Single Stock Futures And Stock Options: Complement Or Substitutes,
2016
Utah State University
Single Stock Futures And Stock Options: Complement Or Substitutes, Cuyler Strong
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
Are single stock futures and stock options complement or substitute goods? In this study, I test this research question by examining option trading activity (option volume and open interest) surrounding an arguably exogenous introduction of single stock futures. This event study provides a natural experiment that allows us to make causal inferences about how the presence of single stock futures affects the options market. While it is commonly thought that single stock futures and options are substitute goods, my evidence instead suggests that they are complements. While I observe very little change in option volume surrounding the introduction of single …
Object-Oriented Programming: A Method For Pricing Options,
2016
Utah State University
Object-Oriented Programming: A Method For Pricing Options, Leonard Stewart Higham
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
In the world of finance, it’s becoming necessary to obtain computer programming knowledge and experience, a marketable skill that prepares one conduct quantitative analysis. The objective of this thesis is to utilize concepts in finance and computer science together to form a pricing library for financial derivatives, thus, develop a strong skillset in a specific area of financial computational methods. Through implementation of object-oriented programming and specific design patterns in Python, I develop a pricing engine for many types of options, from plain vanilla to unique and complex options, with the focus on the ability to reuse and extend various …
Reanalyzing The Political Stability Of Britain's Democratization,
2016
Utah State University
Reanalyzing The Political Stability Of Britain's Democratization, Nathan R. Burton
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
A recent article in Journal of Economic History by Dasgupta and Ziblatt uses bond yields to analyze the political risk of the 19th century democratization legislation of Britain known as the Reform Acts. Dasgupta and Ziblatt find that the volatility of yields is relatively high during periods of legislation, and model the yields via GAM method, concluding that the political risk associated with the Reform Acts was high. I reproduce the study and comparing those times of 'high' volatility to all periods and find nothing to compare high-volatility periods to, suggesting that it is inconclusive whether the Reform Acts were …
An Empirical Analysis Of Efficiency And Profitability Ratios In The U.S. Retail Industry,
2016
Morehead State University
An Empirical Analysis Of Efficiency And Profitability Ratios In The U.S. Retail Industry, Sergio Ribera Boigues
Morehead State Theses and Dissertations
A Thesis Presented to the Faculty of the College of Business and Technology Morehead State University in Fulfillment of the Requirements for the Course IET 699 - Thesis by Sergio Ribera Boigues on April 28, 2016.
Shareholder Activism And Its Long Term Effects,
2016
University of Connecticut
Shareholder Activism And Its Long Term Effects, Louis Beck
Honors Scholar Theses
The purpose of this paper is to provide an overview of the current climate in the activist shareholder space, with a primary focus on activist hedge funds aiming to financially benefit from their endeavors. It begins with a written timeline of the history of activist investing throughout the twentieth century and follows with a transition into the current climate. The current landscape of activist investing is then discussed, which includes both criticisms and compliments. This analysis of the current landscape includes a case study of eight well-known hedge funds, some of which operate as pure activist funds while others contain …
Reducing Customer Waiting Time Of Commercial Banking Industry (A Case Study),
2016
Morehead State University
Reducing Customer Waiting Time Of Commercial Banking Industry (A Case Study), Feng Gao
Morehead State Theses and Dissertations
A Thesis Presented to the Faculty of the College of Business and Technology Morehead State University in Partial Fulfillment of the Requirements for the Degree Master of Science by Feng Gao April 26, 2016.
Student Debt: Impact On Student Choices,
2016
College of Saint Benedict/Saint John's University
Student Debt: Impact On Student Choices, Kelsey Cavanaugh
Celebrating Scholarship & Creativity Day (2011-2017)
In 2010 student loans became the second largest portion of US debt. Today, the estimated total is 1.4 trillion. Over the last decade the average debt per student has increased 56%, which is double the inflation rate for that period. The graduating class of 2014 left college with an average of about $29,000 of debt. Lastly, the number of federal borrowers today is 7.5 million and growing. This presentation examines how student debt affects students’ spending choices after college and what has changed in these patterns over the last decade.
