Digital Commons Network^™

Exploring Unicorns Of India: What Are The Factors That Allow Them To Fly?, Tanisha Kejriwal

CMC Senior Theses

Over the past few decades, startups and entrepreneurial ventures have surged globally, with unicorns - private startups valued at over $1 billion - emerging as standout success stories. Today, India is home to the third largest number of unicorns in the world, and studying their success factors is becoming increasingly relevant. Using a novel dataset of 112 Indian unicorns, this paper studies economic, founder, regional and industrial factors influencing their valuation/revenue and valuation/profit ratios, in order to identify factors that lead to start-up success. I find that gender, age, total funding raised, and time taken to achieve unicorn status after …

From Pixels To Proposals: Exploring The Effects Of Empathy And Immersion On Economic And Moral Decision - Making In Video Games, Alex Dien

CMC Senior Theses

This study explores the role of immersive environments, specifically video games, in shaping empathy and decision-making during economic exchanges like the Ultimatum Game. Traditional economic models emphasize rationality, but more recent research highlights the influence of emotions and empathy on decision-making. Using a 2x2 between-subjects design, this proposed study will investigate how varying levels of immersion (active gameplay versus passive observation) and fairness of offers (fair versus unfair) affect participants' responses to non-human characters (NPCs). I plan to recruit eighty participants, aged 18-25, to engage with a video game, Red Dead Redemption 2 (Rockstar Games, 2018) either through playing or …

China’S Economic Slowdown: How Does It Affect New Zealand’S Economy?, Haven Qin

CMC Senior Theses

This paper examines the impact of China’s economic slowdown on New Zealand’s economy, focusing on sector-specific linkages across real estate, the stock market, exports, and import prices. As a small open economy, New Zealand’s deep integration with global markets makes it particularly vulnerable to external shocks from its largest trading partner. Employing OLS regression models and monthly economic data, this study reveals the nuanced pathways through which China’s economic conditions influence New Zealand. Key findings include the sensitivity of New Zealand’s housing market to Chinese property investments and Chinese stock market performance, the influence of Chinese financial market performance on …

The Impact Of Ceo Changes On The Recovery Of It Firms That Have Experienced Substantial Reductions In Value (2010-2024), Amanda Dee

CMC Senior Theses

The informational technology (IT) industry is one of the most dynamic industries, and the CEO plays a crucial role in steering innovation. The dependence on innovation is associated with dynamics that bring heightened volatility and force firms and their CEOs to confront significant challenges, particularly when navigating periods of substantial reductions in value. I define distress as three-year cumulative returns that are negative and underperform the market by more than 30%. Firms that meet this criteria during 2010-2017 are analyzed using regression models to assess how CEO change influences the likelihood of their recovery, defined as achieving nine-year cumulative returns—including …

Procedural Reform And One-Sided Litigation: Evaluating The Impact Of California’S Fair Debt Buying Practices Act, Kaitlyn Seever

CMC Senior Theses

This study evaluates whether California’s Fair Debt Buying Practices Act (CFDBPA), effective January 2014, improved litigation outcomes in consumer debt lawsuits. The CFDBPA sought to curb abusive practices by imposing heightened documentation requirements on debt buyers. Using a dataset of 535,766 limited-jurisdiction debt collection cases filed in Los Angeles County between 2012 and 2022, a constrained difference-in-differences event study design compares outcomes between secondary and non-secondary debt buyers before and after the law’s implementation.

The analysis finds modest changes: dismissals for secondary buyers increased slightly relative to non-secondary buyers, but default judgment rates remained high. Defendant response rates declined for …

You Lose, You Lag: Evidence From 2020 And 2024 On U.S. Partisan Bias, Presidential Election Defeat, And Perceived Future Real Income, Brandon O. Felix

CMC Senior Theses

Recent presidential elections, in particular the two most recent ones, have revealed striking partisan divides, not only in political attitudes but also in household economic expectations. This study investigates how partisan electoral loss shapes perceived changes in real income across income groups, using data from the University of Michigan Survey of Consumers surrounding the 2020 and 2024 U.S. presidential elections. I employ ordered logistic regression models for the baseline models and generalized ordered logistic regression models for those models with pertinent demographic controls in order to analyze the probability of respondents expecting real income losses, stability, or gains, respectively. Generating …

