Social and Behavioral Sciences Commons^™

Abortion Access And The Economy: How The Dobbs V. Jackson Decision Impacted Female Economic Outcomes, Mia Kathleen Nelson

CMC Senior Theses

This thesis will aim to understand the economic impact of removing access to abortion by comparing economic outcomes in states that banned abortion with those that did not ban abortion following the Dobbs V. Jackson Supreme Court decision. By using data from the Consumer Population Survey, I created a model to estimate the impact of banning abortion on metrics such as unemployment rate and labor force participation rate. My model indicated that banning abortion in these states did have a statistically significant impact on female economic outcomes, indicating that banning abortion decreased female labor force participation rate and increased the …

The Effect Of Variations In Us Policy Toward Taiwan On Us – China Relations, Thomas Cheah

CMC Senior Theses

US foreign policy to Taiwan has been defined by strategic ambiguity ever since the 1979 Taiwan Relations Act. However, changes and variations in the intensity of strategic ambiguity have come to the fore in recent years, specifically beginning under the first Trump Administration. This has undermined US China relations in certain cases.The findings reveal that while US actions, such as arms sales and symbolic gestures, provoke short-term tensions with China, the broader bilateral relationship remains defined by economic interdependence and strategic competition.

The Lacey Act: Balancing The Scales Of Federal Authority And Individual Liberty, Bradley Kwon

CMC Senior Theses

This thesis examines the balance between federal authority and individual liberties within the framework of American federalism, using the Lacey Act as a case study. Enacted in 1900 to regulate wildlife trafficking, the Lacey Act has undergone significant amendments that expanded federal authority and reshaped the balance of power between state governments and individual rights. By integrating theoretical insights from scholars such as Martha Derthick and Dennis LaGory, this thesis explores the federal government’s transition from a cooperative model to a coercive one, particularly during the Rights Revolution of the 1960s. The analysis highlights the legislative history of the Lacey …

Fiscal Zoning Under Fire: A Case Study Of Local Land Use Politics In California, George Ashford

CMC Senior Theses

This paper interprets interviews with participants in a local land use controversy to explore the role of voters’ financial incentives in shaping local land use politics. Drawing on previous studies that characterize the politics of urban and suburban housing development as driven by the economic incentives of different groups, predominantly homeowners’ incentive to increase residential property values, the paper seeks to address a key puzzle for scholars and reformers: why homeowners do not support land use policy changes that would increase their property values. While the literature has evolved from modeling restrictive zoning as an efficient pricing scheme for local …

Analysis Of Banking-As-A-Service Partnerships’ Effects On The Performance Of U.S. Community Banks, Jonathan Ke

CMC Senior Theses

Over the past decade, financial technology (fintech) has emerged as an innovation reshaping the financial services landscape. One particular fintech that recently caught the attention of consumers and regulators is Banking-as-a-Service (BaaS). BaaS is often a partnership wherein a fintech company provides banking services, such as digital payments or lending, using the infrastructure and license of a sponsor bank. The bank manages regulatory compliance and core banking operations, while fintech focuses on developing and delivering innovative services to customers. On the one hand, BaaS partnerships allow banks to expand their customer base and service offerings without investing in extensive technological …

National And Regional Bank Deposits And Their Relationship To The Stock Market, Joseph Zhong

CMC Senior Theses

Institutional investors started using bank deposits as a Leading Economic Indicator to predict stock market returns. I find that bank deposits lead stock market returns by 2 weeks at the national level. Examining the mechanism through which bank deposits affect stock market returns, existing literature postulates the Bank Deposit Lending Channel: increased bank deposits increase financial liquidity, powering and leading stock market returns. I do not find evidence for the Bank Deposit Lending Channel. In my regional analysis, I find that bank deposit behavior differs drastically between US regions. In general, regional bank deposits still lead stock market returns. In …

Likes, Comments, And Rhetoric: Demagoguery In The Age Of The Internet And Social Media, Andrea Posada

