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The Danger Of Deepfakes: Information Pollution And Epistemic Insecurity, Camille Doherty Jan 2025

The Danger Of Deepfakes: Information Pollution And Epistemic Insecurity, Camille Doherty

CMC Senior Theses

This thesis examines the dangers of deepfakes to democratic stability, emphasizing their capacity to pollute our information ecosystem and undermine trust in media. Beyond the immediate political harms from deepfake incidents, deepfakes are troubling for their impact on our collective relationship to media, truth, and one another. As exposure to deepfakes becomes more common, discerning fact from fiction will become increasingly difficult. Over time, this could foster widespread skepticism of all media and, worse, apathy toward truth itself. With eroded trust and shared truths, democracies risk losing epistemic security – the foundation for informed deliberation, decision-making, and accountability in democratic …

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The Legacy Of Housing Discrimination: Asthma Disparities In California Cities, Taylor Daetz Jan 2025

The Legacy Of Housing Discrimination: Asthma Disparities In California Cities, Taylor Daetz

CMC Senior Theses

This thesis examines the effect of discriminatory housing policy on current asthma rates in California cities. This study uses boundary design and propensity score methodologies to analyze asthma-related emergency department visits in census tracts with corresponding appraisal grades from the Home Owners’ Loan Corporation maps. The results indicate significantly higher asthma burdens in grade D (redlined) census tracts compared to grade C tracts, even when controlling for present-day pollution concentrations, with historically redlined tracts experiencing an average of 26.88 additional emergency department visits per 10,000 residents. The analysis further reveals disparities between grade C and B neighborhoods, suggesting that even …

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Abortion Access And The Economy: How The Dobbs V. Jackson Decision Impacted Female Economic Outcomes, Mia Kathleen Nelson Jan 2025

Abortion Access And The Economy: How The Dobbs V. Jackson Decision Impacted Female Economic Outcomes, Mia Kathleen Nelson

CMC Senior Theses

This thesis will aim to understand the economic impact of removing access to abortion by comparing economic outcomes in states that banned abortion with those that did not ban abortion following the Dobbs V. Jackson Supreme Court decision. By using data from the Consumer Population Survey, I created a model to estimate the impact of banning abortion on metrics such as unemployment rate and labor force participation rate. My model indicated that banning abortion in these states did have a statistically significant impact on female economic outcomes, indicating that banning abortion decreased female labor force participation rate and increased the …

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The Effect Of Variations In Us Policy Toward Taiwan On Us – China Relations, Thomas Cheah Jan 2025

The Effect Of Variations In Us Policy Toward Taiwan On Us – China Relations, Thomas Cheah

CMC Senior Theses

US foreign policy to Taiwan has been defined by strategic ambiguity ever since the 1979 Taiwan Relations Act. However, changes and variations in the intensity of strategic ambiguity have come to the fore in recent years, specifically beginning under the first Trump Administration. This has undermined US China relations in certain cases.The findings reveal that while US actions, such as arms sales and symbolic gestures, provoke short-term tensions with China, the broader bilateral relationship remains defined by economic interdependence and strategic competition.

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The Lacey Act: Balancing The Scales Of Federal Authority And Individual Liberty, Bradley Kwon Jan 2025

The Lacey Act: Balancing The Scales Of Federal Authority And Individual Liberty, Bradley Kwon

CMC Senior Theses

This thesis examines the balance between federal authority and individual liberties within the framework of American federalism, using the Lacey Act as a case study. Enacted in 1900 to regulate wildlife trafficking, the Lacey Act has undergone significant amendments that expanded federal authority and reshaped the balance of power between state governments and individual rights. By integrating theoretical insights from scholars such as Martha Derthick and Dennis LaGory, this thesis explores the federal government’s transition from a cooperative model to a coercive one, particularly during the Rights Revolution of the 1960s. The analysis highlights the legislative history of the Lacey …