Skilled Immigrant Labor And Ai Innovation: A Longitudinal Panel Analysis Of H-1b Sponsorship Effects On Ai Patenting, Xinyue Zhang

CMC Senior Theses

This thesis examines how firm-level access to high-skilled immigrant labor, measured through H-1B visa petitions and approvals, affects innovation in artificial intelligence (AI). Using a panel dataset linking firm-year H-1B filings from the U.S. Citizenship and Immigration Services (USCIS) Employer Data Hub to AI patent records from the United States Patent and Trademark Office (USPTO) between 2009 and 2019, the analysis estimates fixed effects regressions predicting AI patenting activity. The results show that H-1B approvals are positively and significantly associated with future AI patent counts, while petitions alone are not. Alternative specifications using inverse hyperbolic sine transformations and changes in …

Beyond The Bank Account: Financial Inclusion And Maharashtra's Microenterprises, Kyra F. Variyava

CMC Senior Theses

Financial inclusion has evolved from mere bank account ownership to a broader imperative that encourages the active and consistent use of financial services to cultivate practices of savings and better financial management. Focusing on the underserved communities of Maharashtra’s microenterprise sector, this thesis evaluates the effectiveness of four central financial inclusion schemes: Pradhan Mantri MUDRA Yojana, Credit Guarantee Fund Trust for Micro and Small Enterprises, Stand-Up India, and Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi. This thesis develops a four-dimensional evaluative framework, assessing each scheme’s performance in accessibility, awareness and financial literacy efforts, adoption of digital services, and accountability and oversight …

Optimizing Bitcoin Allocation: Predictability Of Bitcoin Portfolio Weights Through Macroeconomic Variables, Kirby Baynes

CMC Senior Theses

This thesis examines whether Bitcoin is a beneficial asset in a diversified, mean-variance optimized portfolio and whether its portfolio weights can be reliably predicted using macroeconomic variables. Using data from December 2013 to February 2025, the analysis applies rolling-window portfolio optimization and OLS regressions with Newey-West standard errors to test the relationship between Bitcoin allocations and a set of macroeconomic indicators. Results show that Bitcoin receives non-zero weights across portfolios and that its optimal allocation is sensitive to variables such as changes in the Credit Spread and Yield Curve. These variables were statistically significant in several models and produced meaningful …

The Counter-Cyclicality Of Earnings Management: Evidence Through 2024, William J. Hall

CMC Senior Theses

This thesis examines the relationship between macroeconomic conditions and earnings management, extending the analysis of Hillegeist and Lin (2019) using updated data through 2024. Based on 16,635 firm-quarter observations, my study affirms the results found in prior literature and confirms that there is a negative association between the change in GDP and the direction of firms’ earnings management behavior, indicating that earnings management is counter-cyclical. My study also finds that firms manage earnings asymmetrically based on the current macroeconomic state, with firms managing earnings more in economic downturns and less in expansions. My findings suggest that despite major macroeconomic and …

Wage Gap And Wage Discrimination Among Persons With Disabilities: Empirical Evidence From Thailand, Natthavit Wongsrithanasarn

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study provides a comprehensive quantitative analysis of the disability wage gap and potential wage discrimination in Thailand. Utilizing data from the 2017 and 2022 Thailand Disability Surveys, this research employs the Oaxaca-Blinder decomposition technique to examine wage disparities between workers with and without physical or cognitive disabilities. The results reveal a substantial wage gap, with non-disabled workers, on average, earning approximately 50% more than persons with physical disabilities and more than twice as much as persons with cognitive disabilities. The decomposition analysis indicates that while over 75% of the wage gap for persons with physical disabilities is explained by …

Market Implied Risk-Free Rates: An Analysis Of The Put-Call Parity Implied Rate, Silviu Velovici

CGU Theses & Dissertations

This study investigates the interest rate implied by put-call parity as an alternative, market-based proxy for the risk-free rate. Studying the implied risk-free rate from option prices is important because it provides insights into how market participants collectively perceive short-term financing conditions, independent of official Treasury-Bill yields. Since Treasury securities and the LIBOR are conventionally used as proxies for the risk-free rate, any persistent discrepancy between the put-call parity implied rate and the Treasury-Bill rate, or the put-call parity implied spread, can be interpreted as a signal of market frictions, investor behavior anomalies, sentiment-driven pricing dynamics, or information asymmetries.

