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- All Subjects: Finance
- Creators: Dean, W.P. Carey School of Business
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
- Status: Published
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.
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.
Company X once dominated the server chip market, but its share has begun to diminish due to numerous competitors, product delays, and smaller profit margins. This market will only keep growing as advancement and demand for server technologies continues to expand, therefore, regaining market share is of utmost importance for Company X. This project analyzes how Company X can look into regaining server market share through a diversion of funds into emerging markets. The paper highlights the importance of being an early entrant into a relatively untapped, promising regional market by addressing the economics, potential consumers, and competition. Analysis of these factors shows the potential net present value (NPV) that can be achieved by increasing investments in India.
Cornhole, traditionally seen as tailgate entertainment, has rapidly risen in popularity since the launching of the American Cornhole League in 2016. However, it lacks robust quality control over large tournaments, since many of the matches are scored and refereed by the players themselves. In the past, there have been issues where entire competition brackets have had to be scrapped and replayed because scores were not handled correctly. The sport is in need of a supplementary scoring solution that can provide quality control and accuracy over large matches where there aren’t enough referees present to score games. Drawing from the ACL regulations as well as personal experience and testimony from ACL Pro players, a list of requirements was generated for a potential automatic scoring system. Then, a market analysis of existing scoring solutions was done, and it found that there are no solutions on the market that can automatically score a cornhole game. Using the problem requirements and previous attempts to solve the scoring problem, a list of concepts was generated and evaluated against each other to determine which scoring system design should be developed. After determining that the chosen concept was the best way to approach the problem, the problem requirements and cornhole rules were further refined into a set of physical assumptions and constraints about the game itself. This informed the choice, structure, and implementation of the algorithms that score the bags. The prototype concept was tested on their own, and areas of improvement were found. Lastly, based on the results of the tests and what was learned from the engineering process, a roadmap was set out for the future development of the automatic scoring system into a full, market-ready product.
The purpose of this project was to promote financial literacy amongst individuals in their 20s and empower them to take control of their finances. Statistics show society is lacking the financial knowledge to create a successful future and be able to one day retire debt free. My research details that by starting in your 20s and aiming for five simple, yet effective, goals one will be able to launch their success and do so reasonably. The thesis presentation details each of the five goals and outlines how to achieve each.