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Full-Text Articles in Social and Behavioral Sciences

The Effects Of Industry On Cross-Border And Domestic Ipo Underpricing, Emily K N Hirano Jan 2011

The Effects Of Industry On Cross-Border And Domestic Ipo Underpricing, Emily K N Hirano

CMC Senior Theses

Increasing numbers of foreign firms are holding cross-border IPOs in attempts to raise capital in markets outside of their home nation. Within the United States cross-border IPOs consistently experience greater amounts of underpricing than domestic IPOs. This paper examines the effects of SIC industry classifications on cross-border and domestic IPO underpricing from 2004-2010. Analysis demonstrates that in various industries, SIC classification has a significant impact upon underpricing in comparison to other industries. While in other industries, significance is solely exhibited through the differing impacts of domestic and cross-border IPOs, within the industry itself, upon underpricing. The most significant industry effect …


A New Experiment On Rational Behavior, Myles R. Macdonald Jan 2011

A New Experiment On Rational Behavior, Myles R. Macdonald

CMC Senior Theses

Behavioral economics is widely recognized as a rising field in economics, one whose discoveries and implications are not yet completed or understood. At the same time, economic theory plays an enormous role in our governmental and legal system. In particular, the Coase Theorem and its implications have affected nearly every area in the field of law and economics. This paper proposes a experimental test of Coasean bargaining in situations using two competitive players whose payoffs depend on minimizing their costs of mitigating the externality. A rational player’s action can be predicted ahead of time, and the rationality of the game’s …


The Economic Impact Of Oil Price Shocks On Emerging Markets, Aanchal Kapoor Jan 2011

The Economic Impact Of Oil Price Shocks On Emerging Markets, Aanchal Kapoor

CMC Senior Theses

Recent spikes in oil prices have thrown light on how economic activity in emerging markets may be impacted by oil price shocks. This paper conducts an empirical analysis of the effect of oil price shocks on emerging markets. It tests for the existence of an asymmetrical relationship between oil prices and economic activity using a model developed by James Hamilton. It also assesses the impact of structural shocks to the real price of oil on output as proposed by Lutz Kilian. While our models find no consistent pattern within emerging markets, they do suggest that oil price shocks have a …


From Riches To Rags: The Political Economy Of The Natural Resource Curse, Anum Malkani Jan 2011

From Riches To Rags: The Political Economy Of The Natural Resource Curse, Anum Malkani

CMC Senior Theses

The natural resource curse paradox has given rise to a wide range of explanations, which look at the economic, social and political characteristics of resource-rich countries. This paper focuses on the political economy of natural resources and finds that controlling for sociopolitical factors eliminates the natural resource curse. The analysis then turns to these sociopolitical factors and examines the significant, complex and varied effects of democratization on economic growth in general, as well as in resource-rich countries in particular. I conclude that the type of institutions needed for economic development in resource-rich countries are not specific to either democratic or …


The Drug War In Mexico: Consequences For Mexico's Nascent Democracy, Katrina M. Weeks Jan 2011

The Drug War In Mexico: Consequences For Mexico's Nascent Democracy, Katrina M. Weeks

CMC Senior Theses

In recent years Mexico has been confronted with accelerating levels of violence related to drug trafficking organizations and counter-drug efforts. This paper examines the consequences of Mexico’s current drug trafficking situation on the country’s fledging democracy. In particular, the impact of the drug war on Mexico’s democratic consolidation is evaluated through civil-military relations, the judicial system, and the press. Conclusions about the prospects for Mexico’s nascent democracy are then examined.


Examining The Effect Of Psychological Traits On Earnings And The Gender Wage Gap Within A Young Sample Of U.S. Employees, Marika May Jan 2011

Examining The Effect Of Psychological Traits On Earnings And The Gender Wage Gap Within A Young Sample Of U.S. Employees, Marika May

CMC Senior Theses

This paper examines the effect of psychological traits on earnings and furthermore whether it helps explain the gender wage gap. Public-use data collected from The National Longitudinal Study of Adolescent Health is used to evaluate the impact on earnings on seven psychological factors: masculine traits, self esteem, analytical problem solving approach, willingness to work hard, impulsiveness, problem avoidance, and self-assessed intelligence. Findings show that gender differences in psychological traits are significant and returns to observable characteristics differ somewhat by gender as well. Among the young sample of U.S. employees evaluated in this study, I find that up to 21 percent …


