Finance and Financial Management Commons^™

The Stock Return Changes Of Chinese Adr Before And After Trump's Election And Imposed Tariff On Chinese Goods, Suyao Liu

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This study examines the stock return changes of Chinese ADR company likely be affected by Trump’s election on November 9, 2016, the signing of tariff Chinese goods bill on March 8, 2018, and the tariff bill takes into act on March 23, 2018. The results show that, relative to the entire market, the stock prices of Chinese ADR companies underperform. Our analysis provides evidence that it’s hard to find that these three events would affect a particular industry of Chinese ADR the most.

Predictability Of Mid-To-Long Term Price Direction Following Price Shocks Unassociated With Regularly Scheduled Earnings Calls In Domestic Equity Markets, Noah Braden

Undergraduate Theses

This thesis examines the question of whether a company’s stock classification as either growth or value, as indicated by its trailing twelve-month price-to-equity (TTM P/E) ratio or price-to-tangible-book value (TTM PTBV) ratio, has an impact on the price retracement toward, or continued divergence from the previous fair market value of the stock subsequent to a market-moving event uncorrelated with a 10-K or 10-Q filing by the company of interest. The categorization of growth versus value is non-binary and dependent on each firm’s TTM P/E ratio and TTM PTBV ratio (in a secondary model), with a higher ratio in both cases …

Financial Literacy: The Argument For Required Coursework Regarding Personal Finance In Schools, Maclain Canfield

Honors Theses

Financial literacy is one of the most important skills for adults to possess, and therefore personal finance should be required education. Being financially literate provides individuals with the knowledge needed to make financially prudent decisions that substantially impact their lives (Kenton, 2019; Lusardi, 2008; Zucchi, 2018). However, only fifty-seven percent of adults in the United States are financially literate (Klapper, Lusardi, & Oudheusden, 2015).

Although financial literacy provides lifelong benefits, basic personal finance is seldom taught in schools (Council for Economic Education, 2018; NPR, 2019). Research shows that students are more financially literate where financial education in high school is …

What Happened To Venezuela?, Harris Jones

Honors Theses

By studying academic research, I investigate the root causes of the crisis in Venezuela today. The research studied lays out the historical factors that have contributed to the crisis. Venezuelan politics and global politics play a role in the crisis in addition to economic factors. The situation in Venezuela has been developing for years but has gained more attention recently as the economic crisis has caused a humanitarian and political crisis as well. I chose this topic because I am interested in how colossal crises occur and I am interested in Spanish speaking countries because it is my minor. Specifically, …

The Cfa Research Challenge, Kevin Grube

Honors Student Research

This paper explores the CFA Research Challenge, a financial analysis competition, and what it entails. The paper expands on a wide range of topics regarding the challenge, motivations of its competitors, class influences towards the challenge, and tips and tricks for future competitors. The paper includes my team's finalized research paper and includes our graded rubrics. It also discusses my opinions on the CFA as an organization, detailing my distaste with the professionalism I observed over the challenge.

Public Capital Budgeting In Germany, Natalia Ermasova

Research Days

According to the WEF Global Competitiveness Report (2017), Germany’s infrastructure ranked eighth in the world. The public investment in Germany has increased significantly in last thirty years. The government gross fixed capital formation increased by 37% in 2018 in comparison to 1990 (German Finance Ministry, 2018). The government gross fixed capital formation in relation to nominal GDP (the investment-to-GDP ratio) was 2.6% in 2018, compared with 1.7% in 2001.These outstanding public infrastructure system and investment profiles are likely a consequences of the country’s healthy public finances, robust institutional framework, structural reforms, and continuous public investments to boost competitiveness.

The goal …

Exploiting Wall Street: An Algorithmic Approach To Investing, Sterling Lemon

Student Research Symposium

Technology has advanced dramatically over the years, yet the old investment strategy of "buy and hold" has remained prevalent. While this strategy performed well historically, it serves as a stark contrast to modern investing which, by utilizing machine learning and advanced data analytics, is generating unprecedented returns This research project will demonstrate the strength behind algorithmic investing and how the investment strategy of "buy and hold" will become a thing of the past.

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.

Essays On Time Series And Machine Learning Techniques For Risk Management, Michael Kotarinos

USF Tampa Graduate Theses and Dissertations

The Capital Asset Pricing Model combined with the Sharpe ratio is a standard method for choosing assets for selection in a portfolio. However, this method has many structural issues and was designed for a time when high dimensional computing was in its infancy. An alternative to these methods using a mix of Multi-Level Time Series Clustering, the MACBETH algorithm and traditional time series techniques was constructed that minimized data loss and allow for customized portfolio construction for investors with different risk profiles and specialized investment needs. It was shown that these methods are adaptable to cloud computing environments and allow …

Essays On Migration Flows And Finance, Suin Lee

USF Tampa Graduate Theses and Dissertations

In the first essay, I examine stock market implications of state-to-state migration flows that are known to provide the basis for social and business networks. I observe sizeable and robust excess return comovement between migration-flow receiving and sending states at both the individual stock and the state portfolio levels. Although I find that migration flows are associated with firms’ business activities, this comovement is not fully explained by economic fundamentals and decreases substantially when firms relocate to other states. In line with the view that migration networks form the basis for a common investor base for receiving and sending states …

Research Project In Finance: Kinder Morgan Inc. (Kmi), Christopher Holmes

Student Scholarship

KMI is a buy because the market is currently mispricing the company due to fears over their CO2 segment and their debt level.

