Matching Items (5)

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Automation In The Insurance Industry

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The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an

The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an intern at State Farm. I completed a project that was a massive data entry job and made it into a process that took clicking three buttons to finish. Although just one example, it was clear that State Farm as well as the insurance industry in general are not utilizing automation and machine learning. The adaptation of automation and machine learning will have internal and external benefits for insurance companies like increased efficiencies in business processes and increased customer satisfaction. However, to realize these external and internal benefits, companies, like State Farm, must implement an adhocratic culture where risk taking is incentivized, and companies must invest resources into their underwriting processes, rather through internal investment or an acquisition, to automate the process.

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Date Created
  • 2021-05

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Mirabella at ASU: Insight, Integration, and Impact of University Based Retirement Communities

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Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

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Date Created
  • 2021-05

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Mirabella at ASU: Insight, Integration, and Impact of University Based Retirement Communities

Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

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Created

Date Created
  • 2021-05

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Mirabella at ASU: Insight, Integration and Impact of University Based Retirement Communities

Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

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Created

Date Created
  • 2021-05

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Essays in Financial Economics

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The dissertation consists of three essays in financial economics. In the first essay, using historical prices for futures contracts tied to U.S. election outcomes, I develop a measure of firm-level

The dissertation consists of three essays in financial economics. In the first essay, using historical prices for futures contracts tied to U.S. election outcomes, I develop a measure of firm-level partisan exposure. This measure captures the sensitivity of a firm's stock return to the changes in the odds of winning by a Democratic presidential candidate. I find that political beta is significantly lower in regulated industries and that it takes more extreme values for smaller and more highly levered firms. Finally, I document that firms with high political beta earn 4.0% higher annual buy-and-hold abnormal returns under Republican presidencies than firms with low political beta. The second essay studies mean monthly returns and compound long-run returns to over 64,000 global common stocks during the January 1990 to June 2020 period. The important practical distinctions between arithmetic, geometric, and dollar-weighted monthly returns are highlighted. In addition, it is documented that the majority, 56.6% of U.S. stocks and 61.3% of non-U.S. stocks, underperform one-month U.S. Treasury bills in terms of compound returns over the full sample. Focusing on aggregate shareholder outcomes, the top-performing 1.5% of firms account for all of the $US 56.2 trillion in net global stock market wealth creation. Outside the US, less than one percent of firms account for the $US 20.1 trillion in net wealth creation. The third essay documents evidence of managerial influence on shareholder voting outcomes. There are significantly more proposals that narrowly pass than narrowly fail. This behavior is more pronounced for firms with low institutional ownership and for proposals receiving a negative ISS recommendation. Mechanisms by which managers influence the outcome, such as meeting adjournment and selective campaigning, are newly identified. Finally, the market reacts more positively to the narrow failure of management proposals than to their passage. Combined with a theoretical model, these results imply that managerial influence on the voting process is value-destroying.

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  • 2021