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2019

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Full-Text Articles in Business

How Informative Are Fraud And Non-Fraud Firms' Earnings?, Kwadwo Nyarko Asare Jan 2019

How Informative Are Fraud And Non-Fraud Firms' Earnings?, Kwadwo Nyarko Asare

Accounting Department Faculty Journal Articles

This study evaluates how informative the earnings of fraud firms are compared to peer non-fraud firms by assessing informativeness in the context of persistence, analysts’ forecast errors, and stock returns. There are differences in how informative the earnings of fraud firms are to analysts’ forecasts and returns in the pre-fraud period, but not in the fraud period. In the post- fraud period, there is no difference in how informative fraud firms’ earnings are to analysts’ earnings forecasts. Furthermore, fraud firm’s earnings are not differentially associated with excess returns post-fraud. When earnings are decomposed into accruals and cash flows, fraud firms’ …


Reality Checks For Career Women: An Interpretevist Paradigm, Mary Anthony, Werner Soontiens Jan 2019

Reality Checks For Career Women: An Interpretevist Paradigm, Mary Anthony, Werner Soontiens

Business Papers and Journal Articles

This paper reflects on the latent organisational process that leads tothe scarcity of women in senior positions. Utilising characteristics of legitimisation, institutionalisation and self-determination theories the paper observes how women manage upward mobility. Subsequently, it was important to investigate the mid-level cohorts, as there lies the critical question triggering the anomaly. Focusing on the public sector with an interest in gendered organisations, the study examines law enforcement. Conversely, the aim of this paper is to focus on why there is a continued dearth in the number of policewomen at top level positions in USA and Australia. A qualitative study with …


Influence Of Personality Traits And Moral Values On Employee Well-Being, Resilience And Performance: A Cross-National Study, Vidya S. Athota, Pawan Budhwar, Ashish Malik Jan 2019

Influence Of Personality Traits And Moral Values On Employee Well-Being, Resilience And Performance: A Cross-National Study, Vidya S. Athota, Pawan Budhwar, Ashish Malik

Business Papers and Journal Articles

Research examining the relationship at the interface of personality, values, moral foundations and its impact on employees’ subjective well-being, resilience, job performance and satisfaction is almost non-existent. This study addresses this Special Issue’s call focusing on the key antecedents and consequences of resilience on individual and/or organizational level outcomes. It does so by analyzing data from two different, through comparative cross-national studies in Australia and India. Employing a quantitative survey method, we collected data from 195 respondents in Australia and 257 respondents from India. Employing the core theory of moral foundations in association with its relationships with individual personality, values, …


Strategies To Minimize Perishable Food Loss In The Retail Grocery Business, Thankgod Chukwumeka Aleruchi Jan 2019

Strategies To Minimize Perishable Food Loss In The Retail Grocery Business, Thankgod Chukwumeka Aleruchi

Walden Dissertations and Doctoral Studies

Supply chain managers in the retail grocery industry face significant challenges in reducing the wastage of perishable food. Perishable food spoilage and deterioration in the retail grocery industry result in a significant loss of profitability and consumer satisfaction. The purpose of this multiple case study was to explore the strategies that supply chain managers in the retail grocery business used to minimize perishable food loss. The perishable inventory theory was used as the conceptual framework. Data were collected from semistructured interviews with 6 Pennsylvania retail grocery supply chain managers who implemented strategies to minimize perishable food loss and from organizational …


Student Retention In Information Systems Majors: The Role Of Creative Self-Efficacy, Peter Garrow, Greg Anderson, Mark J. Keith, Alexandra N. Spruill Jan 2019

Student Retention In Information Systems Majors: The Role Of Creative Self-Efficacy, Peter Garrow, Greg Anderson, Mark J. Keith, Alexandra N. Spruill

Faculty Publications

At times the Information Systems (IS) major has suffered from declining enrollment. Also, STEM fields such as IS are known to suffer from a lack of gender diversity. This research focuses on why students drop out from IS programs and how to provide actionable feedback to improve student retention, particularly among female students. We use creative self-efficacy (CreaSE) as a theoretical lens to explain student retainment. In particular, as students have more confidence in their ability to solve business problems with IS solutions, they are more likely remain in IS courses. Students who sought help from their instructor and StackOverflow.com …