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Gender Dynamics In Collaborative Settings: Analyzing Communication Variation In Same-Gender And Mixed-Gender Task Completion, Bella Lynch Jan 2025

Gender Dynamics In Collaborative Settings: Analyzing Communication Variation In Same-Gender And Mixed-Gender Task Completion, Bella Lynch

CMC Senior Theses

Previous research has highlighted the implications of pervasive gender-based stereotypes in workplace environments. Women may face barriers to entry and advancement compared to their male counterparts, and can be undermined in assessments of competency and skill. Unconscious biases, shaped by societal norms and cognitive distortions, may perpetuate inequities and influence how workers communicate and collaborate, particularly in team settings. This thesis investigates the complex dynamics of workplace communication and behavioral patterns across varying gender pair compositions, using collaborative task completion as the focal point. I analyze transcriptions of work-team conversations derived from a pilot for a large natural field experiment …

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Fiscal Zoning Under Fire: A Case Study Of Local Land Use Politics In California, George Ashford Jan 2025

Fiscal Zoning Under Fire: A Case Study Of Local Land Use Politics In California, George Ashford

CMC Senior Theses

This paper interprets interviews with participants in a local land use controversy to explore the role of voters’ financial incentives in shaping local land use politics. Drawing on previous studies that characterize the politics of urban and suburban housing development as driven by the economic incentives of different groups, predominantly homeowners’ incentive to increase residential property values, the paper seeks to address a key puzzle for scholars and reformers: why homeowners do not support land use policy changes that would increase their property values. While the literature has evolved from modeling restrictive zoning as an efficient pricing scheme for local …

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Analysis Of Banking-As-A-Service Partnerships’ Effects On The Performance Of U.S. Community Banks, Jonathan Ke Jan 2025

Analysis Of Banking-As-A-Service Partnerships’ Effects On The Performance Of U.S. Community Banks, Jonathan Ke

CMC Senior Theses

Over the past decade, financial technology (fintech) has emerged as an innovation reshaping the financial services landscape. One particular fintech that recently caught the attention of consumers and regulators is Banking-as-a-Service (BaaS). BaaS is often a partnership wherein a fintech company provides banking services, such as digital payments or lending, using the infrastructure and license of a sponsor bank. The bank manages regulatory compliance and core banking operations, while fintech focuses on developing and delivering innovative services to customers. On the one hand, BaaS partnerships allow banks to expand their customer base and service offerings without investing in extensive technological …

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National And Regional Bank Deposits And Their Relationship To The Stock Market, Joseph Zhong Jan 2025

National And Regional Bank Deposits And Their Relationship To The Stock Market, Joseph Zhong

CMC Senior Theses

Institutional investors started using bank deposits as a Leading Economic Indicator to predict stock market returns. I find that bank deposits lead stock market returns by 2 weeks at the national level. Examining the mechanism through which bank deposits affect stock market returns, existing literature postulates the Bank Deposit Lending Channel: increased bank deposits increase financial liquidity, powering and leading stock market returns. I do not find evidence for the Bank Deposit Lending Channel. In my regional analysis, I find that bank deposit behavior differs drastically between US regions. In general, regional bank deposits still lead stock market returns. In …

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Startup Equity To Stock Exchange: Key Drivers In Venture-Backed Ipo Journeys, Aryaman Shiv Khosla Jan 2025

Startup Equity To Stock Exchange: Key Drivers In Venture-Backed Ipo Journeys, Aryaman Shiv Khosla

CMC Senior Theses

This study investigates the components that shape the probability of a venture capital (VC) backed company’s ability to transition from private to public markets through an Initial Public Offering (IPO). The study employs logistic regression models to analyze firm-specific and funding-related determinants of IPO likelihood. Key predictors in this study include total VC funding, number of VC rounds, average deal size growth, size of first round, average days between rounds, company age, number of employees, and primary industry sector. The findings reveal that higher total funding increases IPO likelihood, highlighting the critical role of robust capital access in fueling growth …

