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Articles 1 - 13 of 13
Full-Text Articles in Business
Australian Real Estate Stock Reactions To Firb Regulation Changes, Henry Wei
Australian Real Estate Stock Reactions To Firb Regulation Changes, Henry Wei
CMC Senior Theses
This study analyzes the share price reactions to real estate development and building/construction materials corporations in relation to FIRB rule changes. It appears companies as a whole were indifferent to the rule changes; however individual securities returns were wildly different. These findings suggest that the FIRB rule changes had a mixed effect on different corporations possibly based on their exposure to the Australian real estate market.
Is Silence The Answer?, Gator Adams
Is Silence The Answer?, Gator Adams
CMC Senior Theses
This study examines the relationship between company management guidance, and ex-ante crash risk over the duration of 2008(Jan 2006-Dec 2009) financial crisis using the implied volatility skew, which is based upon ex-ante volatility implied by the pricing model developed by Black-Scholes (1973). The study finds that over the duration of this crisis period, management guidance decreases with a rise in ex-ante crash risk. Further, the study provides evidence on the relationship of management guidance and earnings volatility, and how that is affected by a firm's industry product concentration based on the Herfindahl-Hirschman Index (HHI) score.
Stock Returns And Industrial Production: A Sectoral Analysis, Griffin Lazarus
Stock Returns And Industrial Production: A Sectoral Analysis, Griffin Lazarus
CMC Senior Theses
This paper analyzes the relationship between stock returns and future industrial production growth rates from 1926-1940. It replicates the work of Fama (1990) and Schwert (1990) with the intent to see if the relationship continues to hold using sector data. Furthermore, this paper focuses on the 1926-1940 sample period to explore how the relationship is affected by the stock market crash of 1929. It is expected that the relation will be weak for the industry sectors experiencing strong growth prior to the crash. The results indicate that the relationship between stock returns and future industrial production growth rates persists on …
Management In Major League Baseball: How General Managers Succeed And Fail Using Statistics To Build Winning Franchises, Sam Baughman
Management In Major League Baseball: How General Managers Succeed And Fail Using Statistics To Build Winning Franchises, Sam Baughman
CMC Senior Theses
Baseball fans discuss and remember the heroics of Major League Baseball players and managers. However, team executives operate away from the crowds, in the front office to draft, trade for, and sign talented players and managers to construct successful teams. The intent of this thesis is to first rank and analyze these general managers and presidents of baseball operations through finance and baseball statistics. Then, I will examine team statistics to determine what statistics correlate to winning. Two of the general managers, Theo Epstein and Dan O’Dowd, will then be examined more thoroughly to determine how their decisions impacted their …
Should I Stay Or Should I Go? How Land Use Regulation Impacts Housing Choice, Parker Mallchok
Should I Stay Or Should I Go? How Land Use Regulation Impacts Housing Choice, Parker Mallchok
CMC Senior Theses
Ideally, land use policies correct for negative externalities. However, the barriers they impose on individuals and communities have serious implications. Existing studies on this topic focus on singular, specific areas because land regulation is determined at the local level and varies extensively across the nation. Furthermore, current housing literature focuses on the “norm” of single family housing. This ignores the changing attitudes toward different types of dwellings. My study examines local regulatory environments across the nation by using Gyourko et al. 2008’s Wharton Residential Land Use Regulation Index, which develops a comparative scale for the otherwise impossibly varied regulatory environments. …
A Sectoral Analysis Of The 1929 Stock Market Crash, Paul Edward Reynolds Iii
A Sectoral Analysis Of The 1929 Stock Market Crash, Paul Edward Reynolds Iii
CMC Senior Theses
The stock market crash of 1929 stands today as the largest decline in market value in the history of the United States. Consequently, the event destroyed the wealth of thousands of American families and institutions. On October 28th and 29th, the United States stock market fell 11.3 percent and 12.4 percent respectively, marking the beginning of a down market that lasted over three years, the time period known today as the Great Depression. This paper empirically analyzes the effects felt by each individual industry sector in the crash of 1929, identifying gross and abnormal returns over three major days in …
Short-Termism And Corporate Myopia: The Values Assigned By The Market To Short-Term And Long-Term Firms, Justin Alexander
Short-Termism And Corporate Myopia: The Values Assigned By The Market To Short-Term And Long-Term Firms, Justin Alexander
CMC Senior Theses
