Business Commons^™

The Effects Of The Covid-19 Pandemic On Mergers And Acquisitions, Goodwill, And Goodwill Impairment In The Technology Industry, Dee Webster

Honors Scholar Theses

I explore associations between COVID-19 and changes in mergers and acquisitions (M&As), goodwill valuation, and goodwill impairments in the technology industry. Prior literature explores the pandemic’s effects on the dynamics of M&As, goodwill, and goodwill impairment, but are not specific to the pandemic’s impact on the technology industry. This study references prior literature to provide conceptual support as well as research findings to examine the overall changes in technology companies of interest in this study. First, I find that M&A activity before COVID-19 and during COVID-19 was not substantially different when averaged. Second, I find that there was a significant …

Assessing Leadership In Business: A Critical Investigation Of Elon Musk, Agnieszka Miklaszewicz

Honors Scholar Theses

This paper provides an in-depth analysis of Elon Musk's leadership style across all his companies. Elon Musk, known for his passion for innovation and helping humanity, has founded and led several successful companies, including Tesla, SpaceX, Neuralink, The Boring Company, and Twitter. The paper explores Musk's background, including his early entrepreneurial ventures and risk-taking attitude, highlighting his unique approach to leadership. The analysis focuses on Musk's leadership characteristics, drawing on the article "Decoding Leadership: What Really Matters," which identifies effective leadership traits such as being supportive, results-oriented, seeking different perspectives, and problem-solving. Furthermore, the paper examines Musk's leadership styles based …

Exploring The Viability Of Gold Jewelry As A Diversifying And Safe-Haven Investment, Monica Pydipati

Honors Scholar Theses

The purpose of this paper is to analyze the potential benefits of the inclusion of gold jewelry in a traditional investment portfolio. A popular commodity investment choice, gold has been lauded for its various diversification and safe-haven characteristics. Popular investment forms include paper gold, gold bars and gold coins. However, gold jewelry, although officially categorized as a retail purchase, is often bought with the intention of investment as well. This paper examines the diversification benefits of gold jewelry by measuring the performance of a portfolio in which gold jewelry is present, using multiple performance measures to determine its risk and …

An Analysis Of The Effectiveness Of Virtual Reality In Distance Learning, Rashana Weerasinghe

Honors Scholar Theses

This study focuses on the applicability of emerging technologies in education. To explore this, our research was conducted through an “Intro To Emerging Technology” course taught by the OPIM Department at the University of Connecticut. The class meets in two modalities: virtual reality environment and video-conferencing platform. Our research explores the learning outcomes produced by the different classroom environments, seeking to better understand the impact of virtual reality in distance learning. The purpose of this is to identify and predict how virtual reality will be integrated into a distance learning environment and understand if it can be used as a …

Sec Reporting Of Cybersecurity Incidents, Michaela Morosky

Honors Scholar Theses

This paper documents the reporting to the SEC of 197 major incidents of cybersecurity breaches among public firms in the years 2011-2019. My goal is to contribute to the debate on the need to revise the disclosure guidance by evaluating the extent to which cybersecurity breaches are disclosed in SEC filings under the current regulatory regime. In evaluating the individual breaches, I document whether prior to the SEC’s 2022 proposed amendment, firms were already following the SEC recommendation of disclosing material cybersecurity breaches in a timely manner. I find that it is extremely rare for a firm to follow the …

Impact Of The Quality Of Esg Reporting On Profitability Of Trucking And Oil Companies, Diane Meng

Honors Scholar Theses

A growing number of companies have been providing disclosures regarding ESG issues and goals in their financial reports. Studies have investigated the association between the quality of ESG reporting and the financial performance of various companies, which showed various results. However, the association between the two factors remains unclear. In this study, I examine the relationship between the quality of ESG reporting and the profitability of companies in the trucking and oil industries from 2011 to 2020. I predict that greater quality of ESG reporting results in higher profitability of companies in both industries. Overall, the results of this study …

A Case For Improved Financial Literacy Education In The United States, Nicholas Kinsella

Honors Scholar Theses

The purpose of this paper was to analyze what financial literacy is and explain in detail the shortfalls that the United States is currently facing in their financial literacy education. This paper will lay out the movement of states and colleges including more personal finance curriculum in their graduation requirements, why a financial literate population is important to topics such as managing student loan debt, retirement planning, professional development, and mental health among others. It will then conclude covering ways to improve current financial literacy education strategies with technology, experiential learning, and transparency.

