Matching Items (300)
- All Subjects: Finance
- All Subjects: engineering
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
This thesis provides an in-depth comparison of the attractiveness of leveraged buyout (LBO) transactions under low versus high interest rates. In particular, our analysis focuses on how London Interbank Offered Rates (LIBOR) affect internal rates of return for hypothetical LBO transactions, assuming financing structure and operational enhancements for the individual transactions are held constant. Given that LIBOR rates are currently at historically low levels, we model four hypothetical LBO transactions in the specialty retail space using both historically high and currently low LIBOR rates (for a total of eight model outputs). We quantify the extent to which high rates have the potential to decrease LBO value, while low rates may enhance value. Through this thesis, we have obtained a better understanding of LBO transaction modeling, an understanding that will make us more effective as professionals in investment banking. Finally, this thesis can serve as a step-by-step guide to LBOs for undergraduate finance students, particularly for members of the Investment Banking Industry Scholars (IBIS) program at Arizona State University.
Engineering education has long sought to incorporate greater diversity into engineering programs to prepare the profession to meet the engineering challenges of society. Increasing or retaining the conative diversity of engineering programs may help extend other kinds of diversity in the profession as well (Marburger, 2004). One measure of conation is the Kolbe ATM index.
Kolbe ATM is an index developed by Kathy Kolbe to measure the conative traits on an individual. The index assigns each individual a value in four categories, or Action Modes, that indicates their level of insistence on a scale of 1 to 10 in that Action Mode (Kolbe, 2004). The four Action Modes are:
• Fact Finder – handling of information or facts
• Follow Thru – need to pattern or organize
• Quick Start – management of risk or uncertainty
• Implementor – interaction with space or tangibles
The Kolbe A (TM) index assigns each individual a value that indicates their level of insistence with 1-3 representing resistant, preventing problems in a particular Action Mode; 4-6 indicating accommodation, flexibility in a particular Action Mode; and 7-10 indicating insistence in an Action Mode, initiating solutions in that Action Mode (Kolbe, 2004).
To promote retention of conative diversity, this study examines conative diversity in two engineering student populations, a predominately freshmen population at Chandler Gilbert Community College and a predominately junior population at Arizona State University. Students in both population took a survey that asked them to self-report their GPA, satisfaction with required courses in their major, Kolbe ATM conative index, and how much their conative traits help them in each of the classes on the survey. The classes in the survey included two junior level classes at ASU, Engineering Business Practices and Structural Analysis; as well as four freshmen engineering classes, Physics Lecture, Physics Lab, English Composition, and Calculus I.
This study finds that student satisfaction has no meaningful correlation with student GPA.
The study also finds that engineering programs have a dearth of resistant Fact Finders from the freshmen level on and losses resistant Follow Thrus and insistent Quick Starts as time progresses. Students whose conative indices align well with the structure of the engineering program tend to consider their conative traits helpful to them in their engineering studies. Students whose conative indices misalign with the structure of the program report that they consider their strengths less helpful to them in their engineering studies.
This study recommends further research into the relationship between satisfaction with major and conation and into perceived helpfulness of conative traits by students. Educators should continue to use Kolbe A (TM) in the classroom and perform further research on the impacts of conation on diversity in engineering programs.
The current model of revenue generation for some free to play video games is preventing the companies controlling them from growing, but with a few changes in approach these issues could be alleviated. A new style of video games, called a MOBA (Massive Online Battle Arena) has emerged in the past few years bringing with it a new style of generating wealth. Contrary to past gaming models, where users must either purchase the game outright, view advertisements, or purchase items to gain a competitive advantage, MOBAs require no payment of any kind. These are free to play computer games that provides users with all the tools necessary to compete with anyone free of charge; no advantages can be purchased in this game. This leaves the only way for users to provide money to the company through optional purchases of purely aesthetic items, only to be purchased if the buyer wishes to see their character in a different set of attire. The genre’s best in show—called League of Legends, or LOL—has spearheaded this method of revenue-generation. Fortunately for LOL, its level of popularity has reached levels never seen in video games: the world championships had more viewers than game 7 of the NBA Finals (Dorsey). The player base alone is enough to keep the company afloat currently, but the fact that they only convert 3.75% of the players into revenue is alarming. Each player brings the company an average of $1.32, or 30% of what some other free to play games earn per user (Comparing MMO). It is this low per player income that has caused Riot Games, the developer of LOL, to state that their e-sports division is not currently profitable. To resolve this issue, LOL must take on a more aggressive marketing plan. Advertisements for the NBA Finals cost $460,000 for 30 seconds, and LOL should aim for ads in this range (Lombardo). With an average of 3 million people logged on at any time, 90% of the players being male and 85% being between the ages of 16 and 30, advertising via this game would appeal to many companies, making a deal easy to strike (LOL infographic 2012). The idea also appeals to players: 81% of players surveyed said that an advertisement on the client that allows for the option to place an order would improve or not impact their experience. Moving forward with this, the gaming client would be updated to contain both an option to order pizza and an advertisement for Mountain Dew. This type of advertising was determined based on community responses through a sequence of survey questions. These small adjustments to the game would allow LOL to generate enough income for Riot Games to expand into other areas of the e-sports industry.
