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Social and Behavioral Sciences Commons

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Full-Text Articles in Social and Behavioral Sciences

Mortgage Default In Southern California: Examining Distressed Borrower's Decision Making And Market Contagion, Michael Wilkerson Jan 2012

Mortgage Default In Southern California: Examining Distressed Borrower's Decision Making And Market Contagion, Michael Wilkerson

CGU Theses & Dissertations

This dissertation focuses on mortgage defaults in Southern California during the housing bubble of the 2000s. The rapid decline in the housing market that precipitated the current recession has been accompanied by an unprecedented number of loan defaults and foreclosures. Recent studies have identified two major theories of default--the "double trigger" hypothesis, where negative equity and an income shock are necessary conditions for default--and "strategic default" where negative equity is a sufficient condition for default. This paper adds to the default literature by adding short sale as another possible outcome of mortgage default.

The primary goal is to analyze the ...


The Effect Of Executive Compensation On Firm Performance Through The Dot-Com Bubble, Maxwell J. Chambers Jan 2012

The Effect Of Executive Compensation On Firm Performance Through The Dot-Com Bubble, Maxwell J. Chambers

CMC Senior Theses

This thesis examines firm performance through the dot-com bubble through the lens of executive compensation. Hypotheses based on the theoretical literature of Bolton, Scheinkman and Xiong (2006) as well as Bertrand and Mullainathan (2001) in regards to management compensation in a speculative bubble motivate three regression models with differing market-cap-growth based dependent variables and specific compensation variables. Regression analyses test the models using public compensation and security data from S&P's Execucomp and Compustat databases. Synthesizing regression results show that stock option vesting schedules and executives' status on the board of directors may significantly affect firm performance through the ...