Social and Behavioral Sciences Commons^™

Assessing The Probability Of Bankruptcy, Jarom Heaps

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

Knowing whether or not a company is financial stable has always been a top concern for analysts and money managers. This paper compares the effectiveness of default prediction using two different types of measures: accounting and market based. Accounting measures have been the most popular even though, according to theory, a market based measure reflects all available information. Theory goes as far to say that accounting measures can add no incremental value to a market based measure. In my research I found that accounting based measures can be effective in their predictive power; the market-based measure (BSM) results were much …

Three Essays In Trade And International Development, Nii Amon Neequaye

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This dissertation studies how society views corruption at different stages of economic development. It develops a theoretical framework that shows that at low levels of income or development, corruption increases and at high levels of income and development, corruption decreases. This theoretical proposition is also investigated empirically. The empirical analyses support the proposed theory and hint that fiscal policy, socioeconomic conditions, and incidences of war play significant roles in determining a country’s corruption level.

In addition, this dissertation also explores the relationship between merchandise and service trade. I show theoretically that the two are related and determined simultaneously. An empirical …

Women, Higher Education, And The Labor Market: A Cross-Cultural Understanding Of The Impact Of Religion, Allison Fife Hale

Undergraduate Honors Capstone Projects

How do deeply-held cultural perspectives shape the desire and ability of women to pursue higher education and or careers? More specifically, how do predominant religious and cultural perspectives on the family, the role of women, and the role of education influence a woman's decision to obtain higher education and her perceived ability or desire to seek full-time employment upon graduation? To answer these questions, this research utilized a cross-cultural survey instrument to compare and contrast the perceptions of female, undergraduate students in one predominantly Muslim/Middle Eastern society -- Dubai, U.A.E -- and one predominantly Mormon/Western society -- Utah, U.S.A. We …

How Does Untimely Death Of An Executive Affect Stock Prices And Company Performance?, Yu Zhang

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

The main purpose of this project is to investigate if the sudden death of an executive will affect the company’s stock price and/or performance, and to examine any other impacts of an executive’s untimely death. Are executives the most important person in a company? If so, how much is an executive worth in comparison to the company’s overall value? Is a CEO’s pay actually worth what the company is getting in return? Many researchers believe that the CEO and executives are the soul of a company, however, there is limited evidence to prove that hypothesis (Fama and Jesnsen, 1983). There …

The Idiosyncratic Volatility Puzzle: A Behavioral Explanation, Brad Cannon

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

The trade-off between risk and return is a fundamental principle in finance. In any finance class, one will likely hear the phrase, “the greater the risk, the greater the return.” The Capital Asset Pricing Model (CAPM), one of the most basic and well-known finance models, estimates the expected return of an asset assuming a positive relation between expected return and a single risk factor. Empirically, risk control variables such as the CAPM beta along with other risk factors associated with market cap, book-to-market ratio, and illiquidity are used when pricing assets. Finance is abundant in theories all supporting positive risk-return …

Decimalization And Illiquidity Premiums: An Extended Analysis, Seth E. Williams

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

In this study I compare the illiquidity premium related to the bid–ask spread before and after the 2001 change to decimal pricing for New York Stock Exchange (NYSE) and Nasdaq stock exchanges. Theory predicts a contraction of the bid-ask spread with a move to more precise pricing, and this association is shown. A disparity between the NYSE and Nasdaq exchanges due to decimalization is shown. A portfolio analysis based on the relationship between the bid-ask spread and next month returns is back-tested, revealing a significant and positive risk-adjusted return for holding the portfolio of stocks with the highest bid-ask spreads. …

An Empirical Analysis Of Customer Satisfaction In Short Selling, Brian Ramaeker

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

Using an event study along with basic linear regressions, this paper sets out to find if customer satisfaction factors into asset pricing, and if short sellers predict or react to the announcement, then capitalize on the mispricing. By using customer satisfaction data from the ACSI index and security pricing data from WRDS it is possible to test whether the absolute level of customer satisfaction factors into a short selling investor’s actions within the market, or if an increase or decrease in satisfaction from the previous year is recognized by short sellers.

Climate, Latitude And Wealth, Trevor Greg Stringham

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

So many of the world's most impoverished nations are found in warm climate regions that some economists have referred to "tropical" as synonymous with "underdeveloped". In this paper I study the difference in GDP per capita throughout the world based on latitude, and show that there is a significant, positive correlation between distance from the equator and GDP per capita. I find that consumption is different in wealthier countries and that these differences are correlated with latitude. I use these differences in consumption as a new approach to evaluating the problem of what causes temperate climate nations to be rich …

Investment Performance Of Common Stock In Relation To Their Price-Earnings Ratios: Basu 1977 Extended Analysis, Jordan R. Tilley

