Finance and Financial Management Commons^™

Tourism Dependency: Prosperity Or Precarity, Samson Eby

Finance Undergraduate Honors Theses

Tourism Dependency: Prosperity or Precarity

Is being tourism dependent in a developing country a beneficial tool to use to grow economics

The Long Tail: Business Viability After The Crisis, Emma M. Woo-Ming

Economics Undergraduate Honors Theses

This thesis examines the barriers to business growth and youth development in Dangriga, Belize, within the broader context of post-crisis economic recovery. Despite Belize’s record-breaking tourism arrivals in 2024, Dangriga has not experienced parallel growth, hindered by limited government support, insufficient infrastructure, and gaps in workforce readiness. Through field research, stakeholder interviews, and the development of tailored business strategies, this project identified critical needs in risk assessment, collaboration, and youth engagement. The findings underscore the interconnectedness of politics, culture, and economics in shaping local business ecosystems, and highlight the importance of adaptable, context-specific solutions over the direct application of models …

Investigating The Impact Of Artificial Intelligence On Financial Decision-Making And Professional Practice, Elijah Jones

Finance Undergraduate Honors Theses

The following study is an investigation into the impact of artificial intelligence (AI) as it relates to financial decision-making and professional processes. The focus of the study is to address the gap between theoretical applications analyzed by researchers and real-world use. The existing literature extensively analyzes the exponential growth of AI in finance over the years and its uses in relationship management, predictive analysis, trading, risk management, and more. While the studies show the potential transformative capability that AI has regarding workflows, there is limited data that shows how these newfound technologies are actually being adopted by professionals. To address …

Diving Into Commercial Banking: Internship Experience At Hilborn & Howell, Llc, Reid W. Finch

Finance Undergraduate Honors Theses

This paper attempts to provide insight into the commercial banking industry through personal experience and the help of high-level lending professionals.

An Explanation Of Alternatives Within A Portfolio, Isaac J. Reitman

Finance Undergraduate Honors Theses

This thesis attempts to provide insight into the role of alternative investments within modern portfolio construction for accredited and institutional investors.

The asset classes discussed are as follows: private credit, private equity, venture capital, hedge funds, collectibles, and real estate.

Identifying And Evaluating Valuation Drivers In Upstream Oil And Gas M&A: A Comparative Analysis Of The Pedevco-Juniper Transaction, John D. Schick

Finance Undergraduate Honors Theses

This thesis examines the valuation drivers in small-cap upstream oil and gas M&A, using the November 2025 PEDEVCO–Juniper Capital transaction as an anchor case against comparable DJ Basin acquisitions from 2018 to 2026. Drawing on SEC filings and EIA pricing data, the analysis standardizes deals across $/flowing barrel, reserve mix, liquids exposure, and commodity environment. Regression testing shows that daily production scale is the dominant driver of total enterprise value, while oil weighting and PDP-heavy reserves command per-unit pricing premiums; short-term WTI and Henry Hub prices show little explanatory power. PEDEVCO–Juniper's moderate scale, 77% oil weighting, and PDP-heavy profile place …

The Erosion Of The Middle Class In The United States From 2008-Present: A Financial Perspective, Evan M. Kilmer

Finance Undergraduate Honors Theses

This thesis examines the erosion of the middle class in the United States from 2008 to the present from a financial perspective, specifically focusing on the interconnection between household debt, asset affordability, and income growth. The 2008 financial crisis sparked a period of expansionary monetary policy, which aided the recovery of asset prices and equity markets. However, these gains have far exceeded real wage growth for middle-class households, which has resulted in a widening gap in affordability. As these citizens struggle to maintain consumption habits and access to goods and services associated with upward mobility, mortgages, student loans, and consumer …

Integrating Data Analytics: Exploring The Best Methods To Evaluate Players’ Performance To Help Gain A Competitive Advantage On The Football Field, Tanner F. Fountain

Finance Undergraduate Honors Theses

To succeed in the world of sports, leaders need to uncover and utilize any advantage possible in order to gain a competitive advantage over their competition. I discuss how leaders of a sports organization, specifically within the Arkansas Razorback football program, implement the use of analytics on and off the field, as well as how they use their data to create visuals, find potential strengths and weakness, and ultimately help them be more prepared for gameday. Using my personal experience as a Student Analyst for the Razorbacks, along with supplementary information, I share the latest tactics and the strategies for …

How Perceived Political Uncertainty Affects Markets: An Investment Analyst’S Reflection, Avery W. Jacobs

Finance Undergraduate Honors Theses

This paper explores the relationship between political uncertainty and financial market behavior, offering reflections based on personal experience as an Investment Analyst at an RIA. It discusses key events and highlights how market perceptions can dramatically influence financial markets. It highlights how an organization can overcome challenges and serve clients in uncertain times.

