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Articles 1 - 30 of 45
Full-Text Articles in Business
The Landscape Of Gender Lens Investing In The United States And Performance Analysis, Sarah Monsini
The Landscape Of Gender Lens Investing In The United States And Performance Analysis, Sarah Monsini
Honors Projects in Finance
This study aims to analyze the performance of environmental, social, and governance mutual funds and ETFs, particularly those composed of companies that prioritize the gender diversity pillar of ESG. This method of investing, known as gender lens investing, involves selecting securities with a high social ESG score attributable to strong gender diversity throughout all levels of the company, or in this case, companies that an ETF or mutual fund is invested in. I expect to find that gender diverse ETFs and mutual funds perform better than their benchmarks, promoting the inclusion of policies that facilitate this aspect of ESG in …
Implementing Universal Design For Learning In Financial Literacy Education, Andreas Kotsironis
Implementing Universal Design For Learning In Financial Literacy Education, Andreas Kotsironis
Honors Projects in Finance
The purpose of the study is to understand what students currently know regarding financial literacy, what learning style they use in the classroom, and how to fuse the two into a simple and informational version of financial literacy education. Financial literacy education can be used to increase household savings for retirement, personal financial goals, and risk management purposes. By joining the concept of UDL and Financial Literacy Education, each obstacle listed can be improved upon. Learning styles focus attention onto three different approaches to teaching that are based in auditory, visual, and kinesthetic pedagogies. UDL focuses on curating individual learning …
Import Penetration And Corporate Misconduct: A Natural Experiment, Christopher Dupuis
Import Penetration And Corporate Misconduct: A Natural Experiment, Christopher Dupuis
Honors Projects in Finance
Import penetration from China is largely exogenous to the U.S. product market. Using this natural experiment, we find that heightened China import penetration curbs corporate misconduct of U.S. firms. The effect is more pronounced for firms with weaker corporate governance and firms more vulnerable to product market competition. The findings suggest that when import penetration increases, firms may improve corporate governance, and differentiate themselves through product innovation or corporate social responsibility to cope with the competition. In addition, we address the exogeneity concern derived from the influence of China value penetration. Furthermore, we find that competition related policies such as …
How The Current Economy Will Affect Generation Z'S Ability To Retire In The Future, Connor Stahl
How The Current Economy Will Affect Generation Z'S Ability To Retire In The Future, Connor Stahl
Honors Projects in Finance
As Gen Z is moving into the workforce, it is becoming more evident that they are going to have a tough time being able to retire. Generation Z, born from 1995 to 2008 is one of the youngest Generations that has seen the most financial strife in their developing years, than any other generation. Even so, this generation has seen a lot of financial struggles they will continue to see them into the future. This study looks at a variety of different factors to help determine the severity of retirement for Generation Z. Some factors that will be looked at …
Investment Behavior: The Difference Between Individual And Professional Investors, Saketh Dantuluri
Investment Behavior: The Difference Between Individual And Professional Investors, Saketh Dantuluri
Honors Projects in Finance
In the modern world, there is greater accessibility to information and investment opportunities. This has led to more people from many different backgrounds to start investing in various markets. Because of this, the modem-day investor can look like many different things and have significantly varied levels of financial knowledge. This study will look into the differences in investment behaviors for individual investors, who typically have lower financial literacy rates, and professional investors, who typically have higher financial literacy rates. The data will be obtained by surveying individuals with various financial literacy rates in order to gauge the differences between individual …
Behavioral Market Irrationality: An Exploration Of Financial Literacy Awareness, Behavioral Finance, And Financial System Investing, Ethan Kmiecik
Behavioral Market Irrationality: An Exploration Of Financial Literacy Awareness, Behavioral Finance, And Financial System Investing, Ethan Kmiecik
Honors Projects in Finance
Since the dawn of recordable civilization, monetary systems have shaped the developments of history. From the Akkadian shekel to the Roman denarius, the Spanish piece of eight, the British pound sterling, and the United States dollar. The wellbeing of the civilization is dependent on the (mis)management of the currency system. While currencies touch the lives of nearly every human, the history, fundamentals, and causational relationships of currencies and their derivatives are not universally known. This paper examines the degree of financial and currency system awareness within the surveyed population and how it varies within the sub-categories of the surveyed population. …
