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I study the performance of hedge fund managers, using quarterly stock holdings from 1995 to 2010. I use the holdings-based measure built on Ferson and Mo (2012) to decompose a manager's overall performance into stock selection and three components of timing ability: market return, volatility, and liquidity. At the aggregate

I study the performance of hedge fund managers, using quarterly stock holdings from 1995 to 2010. I use the holdings-based measure built on Ferson and Mo (2012) to decompose a manager's overall performance into stock selection and three components of timing ability: market return, volatility, and liquidity. At the aggregate level, I find that hedge fund managers have stock picking skills but no timing skills, and overall I do not find strong evidence to support their superiority. I show that the lack of abilities is driven by the large fluctuations of timing performance with market conditions. I find that conditioning information, equity capital constraints, and priority in stocks to liquidate can partly explain the weak evidence. At the individual fund level, bootstrap analysis results suggest that even top managers' abilities cannot be separated from luck. Also, I find that hedge fund managers exhibit short-horizon persistence in selectivity skill.
ContributorsKang, MinJeong (Author) / Aragon, George O. (Thesis advisor) / Hertzel, Michael G (Committee member) / Boguth, Oliver (Committee member) / Arizona State University (Publisher)
Created2013
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Teacher attrition and the migration between schools and districts can have a negative impact on quality of education and teacher performance. Novice teachers leave the profession because they are overwhelmed by the workload and responsibilities of the job. In a previous action research cycle, I found that novice teachers' perceptions

Teacher attrition and the migration between schools and districts can have a negative impact on quality of education and teacher performance. Novice teachers leave the profession because they are overwhelmed by the workload and responsibilities of the job. In a previous action research cycle, I found that novice teachers' perceptions of isolation and lack of opportunities to share experiences had a negative effect on teacher perceptions of efficacy. This action research project examines the effect of leveraging social media and professional learning communities to provide opportunities for a group of novice teachers to share experiences and seek advice. By addressing the challenges that novice teachers face and providing solutions for common problems, it is the hope of this researcher that highly effective teachers will remain in the classroom. The results of the study indicate that the combined use of Twitter and YouTube in collaboration with professional learning communities will improve teacher perceptions of efficacy. Teachers who participated in the social media based professional learning communities are also more likely to remain in the classroom.
ContributorsBostick, Bradley Alan (Author) / Zambo, Ronald (Thesis advisor) / Heck, Thomas (Committee member) / Isai, Shelley (Committee member) / Arizona State University (Publisher)
Created2013
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Description
Social media offers a powerful platform for the independent digital content producer community to develop, disperse, and maintain their brands. In terms of information systems research, the broad majority of the work has not examined hedonic consumption on Social Media Sites (SMS). The focus has mostly been on the organizational

Social media offers a powerful platform for the independent digital content producer community to develop, disperse, and maintain their brands. In terms of information systems research, the broad majority of the work has not examined hedonic consumption on Social Media Sites (SMS). The focus has mostly been on the organizational perspectives and utilitarian gains from these services. Unlike through traditional commerce channels, including e-commerce retailers, consumption enhancing hedonic utility is experienced differently in the context of a social media site; consequently, the dynamic of the decision-making process shifts when it is made in a social context. Previous research assumed a limited influence of a small, immediate group of peers. But the rules change when the network of peers expands exponentially. The assertion is that, while there are individual differences in the level of susceptibility to influence coming from others, these are not the most important pieces of the analysis--unlike research centered completely on influence. Rather, the context of the consumption can play an important role in the way social influence factors affect consumer behavior on Social Media Sites. Over the course of three studies, this dissertation will examine factors that influence consumer decision-making and the brand personalities created and interpreted in these SMS. Study one examines the role of different types of peer influence on consumer decision-making on Facebook. Study two observes the impact of different types of producer message posts with the different types of influence on decision-making on Twitter. Study three will conclude this work with an exploratory empirical investigation of actual twitter postings of a set of musicians. These studies contribute to the body of IS literature by evaluating the specific behavioral changes related to consumption in the context of digital social media: (a) the power of social influencers in contrast to personal preferences on SMS, (b) the effect on consumers of producer message types and content on SMS at both the profile level and the individual message level.
ContributorsSopha, Matthew (Author) / Santanam, Raghu T (Thesis advisor) / Goul, Kenneth M (Committee member) / Gu, Bin (Committee member) / Arizona State University (Publisher)
Created2013
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Description
I show that firms' ability to adjust variable capital in response to productivity shocks has important implications for the interpretation of the widely documented investment-cash flow sensitivities. The variable capital adjustment is sufficient for firms to capture small variations in profitability, but when the revision in profitability is relatively large,