Commuting Patterns And Use Of Bus, Cycling, And Walking In Small And Medium-Sized U.S. Cities: An Analysis Of Demographic Influences, Bun Song Lee, Alejandro Pacheco, Dalton Oxford, Troy Rodriguez

Finance Faculty Publications and Presentations

Using 2015-2019 American Community Survey block-group data, we study commuting by bus, cycling, and walking in small and medium-sized U.S. cities, where auto-centric urban form raises equity concerns. We center the analysis on supply as well as demand by asking whether service is present where vulnerable residents live. Three results stand out. First, scarcity is pervasive: more than 70 percent of block groups report no bus commuters, indicating widespread transit deserts. Lack of a household vehicle strongly predicts non-automobile commuting and is tightly correlated with the share of very low-income households. Second, relationships vary with network coverage. In both the …

Social Connections And Capital Allocation In Multidivisional Firms, Tomas Jandik, Tatiana Salikhova

Finance Faculty Publications and Presentations

The inefficiency of internal capital allocation is considered one source of losses due to diversification. We use a hand-collected sample of divisional managers in S&P 500 industrial conglomerates and find that social connections among divisional managers are associated with capital allocation improvements. Segments' investments become more sensitive to segments' growth opportunities when these segments are led by better-connected managers. For connected managers, the probability of being assigned to a segment with low investment opportunities increases significantly with investment opportunities of connected segments. Firm-level connectedness is associated with higher firm values primarily in firms with high diversity in segment investment opportunities, …

A 360 Perspective About Corporate Finance, Braden C. Fancher

Finance Undergraduate Honors Theses

This thesis provides a comprehensive reflection on the author's experience in the “Finance 360” rotational internship program at Burns & McDonnell, a program designed to expose interns to the diverse functions within a corporate finance and accounting department. Over the course of 10 weeks, the author completed 12 different rotations, gaining hands-on experience across various financial disciplines. This paper highlights five rotations—Operational Financial Analysts, Financial Analytics, Internal Audit, Project Accounting, and Investments—that had the greatest impact on reshaping the author’s understanding of corporate finance. These experiences revealed the deep integration of finance with accounting, analytics, and strategic decision-making, far beyond …

Comparative Analysis Of The Community Reinvestment Act And The B Impact Assessment, Ella G. Claborn

Finance Undergraduate Honors Theses

This thesis presents a comparative analysis of the Community Reinvestment (CRA) and the B Corp Certification through the B-Impact Assessment (BIA). The CRA was enacted in 1977 and is a mandatory regulatory measure aimed at addressing discriminatory lending practices and encouraging equitable credit distribution in underserved communities. In contrast, the BIA is a voluntary assessment developed by the nonprofit B Lab to evaluate a company’s social, environmental and governance practices, which lead to B Corp Certification. This analysis explores the historical background, mission, methodology, success metrics and financial costs associated with each framework. Ultimately, this thesis highlights how both models, …

The Role Of Social Media In Shaping Investment Trends Among College Students, Catherine C. Hammer

Finance Undergraduate Honors Theses

Social media has become an increasingly influential force in shaping financial behaviors, particularly among younger generations. This study examines the role of digital platforms in financial education, investment decision-making, and market participation among Gen Z and Millennials. Through a comprehensive analysis of existing literature, case studies, and survey data, this research explores the benefits and risks associated with relying on social media for financial guidance. While social media provides unprecedented access to financial knowledge, empowering young investors with real-time market insights and investment strategies, it also presents challenges such as misinformation, speculative trading behaviors, and the rise of unregulated "finfluencers." …

Decoding Oncology-Focused Biotechnology Firms: Lifecycle Analysis And Predictive Insights For Valuation From A Junior Associate's Perspective, Kesav P. Chandrasekhar