Executive Minority Employment And Compensation Gap In The S&P500: Is Compensation Disparity More Prevalent In Certain Industries?, Jason W. Toney Jan 2011

Executive Minority Employment And Compensation Gap In The S&P500: Is Compensation Disparity More Prevalent In Certain Industries?, Jason W. Toney

CMC Senior Theses

Minorities hold a significantly smaller percentage of executive positions in companies within the S&P500. However, whether these minorities are under compensated relative to their non-minority counterparts has not been previously investigated. Using Compustat data, this paper documents the differences in compensation between minorities and non-minorities as a whole, minority and non-minority CEOs, and the differences in compensation for minorities and non-minorities within industries. I show that there is no minority/white wage gap overall, and in some cases, minorities earn a premium compared to non-minorities.


Alleviating Social Disadvantages Of Rapid Economic Growth: A Case For Conditional Cash Transfer (Cct) Application In Old Siam, Anastasia Kostioukova Jan 2011

Alleviating Social Disadvantages Of Rapid Economic Growth: A Case For Conditional Cash Transfer (Cct) Application In Old Siam, Anastasia Kostioukova

CMC Senior Theses

The ongoing conflict between Thailand’s red shirt and yellow shirt parties is not purely political. This tension is rooted in a renewed awareness of regional economic and social inequality, a byproduct of rapid economic growth in the past. This thesis seeks to understand the overall consequences of unequal economic development in Thailand, as the rationale for asserting that a conditional cash transfer (CCT) program is an appropriate policy tool for the ongoing reconciliation efforts.


Credit Market Imperfections, Financial Crisis And The Transmission Of Monetary Policy, Brett Spencer Jan 2011

Credit Market Imperfections, Financial Crisis And The Transmission Of Monetary Policy, Brett Spencer

CMC Senior Theses

This paper uses U.S. macroeconomic data drawn from 2001 to 2010 in order to test for the operation of a credit channel of monetary transmission. Using a combination of a VAR and ADL time series frameworks, evidence is found for the impairment of the credit channel during the crisis period relative to the period which preceded it. Evidence is also found against the presence of a "credit crunch" during the crisis, and supporting evidence is found for the existence of a "credit trap." This analysis indicates a significant role for credit market imperfections in the transmission of monetary policy, and …


Understanding Terrorism In The Horn Of Africa: American Perceptions Of Somalia, Kenya, And Al Qaeda, Victoria L. Din Jan 2011

Understanding Terrorism In The Horn Of Africa: American Perceptions Of Somalia, Kenya, And Al Qaeda, Victoria L. Din

CMC Senior Theses

A number of factors contribute to the enigmatic nature of terrorism. As popular perceptions of the act and of the actor evolve, there is a corresponding desire to change the definition. The act itself has stayed largely the same; however, developments in politics and culture have changed our perceptions of terrorism and subsequently our usage of the term. As such, it has been imprecisely applied to a diverse and perpetually changing set of actors, institutions, and actions.


Performance Under Pressure: The Effect Of Explanatory Style On Sensory-Motor Performance Under Stereotype Threat, William R. Macphail Jan 2011

Performance Under Pressure: The Effect Of Explanatory Style On Sensory-Motor Performance Under Stereotype Threat, William R. Macphail

CMC Senior Theses

Do participants with external attribution styles outperform participants with internal explanatory styles in pressure-filled situations? Explicit-monitoring theory suggests that performance becomes impaired when conscious attention is devoted to performing a task normally carried out by automatic processes. Attributing potential failure to an external source (e.g., blaming a sudden gust of wind for a poor golf shot) can decrease the negative effects of stereotype threat, a social-psychological predicament known to engender feelings of stress similar to those experienced in pressure-filled situations, by preventing explicit monitoring from taking place. The current study examined whether individual differences in attribution style, as measured by …


Los Retos De La Formación De Un Proyecto Comunitario De Ecoturismo: Un Caso De Estudio De Puerto Cayo, Ecuador, Carly A. Graber Jan 2011

Los Retos De La Formación De Un Proyecto Comunitario De Ecoturismo: Un Caso De Estudio De Puerto Cayo, Ecuador, Carly A. Graber

