Business Commons^™

Outperforming The S&P 500 Using Top-Down Asset Allocation, Benjamin Lanier

Finance Undergraduate Honors Theses

This paper investigates whether portfolio managers can outperform the S&P 500 index using top-down asset allocation, using historical returns, standard deviations, and correlations of different asset classes. Efficient diversification between asset classes reduces the idiosyncratic risk by selecting assets from a wide variety of different classes of assets in different parts of the world. The goal is to create an optimization model that makes it possible for a portfolio manager to generate higher expected returns, while taking risk equal to that of the S&P 500, or incur lower risk while generating the same expected return of the S&P 500.

Student Perception On Female Discrimination In Accounting, Qiuting Zheng

Accounting Undergraduate Honors Theses

Approximately 72,648,000 women participate in the labor force compared to 31,543,000 women in 1970 (U.S. Department of Labor). In the 1950s, women were only 30% of the workforce (Toossi, 2002). In 1970, 1990, and 2010, the percentage of working women increased to 40%, 45%, and 47% respectively (Humphrey, 2013). However, students have wrong perceptions about discrimination against women, and, since perceptions and facts are not the same thing, their perceptions might make them misunderstand the accounting profession. This study confirmed that there are misperceptions. To gauge students’ perceptions, I conducted a survey named “Gender Diversity in Accounting” at the Walton …

How Does Music Consumption Impact The Music Industry And Benefit Artists?, Benjamin Fly

Accounting Undergraduate Honors Theses

With the introduction of digital music in the 1990s, it internet-based music consumption has become significantly simpler and increasingly more popular as more and more consumers are streaming, sharing, and discovering new music all across the globe. With this new development of digital music, the dynamics of the music industry have been affected dramatically both in terms of record sales and the way music listeners are consuming music. Unfortunately, with the rise of music in its digital format came the rise of illegal file sharing sites, causing many to believe that the music industry was headed for its impending destruction. …

The Taper Tantrum Of 2013: Momentum-Driven Or A Return To Fundamentals?, Colette L. Terhune

Finance Undergraduate Honors Theses

This study explores the driving force behind the Taper Tantrum of 2013. Following the Fed’s announcements of potential QE tapering, investors poured of the bond market, causing yields to rise sharply. This analysis seeks to determine whether this was a momentum-driven reaction or a return to fundamental values. Throughout this paper, fundamental determinants of bond prices and investor returns are combined with trading volume and bid-ask spread data to determine the motivating market force. The findings suggest that the Taper Tantrum was a return to fundamental bond prices following an asset bubble burst, likely due to momentum trading.

The Fall Of Petrobras And Its Impact On The Brazilian Economy, Nicolas Lema Severich

Finance Undergraduate Honors Theses

This paper investigates the full scope of the poor decisions made by the Brazilian oil giant, Petroleo Brasileiro. This paper is focused on the midst of a corruption scandal that ended the hopes and dreams of an entire nation. Fundamental analysis as well as technical analysis are used to determine the intrinsic value of Petrobras. Petroleo Brasileiro is analyzed as an oil company, as a mother company for the Brazilian economy and as the disruptor of a recession that will be remembered historically.

The Overlap Of Cross Sectional And Time Series Momentum Strategies, Samuel Adams

Finance Undergraduate Honors Theses

This paper contributes to existing literature by providing an analysis of combined time series momentum and cross sectional momentum strategies in the Dow Jones Industrial Average from February, 1991 to December, 2015. Combined momentum strategies are shown to not outperform cross sectional momentum strategies, and all momentum strategies tested are shown to under perform the market index. The twelve month historical return serves as the foundation from which the momentum strategies are formulated. Holding periods discussed in this paper include portfolio’s offset by one month from the historical return calculations . Momentum results during the time period analyzed are driven …

Developing A Logistics Risk Assessment Tool, Daniel C. Fritsche

Industrial Engineering Undergraduate Honors Theses

Economies around the world have thrived in the wake of the development and keen understanding of effective supply chain management practices. As a result, organizations have become more dependent on other organizations to move their products and services to completion due to complex sourcing and shipping arrangements that have precipitated from the formation of sophisticated supply chains. A supply chain is in general a flow of products or services. When this flow is disrupted or halted, disastrous consequences can ensue. In the worst cases, such as with a disaster relief organization like the American Red Cross, disruptions in supply chains …

