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- Member of: Barrett, The Honors College Thesis/Creative Project Collection
- Status: Published
Description
This thesis takes the form of a market research report with the goal of analyzing the implications of the United Kingdom (UK) leaving the European Union (EU) (known as “Brexit”) on London’s office commercial real estate market. The ultimate goal of this report is to make a prediction, firmly grounded in quantitative and qualitative research conducted over the past several months, as to the direction of London’s commercial real estate market going forward (post-Brexit). Within the commercial real estate sector, this paper narrows its focus to the office segment of the London market.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
ContributorsHorn, Jonathan (Co-author) / Sidi, Adam (Co-author) / Bonadurer, Werner (Thesis director) / McDaniel, Cara (Committee member) / Department of Finance (Contributor) / School of Politics and Global Studies (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
The foundations of legacy media, especially the news media, are not as strong as they once were. A digital revolution has changed the operation models for and journalistic organizations are trying to find their place in the new market. This project is intended to analyze the effects of new/emerging technologies on the journalism industry. Five different categories of technology will be explored. They are as follows: the semantic web, automation software, data analysis and aggregators, virtual reality and drone journalism. The potential of these technologies will be broken up according to four guidelines, ethical implications, effects on the reportorial process, business impacts and changes to the consumer experience. Upon my examination, it is apparent that no single technology will offer the journalism industry the remedy it has been searching for. Some combination of emerging technologies however, may form the basis for the next generation of news. Findings are presented on a website that features video, visuals, linked content, and original graphics. Website found at http://www.explorenewstech.com/
ContributorsMaxwell, Gavin William (Author) / McGuire, Tim (Thesis director) / Cornelius, David (Committee member) / Walter Cronkite School of Journalism and Mass Communication (Contributor) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
The abortion debate has been a heated topic since the early 1970's when the monumental case, Roe v. Wade was decided. Roe v. Wade, along side of it's sister case Doe v. Bolton, ruled that no law restricting abortion could be passed and set the precedent that life did not exist before birth. Before this time, people were largely unaware of what life inside the womb looked like and therefore had no reason to believe that life truly began at conception. As medical technology has revealed more about life inside the womb, the pro-life movement has been tasked with the uphill battle to shift the discussion around the topic. Because people now spend so much time using various forms of technology, it has become an effective way for groups and organizations to come in contact with large amounts of people. This is something the pro-life group has not only done, but has excelled at. By successfully utilizing advancing technology combined with new medical tools and discoveries, the pro-life movement has successfully gained an increasingly large momentum and following in a relatively short amount of time. Recognizing that technology alone does not have the ability to change people's hearts, but must be backed up with arguments and strong evidence, this paper will explore the medical advances that helped drive pro-life arguments, the technological advances that have become a platform to disseminate this information, and ways the pro-life movement has utilized each new form of technology. Lastly, this paper will explore the amount of growth the pro-life movement has experienced since the early 1970's. In the end, the pro-life movement has successfully combined all these different advances to create a movement that has reached a vast audience and gained exponential awareness and momentum. They have used everything from social media, the Internet, and videos to spread the truth about abortion. As a result, minds are being changed, people are driven into action, and babies are being saved.
ContributorsSnyder, Lorne Lynn (Author) / Critchlow, Donald (Thesis director) / Anderson, Owen (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / School of Politics and Global Studies (Contributor)
Created2014-12
Description
Dodd-Frank should be celebrated for its success in stabilizing the financial sector following the last financial crisis. Some of its measures have not only contained financial disaster but contributed to economic growth. These elements of Dodd-Frank have been identified as "clear wins" and include the increase of financial institutions' capital requirements, the single-point-of-entry approach to regulating financial firms, and the creation of the Consumer Financial Protection Bureau (CFPB). The single-point-of-entry strategy (SPOE), specifically, has done much to bring an end to the age of "too big to fail" institutions. By identifying firms that could expect to be aided in case of financial crisis, the SPOE approach reduces uncertainty among financial institutions. Moreover, SPOE eliminates the significant source of risk by establishing clear protocols for resolving failed financial firms. Dodd-Frank has also taken measures to better protect consumers with the creation of the CFPB. Some of the CFPB's stabilizing actions have included the removal of deceptive financial products, setting guidelines for qualified mortgages, and other regulatory safeguards on money transfers. Despite the CFPB's many triumphs, however, there is room for improvement, especially in the agency's ability to reduce regulatory redundancies in supervision and collaboration with other financial sector controllers. The significant strengths of Dodd-Frank are evident in its elements that have secured financial stability. However, it is important to also consider any potential to stifle healthy economic growth. There are several areas for legislative amendments and reforms in order to improve the performance of Dodd-Frank given its sweeping regulatory impact. Several governing redundancies now exist with the creation of new regulatory authorities. Special efforts to increase the authority of the Financial Sector Oversight Council (FSOC) and preserving the impartiality of the Office of Financial Research (OFR) are specific examples of reforms still needed to elevate the effectiveness of Dodd-Frank. In addition, Dodd-Frank could do more to clarify the Volcker Rule in order to ease banks' burden to comply with excessive oversight. Going forward, policymakers must be willing to adjust parts of Dodd-Frank that encroach too far on the private sector's ability to foster efficiency or development. In addition, identifying and monitoring areas of the legislation deemed "too soon to tell" will provide insight on the accuracy and benefit of some Dodd-Frank measures.
