Business Commons^™

Closing Pandora’S Box: Reducing Student Confusion With A Process Costing Simulation, Marie Kelly, Nikki Shoemaker

Faculty Publications

This paper describes a classroom Process Costing simulation that can be used in both introductory managerial accounting and cost accounting courses in order to help students better understand the principles of process costing and how to apply these principles to a problem. In groups, students work to manufacture candy necklaces for a set amount of time. After the manufacturing time has ended, students work together to determine equivalent units of production, cost per equivalent unit, and total costs for the period. Subsequently, a final class discussion provides opportunities for differences between groups to be discussed and any additional questions to …

Three Essays On The Effects Of The Exchange Act Rule 12h-6 On Cross-Listings Of Foreign Firms In The U.S. Market, Pratanphorn Piriyakul-Frye

ETD Archive

The 2007 Exchange Act Rule 12h-6 relaxes the deregistration requirements for the U.S.-listed foreign firms to leave the U.S. market, opening an opportunity to examine the benefit and costs of listing in the U.S market for foreign firms. Using a sample of all U.S.-exchange cross-listing events during 1998-2012, the results document that the U.S. exchanges are more likely to attract a larger pool of foreign listing activities in the post-Rule 12h-6 period. This increased attractiveness of the U.S market, however, is worrisome as the post-Rule 12h-6 listings appear to be more pronounced among firms from countries with weaker investor protection. …

Do President Trump’S Tweets Increase Uncertainty In The Us Economy?, Michael Simpson

Honors Theses and Capstones

When President Trump tweets, does it change uncertainty in the economy? This study gathers President Trump’s tweets off his twitter accounts from October 2016 to October 2017 and classifies each of them as either negative (expected to increase uncertainty), positive (expected to decrease uncertainty) or neutral (no effect expected on uncertainty). I find that tweets with a negative sentiment were followed by an increase in uncertainty in the VIX and S&P 500 1 and 2 minutes after the tweet. Similar results were found for positive tweets. Non-neutral tweets increase trading volume in the VIX and S&P 500 by up to …

The Department Of Labor Fiduciary Rule: How Will It Affect Financial Advisors And Their Clients?, Claire Hawkes

Honors Theses and Capstones

No abstract provided.

Government Auditing Standards And Single Audit Developments, 2018/19; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Tax Abatement Disclosures: An Exploratory Study Of Professional's Perceptions And Early Disclosures Of Gasb Statement No. 77, M. Fischer, Amy Foshee Holmes

School of Business Faculty Research

The Governmental Accounting Standards Board (GASB) adopted Statement No. 77 requiring government disclosure of tax abatements in audited financial reports for years beginning after December 15, 2015. This paper reports survey findings provided by accounting and finance professionals (practitioners) regarding their tax abatement reporting perceptions. We then review early implementation of the abatement disclosure and find the disclosed information does not meet the practitioner’s expectations. Our findings fill a gap in state and local financial reports as it appears the new disclosure requirement does not fulfill the Board’s reporting transparency expectation goals.

The Influences Of Locus Of Control, Debt Overhang, And Framing On Saving For Retirement, Patrick Ilcin

Undergraduate Honors Thesis Collection

This study evaluates locus of control, debt overhang, and framing effects as potential drivers of retirement savings decisions. We use a hypothetical scenario administered through an online survey to analyze how much an individual will save for retirement. The study finds that individuals who measure as having an external locus of control (based off the Rotter I-E scale), contribute significantly less to their retirement savings than individuals with an internal locus of control. Interestingly, this study finds no significant relationship between debt overhang and initial contributions. To measure framing effects, participants were given the choice to change their initial contribution …

Finance Day At Ua, Shelby Amatangelo

Williams Honors College, Honors Research Projects

Financial stability cannot be built overnight. It takes years of working, saving, investing and planning to develop and maintain financial stability. However, one poor financial decision can destroy a person’s financial stability that they spent years creating. Over 25% of high school students believe that they will be unprepared to manage their finances upon high school graduation (Cooley, 2013). While 43 states require that K-12 standards in financial literacy, only 35 of them are required to be implemented (Heath, 2016). Furthermore, only 17 states require that a high school course in personal finance be taken to graduate and only 6 …

Returns To Buying Winners And Selling Losers: A Look At Cryptocurrencies, Daniel Walker

CMC Senior Theses

This paper is, to my knowledge, one of the first ever to examine the effectiveness of price momentum trading strategies applied to cryptocurrencies. Using aggregate OHLCV (Open, High, Low, Close, Volume) data on cryptocurrency pairs from Poloniex, Bittrex, and Bitfinex, I apply Jegadeesh and Titman’s classic -month/-month momentum trading strategy, reporting annual returns with and without incorporating trading fees. Portfolios are resampled daily, weekly, and monthly, testing lookback and holding periods ranging from one day to one year. The results show that trading cryptocurrencies using momentum strategies derives returns that rapidly increase the more often portfolios are resampled, with the …

