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Full-Text Articles in Business

An Econometric Evaluation Of Localism And Other Potential Success Factors In California’S Craft Brewing Industry, Connor Sinclair Jan 2020

An Econometric Evaluation Of Localism And Other Potential Success Factors In California’S Craft Brewing Industry, Connor Sinclair

CMC Senior Theses

As growth of the American craft brewing industry slows and smaller firms account for a greater proportion of expansion, I test whether traits that are indicative of smaller firms have an effect on brewery success. I hypothesize that firms which utilize localist strategies such as geographical branding, use of local ingredients, charitable giving, and/or sustainable practices are more successful than others and therefore produced more barrels of beer in 2017. To test my hypothesis, I estimate ordinary least squares regressions with robust standard errors using data collected from the Brewers Association and the websites of 362 California craft breweries. I …


A Little Birdy Told Me: Analysis Of The Impact Of Public Tweet Sentiment On Stock Prices, Alexander Novitsky Jan 2020

A Little Birdy Told Me: Analysis Of The Impact Of Public Tweet Sentiment On Stock Prices, Alexander Novitsky

CMC Senior Theses

The combination of the advent of the internet in 1983 with the Securities and Exchange Commission’s ruling allowing firms the use of social media for public disclosures merged to create a wealth of user data that traders could quickly capitalize on to improve their own predictive stock return models. This thesis analyzes some of the impact that this new data may have on stock return models by comparing a model that uses the Index Price and Yesterday’s Stock Return to one that includes those two factors as well as average tweet Polarity and Subjectivity. This analysis is done with ten …


Corporate Social Responsibility And Corporate Financial Performance: An Examination Into Fortune 500 And Djsi Firms Within Consumer-Facing Industries, Samantha Lee Jan 2020

Corporate Social Responsibility And Corporate Financial Performance: An Examination Into Fortune 500 And Djsi Firms Within Consumer-Facing Industries, Samantha Lee

CMC Senior Theses

This paper examines the relationship between a firm’s Corporate Social Responsibility (CSR) and its Corporate Financial Performance (CFP) in nine consumer-facing industries classified by the Fortune 500. Unlike prior research on the matter, the firms investigated in this study consist only of firms on both the Fortune 500 for the year 2018 and the Dow Jones Sustainability Index (DJSI) between the years 2005-2018 in order to define a clear measurement of CSR. In order to gauge investor and market sentiment, CFP is measured primarily by the firm’s stock performance in comparison to the S&P 500 as a basis. The results …


A Choice Model For Correspondent Banking Relationships, Tanisha Sheth Jan 2020

A Choice Model For Correspondent Banking Relationships, Tanisha Sheth

CMC Senior Theses

Employing a granular hand-collected dataset, this paper studies the formation of local financial networks as a consequence of one of the largest bank failures during the Great Depression. The collapse of the National Bank of Kentucky caused ripples throughout the interbank network as 233 banks were faced with the decision to form new connections to reallocate reserves. Tracing over 1600 institutional linkages between 1929 and 1934, I evaluate the decision-making process of commercial banks under a nested logit framework. I find that peer effects and other regional metrics, contrary to national connectivity measures, act as principal determinants in network formation. …


An Empirical Analysis Of Company Culture: Using Glassdoor Data To Measure The Impact Of Culture And Employee Satisfaction On Performance, Linnea Uyeno Jan 2020

An Empirical Analysis Of Company Culture: Using Glassdoor Data To Measure The Impact Of Culture And Employee Satisfaction On Performance, Linnea Uyeno

CMC Senior Theses

This paper examines the impact of culture and employee satisfaction on company performance; it considers which elements of culture are most important in specific industries: manufacturing, technology, and finance. Additionally, it explores whether these elements of productive cultures are also associated with employee satisfaction. It uses data from the MIT Sloan Management Review/Glassdoor Culture 500 database, which applied machine learning to analyze 1.2 million Glassdoor reviews. This data quantitatively measures nine dimensions of culture: agility, collaboration, customer focus, diversity, execution, innovation, integrity performance, and respect—assigning each company a score for every cultural dimension. Two depende­­­nt variables are used to measure …


“It’S Gonna Be Yuge”: The Impact Of Chinese Imports On United States Manufacturing Firm Valuations, Charles Mangum Jan 2020

“It’S Gonna Be Yuge”: The Impact Of Chinese Imports On United States Manufacturing Firm Valuations, Charles Mangum

CMC Senior Theses

Throughout the years there has been literature regarding the impacts of Chinese manufacturing on the United States economy. Much of the focus has been centered on macro-economic effects and not firm level impacts. Using trade exposure and data from publically traded manufacturing firms I provide an analysis of the potential effects of increased trade exposure in a highly competitive market. My research aims to measure the impacts of Chinese imports on United States manufacturing companies with low technological barriers to entry. When comparing trade exposure to firm level data I conclude that there is a negative correlation between investment levels …


Are Female Executives Receiving Adequate Capital Financing? An Analysis Of Gender Disparity On Venture Capital Funding, Lina Aluzri Jan 2020

Are Female Executives Receiving Adequate Capital Financing? An Analysis Of Gender Disparity On Venture Capital Funding, Lina Aluzri

CMC Senior Theses

This paper examines the inequalities that exist between male and female CEO’s and other top executives by analyzing the effect of gender diversity when it comes to venture capital funding and firm performance. Building off of previous research, I focus on three major areas. First, I utilize data from 2016 to 2018 found in PitchBook and Wharton Research Data Services (WRDS). Second, I explore the effect of firm performance prior to funding on the amount of capital received. Third, I narrow down the analysis of firms to 364 companies that were once venture capital backed and have successfully exited with …


How Announcements Of The Qualified Mortgage Patch Expiration Have Impacted The United States Housing Market, Connor Gaskin Jan 2020

How Announcements Of The Qualified Mortgage Patch Expiration Have Impacted The United States Housing Market, Connor Gaskin

CMC Senior Theses

This study analyzes the impacts of different announcements of the Qualified Mortgage GSE Patch expiration, set for January 10, 2021. The Qualified Mortgage GSE Patch was introduced in January 2014 to allow for the GSEs, Freddie Mac and Fannie Mae, to originate loans above the monthly Debt-to-Income ratio of 43 percent with the same protections as a Qualified Mortgage. To analyze these impacts, I measure the changes in the number of loans the GSEs obtain and weighted average home price before the announcement to after the announcement. In order to test for significance, I use a five- year benchmark period …