I show that firms' ability to adjust variable capital in response to productivity shocks has important implications for the interpretation of the widely documented investment-cash flow sensitivities. The variable capital adjustment is sufficient for firms to capture small variations in profitability, but when the revision in profitability is relatively large, limited substitutability between the factors of production may call for fixed capital investment. Hence, firms with lower substitutability are more likely to invest in both factors together and have larger sensitivities of fixed capital investment to cash flow. By building a frictionless capital markets model that allows firms to optimize over fixed capital and inventories as substitutable factors, I establish the significance of the substitutability channel in explaining cross-sectional differences in cash flow sensitivities. Moreover, incorporating variable capital into firms' investment decisions helps explain the sharp decrease in cash flow sensitivities over the past decades. Empirical evidence confirms the model's predictions.
ContributorsKim, Kirak (Author) / Bates, Thomas (Thesis advisor) / Babenko, Ilona (Thesis advisor) / Hertzel, Michael (Committee member) / Tserlukevich, Yuri (Committee member) / Arizona State University (Publisher)
Created2013
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This qualitative case study of 12, eighteen to twenty-four-year-olds from seven countries provided insight into the learning practices on an art-centered, social media platform. The study addressed two guiding questions; (a) what art related skills, knowledge, and dispositions do community members acquire using a social media platform? (b), What new

This qualitative case study of 12, eighteen to twenty-four-year-olds from seven countries provided insight into the learning practices on an art-centered, social media platform. The study addressed two guiding questions; (a) what art related skills, knowledge, and dispositions do community members acquire using a social media platform? (b), What new literacy practices, e.g., the use of new technologies and an ethos of participation, collective intelligence, collaboration, dispersion of abundant resources, and sharing (Knobel & Lankshear, 2007), do members use in acquiring of art-related skills, concepts, knowledge, and dispositions? Data included interviews, online documents, artwork, screen capture of online content, threaded online discussions, and a questionnaire. Drawing on theory and research from both new literacies and art education, the study identified five practices related to learning in the visual arts: (a) practicing as professional artists; (b) engaging in discovery based search strategies for viewing and collecting member produced content; (c) learning by observational strategies; (d) giving constructive criticism and feedback; (e) making learning resources. The study presents suggestions for teachers interested in empowering instruction with new social media technologies.
ContributorsJones, Brian (Author) / Stokrocki, Mary (Thesis advisor) / Young, Bernard (Committee member) / Guzzetti, Barbara (Committee member) / Arizona State University (Publisher)
Created2012
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Description
The Dodd-Frank Act was created to promote financial stability in the United States. However, no one is quite sure what it is yet. While action had to be taken and Dodd-Frank has some positives, Dodd-Frank, as it is deciphered today, has severe drawbacks. Since Dodd-Frank is only in its infancy,