By …

Equipping Financial Coaches: Training And Resource Department At Western Kentucky University Center For Financial Success, Lily Martin

Mahurin Honors College Capstone Experience/Thesis Projects

Established in 2011, The Center for Financial Success (CFS) housed in the Gordon Ford College of Business at Western Kentucky University, seeks to aid the university and regional community in becoming financially informed and independent. This is achieved through peer-to-peer coaching and applied financial education. The student financial coaches are at the heart of this project, as they are essential to the CFS fulfilling its mission. Their responsibilities include conducting one-on-one financial coaching sessions with students, managing an applied personal budgeting experience for the Personal Finance class (FIN 161), and delivering presentations on financial literacy topics to various organizations, both …

Three Essays On The Impacts Of Pollution, Isaiah Chapman Bryant Sheth

Theses and Dissertations--Economics

My dissertation is broadly focused on using data to quantify the consequences of pol- lution and is organized into three chapters. Chapter one estimates the effect on infant health of drinking water contamination attributable to tropical cyclones. Chapter two examines the heterogeneous effects of a policy aimed at reducing air pollution based on pre-existing air quality conditions. Lastly, chapter three investigates how regula- tions aimed at shaping housing development to minimize climate risk impacted the housing market in Houston Texas. Each of these chapters considers different con- sequences of pollution, from direct health costs of pollution exposure to secondary effects …

Real-World Clinical And Cost Effectiveness Of Osteoporotic Treatments In Men, Yu Ren

Open Access Dissertations

Osteoporosis is a condition characterized by the loss of bone mass, which increases the risk of fractures. In 2017-2018, the age-adjusted prevalence of osteoporosis among adults aged 50 and over was 12.6%, with 19.6% in women and 4.4% in men. Untreated osteoporosis can lead to a cycle of recurrent fractures that severely impact quality of life and place significant emotional, physical, and financial strain on patients, families, and healthcare resources. Approximately 50% of women and 20% of men will experience at least one fracture in their lifetime. In the United States, an estimated 1.5 million osteoporotic fractures occur each year, …

Overcoming Obstacles To Equitable Energy Transitions And Promoting Energy Sovereignty For Us Tribal Nations, Don Lee

Dissertations, Master's Theses and Master's Reports

This dissertation explores the potential of equitable energy transitions guided by the tenets of energy justice with a focus on Tribal energy sovereignty through renewable energy development. It contributes to the literature on the social acceptance of energy systems, public perceptions of renewable energy transitions, the ramifications of US federal Tribal law on Tribal energy development and sovereignty, and the implications of conforming to capitalist logics in the energy justice literature.

To understand the importance of building reciprocal and collaborative relationships, our team of researchers and Tribal members collaborated on the development of a methodology to survey respondents in a …

When Dollar General Comes To Town, Benjamin Williams

ENGS 15.11: Design and Education

Since 2008, Dollar General has grown from 8,222 to 18,130 locations, becoming a staple of rural communities across America. These discount stores have had, and continue to have, a widespread impact on these communities. This lesson aims to inform students of these impacts, while also addressing how towns are responding to the entrance of Dollar Generals. The lesson will equip students to consider the different perspectives involved in this trend. Key concepts that will be discussed include food deserts, rural transportation difficulties, labor costs, and pricing competition.

