Finance and Financial Management Commons^™

Stock Markets Performance During A Pandemic: How Contagious Is Covid-19?, Yara Abushahba

Theses and Dissertations

Background and Motivation: The coronavirus (“COVID-19”) pandemic, the subsequent policies and lockdowns have unarguably led to an unprecedented fluid circumstance worldwide. The panic and fluctuations in the stock markets were unparalleled. It is inarguable that real-time availability of news and social media platforms like Twitter played a vital role in driving the investors’ sentiment during such global shock.

Purpose:The purpose of this thesis is to study how the investor sentiment in relation to COVID-19 pandemic influenced stock markets globally and how stock markets globally are integrated and contagious. We analyze COVID-19 sentiment through the Twitter posts and investigate its …

How Does The Market View Share Repurchases: Five Possible Book Values In The Fama-French 3 Factor Model, Jaime Peters

Dissertations

Share repurchase activity has grown significantly over the past twenty years and has emerged as the most popular technique for returning cash to shareholders. Current U.S. generally accepted accounting principles treat share repurchases as a return of capital to shareholders, recording the repurchased shares at market prices and offsetting them against contributed capital accounts. This treatment reduces the recorded book value of the equity of companies. Of course, companies can reissue these shares to fulfill stock option contracts, as consideration in acquisitions, and/or in secondary offerings. These economically relevant uses of repurchased shares suggest that the market may treat share …

Essays On Ipo Cycles And Windows Of Opportunity, Meng Chen

Dissertations - ALL

The dissertation consists of two chapters regarding private firms financing in the capital market. The first chapter explores the long-term failure rate of private firms that issued initial public offerings (IPOs) in the public capital market. We study busted, or failed, IPOs to examine the underwriter certification hypothesis and windows of opportunity hypothesis in the new issues market. Extensive literature pointed out that time-varying characteristics of information asymmetry might induce windows of opportunity in capital market when information asymmetry is relatively low. During windows of opportunity, private firms can issue public equity with lower information costs and more favorable terms. …

U.S. Reit Industry Profitability: A Bennet Decomposition Of Industry Dynamics, Zhilan Feng, Stephen M. Miller, Dogan Tirtiroglu

Molasky Family Department of Economics and Real Estate Faculty Research

This paper considers the aggregate profitability performance of the REIT industry. The aggregate performance depends on the underlying microeconomic dynamics within an industry – the growth of individual REITs (the within ef-fect), the reallocation between existing REITs (the between effect), the entry of new REITs (the entry effect), and the exit of the existing REITs (the exit effect). We apply an extended Bennet (1920) dynamic decomposition on the REIT industry’s return on equity (ROE) and study the annual data on U.S. Equity REITs for the 1989 to 2015 period and various REIT industry specific sub-sample periods. Bailey et al.’s (1992) …

The Financial Implications Of The Chinese Healthcare System, Lilly Schneider, Chi Hung Kenneth Leung

DU Undergraduate Research Journal Archive

In 1949 one of the world’s most powerful and influential countries was born: The People’s Republic of China. Perhaps the greatest challenge the country has consistently faced since its inception has been ensuring a fiscally sound healthcare system. Today, China has the world’s largest population and a rapidly aging society with 330 million citizens over the age of 65 projected by 2050- nearly the same size as the total U.S. population. Living standards across China have been drastically increasing in recent decades and the Chinese people are desiring better, higher quality healthcare to complement their new lifestyles. With this desire …

Dea On Islamic Banking: A Bibliometric Study And Critical Perspective, Aam Slamet Rusydiana, Rafika Rahmawati, Shafitranata Shafitranata

Library Philosophy and Practice (e-journal)

This study aims to determine the map of the development of Islamic Bank DEA research. DEA or Data Envelopment Analysis is one method for efficiency and productivity measurement. The data analyzed were in the form of publication of the DEA application research on Islamic banking totaling 201 articles. Map of the development of Islamic Bank DEA field research is obtained through the export process into the .txt file format. The export data is then processed and analyzed using the VOSviewer application program to determine the bibliometric map of the development of the DEA Islamic Bank application research. The results showed …

Bitcoin As A Viable Alternative To Legacy Reserve Assets: Reasons, Risks, And Adoption, Jeffry Blake Dunson Ii

Senior Honors Theses

Reserve assets include commodities, currencies, or other capital held by institutions as a hedge against the fluctuations of external factors. While the United States’ rise to power helped establish the US dollar as the most predominant reserve asset of the past fifty years, current events & the fast pace of technological advancement has exposed some limitations in the system. Blockchain technology has allowed for assets with cryptographically verifiable integrity that fundamentally depart from the US dollar standard and has potential to overhaul reserve assets as we know it. The course of this research details the downsides of legacy reserve assets, …

Douglas Dynamics, Inc. A Financial Analysis And Valuation Report, Jessicca Lhotak

Dissertations, Theses, and Projects

Douglas Dynamics, Inc. was founded in 1977 and is one of the many construction machinery companies in the industry. Their headquarters is located in Milwaukee, WI, but they sell products in the United States, Canada, Northern Europe, and Asia. The company consist of two segments, a Work Truck Attachment, and a Work Truck Solutions. Having these two segments allow the company to reach into different markets, but the main market is snow and ice management. They have been able to stay ahead of the competition by acquiring other construction machinery businesses and innovating their current products. In the beginning of …

Bibliometric Analysis Of Literatures On Digital Banking And Financial Inclusion Between 2014-2020, Muhammad Ridhwan Ab. Aziz, Mohd Zalisham Jali, Mohd Nazri Mohd Noor, Syahnaz Sulaiman, Mohd Shukor Harun, Muhammad Zakirol Izat Mustafar

