non-Linear Modifications Of Black-Scholes Pricing Model With Diminishing Marginal Transaction Cost, Kaidi Wang May 2020

Non-Linear Modifications Of Black-Scholes Pricing Model With Diminishing Marginal Transaction Cost, Kaidi Wang

Undergraduate Honors Theses

In the field of quantitative financial analysis, the Black-Scholes Model has exerted significant influence on the booming of options trading strategies. Publishing in their Nobel Prize Work in 1973, the model was generated by Black and Scholes. Using Ito’s Lemma and portfolio management methodology, they employed partial differential equation to provide a theoretical estimate of the price of European-style options.

This paper is interested in deriving non-linear modifications of the Black-Scholes model with diminishing marginal transaction cost.


The Decline Of American Entrepreneurship: An Analysis Of Causes Of Macro Market Trends And A Changing American Economic System, Owen Flomberg May 2020

The Decline Of American Entrepreneurship: An Analysis Of Causes Of Macro Market Trends And A Changing American Economic System, Owen Flomberg

Chancellor’s Honors Program Projects

No abstract provided.


Teaching Economic Risk Management Through A Video Game Concept, Samantha Montella May 2020

Teaching Economic Risk Management Through A Video Game Concept, Samantha Montella

Senior Honors Projects

Many video games imply economic behavior: making decisions within a game highlights the fundamentals of human action. The basic idea is that virtual worlds, like the real world, present us with a series of choices. Games impose digital scarcity, obliging players to weigh the benefits of different courses of action, make tradeoffs, and incur costs.

Good examples are found in the role-playing game (RPG) genre, where players face tough choices between different specializations and skill trees. Obliging players to make difficult decisions highlights the opportunity costs of choice, not the money cost. Games also encourage players to think entrepreneurially: to ...


Analysis Of Modelling Deficiencies That Contributed To The High Unanticipated Loan Losses Incurred During The Housing Price Collapse Of The Great Recession, Jennifer Shulman May 2020

Analysis Of Modelling Deficiencies That Contributed To The High Unanticipated Loan Losses Incurred During The Housing Price Collapse Of The Great Recession, Jennifer Shulman

Undergraduate Honors Theses

In this paper the data, modelling and the environmental factors that contributed to the collapse of the US housing market and the high mortgage loan losses during the Great Recession are explored. Deficiencies in data and modelling are discussed with an emphasis on the deficiencies in the mathematical modeling that failed to predict the high level of risk associated with mortgage originations in the mid-2000's. It is suggested that the lack of effective modelling significantly contributed to banks offering aggressive origination guidelines and that this was a major contributing factor that led up to the housing price collapse in ...


Designing Direct Matching Mechanisms For India With Comprehensive Affirmative Action, Orhan Aygün, Bertan Turhan Apr 2020

Designing Direct Matching Mechanisms For India With Comprehensive Affirmative Action, Orhan Aygün, Bertan Turhan

Economics Working Papers

Since 1950, India has been implementing the most comprehensive affirmative action program in the world. Vertical reservations are provided to members of historically discriminated Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC). Horizontal reservations are provided for other disadvantaged groups, such as women and disabled people, within each vertical category. As discussed in Sönmez and Yenmez (2019a), the lack of a well-defined procedure to implement horizontal reservations results in extensive confusion. Indirect mechanisms currently used in practice do not allow reserve category applicants to fully express their preferences. Moreover, the sequential processes in use for OBC de-reservations ...


An Economic Analysis Of The Pink Tax, Hajar L. Habbal Apr 2020

An Economic Analysis Of The Pink Tax, Hajar L. Habbal

Senior Theses

The “Pink Tax” broadly refers to firm pricing strategies and/or government policies that raise transactional costs (usually higher taxes or higher prices) for women. Conversations about the Pink Tax have been steadily growing over the past several decades; people have conflicting views on its existence, causes, and implications, to the point that there are substantive questions regarding its validity. More research is needed to determine where exactly the Pink Tax comes from and what are its true effects. For those who argue that the Pink Tax exists and is detrimental to females, a leading explanation for the transmission mechanism ...


Understanding The Economic Impact Of The Carolina Panthers Training Facility On Rock Hill, Jeremiah Hart Apr 2020

Understanding The Economic Impact Of The Carolina Panthers Training Facility On Rock Hill, Jeremiah Hart

Showcase of Undergraduate Research and Creative Endeavors (SOURCE)

In June 2019, the construction of both a new training facility and headquarters for Charlotte’s largest sports franchise was announced. Rock Hill, South Carolina, was selected as the new site for the facilities. This decision was notable for a number of reasons: foremost, the number of new residents that would be drawn into the region via jobs created by the construction of the new facilities. In order to better understand the outcomes of the Panthers’ investment, this paper will examine similar investments in other locales by other professional sports teams. These include “The Star,” a facility constructed by the ...