Cryptocurrency In Investing: An Analysis Of Digital Currencies And Understanding Investor Sentiment, Matthew Sprague
Cryptocurrency In Investing: An Analysis Of Digital Currencies And Understanding Investor Sentiment, Matthew Sprague
Honors Projects in Finance
In this paper, there will be discussion pertaining to the use of different cryptocurrencies as a tool within an investment portfolio and how different investors view the idea of investing with cryptocurrency. This includes the validity of cryptocurrency, historical trends, relationships to other asset classes, and the results of surveys taken to those questioned about cryptocurrencies. An outline of how the cryptocurrency markets operate will be included, as well as the creation and value of cryptocurrency. Further, there is discussion about specific investment cases such as a tool for retirement investing and how cryptocurrency can be used in the growing …
The Interaction Between Spending Policies And Asset Allocation For College And University Endowment, Ryan Erickson
The Interaction Between Spending Policies And Asset Allocation For College And University Endowment, Ryan Erickson
Honors Projects in Finance
The analysis revealed better combinations of asset allocation and spending policy for college and university endowments that efficiently balance the desirable outcomes of stable spending in real terms against maintaining the purchasing power of the endowment over time (intergenerational equity). Using the variability and correlation of historical asset class returns, we created a forward-looking, projection-based, multivariate Monte Carlo simulation of individual asset class returns. The simulation incorporates the relationships between inflation and asset class returns, and the relationships among asset class returns. The projected time series of asset class returns produced a time series of endowment portfolio returns given an …
Special Needs Financial Planning Case Studies: Evaluation Of Three Financial Services Business Models' Approaches To Client Needs, Thomas Williams
Special Needs Financial Planning Case Studies: Evaluation Of Three Financial Services Business Models' Approaches To Client Needs, Thomas Williams
Honors Projects in Finance
Special needs financial planning is the process and organization of a financial plan for a family with a child or children with a disability. A key aspect of special needs financial planning is planning for the life of a child with a disability after the death of their parents. Failing to conduct financial planning for such a family could leave the child with a disability relying on state-provided services with a poor quality of life. The following research outlines how four business models will approach a family with a special needs dependent. The four business models are a Registered Investment …
Effectively Influencing Personal Financial Management And Financial Preparedness Among Athletes, Darnel Shillingford
Effectively Influencing Personal Financial Management And Financial Preparedness Among Athletes, Darnel Shillingford
Honors Projects in Finance
Professional athletes live the dream of millions of people when they sign their first contract to be paid to play sports. For many athletes, they are coming into money that many have never seen before. Handling this money can prove difficult for athletes from a personal finance standpoint, and it is imperative for them to utilize the support systems around them. However, the support systems need to be readily available to the athlete for there to be a significant impact on the budgeting and investing practices of the athlete. Empowering an athlete to take full advantage of their time in …
The Impact Of Diversity, Equity, And Inclusion In The Fashion Industry, Hannah Dreska
The Impact Of Diversity, Equity, And Inclusion In The Fashion Industry, Hannah Dreska
Honors Projects in Finance
This research study is an examination of diversity, equity, and inclusion in the marketing and infrastructure of companies within the commercial fashion industry. The aim of this paper is twofold. First, this paper examines the purchasing preferences and behaviors of young adults and whether their opinions on diversity and inclusivity impact it. Second, this paper examines the financial impact of companies that adopted an inclusive and diverse approach to their marketing strategies and company infrastructure. I hypothesize that inclusivity and diversity are qualities highly valued by consumers and would thus have a positive financial impact on companies that focus on …
A Review Of The Effect Of Esg On "Sin" Firms, William Stearns
A Review Of The Effect Of Esg On "Sin" Firms, William Stearns
Honors Projects in Finance
In this study, we examine the impact of ESG on stock returns and portfolio returns for sin stocks. The relationship between ESG and stock prices has been a topic of interest for research in recent years with the increasing emphasis on ESG in society. The present study analyzes the ESG scores for nine specific sin stock industries: tobacco, gambling, alcohol, adult entertainment, firearm, military, nuclear power, bioengineering, and oil and gas. This study is conducted through the use of statistical analysis with data collected from COMPUSTAT, CRSP, and MSCI. Our results reveal that ESG is negatively correlated with sin firm …