ContributorsConrad, Cody Lee (Author) / Sadusky, Brian (Thesis director) / Hoffman, David (Committee member) / School of Politics and Global Studies (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
The focus shift towards Silicon Valley and similar ecosystems in the past decade, the recent boom in startups and entrepreneurship, and the resurgence of venture capital funding is fueling rapid advancement of modern technologies, such as software, biotechnology, and renewable energy. One facet of the growing entrepreneurial landscape features healthcare technology—a field of research centered upon various technical advances in medicine, software, and hardware. Trends in healthcare technology commercialization represent a promising opportunity for disruption in the healthcare industry. The integration of rapidly iterating software with medical research, timed perfectly with the passage of the Affordable Care Act and the boom of venture capital investment in both Big Data and mobile technology, has the healthcare technology primed for explosive growth over the next decade. Investment data indicates that strong public market activity in the past year will continue to fuel venture capital growth in both the biotechnology and digital health sectors, with the potential for multiple large exits by life sciences companies, more than even software, in the coming year.
ContributorsPatel, Nisarg (Co-author) / Yun, Kwanho (Co-author) / Wang, Xiao (Thesis director) / Marchant, Gary (Committee member) / Peck, Sidnee (Committee member) / Barrett, The Honors College (Contributor) / Department of Management (Contributor) / School of Politics and Global Studies (Contributor) / School of Life Sciences (Contributor)
Created2014-05
Description
This paper explores the history of sovereign debt default in developing economies and attempts to highlight the mistakes and accomplishments toward achieving debt sustainability. In the past century, developing economies have received considerable investment due to higher returns and a degree of disregard for the risks accompanying these investments. As the former Citibank chairman, Walter Wriston articulated, "Countries don't go bust" (This Time is Different, 51). Still, unexpected negative externalities have shattered this idea as the majority of developing economies follow a cyclical pattern of default. As coined by Reinhart and Rogoff, sovereign governments that fall into this continuous cycle have become known as serial defaulters. Most developed markets have not defaulted since World War II, thus escaping this persistent trap. Still, there have been developing economies that have been able to transition out of serial defaulting. These economies are able to leverage debt to compound growth without incurring the protracted consequences of a default. Although the cases are few, we argue that developing markets such as Chile, Mexico, Russia, and Uruguay have been able to escape this vicious cycle. Thus, our research indicates that collaborative debt restructurings coupled with long term economic policies are imperative to transitioning out of debt intolerance and into a sustainable debt position. Successful economies are able to leverage debt to create strong foundational growth rather than gambling with debt in the hopes of achieving rapid catch- up growth.
ContributorsPitt, Ryan (Co-author) / Martinez, Nick (Co-author) / Choueiri, Robert (Co-author) / Goegan, Brian (Thesis director) / Silverman, Daniel (Committee member) / Department of Economics (Contributor) / Department of Information Systems (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / School of Politics and Global Studies (Contributor) / W. P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2015-12
Description
This study analyzed currently existing statute at the state, federal, and international level to ultimately build a criteria of recommendations for policymakers to consider when building regulations for facial recognition technology usage by law enforcement agencies within the United States.
ContributorsHong, Susan Suggi (Author) / Royal, K (Thesis director) / Marchant, Gary (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / School of Politics and Global Studies (Contributor, Contributor) / Historical, Philosophical & Religious Studies, Sch (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
When, in 1958, Disney aired a program titled “Magic Highway USA” featuring autonomous vehicles directed by punch-cards, few would have predicted touchscreen reprogrammable devices. None could have foreseen a battery powered car capable of fully autonomous operation and a zero to sixty mph acceleration in 1.9 seconds. The 21st century has proven to be one of exponential technological advancement and stunning innovation, with few case studies more obvious than that of the progression of autonomous vehicle (AV) technology. Advances in transportation technology and robotics have, throughout history, pointed to the eventual development of fully autonomous vehicles; however, it is only within the last 10 years that innovation has met determination to leapfrog AV development to its current state. As this technology has developed, society has begun to realize its extensive social implications, both positive and negative, from extending mobility to the impaired to reducing the need to fill jobs in the transportation industry. With progress comes new challenges and as planners strive to get ahead of the pace of AV innovation, it is becoming increasingly apparent that questions of data security, privacy, regulation, and liability must be quickly addressed. Some also question the economic feasibility of AV and suggest that, unless new economic models are developed around the transportation industry, there is a significant risk of increased societal strain as a result of digital and economic inequality. As a consequence, industry, academia, and policy have all emerged to direct, manage, and govern this new and exciting space. Autonomous vehicles promise to move the world into a new era of almost limitless potential but only if society, industry, and policy are capable of moving with it.