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Likes, Comments, And Rhetoric: Demagoguery In The Age Of The Internet And Social Media, Andrea Posada Jan 2025

Likes, Comments, And Rhetoric: Demagoguery In The Age Of The Internet And Social Media, Andrea Posada

CMC Senior Theses

As the internet and social media have created spaces for politics, they have also facilitated the opportunity for demagogic behavior to become accessible and widespread online. This thesis compares how Donald Trump and Kamala Harris utilized social media in their respective 2016 and 2024 campaigns. It examines why Donald Trump’s online use was demagogic and harmful to political practices. I begin by defining demagoguery, providing two case studies of how demagogic behavior has existed in politics, and explaining different constraints against demagoguery. Through a history of the impact of technology on politics, I describe how the internet has evolved to …

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Understanding The Ideological Transformation Of Farc In Colombia, Savannah Grier Jan 2025

Understanding The Ideological Transformation Of Farc In Colombia, Savannah Grier

CMC Senior Theses

In 2016, the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) agreed to a peace deal that led to their disarmament. The former guerrilla group, FARC, integrated into Colombian politics by forming a new party called Comunes. FARC, thus, has taken a similar route to other former rebel groups in Latin America by pursuing its agenda as a political party after demobilizing. This thesis examines the ideological transformation and political evolution of FARC, analyzing its transition from a Marxist-Leninist insurgent group to a political party within Colombia’s democratic system. By exploring FARC’s historical role in the Colombian conflict …

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Engines Of Division: The Trabant, Economic Lag, And Cultural Fragmentation In A Unified Germany, Maria Carolina Auerbach Jan 2025

Engines Of Division: The Trabant, Economic Lag, And Cultural Fragmentation In A Unified Germany, Maria Carolina Auerbach

CMC Senior Theses

This thesis examines the Trabant, East Germany’s iconic yet inefficient automobile, as a critical lens through which to explore the enduring socio-economic and cultural disparities between East and West Germany in the aftermath of reunification. By tracing the Trabant’s trajectory from its inception within the GDR’s command economy to its rapid obsolescence in the face of Western market forces, this study reveals how the vehicle served as both a product and a symbol of East Germany’s industrial ethos, resilience, and identity. The Trabant, once a ubiquitous artifact of socialist life, embodied the constraints of a resource-scarce economy but also cultivated …

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Russia’S Involvement In Mali: Strategic Opportunism, Madeline Dornfeld Jan 2025

Russia’S Involvement In Mali: Strategic Opportunism, Madeline Dornfeld

CMC Senior Theses

This paper examines the motivations behind Russia’s involvement in Mali, focusing on the interests of both the Russian and Malian states. This analysis is complicated by the presence of Wagner Group, a semi-state security force whose ties to the Russian government have been officially denied until recently. The paper situates Russia’s engagement within a broader geopolitical context, highlighting pivotal events such as the annexation of Crimea in 2014 and the invasion of Ukraine in 2022. It argues that Russia’s engagement in Mali is part of a strategic effort to counter international isolation, expand geopolitical influence, and promote a multipolar world …

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A Wise Latina Or A Wise Judge?: Exploring How Social Identity Shapes Knowledge Acquisition, Maribella Munoz-Jimenez Jan 2025

A Wise Latina Or A Wise Judge?: Exploring How Social Identity Shapes Knowledge Acquisition, Maribella Munoz-Jimenez

CMC Senior Theses

This paper examines the intersection of epistemology and social identity through the contrasting arguments of Justices Sandra Day O’Connor and Sonia Sotomayor. Justice O’Connor’s claim that wisdom is universally accessible contrasts with Justice Sotomayor’s argument that social identities offer unique insights to decision-making. The analysis begins by defining traditional and contrasting it to standpoint epistemology, highlighting how social identity influences knowledge acquisition and supporting Justice Sotomayor’s argument (Chapter 1). It then critiques the potential pitfalls of standpoint epistemology, such as blind deference, through Dror’s weak inversion thesis and Táíwò’s perspective on how we often highlight a subsegment of marginalized voices …

