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2011

CMC Senior Theses

Articles 1 - 30 of 81

Full-Text Articles in Social and Behavioral Sciences

A Natural Resource Curse: Does It Exist Within The United States?, Bryce Gerard Jan 2011

A Natural Resource Curse: Does It Exist Within The United States?, Bryce Gerard

CMC Senior Theses

In this paper, we examine data on U.S. GDP/Capita and natural resource share of GDP by state. We then run growth regressions and build on a previous model of dynamic equations to account for the spatial equilibrium that exists between U.S. states. Our results show that there exists evidence that overinvestment in oil and mining sectors has negative effects on state TFP growth, thus giving positive evidence for the existence of a natural resource curse between U.S. states.

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How Did The Extension Of The U.S. Dividend Tax Cuts In 2010 Affect Stock Prices?, Gayle Lim Jan 2011

How Did The Extension Of The U.S. Dividend Tax Cuts In 2010 Affect Stock Prices?, Gayle Lim

CMC Senior Theses

The efficacy of the 2001 and 2003 Bush tax cuts was a major topic of discussion in the 2010 midterm elections. I investigate the effect of the possible expiration and eventual extension of the dividend tax cut on US stock market performance in 2010 based on the methodology used by Amronin, Harrison and Sharpe (2008). I compare aggregate performance of US common stocks relative to foreign stocks using equity indices, and examine cross-sectional performance amongst US stocks by creating different stock portfolios based on their dividend yield. This comparison is done over two event windows, (1) 20-24 September 2010 and …

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Policy Analysis Of Rural Development Strategy In Mexico: Creation And Management Of Infrastructure Systems, Carlton J. Rueb Jan 2011

Policy Analysis Of Rural Development Strategy In Mexico: Creation And Management Of Infrastructure Systems, Carlton J. Rueb

CMC Senior Theses

This thesis explores rural development strategy in Mexico within the context of infrastructure development. It finds that although the tenants of decentralization and neoliberalism on which the strategy is based are conducive to gains in productivity, equity, and environmental sustainability in rural Mexico, the current government apparatus creates a number of market failures which limit the beneficial potential of the development strategy. Lessons learned from the Mexican experience should be applied in other contexts for development strategies.

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The High Costs Of Small Loans: Understanding Interest Rates In Microfinance, Benjamin W. Hudgens Jan 2011

The High Costs Of Small Loans: Understanding Interest Rates In Microfinance, Benjamin W. Hudgens

CMC Senior Theses

Version:1.0 StartHTML:0000000183 EndHTML:0000003190 StartFragment:0000002393 EndFragment:0000003154 SourceURL:file://localhost/Users/benjaminhudgens/Desktop/Final%20Thesis.docx This thesis will use data from 2009 to examine two questions about the Microfinance industry. First, why do firms charge interest rates well beyond their cost of funds and second, are there important differences at the national level that can help us to understand the high interest rates in Microfinance? I find that interest rates are primarily a result of operating expenses, but profit-status has large effects in developed Microfinance markets. I also find that the Economist Intelligence Unit’s measures of regulatory environment and industrial development explain a large portion of the variation in …

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Latino Political Power In California, Gustavo Adolfo Cubias Ii Jan 2011

Latino Political Power In California, Gustavo Adolfo Cubias Ii

CMC Senior Theses

California has now become a majority-minority state. Latinos, currently the largest minority group in the Golden State, have made remarkable political gains in the past two decades, more recently since the the approval of Proposition 187 in 1994. How have Latinos used this new political power? This thesis provides an in-depth look into the dynamics of the Latino political entity in California, along with a quantifiable analysis of voting trends. Discussion of policy implictions since the Latino wave into the state Legislature is also provided, along with interviews with notable Latino figures, such as Senator Art Torres and Redistricting Commissioner …

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Estimating The Effects Of Integrated Film Production On Box-Office Performance: Do Inhouse Effects Influence Studio Moguls?, Daniel M. Polyakov Jan 2011

Estimating The Effects Of Integrated Film Production On Box-Office Performance: Do Inhouse Effects Influence Studio Moguls?, Daniel M. Polyakov

