Business Commons^™

The Impact Of Increased Cigarette Prices On Cigarette Consumption, Bohyun Yoo

MPA/MPP/MPFM Capstone Projects

The objective of this study examines whether the way to raise cigarette prices drastically and discontinuously is effective in reducing cigarette consumption. We use monthly data for cigarette consumption to measure the price elasticity of cigarettes’ demand and adopt real cigarette prices, real individual income, education level, and unemployment rate as independent variables. We consider how consumers adjust their consumption practices in response to the increased prices. After examining the result of regression, we conclude that cigarette real price has a significant association with the reduction in cigarette consumption. If we divide the last twelve years into periods when prices …

The Determinants Of Successful Angel Investors, Hu Guen Sohn

MPA/MPP/MPFM Capstone Projects

Angel investors are wealthy individuals who provide capital for business start-ups in return for an ownership stake. The outcomes of angel investments are not high for all angels and not evenly distributed among all investors. I examine what characteristics of angel investors affect the outcome of their investments.

This research is based on a North American survey data set. I use the internal rate of return to measure the performance of angel investments. More specifically, I use three different standards to code it as success or failure: median standard, mean standard, and higher standard. Then, I use OLS and a …