Strategic Financial Management, Fina-475, Roberto Stein

UNL Faculty Course Portfolios

Strategic Financial Management is the new, case-based capstone course of the Finance Major at the UNL College of Business. Introduced in the Fall 2016 Term, it has since been revised and is being continually updated, to better achieve the its academic goals. In this portfolio, I describe the course’s overall structure, goals and main components. I then detail a number of changes made for the Spring 2018 version of the course, and proceed to analyze data pertaining to the outcomes observed from these changes. Finally, I outline potential strategies and further changes that might be implemented in future iterations of …

Pre-Management? How To Best Prepare: A Brief Overview For Potential Accounting, Finance, And Information Systems Students, Ammon Kou

Marriott Student Review

Many pre-management students are curious about the accounting, finance, and information systems majors offered at BYU. This article features an overview of each major and how best to prepare for those majors’ programs.

Unexpected Connections: Full Issue Of Volume 1, Issue 3, Marianna E. Richardson

Marriott Student Review

Unexpected Connections is the Fall 2017 Issue of Marriott Student Review.

The Retainer-Based Model Of Financial Planning, Savannah Stone

Mahurin Honors College Capstone Experience/Thesis Projects

Through attending my classes and working part-time at a financial planning firm, I have learned about many different types of compensation for financial planners, the most common being commissions and fees. Western Kentucky University allowed me to travel to San Diego in January of 2017 to attend the TD Ameritrade LINC 2017 conference, and it was there that I was introduced to the concept of a monthly retainer model of compensation. This grabbed my attention because it was a relatively new and unusual form of payment for financial planning services. Through curiosity, this topic encouraged my study of the past, …

Venture Capital Contract Design: An Empirical Analysis Of The Connection Between Bargaining Power And Venture Financing Contract Terms, Spencer Williams

Fordham Journal of Corporate & Financial Law

This Article presents an empirical analysis of the connection between bargaining power and contract design using an original dataset of over 5,500 equity and debt venture financings from 2004–2015. Using the total supply of venture capital in the U.S. as a measure of relative bargaining power between entrepreneurs and investors, this Article finds that venture capital supply has a statistically significant relationship with price and non-price terms in both equity and debt financings. These results contradict one of three theoretical accounts of bargaining power and support the other two.

Implementing The Heston Option Pricing Model In Object-Oriented Cython, Brandon Hardin

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The 1973 Black-Scholes model, a revolutionary option pricing formula whose price is 'relatively close to observed prices, makes an assumption that the volatility is constant and thus, deterministic. This causes some inefficiencies and patterns in the pricing of options due to the model providing evidence of the volatility smile' of the volatility. Many scholars have suggested that the volatility should be modelled by a stochastic process and the (1993) Heston Model is one of many proposed solutions to remedy this problem. The Heston Model allows for the 'smile' by defining the volatility as a stochastic process. This thesis considers a …

Principles Of Accounting I, Acc 1101, Course Outline, Rachel Raskin

Open Educational Resources

Principles of Accounting I will introduce the fundamental concepts underlying financial accounting. It will explore the accounting cycle and demonstrate how the financial reporting process is impacted by accounting standards. You will learn to read and understand the financial statements and how proper internal controls are vital for the preparation of accurate and reliable financial information.

Research Project In Finance: Kss Kohl's Corporation, Garrett Blair

Student Scholarship

Kohl’s Corporation ($KSS) is a discount department store. Kohl’s was founded in 1927 as a grocery store, building their first department store in 1962 in Menomonee Falls, Wisconsin. In 1972, British American Tobacco purchased an 80% stake in Kohl’s and took complete control. In 1986, due to the mismatch between Kohl’s and British American Tobacco’s strategies, Kohl’s was purchased by a group of investors led by Kohl’s management. From 1988 to 1992 when they went public, Kohl’s increased their sales from $388 million to $1 billion. Kohl’s completed its initial public offering for 11.1 million shares in May of 1992, …

Healthcare Sector Stock Returns And The Election Of Donald J. Trump, Cordell Hull

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The 2016 US Presidential Election was hallmarked by significant policy differences between the Democratic and Republican parties. Healthcare reform was one of the most significant and highly debated issues between the candidates; Hillary Rodham Clinton (D-NY) and Donald J. Trump (R-NY). The Republican platform of repeal and replace was in direct opposition to the expansionary viewpoints of the Democratic Party which was to promote increased regulations on the healthcare and pharmaceutical industries. The media narrative in the months preceding the election assumed a Democratic victory as a sure thing. The New York Times gave Hillary Clinton a 98.5% chance of …

The Impact Of The 2016 Election On The Financial Performance Of Major Healthcare Companies, Joshua T. Blotter