The Financial Stability Of Nonprofit Organizations, Heather M. Blalack

Finance Undergraduate Honors Theses

Abstract

This thesis evaluates the financial stability of nonprofit organizations and their ability to effectively facilitate the accounting functions of a business. Specifically, it focuses on the companies’ ability to maintain steady cash flow and fulfill all financial obligations while also achieving commitments stated in the company’s mission statement and core values. In addition, this analysis concentrates on the immense lack of knowledge and experience pertaining to financial management within many nonprofits as well as the scarcity of related trainings. As most administrators of nonprofits lack the proper training or background pertaining to financial oversight, there is often an imbalance …

Campus Concierge: A Business Plan To "Do College Better", Hannah G. Birch

Finance Undergraduate Honors Theses

Campus Concierge Inc. is a start-up company located in Fayetteville, Arkansas that provides academic support services to college students. Since 2013, the company has seen successful operations and is ready to expand. In this thesis, background research was performed to amend the business plan in order to better reflect the business model and highlight opportunities for growth. These opportunities include developing the brand image, increasing current operations, and extending branches to other locations. The purpose of this thesis is to evaluate expansion options as well as funding opportunities that are feasible for the company and to deliver a tangible product …

Strategic Asset Allocation For Fixed Income And Fixed Income-Like Securities In Anticipation Of A Bear Market, Ngoc B. Phan

Finance Undergraduate Honors Theses

In a market contraction, it is often beneficial to actively manage fixed income and fixed income-like portfolio via strategic asset allocation. Many fixed income securities tend to outperform equities during market contractions owing to their fixed payment streams, lower volatility, and higher position in capital structure. This study seeks to estimate a set of optimal asset allocation portfolios in anticipation of recessions empirically using historic inflation-adjusted data. I apply mean-variance optimization to find optimal portfolio mix, discuss investors of different risk levels and discuss performance of portfolios in growth, recession and long-term periods.

The Millennial Investor: Mutual Funds Versus Exchange Traded Funds, Terrell Mclendon

Finance Undergraduate Honors Theses

This research paper seeks to understand the Millennial investor. The distinct purpose of this research is to determine if Millennials in the U.S., specifically those ages 25 to 35, prefer investing in exchange traded funds to mutual funds. Additionally, this research seeks to discern if these Millennials prefer investing online to working with a personal financial advisor. Secondary research was utilized extensively to compile a review of existing literature on the topics of the Millennial generation, mutual funds, exchange traded funds, personal financial brokers, and online investing sites. Primary research was completed through a questionnaire survey to gather new data …

Are Music Streaming Services Healthy For The Recorded Music Industry?, Elizabeth W. Pittman

Economics Undergraduate Honors Theses

To listen to music just a few hundred years ago would require hundreds of miles of travel, tons of wood and metal and ivory and copper strings, construction of a stage and audience platforms, human capital to perform the music of course, and lots of money. All of these variables would combine to produce an auditory experience of approximately 45 minutes total. Today, a single musician can produce the sound of dozens with just a laptop, and it can be consumed relatively cheaply with the click of a button. Digital services such as iTunes or Spotify give listeners access to …

Path To Higher Education, Rebecca L. Francis

Accounting Undergraduate Honors Theses

This study focuses on the career aspirations of middle and high school students living in an impoverished area of Cape Town, South Africa. It was discovered that students in this area tended to have high expectations of themselves pertaining to success after graduating high school, as well as their classmates. They believed they would be accepted into prestigious universities and achieve their career goals, despite being unaware of several key pieces of information, such as how to apply to university and how to get financial aid. The ultimate conclusion of the study was that these students required more extensive career …

Effect Of Automated Advising Platforms On The Financial Advising Market, Benjamin Faubion

Accounting Undergraduate Honors Theses

This thesis outlines the cost to investor differences between a traditional financial advisor and the growing group of highly competitive automated Robo-Advisors.