CMC Senior Theses

A pesar de la potencial del ecoturismo, todavía existen muchas comunidades que enfrentan obstáculos en realizar un proyecto exitoso del turismo. Vivir en el área natural o protegida no significa que la población local esté ganando del ecoturismo y desarrollándose. Un proyecto de ecoturismo exitoso no sólo tiene la carga de ser sostenible y dar beneficio al medio ambiente, el proyecto tiene que incluir la población local en una manera integral. El problema que será analizado en esta tesis es la multitud de barreras que existen frente a la movilización e integración de la población local, las cuales prohíben que …


Changing Incentives: How Electoral Reform Can Help Remove An Ethnic Focus In Political Competitions In Kenya, Carliann Brashier Jan 2011

Changing Incentives: How Electoral Reform Can Help Remove An Ethnic Focus In Political Competitions In Kenya, Carliann Brashier

CMC Senior Theses

Prior to the presidential elections in December 2007, Kenya was viewed as one of the few politically stable and economically prosperous countries in Africa, a paradigm for other African countries to emulate. At least this was the view held widely in the Western world. Missing in this analysis were the growing ethnic tensions which, although not a new phenomenon to Kenya (the precedence was established during the colonial era), had grown increasingly volatile during the past two decades. The 2007 controversial election results revealed even sharper bitterness and divisions among Kenyans. Ethnic lines were drawn and the country experienced two …


Has The Franco-German Power Balance In The European Union Tipped In Favor Of Germany?, Stephanie C. Haffner Jan 2011

Has The Franco-German Power Balance In The European Union Tipped In Favor Of Germany?, Stephanie C. Haffner

CMC Senior Theses

The power balance between France and Germany in the European Union has been one of great discussion and debate. Countless journalists and scholars have argued that Germany’s power has risen gradually against the seemingly perpetually stronger France over the past sixty years, and is now finally set to surpass France; but how true are these claims? How can power within the EU truly be measured? Through an analysis of Franco-German collaboration through unionization, a critique of the contemporary discourse on the relationship, and an examination of changing contributions to the EU budget, my paper argues that the Franco-German power balance …


Post-Conflict Reconstruction In Sri Lanka And Cyprus: Avoiding A Stalemate, Jyotsna Shankar Jan 2011

Post-Conflict Reconstruction In Sri Lanka And Cyprus: Avoiding A Stalemate, Jyotsna Shankar

CMC Senior Theses

By comparing the post-conflict reconstruction patterns of Cyprus and Sri Lanka, it is possible to evaluate what was or was not effective in the Cyprus case and how these lessons may be applied to Sri Lanka. Considering the underlying similarities of the two islands’ respective conflicts, the focus determining the best course of action for Sri Lanka, so that it does not face the same stalemate situation as Cyprus. The recommended policy contrasts with the consociationalist models proposed for Cyprus, and is instead based on the unique Basque model of autonomy.


Overcoming The Obstacles To Sustainability In Ghana, Ashley M. Scott Jan 2011

Overcoming The Obstacles To Sustainability In Ghana, Ashley M. Scott

CMC Senior Theses

For several decades following its independence from Great Britain, Ghana’s policies continued to promote over-extraction of natural resources to the detriment of its economy and rural communities. Agricultural and forestry policy has gradually evolved to foster more sustainable and equitable practices, as in building partnerships with the private sector to fund infrastructure improvements. Policy has recently recognized the dire need to adopt agricultural practices and means of forest resource extraction that are compatible with ecological stewardship. However, many shortcomings are still apparent. Large logging operations completely disregard forestry regulations with impunity, whereas rural sustenance extractors are severely punished in the …


Southern California Water Management: Practical Adoptions And Policy Recommendations, Blake Kos Jan 2011

Southern California Water Management: Practical Adoptions And Policy Recommendations, Blake Kos

CMC Senior Theses

Contrary to popular belief, the L.A. region is more of a desert than a tropical oasis. Little rainfall during the winter months and practically no rainfall during the summer months is characteristic of Southern California’s desert-like weather patterns. Due to these low precipitation levels, water is considered the most important commodity in the Los Angeles region. Prior to 1900, the inhabitants of this area were fully aware of the importance of water. Most settlements were established near water sources and had adopted various techniques and constructed small-scale dams to conserve and reuse rainwater. Yet these measures were not sufficient to …


