Business Commons^™

The Formal Institutional Context Of Informal Entrepreneurship: A Cross-National, Configurational-Based Perspective, Joshua K. Ault, Andrew Spicer

Faculty Publications

While previous comparative research has identified the formal institutional conditions that differentiate countries on their degree of informal entrepreneurship, this paper examines the characteristics that shape cross-national diversity in its type. Based on a series of fuzzy-set qualitative comparative analyses (fs/QCA) of 138 country cases, we find evidence of causal heterogeneity in the configuration of institutional conditions associated with entrepreneurial outcomes that are informal and growth-oriented and those that are informal and subsistence-oriented. Given our results, we propose that the formal institutional-based conditions that differentiate between types of informal sectors are best identified by the conjoint mixture of strength and …

From Shaq To Serena Williams: An Analysis Of Celebrity Spacs, John Boyar

Senior Theses

Special Purpose Acquisition Companies (SPACs) surged in popularity in 2020 and 2021. For the first time in U.S. history, more SPAC IPOs occurred in a particular year than traditional IPOs and direct listings. Amidst the increase in SPAC IPOs, an expanding number of celebrities became involved with these investment vehicles. This thesis investigates the trend of celebrity backed SPACs by examining how celebrity involvement or association with a SPAC may affect the performance of these equities in the market.

This study examines the SPAC period returns, deSPAC period returns, IPO sizes, deal lengths, and PIPE financing amounts of 339 SPAC …

The Implications Of Fraud On Non-Shareholder Stakeholders, Chasen P. Spicer

Senior Theses

Popular news outlets such as The New York Times or The Wall Street Journal frequently release articles detailing the financial losses incurred by shareholders of a company that have recently been publicly exposed for their fraudulent activities (Shumsky, 2018; Whitmire, 2005). Given that shareholders are visibly impacted by fraud, it is also reasonable to believe that other stakeholders experience repercussions from the fraudulent activities carried out by the company (Velikonja, 2013). To provide more insight into the implications of fraud incurred by non-shareholder stakeholders, I conduct a case study analysis of HealthSouth’s various fraudulent activities between the years of 1997 …

Millennial Retention Through Wellness In The Automotive Manufacturing Industry, Caroline Patterson

Senior Theses

Wellness programs are known to be effective and beneficial to both companies and their employees, especially among millennials. Even more importance is now assigned to implementing new strategies for attracting and retaining millennials in the wake of the Great Resignation. This is imperative particularly for automotive manufacturing companies. Attracting and retaining millennials effectively can be done by considering and implementing holistic wellness programs that address all four of the following factors: physical health, mental and emotional health, community and family health, and financial health. Within these four pillars, a company should integrate incentives; accessibility and flexibility; diversity equity and inclusion; …

When And Why Targeted Products For Underserved Consumers Backfire, Ruoou Li

Theses and Dissertations

As the demand for creating and embracing a diverse marketplace increases, marketing strategies that over-generalize the needs of different consumer groups are no longer viable. Thus, many brands and companies have begun offering inclusive products that accommodate the specific needs of historically underserved consumers (e.g., women, people of color). One important question for marketers to answer is how these inclusive products should be promoted to appeal to these previously undervalued consumers. While prior research suggests that consumers will favor products with more explicit descriptions of the target consumer (i.e., blatant targeting) because doing so makes the targeted identity salient, I …

Revisiting Institutional Voids: Advancing The International Business Literature By Leveraging Social Sciences, Marleen Dieleman, Stanislav Markus, Tazeeb Rajwani, George O. White Iii

Faculty Publications

Institutions are vital for solving collective action problems and enabling functioning markets. Based on this notion, the institutional voids literature has offered a dynamic research agenda for international business scholarship. In this perspective article, we leverage work from political science, development economics, legal studies, and anthropology to: (a) expose hidden assumptions about institutional voids in the management literature; (b) propose new directions for research based on our revised assumptions; and (c) provide direction-specific theoretical constructs from other social sciences to stimulate theory-building and empirical inquiry into institutional voids. We develop a framework that identifies four revised assumptions about institutional voids …