Young Adults And Money: The Covid-19 Pandemic, Michael Mariano
Young Adults And Money: The Covid-19 Pandemic, Michael Mariano
Honors Projects in Finance
This study looks to explore the relationship between the effects of the COVID-19 pandemic on the economy and young investors. More specifically, this research looks to answer the question: how have young adults, ages 18-25, responded to the economic distress caused by the COVID-19 pandemic with their investing decisions? Through analyzing a sample of young adults, ages 18-25, this study will develop a deeper and broader perspective on the unique impact that the COVID-19 pandemic has had on the investing decisions of young adults. Using a mix of literary studies on similar historical events and a sample study of young …
Environmental, Social, And Governance Factors Within Investing: Impact On The Financial Performance Of The Energy Sector, Ryan Donahue
Environmental, Social, And Governance Factors Within Investing: Impact On The Financial Performance Of The Energy Sector, Ryan Donahue
Honors Projects in Finance
An emerging social pressure of being environmentally and socially responsible has been an increasingly popular concept through the past decades. Socially responsible investing (SRI), or environmental, social, and governance (ESG) investing is an investment strategy which aims to flood publicly trading companies with capital who operate according to specific morals and standards. Studies has proven investors who factor ESG into their portfolio strategies often see greater return, as firms are able to create more long-term value. The purpose of this study is to analyze the effects of ESG activity and ratings on the financial performance of firms in the energy …
The Impact Of Female Leadership On Lgbtq-Supportive Policies, Samantha Bove
The Impact Of Female Leadership On Lgbtq-Supportive Policies, Samantha Bove
Honors Projects in Finance
In the past two decades, gender inequality in c-suites has received a large amount of attention. Thus, the number of women in top management roles has increased substantially. However, the corporate sector has also neglected other marginalized groups, specifically, members of the LGBTQ community. These individuals are important employees and previous literature has established the benefits, both financial and otherwise, that the presence of LGBTQ supportive policies have on American corporations. In this paper, I examine if the presence of women CEOs influences the LGBTQ policies that are implemented in that firm. This will be analyzed using an OLS regression …
Rise Of Passive Investing: Impacts On Equity Market Functionality, Ryan Donovan
Rise Of Passive Investing: Impacts On Equity Market Functionality, Ryan Donovan
Honors Projects in Finance
Most investments into equity markets can be categorized into two general strategies: active investments and passive investments. These strategies impact equity markets in different ways. Over the past few decades, market participants have witnessed a radical shift from active management to passive management. This paper reviews how this shift impacts market dynamics generally, and liquidity and comovement effects, in particular. Robust statistical analysis of total passive domestic equity assets under management (AUM), individual security, and market index data demonstrates that dramatic increases in passive investment flows correlates with decreased broad market liquidity and increased security-index comovement for securities in the …
Anatomy Of The Short Squeeze: Using Technical And Statistical Analysis To Forecast Price Volatility, Gianni Demerski
Anatomy Of The Short Squeeze: Using Technical And Statistical Analysis To Forecast Price Volatility, Gianni Demerski
Honors Projects in Finance
A short squeeze is a phenomenon in the stock market that occurs when the price of a security surges drastically higher over a short period of time. The main known cause of a short squeeze is due to short sellers aggressively covering their positions creating a short-term artificial increase in the demand for a given stock. The purpose of the present study is to determine whether the stock return volatility of a short squeeze can be forecasted using variables such as trade volume, price patterns, short interest, market capitalization, and a stock’s outstanding shares. The study attempts to determine which …
Understanding Real Estate Market Dynamics: The Covid-19 Effect, Faith Winslow
Understanding Real Estate Market Dynamics: The Covid-19 Effect, Faith Winslow
Honors Projects in Finance
The covid-19 pandemic has led to significant shifts in consumer trends, including in the real estate market. Through multivariable regression, this study investigates how covid-19 has impacted the demand as well as pricing for houses in the United States. The findings contribute to the literature in a few major ways. First, they provide a current look at the impact of covid-19 on the housing market by analyzing monthly, state-level data from before and during the pandemic. Secondly, they provide clarity and supplement journals and research currently in the works. This is the first national study that looks at the effect …
