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- All Subjects: Finance
- All Subjects: Arizona
- Creators: Economics Program in CLAS
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Description
The Covid-19 pandemic has made a significant impact on both the stock market and the<br/>global economy. The resulting volatility in stock prices has provided an opportunity to examine<br/>the Efficient Market Hypothesis. This study aims to gain insights into the efficiency of markets<br/>based on stock price performance in the Covid era. Specifically, it investigates the market’s<br/>ability to anticipate significant events during the Covid-19 timeline beginning November 1, 2019<br/><br/>and ending March 31, 2021. To examine the efficiency of markets, our team created a Stay-at-<br/>Home Portfolio, experiencing economic tailwinds from the Covid lockdowns, and a Pandemic<br/><br/>Loser Portfolio, experiencing economic headwinds from the Covid lockdowns. Cumulative<br/>returns of each portfolio are benchmarked to the cumulative returns of the S&P 500. The results<br/>showed that the Efficient Market Hypothesis is likely to be valid, although a definitive<br/>conclusion cannot be made based on the scope of the analysis. There are recommendations for<br/>further research surrounding key events that may be able to draw a more direct conclusion.
ContributorsBrock, Matt Ian (Co-author) / Beneduce, Trevor (Co-author) / Craig, Nicko (Co-author) / Hertzel, Michael (Thesis director) / Mindlin, Jeff (Committee member) / Department of Finance (Contributor) / Economics Program in CLAS (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
In order to discover if Company X's current system of local trucking is the most efficient and cost-effective way to move freight between sites in the Western U.S., we will compare the current system to varying alternatives to see if there are potential avenues for Company X to create or implement an improved cost saving freight movement system.
ContributorsPicone, David (Co-author) / Krueger, Brandon (Co-author) / Harrison, Sarah (Co-author) / Way, Noah (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Michael (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Economics Program in CLAS (Contributor) / School of Accountancy (Contributor) / W. P. Carey School of Business (Contributor) / Sandra Day O'Connor College of Law (Contributor)
Created2015-05
Description
This project seeks to provide a general picture of the economic dependence on fossil fuels per County in the United States. The purpose for this study is creating a foundation for conversations about the future of fossil fuel workers and counties that depend heavily on fossil fuels. The main indicators utilized for this were employment and payroll data extracted from United States Census Bureau’s County Business Patterns dataset. A section on similarities between fossil fuel workers and other occupations was included, which shows possible alternative industries for fossil fuel workers. The main goal of the project is to provide possible solutions for mitigating job losses in the future. Some proposed solutions include retraining, expanding higher education, and investing in new industries. It is most important for future work to include input from most vulnerable counties and understand the social and cultural complexities that are tied to this problem.
ContributorsRamirez Torres, Jairo Adriel (Author) / Miller, Claek (Thesis director) / Shutters, Shade (Committee member) / Watts College of Public Service & Community Solut (Contributor) / Electrical Engineering Program (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
Abstract: Handling the multiple functions of monetary policy that protect the U.S. economy not only on a short term, but also long-term scale is a complicated responsibility assigned to Federal Reserve, in which their actions present a profound impact on consumer confidence towards financial markets and global economies. Specifically, one of the most important goals of the Federal Reserve is to mitigate the risk of the United States to enter a recession, while maintaining a balanced approach when making those policy decisions. In this thesis, we focus on the monetary policy of the Federal Reserve, particularly, their role in controlling interest rates to prevent recessionary sentiment in the current state of the economy. Since 2008, markets have been stronger and previous policies like Dodd-Frank have ensured that market collapses during the Great Recession do not repeat itself. Yet, fluctuations in the yield curve, polarizing investment views, and unsettled consumer confidence has pointed to another recession in the near future. In this case, we will look at the way the Fed has implemented short term policies to lower this risk in order to fight volatile markets, however, fluctuating interest rates has its consequences. The goal of this thesis is to analyze the various ways the Fed has managed interest rates in the past and present, and further, to offer a framework to serve as the most effective policy to combat volatility and recessionary sentiment in the U.S. economy.
ContributorsPatel, Dylan (Author) / Sacks, Jana (Thesis director) / Simonson, Mark (Committee member) / Economics Program in CLAS (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
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
Elections in the United States are highly decentralized with vast powers given to the states to control laws surrounding voter registration, primary procedures, and polling places even in elections of federal officials. There are many individual factors that predict a person's likelihood of voting including race, education, and age. Historically disenfranchised groups are still disproportionately affected by restrictive voter registration and ID laws which can suppress their turnout. Less understood is how election-day polling place accessibility affects turnout. Absentee and early voting increase accessibility for all voters, but 47 states still rely on election-day polling places. I study how the geographic allocation of polling places and the number of voters assigned to each (polling place load) in Maricopa County, Arizona has affected turnout in primary and general elections between 2006 and 2016 while controlling for the demographics of voting precincts. This represents a significant data problem; voting precincts changed three times during the time studied and polling places themselves can change every election. To aid in analysis, I created a visualization that allows for the exploration of polling place load, precinct demographics, and polling place accessibility metrics in a map view of the county. I find through a spatial regression model that increasing the load on a polling place can decrease the election-day turnout and prohibitively large distances to the polling place have a similar effect. The effect is more pronounced during general elections and is present at varying levels during each of the 12 elections studied. Finally, I discuss how early voting options appear to have little positive effect on overall turnout and may in fact decrease it.
