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- Creators: Dean, W.P. Carey School of Business
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Description
The PPP Loan Program was created by the CARES Act and carried out by the Small Business Administration (SBA) to provide support to small businesses in maintaining their payroll during the Coronavirus pandemic. This program was approved for $350 billion, but this amount was expanded by an additional $320 billion to meet the demand by struggling businesses, since initial funding was exhausted under two weeks.<br/><br/>Significant controversy surrounds the program. In December 2020, the Department of Justice reported 90 individuals were charged for fraudulent use of funds, totaling $250 million. The loans, which were intended for small business, were actually approved for 450 public companies. Furthermore, the methods of approval are<br/>shrouded in mystery. In an effort to be transparent, the SBA has released information about loan recipients. Conveniently, the SBA has released information of all recipients. Detailed information was released for 661,218 recipients who have received a PPP loan in excess of $150,000. These recipients are the central point of this research.<br/><br/>This research sought to answer two primary questions: how did the SBA determine which loans, and therefore which industries are approved, and did the industries most affected by the pandemic receive the most in PPP loans, as intended by Congress? It was determined that, generally, PPP Loans were approved on the basis of employment percentages relative to the individual state. Furthermore, in general, the loans approved were approved fairly, with respect to the size of the industry. The loans, when adjusted for GDP and Employment factors, yielded a clear ranking that prioritized vulnerable industries first.<br/><br/>However, significant questions remain. The effectiveness of the PPP has been hindered by unclear incentives and negative outcomes, characterized by a government program that has essentially been rushed into service. Furthermore, limitations of available data to regress and compare the SBA's approved loans are not representative of small business.
ContributorsMaglanoc, Julian (Author) / Kenchington, David (Thesis director) / Cassidy, Nancy (Committee member) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Music streaming services have affected the music industry from both a financial and legal standpoint. Their current business model affects stakeholders such as artists, users, and investors. These services have been scrutinized recently for their imperfect royalty distribution model. Covid-19 has made these discussions even more relevant as touring income has come to a halt for musicians and the live entertainment industry. <br/>Under the current per-stream model, it is becoming exceedingly hard for artists to make a living off of streams. This forces artists to tour heavily as well as cut corners to create what is essentially “disposable art”. Rapidly releasing multiple projects a year has become the norm for many modern artists. This paper will examine the licensing framework, royalty payout issues, and propose a solution.
ContributorsKoudssi, Zakaria Corley (Author) / Sadusky, Brian (Thesis director) / Koretz, Lora (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Regenerative medicine is a relatively new area of interest among researchers and physicians alike and has truly come to light within the last twenty years. Its purpose is to “regenerate” cells in our body to return tissue and organs systems to their normal functions by utilizing innate cell mechanisms. Uses have ranged from growing completely new body tissue in labs, to promoting the repair of damaged neurons. More recently, the use of regenerative medicine techniques such as stem cell and platelet rich plasma therapy has seen significant growth throughout high level and professional sports. Beginning in the early 2000s, treatments quickly gained popularity as professional athletes began using them as an alternative to surgery, but this came before any concrete scientific support. This thesis paper will analyze the current statistical data supporting the use of platelet rich plasma and stem cell therapy and associated regulations to describe the connection between regenerative medicine and sports.
ContributorsFritzke, Jack Teodor (Author) / Washo-Krupps, Delon (Thesis director) / Foster, William (Committee member) / Levinson, Simin (Committee member) / School of Life Sciences (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
Sustainable supply chain management has become increasingly more important for companies over the last decade. The need to create socially and environmentally sustainable supply chains that are also efficient and profitable is no longer something companies should do, but rather something they must do to stay competitive and successful in the long run. Through the examination of scholarly supply chain literature, case studies, and industry reports with an emphasis on digital technology, supply chain, and sustainability, a conceptual model was created to begin the research in the area of cost savings through the use of digital technologies to enable companies to be more sustainable. This paper works to define the terms sustainability, sustainable supply chain management, and intelligent supply chain designs. It focuses on the positive social and environmental impact of the implementation of leading-edge digital technologies in supply management processes by creating transparency, efficiency, and reliability throughout the supply chain. Through an applied analysis of Mattel, Rana Plaza, Nike, and Coca-Cola and a cost-benefit analysis, it is concluded that companies that implement blockchain technology into their supply management process designs may create more sustainable supply chains while increasing savings and increasing profits. Blockchain may provide the reliability and transparency needed to better manage the supply management process which will evoke better business decisions. Intelligent supply chain designs improve the environmental and social sustainability of a company while maintaining a competitive edge.