Inditex's Esg Performance In A Global Financial Market, Sara Habig
Inditex's Esg Performance In A Global Financial Market, Sara Habig
Honors Projects in Finance
Zara has become extremely popular as a global fashion enterprise and remains significantly profitable in the fashion industry. With a leading supply chain operation strategy, they have been a leading retailer for many decades. This empirical research study involves research and assessment of Inditex's ESG performance and evaluations based on ASSET4 data source's evaluations, using the Stata software. Results show that Inditex remains a strong competitor in the fast fashion industry when compared to its rivals within 4 different categorical markets: all sample firms in Spain, all global retailers, and all sample firms separated by continent. Inditex consistently outperformed their …
Student Loans And Their Effects On Postgraduate Life, Joseph Bartucca
Student Loans And Their Effects On Postgraduate Life, Joseph Bartucca
Honors Projects in Finance
College tuition has been steadily increasing in America throughout the past two decades as demand for a higher education has continued to rise. A college education is invaluable and is inevitably essential in obtaining a successful career. As a result, more and more students have been depending on student loans to finance their way through college. The average college student loan debt has reached about $30,000 per student upon graduation nowadays. Because of these skyrocketing debt amounts, several life goals and aspirations have been impacted, including future employment, further enrollment, family formation, homeownership, and net worth. The objective of this …
The True Cost Of College: The Impact Of Student Loan Debt On Academic Performance, Marykate Marshall
The True Cost Of College: The Impact Of Student Loan Debt On Academic Performance, Marykate Marshall
Honors Projects in Finance
The cost of college has increased disproportionately compared to wages over the last several decades and as a result, student debt has become more prominent. This study aims to identify and examine the relationship between student loan debt and academic performance. Using an online survey, Bryant Alumni and current juniors and seniors were asked questions pertaining to cumulative GPA at graduation, their financial stress level, demographics, student information, personal finances (including family background), and further education. GPA serves as the dependent variable and factors such as gender, race/ethnicity, the amount of debt, and siblings served as independent variables. The results …
Millennials' Retirement Struggle: The Interaction Between Student Loans, Financial Decisions, And Financial Literacy., Rebecca Michaud
Millennials' Retirement Struggle: The Interaction Between Student Loans, Financial Decisions, And Financial Literacy., Rebecca Michaud
Honors Projects in Finance
As millennials grow older and begin their careers in the workforce, saving for retirement begins to become an important part of spending. This paper analyzes a variety of factors and challenges that impact an individual’s retirement savings. This thesis ultimately looks to determine whether the driving force for the general inadequacy of retirement savings is student loan debt, financial decision making, or both. Through both research and survey responses, this thesis will also look at whether a public policy that removes a certain percentage of student loan repayment obligations will have any impact on the amount that young workers are …
Non-Traditional Alternative Investments, Michael Alfieri
Non-Traditional Alternative Investments, Michael Alfieri
Honors Projects in Finance
This paper investigates the feasibility of non-traditional alternative investments in portfolios. Non-traditional alternative investments are defined by this paper as collectibles, such as classic cars, art, and wine. Some of these assets have been around for decades and are increasingly becoming more available to investors. This asset class is grouped with assets that are not easily tradable like traditional equities and bonds and do not generate cash flows. This makes valuing the intrinsic value of collectibles difficult. However, academic research has shown that non-traditional alternative investments do have a track record worth investing in. Parts of the market are becoming …
Using Macroeconomic Variables To Preserve The Predictive Power Of Bankruptcy Prediction Models Across Time, Edward Golas
Using Macroeconomic Variables To Preserve The Predictive Power Of Bankruptcy Prediction Models Across Time, Edward Golas
Honors Projects in Finance
At its core, bankruptcy prediction is a binary classification problem where a researcher attempts to model a company’s financial status, defined as either bankrupt or non-bankrupt, based upon a slew of financial ratios, market indicators and even macroeconomic variables. Several studies (Altman and McGrough, 1974; Moyer, 1977 and Mensah, 1984) have noted that such models tend to suffer reduced accuracy when predicting bankruptcy for time periods other than the one in which they were trained. A possible solution to this problem is to include macroeconomic variables in the model, since such variables fluctuate over time and are suspected of impacting …
