Theses and Dissertations
This collection includes both ASU Theses and Dissertations, submitted by graduate students, and the Barrett, Honors College theses submitted by undergraduate students.
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Description
This paper investigates whether measures of investor sentiment can be used to predict future total returns of the S&P 500 index. Rolling regressions and other statistical techniques are used to determine which indicators contain the most predictive information and which time horizons' returns are "easiest" to predict in a three year data set. The five "most predictive" indicators are used to predict 180 calendar day future returns of the market and simulated investment of hypothetical accounts is conducted in an independent six year data set based on the rolling regression future return predictions. Some indicators, most notably the VIX index, appear to contain predictive information which led to out-performance of the accounts that invested based on the rolling regression model's predictions.
ContributorsDundas, Matthew William (Author) / Boggess, May (Thesis director) / Budolfson, Arthur (Committee member) / Hedegaard, Esben (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Finance (Contributor)
Created2013-12
Description
In this paper the interest yield curve will be plotted at three points based upon three models that were found appropriate for each rate. Knowledge of the term structure of interest yield curves is helpful in the understanding of bond pricing, investment decisions, and public policy (ANG). This paper will examine the intricacies of the yield curve by developing three individual reference rates -a 2-year, 5-year, and 10-year- with the use of financial instruments and multivariate linear regression. Based upon the example of Nelson and Siegel (1987), Black, Derman, and Toy (1990), Mishkin (1990), Ang and Piazzesi (2002) and Diebold et al. (2005) the models will feature various financial assets as well as macroeconomic variables in order to gain an understanding of which factors have the most significant effect on interest rates.
ContributorsKim, A. Minyu (Author) / Mendez, J. Vincent (Author) / Tram, T. Dan (Author) / Gallais, Sylvain (Thesis director) / Budolfson, Arthur (Committee member) / Gopalan, Ramu (Committee member) / Barrett, The Honors College (Contributor) / W. P. Carey School of Business (Contributor)
Created2012-12
Description
Childbirth, an essential stage of human life, has been carried out and treated differently in numerous ways throughout time. Although the overall method of birth is biologically the same, women and medical professionals in the United States in particular have changed how they view and manage childbirth over the past 70 years. Some of said changes are extensive and occurred more rapidly than one might typically expect for such a delicate and important stage of a woman‘s, and infant‘s, life. As consumerism, capitalism, and the courts have changed America‘s lifestyles, politics, and society, so too have they drastically affected the way we are conditioned to approach childbirth. More importantly, as society changes over time, the medical field and
methods of specialists also change, and although the benefits of these changes are challenged by some individuals, these procedures and recommendations from professionals inevitably affect us all. Methods and procedures of modern, medicalized childbirth, and even the significance placed on the event, are products of historical and cultural factors influenced by scientific and social trends. However, there exists a small and steadily growing number of women and families who choose to have their birth take place outside of the present societal norm, and consequently outside of hospitals. This group‘s existence and growth has been attributed to several factors, including changes in societal values, differentiation between different financial classes, and the
medicalization of childbirth. Although statistically a small percentage of the majority, these women who choose to give birth outside of a hospital exist amidst an immense ongoing controversy between gynecologists, physicians, mothers, and midwives regarding what options should be available when childbirth is undertaken in the United States.
methods of specialists also change, and although the benefits of these changes are challenged by some individuals, these procedures and recommendations from professionals inevitably affect us all. Methods and procedures of modern, medicalized childbirth, and even the significance placed on the event, are products of historical and cultural factors influenced by scientific and social trends. However, there exists a small and steadily growing number of women and families who choose to have their birth take place outside of the present societal norm, and consequently outside of hospitals. This group‘s existence and growth has been attributed to several factors, including changes in societal values, differentiation between different financial classes, and the
medicalization of childbirth. Although statistically a small percentage of the majority, these women who choose to give birth outside of a hospital exist amidst an immense ongoing controversy between gynecologists, physicians, mothers, and midwives regarding what options should be available when childbirth is undertaken in the United States.
ContributorsHernandez, Dustin (Author) / Nguyen, Christy (Author) / Koblitz, Ann (Thesis director) / Budolfson, Arthur (Committee member) / Walker, Shell (Committee member) / Barrett, The Honors College (Contributor) / School of Life Sciences (Contributor) / W. P. Carey School of Business (Contributor)
Created2012-12
Description
There is a long standing debate on the various forms of investment in the growing marketplace as to which is best for the individual investor needs. Two similar types of investments are mutual funds and exchange-traded funds (ETF), which are both securities that are made up of a pool funds. They are comparable in concept but have key differences that make this study unique. Mutual funds are much more commonly used and are more prevalent in investment publications. This study addresses the benefits and drawbacks of mutual funds and ETFs and how their structures influence returns over a period of time. The purpose of this study was to take historical data of both mutual funds and ETFs to find their returns and see which, if either, outperformed the other based on several different calculations and performance measures. To improve the validity of this study, we found funds from both the technology and utility sector, for each investment vehicle in order to evaluate different classes of risk. We kept the study consistent and compared technology mutual funds to technology exchange traded funds, and so on with the utility sector. We created four portfolios consisting of around eight to ten high quality funds based on criteria. Results indicated that ETFs outperformed mutual funds in both the utility and technology sectors. In order to adjust for risk, we ran Jensen's measure and found that ETF's still outperformed mutual funds. This is significant because mutual funds are highly regarded in the investment world and often thought of as better than ETFs mainly due to their active management and long term results as they have been around for longer than ETFs. This study proves that investors should be putting more money into ETFs because they yield higher returns over time and cost less in fees, allowing the investor to retain a larger portion of their investment.
ContributorsRietman, Marissa (Co-author) / Melton, Mikayla (Co-author) / Licon, Wendell (Thesis director) / Budolfson, Arthur (Committee member) / W. P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / School of International Letters and Cultures (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05