Populist Syndrome And Nonmarket Strategy, Daniel J. Blake, Stanislav Markus, Julio Martinez-Suarez

Faculty Publications

Although recognized as a defining feature of the current political era, populism and its implications for non-market strategy remain undertheorized. We offer a framework that (a) conceptualizes populism and its progression over time; (b) outlines the risks populism generates for firms; and (c) theorizes effective nonmarket strategies under populism. Our framework anchors the political risk profile of populism in three interdependent elements: anti-establishment ideology, de-institutionalization, and short-term policy bias. These elements jointly shape the policymaking dy-namics and institutional risks for firms under populism. Our analysis shows how firms can calibrate two nonmarket strategies – political ties and corporate social responsibility …

“No Tits In The Pits!”: An Exploratory Analysis Of The Experiences Of Female Decision Makers In Motorsports In The United States, Alexia Pedo Lopes

Theses and Dissertations

This study explored the lived experiences of sixteen women who have decision-making roles in motorsports in the United States. The purpose was to shed light on the experiences of women who broke the glass ceiling in this unexplored male-dominated industry (Glass & Cook, 2016). The challenges these women encountered along with the mechanisms they employed to navigate those, and finally their motivation to continue pursuing a career in this industry, were assessed via in-depth semi-structured interviews and then the data was analyzed following a constant comparison thematic analysis. Challenges and coping mechanisms were classified according to the four levels, namely …

Affective Risk Perceptions Toward Travel In A Covid Era: Policy And State Political Influences, Chloe Riley

Theses and Dissertations

This paper aims to analyze the influence of state political affiliation and policy on affective risk perceptions, in the context of COVID-19. The study of risk perceptions in the travel literature is important because it can help industry leaders predict tourist decision-making and ensure feelings of safety for travelers. The relevance of risk perceptions has become even more apparent since the start of the COVID-19 pandemic. This study analyzes three policies put into place to mitigate the spread of COVID-19: mask mandate, cancellation of public events, and school closures. Affective risk perceptions were measured by the Tourism Crisis Management Initiative’s …

Reconceptualizing Informal Learning In An Online Learning Environment, Silvia Clark

Theses and Dissertations

In 2020, many organizations moved their formal training programs to an online learning context due to COVID-19. Informal learning, which refers to activities that are self-guided and occur independently outside of formal learning contexts has gained significant interest among researchers and practitioners in the past two decades as it has been identified as the primary type of learning in today's organizations. Despite the increasing interest in informal learning, no attempt has been made to examine and understand informal learning in an online learning environment.

This dissertation provides an integrative review of prior work on formal and informal learning in online …

The Most Important Human Capital Resource: A Strategic Human Resources Perspective On Top Management Team Effectiveness, Spenser Michael Essman

Theses and Dissertations

This dissertation comprises two studies that theoretically and empirically examine a critical human capital resource, the top management team (TMT). In the first chapter, I propose a conceptual model that focuses on the context in which TMTs are embedded, by building on recent theory suggesting that the TMT is embedded within a multiteam system, referred to as a strategic leadership system. Specifically, I suggest that functional leadership teams – decision making groups responsible for managing firm functions and business units (e.g. finance; human resources) – are likely to be a part of the strategic leadership system, and develop theory regarding …

Unrestricted Factor Analysis: A Powerful Alternative To Confirmatory Factor Analysis, Jan-Benedict E.M. Steenkamp, Alberto Maydeu-Olivares