CMC Senior Theses

As the internet and social media have created spaces for politics, they have also facilitated the opportunity for demagogic behavior to become accessible and widespread online. This thesis compares how Donald Trump and Kamala Harris utilized social media in their respective 2016 and 2024 campaigns. It examines why Donald Trump’s online use was demagogic and harmful to political practices. I begin by defining demagoguery, providing two case studies of how demagogic behavior has existed in politics, and explaining different constraints against demagoguery. Through a history of the impact of technology on politics, I describe how the internet has evolved to …

Understanding The Ideological Transformation Of Farc In Colombia, Savannah Grier

CMC Senior Theses

In 2016, the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) agreed to a peace deal that led to their disarmament. The former guerrilla group, FARC, integrated into Colombian politics by forming a new party called Comunes. FARC, thus, has taken a similar route to other former rebel groups in Latin America by pursuing its agenda as a political party after demobilizing. This thesis examines the ideological transformation and political evolution of FARC, analyzing its transition from a Marxist-Leninist insurgent group to a political party within Colombia’s democratic system. By exploring FARC’s historical role in the Colombian conflict …

Engines Of Division: The Trabant, Economic Lag, And Cultural Fragmentation In A Unified Germany, Maria Carolina Auerbach

CMC Senior Theses

This thesis examines the Trabant, East Germany’s iconic yet inefficient automobile, as a critical lens through which to explore the enduring socio-economic and cultural disparities between East and West Germany in the aftermath of reunification. By tracing the Trabant’s trajectory from its inception within the GDR’s command economy to its rapid obsolescence in the face of Western market forces, this study reveals how the vehicle served as both a product and a symbol of East Germany’s industrial ethos, resilience, and identity. The Trabant, once a ubiquitous artifact of socialist life, embodied the constraints of a resource-scarce economy but also cultivated …

Russia’S Involvement In Mali: Strategic Opportunism, Madeline Dornfeld

CMC Senior Theses

This paper examines the motivations behind Russia’s involvement in Mali, focusing on the interests of both the Russian and Malian states. This analysis is complicated by the presence of Wagner Group, a semi-state security force whose ties to the Russian government have been officially denied until recently. The paper situates Russia’s engagement within a broader geopolitical context, highlighting pivotal events such as the annexation of Crimea in 2014 and the invasion of Ukraine in 2022. It argues that Russia’s engagement in Mali is part of a strategic effort to counter international isolation, expand geopolitical influence, and promote a multipolar world …

Unintended Consequences: Exploring The Nexus Between Us Foreign Aid, Governance, & Conflict Fatalities, Audrey Hope Donahue

CMC Senior Theses

This paper examines the impact of United States foreign aid on civil violence in recipient countries, specifically investigating the interaction between aid implementation channels—bilateral aid, implemented directly by recipient governments, vs. multilateral aid, implemented through Non-Governmental Organizations (NGOs) or other multilateral partners—and governance quality. Using a panel dataset covering 49 countries from 1996 to 2022, the study measures the effect of aid on violence through conflict-related fatalities normalized by population. A fixed-effects regression model is employed to control for country-specific and time-specific factors, revealing that in countries with poor governance, bilateral aid is associated with a reduction in conflict fatalities, …

A Multiple Perspective Analysis On Urban Poverty In Developing Nations: A Case Study On Nigeria, Colonial Implications, And Modern-Day Outcomes, Julian Rivera-Williams

CMC Senior Theses

This paper will dissect urbanization and poverty in Nigeria as a case study of the challenges of underdevelopment and the lingering effects of colonialism in Africa. To draw a complete understanding of challenges faced by developing nations facing systemic underdevelopment, high poverty, and low productivity– nations like Nigeria, my research will uncover colonial impacts and post-colonial policies that initiated urban poverty and underdevelopment outcomes we see today. The purpose of my thesis is to encompass existing fragmented academia on the causes and consequences of underdevelopment and connect historical implications to current impacts of global development today including the influence of …

What Factors Have Contributed To The Growth In The Unified Payments Interface In India?, Anahit Bindra