Game Of Loans: The Relationship Between Education Debt, Social Responsibility Concerns, And Making A Career Choice In The Public, Private, And Nonprofit Sectors, Eddy Ng, Jasmine Mcginnis Johnson Jan 2019

Game Of Loans: The Relationship Between Education Debt, Social Responsibility Concerns, And Making A Career Choice In The Public, Private, And Nonprofit Sectors, Eddy Ng, Jasmine Mcginnis Johnson

Faculty Journal Articles

The public and nonprofit sectors generally pay less than the private sector, and individuals are willing to forgo higher salaries in exchange for greater intrinsic satisfaction derived from making a contribution to society. However, personal financial considerations, such as education debt, may discourage individuals from pursuing careers in lower paying sectors even if they are predisposed to public service motivation (PSM). We surveyed a sample of graduating students to investigate if (a) education debt discourages students from pursuing lower paying public or nonprofit careers and (b) whether PSM overrides the considerations students might make about entering lower paying sectors as …


ระบบประเมินความพร้อมในการรับเทคโนโลยีของอุตสาหกรรมอาหารของไทย, กมล ปานม่วง Jan 2019

ระบบประเมินความพร้อมในการรับเทคโนโลยีของอุตสาหกรรมอาหารของไทย, กมล ปานม่วง

Chulalongkorn University Theses and Dissertations (Chula ETD)