The Dodd-Frank Act was created to promote financial stability in the United States. However, no one is quite sure what it is yet. While action had to be taken and Dodd-Frank has some positives, Dodd-Frank, as it is deciphered today, has severe drawbacks. Since Dodd-Frank is only in its infancy, it is difficult to form an interim conclusion about its effects on agricultural lending at this point. After passing Dodd-Frank in 2010, the government began trying to figure out what it means. Four years later, they are still trying and are about half way through making the rules. This law essentially replaces Glass-Steagall, which was repealed several years ago. Many believe repealing Glass-Steagall was a big reason for the financial collapse of 2008. While Glass-Steagall was a short, easily understood document, Dodd Frank adds many more regulations and pages. This creates a long, bulky, confusing law that seems to be extremely tough to comprehend legally or as a banker. In this study, I try to balance the positives and negatives of Dodd-Frank to understand if it is more detrimental or beneficial to agricultural lending. While we find that Dodd-Frank does help keep banks from some of the risky investments that many believe led to the financial crisis, the added paperwork, compliance costs, and strain it puts on small banks can be worrisome. I interviewed several agriculture-lending professionals who regularly deal with the rules and regulations of Dodd-Frank to discover the impact the new law has on banks, their customers, and the economy as a whole. These interviews give insight into what Dodd-Frank means to the agriculture-lending market and what changes have had to occur since the law was passed. These interviews demonstrate that Dodd-Frank is largely looked down upon by the banking industry. The professionals interviewed are very experienced. After the extensive research, interviews, and discoveries that came of this study, it was concluded that Dodd-Frank seems to hurt the lending industry much more than it helps. One major concern is the strain Dodd-Frank puts on small banks and how it makes "too big to fail" banks even bigger.
ContributorsBettencourt, Bradley D (Author) / Thor, Eric (Thesis advisor) / Manfredo, Mark (Committee member) / Englin, Jeff (Committee member) / Arizona State University (Publisher)
Created2014
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This dissertation research analyzes the vernacular cosmopolitan praxis of Muslim women in transnational cyberspaces related to topical and collective action networks, in an effort to detangle cosmopolitanism from its Western biases and to move away from studies of online Muslim populations based on geographical locations or homogenous networks, linking individuals

This dissertation research analyzes the vernacular cosmopolitan praxis of Muslim women in transnational cyberspaces related to topical and collective action networks, in an effort to detangle cosmopolitanism from its Western biases and to move away from studies of online Muslim populations based on geographical locations or homogenous networks, linking individuals through their religious practices or consumption of religious knowledge. Through highlighting praxes rather than contexts, this dissertation disrupts the East/West binary and challenges stereotypes ascribed to Muslim women. One of the research questions related to the cosmopolitan praxis of Muslim women is the following: in what ways do Muslim women engage with "others" online and contribute to bridging dissimilar people? Findings suggest that the social media use of Muslim women contributes to their subtle resistance against communal norms and, although it can serve as an extension to their voices, some of their voices are more readily mediated than others. I employ a connective content analysis methodology to put various datasets associated with topics and collective actions related to Muslim women into conversation. The methodology not only highlights consistencies in the qualitative themes that were iteratively developed through the analyses of the datasets, but also more tangible connections related to social media users, topics, and content. Consequently, this thesis is as much concerned with recasting Western-oriented conceptualizations of cosmopolitanism as it is with how networks dynamics foster and constrain cosmopolitan praxis because digital networks have the extraordinary capacity to link dissimilar people beyond any other type of medium. One of the research questions related to the methodology is: how do network dynamics facilitate and constrain cosmopolitan praxis? The substantive chapters related to the datasets discuss various forms of cosmopolitan praxis that were identified in the analysis: social media use by Muslim women that expands the connective memory, which could contribute to dispelling stereotypes ascribed to them; activism that addresses universal concerns related to women's rights regardless of context; dialogically devising basic standards of social conduct and gender relations; and expressions of tolerance toward divergent views, including alternative interpretations of Islamic beliefs and practices.
ContributorsRobinson, Rebecca S (Author) / Lim, Merlyna (Thesis advisor) / Ali, Souad T. (Committee member) / Parmentier, Mary Jane C, (Committee member) / Arizona State University (Publisher)
Created2014
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One theoretical research topic in organizational economics is the information issues raised in different organizations. This has been extensively studied in last three decades. One common feature of these research is focusing on the asymmetric information among different agents within one organization. However, in reality, we usually face the following