CMC Senior Theses

The Unified Payments Interface (UPI), introduced in 2016, has driven the rapid growth of cashless transactions and digital adoption in India. By 2023, India led global real-time payments, processing 129 billion transactions. Using data from the Reserve Bank of India across 30 states and union territories, this study examines the factors driving UPI’s growth. We analyze panel data from 2018 to 2021, incorporating variables related to financial literacy, infrastructure, economic indicators, and demographics. Employing an Ordinary Least Squares model, we regress the log of the volume of UPI transactions per 1,000 people on these determinants. Our findings reveal that UPI …

Exploring Unicorns Of India: What Are The Factors That Allow Them To Fly?, Tanisha Kejriwal

CMC Senior Theses

Over the past few decades, startups and entrepreneurial ventures have surged globally, with unicorns - private startups valued at over $1 billion - emerging as standout success stories. Today, India is home to the third largest number of unicorns in the world, and studying their success factors is becoming increasingly relevant. Using a novel dataset of 112 Indian unicorns, this paper studies economic, founder, regional and industrial factors influencing their valuation/revenue and valuation/profit ratios, in order to identify factors that lead to start-up success. I find that gender, age, total funding raised, and time taken to achieve unicorn status after …

From Pixels To Proposals: Exploring The Effects Of Empathy And Immersion On Economic And Moral Decision - Making In Video Games, Alex Dien

CMC Senior Theses

This study explores the role of immersive environments, specifically video games, in shaping empathy and decision-making during economic exchanges like the Ultimatum Game. Traditional economic models emphasize rationality, but more recent research highlights the influence of emotions and empathy on decision-making. Using a 2x2 between-subjects design, this proposed study will investigate how varying levels of immersion (active gameplay versus passive observation) and fairness of offers (fair versus unfair) affect participants' responses to non-human characters (NPCs). I plan to recruit eighty participants, aged 18-25, to engage with a video game, Red Dead Redemption 2 (Rockstar Games, 2018) either through playing or …

Weathering The Storm: Examining The Impact Of Unexpected Inflation On Industry Returns, Casper Hoving

CMC Senior Theses

This paper analyzes the cross-sectional differences of how unexpected inflation affects industry returns, controlling for market factors and firm characteristics. The methodology builds upon Bernard (1986) in trying to explain and detect differing cross-sectional effects by industry, but instead considers daily reactions to the release of monthly CPI figures. My hypothesis was that higher unexpected inflation would have a negative effect on industry returns but when controlling for market factors and firm characteristics the reactions would be dampened. The findings of this study confirm that higher unexpected inflation tends to have a negative effect on market returns, but show mixed …

The Solar Power Of Pricing: Does Electricity Pricing Policy Drive Residential Solar Demand?, Talia De Beer

CMC Senior Theses

Solar energy has emerged as a pivotal renewable energy source, experiencing significant growth in the United States over the past two decades. As policymakers continue to develop and refine the best methods to incentivize solar adoption while reflecting true costs and potential equity concerns, this paper seeks to evaluate the impact of changes in solar pricing policies on residential solar installations. Employing a difference-in-differences regression model, this study examines the effects of policy changes on both the system capacity and number of installations of adoption in three Western states that have transitioned away from traditional Net Energy Metering (NEM) policies–Arizona, …

High ‘Steaks’: Does Lone Star Tick-Induced Red Meat Allergy Reduce Cardiovascular Disease-Related Hospitalizations?, Raj Parekh

CMC Senior Theses

In this thesis, I investigate the relationships between Lone Star Tick-induced Alpha-Gal Syndrome (AGS), red meat consumption, and cardiovascular health outcomes within New York State's 62 counties from 2012 to 2021. The analysis examines whether AGS, which forces individuals to reduce red meat consumption, serves as a natural experiment in understanding dietary impacts on cardiovascular disease (CVD). Leveraging panel data, I utilize Fixed Effects (FE) and Two-Stage Least Squares (2SLS) regression frameworks to disentangle the relationships between red meat expenditure, meat prices, Lone Star Tick prevalence, and health outcomes such as CVD, stroke, coronary heart disease, and heart attack hospitalization …

Just As Advertised: The Perception And Effectiveness Of Artificial Intelligence In Digital Advertising, Brandon Isem Cáceres