การวิจัยนี้เป็นการวิจัยแบบผสานวิธี โดยมีวัตถุประสงค์เพื่อศึกษาปัจจัยที่มีอิทธิพลต่อการถ่ายทอดเทคโนโลยีจากหน่วยงานวิจัยไปสู่ภาคอุตสาหกรรม ศึกษาตัวชี้วัดสำหรับการประเมินความพร้อมในการรับเทคโนโลยี พัฒนาระบบประเมินความพร้อมในการรับเทคโนโลยี และทดสอบการยอมรับการใช้งานระบบประเมินความพร้อมในการรับเทคโนโลยีและความเป็นไปได้ในเชิงพาณิชย์ โดยทำการวิจัยเชิงคุณภาพด้วยการทบทวนวรรณกรรมและสัมภาษณ์ผู้เกี่ยวข้องในเชิงลึก จำนวน 14 ราย เพื่อสังเคราะห์ปัจจัยที่มีอิทธิพลต่อการถ่ายทอดเทคโนโลยี นำข้อมูลที่ได้จากการวิจัยเชิงคุณภาพไปทำการพัฒนาเครื่องมือวิจัยเชิงปริมาณเพื่อศึกษาตัวชี้วัดสำหรับการประเมินความพร้อมในการรับเทคโนโลยี และเก็บข้อมูลโดยใช้แบบสอบถาม โดยมีกลุ่มตัวอย่างเป็นผู้ประกอบการในอุตสาหกรรมอาหาร จำนวน 200 ราย ทำการวิเคราะห์องค์ประกอบเชิงสำรวจด้วยโปรแกรมเอสพีเอสเอส แล้วนำข้อมูลองค์ประกอบที่ได้จากการวิเคราะห์ไปทำการพัฒนาแบบจำลองการประเมินความพร้อมในการรับเทคโนโลยี โดยทำการให้น้ำหนักเกณฑ์ประเมินโดยผู้เชี่ยวชาญจำนวน 16 ราย เพื่อพัฒนาแบบจำลองการประเมินและทำการทดสอบโดยกลุ่มตัวอย่างจำนวน 20 ราย แล้วนำแบบจำลองการประเมินที่ได้ไปทำการพัฒนาโปรแกรมระบบประเมินในรูปแบบโปรแกรมประยุกต์บนเว็บ และนำโปรแกรมที่พัฒนาขึ้นไปทำการทดสอบการยอมรับใช้งานเทคโนโลยีด้วยทฤษฎีการยอมรับเทคโนโลยี กับกลุ่มผู้ใช้งานที่เกี่ยวข้องกับการถ่ายทอดเทคโนโลยี จำนวน 30 ราย และวิเคราะห์การนำผลงานวิจัยไปใช้ประโยชน์ในเชิงพาณิชย์ด้วยแบบจำลองทางธุรกิจ ผลการวิจัยเชิงคุณภาพโดยการทบทวนวรรณกรรมและสัมภาษณ์เชิงลึก พบว่าปัจจัยที่มีอิทธิพลต่อการถ่ายทอดเทคโนโลยี สามารถแบ่งได้เป็น 7 ด้าน ได้แก่ ปัจจัยเกี่ยวกับหน่วยงานวิจัย ปัจจัยด้านการสนับสนุนจากภายนอก ปัจจัยด้านการบริหารและกลยุทธ์ ปัจจัยด้านการวิจัยและพัฒนา ปัจจัยด้านเทคโนโลยีและการผลิต ปัจจัยด้านการตลาด และ ปัจจัยด้านทรัพยากรมนุษย์ ผลการวิจัยเชิงปริมาณ จากแบบสอบถามและทำการวิเคราะห์องค์ประกอบเชิงสำรวจ พบว่าความสำเร็จในการรับเทคโนโลยีของผู้ประกอบการในอุตสาหกรรมนั้น มีองค์ประกอบที่เป็นปัจจัยหลัก6 องค์ประกอบ ได้แก่ ด้านการวิจัยและพัฒนา นวัตกรรม และการผลิต ด้านการบริหารจัดการกลยุทธ์เพื่อรองรับธุรกิจเทคโนโลยี ด้านการดำเนินงานด้านธุรกิจเทคโนโลยี ด้านการจัดการภายในองค์กร ด้านการตลาดและการพัฒนาผลิตภัณฑ์ และ ด้านปัจจัยจากภายนอกองค์กร โดยทั้งหมดนี้ประกอบด้วยตัวชี้วัดย่อยจำนวน 41 ตัวชี้วัด การประเมินและทดสอบเกณฑ์ชองแบบจำลองมีความถูกต้องร้อยละ 90 และผลการทดสอบการยอมรับการใช้งานเทคโนโลยี พบว่านวัตกรรมระบบประเมินมีความพร้อมในการทำงานอยู่ในระดับมากที่สุดทุกด้าน โดยเฉพาะด้านประสิทธิภาพของ และมีการยอมรับนวัตกรรมระบบประเมินในระดับมากที่สุดทุกด้าน โดยเฉพาะด้านความตั้งใจในการใช้งานโปรแกรม ระบบที่พัฒนาขึ้นนี้ความเป็นไปได้ในเชิงพาณิชย์ตามแนวคิดแบบจำลองทางธุรกิจ โดยใช้เงินลงทุน 302,000 บาท และสามารถคืนทุนได้ในเวลา 1.73 ปี


ตัวแบบนวัตกรรมบริการเพื่อคุณภาพชีวิตผู้สูงอายุ: บริการแนะนำงานตามวิถีชีวิตผู้สูงอายุ, ณิชามน สิทธิพลพร Jan 2019

ตัวแบบนวัตกรรมบริการเพื่อคุณภาพชีวิตผู้สูงอายุ: บริการแนะนำงานตามวิถีชีวิตผู้สูงอายุ, ณิชามน สิทธิพลพร

Chulalongkorn University Theses and Dissertations (Chula ETD)

