Corporate Finance Commons^™

People Orientation And Thing Orientation In Business Majors: Implications For Assessing The Impacts Of Cross-Functional Business Program Curricula, Todd J. Hostager, David A. Christopher, Kristy J. Lauver, Christopher Knowles

International Journal for Business Education

Background/Introduction/Purpose:  Prior research documented significant differences in people orientation and thing orientation (PTO) based on type of major and sex.  This study examines a set of measures for helping business programs to assess whether they are producing graduates equipped to consider both people and things when making decisions, regardless of their major or sex.

Methods/Design:  Students in a strategic management capstone course spent a single 75-minute session responding to a brief new venture pitch by identifying what types of additional information they would need to decide whether to invest in the business.  Three Likert-scaled options gauged the extent to participant …

Discounted Cash Flow Valuation Of Ethiopian Airlines Group: Country Risk, Currency Volatility, And Soe Dynamics In An Emerging Market Context, Rediet Wale Yirga

2026 Spring Honors Capstones Projects

This study presents a discounted cash flow valuation of Ethiopian Airlines Group, a state-owned enterprise in sub-Saharan Africa's largest aviation market. No published academic study has applied rigorous quantitative valuation to the airline within an emerging market framework. This research addresses that gap by constructing a multi scenario DCF model using audited financial data from FY2019/20 through FY2023/24, with projections through FY2029/30. The model incorporates a country risk premium using Damodaran's methodology and accounts for ETB/USD depreciation following Ethiopia's 2024 exchange rate liberalization. Sensitivity analysis identifies exchange rate volatility, fuel costs, and discount rate as primary drivers of enterprise value …

China Samr’S Review Process In Cross-Border Technology M&A, Gabriel A. Paknia

Honors Scholar Theses

China's State Administration for Market Regulation (SAMR) holds discretionary authority over the merger review process. This paper examines whether SAMR's review of technology and semiconductor transactions since the governing body's inception in 2018 reflects political-economic incentives beyond what competitive harm analysis alone would explain. The paper is broken into three core pillars: accessing SAMR's regulatory code to identify how flexibility to exercise discretion is codified, scrutinizing SAMR's full adverse outcome record for overrepresentation of technology and semiconductor deals, and deconstructing a semiconductor megamerger to illustrate those mechanisms with the backdrop of real time geopolitical events. I find that technology and …

Forecasting The Unpredictable: The Bullwhip Effect In The Toy Industry, Mannat Sethi

CMC Senior Theses

This thesis investigates the bullwhip effect, the amplification of demand variability as it moves upstream in a supply chain, with a focus on the toy industry, and comparative analysis with the technology and consumer goods sectors. Using annual data from 1993 to 2024, the study analyzes production and retail growth for Mattel, Hasbro, Intel, and Procter & Gamble to assess how variance between consumer demand and firm output has changed over time. Bullwhip ratios are calculated as the variance of production growth divided by the variance of retail growth across two periods: 1993–2008 and 2009–2024.

The findings show that toy …

Design Thinking For Corporate Social Responsibility Program Proposal Creation, Michelle "Mindy" D. Danovaro

University of the Pacific Theses and Dissertations

This qualitative study used action research to explore how the use of design thinking engaged employees in the creation of a corporate social responsibility (CSR) program proposal in a small- to medium-enterprises (SME) in the Sacramento region of California. The purpose of the study was to assess whether employee participation in a design thinking exercise could improve employee perception of engagement, inclusion, and reciprocity during the CSR program proposal creation. The study was grounded in social exchange theory, stakeholder theory, and design thinking methodologies. The iterative research process followed action research cycles (i.e., plan, act, observe, and reflect) integrated with …

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

Where Intangibles Travel: Essays On The Tax-Motivated Geography Of Innovation And Capital, Xuerui Kou

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This dissertation explores how taxation and institutional environments shape the global strategies of United States multinational enterprises (MNEs), with a particular focus on intangible assets and the cross-border allocation of innovation. Positioned at the intersection of international trade, public economics, and innovation studies, the three chapters collectively examine firm responses to international tax incentives and regulatory asymmetries.

