Barrett, The Honors College Thesis/Creative Project Collection
Barrett, The Honors College at Arizona State University proudly showcases the work of undergraduate honors students by sharing this collection exclusively with the ASU community.
Barrett accepts high performing, academically engaged undergraduate students and works with them in collaboration with all of the other academic units at Arizona State University. All Barrett students complete a thesis or creative project which is an opportunity to explore an intellectual interest and produce an original piece of scholarly research. The thesis or creative project is supervised and defended in front of a faculty committee. Students are able to engage with professors who are nationally recognized in their fields and committed to working with honors students. Completing a Barrett thesis or creative project is an opportunity for undergraduate honors students to contribute to the ASU academic community in a meaningful way.
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- All Subjects: Climate Change
- All Subjects: Investment Banking
- Creators: Economics Program in CLAS
Description
The fight for climate justice has been ongoing for decades. However, in a recent effort to address climate change, U.S. congressional leaders Alexandria Ocasio-Cortez of New York and Edward J. Markey of Massachusetts proposed a resolution known as the Green New Deal (GND). Though congress defeated the proposal, the policy changes envisioned within it have gained political momentum from states and municipalities. So much so, municipalities in the United States have decided to implement their own versions of the GND proposal. Throughout this paper, I analyze the components of three nationally recognized climate proposals that offer a unique approach to actualize the federal GND objectives: New York City's Climate Mobilization Act, Los Angeles's Green New Deal – Sustainable City pLAn, and Seattle's Green New Deal. From these proposals, I draw comparisons to Tempe's Climate Action plan to evaluate their efforts. Though this paper is primarily focused on analyzing the components of municipal GNDs across the nation, this paper also contends that municipalities' are a necessary complement to national efforts in mitigating climate change.
ContributorsMazariegos, Ashley (Author) / Fong, Benjamin Y. (Thesis director) / Calhoun, Craig (Committee member) / Economics Program in CLAS (Contributor) / School of Public Affairs (Contributor) / Barrett, The Honors College (Contributor)
Created2020-12
Description
Investment banking is an industry that has historically had a low representation of minorities. Diversity has become a common buzz word among human resource professionals and American firms have worked hard over the last decades to diversify their ranks. The positive effect that diversity of thought has on performance has fueled a high demand for increasingly diverse and inclusive work environments. Conversely, investment banking (typically considered a profession for upper-class, white males) has not made any strides in regard to attracting more diverse talent to Wall Street. Wall Street firms have been unsuccessful in attracting students of color and women to the industry. In this study, interest levels of Black students will be explored to understand if the shortage of Black bankers is due to supply rather than demand.
ContributorsMemberr, Loliya (Author) / McDaniel, Cara (Thesis director) / Bonadurer, Werner (Committee member) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Greenhouse gas emissions (GHG) continue to contribute heavily to global warming. It is estimated that the international community has only until 2050 to eliminate total carbon emissions or risk irreversible climate change. Arizona, despite its vast solar energy resources, is particularly behind in the global transition to carbon-free energy. This paper looks to explore issues that may be preventing Arizona from an efficient transition to carbon-free generation technologies. Identifiable factors include outdated state energy generation standards, lack of oversight and accountability of Arizona’s electricity industry regulatory body, and the ability for regulated utilities to take advantage of “dark money” campaign contributions. Various recommendations for mitigating the factors preventing Arizona from a carbon-free future are presented. Possibilities such as modernizing state energy generation standards, increasing oversight and accountability of Arizona’s electricity industry regulatory body, and potential market restructuring which would do away with the traditional regulated utility framework are explored. The goal is to inform readers of the issues plaguing the Arizona energy industry and recommend potential solutions moving forward.
ContributorsWaller, Troy (Author) / Sheriff, Glenn (Thesis director) / Rule, Troy (Committee member) / Economics Program in CLAS (Contributor) / Dean, W.P. Carey School of Business (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2020-12
Description
This paper examines the qualitative and quantitative effects of the 2008 financial crisis on the current landscape of the investment banking industry. We begin by reviewing what occurred during the financial crisis, including which banks took TARP money, which banks became bank holding companies, and significant mergers and acquisitions. We then examine the new regulations that were created in reaction to the crisis, including the Dodd-Frank Act. In particular, we focus on the Volcker Rule, which is a section of the act that prohibits proprietary trading and other risky activities at banks. Then we shift into a quantitative analysis of the changes that banks made from the years 2005-2016. To do this, we chose four banks to be representative of the industry: Goldman Sachs, Morgan Stanley, J.P. Morgan, and Bank of America. We then analyze four metrics for each bank: revenue mix, value at risk, tangible common equity ratio, and debt to equity ratio. These provide methods for analyzing how banks have shifted their revenue centers to accommodate new regulations, as well as how these shifts have affected banks' risk levels and leverage. Our data show that all four banks that we observed shifted their revenue centers to flatter revenue areas, such as investment management, wealth management, and consumer banking operations. This was paired with fairly flat investment banking revenues across the board when controlling for overall market changes in the investment banking sector. Additionally, trading-focused banks significantly shifted their operations away from proprietary trading and higher risk activities. These changes resulted in lower value at risk measures for Goldman Sachs and Morgan Stanley with very minor increases for J.P. Morgan and Bank of America, although these two banks had low levels of absolute value at risk when compared to Goldman Sachs and Morgan Stanley. All banks' tangible common equity ratios increased and debt to equity ratios decreased, indicating a safer investment for shareholders and lower leverage. We conclude by offering a forecast of our expectations for the future, particularly in light of a Trump presidency. We expect less regulation going forward and the potential reversal of the Volcker Rule. We believe that these changes would result in more revenue coming from trading and riskier strategies, increasing value at risk, decreasing tangible common equity ratios, and increasing debt to equity ratios. While we do expect less regulation and higher risk, we do not expect these banks to reach pre-crisis levels due to the significant amount of regulations that would be particularly difficult for the Trump administration to reverse.
ContributorsPatel, Aashay (Co-author) / Goulder, Gregory (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Michael (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05