งานวิจัยนี้มีวัตถุประสงค์ในการพัฒนาตัวแบบนวัตกรรมบริการแนะนำงานตามวิถีชีวิตเพื่อคุณภาพชีวิตผู้สูงอายุ งานวิจัยนี้ใช้วิธีการวิจัยผสมเพื่อศึกษาวิถีชีวิตผู้สูงอายุและการออกแบบบริการแนะนำงาน พัฒนาและทดสอบตัวแบบนวัตกรรมบริการแนะนำงานตามวิถีชีวิตเพื่อคุณภาพชีวิตผู้สูงอายุ และศึกษาการยอมรับและแนวโน้มความเป็นไปได้ในเชิงพาณิชย์ของนวัตกรรมบริการแนะนำงานนี้ มีการศึกษาเชิงคุณภาพปริมาณโดยการสัมภาษณ์เชิงลึกผู้เชี่ยวชาญด้านต่างๆ และมีการวิจัยเชิงสำรวจเพื่อสร้างตัวแบบด้วยเทคนิคการเรียนรู้ของเครื่องจักร โดยเก็บข้อมูลด้วยแบบสอบถามจากกลุ่มตัวอย่าง 632 คน พบว่ากลุ่มตัวอย่างมีวิถีชีวิตแตกต่างกัน 6 ประเภท คือ เข้าสังคม รักสุขภาพ รักบ้าน พึ่งพาตนเอง ทันสมัย และเก็บตัว งานวิจัยนี้ใช้โปรแกรม R ในการสร้างตัวแบบวิเคราะห์ความถดถอยโลจิสติคแบบไบนารีทั้งหมด 12 ตัวแบบเพื่อให้การทำนาย 12 ประเภทงาน (งานสอน งานขายสินค้า งานที่ปรึกษา งานคหกรรมหรือหัตถกรรม งานบริการ งานเกษตรกรรม งานรับจ้างทั่วไป ธุรกิจส่วนตัว งานอาสาสมัคร งานบำเพ็ญประโยชน์ งานมูลนิธิ/ที่ปรึกษาหน่วยงาน/การกุศล งานที่ได้ใช้ความรู้ประสบการณ์การทำงาน) มีความแม่นยำสูงสุด ตัวแบบบริการแนะนำงานตามวิถีชีวิตนี้สามารถทำนายได้ถูกต้องถึงร้อยละ 91.20 นอกจากนี้ยังพบว่าข้อมูลประชากรศาสตร์เป็นปัจจัยสำคัญในการแนะนำงาน แต่หากผนวกกับข้อมูลด้านจิตวิทยาจะช่วยเพิ่มประสิทธิภาพได้ดียิ่งขึ้น การศึกษาความเป็นไปได้ในเชิงพาณิชย์ของนวัตกรรมบริการแนะนำงานพบว่าทางเลือกที่น่าสนใจลงทุน คือการอนุญาตให้ใช้สิทธิแต่เพียงผู้เดียว ระยะเวลา 5 ปี (อัตราผลตอบแทนภายในร้อยละ 82, มูลค่าปัจจุบันสุทธิ 132,095 บาท, ระยะเวลาคืนทุน 0.6 ปี)


The Impact Of Inflation On Stock Returnsin Stock Exchange Of Thailand, Chayaporn Tocharoen Jan 2019

The Impact Of Inflation On Stock Returnsin Stock Exchange Of Thailand, Chayaporn Tocharoen

Chulalongkorn University Theses and Dissertations (Chula ETD)

This paper aims to determine the impacts of expected and unexpected inflation on stock returns in Stock Exchange of Thailand. Moreover, this is the first paper that studies the impact consensus forecast inflation rate on stock return in Thailand. To investigate these findings, we decided to look into the period between June 2004 - December 2019 in 8 sectors of Stock Exchange of Thailand including Agricultural and Food, Consumer Products, Financials, Industrials, Property and Construction, Resources, Services and Technology to find the relationship between inflation and stock returns. The results indicate expected inflation has strongly impact on stock returns, while …


Exploring Alumni Valuation Of An Undergraduate Leadership Program, John D. Egan Jan 2019

Exploring Alumni Valuation Of An Undergraduate Leadership Program, John D. Egan

College of Graduate Studies: Theses & Dissertations

This study explored alumni’ valuation of an undergraduate leadership program by gaining an understanding of what leadership learning and leadership behaviors transferred into their work environments. The alumni graduated from the same university in the southeastern United States, and while enrolled completed a four-year, co-curricular leadership program. In this mixed methods study, eight participant alumni engaged in semi-structured interviews as well as completed the Leadership Practices Inventory. Alumni perceived that leadership experiences, learning community, classroom learning, peer coaching, and intentional reflection were the most valuable attributes of the program. The leadership learning that effectively transferred to work environments included collaboration, …