Do Investors Value The Required Stress Tests Of Financial Holding Companies?, Brendan A. Colligan

Finance Undergraduate Honors Theses

This paper explores the value of disclosing stress test results to investors and market participants within the US financial system. Recently the Federal Reserve (“Fed”) expanded its required internal stress testing program, often referred to as the Dodd-Frank Act Stress Test (“DFAST”), to include bank holding companies (“BHCs”) with more than $10 billion in total assets. These BHCs were required to publicly disclose their results for the first time in June of 2015. Large BHCs are subject to another level of stress testing implemented by the Comprehensive Capital Analysis Review (“CCAR”). Large BHCs are defined as having more than $50 …

The Impact Of Uber Technologies On The New York City Transportation Industry, Jonathan K. Alley

Finance Undergraduate Honors Theses

Uber Technologies (Uber) is a mobile ride request company founded in 2009 by Travis Kalanick and Garrett Camp. Initially named “UberCab”, the company began offering black car services in San Francisco via an iPhone app. Beginning in May 2011, Uber expanded to a new city each month, moving into New York City, Chicago, and Washington D.C that year. The company also expanded internationally in December 2011, moving into Paris. After only its first six months of operation, Uber had already gained nearly 6,000 users and done close to 20,000 rides. The company expanded to its first international city, Paris, in …

Financial Performance In Upstream, Downstream, And Integrated Oil Companies In Response To Oil Price Volatility, Jonathan P. Garcia

Finance Undergraduate Honors Theses

This paper investigates the relation between crude oil price volatility and stock returns among oil companies using a three-part methodology, by using the West Texas Intermediate (WTI) as oil price benchmark. I asses the various indicators that set signals for oil price volatility and the interpretation of each (PMI, S&P500, DJIA, and World Crude Oil Output). This research also focuses on the relation between different types of companies in the oil industry (integrated, upstream, and downstream) and how each type of company will be assessed in a particular way to predict abnormal returns, based on market data and statistical analyses …

Correlation Between Shareholder Concentration And Firm Performance With Regard To Midcap Companies, Wynn Lemmons

Finance Undergraduate Honors Theses

The research herein explores the correlation between performance and shareholder concentration. This paper compares the performance of a group of companies with a single shareholder stake of over 10% from the universe of the S&P 400 Midcap Index to the performance of the index itself over a period of eight years (January 1, 2009 to January 1, 2016). When run as a simulated portfolio, the group selected generated a slight amount of positive alpha, but the results were ultimately statistically insignificant.

Modeling Supply Chain Resiliency, Jeff A. Hazel

Industrial Engineering Undergraduate Honors Theses

Engineered Resilient Systems (ERS) is a Department of Defense (DoD) program focusing on the effective and efficient design and development of complex engineered systems throughout their life cycle. There is a growing literature with qualitative definitions of resilience and quantitative models for systems with one performance measure. This paper uses a quantitative resilience framework (the Framework for ERS) that includes system design options, reliability, threats, vulnerabilities, responses, and consequences assessed in multiple system performance measures. The framework assists in establishing a model for any system to evaluate resiliency. This paper applies this framework using Multiple Objective Decision Analysis (MODA) to …

Getting Hooked On Gnarly Rods, Cody A. Nelson

Marketing Undergraduate Honors Theses

At Gnarly Rods, our objective is to supply builders and fishermen alike with the quality gear, components, and service necessary to catch everything life has to offer. From providing rod building parts, to repairs, to fully customized fishing rods, we are the destination for all things in custom fishing. Conceptualized in 2015, Gnarly Rods will be based out of Springdale, AR, and started by Robert and Cody Nelson, a father and son pair as passionate for fishing as they are family and the influence the outdoors can have in life. As of now, we will be the only two employees …

An Exploration Of Omnichannel Marketing Through Fifa 16, Virginia N. Roman

Marketing Undergraduate Honors Theses

According to Forbes, Omnichannel marketing is a marketing strategy that engages consumers over multiple channels, a strategy reflecting the change in how consumers are willing to engage with companies. EA Sports is a branch of Electronic Arts, an entertainment software company that in the fiscal year of 2015 had a GAAP net revenue of $4.5 billion. EA Sports produces sports related video games including the Madden NFL, Rory McIlroy PGA Tour, and FIFA. Omnichannel marketing is the next frontier and the video game industry is on the rise. At the crossroads of these two is FIFA 16, this year’s installment …

Evaluating The Perception Of Luxury Brands In Today's Marketplace And The Impact Of The Digital Age On These Brands, Mary M. Turner

Marketing Undergraduate Honors Theses

“In spite of the global recession, luxury seems to be everywhere. Luxury is a term that is routinely used in our everyday life: a promise of decadence and a dream of an exclusive lifestyle, a key component of marketing management and a tagline in commercials and advertising campaigns…However, what does luxury really mean? The only consensus on the meaning of luxury is that there is little consensus” (Hennigs et al. 3). For an industry that once presented itself as so exclusive and definitive, it is hard to believe there is such uncertainty in defining this market. Much of this ambiguity …