This work describes the numerical process developed for use of rocket engine nozzle ejectors. Ejector nozzles, while applied to jet engines extensively, have not been applied to rockets, and have great potential to improve the performance of endoatmospheric rocket propulsion systems. Utilizing the low pressure, high velocity flow in the plume, this secondary structure entrains a secondary mass flow to increase the mass flow of the propulsion system. Rocket engine nozzle ejectors must be designed with the high supersonic conditions associated with rocket engines. These designs rely on the numerical process described in this paper.
This paper provides evidence through an event study, portfolio simulation, and regression analysis that insider trading, when appropriately aggregated, has predictive power for abnormal risk-adjusted returns on some country and sector exchange traded funds (ETFs). I examine ETFs because of their broad scope and liquidity. ETF markets are relatively efficient and, thus, the effects I document are unlikely to appear in ETF markets. My evidence that aggregated insider trading predicts abnormal returns in some ETFs suggests that aggregated insider trading is likely to have predictive power for financial assets traded in less efficient markets. My analysis depends on specialized insider trading data covering 88 countries is generously provided by 2iQ.
This paper intends to inform the reader about the current state of crowdfunding, also known as crowdsourced funding, as of early May 2014. Crowdfunding has proven to be an interesting alternate to other more common financing vehicles with its ability to unite people over common ideas and projects without requiring the contribution of large amounts of capital. Further, the changing legal landscape invites a new era of deregulation that makes crowdfunding easier than ever before. This paper contains explanations of the different types of crowdfunding, platforms (websites), and the international landscape particularly of the US and Europe as well as statistics regarding the predicted future growth of the industry.
This paper takes a look at developing a technological start up revolving around the world of health and fitness. The entire process is documented, starting from the ideation phase, and continuing on to product testing and market research. The research done focuses on identifying a target market for a 24/7 fitness service that connects clients with personal trainers. It is a good study on the steps needed in creating a business, and serves as a learning tool for how to bring a product to market.
The purpose of this project is to determine the feasibility of a water tunnel designed to meet certain constraints. The project goals are to tailor a design for a given location, and to produce a repeatable design sizing and shape process for specified constraints. The primary design goals include a 1 m/s flow velocity in a 30cm x 30cm test section for 300 seconds. Secondary parameters, such as system height, tank height, area contraction ratio, and roof loading limits, may change depending on preference, location, or environment. The final chosen configuration is a gravity fed design with six major components: the reservoir tank, the initial duct, the contraction nozzle, the test section, the exit duct, and the variable control exit nozzle. Important sizing results include a minimum water weight of 60,000 pounds, a system height of 7.65 meters, a system length of 6 meters (not including the reservoir tank), a large shallow reservoir tank width of 12.2 meters, and height of 0.22 meters, and a control nozzle exit radius range of 5.25 cm to 5.3 cm. Computational fluid dynamic simulation further supports adherence to the design constraints but points out some potential areas for improvement in dealing with flow irregularities. These areas include the bends in the ducts, and the contraction nozzle. Despite those areas recommended for improvement, it is reasonable to conclude that the design and process fulfill the project goals.
A group project working to implemented programs in the Town of Gilbert that build an entrepreneurial ecosystem within the town.
My interest in this topic began last summer when I was fortunate enough to travel to Tomatin, Honduras on a microfinance mission with the organization Global Brigades. Microfinance previously an unknown concept to me, but once I saw the effect it had on the lives of those in need, I was immediately sold on its effectiveness. Microfinance stems from the field of developmental aid. While generally understood as one of the most powerful weapons in the fight against poverty, question as to which methods and techniques are the most effective are still unanswered. It is the goal of my thesis to examine the research in the area of microfinance, reveal the most effective methods, and apply these findings to improve the structure of the Global Brigade microfinance institution in Tomatin.