Internationalization For Whom And For What? Ethical Questions For Sport Management Programs In Global North Universities, Chen Chen

Sport Management Collection

This paper maps the ethical complexities underlying the internationalization of sport management programs in Global North universities. Drawing upon postcolonial theory, critical internationalization studies, and studies of global ethics, I review the current articulations that concern the internationalization of sport management programs and highlight the limitations therein - that is, they are primarily articulated from a liberal global imaginary. In introducing the critical and decolonial ethics frameworks, I present some alternative possibilities to envision internationalization practices and policies in sport management programs. Sport management scholars and educators located in Global North institutions are encouraged to confront the ethical challenges of …

The Association Fallacy – Fraud And Financial Reporting Quality In The Customer-Supplier Relationship, Nicholas Willett

Honors Scholar Theses

As with individuals, corporate entities are vulnerable to committing logical fallacies in the decision-making process. One such fallacy that has been observed across multiple disciplines is the phenomenon of guilt by association, here referred to as the “association fallacy.” In this study, I demonstrate the existence of the association fallacy within historical customer-supplier relationships, during which the supplier is named in an SEC Accounting and Auditing Enforcement Release (AAER). A panel regression is employed to track indicators of customer earnings management behavior in the years before, during, and after the supplier AAER. A cross-sectional analysis is also used to assess …

Wrack Lines Volume 21, Number 1, Born Out Of Crises: Responses, Research And Reflections On A Better Future, Lynn Bonner, Robert J. Klee, Robert Pomeroy, Judy A. Benson

Wrack Lines

Articles in this issue explore various actions taken in response to different crises: lessons about the environment from the COVID-19 pandemic; how seafood sellers in the CT and Southeast Asia responded to the challenges of the pandemic; how the challenges of rising seas and developed coasts are being dealt with through managed retreat, buyouts and other actions in NC and CT; and research on the long-term effects of the Deepwater Horizon oil spill on dolphins led by CTSG Director Sylvain De Guise.

Climate Change Preparedness In The Insurance Sector, Daniel Fischler

Honors Scholar Theses

Climate change is the inevitable consequence of human activity since the industrial revolution began centuries ago. Assuming humanity survives and adapts to this scenario, there will be significant impacts on the economy and business. Under these circumstances, the insurance sector in particular will face challenges as the frequency and severity of losses increase due to climate change related events. This paper aims to analyze various options for allowing insurance to maintain viability in this changing environment. The general issue for the future is premiums must be commensurate with climate change related risk in affected areas. As a result, certain coastal …

The Microfinance Experiment: An Evaluation Of Programs And Effectiveness In St. Louis, Maxwell Miller

Honors Scholar Theses

Widespread poverty remains a reality for many in both developed and developing countries. Policymakers, charitable organizations, and entrepreneurs have introduced diverse strategies to provide individuals and communities opportunities to rise from poverty. One such method is microfinance, a system developed by Muhammad Yunus in the early 1970s to provide small loans and financial services to borrowers too impoverished or otherwise lacking in credibility or collateral to be considered by traditional means of credit.

Since its inception, microfinance has spread among other countries to mixed success. While many researchers claim microfinance has proven to be an effective tool to combat poverty, …

Evaluating Urban Parks Accessibility And Equity: A Case Study Of Hartford, Ct And New Haven, Ct, Natalie Roach, Mara Tu

Honors Scholar Theses

Public parks provide cities with environmental benefits, positive health effects, recreational opportunities, community building, educational spaces, and public amenities. However, certain populations have been systematically denied their fair share of these benefits because of unjust practices in the creation and maintenance of urban parks. With a lens of environmental justice, the goal of this research was to assess park quality and accessibility of two Connecticut cities, Hartford and New Haven, by gathering publicly available information as well as using GIS tools.

The Trust for Public Land (TPL) has an existing ParkScore rating system that evaluates the quality of a city’s …

Tax Efficient Supply Chains: Analysis Of Multinational Corporations With Swiss Subsidiaries, David Liu

Honors Scholar Theses

I examine whether U.S. corporations can strategically organize global supply chains to achieve tax efficiency by creating or acquiring subsidiaries in Switzerland. In particular, I study if there is an association between a firm’s use of Swiss subsidiaries and the firm’s effective tax rate using a sample of firm years from 1998 to 2013. Under U.S. rules prior to the Tax Cuts and Jobs Act of 2017 (TCJA), firms with subsidiaries in low-tax-rate foreign countries (e.g., Switzerland) could generally avoid U.S. tax on foreign income by not repatriating income. The 2014 Caterpillar Inc. case study offers an example of how …

The Impact Of Crises On The Shift In Capital Flows From Active To Passive Investment Strategies, Jordan Wang

Honors Scholar Theses

The study investigates the plausibility of an active to passive transition, the impact of crises on the potential transition, and the performance-flow relationship of both active and passive investment products, which includes US equity, open-end and ETF, funds. The analysis compares active and passive funds through the lens of fund flows, absolute returns, and risk-adjusted returns. The study shows that there seemed to be an active to passive transition from 2007 – 2019 and that 2020 – 2021 exhibits measures that could describe changes in the active to passive narrative. A performance-flow relationship exists across both active and passive funds. …

