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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

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
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Description
The purpose of this creative project was to investigate the process a start-up or small business must complete to have a sell-able apparel product manufactured. The initial goal of the project was to experience the manufacturing process from start to finish and complete a full production run from a professional

The purpose of this creative project was to investigate the process a start-up or small business must complete to have a sell-able apparel product manufactured. The initial goal of the project was to experience the manufacturing process from start to finish and complete a full production run from a professional manufacturer. The conclusion found was that start-ups and small businesses will have to begin production within the United States.
ContributorsBour, Melissa (Author) / Sewell, Dennita (Thesis director) / Rogers, Dale (Committee member) / Ellis, Naomi (Committee member) / Dean, Herberger Institute for Design and the Arts (Contributor) / Department of Supply Chain Management (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description
The purpose of this paper is to review the effects of the Dodd-Frank Title VII Clearing Regulations on the Over-the-counter (OTC) derivatives market and to analyze if the benefits of the Title VII regulations have outweighed the costs in the OTC derivatives market by reducing systematic(market) risk and protecting market

The purpose of this paper is to review the effects of the Dodd-Frank Title VII Clearing Regulations on the Over-the-counter (OTC) derivatives market and to analyze if the benefits of the Title VII regulations have outweighed the costs in the OTC derivatives market by reducing systematic(market) risk and protecting market participants or if the Title VII regulations’ costs have made things worse by lessening opportunities in the OTC derivatives market and stifling economics benefits by over regulating the market. This paper strives to examine this issue by explaining how OTC are said to have played a part in the 2008 Financial crisis. Next, we give a general overview of financial securities, and what OTC are. Then we will give a general overview of what the Dodd-Frank Wall Street Reform and Consumer Protection Acts are, which are the regulations to come out of the 2008 Financial crisis. Then the paper will dive into Dodd-Frank Title VII Clearing Regulations and how they regulated OTC derivatives in the aftermath of the 2008 Financial crisis. Next, we discuss the Clearing House industry. Then the paper explores the major change of central clearing versus the previous bilateral clearing system. The paper will then cover how these rules have affected OTC derivatives market by examining the works of authors, who both support the regulations and others, who oppose the regulations by looking at logical arguments, historical evidence, and empirical evidence. Finally, we conclude that based on all the evidence how the Dodd-Frank Title VII Clearing Regulations effects on the OTC derivatives market are inconclusive at this time.
ContributorsCharette, John (Co-author) / Thacker, Harshit (Co-author) / Aragon, George (Thesis director) / Stein, Luke (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description
The following thesis discusses the primary drivers of value creation in a leveraged buyout. Value creation is defined by two broad criteria: enterprise value creation and financial value creation. With enterprise value creation, the company itself may be improved, which in turn may have positive implications on the economy at

The following thesis discusses the primary drivers of value creation in a leveraged buyout. Value creation is defined by two broad criteria: enterprise value creation and financial value creation. With enterprise value creation, the company itself may be improved, which in turn may have positive implications on the economy at large. As the analysis of enterprise value creation is outside the scope of publicly available information and data, the core focus of this thesis is financial value creation. Financial value creation is defined as the financial returns to a given private equity firm. Amongst this segment of value creation, there are roughly three primary categories responsible for generating returns: financial engineering, governance improvements, and operational improvements. The attached literature review and subsequent chapters of this thesis discuss the academic drivers of value creation and the outputs of a leveraged buyout model conducted on a public company, Schnitzer Steel, that has been determined to be an ideal candidate for a buyout.
ContributorsAlivarius, Chadwick (Author) / Simonson, Mark (Thesis director) / Stein, Luke (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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DescriptionThrough artist book, printed photographs, paintings, writing, and web design, August Tang deconstructed their identity as a nonbinary person. Both educational and expressive, the creative project was a manifestation of a coming out journey, affirmation of gender identity, and experiences relating to gender with friends, family, and strangers.
ContributorsTang, August B (Author) / Button, Melissa (Thesis director) / Sanft, Alfred (Committee member) / School of Art (Contributor) / Dean, W.P. Carey School of Business (Contributor) / The Design School (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description
SmartAid aims to target a small, yet relevant issue in a cost effective, easily replicable, and innovative manner. This paper outlines how to replicate the design and building process to create an intelligent first aid kit. SmartAid utilizes Alexa Voice Service technologies to provide a new and improved way to

SmartAid aims to target a small, yet relevant issue in a cost effective, easily replicable, and innovative manner. This paper outlines how to replicate the design and building process to create an intelligent first aid kit. SmartAid utilizes Alexa Voice Service technologies to provide a new and improved way to teach users about the different types of first aid kit items and how to treat minor injuries, step by step. Using Alexa and RaspberryPi, SmartAid was designed as an added attachment to first aid kits. Alexa Services were installed into a RaspberryPi to create a custom Amazon device, and from there, using the Alexa Interaction Model and the Lambda function services, SmartAid was developed. After the designing and coding of the application, a user guide was created to provide users with information on what items are included in the first aid kit, what types of injuries can be treated through first aid, and how to use SmartAid. The
application was tested for its usability and practicality by a small sample of students. Users provided suggestions on how to make the application more versatile and functional, and confirmed that the application made first aid easier and was something that they could see themselves using. While this application is not aimed to replace the current physical guide solution completely, the findings of this project show that SmartAid has potential to stand in as an improved, easy to use, and convenient alternative for first aid guidance.
ContributorsHasan, Bushra Anwara (Author) / Kobayashi, Yoshihiro (Thesis director) / Nakamura, Mutsumi (Committee member) / Computer Science and Engineering Program (Contributor) / Department of Psychology (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description

Whispers from Above is a creative project that aims to normalize the conversation and validate the emotional experience of grief, through the use of art therapies. Art therapy can be expressive in which someone creates their own work, such as visual art, poetry, performance, music, movement, etc. Art therapy can

Whispers from Above is a creative project that aims to normalize the conversation and validate the emotional experience of grief, through the use of art therapies. Art therapy can be expressive in which someone creates their own work, such as visual art, poetry, performance, music, movement, etc. Art therapy can also be receptive in which someone analyzes and understands someone else's artwork. This project was released on SoundCloud in order to make grief resources more accessible to all and to build an online community.<br/><br/>Whispers from Above worked with twelve poets, fifteen artists, six different interviewees, and multiple musicians to create a month of grief support. The finale piece of Whispers from Above was devised from the twenty-nine poems used within this month-long healing journey. All the individual poems were woven into a single devised poem to be presented as the final piece symbolizing that no one is alone in grief.<br/><br/>Whispers from Above is creative community exploration of grief, loss, and death in which we hope contributors, and listeners find solace and support. This series will exist on SoundCloud after March 27th, 2021 with a monthly release of a poem or interview accompanied by art, and music.

ContributorsWendlandt, Morgan Marie (Author) / Bowditch, Rachel (Thesis director) / Lynch, John M. (Committee member) / Sandoval, Mathew (Committee member) / School of Art (Contributor) / Department of Management and Entrepreneurship (Contributor) / School of Music, Dance and Theatre (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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

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
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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

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

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 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.

ContributorsAmundson, Tegan (Author) / Johnson, Tyler (Co-author) / Kam, Manton (Thesis director) / Nguyen, Andre (Committee member) / Barrett, The Honors College (Contributor) / Department of Management and Entrepreneurship (Contributor) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05