Public Health Workforce Perceived Impact Of Emerging Issues In Public Health, Kristie C. Waterfield Jan 2019

Public Health Workforce Perceived Impact Of Emerging Issues In Public Health, Kristie C. Waterfield

College of Graduate Studies: Theses & Dissertations

Background: In an era where public health has been viewed as a global, multi-disciplinary field, the public health workforce has remained united to unfailingly holding fast to the mission of protecting, promoting, and improving the health of the public. However, the practice of public health is consistently evolving, and the workforce is continually facing a mirage of challenges. In order to overcome these challenges, practitioners need to be up-to-date on the necessary knowledge and skills to effectively deliver the core public health services.

Purpose: The purpose of this research was to explore the perceived impact of emerging trends in public …


How Does The Thai Stock Market Respond To Monetary And Fiscal Policy Shocks?, Suthawan Prukumpai, Yuthana Sethapramote Jan 2019

How Does The Thai Stock Market Respond To Monetary And Fiscal Policy Shocks?, Suthawan Prukumpai, Yuthana Sethapramote

DLSU Business & Economics Review

This study examines the impacts of monetary and fiscal policy on the Thai stock market using the structural vector autoregressive (SVAR) model. In addition to the data on the market aggregate level, we also consider the response of stock prices at the sectoral level. The empirical results show that the Thai stock market significantly responds to both monetary policy and fiscal policy. However, monetary policy has stronger effects on both real output and stock prices than those of fiscal policy. Fiscal policy shocks affect the stock market only for the next two to three quarters. In addition, sector indices wereused …


Legal Setbacks, Disbursement Sudden Stops, And Fiscal Stimulus: An Empirical Characterization Of A Recent Philippine Fiscal Experience, Lawrence B. Dacuycuy, Mariel Monica R. Sauler Jan 2019

Legal Setbacks, Disbursement Sudden Stops, And Fiscal Stimulus: An Empirical Characterization Of A Recent Philippine Fiscal Experience, Lawrence B. Dacuycuy, Mariel Monica R. Sauler

DLSU Business & Economics Review

Recognizing the importance of expanding fiscal spending programs and improving disbursement rates, the Aquino administration implemented the Disbursement Acceleration Program (DAP) in 2011. Acting as a fiscal stimulus but packing a fiscal surprise, the program has reportedly succeeded in improving fiscal expenditure performance until the Supreme Court stopped it based on constitutional grounds. While there were official claims that it was effective in spurring growth, no study has been offered to investigate plausible mechanisms leading to expansions in output. This study proposes the use ofa dynamic stochastic general equilibrium (DSGE)model to stochastically simulate and compute simple fiscal multipliers to understand …


Time-Varying Weather Effects On Thai Government Bond Returns, Anya Khanthavit Jan 2019

Time-Varying Weather Effects On Thai Government Bond Returns, Anya Khanthavit

DLSU Business & Economics Review

This study proposed a state-space model that allows time-varying weather effects on asset returns. It resolves the model misspecification of the unrealistic, fixed effect assumption commonly made by previous weather studies. The model was applied to examine the weather effects on Thai government bond returns from July 2, 2001, to December 30, 2015. Kalman filtering was used in the estimation. The study found that the weather effects were time-varying. They were wandering in the early sample period but disappearing in the later period. The effects were not co-integrated with the market’s inefficiency levels.


The Price Of Progress: American Agricultural Innovations In Relation To Economic And Social Change, 1920-1989, Zachary Cass Moye Jan 2019

The Price Of Progress: American Agricultural Innovations In Relation To Economic And Social Change, 1920-1989, Zachary Cass Moye

Dissertations and Theses @ UNI

Agriculture is an industry that defines a unique society in the American Midwest. When farming technologies changed, agriculture as a system and society also changed. This thesis explores the critical changes that farmers faced during the 20th Century. Those links include a changing educational system, which would guide farmers into the world of mechanical farming technology, and the permeation of that technology in farm society. The economic cost of the changing aspects of agriculture drove social and technological change that took place during the years of the Great Depression through the 1980s Farm Crisis. Finally, this thesis covers the future …