Assessing Leadership In Business – Finance: A Critical Investigation Of Jamie Dimon, Kelly Finn

Honors Scholar Theses

Jamie Dimon became the CEO of J.P. Morgan Chase over a decade ago at age 49. Since, Jamie has earned his place as the world’s top, longest-reigning Wall Street leader. That said, Jamie Dimon was not always as successful as his title and reputation might suggest. In 1998, he was fired from his position as CEO of Citigroup by his own decade-long mentor, Sandy Weill (Dealbook, 2014). It is precisely Jamie’s ability to overcome this major career obstacle that threatened his reputation and career success. The way he handled his own firing with professionalism, strategy, and resiliency enabled his rebound …

Exploring An Alternative To Ipos: Special-Purpose Acquisition Companies (Spacs), Vaishali Kanamalla

Honors Scholar Theses

The purpose of this research paper is to provide an overview of Special Purpose Acquisition Companies (SPACs) which has gained popularity relatively recently. First, an introduction to SPACs will be provided including its historical roots, structure, and investment process. Thereafter, the paper will walk through the current landscape of SPACs, criticisms, and comparisons with traditional IPOs. The paper will conclude with discussions on the future outlook of the investment vehicle along with a study on SPAC returns vs. those of traditional IPOs.

The Impact Of Asu 2016-14 On Not-For-Profit Operating Cash Flow Presentation, Grace Lauber

Honors Scholar Theses

In 2011, FASB added a project to its agenda to improve financial statement reporting for not-for-profit (NFP) entities. They issued a proposal in 2015 that would require all NFPs to use the direct method to report operating cash flows on the statement of cash flows. This proposal received a wide range of feedback from NFPs via comment letters. In response to this feedback, FASB altered the final update, ASU 2016-14, to continue allowing the indirect method. However, they encouraged use of the direct method by removing the indirect method reconciliation requirement for NFPs. This study examines the responses of 129 …

Assessing Leadership In Business – Marketing: A Critical Investigation Of Reed Hastings, Nolan Mcandrew

Honors Scholar Theses

Understanding what makes a good leader is a topic of ongoing interest in the practice of business. Research to-date has distinguished between being a manager and being a leader and has also established a set of principles to consider in assessing leadership. In this thesis, I draw upon principles of leadership, including emotional intelligence; vision creation; inspiring others; leading in good and difficult times; fostering, developing and recognizing others; and creating a winning culture to offer a critical assessment of Reed Hastings as a leader within the business arena.

Corporate Social Responsibility Reporting: The Case Of The Fashion Industry, Karina Zhao

Honors Scholar Theses

This paper examines the nature of corporate social responsibility (CSR), with a focus on corporations within the fashion industry. First, I discuss the evolution of CSR from its origin in the 1930s until present day, along with global trends that have risen in respect to emerging economies, industry sectors, and regulatory change. Then, I summarize factors that motivate firms to prepare and provide CSR reports – i.e., the determinants of voluntary disclosure of CSR reports. In addition, I discuss to what extent these reports are regulated and assured across the globe, as an increasing number of corporations participate in disclosing …

Evaluating The Cost Of A Lapse In Life Insurance And Its Implications On Developing A Policyholder Retention Strategy For A Company, Peiyi Zhang

Honors Scholar Theses

In the insurance industry, many companies focus on policyholder retention as one of their key tools to retain premiums collected from customers. Customers may lapse after their purchases. Insurance companies will not receive premiums and have to pay out surrender benefits which makes it costly for an insurer. Indeed, understanding the cost of a lapse is important to retain policyholders. This paper focuses on the cost of a lapse in life insurance, and its implications on developing policyholder retention strategies. The first part of the paper summarizes the general background of life insurance, lapses, and conservation strategies. The second part …

Analyzing Competitive Balance In Professional Sport, Kevin Alwell

Honors Scholar Theses

In this paper we review several measures to statistically analyze competitive balance and report which leagues have a wider variance of performance amongst its competitors. Each league seeks to maintain high levels of parity, making matches and overall season more unpredictable and appealing to the general audience. Here we quantify competitive advantage across major sports leagues in numbers using several statistical methods in order for leagues to optimize their revenue.