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Healthcare reform was a significant political issue during the November 2016 US general elections, and played an important role in campaigning and political discourse leading to the election. Donald Trump, the Republican presidential candidate, and Republicans running for congressional office, campaigned on a platform advocating for the repeal and replacement of the Patient Protection and Affordable Care Act of 2010 (ACA), among other changes. Hillary Clinton, the Democratic presidential candidate, and Democrats running for congressional office, campaigned on a platform that included support for the ACA, as well as increased regulations on the pharmaceutical industry and health insurers, among various …

New Perspectives On Bank Risk In Malaysia, Robert J. Powell

Research outputs 2014 to 2021

Stable banks in individual ASEAN countries are essential to the economic stability of the ASEAN region as these countries move towards the goal of greater financial integration in the region. This study comprehensively explores bank risk in Malaysia as compared to the ASEAN region over an 18-year period which includes the Asian and Global Financial Crises. Metrics used include non-performing loans (NPLs), conditional distance to default (CDD which focuses on tail risk of asset volatility and is the authors own measure of bank default based on an extension to the Merton distance to default (DD) model) and a tail risk …

Financial Management Issues Of College-Aged Students: Influences And Consequences, Katharine N. Widener

Selected Honors Theses

College students have acquired a reputation of irresponsibility and impulsivity, which has contributed to the perception that they are poor managers of money. This researcher sought to establish a clearer picture of the full story behind how college students handle their finances through a comprehensive literature review. Several searches were conducted on the topics of college students, finances, money management, debt levels, and other related terms. Scholarly articles were analyzed for common themes and research patterns, and the various strings of research identified were categorized into three main headings: Financial situation, financial influences, and financial consequences. The three major headings …

Short - Term Investing, Matt J. Abraitis

Senior Honors Projects

Launched in March of 1957, The Standard and Poor’s 500 Index (The S&P 500) was the first index to be published daily. Starting with an indicator in 1923 for 233 companies, and then growing to 416 in 1941, today it is used as a common benchmark for the health of the U.S. stock market with 500 companies. These 500 companies offer some of the largest stocks (claims of ownership in public American companies) in the United States although it is not the only index to gauge the health of the economy. In 2012, Standard & Poor’s combined its index operations …

Oral History Conversation With Evan Malter, Tyler J. Hodges, Mary Ann Lee, Max Opperman, Salvador Llamas

Philosophy: All Student Work

An oral history interview with Evan Malter. Evan walks through his life story, personal experiences, and how they have led to the creation of Count Loyalty, a small business that identifies loyalty capital for businesses looking to obtain a bank loan.

Government Auditing Standards And Single Audits, March 1, 2017; Audit Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

State And Local Governments, March 1, 2017; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

What Exactly Is Market Integrity? An Analysis Of One Of The Core Objectives Of Securities Regulation, Janet Austin

William & Mary Business Law Review

One of the main objectives of securities regulation around the world is to protect the integrity or fairness of the markets. This, together with protecting investors, improving the efficiency of markets, and protecting the markets from systemic risk, form the four fundamental goals of securities regulation.

However, what exactly is envisaged by this concept of market integrity or fairness? Are these simply norms of behaviour incapable of further definition? Despite their importance, relatively little attention has been given to these concepts in the literature. Do they, for example, require securities regulators to just work towards eliminating dishonest trading practices such …

Private Equity In Family Firms: Drivers Of The Willingness To Cede Control, Marisa Henn, Prof. Dr. Eva Lutz

The Journal of Entrepreneurial Finance

Our aim is to empirically examine how reasons for using private equity (PE) and prior experience with PE affect the willingness of privately held firms to cede company control. Based on a questionnaire entailing 75 privately held firms backed by PE, we show that family firms cede less control than non-family firms when entering a PE transaction. However, if firms seek funds due to challenges related to ownership changes, the difference between family firms and non-family firms decreases. Moreover, we find that family firms sell more company shares if they are run by a PE-experienced manager.

Determining Fair Market Value For Duke’S Sporting Goods Store, Michael Goldman, Daniel A. Rascher

Sport Management

Shelley Valdez is a recent finance team hire at Duke’s Sporting Goods Store. She has 1 week to identify, gather, and analyze relevant information to calculate the financial value of the business, using the income and market approaches. She has also been asked to consider Duke’s liquidation value, and comment on the strategic options these calculations point to, before a board meeting of the owners next week.

Lumberjack Construction: Job-Order Costing & Manufacturing Simulation, Marie Kelly, Nikki Shoemaker

Faculty Publications

This paper describes a classroom Job-Order Costing and manufacturing simulation called Lumberjack Construction. This simulation is used in introductory managerial accounting and cost accounting courses to help students understand the various parts of the manufacturing process and the application of Job-Order Costing principles. For this simulation, students are placed into manufacturing groups. Each group is responsible for manufacturing a building and calculating the cost of that building using job-order costing.

Scaling Impact Investing Through Innovative Finance: A Focus On Women's Livelihoods, Durreen Shahnaz

Social Space

I embarked on a journey from the first steps of my career to utilise finance to do good for the world. This journey has now turned into a global movement that is taking the world by a storm, known as impact investing or social finance.