ContributorsHansen, Brett Joseph (Author) / Maciejewski, Ross (Thesis director) / Grubesic, Anthony (Committee member) / Economics Program in CLAS (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Computer Science and Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
The growing Hispanic population in Phoenix, Arizona frequently lacks financial resources which may limit their access to health care. The goal of this study was to identify the ideal factors in a health insurance plan for the Hispanic/Latino population in Phoenix, AZ. A survey was designed to gather information regarding demographics, health insurance, preferences, and affordability. The survey was completed by 260 participants. Several multivariate regressions were run using SAS Statistical Software. The final model generated explained 4.48% of the variation in the data set. It showed that an individual who identified as Hispanic/Latino was 8.2% less likely to have health insurance. In addition, an individual who identified as a US Citizen was 23% more likely to have health insurance. To improve access and enrollment among the Hispanic/Latino population, further investigation is needed to identify relevant communication techniques that increase enrollment among this high-risk community.
ContributorsToo, Rachel Yun-May (Author) / Whisner, Corrie (Thesis director) / Calvin, Samantha (Committee member) / Cook, Aaron (Committee member) / Economics Program in CLAS (Contributor) / School of Molecular Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
The purpose of this paper is to study the impact that poison pills have on the value of share prices after the cancellation of a transaction. While various studies have focused on the generic share price impact of poison pills, very few have focused on the impact of poison pills in cancelled transactions. Based on our research and analysis, in cancelled transactions, target firms that have poison pills prior to the transaction and target firms without poison pills generate returns above the announcement date premium and subsequent investment in the S&P 500 when held to the cancellation of the transaction and when held from cancellation to 6 months after the transaction. This analysis can contribute to the argument that holding shares of firms regardless of cancellation risk is preferable to taking profit at announcement date. Additionally, it can contribute to the study of undiscovered pricing impact of poison pills.
ContributorsChotalla, Gurkaran (Co-author) / Amjad, Hamza (Co-author) / Reddy, Samir (Co-author) / Stein, Luke (Thesis director) / Lindsey, Laura (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Department of Finance (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
This paper seeks to analyze the relationship between energy subsidies on fossil fuels by countries and corresponding energy consumption, specifically electricity, by its citizens and occupants. The purpose of this was to determine whether pre-tax subsidies and post-tax subsidies have an effect on that consumption. This paper will discuss the prospect of accounting for post-tax subsidies as a method to curb rampant energy consumption throughout the world, with the focus being on residential electricity use. The two case studies, the Netherlands and Saudi Arabia, will illustrate the consumption patterns in relatively similar economic societies with different subsidy policies. Saudi Arabia will be a high pre-tax subsidy example while the Netherlands will be shown to account for some of the post-tax subsidies through an externality tax system. At the end of this analysis, this paper will show that the heavy subsidization of electricity production is strongly correlated to residential electricity consumption at levels that many officials would deem unsustainable, and that as such, subsidy reform is both beneficial and necessary.
ContributorsCorona, Kyle (Author) / Kelman, Jonathan (Thesis director) / Breetz, Hanna (Committee member) / School of Sustainability (Contributor, Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
Millennial involvement levels in the stock market are startlingly low. But what has caused this disconnect between America's younger generation and the financial sector? Stress from past financial crises, distrust of Wall Street, corporate greed, or a dislike of capitalism could surely all be viable culprits. Through our mutual experiences and research, however, we have found that most millennials aren't cynical anarchists avoiding the stock market in an attempt to fight against the system. Rather, they are individuals who have the desire to learn about investing but are clueless as to where/how to start. We both began investing in the stock market early in our college careers by opening online brokerage accounts and developing investment portfolios based on knowledge we learned within our Finance degrees and through independent research. Word of our involvement in the stock market began to spread in our social circles and people would consistently approach either of us and ask a variety of questions regarding investing. Questions such as: Can you sit down and help me open up an account and pick some stocks? What type of things do you invest in? How do I get started? How much money have you made? (always a favorite). Pre-med students, engineers, business, science, and technology majors alike all showed interest in the stock market. The more and more we talked to people, the more we realized that the problem was not a lack of desire or a lack of intellect. The problem was a lack of logically presented information, and barriers to entry that were far too high. We want to fix that. Investnet will be an online educational platform that will teach anyone the basics of investing, in plain, easy to understand terms. Whether the individual has absolutely zero knowledge of finances, or has some familiarity with investing, Investnet will provide them with the knowledge and confidence necessary to start investing in the stock market (or choose not to, but at least they'll know how).
ContributorsMcKenzie, Connor (Co-author) / Shatila, Jordan (Co-author) / Budolfson, Arthur (Thesis director) / Hoffman, David (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Department of Finance (Contributor) / W. P. Carey School of Business (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05