Business Commons^™

Essays In Corporate Finance And Machine Learning, Manish Jha

Arts & Sciences Electronic Theses and Dissertations

My dissertation focuses on two broad questions. First, why do shareholder’s preferences vary, and how various agents persuade them? And second, how public perceptions about the financial sector and regulations affect economic outcomes? While my research plan contributes to the two distinct fields of literature, a unifying theme of my research is the use of innovative machine learning techniques to overcome the empirical challenges that would typically prevent measuring these sentiments objectively.

In my Chapter 1, I use a supervised machine learning model on mutual fund family’s proxy voting choices to estimate their preferences. I find that hedge fund activists …

Corporate Venture Capital And Its Effects On Company Valuation - An Analysis Of The Additions Of Cvc Arms, Joshua Lyman

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

This paper examines the stock price reaction to the addition of corporate venture capital arms to publicly traded companies. Referencing venture capital resources, corporate press release announcements of the addition of CVC arms were hand collected. I calculate the cumulative abnormal returns (CARs) surrounding press release announcement dates and find immediate stock market reactions, positively increasing stock prices compared to the overall market. I further perform placebo event studies at random dates and with direct competitors using the same announcement dates and find no significant results. These findings suggest that corporate venture capital increases company valuation and that financial markets …