Initial Public Offerings (Ipos),
2016
College of Saint Benedict/Saint John's University
Initial Public Offerings (Ipos), Kevin Keller
Celebrating Scholarship & Creativity Day (2011-2017)
As an investor, the first rule is to never get caught up in your emotions. There are thousands of different (exciting) investment opportunities in today’s world, and some of them tend to be a bit riskier than others. These consist of stocks, bonds, certificates of deposit, mutual funds, exchange-traded funds, and several others. However, where do most of these investment tools originate? In order for a stock to be publicly traded on the stock exchange, it must undergo what it called an initial public offering (which I will refer to as an IPO). Since the primary objective is to raise …
Bsg: Strategic Decision Making For An Athletics Footwear Company,
2016
Dominican University of California
Bsg: Strategic Decision Making For An Athletics Footwear Company, Mekdi Yilma
Scholarly and Creative Works Conference (2015 - 2021)
No abstract available
Asset Allocation, Risk Tolerance And Shortfall Risk,
2016
Butler University
Asset Allocation, Risk Tolerance And Shortfall Risk, Steven D. Dolvin
All Chapters
Asset allocation is the biggest driver of portfolio performance, particularly over the long-term. Moreover, it also is reflective of an investor's risk tolerance. The recent financial crisis has negatively impacted investment psychology, particularly among younger investors. As a result, the so-called "Generation-Y" has over half of their assets held in cash -- a "non-earning" asset. While this is safe, there is a risk of loss in value, as cash does not even hold up with inflation. In the long-term, such an allocation means a lower retirement balance--i.e., shortfall risk. Thus, these investors have essentially traded one type of risk for …
Short Interest At High Levels,
2016
Butler University
Short Interest At High Levels, Steven D. Dolvin
All Chapters
Short interest has been high even though the market has recovered significantly. In fact, in the wake of the recovery, short sellers have increased their positions. If they are correct, we could see a market pullback. Their short positions, however, create a large "sideline" demand, which has actually made market moves more positive in the wake of neutral news (due to short covering). See article here, Yahoo/Bloomberg.
Cost Of Debt And Federal Home Loan Bank Funding At U.S. Bank And Thrift Holding Companies,
2016
Ursinus College
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 …
Consumer Confidence And The Performance Of The Hospitality Industry In Business Cycles,
2016
Pepperdine University
Consumer Confidence And The Performance Of The Hospitality Industry In Business Cycles, Shane W. Harjes, Levon Goukasian
Seaver College Research And Scholarly Achievement Symposium
The purpose of this research is to examine if consumer confidence plays a role in explaining the financial performance of firms in the hospitality industry. Previous research has shown that consumer confidence has predictive power in forecasting future changes in household spending, and personal consumption growth in the US. Our findings are derived from regression analysis using the Fama-French Five Factor Model, which captures all variations of expected market returns. In order to adequately capture significant findings, we separated abnormal returns into pre-recessionary, recessionary, and post-recessionary time periods. From these findings, we will be able to determine with some certainty …
2016 Q2 Private Capital Access Index Report,
2016
Pepperdine University
2016 Q2 Private Capital Access Index Report, Craig R. Everett
Pepperdine Private Capital Access Report
The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Graziadio School of Business and Management at Pepperdine University, and with the support of Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.