CMC Senior Theses

Each year well over one billion movie tickets are sold to an audience who knows very little about what they are getting themselves into. Why is it that despite the uncertainty, people return to the theaters to see what Hollywood has in store for them? In efforts to provide answers regarding the driving forces behind Hollywood’s blockbuster hits, this study takes into account the integration levels of the studios. Specifically, does a movie produced in-house at a large studio have a better chance of being a blockbuster hit than one which is outsourced to an independent production company? Further, I …

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Energy Storage: Technology For A More Efficient Grid, Noah Proser Jan 2011

Energy Storage: Technology For A More Efficient Grid, Noah Proser

CMC Senior Theses

Energy storage technologies have the potential to revolutionize the electric grid by allowing for the integration of renewable generation while increasing the utilization and efficiency of current grid assets. These technologies include pumped hydroelectric storage, compressed air energy storage (CAES), flywheels, batteries, thermal energy storage (TES), super capacitors, and superconducting magnetic energy storage (SMES). While energy storage has been implemented in some areas, its benefits are greatly undervalued by current regulatory frameworks leading to suboptimal outcomes for grid operators, utilities, and ratepayers. Large-scale adoption of storage technologies will require regulatory frameworks that recognize the benefits of grid-scale storage across generation, …

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Blood Money: A Study Of The Effect Of Fighting On Player Salaries In The National Hockey League, Matthew G. Morton Jan 2011

Blood Money: A Study Of The Effect Of Fighting On Player Salaries In The National Hockey League, Matthew G. Morton

CMC Senior Theses

Fighting has been a centerpiece of the National Hockey League since it was formed in 1917. Although rules have been introduced regulating the physicality of play in the NHL, fighting is demanded—and encouraged—by fans and players alike. Fans have long been attracted to the violence of professional hockey; previous studies have documented that professional hockey is a “blood sport” that generates revenues with violence. This research investigates the effect of fighting on player salaries in the NHL, examining the way in which fighting has become a strategic element of the game, describing the way players enforce their own “Code” of …

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Managing The Millennials: Employee Retention Strategies For Generation Y, Nicholas W. Thompson Jan 2011

Managing The Millennials: Employee Retention Strategies For Generation Y, Nicholas W. Thompson

CMC Senior Theses

This paper provides a comprehensive analysis of Millennials' beliefs and attitudes and how that will affect their conception of the employer-employee psychological contract. This analysis should provide a greater understanding of how the childhoods of Millennials have affected their attitudes for life and career aspirations. Further, it explores retention strategies for workplace culture, management style, and growth and advancement.

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Does The Provision Of Healthcare Vary With Race? Evidence From Health Shocks To Patients Far From Home, Ajay Sridhar Jan 2011

Does The Provision Of Healthcare Vary With Race? Evidence From Health Shocks To Patients Far From Home, Ajay Sridhar

CMC Senior Theses

A vast literature acknowledges that minority groups, particularly African-Americans, receive less, and lower-quality treatment than Caucasians in U.S. health facilities. It remains an open question as to how much of this disparity is a result of poverty, and how much, a result of more overt discrimination. Former empirical studies are far from conclusive given the endogeneity of hospital quality, as minorities are overrepresented in areas served by poor health facilities. To remedy this endogeneity issue, we observe visitors to the state of Florida, as well as travelers within Florida. When an individual experiences a health shock far from home, her …

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Immigrant Experiences In The United States: The Murids Of Senegal In New York, Angelia R. Tyler Jan 2011

Immigrant Experiences In The United States: The Murids Of Senegal In New York, Angelia R. Tyler

CMC Senior Theses

This thesis explores West African Muslims in New York as a case study of the immigrant experience in America through discussion of the main theories of assimilation and modes of incorporation into American society. As foreign-born, black Muslims, the Murids of Senegal rely on cohesive social networks to protect themselves from discrimination. This thesis argues that through a process of “segmented assimilation” and reliance on the ethnic enclave, which provides a critical network of support, immigrants like the Murids of Senegal can better manage the challenges they face in the host environment and achieve upward social and economic mobility in …

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Powers Of War: President Versus Congress, Jordan D. Santo Jan 2011

Powers Of War: President Versus Congress, Jordan D. Santo

CMC Senior Theses

Before the United States Constitution was ratified there was much debate about what war powers the executive and legislative branches should hold. After much deliberation it was decided that the power to declare war would fall under the control of Congress. But as time passed, control over initiating military action began to shift from Congress to the President. This thesis examines the shift of power from the legislature to the President. The thesis explains the difference between a declaration of war, an authorization of force, as well as using the military as a police force. It examines the precedents set …

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Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh Jan 2011

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.

