Business Commons^™

The Impact Of Federal Reserve Monetary Policy On Sector Etf And Market Cap Etf Performance, Maverick J. Boring

Honors College Theses

This study explores the impact of Federal Reserve policy changes on returns and volatility of U.S. equity markets, including large cap, mid cap, and small cap as well as the eleven sectors of the S&P 500. Federal Reserve policy changes in this study are measured by changes in the federal funds target rate. To measure the impact of these rates on U.S. equity markets, I construct a longitudinal dataset inclusive of exchange traded funds (ETFs) that serve as proxies for all eleven sectors, as well as one index and two ETFs that capture the performance of small, mid, and large …

Ceo’S Tweets And Firm Stock Returns: A Case Study Of Elon Musk And Tesla, Jauron Gunther Dam

Honors College Theses

This research study explores the relationship between a CEO’s public statements and a firm’s abnormal stock returns by focusing on the case study of Elon Musk’s tweets and Tesla’s stock price over the course of 2021. A longitudinal dataset is constructed by analyzing how the information contained in tweets affected Tesla’s short-run stock price. The textual data is analyzed based on CEO tweets, the daily frequency of tweets, explicit and implied fundamentals, and sentiment. The content of Elon Musk’s publications may lead TSLA to have abnormal returns. The tweets are able to capture influences from fundamentals and psychology. When Elon …

Fraud And The Audit Expectation Gap, Samuel Pelumi Olatunde

Honors College Theses

This study seeks to explore the expectation gap Georgia Southern University business and non-business majors have toward the work of an auditor. This study aims to assess the understanding of Auditors' responsibility for preventing and detecting fraud. This study will help assess the roles of an auditor, a forensic accountant, and management in fraud detection and prevention. The study will also highlight the importance of equipping students with accounting knowledge relevant to the business environment. The research for the study is conducted through a survey questionnaire and interpreted with Excel software. The hypothesis is that students that are majoring in …

A New Explanation For Samuelson’S Dictum And The Stock Market: Novel Events And Knightian Uncertainty, Nicholas Mangee

Department of Finance Faculty Publications

Samuelson’s Dictum argues that aggregate stock markets do not convincingly reflect information on fundamentals, such as dividends or earnings, and are, thus, inefficient in setting prices. By contrast, firm-level stock prices share a much closer connection with fundamentals and are, therefore, deemed relatively efficient. This paper presents an alternative explanation: Knightian uncertainty stemming from historically unique events produces differential impacts on investor forecasting bounds at the aggregate versus firm level. Several uncertainty proxies are employed from millions of unscheduled events identified in the universe of Dow Jones & Co. financial news reports over the last twenty years. Uncertainty based on …

Noise Traders, Fintech, And Equity Market Volatility, William T. Collins

Honors College Theses

The literature provides ample evidence that the last decades have seen an increase in noise trader activities, in part driven by the development of fintech. This paper strives to educate readers on the term noise traders as well as fintech. Moreover, it argues that the evolvement of noise trader activities accompanied with fintech has increased equity market volatility over time. The study finds that equity market volatility has indeed increased over time and is not driven by periods of crisis. Furthermore, this increase in volatility is more severe for small stocks versus large stocks, which is in line with the …

Demonetization In India: An Analysis Of An Instant Decision, Jaymin Patel

Honors College Theses

This analytical study examines the impact of demonetizing the Rs. 500 and the Rs. 1000 legal tender in India, which occurred on November 8^th, 2016. The study analyzes impacts on the GDP of India, employment rate, stock market volatility, agriculture sector, and the overall economy. The study shows that the demonetization movement had more short-term impacts than long-term and it generally failed to achieve its main objective.

Regression Tree Construction For Reinforcement Learning Problems With A General Action Space, Anthony S. Bush Jr

Electronic Theses and Dissertations

Part of the implementation of Reinforcement Learning is constructing a regression of values against states and actions and using that regression model to optimize over actions for a given state. One such common regression technique is that of a decision tree; or in the case of continuous input, a regression tree. In such a case, we fix the states and optimize over actions; however, standard regression trees do not easily optimize over a subset of the input variables\cite{Card1993}. The technique we propose in this thesis is a hybrid of regression trees and kernel regression. First, a regression tree splits over …

The Effects Of Antipsychotic Quality Reporting On Antipsychotic And Psychoactive Medication Use, John R. Bowblis, Judith A. Lucas, Christopher Brunt

Finance and Economics Faculty Publications

Objective

The objective of this study is to examine how nursing homes changed their use of antipsychotic and other psychoactive medications in response to Nursing Home Compare's initiation of publicly reporting antipsychotic use in July 2012.