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Terms, Conditions, And Responsibility: Who Is Responsible?, Dara Schoolcraft Jan 2025

Terms, Conditions, And Responsibility: Who Is Responsible?, Dara Schoolcraft

CMC Senior Theses

In this thesis I explore the dynamics of responsibility in the context of terms and conditions agreements between corporations and consumers. I begin by highlighting how the burden of understanding terms and conditions has been shifted onto consumers and examine real-world conflicts arising from this shift, such as the wrongful death lawsuit involving Disney and data-sharing practices by General Motors. I argue that consumer responsibility, rooted in Kant’s Categorical Imperative, is not a reasonable solution due to barriers like low literacy levels and information asymmetry. Instead, I advocate for a corporate-centered approach, emphasizing the ethical duty of corporations to ensure …

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Unintended Consequences: Exploring The Nexus Between Us Foreign Aid, Governance, & Conflict Fatalities, Audrey Hope Donahue Jan 2025

Unintended Consequences: Exploring The Nexus Between Us Foreign Aid, Governance, & Conflict Fatalities, Audrey Hope Donahue

CMC Senior Theses

This paper examines the impact of United States foreign aid on civil violence in recipient countries, specifically investigating the interaction between aid implementation channels—bilateral aid, implemented directly by recipient governments, vs. multilateral aid, implemented through Non-Governmental Organizations (NGOs) or other multilateral partners—and governance quality. Using a panel dataset covering 49 countries from 1996 to 2022, the study measures the effect of aid on violence through conflict-related fatalities normalized by population. A fixed-effects regression model is employed to control for country-specific and time-specific factors, revealing that in countries with poor governance, bilateral aid is associated with a reduction in conflict fatalities, …

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Sustainability Gaps: The Role Of Esg Disparities In M&A Performance During The Covid-19 Era, Anastasia Nikolaeva Jan 2025

Sustainability Gaps: The Role Of Esg Disparities In M&A Performance During The Covid-19 Era, Anastasia Nikolaeva

CMC Senior Theses

My thesis investigates the impact of environmental, social, and governance (ESG) score disparities between acquirer and target companies on cumulative abnormal returns (CAR) in mergers and acquisitions (M&A) from 2018 to 2022, particularly in light of the COVID-19 pandemic. Using Bloomberg and Refinitiv Eikon datasets, I explore whether the ESG delta between merging firms influences financial outcomes, hypothesizing that higher ESG alignment enhances CAR (cumulative abnormal return). My preliminary findings indicate that larger ESG disparities positively affect acquirer CAR but may reduce target CAR, suggesting that ESG alignment benefits vary by stakeholder and merger dynamics. These results highlight the evolving …

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Balancing Oil And Sustainability: Assessing Saudi Arabia’S Commitment To Renewable Energy Policies In The Vision 2030 Era, Christian Thomas Jan 2025

Balancing Oil And Sustainability: Assessing Saudi Arabia’S Commitment To Renewable Energy Policies In The Vision 2030 Era, Christian Thomas

CMC Senior Theses

This paper investigates the commitment of Saudi Arabia to renewable energy policies within the context of Vision 2030, with particular focus on the National Renewable Energy Program (NREP). The driving forces of this transition that are explored in this research involve environmental degradation, economic diversification, and the centralized leadership of the Saudi government, as well as systemic barriers like dependence on fossil fuel revenues, infrastructural limitations, and low public awareness. Though the findings are worthwhile regarding renewable energy and policy reform, the difficult areas of structural inefficiencies and fostering public-private collaboration still hold daunting challenges. The study concludes that the …

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Recession Resilience: Hedging With Psychologically-Based And Essential Sectors In Defensive Portfolios Amid Economic Turmoil, Ingrid Guo Jan 2025