Short-termism and myopia on the part of corporate managers, analysts, and investors have created a business environment driven by the excessive focus on short-term results and the need to meet earnings targets at the expense of long-term value creation. These are accompanied by numerous consequences, including the potential for short-term-oriented firms, particularly in the U.S., to lag behind global long-term-oriented firms, as well as the potential for short-term mindsets in the corporate world to catalyze financial crises. In this paper, I demonstrate that the market generally assigns higher values to long-term firms rather than short-term ones. This is evidenced by …
The Corporate Exploitation Of Fundamental Rights: A Nation Of Arbitration, Melanie A. Carlson
The Corporate Exploitation Of Fundamental Rights: A Nation Of Arbitration, Melanie A. Carlson
CMC Senior Theses
This thesis is an in-depth discussion and analysis of the alternative dispute resolution process of arbitration in the United States. It begins by providing a basic explanatory overview of arbitration clauses and the arbitration process. It then goes on to highlight the various benefits over traditional court litigation that arbitration has to offer. From there, the paper presents a detailed discussion of the many shortcomings of the arbitration process. It identifies the overall lack of procedural fairness that exists in arbitration today due to the fact that arbitration currently tends to favor businesses over consumers and workers during dispute settlements. …
The Gender Gap In Immigrant Entrepreneurship: The Role Of Culture And Home Country Self-Employment, Amy Ingram
The Gender Gap In Immigrant Entrepreneurship: The Role Of Culture And Home Country Self-Employment, Amy Ingram
CMC Senior Theses
This paper investigates the effect of culture and home country self-employment rates on immigrant self-employment in the United States, post-migration. This study analyzes the effects for both men and women, focusing on the gender gap in self-employment. The empirical results show that home country effects have a small impact on self-employment, but most of this relationship is unexplained. Because the explanatory power of home country effects is so low, it is unlikely that culture significantly influences self-employment. I find that, contrary to my hypotheses, women from countries with high female self-employment rates are likely to see a larger decrease in …
Revenue Incentives And Referee Propensity To Make Foul Calls In The Nba Finals, Daniel Fallon-Cyr
Revenue Incentives And Referee Propensity To Make Foul Calls In The Nba Finals, Daniel Fallon-Cyr
CMC Senior Theses
In this study I examine foul calls by NBA referees alongside the difference in aggressiveness of twelve NBA basketball teams as they compete for the Championship Title. I aim to identify referee biases that increase the likelihood of the NBA Finals ending in a later game due to league revenue incentives. My data consists of 91 individual NBA Finals games played between the 2001 and 2016 NBA Finals. After controlling for changes in play as well as the difference in aggressiveness, I find that NBA referee’s foul calls are more dependent on a call on the opposing team in situations …
The Risk-Return Characteristics And Diversification Benefits Of Fine Wine Investment, Tania Salomon
The Risk-Return Characteristics And Diversification Benefits Of Fine Wine Investment, Tania Salomon
CMC Senior Theses
This thesis evaluates the risk-return characteristics and diversification benefits of fine wine investment. It compares the historical performance of wine to that of equity, fixed income, real estate, and commodities. I calculate the correlation, volatility, and expected returns of these assets to examine whether adding wine to a portfolio increases its risk-adjusted return. I do this through the Markowitz portfolio optimization technique. The findings suggest that wine has a low correlation with traditional assets, providing diversification benefits. My results also show that adding wine to a portfolio increases its risk-adjusted return only when there is an allocation constraint of 0 …
The Fear Factor: Determinants Of Entrepreneurial Fear Of Failure, Pema Donyo
The Fear Factor: Determinants Of Entrepreneurial Fear Of Failure, Pema Donyo
CMC Senior Theses
This thesis aims to investigate determinants of fear of failure in entrepreneurial activity that could inhibit starting a business. The study uses cross-sectional, pooled OLS, and panel regressions. The dependent variable is fear of failure regarding entrepreneurship, measured with the Global Entrepreneurship Monitor (GEM) survey question of whether fear of failure would prevent the responder from starting a firm. The unit of analysis is at country level. I categorize determinants into demographic, property rights, and procedural variables. A population of higher working age ratio (measured as the population aged 15-64 divided by the population aged 65 and over) correlates with …
Height, Weight, And Durability In Major League Baseball, Joshua Yeager
Height, Weight, And Durability In Major League Baseball, Joshua Yeager
CMC Senior Theses
Using data from the 2000-2016 Major League Baseball seasons, this paper looks at the determinants of durability amongst baseball athletes, durability is measured in games played for batters and innings pitched for pitchers, with a particular focus on height and weight. This paper finds evidence that lighter, shorter batters play significantly more games than taller, heavier batters. Additionally, amongst pitchers, there is only circumstantial evidence that height and weight are important determining factors of player durability. Finally, I find that starting pitchers increase the likelihood of becoming injured in the regular season by 10.3% and 21.8% if their hits per …