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

In this study, the work of Basu 1977 is partly replicated using subsequent market data. A trading strategy of investing in assets based on their price-earnings ratio is back-tested, thus also testing the efficient market hypothesis. Market data over the past twenty-five years (1989-2014) was gathered, cleaned, and modeled to test for unexplained return to five portfolios ranked by PE ratio. The data was tested using the single-factor Capital Asset Pricing Model and the Fama-French three-factor model. The dataset was then decomposed by price and similarly modeled to test whether the effectiveness of using PE as a leading indicator is …

Discussing Economic Factors' Effects On Personal Saving Rate, Zhong Wang

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

Business capital and investment are increasingly moving abroad as globalization occurs, and worldwide economic integration is accordingly strengthened. The extremely low personal saving rate in the United States and the extremely high personal saving rate in China are always a concern for economists. This project uses data from the United States and economic and econometric methodologies to analyze and discuss several economic factors that affect the U.S. personal saving rate. The result shows that the housing and stock market booms, an increasing interest rate, and a decrease in the ratio of workers to retirees cause the decrease in personal saving …

Spatial Temperature Variation In Refrigerated Road Transport, Joseph D. Phoenix

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This study evaluated the temperature variability that existed in refrigerated table grape consignments over a two-day journey from two suppliers in southern Spain, to client managed facilities in England. In order to inhibit senescence, perishable foods are transported in temperature-controlled transport to maximize shelf life. However, thermal dynamics suggests that uniform spatial temperature is not necessarily achieved despite a constant set point. As fruit exposed to suboptimal temperatures is more likely to exhibit undesirable quality issues, knowledge of spatial temperature can direct quality control team members to these potentially problematic pallets within an inbound shipment.

Warmer temperatures were identified on …

Analysis Of Portfolio Diversification And Risk Management Of Livestock Assets In The Borana Pastoral System Of Southern Ethiopia, Medhat Ibrahim

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Ethiopia is one of the poorest and most populated countries in the world. It is also one of the largest receivers of foreign aid in the world. The Borana Plateau in the Oromia region is one of the poorest regions in southern Ethiopia. The local population in this region has relied on livestock for their livelihood for many generations. The growing number of humans and livestock on the Borana Plateau has caused the rangeland to be degraded. Coupled with more frequent and severe droughts, this growth can cause the loss of a large number of the livestock in this region …

The Poverty Of Prefectures: A Reevaluation Of The Memoir Of Zhang Daye, Joshua Defriez

Undergraduate Honors Capstone Projects

Everything today's readers know about the man Zhang Daye comes from his memoir, The World of a Tiny Insect (Wei Chong Shijie, 微蟲世界). The manuscript was distributed locally after its completion in 1894, though it never achieved wide-scale circulation. Wang Yongyuan of Zhejiang Normal University donated the only complete copy to the Chinese Academy of Sciences in the early 1950s where Harvard scholar Xiaofei Tian later discovered the manuscript. Since Tian's publication of an English translation in 2013, Zhang's writings have reached a wider audience than he likely ever imagined. As we read The World, Zhang's words …

Exploring The Relationship Between Utah's Wages And Utah's Real Estate Values, S. Scott Laneri

Undergraduate Honors Capstone Projects

This paper uses a variety of multiple regression analysis techniques to attempt to answer whether a direct relationship exists between Utah's employee wages and Utah's residential real estate values. Unexpected declines in real estate values can have seriously negative impacts on businesses, individuals, and local governments in Utah. Conversely, unexpected increases represent missed opportunities. Researchers have used various statistical and mathematical methods to explain or predict changes in real estate values, but no method has consistently predicted values for a long period of time or across multiple geographical areas. This paper focuses on exploring the relationship between variables in Utah …

The Affordable Care Act: Five Years Later, Andrew Dana Izatt

Undergraduate Honors Capstone Projects

The challenges facing the American health care system are well known and manifold. The United States pays substantially more for its health care than any other developed, industrialized nation. Per capita health care spending in 2012 was $8,745, up from $356 in 1970 without marked improvements in life expectancy, quality of life, or outcomes. But despite all of our health spending, large portions of our population go without health insurance. Being uninsured carries real consequences. A report published in the American Journal of Public Health, by researchers at Harvard Medical School, using statistics from the Centers for Disease Control and …

Improving Micro-Finance Productivity Through Data Analysis, Ryan D. Taylor

Undergraduate Honors Capstone Projects

After nearly three months of gathering, creating, organizing, and analyzing data from social entrepreneurship programs in Peru and Ghana, correlations have been found within the data which may be used in the pursuit to eliminate poverty around the globe. These correlations were found through completing both linear relationship analyses and multi-variable regression analyses. The most statistically significant factors when looking at correlational relationships with number of missed and late payments were APR, loan duration, loan date (year fraction), gender or principle loan participant, and participation in incentive programs. The most poignant of these variables in terms of statistical significance was …