Finance and Financial Management Commons^™

From Space To Ground Zero: The Application Of Geographic Information Systems And Rocket Cargo Transportation To Disaster Management Operations, Sarah Stout

Senior Honors Theses

This paper provides an overview of the application of space-based technologies, specifically Geographic Information Systems (GIS) technology and rocket cargo launches, to disaster management operations. GIS links data from satellites, remote sensing, and other sources to dashboards, allowing relief teams to monitor relevant demographic, environmental, and disaster details. This information supports multiple aspects of planning and decision-making in the preparedness, response, and relief stages of the disaster management cycle. Rocket cargo transportation, an emerging method of shipping supplies, will allow for supplies to be shipped anywhere in the world in under twenty-four hours. This can be used in a future …

How The Current Economy Will Affect Generation Z'S Ability To Retire In The Future, Connor Stahl

Honors Projects in Finance

As Gen Z is moving into the workforce, it is becoming more evident that they are going to have a tough time being able to retire. Generation Z, born from 1995 to 2008 is one of the youngest Generations that has seen the most financial strife in their developing years, than any other generation. Even so, this generation has seen a lot of financial struggles they will continue to see them into the future. This study looks at a variety of different factors to help determine the severity of retirement for Generation Z. Some factors that will be looked at …

Green Transition And Financial Stability: The Role Of Green Monetary And Macroprudential Policies And Vouchers, Ying Tung Chan, Maria Teresa Punzi, Hong Zhao

Sim Kee Boon Institute for Financial Economics

This paper analyzes a mix of alternative policies in supporting the green transition and the phase-out of fossil fuels, without compromising financial stability. An environmental dynamic stochastic general equilibrium (E-DSGE) model with two sectors (green and brown) and endogenous default is developed to assess potential climate-induced financial stability threats that can be mainly generated through physical and transition risks mechanism. Those risks are evaluated through a compound capital depreciation shock and a carbon tax shock. The paper offers several findings. First of all, a too stringent carbon tax would increase the medium-term default rate in both sectors, harming financial stability …

Equity Fund Monthly Report, April 2024, Archway Investment Fund

Archway Investment Fund

No abstract provided.

The Landscape Of Gender Lens Investing In The United States And Performance Analysis, Sarah Monsini

Honors Projects in Finance

This study aims to analyze the performance of environmental, social, and governance mutual funds and ETFs, particularly those composed of companies that prioritize the gender diversity pillar of ESG. This method of investing, known as gender lens investing, involves selecting securities with a high social ESG score attributable to strong gender diversity throughout all levels of the company, or in this case, companies that an ETF or mutual fund is invested in. I expect to find that gender diverse ETFs and mutual funds perform better than their benchmarks, promoting the inclusion of policies that facilitate this aspect of ESG in …

Implementing Universal Design For Learning In Financial Literacy Education, Andreas Kotsironis

Honors Projects in Finance

The purpose of the study is to understand what students currently know regarding financial literacy, what learning style they use in the classroom, and how to fuse the two into a simple and informational version of financial literacy education. Financial literacy education can be used to increase household savings for retirement, personal financial goals, and risk management purposes. By joining the concept of UDL and Financial Literacy Education, each obstacle listed can be improved upon. Learning styles focus attention onto three different approaches to teaching that are based in auditory, visual, and kinesthetic pedagogies. UDL focuses on curating individual learning …

Import Penetration And Corporate Misconduct: A Natural Experiment, Christopher Dupuis

Honors Projects in Finance

Import penetration from China is largely exogenous to the U.S. product market. Using this natural experiment, we find that heightened China import penetration curbs corporate misconduct of U.S. firms. The effect is more pronounced for firms with weaker corporate governance and firms more vulnerable to product market competition. The findings suggest that when import penetration increases, firms may improve corporate governance, and differentiate themselves through product innovation or corporate social responsibility to cope with the competition. In addition, we address the exogeneity concern derived from the influence of China value penetration. Furthermore, we find that competition related policies such as …