The Anatomy Of Bank Performance During Transition: A Separate Efficient Frontier Analysis Of Ukrainian Banks,
2016
Rowan University
The Anatomy Of Bank Performance During Transition: A Separate Efficient Frontier Analysis Of Ukrainian Banks, Ihsan Isik, Larissa Kyj, Ihsan Kulali
Rohrer College of Business Departmental Research
By drawing on Ukrainian experience, this paper analyzes the anatomy of bank efficiency in a transitional economy. Acknowledging the vast disparities in the business technology of different size banks, in this comprehensive study, we innovatively estimate group-specific (distinct) frontiers for small, medium, and large size banks. The results from separate frontiers reveal that Ukrainian banks record 38% technical inefficiency, 26% pure technical inefficiency, and 17% scale inefficiency on average. Apparently, banks in transition waste about the two fifths of their factor inputs during the production of financial services. The cardinal source of sub-performance in transitional banks seems to be managerial …
Women In Microfinance And Its Social Effects On The Community: A Case Study In Hue, Vietnam,
2016
SIT Study Abroad
Women In Microfinance And Its Social Effects On The Community: A Case Study In Hue, Vietnam, Madison Spigel
Independent Study Project (ISP) Collection
Microfinance, a form of micro lending with no collateral, has been used as a way to finance the poor since the foundation of the Grameen Bank in Bangladesh by Muhammad Yunus in 1983. Since the Doi Moi period, the Vietnamese government has showed great interest in microfinance and has made this loan system available to both its rural and urban citizens through organizations like the Women‟s Union. Through detailed surveys and semi-structured in depth interviews of both women in the Union as well as related parties in Hue, I was able to study how microfinance is used by these women …
Obstacles To Tax Reform: Income Definition And Capital Gains Taxation,
2016
Merrimack College
Obstacles To Tax Reform: Income Definition And Capital Gains Taxation, Nicholas Santosuosso
Honors Senior Capstone Projects
The Great Recession of 2007-2009 sparked widespread economic anxiety among the American public while setting the tone for the debate over economic policy to capture center stage in the 2012 Presidential election cycle. Concern over growing budget deficits and wealth concentration in the wake of the Recession caused much of this attention to shift onto the fiscal policy of the United States. Public dissatisfaction with the federal income tax code remains pervasive today, and 72 percent of Americans believe that the tax system needs either a major or complete overhaul, according to Pew Research Center (Doherty 2013). Support for such …
Oil Prices And A Stronger Dollar: Causation Or Correlation?,
2016
Merrimack College
Oil Prices And A Stronger Dollar: Causation Or Correlation?, Christina Donahue
Honors Senior Capstone Projects
A stronger dollar is accountable for a major effect on declining oil prices. Since oil is traded in U.S. dollars, oil prices are more likely to fall when the dollar becomes stronger. Thus, companies within the oil industry are delivering their worst results of the current decade due to plunging oil prices. However, the stronger dollar is not solely responsible for falling oil prices; the deteriorating demand of oil is the result of slowing growth in major countries such as China.
Take-Two Interactive Software, Inc. Equity Analyst Report,
2016
Merrimack College
Take-Two Interactive Software, Inc. Equity Analyst Report, Brian Nelson Goncalves
Honors Senior Capstone Projects
Most companies throughout history have conducted operations in a way that makes them relatively easy to valuate. Up until very recently this was considered to be the only way to value a company. With the introduction of new technologies and changing consumer demands, it has become increasingly difficult to value most companies. Particularly, technology companies are notoriously hard to value and their valuations are extremely speculative. In this report, the company Take-Two Interactive Software will be discussed and valued. This report will discuss everything about the company and the industry as it relates to investors. In order to understand the …
Contribution Of 52-Week Low To The Momentum Strategy On 52-Week High,
2016
Louisiana Tech University
Contribution Of 52-Week Low To The Momentum Strategy On 52-Week High, Hyun Chul Cho
Doctoral Dissertations
I examine whether the momentum strategy based on 52-week high price can use 52-week low price as another reference point. I find that the remoteness of current price from 52-week low price plays an incremental role in the momentum profits of the strategy based on 52-week high price. Furthermore, I find that the role depends on the level of the nearness to 52-week high price. I find that the profits of the 52-week high price momentum strategy that also uses remoteness of current price from 52-week low price increase as the level of the nearness to 52-week high price increases. …