Civilian Manufacturing And National Defense: Strategic Planning For Globalization's Challenges, Izeck Kohler

Graduate Theses/Dissertations

This thesis examines the interconnection between civilian manufacturing and national defense within the context of globalization. The study aims to identify the challenges faced by the United States in maintaining its manufacturing capabilities and to propose strategic solutions to address these challenges. Through a comprehensive analysis of historical data, case studies, and policy recommendations, the research highlights the critical role of specialized and process manufacturing sectors towards national defense. The findings suggest that the creation of a federal executive department, strategic investment, diversification, policy re-evaluation, and collaborating with allies are essential for sustaining national defense capabilities. The study concludes with …

The Challenge Of Implementing Social Justice In A Developing Market Economy: The Case Of Slovakia, Michal Valčo, Kamil Kardis

Occasional Papers on Religion in Eastern Europe

Our paper explores the challenges of implementing social justice in Slovakia, a developing market economy with a complex historical background. We provide an overview of Slovakia’s political and socio-economic transformations in the 20th century, focusing on the transition from a state-planned to a market economy (1990–2000). While analyzing contemporary challenges, we explore the role of Michael Novak’s democratic capitalism and Catholic social teaching as moral frameworks for fostering a society with a high level of social justice and cohesion. These approaches, centered on human dignity, solidarity, and ethical entrepreneurship, are contrasted and complemented with Amartya Sen’s capability approach, which offers …

Migration And Youth Unemployment In Africa: Implications For The African Continental Free Trade Area (Afcfta), S.U.R Aliyu, Afees Adebare Salisu, Oyeyemi Kale

Journal of African Trade

This research explores the impact of migration within Africa on youth unemployment. The study makes two sig nificant contributions to existing literature. First, it investigates how intra-African migration can potentially support intra-African trade to enhance productivity and reduce youth unemployment. Second, it estimates the effects of intra African migration on male and female youth unemployment. The research methodology comprises using a two-level estimation involving the Poisson Pseudo Maximum Likelihood (PPML) technique and a Two-Stage Least Squares approach addressing endogeneity bias. Furthermore, a Negative Binomial Maximum Likelihood estimator was utilized to test the model's robustness. The results indicate that higher per …

Covid-19'S Impact On Grocery Expenditure Amid The Rise Of Social Media's Unattainable Wellness Culture Within Beverage Products, Ava Hinz

Scripps Senior Theses

This paper explores post-pandemic consumption through two different lens: economics and media studies. First, I will focus on COVID-19’s impact on the expenditure of grocery goods. Then I will explore how today’s wellness culture is made unattainable through social media by examining an organic grocery store and two beverage products. By examining these two areas of consumption, it provides critical information on an individual’s consumption during the unique shocks of the pandemic and the cultural context behind those actions.

Examining The Industrial Impact Of Fintech Lending In The Post-Next Normal Era, Nur 'Asyiqin Ramdhan, Imbarine Bujang, Amirul Afif Muhamat, Purwatiningsih Lisdiono

The Indonesian Capital Market Review

The financial sector has undergone a substantial paradigm shift as a consequence of the COVID-19 pandemic prompting industries actively innovate their financing method. Utilizing ARDL, our analysis reveals intriguing insights into the interaction of financing determinants interruptions caused by the epidemic, and the P2P lending success. The long-term effects of economic conditions alluding to the significant influence of investment size across various industrial sectors. The industrial differences suggest interesting connections between the size of investments, and loan tenure to the P2P lending in different industries. The wholesale and retail trade sector demonstrates intricate reactions to changes in investment size, while …

Volatility Spillover Across Energy Markets, Mohammad Taisir Bani Hani

Wayne State University Dissertations

This study examines price volatility spillovers between two major world crude oil benchmarks, WTI and Brent, as well as between WTI and its refinery products using daily data from 1987 to 2023. The analysis focuses on two key phenomena: the financialization of commodity markets and the fracking revolution. To capture these dynamics, the study employs two models: the BEKK-GARCH model by Engle and Kroner (1995) and the D-Y volatility index by Diebold and Yilmaz (2009, 2012). Findings reveal that both phenomena significantly influence the direction and magnitude of volatility spillovers between these markets. Specifically, results from the D-Y index show …

Measuring Income And Income Inequality, Conor Clarke, Wojciech Kopczuk

Scholarship@WashULaw

Income inequality is important, but attempts to measure it arrive at strikingly different conclusions. Why? We use recent disputes over measuring United States income inequality to return to first principles about both the income concept and inequality measurement. We emphasize two broad points. First, no measure of the income distribution is truly comprehensive, or could attempt to be comprehensive without making controversial choices. We document the practical and conceptual problems that the standard ideal—comprehensive Haig-Simons income—raises. Second, much of the controversy in this area turns on the many tradeoffs between starting with individual tax data versus more expansive income concepts. …