The Impact Of Weather Forecasts On Day-Ahead Power Prices, Noah Levin Jan 2011

The Impact Of Weather Forecasts On Day-Ahead Power Prices, Noah Levin

CMC Senior Theses

1. Introduction Power industry deregulation and electricity market restructuring, which began in Chile in the 1980s and then spread to Norway, New Zealand and the UK, were introduced in the United States with the passage of the Energy Policy Act (EPA) of 1992 (Jameson, 1997). The EPA and subsequent Federal Energy Regulatory Commission (FERC) Orders led to the restructuring of vertically integrated electric utilities, the establishment of Independent System Operators (ISO) and Regional Transmission Organizations (RTO) and the development of competitive wholesale power markets. Deregulation also led to the creation of various electricity contract–based financial derivative products. In 1996, the …


The Claremont Autism Center, Alex E. Mitchell Mr. Jan 2011

The Claremont Autism Center, Alex E. Mitchell Mr.

CMC Senior Theses

The Claremont Autism Center is a 23 minute documentary on the strengths and benefits the Center brings to Claremont McKenna students, as well as children and families from the Inland Empire that deal with Autism on a daily basis.


Re-Evaluating Poverty Alleviation Strategies: The Impact Of Microfinance On Child Labor In Bangladesh., Lauren C. Smith Jan 2011

Re-Evaluating Poverty Alleviation Strategies: The Impact Of Microfinance On Child Labor In Bangladesh., Lauren C. Smith

CMC Senior Theses

Microfinance has become one of the most promising tools for development and poverty alleviation over the past two decades. Millions of borrowers around the globe have utilized microcredit to start or expand their small businesses and raise their household income. One poverty-induced problem microfinance could potentially alleviate is child labor. Despite international legislation prohibiting it, child labor continues to deprive millions of children of their right to education. Without education, there is little hope for a country to increase productivity and wealth in the future. A number of scholars have highlighted a negative correlation between credit rationing and child labor. …


The Effect Of Culture On Female Labor Force Partcipation, Joycelyn J. Ho Jan 2011

The Effect Of Culture On Female Labor Force Partcipation, Joycelyn J. Ho

CMC Senior Theses

This article looks at the effect of culture on female labor force participation. Proxies of culture used are Globe cultural social practice dimensions, and Hofstede cultural dimensions. This article finds that globe cultural dimensions have a stronger explantory value that Hofstede cultural dimensions. It confirms that gender eglaitarianism is a predictor of female labor force participation. It also suggests that assertiveness and uncertainty avoidance are also predictors of female labor force participation.


Work Attribute Importance And Loyalty Intention: Millennial Generation Psychological Contract, Laura M. Bottorff Jan 2011

Work Attribute Importance And Loyalty Intention: Millennial Generation Psychological Contract, Laura M. Bottorff

CMC Senior Theses

This study investigated the importance that junior and senior job-seeking undergraduates (Millennial generation members) place on transactional and relational work attributes; how ratings vary by gender, experiences with layoff, and intended loyalty; and how well ratings match with actual attributes offered by organizations. Results are discussed in context of psychological contract theory. Students (n = 199) and recent graduates working full-time (n = 180) took separate online survey. Students indicated the importance of various work attributes (Ng, Schweitzer, & Lyons, 2010), loyalty intentions, and other related questions. Graduates answered only work attribute questions related to their current employer. Work attributes …


Striving For A Happier America: Lessons From Denmark, Leanne P. Ringquist Jan 2011

Striving For A Happier America: Lessons From Denmark, Leanne P. Ringquist

CMC Senior Theses

American society has lost sight of one of its most valued virtues: Happiness. Research has showed that the United States is behind many other countries in the overall happiness of its citizens. Leading the world in well-being is Denmark. This paper’s aim is to explore possible factors that could be facilitating the well-being of Danish citizens, and applying them to American society. In this search, I explore universal individual factors, as well as factors that lead to the development of a culture and dispositions of its citizens. From these factors, as well as unique characteristics of both countries, I hypothesized …