Commercial Law Intersections, Giuliano Castellano, Andrea Tosato Apr 2020

Commercial Law Intersections, Giuliano Castellano, Andrea Tosato

Faculty Scholarship at Penn Law

Commercial law is not a single, monolithic entity. It has grown into a dense thicket of subject-specific branches that govern a broad range of transactions and corporate actions. When one of these events falls concurrently within the purview of two or more of these commercial law branches - such as corporate law, intellectual property law, secured transactions law, conduct and prudential regulation - an overlap materializes. We refer to this legal phenomenon as a commercial law intersection (CLI). Some notable examples of transactions that feature CLIs include bank loans secured by shares, supply chain financing arrangements, patent cross-licensing, and blockchain-based initial coin ...


A Fishy Situation: Large-Scale Versus Small-Scale Aquaculture In Zambia, Ellie Templeton Apr 2020

A Fishy Situation: Large-Scale Versus Small-Scale Aquaculture In Zambia, Ellie Templeton

Business and Economics Presentations

This study examines the socio-economic effects of large-scale and small-scale farmers on fish production in Zambia. The government has recently encouraged small farmers to raise fish in order to decrease poverty and increase food security. However, it can be hard to make money when the large-scale, wealthy farmers are taking over the market. The possession of chicken manure to aid in fish production was significant in its impact on yields. It can be assumed that since this manure is expensive, poorer, smaller farmers are not reaping the benefits of this fertilizer since they cannot afford it.


New Age Of Cinema: Factors Affecting Movie Theater Ticket Sales, Victoria Kroha Apr 2020

New Age Of Cinema: Factors Affecting Movie Theater Ticket Sales, Victoria Kroha

Business and Economics Presentations

No abstract provided.


Cash For Gold: An Economic Analysis Of The Olympic Games, Connor De Faber-Schumacher Apr 2020

Cash For Gold: An Economic Analysis Of The Olympic Games, Connor De Faber-Schumacher

Business and Economics Presentations

No abstract provided.


Invisible Hand Or Collective Command: Unionized Effect On State Wages, Michael Felix Apr 2020

Invisible Hand Or Collective Command: Unionized Effect On State Wages, Michael Felix

Business and Economics Presentations

No abstract provided.


The Million-Dollar Smile: The Economic Analysis Of Facial Symmetry In The Nfl, Marion Fortino Apr 2020

The Million-Dollar Smile: The Economic Analysis Of Facial Symmetry In The Nfl, Marion Fortino

Business and Economics Presentations

No abstract provided.


From Physical To Digital: The Evolution Of The Recorded Music Industry, Ronald Matthew Apr 2020

From Physical To Digital: The Evolution Of The Recorded Music Industry, Ronald Matthew

Business and Economics Presentations

In this project, through time series regression analysis I look to explain the reemergence of the recorded music industry through variables such as paid streaming subscriptions, downloads, physical sales, and lastly online video and social media advertising spending. I plan to answer the research question, “What are the most impactful factors on recorded music revenues, and where will revenues be in the near future?” This will be answered by hypothesizing that the adaptation of the recorded music industry is due to the utilizing of the digital world’s tools, instead of condemning it for piracy and illegal streams. The independent ...


When Pigs Fly: A Study On The H1n1 Virus, Femi Adetola Apr 2020

When Pigs Fly: A Study On The H1n1 Virus, Femi Adetola

Business and Economics Presentations

In early 2009, a severe respiratory infection began to spread through the state of Veracruz, Mexico. Initially ruled an “outbreak”, it was officially declared an “epidemic” after evidence had shown that the virus had been present for months. From this it led to 12 months of panic and uncertainty around the globe. In this presentation I will look at what economic impact, if any, the H1N1 virus also known as Swine Flu had on the economy.


Fast And Furious: An Analysis Of What Factors Are Contributing To The Rapid And Unobstructed Rise In The Death Rate Of The Opioid Overdose Epidemic, Hailey Dicicco Apr 2020

Fast And Furious: An Analysis Of What Factors Are Contributing To The Rapid And Unobstructed Rise In The Death Rate Of The Opioid Overdose Epidemic, Hailey Dicicco

Business and Economics Presentations

No abstract provided.