ContributorsGalvin, Sarah Nicole (Author) / Krause, Stephen (Thesis director) / Anwar, Shahriar (Committee member) / School of Politics and Global Studies (Contributor) / Materials Science and Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
This project looks at the impact that the internet has had on society, and how it has shaped the way that digitally native generations live their lives. More specifically, this thesis showcases what it means for younger generations to be digitally native and how engaging with technology while growing up affects the way that these individuals experience contemporary adolescence. Generation X is said to be the last group of people to experience life before the spread of the personal computer and internet access. Newer generations, such as Generation Z, have grown up having constant and easy access to the internet, all of the information it encompasses, and its additional functions. This access has shaped much of the generation as individuals as well as society as a whole. It can be argued that the human experience has been fundamentally different for those born after the creation of the internet and the rapid increase in accessible technology that followed. Through an interview with a participant from Generation X, I will showcase the transformative role that the internet and technology has played in major life events for a digitally native individual compared to that of individuals from older generations. As a member of Generation Z, I will compare my personal narrative regarding ten different life events occurring between the ages of five to 25 that I feel are common and impactful to the narrative a of non-digitally native individual. I expect to see that the internet and the creation of cyber culture that we see through social media has enhanced many of the defining events for younger generations growing up in some positive ways as well as some negative ways. Thus, growing up only knowing the internet and its purposes has altered the way that our experiences play out as we age, for good and for bad.
ContributorsTomchak, Marissa Janine (Author) / Ingram-Waters, Mary (Thesis director) / Brian, Jennifer (Committee member) / Department of Psychology (Contributor) / School of Politics and Global Studies (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
In the end, an increase in repurchases of company stock will also influence the rate of dividends to increase. This means, an investor should not necessarily worry about the dividends they receive, but rather to see if the company is making profit at a consistent rate and reinvesting into value-added activities. Through the major pillars of finance, technology, legal, and human resources, the budget for reinvestment can be optimized by investing into these respective categories with percentages that are mindful of the specific companies needs and functions. Any firm that chooses to ensure proven methods of growth will enact a combination of these four verticals. A larger emphasis on finance will branch out efficiency in the entire organization, as finance control everything from the toilet paper to the acquisitions the company is making. The more technology is used to reduce redundancy and inefficient or costly operations, the more capability the organization will have. IT, however, comes with its technical challenges; having a team on-hand or even outsourced, to solve the critical problems to help the business continue operation. Over-reliance into technology can be detrimental to a business as well if clear processes are not set about straight to counteract problems the business will face like IT ticketing systems or recovery and continuity support. Therefore, technology will require a larger chunk of attention as well.
The upcoming legal and HR investments a company will make will depend upon its current position and thus the restructuring will differ for every firm. Each company has its own flavour and style of work. In that regard, the required legal counsel will vary; different problems will require different solutions for risk control and management, which are often professionally advised by intelligent corporate counsel. This ability to hire efficient legal counsel would not arise in the first place if a firm were to give out dividends; the leftover profit would have gone towards the shareholders and not back into growing the equity of the business. Lastly, nothing is possible without the contribution of people, and their efforts. A quality that long-lasting, successful businesses have, is they are investing in their people and development. Paying salaries, insurances, bonuses, all requires extra capital that is needed to be set aside in order to grow human capital. Good people, better people. There are qualities for each role that need to be defined and a process for attracting talent needs to be invested in. This process can also include outsourcing to an external firm who specializes in these strategies. By retaining profits internally, the company is able to stretch its legs to have further reach upon the market they work in. Financially and statistically, dividends are likely to grow as well with the increase in equity due to the increase in security an investor feels with more cash reserve and liquidity within the company.
All in all, a company should not be pressured into giving out periodic payments in predetermined timeframes, in other words a dividend, to investors even when they are insisting. Rather, pitch and prove, a new method for reinvestment within the company that will raise the value of the company, through proven methods like the value chain model, to increase the equity in the company. By expanding the scope and capability, the company is allowing for a larger target market which will reap more benefits; none of it would be possible if it had continued to give out large percentages of capital to investors as dividends. Companies, and investors, should not be worried about dividends at all as a matter of fact; an increase in stock buyback, in other words reinvesting into the company, will increase the rate of dividends anyway, due to increased confidence and capital within the company.
ContributorsKabra, Dev (Author) / Ahern, James (Thesis director) / Kabra , J. (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / School of Politics and Global Studies (Contributor) / Department of Finance (Contributor)
Created2022-05