Keywords. Supply Chain Management, Social Responsibility, Sustainability, Economics, Supply Management, Blockchain, Intelligent Technology
Paper Type. Conceptual Paper
Keywords. Supply Chain Management, Social Responsibility, Sustainability, Economics, Supply Management, Blockchain, Intelligent Technology
Paper Type. Conceptual Paper
ContributorsVon Mizener, Noel Maria Yvonne Svetlana (Author) / Carter, Craig (Thesis director) / Forst, Bradley (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
This paper seeks to emphasize how the presence of uncertainty, speculation and leverage work in concert within the stock market to exacerbate crashes in a cyclical market. It analyzes three major stock market events: the crash of Oct. 19, 1987, “Black Monday;” the dotcom bust, from 1999 to 2002; and the subprime mortgage crisis, from 2007 to 2010. Within each event period I define determinants or measurements of uncertainty, speculation. Analysis of how these three concepts functioned during boom and bust will highlight how their presence can amplify the magnitude of a crash. This paper postulates that the amount of leverage during a crash determines how long-term its effects will be. This theory is fortified by extensive research and interviews with experts in the stock market who had a front row view of the discussed crises.
ContributorsGraff, Veronica Camille (Author) / Leckey, Andrew (Thesis director) / Cohen, Sarah (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / Walter Cronkite School of Journalism & Mass Comm (Contributor, Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Depletion can be a common occurrence in today’s world where a rapid pace is the norm. Depletion is the using of a person’s self-monitoring resources that can erode one’s decision making ability. Depletion affects people in their day-to-day personal and professional lives and can especially be problematic when it compromises career prospects. Professionals, such as doctors, lawyers, and accountants, all make important decisions daily and in pursuit of quality decision-making must exert self-control and avoid impulsive reactions to environmental events. Many studies have been conducted providing evidence of the harmful effects of cognitive depletion; an extensive literature focuses on the medical profession where poor decision-making has life-and-death consequences. This thesis reflects on the effect of depletion on accounting professionals. To that extent, behavioral experiments were conducted using student participants: students that will be future accountants. This study found that accounting students’ performance on a subsequent task was influenced if they had completed a difficult first task. Accountants, along with all professionals, need to be made aware of this circumstance to ensure that those who may be more susceptible to their resources being depleted can find ways to be aware of their self-control levels.
ContributorsBlevins, Megan J (Author) / Clausen, Thomas (Thesis director) / Reckers, Philip (Committee member) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
This paper intends to examine topics related to Chinese financial policy and
institutions mainly in the early 21st century. China has gone through enormous changes in the late 20th century and early 21st century, and financial policy reforms and adjustments have been at times instrumental to aiding that growth, and at other times have served as impediments to the country’s success. As China’s clout has grown both economically and politically in the wider world, it has become evermore important to understand the Chinese financial system, particularly as other authoritarian regimes may seek to emulate it in the perhaps recent future. The paper will examine the institutional elements of Chinese finance, including the broader structure of the party state apparatus and the role of legislative and executive authorities in determining financial policy. Next, the paper will go through both the legal-regulatory environment of the country and the structure of the preeminent Chinese banks. Finally, issues in Chinese monetary policy, particularly exchange rate system reforms, and the developing stock and bond markets will be addressed.
institutions mainly in the early 21st century. China has gone through enormous changes in the late 20th century and early 21st century, and financial policy reforms and adjustments have been at times instrumental to aiding that growth, and at other times have served as impediments to the country’s success. As China’s clout has grown both economically and politically in the wider world, it has become evermore important to understand the Chinese financial system, particularly as other authoritarian regimes may seek to emulate it in the perhaps recent future. The paper will examine the institutional elements of Chinese finance, including the broader structure of the party state apparatus and the role of legislative and executive authorities in determining financial policy. Next, the paper will go through both the legal-regulatory environment of the country and the structure of the preeminent Chinese banks. Finally, issues in Chinese monetary policy, particularly exchange rate system reforms, and the developing stock and bond markets will be addressed.
ContributorsFeatherston, Ryan (Author) / Hill, John (Thesis director) / Mendez, Jose (Committee member) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Regulations in the financial sector of the United States have had the same purpose of protecting the economy and consumers since their modern establishment. Deregulation in the 1980’s led to an environment that allowed banks to take on high risk choices. This, among other economic circumstances, lead to the 2008 Great Recession that brought down the United States and global economies. The government was forced to act with bailouts to keep many big banks from shutting down. Some were bailed out and others failed to keep the economy stable. In June 2009, the recession was over, but the recovery process was not. To help prevent another crash, the Dodd Frank Act was passed in July 2010. The act is a long and complex legislation with the main purpose of enforcing regulations to keep banks in check to prevent another recession. The Act’s enforcement was felt immediately, forcing businesses to adapt to its regulation standards. Opinions on Dodd-Frank are mixed. Some see it serving its purpose with regulating the financial sector and others see it being a costly burden that has slowed the progress of the economy. As the economy continues to evolve, we can expect changes to the regulations on the financial sector which will continue to cause businesses to adapt, change, and modify their operations.