Climate Change: An Existential Threat To Humanity, Brayden Asher Roy

Honors Projects in Biological and Biomedical Sciences

According to President Joe Biden, "Climate change is an existential threat to humanity" (Biden, 2020), one that requires the fullest attention from leaders within the international community. Research into the impacts of anthropogenic behavior on the climate began as early as the 1870s. When the clean energy movement generated support in the 1980s, fossil fuel companies responded to protect their existing business model that a transition to renewable energy would dismantle. Within the United States, through the suppression of information and lobbying of politicians, fossil fuel companies turned the concept of climate change into a partisan issue. Based on scientific …

How Spending Patterns Of Different Groups Affect Long And Short-Term Savings, Peter Misiaszek

Honors Projects in Mathematics and Economics

Many young Americans are concerned whether they will have sufficient savings as they age. This paper will explore the factors that influence the spending habits of young Americans and how those patterns correlate to lifetime savings. There is a plethora of psychological and sociological factors that contribute to different patterns of spending which ultimately affect long-term savings. Savings rates have dropped significantly over the past few decades, and this decline is leaving many Americans without sufficient wealth for retirement. Data that will be collected will be used to run a regression model, ultimately to conclude what the most important factors …

Fixed Income Fund Report, April 2024, Archway Investment Fund

Archway Investment Fund

No abstract provided.

Research On The Impact Of Tech Founders On Enterprise Innovation And Market Performance, Zhihao Xu

Dissertations and Theses Collection (Open Access)

In recent years, increased entrepreneurial projects have been spearheaded by scientists and technical experts. The likelihood of success for such entrepreneurship has garnered considerable attention.

Leveraging theories including upper echelons theory and attention-based view, this study develops an analytical framework, research hypotheses, and measurement models to examine the correlation between entrepreneurs’ technical backgrounds and enterprise performance. Use first-hand and second-hand data together constitute the core data sources. Utilizing a fixed effect regression analysis model, the study elucidates the correlation between the technical backgrounds of entrepreneurs and enterprise performance. Building upon empirical research, this study also selects entrepreneur cases of typical …

“Njangi Never Dies”: The Social Impacts And Non-Financial Benefits Of Njangis In Batoufam And Yaoundé, Cameroon, Georgia Schaefer-Brown

Independent Study Project (ISP) Collection

Rotating Credits and Savings Associations (ROSCAs) are present in much of the developing world and are incredibly common in Cameroon. The financial impacts of ROSCAs have been researched extensively, but there has been less research on the social impacts and non-financial benefits. This research aims to fill this gap and add to the discussion of ROSCAs in Cameroon (called njangis), as well as demonstrate how njangis are social institutions. This project is in the specific context of njangis in Batoufam and Yaoundé, Cameroon. Interviews and observations informed the conclusion that there are extensive social impacts and non-financial benefits within the …

Meme Stocks, Robinhood, And Wall Street: Retail Investors And Changing Market Dynamics, Nick Murray, Spencer Brosnan

Senior Theses

This thesis explores the rise of retail investors in the wake of the COVID-19 pandemic, and how they have changed the landscape of financial markets. We outline the full timeline of the GME and AMC social media craze that exemplified the power of retail investors in the market and investigate the impact the COVID-19 pandemic had on this group. Through the use of VandaTrack, a software that tracks retail investors’ trading activity, we were able to quantify the impact that retail investors have on US equities and ETFs and compare them to the market as a whole. We utilized this …

An Examination Of Income Elasticity Of Demand For American Professional Sports, Michael Hansen

Honors Theses

This study examines the economic factors of demand that affect Americans’ desire to purchase tickets for professional sporting events. Most notably, it illustrates how changing household disposable income affects demand for the quality and quantity of attendance to NBA, NFL, and MLB games. Utilizing the total annual attendance of every U.S.-based professional team in these three leagues over a nine-year period, as well as the cost of tickets and other attendance-related expenses (e.g., concession prices), we obtain the total income elasticity of demand. This study then breaks down income elasticity of demand into both its quantity and quality components through …