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Exploring The Flynn Effect: A Comprehensive Review Of The Causal Debate, Abby J. Trimble Jan 2011

Exploring The Flynn Effect: A Comprehensive Review Of The Causal Debate, Abby J. Trimble

CMC Senior Theses

Since its discovery in 1984, psychological investigators have continued to explore the Flynn Effect, the phenomenon of consistent and secular IQ gains within industrialized nations approximating 0.3 points per year. The most contentious debate within this field of research surrounds the purported cause of the Effect, and yet the research literature lacks a synthesis of the leading causal theories and the evidence supporting them. The principal hypothesized causal mechanisms – psychometric artifact, educational intervention, environmental changes, nutrition, genetics, gene-environment interaction model, medical improvements, and the multiplicity hypothesis – are reviewed and analyzed within the larger breadth of Flynn Effect scholarly …

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Emotional Brand Attachment: Marketing Strategies For Successful Generation, Katie Bilotti Jan 2011

Emotional Brand Attachment: Marketing Strategies For Successful Generation, Katie Bilotti

CMC Senior Theses

Modern society is structured around consumption. The climate of the current consumer culture is one of intense competition. In order to differentiate their brands and products, companies are beginning to focus on differentiating their brands on the basis of distinctive emotional, rather than functional, characteristics. Emotional brand attachment is defined as the bond that connects a consumer with a specific brand by involving feelings of affection, passion, and connection. When established, emotional brand attachment is a powerful tool for building brand equity and influencing the purchasing decisions of consumers. This paper explores the marketing tactics utilized by Dove brand and …

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A Theory Of Mental Credit, Jason Soll Jan 2011

A Theory Of Mental Credit, Jason Soll

CMC Senior Theses

Many philosophical subjects attempt to analyze the basis of human welfare. Theories of desert, distribution of property, and happiness tend to dominate philosophical discourse. Mental credit, which is the mental acquisition of credit for one’s accomplishments and the satisfaction one derives from this credit, is absent from this discourse despite its underlying role in the way people think about their lives. Mental credit is an eternal cognitive good that deserves thoughtful attention and pious decisions for implementation. The following theory of mental credit seeks to serve as a unifying theory for the mental calculations that guide life’s most imperative decisions, …

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Can The Monetary Integration Of Ecowas Improve Intra-Regional Trade?, Chinweuba E. Ezekwesili Jan 2011

Can The Monetary Integration Of Ecowas Improve Intra-Regional Trade?, Chinweuba E. Ezekwesili

CMC Senior Theses

A gravity model is used to evaluate the effects of currency union on intra-regional trade of ECOWAS (Economic Community of West African States) member states. The panel data used includes bilateral observations for fourteen years spanning 1994 through 2006 for 16 countries. Controlling for determinants and deterrents of trade, I find the presence of a currency union three times as likely to increase intra-regional trade between ECOWAS member countries. In addition, I find that the effect on trade creation has been steadily falling since 1994.

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America's First Great Moderation, Ryan Shaffer Jan 2011

America's First Great Moderation, Ryan Shaffer

CMC Senior Theses

This paper identifies America's first Great Moderation, a period from 1841-1856 of unbroken economic expansion and low volatility comparable to the Great Moderation of the 1980s-2000s. This moderation occurred despite a lack of central banks, low governmental spending, and barriers to interstate commerce during the antebellum period. I demonstrate this moderation in industrial production and stock market indexes and compare the first Great Moderation with the second in these economic factors. These results also call into question the conventional wisdom of the National Bureau of Economic Research business cycle chronology that the antebellum period was volatile and fraught with recessions. …

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Performance Of The Indian Banking Industry Over The Last Ten Years, Saumya Lohia Jan 2011