ContributorsCastro, Jonathan Patrick (Author) / Jordan, Erin (Thesis director) / Sadusky, Brian (Committee member) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
This thesis provides an analysis of successful socially responsible management practices and company cultures to identify the required elements for proper cost internalization of manufacturing and service industries, as well as a more even wealth distribution throughout society for better consumption and sustainable long-term profits. For the purpose of this analysis, I have researched various companies that actively engage in the aforementioned features. The goal is to identify first steps necessary to transition corporate and private entities to a system where purchase power supersedes nominal currency numbers, such as being able to afford more for the same amount of USD than earning higher sums of USD to pay for the same product or service, thus ultimately creating stronger and more stable economies and currencies. To build such a framework, I have used various interdisciplinary concepts to present a solution for a more equitable system of accounting for value generation, and thus a system that aims at evening the wealth gap between populations.
By working on this thesis, I was able to identify causes that lead to inequality due to how manufacturing and service systems might account for costs, as well as solutions and concepts that can help pave the way for a more egalitarian society. Furthermore, through this study I have also discovered actors, namely benefit corporations, that actively partake in various actions to benefit not only their customers, but society as a whole. The causes, measurements, documents, and principles I looked at were company financial statements whenever available, various socially responsible management literature, accounting principles, research literature on the inequality of cost externalization, etc. These resources established that a proper plan to tackling the unsustainable business and financial practices of many corporate and private entities today involves a consumer-oriented vision that follows the triple bottom line, a mission that closely follow a vision, core company values that emphasize the need to serve society, and a plan to closely and efficiently follow through with said vision. Problems such as over reliance on limited resources and externalizing environmental costs due to intrinsically uncompetitive business models could be potentially mitigated with proper restructuring of business models. The triple bottom line is an accounting framework that incorporates the integral segments of social, environmental, and financial dimensions of performance. Lastly, it is worthwhile to mention that companies which successfully worked under this mantra and plan tend to be sustainable over longer periods of time and be more innovative than competitors, which ultimately lead to higher levels of goodwill and loyalty from their customers.
By working on this thesis, I was able to identify causes that lead to inequality due to how manufacturing and service systems might account for costs, as well as solutions and concepts that can help pave the way for a more egalitarian society. Furthermore, through this study I have also discovered actors, namely benefit corporations, that actively partake in various actions to benefit not only their customers, but society as a whole. The causes, measurements, documents, and principles I looked at were company financial statements whenever available, various socially responsible management literature, accounting principles, research literature on the inequality of cost externalization, etc. These resources established that a proper plan to tackling the unsustainable business and financial practices of many corporate and private entities today involves a consumer-oriented vision that follows the triple bottom line, a mission that closely follow a vision, core company values that emphasize the need to serve society, and a plan to closely and efficiently follow through with said vision. Problems such as over reliance on limited resources and externalizing environmental costs due to intrinsically uncompetitive business models could be potentially mitigated with proper restructuring of business models. The triple bottom line is an accounting framework that incorporates the integral segments of social, environmental, and financial dimensions of performance. Lastly, it is worthwhile to mention that companies which successfully worked under this mantra and plan tend to be sustainable over longer periods of time and be more innovative than competitors, which ultimately lead to higher levels of goodwill and loyalty from their customers.
ContributorsCinculescu, Andrei Stefan (Author) / Sadusky, Brian (Thesis director) / Hoffman, David (Committee member) / Department of Finance (Contributor) / Department of Information Systems (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Supply chain is changing. The focus has always been on information and how it is used to get a product to the right place at the right time. But now, there is a greater emphasis on speed. Speed in how information is transferred and how decisions are made. In the new era of Supply Chain 4.0, companies in every industry are in a race to use digital technologies to achieve this speed. These digital technologies include Artificial Intelligence, Machine Learning, Internet of Things, and Blockchain.
The challenges that companies face when digitally transforming the supply chain can often be self-inflicted. This paper will address those challenges and provide a structured approach to a successful transformation. It will also share insight from interviews conducted with the CIO and directors of three different companies as well various studies from outside sources. The purpose is to urge business leaders to re-evaluate the way they approach digital transformation in the supply chain to close information gaps and provide value to the whole organization.
The challenges that companies face when digitally transforming the supply chain can often be self-inflicted. This paper will address those challenges and provide a structured approach to a successful transformation. It will also share insight from interviews conducted with the CIO and directors of three different companies as well various studies from outside sources. The purpose is to urge business leaders to re-evaluate the way they approach digital transformation in the supply chain to close information gaps and provide value to the whole organization.
ContributorsRamesh, Sanjana (Author) / Davila, Eddie (Thesis director) / Blackmer, Cindie (Committee member) / Department of Information Systems (Contributor, Contributor) / Department of Supply Chain Management (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05