One theoretical research topic in organizational economics is the information issues raised in different organizations. This has been extensively studied in last three decades. One common feature of these research is focusing on the asymmetric information among different agents within one organization. However, in reality, we usually face the following situation. A group of people within an organization are completely transparent to each other; however, their characters are not known by other organization members who are outside this group. In my dissertation, I try to study how this information sharing would affect the outcome of different organizations. I focus on two organizations: corporate board and political parties. I find that this information sharing may be detrimental for (some of) the members who shared information. This conclusion stands in contrast to the conventional wisdom in both corporate finance and political party literature.
ContributorsWu, Zhenhua (Author) / Friedenberg, Amanda (Thesis advisor) / Manelli, Alejandro (Committee member) / Chade, Hector (Committee member) / Arizona State University (Publisher)
Created2014
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Attack of the Fake Geek Girls: Challenging Gendered Harassment and Marginalization in Online Spaces applies feminist, gender, and rhetorical theories and methods, along with critical discourse analysis, to case studies of the popular online social media platforms of Jezebel, Pinterest, and Facebook. This project makes visible the structural inequities that

Attack of the Fake Geek Girls: Challenging Gendered Harassment and Marginalization in Online Spaces applies feminist, gender, and rhetorical theories and methods, along with critical discourse analysis, to case studies of the popular online social media platforms of Jezebel, Pinterest, and Facebook. This project makes visible the structural inequities that underpin the design and development of internet technologies, as well as commonplace assumptions about who is an online user, who is an active maker of internet technologies, and who is a passive consumer of internet technologies. Applying these critical lenses to these inequities and assumptions enables a re-seeing of commonplace understandings of the relationship between gender performativity and digital cultures and practices. Together, these lenses provide a useful set of tools for methodically resisting the mystique of technologies that are, simultaneously, represented as so highly technical as to be opaque to scrutiny, and as ubiquitous to everyday life as to be beneath critical examination.

Through a close reading of the discourses surrounding these popular social media platforms and a rhetorical analysis of their technological affordances, I documented the transference of gender-biased assumptions about women's roles, interests, and competencies, which have historically been found in face-to-face contexts, to these digital spaces. For example, cultural assumptions about the frivolity of women's interests, endeavors, issues, and labors make their way into digital discourse that situates the online practices of women as those of passive consumers who use the internet only to shop and socialize, rather than to go about the serious, masculine business of making original digital content.

This project expands on existing digital identity and performativity research, while applying a sorely needed feminist critique to online discourses and discursive practices that assume maleness and masculinity as the default positionality. These methods are one approach to addressing the pressing problems of online harassment, the gender gap in the technology sector, and the gender gap in digital literacies that have pedagogical, political, and structural implications for the classroom, workplace, economic markets, and civic sphere.
ContributorsTekobbe, Cindy (Author) / Miller, Keith D. (Thesis advisor) / Rose, Shirley K. (Committee member) / Boyd, Patricia (Committee member) / Arizona State University (Publisher)
Created2015
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Financing lease has bloomed as a new financing tool in China for the last several years. In this thesis I investigate the factors that influence China’s automobile financial leasing decisions by both lessors and lessees through market surveys. Based on Probit regression analysis of the data collected from 250 companies

Financing lease has bloomed as a new financing tool in China for the last several years. In this thesis I investigate the factors that influence China’s automobile financial leasing decisions by both lessors and lessees through market surveys. Based on Probit regression analysis of the data collected from 250 companies and 300 individuals, I find that a firm is more likely to use automobile financial leasing when its corporate tax rate is lower, growth potential is more stabilized, and profit is higher. It is also more likely to happen when a firm's long-term debt ratio and its degree of internationalization are higher. At the individual level, I find that the likelihood of individuals’ leasing decision is influenced by their risk preference, income level, and car price. Individuals’ gender, age and education level show no effect.

Using the analytic hierarchy process (AHP) analysis, I further find that financing costs, service value-added, and products diversity are the three most important competitive factors for the auto financial leasing service providers. This is the case for both the corporate and individual customers in the sample. By contrast, the factors of sales channel and government relationship are found to be much less important. Finally, through an in-depth case study of the leasing company Shanghai Auto Financial Leasing, I find that the key factors determining the customers’ credit default risk are interest rate and automobile type. I also investigate factors that influence business risk during the automobile procurement stage, at the selling stage, and toward the disposition stage. The managerial implications of the above results are discussed throughout the thesis.
ContributorsLin, Zhen, Ph.D (Author) / Zhang, Anming (Thesis advisor) / Pei, Ker-Wei (Thesis advisor) / Chen, Hong (Committee member) / Arizona State University (Publisher)
Created2015