Faculty Publications

The gold standard for modeling multiple indicator measurement data is confirmatory factor analysis (CFA), which has many statistical advantages over traditional exploratory factor analysis (EFA). In most CFA applications, items are assumed to be pure indicators of the construct they intend to measure. However, despite our best efforts, this is often not the case. Cross-loadings incorrectly set to zero can only be expressed through the correlations between the factors, leading to biased factor correlations and to biased structural (regression) parameter estimates. This article introduces a third approach, which has emerged in the psychometric literature, viz., unrestricted factor analysis (UFA). UFA …

Long-Term Business Implications Of Russia’S War In Ukraine, Stanislav Markus

Faculty Publications

Following its invasion of Ukraine, Russia’s macroeconomic stability will worsen; foreign trade and Russia-bound investment will dry up; and human capital will become scarce. Russia will not fully compensate these losses with increased economic engagement with China, with particular deficiencies likely in high-tech areas for Russia. Import substitution is also unlikely to allow Russia to innovate its way out of economic isolation or escape the resource curse. As Kremlin-connected elites further dominate the impoverished economy, crony state capitalism and kleptocracy will rise. The global repercussions of Russia’s war will include commodity shocks and the attendant supply chain disruptions and inflationary …

Xbox In Japan? Understanding The Distinctions Of The Japanese Video Game Market To Increase Microsoft's Competitive Advantage, Sekani Adebimpe

Senior Theses

Microsoft, Nintendo, and Sony remain the biggest players in the video game console space. While all three companies have achieved worldwide success, Microsoft’s performance with the Xbox brand in Japan is an outlier for its historically poor sales numbers dating back to its 2001 debut. The purpose of this thesis is to unearth the various cultural distinctions inherent to the Japanese gaming industry that Microsoft must consider to gain a stronger foothold in the country, as well as diagnose the biggest issues facing Xbox with Japanese consumers. To accomplish this, several cultural frameworks were used to assess the differences between …

Effects Of Firm Environmental And Sustainability Performance On Nonprofessional Investors’ Judgments: A Comparison Between The United States And Germany, Jackson M. Nietert

Senior Theses

Several studies find that environmental reporting is significant to investors’ decision-making. Here, the effect of German and US-American cultures on nonprofessional investors’ judgments when given positive or negative environmental reports is examined. Two experiments were conducted, one with US students recruited locally and German participants recruited online and the other with all participants recruited online to ensure more similar samples. In both experiments, in line with previous research, environmental reporting has a significant impact on nonprofessional investors’ decision-making process. In addition, the first experiment shows that German nonprofessional investors are more likely to penalize firms for poor environmental ratings however …

Esg Investing: From Fad To Force, Erin Cullen

Senior Theses

ESG Investing is the application of environmental, social, and governance factors to identify material investment risks and growth opportunities. Though traditionally viewed as non-financial factors, this paper asserts that ESG factors are indeed financially material. This work first surveys the current state of ESG Investing, its shortcomings, and its success despite these inherent issues. Section II adds a new perspective to ESG research by examining the applications of ESG scores in portfolio management. The study conducts t-tests to answer whether the typical holdings of an ESG mutual fund are more sustainable than those of traditional funds. The paper then focuses …

The New Frontier Or A Billionaire’S Joy Ride? Artificial Intelligence Driven Analysis Of Twitter Conversations Of The Spacex Company, Meghan Whittle, Miranda Butler

Senior Theses

In recent years, space travel has become less of a vision for select individuals in the field of research and is now on the cusp of becoming an experience available to paying customers. The purpose of this study is to determine Twitter users’ perceptions of SpaceX during the COVID-19 pandemic period from March 2020 to December 2021. We identified Twitter sentiment and emotions regarding such a new and abstract notion of a service that could be more widely available in the future. To achieve these goals, we collected tweets related to SpaceX using Brandwatch – a tool allowing the search …

From An Ambivert's Perspective: The Relationships Between Personality Types, Attachment Styles, And Behavioral Tendencies Of Introverts And Extroverts, Andrew Chang