Corporate Governance Reform In Post-Crisis Financial Firms: Two Fundamental Tensions, Christopher Bruner Jan 2019

Corporate Governance Reform In Post-Crisis Financial Firms: Two Fundamental Tensions, Christopher Bruner

Scholarly Works

The manner in which financial firms are governed directly impacts the stability and sustainability of both the financial sector and the "real" economy, as the financial crisis and associated regulatory reform efforts have tragically demonstrated. However, two fundamental tensions continue to complicate efforts to reform corporate governance in post-crisis financial firms. The first relates to reliance on increased equity capital as a buffer against shocks and a means of limiting leverage. The tension here arises from the fact that no corporate constituency desires risk more than equity does, and that risk preference only tends to be stronger in banks, and …


Do Conflicts Of Interest Require Outside Boards? Yes. Bsps? Maybe., Usha Rodrigues Jan 2019

Do Conflicts Of Interest Require Outside Boards? Yes. Bsps? Maybe., Usha Rodrigues

Scholarly Works

From the Symposium: Outsourcing the Board: How Board Service Providers Can Improve Corporate Governance

Boards of directors are curious creatures. The law generally requires corporations to have them—indeed, they are the focus of the corporate law we teach in Business Associations in U.S. law schools. The corporation is managed by directors or under their direction; directors hire and fire officers; directors are necessary for fundamental transactions.

But the reason why corporations have directors is not entirely clear. In the prototypical privately held corporation, the family firm, the same individuals serve both as directors and officers. The CEO (better known as …


Disclosure Overload? A Professional User Perspective On The Usefulness Of General Purpose Financial Statements*, Michael S. Drake, Jeffrey Hales, Lynn Rees Jan 2019

Disclosure Overload? A Professional User Perspective On The Usefulness Of General Purpose Financial Statements*, Michael S. Drake, Jeffrey Hales, Lynn Rees

Faculty Publications

We survey a broad group of professionals who use financial statements as part of their job to assess the extent to which they believe financial reports suffer from disclosure overload. Consistent with the claims made by regulators, auditors, and preparers, we find that a significant portion of professional financial statement users believe disclosure overload is a problem. However, this group is in the minority, with about twice as many professional users believing that overload is not a problem and that more information should be disclosed in financial statements. This dichotomy presents a difficult challenge to standard setters aiming to improve …


The Value Relevance Of Taxes: International Evidence On The Proxy For Profitability Role Of Tax Surprise, Jon Kerr Jan 2019

The Value Relevance Of Taxes: International Evidence On The Proxy For Profitability Role Of Tax Surprise, Jon Kerr

Faculty Publications

Despite evidence that tax surprise is incrementally value relevant, the literature has done little to broaden the investigation beyond the United States or examine circumstances that affect informativeness. After extending to the international setting, I examine the impact of tax enforcement. I report strong results of greater value relevance when tax enforcement is high and that the value relevance of tax surprise is mostly contained within its interaction with tax enforcement. These findings highlight the importance of tax enforcement in determining the information content of tax surprise and suggest that extant and future discussions should be broadened to include it.


The School-Based Family: Teachers As Parental Figures For Orphans And Vulnerable Children In Ugandan Schools, Stacy Taniguchi, Angela Warren, Steve Hite, Mark Widmer, Ramon B. Zabriskie, Yusef Nsubuga, Christopher Mugimu Jan 2019

The School-Based Family: Teachers As Parental Figures For Orphans And Vulnerable Children In Ugandan Schools, Stacy Taniguchi, Angela Warren, Steve Hite, Mark Widmer, Ramon B. Zabriskie, Yusef Nsubuga, Christopher Mugimu

Faculty Publications

The purpose of this study was to examine the possible formation of surrogate families within Ugandan schools, especially among orphans who lack positive development opportunities typically provided by parents. This qualitative study sample of 66 Ugandan secondary school students were selected from eight schools in the Mukono district of Uganda. Findings suggest a potentially widespread family formation pattern between students and their teachers. More than 75% of students interviewed self-identified their teacher as family. Some teachers were able to offer orphans and vulnerable children positive developmental assets and were, therefore, identified as family.


