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- All Subjects: Finance
- Creators: Barrett, The Honors College
- Member of: Theses and Dissertations
Socioeconomic differences have driven society and laid the foundation for the types of opportunities and resources one is eligible to receive. Higher socioeconomic status provides individuals the chance of obtaining an overall better education, occupation, and income. We see this with particular clarity when we examine healthcare. The World Health Organization has regarded healthcare as a fundamental human right, except socioeconomically disadvantaged individuals not only do not have equal access to healthcare, but they also often receive a lower quality of care. These socioeconomic differences are often paired with racial differences, resulting in one group, or set of groups, having social advantage over the others. Although this problem has been discussed throughout the past century, it has not been properly addressed materially and practically. Unequal access to quality healthcare is especially highlighted throughout the COVID-19 pandemic, where there has been evidence that minorities, in particular Black communities, have received inadequate care. Quality healthcare has become unaffordable and a luxury that only certain groups get the privilege of receiving. Not only that, but the ongoing inequalities in the healthcare system have gone so far that they have instilled hostility and mistrust towards the healthcare system.
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.
The Covid-19 pandemic has made a significant impact on both the stock market and the<br/>global economy. The resulting volatility in stock prices has provided an opportunity to examine<br/>the Efficient Market Hypothesis. This study aims to gain insights into the efficiency of markets<br/>based on stock price performance in the Covid era. Specifically, it investigates the market’s<br/>ability to anticipate significant events during the Covid-19 timeline beginning November 1, 2019<br/><br/>and ending March 31, 2021. To examine the efficiency of markets, our team created a Stay-at-<br/>Home Portfolio, experiencing economic tailwinds from the Covid lockdowns, and a Pandemic<br/><br/>Loser Portfolio, experiencing economic headwinds from the Covid lockdowns. Cumulative<br/>returns of each portfolio are benchmarked to the cumulative returns of the S&P 500. The results<br/>showed that the Efficient Market Hypothesis is likely to be valid, although a definitive<br/>conclusion cannot be made based on the scope of the analysis. There are recommendations for<br/>further research surrounding key events that may be able to draw a more direct conclusion.
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.
The COVID-19 pandemic has and will continue to radically shift the workplace. An increasing percentage of the workforce desires flexible working options and, as such, firms are likely to require less office space going forward. Additionally, the economic downturn caused by the pandemic provides an opportunity for companies to secure favorable rent rates on new lease agreements. This project aims to evaluate and measure Company X’s potential cost savings from terminating current leases and downsizing office space in five selected cities. Along with city-specific real estate market research and forecasts, we employ a four-stage model of Company X’s real estate negotiation process to analyze whether existing lease agreements in these cities should be renewed or terminated.
The COVID-19 pandemic has and will continue to radically shift the workplace. An increasing percentage of the workforce desires flexible working options and, as such, firms are likely to require less office space going forward. Additionally, the economic downturn caused by the pandemic provides an opportunity for companies to secure favorable rent rates on new lease agreements. This project aims to evaluate and measure Company X’s potential cost savings from terminating current leases and downsizing office space in five selected cities. Along with city-specific real estate market research and forecasts, we employ a four-stage model of Company X’s real estate negotiation process to analyze whether existing lease agreements in these cities should be renewed or terminated.
Expectation for college attendance in the United States continues to rise as more jobs require degrees. This study aims to determine how parental expectations affect high school students in their decision to attend college. By examining parental expectations that were placed on current college students prior to and during the application period, we can determine the positive and negative outcomes of these expectations as well as the atmosphere they are creating. To test the hypothesis, an online survey was distributed to current ASU and Barrett, Honors College students regarding their experience with college applications and their parents' influence on their collegiate attendance. A qualitative analysis of the data was conducted in tandem with an analysis of several case studies to determine the results. These data show that parental expectations are having a significant impact on the enrollment of high school students in college programs. With parents placing these expectations on their children, collegiate enrollment will continue to increase. Further studies will be necessary to determine the specific influences these expectations are placing on students.