Finance Undergraduate Honors Theses

Oncology-focused biotechnology firms present unique valuation challenges due to high R&D costs, long development timelines, and uncertain clinical outcomes. This thesis addresses such challenges by integrating the clinical development lifecycle with financial valuation models to provide predictive insights into company value. A structured framework is developed that primarily focuses on stage-specific probabilities of success (PoS) for drug candidates and their impact on firm valuation, embedded in techniques such sum-of-the-parts (SOTP) analysis. By quantitatively linking clinical trial phases and likelihoods of approval to cash flow projections, the model enables a more realistic, risk-adjusted estimation of a biotech firm's worth. Through lifecycle …

The Influence Of Political Uncertainty On Financial Markets During U.S. Elections: A Comprehensive Analysis, Ryan Hale

Finance Undergraduate Honors Theses

This thesis examines the impact of U.S. presidential elections on financial market performance, focusing on volatility, investor behavior, and market returns. Political uncertainty during election years often triggers market fluctuations, influencing investor confidence, policy expectations, and sector-specific reactions. By analyzing historical election-year data, this study identifies consistent patterns of increased volatility, shifts in investor sentiment, and post-election market stabilization. Findings suggest that while short-term uncertainty affects market behavior, long-term investment strategies should prioritize broader economic trends over election-driven fluctuations. These insights provide practical guidance for investors navigating politically uncertain environments.

Treasury Analysis & The Digital Divide, Alivia Shaver

Finance Undergraduate Honors Theses

This paper outlines the daily tasks of a Treasury Analyst Intern and highlights the problematic issues that arise from the digital divide in the telecommunications industry.

Garver, Lucas G. Ortiz

Accounting Undergraduate Honors Theses

This thesis is a summary of my two-year internship at Garver, an engineering firm headquartered in North Little Rock, Arkansas. I interned with the finance department in the North Little Rock office. During my time with Garver, I gained an abundance of technical experience in the accounting field, as well as invaluable networking and professional development skills.

Corporate Crisis Management: A Contemporary Best Practices Template, Vivek Narayan

Finance Undergraduate Honors Theses

This paper seeks to re-envision the crisis management framework used by organizations in their day-to-day activities. In the modern world, with exponential technological advancements, the social media age, and the 24/7 news cycle, crises have worsened in severity. Despite this, most literature on the subject is more than a decade old.

Incorporating past literature, this thesis demonstrates that society is in an “era of crises,” then defines and discusses the types and origins of these crises. It compares the topics of issues and crisis management before commentating on corporate and academic literature and ultimately previous 3-stage models for crisis management. …

2023 Community Bank Case Study Competition, Joseph Kelly

Finance Undergraduate Honors Theses

We studied a community bank in Danville, Arkansas named Chambers Bank. This was part of a 2023 Community Bank Case Study Competition, which illustrated the financial analysis, staffing, and training of the bank. We learned about technology implemented into the bank, and how the bank works with customers locally to ensure the best quality care.

Dreams And Livelihoods In Rural Areas Require Capital, Too: An Investigation Into The Role Of Diminishing Community Banks, Financial Education, And Access To Capital In Rural Areas, Jackson Walton

Finance Undergraduate Honors Theses

Individuals in rural communities face unprecedented economic challenges due to a lack of financial education and a decline in the prevalence of community banks. These problems have continuously grown exponentially without successful attempt at remedy. The community banks that once served as the center of economic activity and prevalence in rural communities are leaving these communities quickly- leaving many without access to lines of credit, personal relationship banking, and without necessary financial education in a world with more financial options than ever. Access to banking and higher financial literacy proficiency rates are almost directly linked to better financial outcomes like …

Financial Consulting Internship In Valencia: Alternative Investments And Ai, Mason Sidney Rike

Finance Undergraduate Honors Theses

During the summer before my senior year, I had the opportunity to work as a research analyst in the finance department of TuaTeam, a financial and strategic consulting firm in Valencia, Spain. TuaTeam is a relatively new firm that serves its clients in a wide range of areas, from strategic restructuring and business model development to finding funding for future projects and identifying/evaluating potential investment opportunities. TuaTeam also works closely with communities around Spain to foster innovation and development among youth and professionals seeking to gain experience in new trends in technology and cultural enrichment. The company currently holds classes …

2023 Community Bank Case Study Competition, Alivia Brewer

Finance Undergraduate Honors Theses

Study of Chambers Bank, located in Danville, Arkansas for the 2023 Community Bank Case Study Competition. This paper covers financial analysis, training and technology, as well as staffing.