Theory Of Experiential Career Exploration Technology (Tecet): Increasing Cybersecurity Career Interest Through Playable Case Studies, Justin Scott Giboney, Derek L. Hansen, Tanner Johnson, Desiree Winters, Jason K. Mcdonald, Jonathan Balzotti, Elizabeth Bonsignore Jan 2019

Theory Of Experiential Career Exploration Technology (Tecet): Increasing Cybersecurity Career Interest Through Playable Case Studies, Justin Scott Giboney, Derek L. Hansen, Tanner Johnson, Desiree Winters, Jason K. Mcdonald, Jonathan Balzotti, Elizabeth Bonsignore

Faculty Publications

There is a large demand to fill cybersecurity jobs. To alleviate this need, it is important to generate interest in cybersecurity as a career. One way to do this is through job shadowing and internships. Using design science principles, we have built and tested a playable case study (PCS) where participants can act out a virtual internship and learn relevant cybersecurity skills. We ran a study with students in introductory university courses where they played through a simulated internship at a penetration testing company called CyberMatics. In the study we showed that a PCS format helps students 1) better understand …


Financing Method And Abnormal Returns In Corporate Mergers And Acquisitions, Patrick Thomas Jan 2019

Financing Method And Abnormal Returns In Corporate Mergers And Acquisitions, Patrick Thomas

CMC Senior Theses

This study analyzes the impact of merger and acquisition financing method on buyer cumulative abnormal returns. The model builds on findings in previous literature by including deal structure variables, company variables, industry variables, time variables, and post-acquisition announcement return data from 2000 to 2018. The analysis does not find a statistically significant relationship between cash plus debt/stock financing and cumulative abnormal returns. However, significant coefficients for buyer and target industry suggest that deal structure varies and ultimately effects cumulative abnormal returns within specific industries. Additionally, significant results for buyer profitability and time variables provide insight on how the financial market …


Are Cds Auctions The Tail Wagging The Dog? An Empirical Study Of Corporate Bond Return Volatility At The Time Of Default, Jennifer Mace Jan 2019

Are Cds Auctions The Tail Wagging The Dog? An Empirical Study Of Corporate Bond Return Volatility At The Time Of Default, Jennifer Mace

CMC Senior Theses

Over the past decade, numerous engineered credit events and cases of market participants manipulating bond prices to influence Credit Default Swap (CDS) auction payouts have occurred. These cases have become increasingly common, and the CFTC has stated they may constitute market manipulation and undermine not only the CDS market but also the credit derivative and default markets. Although there is a plethora of news and media coverage on publicized cases, there is no previous empirical research on evidence of these practices. This paper is motivated by the desire to determine if there is indirect evidence of bond price manipulation around …


The Impacts Of Supra-Regional Multi-Resort Season Passes: A Hedonic Pricing Model Of Single-Day Lift Tickets For Us Ski Areas, Sijia Lai Jan 2019

The Impacts Of Supra-Regional Multi-Resort Season Passes: A Hedonic Pricing Model Of Single-Day Lift Tickets For Us Ski Areas, Sijia Lai

CMC Senior Theses

Numerous media analyses claim that supra-regional multi-resort season passes (mega passes) are negatively impacting skiing, snowboarding, and winter-sport communities. In particular, media claims that ski areas on these season passes are charging higher single-day lift ticket prices to nudge people to buy their season pass products. To test this claim, I use a hedonic pricing model to estimate the impact of season passes on adult single-day lift ticket prices. By applying OLS regressions to a dataset of 302 US ski areas for the winter of 2018-19, I find that the ski areas on the leading season passes (Ikon and Epic …


The Fall Of The 10-K Report: Measuring The Impact Of Accounting Ratios On Financial Performance, Matthew Daruty Jan 2019

The Fall Of The 10-K Report: Measuring The Impact Of Accounting Ratios On Financial Performance, Matthew Daruty