How Does The Capability Of Top Management Influence Financial Reporting Fraud?, Michael Wojcikiewicz
How Does The Capability Of Top Management Influence Financial Reporting Fraud?, Michael Wojcikiewicz
Honors Projects in Finance
This study examines the attributes which capture the capability of a perpetrator to engage in financial reporting fraud. Fraudulent financial reporting can be devastating for a company and its employees. Capability includes such measures as the person’s position and the function in which they work. The study reveals how capability influences the occurrence of fraud, the amount of the fraud, and whether capability interacts with concealing the fraud from an audit. The results of the thesis should assist fraud professionals, investors, and regulators as well as stakeholders of corporations by examining publicly available data and highlighting characteristics that can contribute …
The Influence Of News Sentiment On Common Asset Pricing Models, Liam Mahler
The Influence Of News Sentiment On Common Asset Pricing Models, Liam Mahler
Honors Projects in Finance
This paper aims to explore the influence of daily news article sentiment as a predictor of the returns on an investment. A daily sentiment score is developed and it is used to augment five commonly researched models, CAPM, Fama & French Three Factor, Carhart Four Factor, Fama & French Five Factor, and Fama & French Five Factor with Momentum. This study looks at six different securities over a five-year period. Along with this, two different variations of the factor are looked at, one of which is a simple factor that scores days without an article as zero and another that …
A Stochastic Approach To Portfolio Optimization Using Competing Risk Metrics, Juan Gonzalez
A Stochastic Approach To Portfolio Optimization Using Competing Risk Metrics, Juan Gonzalez
Honors Projects in Finance
This thesis presentation presents a stochastic approach to portfolio construction using various risk metrics as underlying models for portfolio optimization. The risk models utilized in this thesis include Mean-Variance, Minimum-Variance, Value-at-Risk (VaR), Conditional Value-at-Risk (CVaR). To evaluate the efficiency and overall performance of these models, historical data for 30 specific stocks was selected. The stock selection process focused on the selecting stocks that are highly volatile and correlated with one another. Empirical results reveal that portfolio optimization strategies outperform the benchmark. Additionally, results showed that the Minimum-Variance model constructed the best portfolio for the predetermined backtesting time period.
Can Students Studying Abroad Use Forward Exchange Rates As A Tool For Better Budgeting Their Semesters?, Emalee Dunbar
Can Students Studying Abroad Use Forward Exchange Rates As A Tool For Better Budgeting Their Semesters?, Emalee Dunbar
Honors Projects in Finance
Traveling abroad requires an immense amount of planning and attention to detail. Budgeting is a difficult task in one’s own country, but when planning across borders, that task becomes even greater. Differences in exchange rates and buying power have the potential to adversely affect the budget set ahead of time, placing more stress on the traveler. Financial tools available in the foreign exchange market, if used strategically, may provide a reliable method to budgeting travel abroad as accurately as possible. There are many individuals, students especially, that plan on traveling or studying abroad yet are on tight budgets. Having a …
Can Tweets Predict Intraday Stock Price Movements?, Diwas Puri
Can Tweets Predict Intraday Stock Price Movements?, Diwas Puri
Honors Projects in Finance
Twitter is a microblogging platform where over 320 million people post about things that matter to them in less than 140 characters. People post about their happiness, sadness, pride, disappointments, love, hate, expectations and other feelings. Nowadays, a popular trend has come up in which data from Twitter, can be gathered and analyzed in real time to see how people react to a particular situation including changes in stock markets. This research focuses on looking into the relationship, if any, between public mood from Twitter and the stock market returns by analyzing the Tweets about four major companies in consumer …
The Impact Of New Product Announcements On Quick Service Restaurant Companies’ Stock Returns, Tim Drechsler-Martell
The Impact Of New Product Announcements On Quick Service Restaurant Companies’ Stock Returns, Tim Drechsler-Martell
Honors Projects in Finance
This study seeks to answer two main questions: 1) Do product announcements impact quick service restaurant stock returns? 2) Do economic conditions impact the degree which product announcements impact quick service restaurant stock returns? 159 total product announcements were collected for 6 quick service companies: McDonald’s Corp., YUM! Brands Inc., The Wendy’s Co., AFC Enterprises Inc., Jack in the Box Inc., and Sonic Corp. 84 of these announcements were from 2005-2007 (Labeled “Pre-Recession”), and 75 were from 2009-2011 (Labeled “Post-Recession”). Using historical stock price data, an analysis of the overall trends of the mean-adjusted excess returns was conducted to determine …