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In this study, I test whether firms reduce the information asymmetry stemming from the political process by investing in political connections. I expect that connected firms enjoy differential access to relevant political information, and use this information to mitigate the negative consequences of political uncertainty. I investigate this construct in

In this study, I test whether firms reduce the information asymmetry stemming from the political process by investing in political connections. I expect that connected firms enjoy differential access to relevant political information, and use this information to mitigate the negative consequences of political uncertainty. I investigate this construct in the context of firm-specific investment, where prior literature has documented a negative relation between investment and uncertainty. Specifically, I regress firm investment levels on the interaction of time-varying political uncertainty and the degree of a firm's political connectedness, controlling for determinants of investment, political participation, general macroeconomic conditions, and firm and time-period fixed effects. Consistent with prior work, I first document that firm-specific investment levels are significantly lower during periods of increased uncertainty, defined as the year leading up to a national election. I then assess the extent that political connections offset the negative effect of political uncertainty. Consistent with my hypothesis, I document the mitigating effect of political connections on the negative relation between investment levels and political uncertainty. These findings are robust to controls for alternative explanations related to the pre-electoral manipulation hypothesis and industry-level political participation. These findings are also robust to alternative specifications designed to address the possibility that time-invariant firm characteristics are driving the observed results. I also examine whether investors consider time-varying political uncertainty and the mitigating effect of political connections when capitalizing current earnings news. I find support that the earnings-response coefficient is lower during periods of increased uncertainty. However, I do not find evidence that investors incorporate the value relevant information in political connections as a mitigating factor.
ContributorsWellman, Laura (Author) / Dhaliwal, Dan (Thesis advisor) / Hillegeist, Stephen (Thesis advisor) / Walther, Beverly (Committee member) / Mikhail, Mike (Committee member) / Hillman, Amy (Committee member) / Brown, Jenny (Committee member) / Arizona State University (Publisher)
Created2014
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Description
An increasing number of military veterans are enrolling in college, primarily due to the Post-9/11 GI Bill, which provides educational benefits to veterans who served on active duty since September 11, 2001. With rigorous training, active combat situations, and exposure to unexpected situations, the veteran population is at a higher

An increasing number of military veterans are enrolling in college, primarily due to the Post-9/11 GI Bill, which provides educational benefits to veterans who served on active duty since September 11, 2001. With rigorous training, active combat situations, and exposure to unexpected situations, the veteran population is at a higher risk for traumatic brain injury (TBI), Post Traumatic Stress Disorder (PTSD), and depression. All of these conditions are associated with cognitive consequences, including attention deficits, working memory problems, and episodic memory impairments. Some conditions, particularly mild TBI, are not diagnosed or treated until long after the injury when the person realizes they have cognitive difficulties. Even mild cognitive problems can hinder learning in an academic setting, but there is little data on the frequency and severity of cognitive deficits in veteran college students. The current study examines self-reported cognitive symptoms in veteran students compared to civilian students and how those symptoms relate to service-related conditions. A better understanding of the pattern of self-reported symptoms will help researchers and clinicians determine the veterans who are at higher risk for cognitive and academic difficulties.
ContributorsAllen, Kelly Anne (Author) / Azuma, Tamiko (Thesis director) / Gallagher, Karen (Committee member) / Department of Speech and Hearing Science (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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Description
There is a need within the Phoenix Metropolitan area to solve the complex issue of
veteran homelessness. According to the Veterans Affairs, over 500,000 veterans live
in Arizona, which comprises about 2.5% of the nation’s veteran’s population as of
September 30, 2017. Many veterans have neither the skills nor resources necessary
to integrate back

There is a need within the Phoenix Metropolitan area to solve the complex issue of
veteran homelessness. According to the Veterans Affairs, over 500,000 veterans live
in Arizona, which comprises about 2.5% of the nation’s veteran’s population as of
September 30, 2017. Many veterans have neither the skills nor resources necessary
to integrate back into society after their tour of duty thus leading them into
homelessness.

The goal of this thesis is to research organizations in the Phoenix Metropolitan area
that help to prevent veteran homelessness and/or assist homeless veterans in
obtaining stable housing. Programs and services provided by various organizations
are discussed, along with an analysis which reveals insufficient money, labor, and
space to fully address veteran homelessness, as well as a trend where most
organizations are trying to solve this issue on their own. Recommendations are
provided which include identifying synergies between entities to create greater impact
through partnerships, so society can improve the veteran homelessness situation and
help those who bravely served our country find stability in their personal lives.
ContributorsMoy, Matthew Michael (Author) / Brown, Jenny (Thesis director) / Romero, Lorenzo (Committee member) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Watts College of Public Service & Community Solut (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05