Senior Theses

Over the years, there has been continuous discussion around the idea that extroverts dominate the business workplace over introverts and vice versa. However, depending on the work setting and skillsets needed, it is imperative to realize how certain business practices, personality styles, and relationship approaches are different in every scenario. For this research thesis, the goal was to compare the personality and attachment styles of students who study in two different cultural environments, seeing if there were any apparent relationships between the two variables and student behavioral tendencies. Previous studies have shown that personality, behaviors, and attachment levels can predict …

The Impact Of Social Media Marketing On The Broadway Industry: A Study Of Hamilton: An American Musical, Jordan Pontelandolfo

Senior Theses

In recent years, social media has become an increasingly important part of the marketing strategies for many Broadway productions. Yet, many Broadway marketing teams do not take complete advantage of their social media channels, instead relying on traditional marketing methods to attract audiences. Hamilton: An American Musical is a recent Broadway production that has used an innovative social media marketing strategy to attract diverse audiences and create a dedicated fanbase. By analyzing the strategy across Hamilton’s Instagram, Facebook, Twitter, YouTube, and TikTok, I determine what made its social media so successful and how other Broadway shows can learn from …

The Impact Of Transfer Spending In Expediting Improvement Of On-Field Performance Of English Premier League Clubs, Brendan Merten

Senior Theses

This thesis analyzes transfer spending and performance data from English Premier League football clubs participating in the 1992-2021 seasons of the English Premier League using regression analysis and Granger causality analysis. The analysis attempts to extend existing research that indicates a significant causal relationship between transfer spending and performance. I then speak to the sustainability of transfer spending necessary to improve performance over a specified length of time. Further discussion considers implications of Financial Fair Play regulations and explores relevant case studies of Blackburn Rovers, Manchester City, Chelsea, Leicester City, and Newcastle United.

The Legal And Social Challenges Involved In The Expansion Of Multinational Operations: A Case Study Of Exxonmobil Indonesia, Shashaank Rajaraman

Senior Theses

Within this paper, I will analyze the legal and social relations between multinational corporations and their host countries. This analysis will be conducted through viewing the circumstances surrounding Doe v. ExxonMobil within the District of Columbia Circuit Court, in which ExxonMobil has engaged in litigation regarding their human rights record within the country of Indonesia. Through secondary research conducted both within business and legal journals, information about the practices of ExxonMobil can be examined and utilized to make general conclusions upon the corporate diplomacy practiced by multinational corporations.

Nation Branding: The Case For Marketing Strategy In International Relations, Brooke Boan

Senior Theses

This thesis seeks to address the concept of nation branding and how states can use marketing strategies for international relations gains. Using a literature review of relevant concepts and trends in international relations, including soft power, public diplomacy, and cultural diffusion, the connection between marketing strategies and foreign policy trends become clear. An analysis of nation branding, its origins, applications, and challenges, provides insight into an up-and-coming area of international relations. Specific country case studies were chosen to examine the real-world results of nation branding including the shortcomings and future opportunities. The case of Japan shows how a country can …

Yield Generation Using Decentralized Financial (Defi) Applications, Nathan Walton

Senior Theses

Decentralized financial (DeFi) applications are a new generation of financial service applications, composed of coded smart contracts, and deployed on a blockchain network. These applications offer several methods of generating yield on deposited funds, much like a traditional bank. In this paper I provide a definition of several key terms and a breakdown of the primary mechanisms through which yield is generated. Additionally, I examine three of the main types of DeFi applications, the services they provide, and how they execute these services. I then provide an overview of four strategies involving cash and leverage and estimate the potential benefits …

The Impact Of Cultural Perceptions Of Well-Being And Resulting Sustainable Local Development Initiatives, Atifah Jatoi

Senior Theses

Views on and approaches to sustainable economic development can differ vastly depending on country and location. Historically, in the United States, sustainable development is primarily based on the four pillars of sustainability: social, human, environmental, and economic. On the other hand, in communities in relatively collectivist societies, sustainable development policies and organizations are influenced by collective interest, cooperation, and the well-being of the community. Local development initiatives centered around promoting the well-being of the community are a way to have a more equitable approach to sustainable development and are necessary to address ecological, economic, and social challenges. I will discuss …