CMC Senior Theses

What do you think when you hear “AI in advertising”? Does it spark intrigue, or does it feel like just another tech buzzword? In today’s fast-paced digital marketing landscape, connecting with consumers is a high-stakes challenge, and artificial intelligence is at the forefront of innovation. From automating campaigns to creating hyper-targeted content, AI promises efficiency and precision—but how do audiences perceive this shift? By analyzing key performance indicators (KPIs) like impressions, click-through rates, and cost-per-click in an an original A/B test, this thesis evaluates the perception and effectiveness of AI-driven advertising strategies. Combining historical insights, case studies, and an original …

China’S Economic Slowdown: How Does It Affect New Zealand’S Economy?, Haven Qin

CMC Senior Theses

This paper examines the impact of China’s economic slowdown on New Zealand’s economy, focusing on sector-specific linkages across real estate, the stock market, exports, and import prices. As a small open economy, New Zealand’s deep integration with global markets makes it particularly vulnerable to external shocks from its largest trading partner. Employing OLS regression models and monthly economic data, this study reveals the nuanced pathways through which China’s economic conditions influence New Zealand. Key findings include the sensitivity of New Zealand’s housing market to Chinese property investments and Chinese stock market performance, the influence of Chinese financial market performance on …

Pay-Performance Sensitivity: How Firm Performance Impacts Ceo Compensation, Yuefeng Ma

CMC Senior Theses

This study investigates the relationship between firm performance and CEO compensation, revisiting and extending the foundational framework established by Jensen and Murphy (1990). The sample comprises compensation data for the Chief Executive Officer (CEO) of all publicly traded companies on the Wharton Research Data Services (WRDS) Compustat – ExecuComp dataset from 1994 to 2023. Using Ordinary Least Squares (OLS) regression models, the analysis evaluates the sensitivity of CEO pay to changes in shareholder wealth and other performance metrics, while accounting for structural and temporal shifts driven by corporate governance, macroeconomic environment, and legislation. The findings reveal that changes in shareholder …

Evaluating The Dual-Faceted Growth Strategies In The Healthcare Sector: A Comparative Analysis Of Organic Innovation And Inorganic Expansion, Isabel Carter

CMC Senior Theses

In order to stay competitive in an expansionary industry like healthcare, companies must consistently meet market demands for growth. This paper builds an empirical model to identify which growth strategies are most highly rewarded by the public markets. The model consists of a data set of 70 healthcare companies, across various healthcare verticals, to measure market returns from 2010 to 2023. The number of completed acquisitions is used as a proxy to identify each company’s propensity towards a growth strategy. Factors from the Fama-French Model and dummy variables used to signal growth strategy expertise, indicate that firms who invest more …

The Impact Of Ceo Changes On The Recovery Of It Firms That Have Experienced Substantial Reductions In Value (2010-2024), Amanda Dee

CMC Senior Theses

The informational technology (IT) industry is one of the most dynamic industries, and the CEO plays a crucial role in steering innovation. The dependence on innovation is associated with dynamics that bring heightened volatility and force firms and their CEOs to confront significant challenges, particularly when navigating periods of substantial reductions in value. I define distress as three-year cumulative returns that are negative and underperform the market by more than 30%. Firms that meet this criteria during 2010-2017 are analyzed using regression models to assess how CEO change influences the likelihood of their recovery, defined as achieving nine-year cumulative returns—including …

From Fields To Fast Foods: Food Culture, Identity, And Health In Puerto Rico Under The U.S. Empire, Ivanna Morales Mercado

CMC Senior Theses

Operation Bootstrap, launched in 1947, fundamentally altered Puerto Rico’s economy, just as much as its food culture. Prioritizing manufacturing over agriculture led to the collapse of the island’s farming sector, increasing reliance on food imports and leading to a rise in diet-related diseases such as obesity, type 2 diabetes, and cardiovascular issues. This thesis examines the legacies of Operation Bootstrap on Puerto Rico’s food system, health outcomes, and cultural identity by emphasizing the need to value intergenerational knowledge. The oral history research in this study highlights the importance of intergenerational knowledge in reclaiming sustainable agricultural practices and healthy, culturally significant …

Investigating The Impact Of Phthalate Exposures From Personal Care Products On Uterine Fibroid Incidence And Prevalence In Us-Born Black Women, Ella Brissett