Performance Of The Indian Banking Industry Over The Last Ten Years, Saumya Lohia

CMC Senior Theses

This paper analyzes the performance of Indian banks over the period of the last ten years. It uses the CAMEL Framework to determine the performance of public and private banks in India. The paper also conducts an empirical analysis to determine the share price performance of Indian banks relative to the share price performance of banks in Hong Kong, Europe and the US. This paper finds that private banks perform better than public banks overall based on the CAMEL Framework. In addition it also finds that the Indian banks share price performance is dependent on the share price performance of …

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Past Financial Reporting Credibility: Does It Influence Market Perceptions Of Fair Value Assets?, Jason M. Rehhaut Jan 2011

Past Financial Reporting Credibility: Does It Influence Market Perceptions Of Fair Value Assets?, Jason M. Rehhaut

CMC Senior Theses

During the financial crisis, many assets became illiquid and ceased trading on the open market, thus classifying them as level three assets. This study attempts to determine whether fair value asset disclosures, especially level three assets, were viewed by the market as valued correctly, given the amount of subjectivity involved. This paper will discuss prior literature on the topics of fair value accounting, various earnings quality measures, and corporate governance impact on fair value disclosures. Using models similar to prior papers, many of the coefficients of interest proved insignificant. However, the models improved when examining only the least credible firms.

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Film Review Aggregators And Their Effect On Sustained Box Office Performance, Nicholas Krishnamurthy Jan 2011

Film Review Aggregators And Their Effect On Sustained Box Office Performance, Nicholas Krishnamurthy

CMC Senior Theses

This thesis will discuss the emerging influence of film review aggregators and their effect on the changing landscape for reviews in the film industry. Specifically, this study will look at the top 150 domestic grossing films of 2010 to empirically study the effects of two specific review aggregators. A time-delayed approach to regression analysis is used to measure the influencing effects of these aggregators in the long run. Subsequently, other factors crucial to predicting film success are also analyzed in the context of sustained earnings.

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Foreign Corrupt Bribery Act: Long-Term Benefits Should Outweigh Short-Term Burdens, Brian K. Gose Jan 2011

Foreign Corrupt Bribery Act: Long-Term Benefits Should Outweigh Short-Term Burdens, Brian K. Gose

CMC Senior Theses

The purpose of this thesis is to examine the Foreign Corrupt Practices Act. Specifically, do long-term benefits from the FCPA outweigh short-term burdens? The paper begins with a short Introduction that provides a roadmap for the overall thesis. Chapter I discusses the business and economic environment of America during the 1970s. Specifically, the focus is on the Watergate scandal and how it played a crucial role in the enactment of the FCPA. Chapter II explains and analyzes specific provisions of the FCPA. It also demonstrates the FCPA‟s relationship to the Securities and Exchange Act of 1934 and the Sarbanes-Oxley Act …

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Democratic Strength And Terrorism: An Economic Approach, Brian P. Winter Jan 2011

Democratic Strength And Terrorism: An Economic Approach, Brian P. Winter

CMC Senior Theses

There has been much literature about the economic effects of terrorism in democratic countries, but this literature often considers democracy to be a binary variable. This paper sought to explore how the effects might differ depending on the strength of a democracy. In the end, I found that the numbers of attacks and the effects of those attacks do not follow a linear path. The results for autocracies and anocracies require further analysis, but democracies have revealed interesting results. It seems that democracies as a whole have more terrorist attacks, but, within this group, the more democratic a country is …

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Fiscal Impact Of Privatization In Developing Countries, Alexander H. Sunderland Jan 2011

Fiscal Impact Of Privatization In Developing Countries, Alexander H. Sunderland

CMC Senior Theses

This paper examines the fiscal impact of privatization revenues in 47 developing countries. There are many reasons that privatization is attractive for the central government of developing countries. If substantial, these revenues from the sale of state owned enterprises can present a potential solution to persistent deficits. On the other hand, the privatization revenues could be used to finance an even larger deficit. In this paper, I will discuss previous research on the fiscal impact of privatization revenues, the factors that contribute to persistent fiscal budget deficits and explain how empirical research on the fiscal impact of privatization in the …