The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal Jan 2011

The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal

CMC Senior Theses

This paper will employ unit root tests for finding structural breaks endogenously among India’s key macroeconomic aggregate series, as well as their components and subcomponents. The same analysis will be repeated, wherever data are available, for states. The results from these unit root tests will then be used in regression models for national and state level data to understand the causes behind structural breaks. We find that breakpoints cluster around 1982 and 2003 for most series at the national and state level. The services component appears to be a promising candidate for explaining the 2003 structural break in some of …


The Impact Of Oil Prices On The U.S. Economy, Jacob H. Bauch Jan 2011

The Impact Of Oil Prices On The U.S. Economy, Jacob H. Bauch

CMC Senior Theses

Nine of the ten recessions since WWII have been preceded by relatively large and sudden increases in the price of oil. In this paper, I use time series analysis to forecast GDP growth using oil prices. I use the methodology from Hamilton (2009), and extend the dataset through 2010. Impulse response functions are used to analyze the historical performance of the model’s one-year-ahead forecasts. In April, 2011, the International Monetary Fund changed its forecast of 2011 GDP growth in the U.S. from 3.0% to 2.8% largely due to persistently high oil prices. My model suggests that the price increase in …


Appreciating Bilingualism: The First Step To Reducing Racism In The United States, Jenna Suttmeier Jan 2011

Appreciating Bilingualism: The First Step To Reducing Racism In The United States, Jenna Suttmeier

CMC Senior Theses

The goal of this paper is to explore the origins of modern-day racism and to discuss ways to reduce discrimination in the United States. Research on bilingualism and bilingual education indicates that bilingualism can be one method that helps reduce racism and increase cultural acceptance. For example, bilingual education can help establish multicultural identities in school children by providing better educational opportunities for English learners, teaching a new language and culture to native-English speakers, and integrating diverse cultures in classroom settings. Therefore, bilingual education can be a powerful tool in facilitating cultural awareness and reducing racial tensions in the U.S.


Cross-Cultural Risk Behavior In Financial Decisions And The Cushion Hypothesis, Jin Tan Jan 2011

Cross-Cultural Risk Behavior In Financial Decisions And The Cushion Hypothesis, Jin Tan

CMC Senior Theses

92 students from a Southern California liberal arts college and two Beijing universities participated in an online questionnaire. Their cultural tendencies (i.e. level of collectivism and perception of family support) and responses to hypothetical investment scenarios were observed. Participants were asked to provide the amount they would invest in each scenario as well as a risk safety rating. The Chinese respondents reported higher cushion and collectivism scores than the Americans. Furthermore, the Chinese sample offered more money for the three riskiest scenarios; they also rated three scenarios safer than the Americans did. The cushion and collectivism scores were not found …


The People’S Republic Of China’S Stance On Human Rights In Selected Crises, Brian T. Kopczynski Jan 2011

The People’S Republic Of China’S Stance On Human Rights In Selected Crises, Brian T. Kopczynski

CMC Senior Theses

This paper examines China’s policy towards human rights internationally with the intent of discerning real support for human rights. It compares China’s responses to two cases of mass human rights violations (the Darfur and Israel-Palestine conflicts) in which it has a serious interest (energy in particular). It finds that China treats human rights self-interestedly, but also has some support for them when its interests are not at stake.


History Education And Identity Formation: A Case Study Of Uganda, Takako Mino Jan 2011

History Education And Identity Formation: A Case Study Of Uganda, Takako Mino

CMC Senior Theses

History education builds the foundation of a common past necessary for the formation of group identity. Evaluating History curricula is important because group identity guides people’s political behavior. This Uganda case study demonstrates how different actors have manipulated History education in order to enhance the saliency of ethnic, national, and regional identities. The expansion of nationalized education and the teaching of Ugandan, East African, and African history have contributed to fostering the rise of national consciousness in Uganda. Greater awareness of national identity has promoted national integration while marginalizing non-school educated people.


Securing The Homeland: A Risk-Cost-Benefit Analysis Of U.S. Anti-Terrorism Expenditures, Anne-Elise Martin Jan 2011

Securing The Homeland: A Risk-Cost-Benefit Analysis Of U.S. Anti-Terrorism Expenditures, Anne-Elise Martin

CMC Senior Theses

An analysis of risk, cost and benefit associated with U.S. domestic anti-terrorism expenditures.