Out Of Office: Examining How Remote Auditing Can Affect Audit Quality, Kristen Thompson

Theses and Dissertations

Psychological factors bring rise to the potential for differences in audit quality between in- person and remote work. With remote auditing on the rise, I investigate whether an increase in distance between an auditor and their supervisor can increase auditors’ divergent thinking and, in high time pressure, lead to a greater likelihood for auditors to exhibit reduced audit quality (RAQ) behavior. Consistent with prior literature, I find auditors facing high (vs. low) time pressure are more likely to engage in RAQ behavior, consistent with their motivation to speed up testing. More importantly, I find auditors working remotely are more likely …

Essays On Delegation Under Migrating Technologies: The Case Of Mobile Network Value Chain, Fan Zou

Theses and Dissertations

The fast expansion of the mobile services market has propelled the growth of MVNOs to reach an expected 7.4% of the global market and, even higher, 8.1% of the North American market by 2022 (Research&Markets 2017), which reaches a total size of 90 billion US dollars. The growth of MVNOs, meanwhile, has complicated implications for MNO market performance because of the fast industry clockspeed, under which new mobile network technologies inevitably overlap with existing technologies (Tilson and Lyytinen 2006). Adding MVNOs to the value chain allows MNOs to develop proper growth strategies by exploring new technologies balanced against exploiting existing …

Building A Future Microfinance Community In Kenya, Jack Spiehs

Senior Theses

The lack of access to financial tools has been a significant problem in many areas around the world for a long time. It prevents certain groups of people from being able to progress financially and improve their economic standing. This issue stems from an overall lack of resources and infrastructure in the area. Without the acquisition of new funds, there is no path to poverty alleviation in underdeveloped areas. Currently, the global response has been to try to provide these resources through various methods, including microfinance activities.

Microfinance institutions have been operating in Kenya for decades. They provide a variety …

Monopolies, Monopsonies, And Everything In-Between: The Gradual Unwinding Of Nearly A Century Of Antitrust Activity, Chase Faulkner

Senior Theses

Changes in the interpretation of antitrust law since the Reagan administration have created a simultaneous increase in mergers/acquisitions and a decrease in antitrust action. This trend started with Ronald Reagan in an effort to bolster a stagnant United States economy, yet in spite of the revolution the global economy has undergone in the last few decades, this trend is still perpetuated today. While this has helped the United States economy abroad, it has come at a cost domestically. A number of industries have become dominated by a single firm (or a group) through a variety of anticompetitive practices, and their …

Mobile Sports Gambling In South Carolina, Drew Pechulonis

Senior Theses

After the U.S. Supreme Court deemed the Professional and Amateur Sports Protection Act (PASPA), sports betting has expanded across the country at a rapid pace. As the sports gambling industry continues to grow, states that have not passed legislation are left wondering whether legalization would benefit their constituents.

The purpose of this study is to determine the feasibility and consequences of legalizing mobile sports gambling in the state of South Carolina. This study can inform state leaders on how to implement mobile sports gambling in the state as well as the positive and negative repercussions that would follow legislation. As …

Essays On Multichannel Retailing, Arkapravo Sarkar

Theses and Dissertations

Many upscale retailers operate discounted versions of their premium stores to engage with value-conscious customers, often as a separate channel. In the first essay, we empirically examine the effects of a high-end department store retailer’s opening of discounted store on customer shopping behavior. Leveraging a unique customer-level transaction dataset that spans pre- and post-opening of multiple discounted stores across the United States by the focal retailer, this essay seeks to disentangle the effects of discounted store opening (DSO) on the incumbent channels, namely the upscale regular physical stores and the online stores and to document the possible mechanisms that …