Moving Forward: Automating A Walmart Executive View From Existing Manual Financial Systems, Alexandra Rosen

Finance Undergraduate Honors Theses

Walmart, the largest retail giant globally, is a company that needs no introduction. Headquartered in Bentonville, Arkansas, it has become synonymous with retail innovation and efficiency. Last summer, I had the unique opportunity to immerse myself in Walmart’s culture and the world of finance and accounting through Walmart's Accounting and Finance Development Program (AFDP) internship. This analysis examines my summer in the program and applies my experience to the importance of in-person office work.

Exploring Growth: A Multifaceted Approach To Development In The Stann Creek District Of Belize, Brady A. Voss

Finance Undergraduate Honors Theses

This honors thesis delves into the multifaceted approach to development within the Stann Creek District of Belize, as undertaken by the Ministry of Agriculture (MOA) in collaboration with the international non-profit Peacework. Authored by Brady A. Voss under the guidance of Dr. Amy Farmer, this research is a culmination of efforts aimed at enhancing economic growth and sustainability in the region.

The thesis begins by outlining the author's involvement in three primary projects during a summer internship in 2023: assessing market awareness of dragon fruit, estimating the cost of production for habanero peppers, and formulating a business plan for the …

Financial Literacy For Life: Mandating Financial Literacy In The Classroom, Avery Alford

Finance Undergraduate Honors Theses

This paper presents literature review and qualitative analysis of the need to mandate financial literacy courses at the high school level. It breaks down the importance of financial education and highlights the benefits in terms of confidence and mental health and its current state in the US with states that require the curriculum. Then it discusses the consequences on mental and physical health by studying the impact of cortisol, the “stress hormone”, within the scope of necessary policy change and in the context of country comparisons around the world. Next it provides counter arguments and objections that debate which classes …

An Analysis Of Bank Willingness To Decrease Deposit Fees, Madison E. Settlage

Finance Undergraduate Honors Theses

Bank deposit fees have been at the forefront of bank criticism for years, as many view them as being too severe and having a disproportionate effect on low-income customers. In recent years, there has been a strong push for declines in these rates. In this paper, I analyze banks willingness to decrease deposit fees using data from bank call reports over the 2017 to 2023 time period. Through statistical analysis, I find that various factors such as 2017 deposit fee level, ROA, total assets, average personal deposits, population, median income, and poverty rates are significant in determining bank fee levels …

Internship Experience At Dannah Investment Group, Llc, Isabelle Linkous

Finance Undergraduate Honors Theses

My internship and employment experience at a small investment management firm in Dallas, Texas, has been one of the most valuable components of my college career. Dannah has three rules at the heart of everything we do:

1. Make Money

2. Have Fun

3. Influence Others

The Value Of Cryptocurrency In An Efficient Portfolio, Bryn Taylor

Finance Undergraduate Honors Theses

With the recent approval of Bitcoin-backed exchange traded-funds, it is now easier than ever for mainstream investors to gain exposure to cryptocurrencies. This paper aims to employ the Markowitz efficient frontier model to determine the potential for cryptocurrency investment to increase the risk-adjusted performance of a diversified portfolio of stocks and bonds. The analysis finds that investors can expect a meaningful increase of 4.41% to the risk-adjusted performance of their portfolio when allocating 4.83% of their total investment to cryptocurrency. However, this potential increase is highly sensitive to cryptocurrency returns, volatility, and correlations to stock. As such, whether adding cryptocurrency …

Artificial Intelligence In Finance: Transforming Decision-Making And Risk Management For Enhanced Financial Outcomes, Bryce Layn

Finance Undergraduate Honors Theses

The impact of artificial intelligence on the financial sector is evaluated in this study, focusing on its management of financial risk capabilities and its role in creating tailored banking experiences. AI's rapid evolution has brought unprecedented capabilities, raising questions about human adaptability to these developments in finance. The thesis will conduct further research on how AI manages financial risks and navigates regulatory frameworks and potential mismanagement. Multiple companies will be investigated to showcase their diverse capabilities, with each one highlighting unique characteristics and contributions to the AI finance landscape. This Thesis presents a comprehensive summary of the evolving financial industry, …