Library Philosophy and Practice (e-journal)

The fastest growing in technology in the recent many of years has changed the way of people live and the conduct of business. The existing of the internet and mobile has led to profound transformation to a various industry from manual-based to automatic-based activity and from offline to online transaction include in banking and financial industry. The objective of this study is to analyze the related literatures on Digital Banking and Financial Inclusion between 2014 until 2020. The methodology that has been applied in this study is descriptive research based on document analysis on previous studies and literatures on digital …

The Initial Public Offering Quandary: Is There A State And Time Dependency?, Michael D. Herley

Doctoral Dissertations (DBA)

Initial public offerings (IPOs) continue to play a critical role in the capital markets and the overall economy. With the total number of IPOs remaining considerably below historic levels, developing a more thorough understanding of their drivers and how they vary under different conditions could benefit market participants and regulators. In this dissertation, I consider the relevant academic literature and extend the paradigm that stock market growth positively influences IPO activity, and market volatility tempers IPO volume—while also accounting for the present instability in the data through a regime-switching3 approach.

I will show that the interplay of the Chicago Board …

The New Space Policy Regime And Its Financial Foundation, Tamara Campbell

Helm's School of Government Conference - 2021-2024

Post the global financial crisis of 2008, the National Aeronautical and Space Administration (NASA) sought to expand the space economy through a public policy of commercialization. This has brought major changes to the composition of space mission funding strategies, now repositioned as public private partnerships (P3s). Formed to fund space missions with private finance in lieu of public funding, P3s are investment and risk-sharing vehicles evaluated by financial intermediary institutions, insurers, and at times, the courts in the case where there is foreign direct investment (FDI) agreement. For this reason, it is arguable P3s have exceptional influence on the scope …

A University Student’S Perspective On Financial Literacy, Matthew Braley

Honors Program Theses and Projects

Financial literacy is one of the most important, if not the most important topic students need to prepare them for their future. This should be obvious, yet it still does not have a permanent place in the curriculum. Many financial literacy organizations, such as the Council for Economic Education, National Jump$tart Coalition, and Next Gen Personal Finance, are making great progress to get financial education in schools throughout the United States. However, there are many young adults that have missed the window of opportunity to obtain financial education in school. The beginning of this paper will address the current state …

Digital Disruption In The Financial Services Industry: The Emergence Of Fintech, Alex Guenther

Honors Program Theses and Projects

Financial services, traditionally consisting of banking, asset management, lending, insurance, and payment systems, are facing a perfect storm brought on by technological innovation and shifting customer expectations. Such changes have exposed a gap in the financial services space between those who have access and those who do not. Traditional financial institutions have been hindered in pursuing strategies of financial inclusion to large underserved and underbanked populations. There is a major opportunity for financial technology companies to alter the competitive dynamics in an industry that has long been dominated by major banks and other large financial institutions. ‘Fintech’, as it is …

How Technology Impacts The Financial Planning Profession, Allison Conway

Senior Honors Theses

Technology impacts the financial planning field in a distinct way and will continue to change the nature of the industry in the future. Financial planners commonly use various types of technology to improve their service and product quality. This paper will discuss several of these current technologies used by most financial planners, as well as technology that is available today that could be applied to the profession, threats to the field that technology presents such as data security, and future technologies that might have significant implications for planners. It is in the best interest of both client and planner to …

Bitcoin: The Pioneer Of Cryptocurrency With A Limited Dream, Anna M. Gellerman, Benjamin Zheng

Publications and Research

BitCoin is the most well known and adaptable cryptocurrency today. Due to the evolvement of the cryptocurrency market, many are thinking what this could mean for society; is the world ready for a new mainstream medium of exchange? This poster argues that although BitCoin is functional for small scale payments, it is inadaptable to become a payment tool comparable to cash and card.

Is It Risky To Make The World A Better Place: A Study On The Association Between Environmental, Social, And Governance (Esg) Operational Risk Management And Market Derived Volatilities, Kelly L. Johnson

Senior Honors Projects, 2020-current

Investors and firms are increasingly concerned with their Environmental, Social and Governance (ESG) risk exposures. Awareness of firms’ ESG policies by investors has grown substantially over the past five years. This growth led to the creation of company ratings for ESG operational risk exposure from third parties. We will analyze six years of ESG rankings, accounting and return data for S&P 500 firms and test whether ESG risk management ratings are associated with market derived measures of risk.

Alumnus Leads Data Tech Firm That Helps Hospitals Curb Costs

Business Exchange

A profile of Dan Michelson (MBA ’94), who celebrates his ninth year as CEO of Chicago-based Strata Decision Technology, about his work, his career path, and his passion projects.

Application Of Randomness In Finance, Jose Sanchez, Daanial Ahmad, Satyanand Singh

Publications and Research

Brownian Motion which is also considered to be a Wiener process and can be thought of as a random walk. In our project we had briefly discussed the fluctuations of financial indices and related it to Brownian Motion and the modeling of Stock prices.

Remembering Richard H. Driehaus

Business Exchange

An obituary to pioneering investment manager Richard H. Driehaus, a DePaul alumnus and benefactor, who died on March 4 at the age of 78.

What Were The Factors That Led To The Gamestop Short Squeeze?, Riley Burnette

Information Systems Undergraduate Honors Theses

The world of finance is rapidly evolving - for better or for worse. The introduction of social media in sentimental stock market trading, and new brokerage apps, combined with the new resurgence of retail investors, has led to some interesting results. These new factors in the stock market have challenged the status quo of the stock market. A group of retail investors has led this change on a Reddit forum known as /r/WallStreetBets

In early January 2021, a group of retail investors collaborated a short squeeze on GameStop stock, creating an attack against the hedge funds on a popular Reddit …