Chapter 1 introduces the motivation and theoretical foundations of the dissertation, reviews related literature, and outlines the core research questions and empirical strategies. It highlights the increasing policy and academic interest in the geographic mobility of intangible capital, particularly in the context of …

Aircraft Leasing And Its Effects On Ireland's Airline Sector, Aaron Christian, Jeanne Sumrall

SACAD: Scholarly Activities

The aircraft leasing industry sits at the heart of Ireland’s aviation sector, making Ireland the global leader in the business. The presence of major leasing companies’ headquarters, including Avolon, SMBC and AerCap, in Ireland, allows for country to benefit from these companies’ revenue. In return, Ireland provides the companies with supportive tax and regulatory frameworks that benefit the aviation sector. The research on this topic explores different ways aircraft leasing contributes to airline efficiency through cost reductions and fleet modernization while minimizing financial risks associated with aircraft acquisition by utilizing computer programs. Operational modeling has become an essential tool for …

Internationalization And Investment Efficiency, Alireza Askarzadeh, Kenneth Yung

Graduate Student Government Association Research Conference

Conflicting results in the literature regarding the effect of internationalization on firm performance motivate this study to examine this effect through an important but less studied channel. Unlike previous literature mainly focusing on the impact of internationalization on firm financial performance, this study examines operational performance and probes how internationalization affects firms’ investment inefficiency, thus demonstrating an important aspect in determining the success of international strategies. By applying the concepts of transaction cost economics and agency theory to a sample of US firms between 1989 and 2022, we find evidence that internationalization has a positive relationship with investment inefficiency and …

Cross Country Analysis Of Leveraged Loan Issuance: A Comparative Case Study, Cristina D. Vasquez Boero

Honors Program Theses

This paper aims to examine the dynamics of the global leveraged loan market through a cross-country analysis of 32,635 loan issuances spanning 133 industries across 29 countries between 2005 and 2024. The study analyzes key loan-level variables; including commitment size, maturity time, facility type, pledge status, priority lien, economic sector, use of proceeds, issue year, and amortization schedule to identify cross-country variation in loan issuance patterns and borrower characteristics, comparing a selected sample of international countries with the United States. The results reveal that the market for leveraged loans has grown significantly over time, specifically due to a higher frequency …

Vale Strategic Audit, Nikolas Mancio

Honors Program: Senior Projects (Public)

The Chinese government is critical in shaping the global mining and metals industry, specifically for companies like Vale S.A., the world’s largest iron ore and nickel producer. China’s dominance as the largest importer of iron ore significantly impacts commodity prices and demand, with its government exerting substantial influence through production quotas, infrastructure spending, and environmental regulations. Vale’s strategic position in the Chinese market is a cornerstone of its operations. It is supported by investments in distribution centers, blending facilities, and high-grade iron ore that align with China’s environmental goals. However, this reliance also makes Vale vulnerable to shifts in Chinese …

The Reception Of Anglo-American Contractual Standards In Selected Droit Civil Systems: German And Polish Examples., Dr. Pawel Mazur, Dr. Hab. A. Szlęzak

Loyola of Los Angeles International and Comparative Law Review

The reception of Anglo-American contractual standards in droit civil countries is not as straightforward as it would seem at first glance. The language expressing notions such as “breach of contract,” “representations & warranties,” or “indemnities” cannot be merely copied into agreements subject to the law of droit civil countries. They need to be transposed thereto, i.e., rendered in terms of legal institutions characteristic of the legal systems of such countries, to achieve the same functional results as those achievable in the place of origin of such notions.

The authors discuss the process of such transposition in the examples of Germany …

Bidding Strategy For A Wind Power Producer In Us Energy And Reserve Markets, Anne Stratman

Department of Electrical and Computer Engineering: Dissertations, Theses, and Student Research

Wind power is one of the world's fastest-growing renewable energy resources and has expanded quickly within the US electric grid. Currently, wind power producers (WPPs) may sell energy products in US markets but are not allowed to sell reserve products, due to the uncertain and intermittent nature of wind power. However, as wind’s share of the power supply grows, it may eventually be necessary for WPPs to contribute to system-wide reserves. This paper proposes a stochastic optimization model to determine the optimal offer strategy for a WPP that participates in the day-ahead and real-time energy and spinning reserve markets. The …

Initial Financial Assessment Of The Fraport Greece Cluster A Concession, Dimitrios V. Siskos, Alexander Maravas, Ronald Mau

International Journal of Aviation, Aeronautics, and Aerospace

There is a worldwide trend in the privatization of transport infrastructure and airports. Likewise, the Greek government launched an extensive privatization program that granted Fraport AG the right to operate 14 airports for the next forty years. The two separate concessions for clusters of seven airports each are named "Cluster A" and "Cluster B." The financial assessment of privatization contracts is crucial so decision-makers can accurately assess the value of aviation enterprises. This paper applies the Economic Value Added (EVA) methodology and enterprise valuation on Cluster A by assessing the concession company's balance sheets and income statements. We concluded that …

Market Reaction Test On Banks & Brokers Based On Bitcoin Price History. A Look At National Commercial Banks And Security Broker, Exchanges, And Service Stocks Following The Most Volatile Swings In Bitcoin’S Price., Payton Earl