Research Design and Subjects

The study includes all state recertification surveys (n = 40,415) for facilities six quarters prior and post the initiation of public reporting. Using a difference-in-difference framework, the change in use of antipsychotics and other psychoactive medications is compared for facilities subject to public reporting and facilities not subject to reporting.

Principal Findings

The percentage of residents using antipsychotics, hypnotics, …

Health Disparities In Cardiovascular Disease And High Blood Pressure Among Adults In Rural Underserved Communities, William Amponsah, Marian M. Tabi, Godfrey A. Gibbison

Finance and Economics Faculty Publications

Purpose: This study examined the factors contributing to health disparities in cardiovascular disease (CVD) and high blood pressure (HBP) among adults in three rural underserved communities in southeast Georgia. Socioeconomic status as well as geographic location plays a significant role in one’s quality of health outcomes.

Methods: Individuals in three counties in southern Georgia participated in the study. The study was motivated by review of retrospective data from the 2008 Georgia Cardiovascular Health Initiative (CVHI) database to explain the factors contributing to the incidence of health disparities. A survey questionnaire was administered by telephone to adult members of …

An Exploration Of Income Characteristics: Analyzing Targets And Acquirers In Banking Mergers And Acquisitions, Stephanie S. Simpson

Honors College Theses

With the large number of bank mergers occurring from 1990 to 2007, it is useful to know why acquirers chose to merge with these targeted entities. This research analyzes the income characteristics of targets and acquirers for this period to determine any indicators that distinguish an acquirer’s income structure from a target’s. To do this, income statement items from these banking entities are examined using factors such as size, serial or nonserial classification, and (for the targets only) public or private status. The research concludes that acquirers and targets indeed attain different income, cost, and efficiency characteristics.

Long-Term U.S. Cross-Border Security Flows With Developed And Emerging Market Countries Surrounding The Global Financial Crisis, Caitlin Tongco

Honors College Theses

This paper analyzes the impact of the global financial crisis on cross-border long-term security flows from and towards the U.S. We are investigating monthly observations from 72 countries over the period from 2003 to 2013. The findings show that the global financial crisis impacted all cross-border capital flows in our analysis; yet, the timing, the significance, and the nature of the impact varies among the different securities, as well as between a sample of developed and emerging market countries. We find evidence for a flight-to-safety with the start of the global financial crisis, with a significant, but short lived interruption …

Comparing And Contrasting The Us And German Banking System With Emphasis On The Financial Crisis In 2008, Sarah K. Gleissle

Honors College Theses

This thesis will compare and contrast the Financial Systems of the United States and Germany, the structure, institutions and regulations. Furthermore, we investigated the impacts that the Financial Crisis in 2008 had on Financial Systems, the outcomes and effects. First, we looked at both Systems and the structures more closely, and compared them to each other. Next we looked at the regulations and regulatory agencies in both countries and the work they do. We realized that the different competitive natures the banking systems are under influence their businesses and business decisions.

The Effect Of Bank Activity Restriction On Life Insurers’ Efficiency: Evidence From European Markets, Rongrong Zhang

Finance and Economics Faculty Publications

This paper examines the relation between bank entry restrictions into insurance operations and life insurers’ operating efficiency for a sample of 21 European countries over 1995-2003. Controlling for insurance market penetration, insurance risk retention, legal environment, and the economic development of the hosting country, we document that insurers operate more efficiently in markets with lower bank entry restrictions. Our results suggest that financial deregulation has positive spill-over effect, supporting the deregulation efforts in the global financial markets.

The Distribution Of Individual Stock Returns In A Modified Black-Scholes Option Pricing Model, Daniel Lee Richey

Electronic Theses and Dissertations

Author's abstract: There have been many attempts to find a model that can accurately price options. These models are built on many assumptions, including which probability distribution stock returns follow. In this paper, we test several distributions to see which best fit the log returns of 20 different companies over a period between November 1, 2006 to October 31, 2011. If a "best" distribution is found, a modified Black-Scholes model will be defined by modifying the Weiner process. We use Monte Carlo simulations to generate estimated prices under specified parameters, and compare these prices to those simulated by the model …

Growth In Russia's Federal Districts, 1994-2003, Gregory J. Brock

Finance and Economics Faculty Publications

Russian macroeconomic growth in the transition era is analysed across federal districts using a neoclassical production function often found in studies of Soviet-era economic growth. An adjusted capital stock series for Russian regions is created and used in the aggregate production function for 1995–2003 to analyse growth across the 11 federal districts in Russia. Federal district output growth is found to be explained well by neoclassical growth theory, indicating that poorer regions may converge to richer regions, thereby strengthening the Russian Federation. Federal districts also have high capital/labour ratios, suggesting that expanded regional domestic and foreign investment across Russia in …