Active Equity Funds That Incorporate Venture Capital, Nohl Schwandtner

ALL - Honors Theses

In this paper, the performance of active equity funds that incorporate venture capital (VC) as part of their investment strategy is measured to gain insight into the value of VC use. Previous evidence suggests that VC investing requires a specialized skill set. PSN Enterprise data from 2000 to 2022 are analyzed to determine whether a sample of 24 active equity funds with VC investments obtain higher returns than non-VC funds despite their lack of experience in originating VC investments. Funds with VC investments are matched to corresponding funds without VC investments that are from the same asset class, have similar …

The Impact Of Environmental, Social And Governance (Esg) Practices On The Financial Performance Of Green Companies In Malaysia: An Empirical Analysis, Zaemah Zainuddin, Norazlina Abd. Wahab, Wahidah Shari, Muhamad Abrar Bahaman, Rosylin Mohd Yusof, Norzitah Abdul Karim

The Indonesian Capital Market Review

This study examines the relationship between Environmental, Social, and Governance (ESG) perfor- mance and the financial performance of green companies in Malaysia. Analyzing 280 observations from 56 green companies listed in Bursa Malaysia from 2016 to 2020, the study employs rigorous regression analysis. The results indicate that ESG performance does not significantly influence the financial performance of these green companies. Instead, total sales and liability significantly impact both Return on Asset (ROA) and Return on Equity (ROE). These findings suggest that, despite the growing emphasis on ESG in the business sphere, other internal factors may have a more substantial effect …

The Impact Of Government Subsidies On Ev Manufacturers, Connor Quinton

Senior Honors Theses

Government subsidies play a pivotal role in shaping the landscape of the electric vehicle (EV) industry in the United States. This research delves into the relationship between government support and the financial performance of EV manufacturers. This research aims to examine financial statements and market data to analyze the impact of government subsidies and incentives influence the revenue of EV manufacturers to provide a comprehensive understanding of the economic aspects of these policies on both individual companies and the EV sector as a whole. Beyond the financial aspects, this study will also address the ethical considerations associated with government support …

Siphoned Apart: A Portfolio Perspective On Order Flow Segmentation, Markus Baldauf, Joshua Mollner, Bart Zhou Yueshen

Research Collection Lee Kong Chian School Of Business

We study liquidity supply in fragmented markets. Market makers intermediate heterogeneous order flows, trading off spread revenue against inventory costs. Applying our model to payment for order flow (PFOF), we demonstrate that portfolio-based considerations of inventory management incentivize market makers to segment retail orders by siphoning them off-exchange. Banning order flow segmentation reduces total welfare, can make trading more costly for all investors, and can resolve a prisoner's dilemma among market makers. These results differentiate our inventory-based model from the existing information-based theories of PFOF.

Why Did Retail Liquidity Programs Fail?, Thomas Ernst, Chester Spatt, Jian Sun

Research Collection Lee Kong Chian School Of Business

Five U.S. exchanges have Retail Liquidity Programs, which operate a limit order book only accessible to market orders from retail traders. In theory, this allows competition for segmented retail order flow. In practice, volumes executed in RLPs have been very low, and obtain prices inferior to those offered by off-exchange wholesalers. We trace this failure to three distinct issues: (1) cream-skimming by wholesalers, so that ``retail'' trades in RLPs carry high adverse selection risk, (2) an inability by RLPs to display quotes without pre-trade transparency of available prices, and (3) a lack of trade-through protection, with wholesalers executing trades at …

How Does The Pace Of Digital Transformation Affect Team Viability And Performance? — The Role Of Adaptive Response, Jing Tian

Dissertations and Theses Collection (Open Access)

The national strategy of “Digital China” implemented in 2021 has catalyzed efforts to bolster the digital ecosystem across industries. With pervasive claims of digital transformation and upgrading by nearly all enterprises, digital technology permeates various sectors. This study explores, from the perspective of working teams—the smallest unit within enterprise production organizations—how the pace of digital transformation influences team viability and performance. It investigates the transmission mechanism of this effect and identifies influencing factors.

Drawing from extant research on the impact of digital technology on organizations, trends in organizational change, and psychological research on team behavior, this study establishes a theoretical …