Entertainment In The 21st Century: Is An Independent Networked Multimedia Production And Promotion Firm A Viable Business Option In The Modern Entertainment Industry?, Alex Mcgowen

Marketing Undergraduate Honors Theses

“Artists are being stifled by the ‘major label’ stance that exclusively demands what’s ours is ours and can only be handled by us. It should be more about creative freedom” (Monstercat Manifesto). Over the past fifteen years, we have witnessed how the internet has changed how entertainment is distributed and consumed. This has led to a change in behavior from major entertainment production firms, and has given way to the surge of independent labels and production houses. Now, entertainers can lead successful careers by reaching their audience through digital platforms, successfully decreasing production and distribution costs. Consumers can find an …

The Microfinance Industry In Bolivia, Jorge J. Eguino

Economics Undergraduate Honors Theses

In the international context, and particularly in Bolivia, microfinance and microcredit have been the subject of innumerable analyses. The arguments rely on the attributions of these two ways of intervention in financial services, as well as their impact with respect to poverty, their input, and their incidence on economic growth. Bolivia has contributed to the debate in these fields due to its experience with the microfinance system and its relevance to the country’s economy.

The purpose of this project is to describe the process of development and consolidation of the microfinance system in Bolivia. From a description to an analysis …

Understanding How The Southeastern Conference Football Teams Use Twitter Through A Content Analysis, Kristin Elise Pearson

Graduate Theses and Dissertations

The influence of Social media on intercollegiate athletic departments has been prominent in the past few years. With tight budgets, the departments are forced to find different means of marketing and promoting their brand – through embracing Social media platforms. Research on Social media and intercollegiate athletics is limited; therefore, it is necessary to research how the departments are utilizing Social media. With the agenda setting theory as a foundation, this study explores how the 14 SEC football teams are utilizing Twitter. A total of 3,176 tweets were collected from two constructed weeks. Overall, the findings show that the information …

More Ethical – Thai Or American Business Behavior?: Ethical Business Practices And Differences Between Cultures, Michelle Carlson

Marketing Undergraduate Honors Theses

The study and comparison of cross cultural business ethics was conducted specifically in the countries of Thailand and the United States. To study these two countries’ business ethics, a survey was conducted in each country, analyzed, and compared to one another. The research was conducted on a Micro Empirical scale. This approach by definition “hypothesizes the existence of general norms or values and then gathers and analyzes data with a view of determining the extent to which these norms or values prevail in the group surveyed” (Koehn & Leung, 2004). Thailand and the United States are hypothesized in this study …

Understanding Employees’ Reactions To Sexual Harassment Training: Interactional Disruptions, Identity Threats, And Negative Training Outcomes, Shannon L. Rawski

Graduate Theses and Dissertations

Sexual harassment training is a common organizational activity. Yet, we do not have very much knowledge about why sexual harassment training is effective or ineffective. There is evidence that employees often react negatively toward sexual harassment training, and these negative reactions may help explain inconsistent findings regarding whether sexual harassment training improves employees’ knowledge, attitudes, and transfer of training to the job context. This dissertation draws from Social interactionism and identity theory to suggest that employees may experience threats to their valued identities at the announcement of sexual harassment training and during the administration of sexual harassment training. Interactional characteristics, …

Seeking Peace Of Mind: A Case Study Combining Ethics And Accounting, Lauren Ghahremani

Accounting Undergraduate Honors Theses

The purpose of this research has been to create original work in the form of a case study that educators and accounting students can benefit from during daily exercises in accounting ethics courses.

Men Who Coach Women, Shannel Blackshear

Graduate Theses and Dissertations

Although Title IX helped to shape athletics in educational settings, the legislation also transformed the world of coaching. Due to the growing demand for competitive female athletics at the collegiate level, the need for qualified individuals to coach women’s sports continues to grow. As colleges and universities continue to create women’s athletic opportunities, coaching collegiate female teams has become equally competitive to coaching male athletes in terms of pay, benefits, compensation packages, and national attention (Welch & Sigelman, 2007). Despite the fact that 57% (Pilon, 2015), of female collegiate athletic teams are coached by male coaches, there is a gap …

Contents, Discovery Editors

Discovery, The Student Journal of Dale Bumpers College of Agricultural, Food and Life Sciences

No abstract provided.