Super Bang For The Super Buck: An Economic Analysis Of Super Bowl Advertisements, Marissa Pownall Apr 2020

Super Bang For The Super Buck: An Economic Analysis Of Super Bowl Advertisements, Marissa Pownall

Business and Economics Presentations

Advertising has played an important role in television and has been widely used by a variety of different businesses to help increase their brand awareness as well as promoting their products. Specifically in the Super Bowl, established brands use this opportunity to reinforce themselves in the market. The average price of a 30-second Super Bowl Ad in 2020 was $5.6 million. This brings into question: What is the economic impact of Super Bowl advertisements on a company's revenue?


Mo’ Money Less Problems: Personal Factors That Correlate With Post-Baccalaureate Attainment, Zachary Goss Apr 2020

Mo’ Money Less Problems: Personal Factors That Correlate With Post-Baccalaureate Attainment, Zachary Goss

Business and Economics Presentations

From the years 1960 to 1997, Bachelor’s Degrees in the United States tripled. More interestingly though, that same time period saw both Master’s and Doctorate degrees in fields such as business, medicine and law quadruple with about a third of students having graduate degrees by 1997. With upwards of 3 million students to enroll in post-baccalaureate programs in 2017, this paper aims to look at personal factors such as: the number of children someone has, the ages of those children, whether or not the employer is paying for the student to attend graduate school, whether the student is ...


Love On The Brain, Luke Gehlhaus Apr 2020

Love On The Brain, Luke Gehlhaus

Business and Economics Presentations

No abstract provided.


An Essay On Pluralism In Financial Market Infrastructure Design: The Case Of Securities Holding In The United States, Charles W. Mooney Jr. Apr 2020

An Essay On Pluralism In Financial Market Infrastructure Design: The Case Of Securities Holding In The United States, Charles W. Mooney Jr.

Faculty Scholarship at Penn Law

This essay will appear as a chapter in a forthcoming edited volume published by Oxford University Press. It builds on the earlier article, Beyond Intermediation: A New (FinTech) Model for Securities Holding Infrastructures, 22 U. Pa. J. Bus. L. 386 (2020), which argues that serious consideration should be given to modifications of the deeply intermediated securities holding systems in the United States and elsewhere. Many of the costs and risks imposed by the intermediated holding systems fall within the domain of the regulation of securities markets (internal costs), such as impairments of shareholder voting and bondholder claims against issuers. Others ...


Guarantees And Capital Infusions In Response To Financial Crises B: U.S. Guarantees During The Global Financial Crisis, June Rhee, Andrew Metrick Apr 2020

Guarantees And Capital Infusions In Response To Financial Crises B: U.S. Guarantees During The Global Financial Crisis, June Rhee, Andrew Metrick

Journal of Financial Crises

During 2008-09, the federal government extended multiple guarantee programs in an effort to restore the financial market and contain the panic and crisis in the market. For example, the Treasury provided a temporary guarantee program for the money market funds, the FDIC decided to stand behind certain debts and non-interest-bearing transaction accounts, and the Treasury, the FDIC, and the Federal Reserve agreed to share losses in certain assets belonging to Citigroup. This case reviews these guarantee programs implemented during the global financial crisis by the government and explores the different rationale that shaped certain design features of each program.


Australian National Audit Office: Evaluating Australian Army Program Performance, Bert Chapman Apr 2020

Australian National Audit Office: Evaluating Australian Army Program Performance, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

The Australian National Audit Office (ANAO) evaluates the management and financial performance of Australian government programs for the Australian Parliament, Australian government agencies, Australian taxpayers, and individuals interested in the performance of these programs globally. This article examines how ANAO has examined the performance of Australian Army programs and strengths and weaknesses found in these programs while recommending changes to improve program performance. It also examines how government agencies and corporations which have been the subject of ANAO analyses have reacted to ANAO findings. This assessment also examines how Plan B (the possibility that Australia might have to rely less ...


2020 Cares Act – Financial Supports For Small Business, Marilyn R. Schlake Apr 2020

2020 Cares Act – Financial Supports For Small Business, Marilyn R. Schlake

Cornhusker Economics

Whether a business is impacted by weather-related disasters, road construction or sudden economic downturns, having a plan to mitigate the impacts can be crucial to the immediate and long-term survival of the business. Unforeseen circumstances, such as the COVID-19 pandemic, may require owners to re-evaluate their business models, cut operating costs and seek outside financial supports – all to keep cash flowing and the business open. To help small businesses during the pandemic, the Coronavirus Aid Relief, and Economic Security (CARES) Act was signed into law on March 27. It contains $349 billion in relief for American small businesses and workers ...