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Ursinus College

2016

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Articles 1 - 7 of 7

Full-Text Articles in Business

Federal Home Loan Bank Advances And Bank And Thrift Holding Company Risk: Evidence From The Stock Market, Scott Deacle, Elyas Elyasiani Oct 2016

Federal Home Loan Bank Advances And Bank And Thrift Holding Company Risk: Evidence From The Stock Market, Scott Deacle, Elyas Elyasiani

Business and Economics Faculty Publications

Using bivariate GARCH models of stock portfolio returns and risk, we find that bank and thrift holding companies that relied the most on Federal Home Loan Bank (FHLB) advances exhibited less total risk and market risk than those that relied on them the least between 2001 and 2012. When we control for differences in holding company size, stock trading volume, residential mortgage lending, and holding company type (bank vs. thrift), the most FHLB-reliant holding companies sustain the aforesaid risk advantages except during the crisis of 2007–2009, when they exhibit greater idiosyncratic risk. The latter finding suggests that investors perceived the …


A Macro Economic Approach To Gender Disparities In Hiring At The Ceo Level, Abigail R. Wood Jul 2016

A Macro Economic Approach To Gender Disparities In Hiring At The Ceo Level, Abigail R. Wood

Business and Economics Summer Fellows

More men named John run S&P 1500 companies than all women combined, causing many to wonder what factors are limiting women’s career advancement. While many studies have been written about the topic of women’s success in the business world, most focus on individual firms or positions and therefore miss macroeconomic factors such as women’s completion of master’s degree programs and labor force participation rates. This research examines the disparity of gender in CEO positions through the examination of macroeconomic data which captures women’s career trajectory and qualifications. This research specifically examines trends in women’s obtainment of master’s degrees in business …


Have You Counted The Ingredients On Your Child's Lunch Tray?: An Economic Analysis Of Sustainability Initiatives Within The School Lunch Program, Vanessa R. Scalora Jul 2016

Have You Counted The Ingredients On Your Child's Lunch Tray?: An Economic Analysis Of Sustainability Initiatives Within The School Lunch Program, Vanessa R. Scalora

Business and Economics Summer Fellows

In 2010, President Obama signed the Healthy Hunger Free Kids Act, establishing a monetary incentive for schools that served meals following a more rigorous nutritional requirement than standard guidelines. This act is a step in the right direction towards placing more importance on school lunches, however America’s lunchroom practices continue to be environmentally unsustainable, and students absorb this message. The production and transportation of processed cafeteria food contributes to climate change, its packaging is polluting, and its consumption contributes to obesity. The use of premade foods and sales from vending machines increase as lunch times grow ever shorter. In addition, …


Students Today Into Entrepreneurs Tomorrow: The Impact Of Major Choice On Grit And Risk Aversion, Keith D. Larkin Apr 2016

Students Today Into Entrepreneurs Tomorrow: The Impact Of Major Choice On Grit And Risk Aversion, Keith D. Larkin

Business and Economics Honors Papers

The Bureau of Labor Statistics reports that more than half of all start-ups in the US fail before their fifth year in operation (BLS, 2010). As a result, since the mid-1980s, colleges and universities nationwide have continued to increase opportunities and funding to improve entrepreneurial education. Yet, little is known about how the choices students make during their time in college, like major choice, impact personality traits that are beneficial to entrepreneurship. Specifically, these traits are grit and risk aversion. The theoretically successful entrepreneurs are able to be committed to goals and remain motivated despite setbacks. Simultaneously they must maintain …


Trading Ahead Of Bad News: Evidence From Short-Sales Of Stocks And The Options Market, Nicholas E. Macksoud Apr 2016

Trading Ahead Of Bad News: Evidence From Short-Sales Of Stocks And The Options Market, Nicholas E. Macksoud

Business and Economics Honors Papers

Throughout the past ten years, the United States Environmental Protection Agency (EPA) has issued hundreds of enforcement actions in the electric, natural gas, and petroleum industries. The vast majority of these citations have been violations of environmental statutes, notably the Clean Air Act (CAA) and the Clean Water Act (CWA). My research evaluates the timing of informed investors’ actions pertaining to the public release of these EPA announcements. Since informed traders have much more leverage in the options market, there seems likely to be a concentration of abnormal put option activity shortly before the time in which the announcements reach …


Cost Of Debt And Federal Home Loan Bank Funding At U.S. Bank And Thrift Holding Companies, Scott Deacle, Elyas Elyasiani Apr 2016

Cost Of Debt And Federal Home Loan Bank Funding At U.S. Bank And Thrift Holding Companies, Scott Deacle, Elyas Elyasiani

Business and Economics Faculty Publications

We investigate the relationship between the cost of debt issued by bank holding companies (BHCs) and thrift holding companies (THCs) and their use of Federal Home Loan Bank (FHLB) advances. Cost of debt is used as a measure of bank riskiness for the first time in a FHLB study. A two-equation model of FHLB advances and cost of debt is estimated. Three main results are obtained. First, greater reliance on advances by BHCs and THCs is associated with lower cost of debt in the pre-crisis period, and more strongly so during the crisis, because granting of advances sends a positive …


Raj Rajaratnam: Cheater (Revised), Alicia Baker Jan 2016

Raj Rajaratnam: Cheater (Revised), Alicia Baker

Richard T. Schellhase Essay Prize in Ethics

No abstract provided.