CMC Senior Theses

Uterine fibroids are benign tumors composed of smooth muscle cells and connective tissue that develop within or on the walls of the uterus. Despite being non-cancerous, they can severely affect quality of life by causing heavy bleeding, chronic pain, and reproductive complications. Fibroids are typically found in women of reproductive age, but they disproportionately affect Black women, who experience higher incidence and severity. The underlying causes of this disparity is poorly understood; however, an emerging body of research is highlighting the role of phthalates, endocrine-disrupting chemicals found in many personal care products, in exacerbating fibroid development. Through a critical analysis …

The Predictors Of Self-Censorship On College Campuses, Henry I. Long

CMC Senior Theses

Across U.S. colleges, speech climates are poor. Self-censorship and discomfort expressing views are common. At the same time, we find wide variation in speech climates across different institutions. This study is the first to identify factors that predict variation in speech climates. Drawing on data from multiple sources, including a survey of 58,807 undergraduates across 257 colleges and universities from the Foundation from Individual Rights and Expression (FIRE), this study constructs a first-of-its-kind dataset to test three core theories of self-censorship found in the literature—student-centric theories, faculty-centric theories, and administrator-centric theories. We find moderate evidence to support each theory. Overall, …

A Bad Bet For Adolescents: Psychological Perspectives On Sports Betting & Digital Gambling Technologies, Kaitlyn Helfrich

CMC Senior Theses

Digital sports betting is a rapidly expanding sector of the gambling industry, allowing users to place wagers on the outcomes of sporting events from virtually anywhere. While structurally comparable to traditional gambling systems, sports betting is often perceived as a more socially acceptable and accessible alternative, contributing to its growing appeal and largely positive sentiment among Americans. Yet, in the seven years since sports betting has become legalized, growing numbers of Americans have reported psychological and financial problems stemming from problem gambling. Of particular concern is the increasing percentage of adolescents engaging with these platforms, despite legal restrictions on underage …

The Pen Is The Sword: A Re-Examination Of Chinese “Wolf Warrior” Diplomacy, 2009-2024, Margo E. Cohen

CMC Senior Theses

During and for some period after the COVID-19 pandemic, there was considerable international recognition of the phenomenon dubbed “wolf warrior” diplomacy, where Chinese diplomats acted in an unusually unprofessional manner, often leveraging ad hominem attacks, violent rhetoric, and occasionally physical aggression to communicate specific points. In this paper, I question the fundamental assumptions that we make of “wolf warriors” – that they are young, early-career professionals that acted only during and after the height of the COVID-19 pandemic – and find instead that “wolf warriors” are often mid-career professionals. I also note that there are occurrences of “wolf warrior” diplomacy …

Wearing Our Values On Our Sleeves: The Intersection Of Fashion Leadership, Values, And Sustainability, Cayman Chen

CMC Senior Theses

Fashion leaders are social leaders who derive their power from what they wear and how they influence others. There are three types: 1) fashion innovators, who are early adopters of trends, 2) fashion opinion leaders, who legitimize new styles and influence others, and 3) innovative communicators, who exhibit the behaviors of both fashion innovators and fashion opinion leaders. This study investigates motivational differences between different fashion leaders through their values. We then investigate how fashion leadership and value-based advertising appeal predicts intention to purchase sustainable fashion products. 213 student participants were administered the Portrait Values Questionnaire, the …

Beyond Teaching A Man To Fish: Smallholder Cultivation, Certification, And Cooperation In Southeast Asian Aquaculture, Sasha Shunko

CMC Senior Theses

This thesis explores the barriers and opportunities facing smallholder aquaculture farmers in Southeast Asia, focusing on Thailand. It examines how certification systems, technical assistance, and policy interventions can effectively include smallholders in development and sustainability efforts. Based on field interviews with Thai shrimp farmers, analysis of certification schemes, and review of other agricultural intervention models, the research traces how market access, corporate concentration, and environmental change shape smallholder livelihoods.

The findings show that while certification is promoted as a tool for sustainability and market integration, in practice it often excludes the very farmers it seeks to empower. Redundant standards, limited …