Three Essays On Sustainability Economics, Hélène Flore Nguemgaing

Graduate Theses, Dissertations, and Problem Reports (ETD)

As global economies face increasing resource dependencies and supply chain challenges, it becomes essential to understand the vulnerabilities that threaten economic stability. This dissertation investigates three empirical issues in agribusiness and critical minerals using econometric models to estimate the following: 1) the impact of supply chain disruptions on stock market returns during COVID-19; 2) the extraction of rare earth elements from acid mine drainage treatment by investigating the impacts of ownership and legislation in West Virginia and Pennsylvania; 3) China-to�FOBb (Free-on-Board) price transmission in rare earth elements markets: a copula-based dynamic tail dependence analysis.

The first essay evaluates how events …

Hunting And Fishing Ceos: Environmental Plunderers Or Saviors?, Thomas Covington, Steve Widler, Keven Yost

Finance Faculty Works

CEOs who participate in hunting and fishing benefit by appreciating natural environments and permanently consuming natural resources. We examine whether CEOs who hunt and fish make different environmental decisions and find that firms led by CEOs who obtain the most hunting and fishing licenses have lower environmental performance as measured by MSCI-KLD. This effect is strongest in the environmental category of climate change but also extends to pollution, waste, and the protection of natural capital. Furthermore, firms led by CEOs with the most hunting and fishing licenses are significantly more likely to pay a regulatory settlement for an environmental regulatory …

Complainer's Dilemma, Greg Leo, Jennifer Pate

Economics Faculty Works

Technological innovations have made complaining easier. Often, when it is easy to complain, only problems that meet a high threshold of complaints are addressed. We present a novel model of the strategic environment facing complainers and demonstrate that the properties of the resulting games' equilibria justify the existence of high complaint thresholds. By setting the thresholds appropriately, an administrator can prevent complaints that are not worth addressing. Policies that minimize the cost of complaining while requiring a large threshold are universally more efficient for large constituencies. Our results regarding the equilibrium for large constituencies are facilitated by the application of …

Differential Effects Of Health Insurance Coverage On Health For Sexual Minorities, Ruby W. Morr

Theses and Dissertations

Much existing research has found a substantial gap in health between sexual minorities and non-minorities. This is usually attributed to discrimination or access to care. I seek to find the role that insurance plays, including minorities' choices of insurance coverage. If a gap does exist, insurance may have a stronger impact on sexual minorities. Also, if minorities are less likely to have insurance coverage, they may be susceptible to worse health. I confirm results from the literature that sexual minorities do have worse health. While health insurance accounts for some of the gap, it is only a small portion, though …

Pengaruh Bencana Alam Terhadap Pdrb Provinsi Di Indonesia: Pendekatan Model Pertumbuhan Solow-Swan, Nur Janah Wariyanti, Dwi Rahmayani

Jurnal Ekonomi dan Pembangunan Indonesia

Natural disasters are a problem for a country’s economy. This research aims to analyze the influence of natural disasters, Gross Fixed Capital Formation (GFCF), Human Development Index (HDI), and Labor Force Participation Rate (LFPR) on the Gross Regional Domestic Product (GRDP) of 31 Provinces in Indonesia from 2011 to 2023. Research method uses panel data regression with Fixed Effect Model estimation. The results of this research show that GFCF and HDI can increase value GRDP in Indonesia. LFPR does not have a significant effect in a positive direction on GRDP in Indonesia and natural disasters do not have a significant …

Studi Komparasi Kesiapan Indonesia Menerapkan Carbon Trade 2025, Muhammad Rayhan Ali Ferdiansyah, Hanif Rosyadah, Fikri Fajar Ramadhan

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to assess Indonesia’s readiness to implement carbon trading in 2025 to achieve net zero emissions by 2060. The research uses a mixed-method approach, combining literature review, multivariate linear regression, and Vector Error Correction Model (VECM). The results indicate that the Human Development Index (HDI) has a negative and significant impact on CO2 emissions in the long term. This impact is greater than the results observed in Singapore and Thailand. With established policies and a demographic bonus in 2045, optimizing human resources is crucial for achieving net zero emissions by 2060.