Recession Resilience: Hedging With Psychologically-Based And Essential Sectors In Defensive Portfolios Amid Economic Turmoil, Ingrid Guo

CMC Senior Theses

This thesis examines the performance of two distinct sector-based portfolios — psychologically-based and non-psychologically-based — during three major economic downturns: the Dotcom Bubble (2000), the Great Recession (2008), and the COVID-19 Recession (2020). The psychologically-based portfolio includes industries like alcohol, beauty, and streaming services, which appeal to consumers seeking comfort or affordable indulgences during financial uncertainty. In contrast, the non-psychologically-based portfolio comprises sectors like healthcare and consumer staples, which provide essential goods and services regardless of economic conditions. Through regression analysis, this study evaluates the relative returns of both portfolios and compares them with each other. The results suggest that …

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Do Corporations Gain When They Leave California? Evidence From Equity Markets And Financial Statements, Stuart Mccallum Jan 2025

Do Corporations Gain When They Leave California? Evidence From Equity Markets And Financial Statements, Stuart Mccallum

CMC Senior Theses

This thesis examines the whether a corporation materially gains when they relocate their headquarters from California to another state. The empirical evidence comes from an event study approach looking at the stock market reaction in the days after a public announcement was made as well as a financial statement analysis approach. The initial stock market reaction on the first trading day after the announcement is made is positive and significant, with an average abnormal return of 1.22%. The magnitude of the event study findings aligns with previous studies into corporate headquarter relocation announcements. However, unlike previous studies on the stock …

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A Multiple Perspective Analysis On Urban Poverty In Developing Nations: A Case Study On Nigeria, Colonial Implications, And Modern-Day Outcomes, Julian Rivera-Williams Jan 2025

A Multiple Perspective Analysis On Urban Poverty In Developing Nations: A Case Study On Nigeria, Colonial Implications, And Modern-Day Outcomes, Julian Rivera-Williams

CMC Senior Theses

This paper will dissect urbanization and poverty in Nigeria as a case study of the challenges of underdevelopment and the lingering effects of colonialism in Africa. To draw a complete understanding of challenges faced by developing nations facing systemic underdevelopment, high poverty, and low productivity– nations like Nigeria, my research will uncover colonial impacts and post-colonial policies that initiated urban poverty and underdevelopment outcomes we see today. The purpose of my thesis is to encompass existing fragmented academia on the causes and consequences of underdevelopment and connect historical implications to current impacts of global development today including the influence of …

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Better Than Blume: An Approach To Forecasting Future Stock Betas With Linear Bayesian Models And Sample-Wide Priors, Kian Shah Jan 2025

Better Than Blume: An Approach To Forecasting Future Stock Betas With Linear Bayesian Models And Sample-Wide Priors, Kian Shah

CMC Senior Theses

This paper investigates the predictive accuracy of stock beta forecasts by comparing the widely used Blume adjusted beta to four Bayesian regression models I developed. Stock beta, an essential measure of systematic risk, plays a crucial role in portfolio management and valuation; however, raw betas lack forecasting capabilities. While various attempts have been made to develop alternative beta forecasting models, the Blume adjustment remains the most commonly used. To evaluate this, I created four Bayesian models utilizing a single, sample-wide set of priors, simplifying the computational requirements compared to stock-specific priors. The analysis is based on daily return data for …

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Uncovering Earnings Management In The U.S. Tech Industry: Strategies To Meet Or Just Beat Analyst Eps Expectations, Morgan Schilling Jan 2025

Uncovering Earnings Management In The U.S. Tech Industry: Strategies To Meet Or Just Beat Analyst Eps Expectations, Morgan Schilling