CMC Senior Theses

The annual 10-K report has historically been the most important aspect in assessing the position of a publicly held company. However, as the flow of information has increased with the dawn of new technologies, less and less attention has been paid to these audited financial statements. In order to assess if investors are still reacting to the information contained in the annual report, this paper examines the relationship between accounting ratios and stock price in banks traded on United States stock exchanges. By examining accounting ratios instead of simply looking at Earnings Per Share, new information was revealed regarding what …


Deal Or No Deal: The Relationship Between Firm Determinants & Venture-Capital Financing Decisions, Raghav Prasad Jan 2019

Deal Or No Deal: The Relationship Between Firm Determinants & Venture-Capital Financing Decisions, Raghav Prasad

CMC Senior Theses

In this paper, I analyze how firm attributes such as their age, industry, nature of industry, spinoff status and debt ratio influence venture-capital financing decision. I look at a sample of 280 firms that went public in the United States between 2015- 2019. This paper finds that firm age and debt are negatively related to the likelihood of being venture-capital backed. It also finds that firms in technology and biotechnology industries are more likely to be backed by a venture-capitalist.


Are Nudges For Alternative Transit Persistent?, Mitchell J. Allan Jan 2019

Are Nudges For Alternative Transit Persistent?, Mitchell J. Allan

CMC Senior Theses

The benefits of converting single-person drivers to alternative transit options are well-established. One option to accomplish this is for employers to provide alternative commute incentive programs. However, the research on the implementation of such programs is lacking. To provide a test, this research analyzes data obtained from a field experiment on daily alternative transit commute choices for a seven-month period. Participants are divided into four treatment groups in a two-by-two design for the first three-month period: incentives with either loss or gain framing, and messaging nudges with either the private or public benefits of alternative transit commute choices. The participants …


International Music Preferences: An Analysis Of The Determinants Of Song Popularity On Spotify For The U.S., Norway, Taiwan, Ecuador, And Costa Rica, Brendan Joseph Suh Jan 2019

International Music Preferences: An Analysis Of The Determinants Of Song Popularity On Spotify For The U.S., Norway, Taiwan, Ecuador, And Costa Rica, Brendan Joseph Suh

CMC Senior Theses

This paper examines data from Spotify’s API for 2017-2018 to determine the effects of song attributes on the success of tracks on Spotify’s Top 200 Chart across five different countries: the U.S., Norway, Taiwan, Ecuador, and Costa Rica. Two dependent variables are used to measure the success of a song – a track’s peak position on the charts and the number of days it survives on a country’s Top 200 Chart. Using ten separate regressions, one for each dependent variable in all five countries, it is concluded that the presence of a featured guest on a track increases a song’s …


The 2011 Nfl Collective Bargaining Agreement: Intentions Vs. Incentives, Andrew Friedlander Jan 2019

The 2011 Nfl Collective Bargaining Agreement: Intentions Vs. Incentives, Andrew Friedlander

CMC Senior Theses

This thesis examines the impacts of four major negotiating elements in the 2011 NFL Collective Bargaining Agreement. This first entails considering the financial impacts of the Collective Bargaining Agreement through adjustments to the salary cap and changes in the rookie pay scale in conjunction with the increase of the veteran minimum salary. Veteran players sought to improve their earnings potential through the creation of the rookie pay scale and increases in the veteran minimum salary, but research has shown that these policies may not have actually accomplished the goal. Next, I inspect the changes in preseason training rules, which were …


Are The Public Subsidies Of Professional Sports Stadiums Worth The Cost Of Building Them?, Spencer Abraham Jan 2019

Are The Public Subsidies Of Professional Sports Stadiums Worth The Cost Of Building Them?, Spencer Abraham

CMC Senior Theses

The results generated by this research argue that, in the future, communities should take into account crime and other social costs as they analyze the merits of investing in new sports complexes and that a failure to consider these factors could constitute a serious dereliction on the parts of the public officials who are ultimately responsible for new facility investment decision making. Moreover, both this research and previous studies of the economic effects of new sports facilities, strongly indicate that public entities considering funding new facilities do a more in depth independent study of the likely economic consequences of their …