Consumer Response To Green Brands Vs. Traditional Brands On Digital Platforms: An Analysis Through A Series Of Case Studies, Madison Busick

Honors Scholar Theses

In the age of environmental crisis, consumers are increasingly aware of the environmental impact of their decisions. Accordingly, many companies seek to provide more eco-friendly and sustainable products while building their brand around these values. Consumers also are increasingly using and engaging on social media and other digital platforms. But just how well do these "green" brands do in the digital space? This study aims to compare differences between brands that embody environmentalist values and traditional brands with a variety of case studies across several consumer goods segments including clothing, cosmetics, and technology. The data is collected from a variety …

Is China Stealing Our Tech? A Look Into The Role Of Intellectual Property Rights In Us-China Trade Relations, Ryan Chester

Honors Scholar Theses

This thesis aims to further the current scholarship on Intellectual Property Rights (IPR) and their effects on international trade and the US-China trade relationship more specifically. The main analysis of this thesis is a quantitative cross-country analysis of over 100 countries to see how IPR plays a role in international trade, while analyzing how the Sino-US trade relationship fits into larger trends. This thesis aims to answer the questions as follows: What are the current policies surrounding Intellectual Property Rights between China and the US? Does increasing the strength of IPR laws influence imports? Does the strength of a country’s …

User Research And Real User Problems: Improving The User Experience Of Online Shopping, Lauren Ciulla

Honors Scholar Theses

“User Research and Real User Problems: Improving the User Experience of Online Shopping” is a creative thesis project that incorporates user research, user experience design, and coding skills. The first phase of the project consisted of market research and generative user research to develop a plan for a shopping companion app. The findings of this research shaped the scope of the project according to user needs and established the basis of a plan to create a progressive web application and Google Chrome browser extension that will respond to specific user problems. These tools would solve three key user problems: users …

Ethical Dilemmas Surrounding Manufacturing Offshoring: Assessing The Morality Of Offshoring Decisions Through A Utilitarian Viewpoint, Luis Encinas

Honors Scholar Theses

The purpose of this paper to assess the ethical dilemmas that exist when American companies offshore manufacturing work to cheaper labor markets abroad through a utilitarian perspective. The paper will explain what offshoring is and what has driven American companies into engaging in this practice. Next, the criteria for the utilitarian assessment will be explained. After, I will examine the effects on the U.S labor force, U.S economy, and the foreign labor force through two case studies: the Bangladeshi apparel industry and the Mexican maquiladoras industry. Finally, the paper will offer some suggestions for making this practice more ethical in …

The Effect Of Sox 404(B) On Large Non-Accelerated Filers’ Earnings Per Share Rounding Behavior, David Bigos

Honors Scholar Theses

I examine whether firms with the ability to manipulate earnings per share (EPS) rounding and the incentive to defer the Sarbanes-Oxley Act of 2002 Section 404(b) (SOX 404(b)) compliance round down EPS to understate earnings before a public float evaluation in the second fiscal quarter. I build on existing literature that acknowledges some firms may manipulate the post-decimal (thousandths) digit of EPS and that firms near the SOX 404(b) public float compliance threshold may initiate avoidance techniques to defer the marginal cost of an Internal Controls over Financial Reporting (ICFR) external audit. By comparing the rounding behavior of accelerated filers …

Shootings And Their Effect On Stock Price And Volume In The Firearm Manufacturing Industry, Conor O'Donnell

Honors Scholar Theses

This article investigates how mass shootings are influencing the price and trading volume of firearm manufacturers differently than the previously documented “fear-based” gun sales price spikes. (Wallace, 2015). It is expected that, following a mass shooting, firearms sales increase due to a fear of legislation banning products and a limited timeframe to obtain them. For instance, The Financial Times of London reported 52% increase of gun sales in the year following the Sandy Hook shooting; however, in the long term, if there is regulation that limits the autonomy of manufacturers then investors would be inclined to divest in firearms manufacturers. …

Understanding Volatility: An Analysis Of The Stock Market Return-Variance Correlation, Richard Traub

Honors Scholar Theses

This paper attempts to explain the negative correlation between stock market returns in the United States (measured by the risk premium of the S&P 500 Index) and the respective volatility of these returns. The academic research regarding two primary schools of thought on this issue, the volatility feedback effect and the leverage effect, is furthered as potential explanations for this phenomenon. A tertiary explanation relating to investor behavior is also explored as a viable cause. In order to empirically study this relationship, I examine the risk premium quintiles and the corresponding CBOE Volatility Index levels for the time-series dating from …

An Analysis Of The Business Structures And Performance Of Traditional Vs. "Freemium" Applications, Daztar Pagdiwala

Honors Scholar Theses

This thesis will examine the rationale and financial success of “freemium” applications versus traditional applications. I define what the “freemium” model is, and how it compares to the traditional (premium) and “free trial” models. In addition, I discuss the value proposition of the business structure, and how it is fully dependent on the consumer’s ability to perceive an increase in value through the purchase of additional features. I also analyze the major positive and negative aspects of the “freemium structure.

Overall trends that I note in the paper include a general shift towards “freemium” and “subscription” based products; within the …