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Democratization In Sub-Saharan Africa: The Good, The Bad, And The Ugly, Ashley W. Munetsi Jan 2011

Democratization In Sub-Saharan Africa: The Good, The Bad, And The Ugly, Ashley W. Munetsi

CMC Senior Theses

Democracy's advance on the African continent has been mixed, this article analyzes three countries which reflect this situation. Ghana represents the good, a country now considered a liberal democracy; Kenya represents the bad, although possessing the right conditions to advance its democracy the country has slid into an ambiguous zone; the Democratic Republic of Congo represents the ugly, after showing initial promise it still has significant issues halting its burgeoning democratic progress. These three countries represent the prototypical situations facing democratizing Sub-Saharan countries and analyzing them can inform what factors aid or have hindered democratic progress not only for them …

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Predicting Enrollment Decisions Of Students Admitted To Claremont Mckenna College, Michael Zaytsev Jan 2011

Predicting Enrollment Decisions Of Students Admitted To Claremont Mckenna College, Michael Zaytsev

CMC Senior Theses

College admission has become increasingly competitive in the internet era. This is especially true for the highest caliber of students and institutions. College admission is a process filled with asymmetric information. One of the biggest asymmetries occurs when schools admit students not knowing whether or not students will actually enroll. This uncertainty is economically costly to schools. As national rankings become more and more influential, schools are more sensitive to their rank and the statistics that determine them. One of these is yield, the percentage of admitted students who enroll. This paper examines data on admitted students to Claremont McKenna …

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Redistricting In California: Its Effects On Voter Turnout In Minority Populations And Misrepresentation, Carlos A. Hernandez Jan 2011

Redistricting In California: Its Effects On Voter Turnout In Minority Populations And Misrepresentation, Carlos A. Hernandez

CMC Senior Theses

This thesis analyzes the history behind reapportionment and how the task of redistricting has differed in the past decades. For the most part, there was always been a public outcry when the task was in the hands of the Legislature. Fear of political gerrymandering and the creation of safe districts was enough for people to pass a series of initiatives to try and correct the system. While many initiatives failed to pass, Proposition 11, passed in 2008, created the Citizen’s Redistricting Commission—a 14-member committee put in charge of drawing this years’ plans. This paper also looks at population trends in …

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The Gift That Keeps Giving: Fdi Inflows In China, Joseph Chang Jan 2011

The Gift That Keeps Giving: Fdi Inflows In China, Joseph Chang

CMC Senior Theses

This paper investigates the primacy of foreign direct investment inflows in liberalizing China’s economy and whether the long-term gains from economic openness will justify its inefficient energy uses and growing regional income disparities. By examining the history of FDI inflows in China, it becomes evident that FDI inflows were an instrumental part in institutional and technological development in China. I extend the argument to take into account how these developed infrastructures react to China’s growing energy demand in light of a shrinking world supply. Lastly, I perform a meta-analysis on the Environmental Kuznets Curve theory and the Pollution Haven Hypothesis, …

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The Impact Of Terrorism On Foreign Direct Investment: Which Sectors Are More Vulnerable?, Shivani Agrawal Jan 2011

The Impact Of Terrorism On Foreign Direct Investment: Which Sectors Are More Vulnerable?, Shivani Agrawal

CMC Senior Theses

The impact of conflict and violence on foreign direct investment (FDI) is not a topic that has been done justice by the literature, and what few studies exist have contradictory results. This paper studies the impact that transnational terrorism has on FDI inflows by economic sector, in developed countries. Results indicate a statistically significant negative correlation between terrorist events and total FDI inflows. Amongst a list of 12 broad industrial sectors, FDI inflows for manufacturing, trade and repair, and construction were found to have a statistically significant negative correlation with terrorist events.

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A Reexamination Of Us Heroin Policy, Daniel Fogel Jan 2011

A Reexamination Of Us Heroin Policy, Daniel Fogel

CMC Senior Theses

Misguided drug policy in the United States has led to many severe social and economic problems that have burgeoned over the past century. I analyzed heroin policy specifically, investigating new treatment methods and alternative decriminalization policies that would ameliorate some of these problems.

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