CMC Senior Theses

This paper investigates earnings management practices within the U.S. tech industry, focusing on firms that meet or just beat analyst EPS expectations. I specifically built off the Stubben (2010) model that used discretionary revenue to identify potential mismanagement across multiple industries. The modified model incorporates deferred revenue as well as accounts receivable to identify revenue recognition practices in an industry where subscription based revenue is highly relevant. I hypothesize that tech firms with aggressive revenue recognition strategies, particularly those with higher levels of accounts receivable, are more likely to engage in earnings management in order to meet EPS targets. A …

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What Factors Have Contributed To The Growth In The Unified Payments Interface In India?, Anahit Bindra Jan 2025

What Factors Have Contributed To The Growth In The Unified Payments Interface In India?, Anahit Bindra

CMC Senior Theses

The Unified Payments Interface (UPI), introduced in 2016, has driven the rapid growth of cashless transactions and digital adoption in India. By 2023, India led global real-time payments, processing 129 billion transactions. Using data from the Reserve Bank of India across 30 states and union territories, this study examines the factors driving UPI’s growth. We analyze panel data from 2018 to 2021, incorporating variables related to financial literacy, infrastructure, economic indicators, and demographics. Employing an Ordinary Least Squares model, we regress the log of the volume of UPI transactions per 1,000 people on these determinants. Our findings reveal that UPI …

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Exploring Unicorns Of India: What Are The Factors That Allow Them To Fly?, Tanisha Kejriwal Jan 2025

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 …

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Bridging The Gap: Exploring The Factors Influencing The Adoption Of Agriculture Technologies, Cyrus Gaylord Jan 2025

Bridging The Gap: Exploring The Factors Influencing The Adoption Of Agriculture Technologies, Cyrus Gaylord

CMC Senior Theses

This study investigates the factors influencing the adoption of precision agriculture technologies (AgTech) by farmers across U.S. states. While venture capital (VC) has driven innovation in AgTech startups, the adoption of these technologies by farmers is shaped by a range of economic, demographic, and behavioral factors. My research primarily focuses on demand-side factors, analyzing the role of farm size, government subsidies, education levels, digital engagement, and economic conditions in farmers' decisions to adopt AgTech solutions. Through a random-effects regression model using state-level data from 2021 and 2023, I examine how these factors influence adoption rates, finding that larger farm size, …

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From Pixels To Proposals: Exploring The Effects Of Empathy And Immersion On Economic And Moral Decision - Making In Video Games, Alex Dien Jan 2025

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 …

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Unlocking Value Or Signaling Trouble? Exploring The Determinants Of Immediate Market Reactions To Underwater Employee Option Exchanges, Riley Lai Jan 2025

Unlocking Value Or Signaling Trouble? Exploring The Determinants Of Immediate Market Reactions To Underwater Employee Option Exchanges, Riley Lai

CMC Senior Theses

Whether employee option exchanges are an effective process to ensure a firm’s future outlook is vital for companies to consider. Evaluating the impact of these exchanges on firm value and shareholder wealth can provide insights for companies to align employee incentives with shareholder interests. This paper seeks to determine a definitive correlation between employee option exchange announcements and positive or negative abnormal returns over the announcement window. The focus is on the regulatory environment post-Section 409A, a provision in the Internal Revenue Code that prohibits the issuance of in-the-money employee stock options. This paper fills a significant gap in the …

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Weathering The Storm: Examining The Impact Of Unexpected Inflation On Industry Returns, Casper Hoving Jan 2025

Weathering The Storm: Examining The Impact Of Unexpected Inflation On Industry Returns, Casper Hoving

CMC Senior Theses

This paper analyzes the cross-sectional differences of how unexpected inflation affects industry returns, controlling for market factors and firm characteristics. The methodology builds upon Bernard (1986) in trying to explain and detect differing cross-sectional effects by industry, but instead considers daily reactions to the release of monthly CPI figures. My hypothesis was that higher unexpected inflation would have a negative effect on industry returns but when controlling for market factors and firm characteristics the reactions would be dampened. The findings of this study confirm that higher unexpected inflation tends to have a negative effect on market returns, but show mixed …

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