First, it is currently being rumored that management is considering the sale of its CO2 business. This would be a positive because it would take away the concerns regarding CO2 and could help lead to a higher multiple. Additionally, the company’s backlog would become much more concentrated in higher growth areas if this segment is sold.

Second, the debt picture is misunderstood. The company currently has an investment grade rating from the rating agencies and currently has …

The Ursinus College Investment Management Company Newsletter, Spring 2019, Scott Deacle, Isaac Abrams, Paul Cottam, Elvi Sopiqoti, Wilbert Diaz, Johnny Myers

Investment Management Company Newsletter

Inside this Issue:

What's New?

Brief History of Ursinus

What Our Newest Students are Saying

What are "They" Saying?

Vanguard Field Trip

2019 Fund Performance

Looking Forward

Fundraising & Gallery

Clarity For Due Diligence In 401(K) Qualified Retirement Plans, Erin O'Reilly

Mahurin Honors College Capstone Experience/Thesis Projects

My focus for this project is to educate myself and my peers on the process of analyzing a 401(k) plan, specifically the due diligence that should be performed when analyzing a retirement plan. Specific aspects of this project will involve: (1) explaining the different roles needed to administer a 401(k) plan; (2) discussing an advisor's role in a 401(k) plan; (3) analyzing fiduciary duty levels; (4) reviewing the appropriate types of investments to include in a 401(k) plan; (5) providing suggestions for financial wellness programs; and (6) discerning the appropriate level of fees for each service. I seek to provide …

Effects Of Terrorism On The U.S. Stock Market: Evidence From High Frequency Data, Kyla Scanlon

Mahurin Honors College Capstone Experience/Thesis Projects

This paper investigates the effects that terrorist attacks and mass shootings had on the U.S. stock market, using high frequency intraday data to identify stock price and variability reactions in the hours after the attack. The impact that terrorist attacks had on price level variability was examined using the generalized autoregressive conditional heteroskedasticity (GARCH) model. The market reaction to domestic versus foreign attacks was examined to measure a potential for contagion across financial markets. The potential for flight-to-safety/quality and capital reallocation in response to terrorist attacks were measured using ordinary least squares (OLS) model, measuring the respective betas of small …

Intuit, Inc.'S Small Business And Self Employed Unit: A Strategic Analysis, Cat Nyberg

Honors Program: Senior Projects (Public)

Intuit, Inc. is a business and personal finance software company founded in 1983 by Scott Cook and Tom Proulx. It is headquartered in Mountain View, California, and has offices around the United States and internationally. Intuit’s primary mission is to ‘power prosperity’, whether for small business owners, individuals, or accounting professionals.

Intuit has three major business units: Small Business and Self Employed, Consumer, and Strategic Partner. Each business unit offers one or more flagship software platforms, optimized for specific customer needs in business accounting, professional tax preparation, and individual tax filing. Intuit’s major software flagships are QuickBooks (business accounting and …

Differential Impact Of Investor Sentiment On The Capital Asset Pricing Model And Discounted Cash Flows Model Estimates Of The Rate Of Return On Equity, Vinh Tran

Senior Honors Theses

Traditional asset pricing models such as Capital Asset Pricing Model (CAPM) and Discounted Cash Flow (DCF) have been used widely in academics and practice due to their simplicity and popularity. The CAPM is a prescriptive model that describes the relationship between a stock’s required return and risk relative to the movements in the market, while the DCF is a descriptive model that measures the realized rate of return on a stock based on the market price of the stock, which in turn incorporates investor perceptions about the stock and the market. In an ideal, efficient market where investors behave rationally, …

Estimating The Effect Of Government Programs On Youth Entrepreneurship In The Philippines, John Paolo R. Rivera, Brian C. Gozun

DLSU Business & Economics Review

For decades, the majority of the Philippines’ jobless sector is comprised of the youth. This creates the need to craft programs and policies that would enable entrepreneurship among Filipino youths. Using the Community Based Monitor System survey on Accelerated Poverty Profiling among member schools of De La Salle Philippines, we estimate the marginal effects of a multinomial logistic regression that underscore how participation in government-sponsored programs impacts a youth’s likelihood to be entrepreneurial. Results suggest a framework for improving program design and policy implementation to support youth entrepreneurial undertakings.

Three Essays On Ceo Characteristics And Corporate Decisions, Trung Nguyen

Theses and Dissertations in Business Administration

Recent studies have stressed the importance of managerial fixed effects on firm investment decisions. Following this stream of research, this dissertation empirically investigates the potential effects of two major Chief Executive Officer (CEO) characteristics, i.e. risk preferences and potential mobility, on corporate decisions such as merger and acquisition (M&A) and corporate social responsibility (CSR) investments.

Essay 1 examines whether the variation of M&A stock returns around the 2008 financial crisis is associated with shareholders’ increased loss aversion as a result of undergoing financial losses. The results show that acquisitions carried out by CEOs with risk-averse inducing compensation (inside debt) before …

The Impact Of Fintech Innovations And Financial Standards On Bank Performance: Evidence From Selected Commercial Banks In Asean, Kiyono Hasaka

Dissertations and Theses Collection (Open Access)

In the rapidly evolving financial
technology (fintech) landscape, there has been an increase in the number of the
industry research papers and articles on fintech adoption and innovations. However,
there are relatively few empirical studies that provide a quantitative analysis
of the effects of fintech and financial standards on bank performance using
financial indicators. This dissertation attempts to fill this research gap by
identifying and analysing the impact of commercial banks’ adoption of mobile
banking technologies on bank financial performance in five countries that adopted
financial standards in the Association of Southeast Asian Nations (ASEAN). Using
the longitudinal panel data …

Editor's Note, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.