CMC Senior Theses

This paper examines if there is an inverse correlation between Bitcoin’s most volatile price swings and national commercial banks and security brokers, exchanges and service companies performance. Company performance in the dataset is measured by Cumulative Abnormal Returns during 2021 within a two-day period where Bitcoin has had the most significant uptick and downtick events. Using a market-adjusted model for my regression, it is concluded that Bitcoin’s largest uptick event did indeed have an inversely negative effect on traditional banks and trading securities companies, as the Cumulative Abnormal Returns were negative for my 107 observations and the event was statistically …

International Diversification And Stock-Price Crash Risk, Alireza Askarzadeh, Mostafa Kanaanitorshizi, Maryam Tabarhosseini, Dana Amiri

Finance Faculty Publications

Despite the recent proliferation of research on internationalization, little attention has been paid to understanding the reasons behind the decrease in firm value accompanying international expansion. By delving into the underlying mechanisms and applying the concept of agency theory to a sample of US firms spanning from 2000 to 2022, we posit that an increased level of information asymmetry in internationally diversified firms incentivizes managers to prioritize their own interests. To protect their careers, CEOs of internationally diversified firms often suppress bad news. This behavior can lead to the accumulation of negative news and heighten the risk of a stock-price …

Management Of Operations In Projects Including Planning, Organization And Control From The Beginning To The End Of Implementation, Burim Isa Berisha Dr.Sc

International Journal of Business and Technology

The project usually arises as soon as the client’s need is identified, and goes through all the extensive phases and sub-phases to take its true form and put into operation. The project is divided into two main parts that include Planning and Implementation that are separate in these stages: definition, planning, organization, control, completion. Planning involves a detailed calculation of the project. This includes known facts, admissible facts and risk calculation. Activity model used by IKOMs Planning as a process involves the cost that accompanies it. The manager must strike the balance between cost and benefit. Project control uses data …

Project Planning And Control, Burim Isa Berisha Dr.Sc

International Journal of Business and Technology

Operations management is important because it relates to the creation of products and services on which we are all dependent. Operations management is also quite motivating; operations are the center of many changes that affect business - changes in customer preferences, changes in the supply chain caused by technologies based on the businesses where we work, where we want to work and so on.

Operations Management includes the role of operations management, the various characteristics of processes, management activities, the responsibilities of managers, and the timely evolution of Operations Management.

Operations Management is a constant change, fostering creativity which allows …

Management Of Small Enterprises And Family Businesses In The Republic Of Kosovo, Burim Isa Berisha Dr.Sc, Burim Berisha B.B

International Journal of Business and Technology

Small businesses represent the driving force of an economy. They are the key that enables the production and marketing of thousands of products and services thus becoming the basis for a sound economic development. Consequently, small businesses are of vital importance to the economy.

Small business is a generator of innovation and a source of new jobs. The trend shows that small businesses are the backbone of all developments and movements in the economic system.

The small business scope is present in almost every pore of social and economic life.

According to the Statistical Register for Businesses, there are 9,358 …

The Process Of Adapting Innovations In Banking Services By Businesses In Kosovo, Burim Isa Berisha Dr.Sc, Burim Berisha B.B

International Journal of Business and Technology

This dissertation addresses the importance of a business model from businesses in Kosovo, which is able to adapt innovations from the banking sector such as digital services, and through which become part of a global market where such developments occur step by step. very fast At the beginning of this paper will be given definitions related to the main concepts that are addressed such as business model, innovations in banking services - digitalization of services and the role and importance of linking a business model with banking services of the time. After the theoretical part, from which the main concepts …

Endogenous Market Choice, Listing Regulations, And Ipo Spread: Evidence From The London Stock Exchange, Hafiz Hoque, John Doukas

Finance Faculty Publications

This study examines the endogenous market choice and its impact on underwriter spread if Alternative Investment Market (AIM) IPOs that meet Main Market (MM) listing requirements had issued equity in the MM during the 1995–2021 period. We find that the spread is 1.33% higher in the AIM than the MM for IPO listings that meet the MM listing requirements. This finding suggests that AIM companies, meeting the MM listing requirements, could have saved more than £100 million by going public through the MM than the AIM market. We also find that this spread differential is attributed to the issuing firms' …

Productivity Performance Of Steel Companies In India:A Comparative Study Of Tata Iron & Steel Company Ltd And Essar Steel Company Ltd, S Vanitha, M. Babu, Dr. M Selvam

Management Dynamics

No abstract provided.

An Analysis Of Impacts Of Covid-19 On Salary Cap Allocation And Performance In The National Football League, Abai Houser

CMC Senior Theses

Professional sports are one of the most successful industries in the world. The live spectacle and in-person nature make sporting events a unique and individual experience. COVID-19 shifted how athletic events were operated, financed, and viewed, thereby changing leagues as well. The National Football League was one of the last sports to start its season during 2019 and 2020, setting the stage as the only league to not isolate its players in a safe operating space. This paper studies the effects of COVID-19 on the salary cap management of teams after the pandemic. The findings suggest that financial metrics analyzed …

Proceedings Of The Global Conference On Services Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte

University of South Florida (USF) M3 Publishing

This is the second volume of the Global Conference on Services Management Proceedings Series.

ISSN: 2641-5062

Advances In Global Services And Retail Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte

University of South Florida (USF) M3 Publishing

This is the second volume of the Advances in Global Services and Retail Management Book Series. This volume has the following parts:

• Part 1: Hospitality and Tourism
• Part 2: Marketing, E-marketing, and Consumer Behavior
• Part 3: Management
• Part 4: Human Resources Management
• Part 5: Retail Management
• Part 6: Economics
• Part 7: Accounting and Finance
• Part 8: Sustainability and Environmental Issues
• Part 9: Information Technology

ISBN: 978-1-955833-03-5

Hospitality and Tourism

• Significance of VR in the spa: A spatial analysis
  • Irini Lai Fun Tang, Schultz Zhi Bin Xu, and Eric Chan
• Social media marketing in rural hospitality and tourism destination research
  • Samuel …

Evaluating Methods Of Calculating Country-Specific Market Risk Premium, Lora Taylor

Finance Undergraduate Honors Theses

In this paper I will discuss three different methods for calculating country specific market risk premium will be discussed. The methods that will be discussed are that of a historical moving average, Aswath Damodaran’s method, and the methodology and survey results from Pablo Fernandez. The weaknesses of the different methods will also be discussed. Additionally, the CAPM model of valuation will be explained as well as the three different concepts that are used interchangeably under the term market risk premium.

The Adoption Of Cryptocurrency Technology Into The Us Banking Infrastructure, Trevor Melito

Senior Theses

This thesis examines the possibility of using Blockchain technology to permanently change the payment structure of the US banking system. First, I examine the current technology that dominates the banking sector. I introduce the most frequently used payments methods including Automatic Clearing House transfers and wire transfers, both domestically and internationally. In addition, I highlight the major players controlling these transactions. Under the current system, frictions between senders and receivers cause billions of dollars in losses each year.

Next, I examine Blockchain’s roots along with some similar cryptocurrency technology, namely Distributed Ledger Technology and Smart Contracts. The transparency, security, and …

The Impact Of American Economic Aid On Post-World War Ii Germany, Gabriella Barber, Emily T. Carlstrom

Senior Theses

This paper examines the state of Germany immediately after World War II, describing how the American government intervened in West German reconstruction. It analyzes three specific German companies that overcame hardship in the 1940s and 50s and have become powerhouses today. Additionally, an overview of the current German economy shows how the country is positioned as a world leader.

Research was conducted using literary print sources, scholarly internet databases, and a formal interview with Klaus Becker, Honorary Consul to Germany. He is a German-American businessman who has held roles in several non-political associations, including President of the Charlotte World Trade …

Harmonizing The Disjointed: Economic Integration And Risk Sharing, Samuel Acheampong

Theses and Dissertations--Economics

This dissertation consists of three essays examining the role of risk diversification in European markets. At the economy level the first two essays seek to identify whether economic integration efforts among European countries result in sharing risks to consumption with regional neighbors, as opposed to global partners. At the firm level, the third essay seeks to understand whether managers of large companies in the United Kingdom choose less financial leverage if they are specifically compensated with more cash bonus as opposed to other forms of performance incentives.

In Essay 1, I assess the extent to which European countries diversify consumption …

Supporting The Changing Practices Of Teaching In Business At Queens College, City University Of New York, James Tasato Mellone, Edward F. Wall Iii, Qiong Xu

Publications and Research

This investigation sheds light on the teaching practices of Queens College (QC) faculty in Business. It identifies the Business faculty’s teaching support needs in order to develop ideas for improving Library services to them. This report is the result of research conducted under the guidance of Ithaka S+R, and in accordance with Office of Regulatory Compliance procedures at QC. Using a grounded theory approach to qualitative research, the investigators conducted in-person audio-recorded semi-structured interviews of seven full-time QC faculty who teach Business courses. Evidence derived from the transcribed interviews informed analysis of the current state of QC’s Business teaching experience, …