Matching Items (318)
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Description
In this dissertation, I examine the source of some of the anomalous capital market outcomes that have been documented for firms with high accruals. Chapter 2 develops and implements a methodology that decomposes a firm's discretionary accruals into a firm-specific and an industry-specific component. I use this decomposition to investigate

In this dissertation, I examine the source of some of the anomalous capital market outcomes that have been documented for firms with high accruals. Chapter 2 develops and implements a methodology that decomposes a firm's discretionary accruals into a firm-specific and an industry-specific component. I use this decomposition to investigate which component drives the subsequent negative returns associated with firms with high discretionary accruals. My results suggest that these abnormal returns are driven by the firm-specific component of discretionary accruals. Moreover, although industry-specific discretionary accruals do not directly contribute towards this anomaly, I find that it is precisely when industry-specific discretionary accruals are high that firms with high firm-specific discretionary accruals subsequently earn these negative returns. While consistent with irrational mispricing or a rational risk premium associated with high discretionary accruals, these findings also support a transactions-cost based explanation for the accruals anomaly whereby search costs associated with distinguishing between value-relevant and manipulative discretionary accruals can induce investors to overlook potential earnings manipulation. Chapter 3 extends the decomposition to examine the role of firm-specific and industry-specific discretionary accruals in explaining the subsequent market underperformance and negative analysts' forecast errors documented for firms issuing equity. I examine the post-issue market returns and analysts' forecast errors for a sample of seasoned equity issues between 1975 and 2004 and find that offering-year firm-specific discretionary accruals can partially explain these anomalous capital market outcomes. Nonetheless, I find this predictive power of firm-specific accruals to be more pronounced for issues that occur during 1975 - 1989 compared to issues taking place between 1990 and 2004. Additionally, I find no evidence that investors and analysts are more overoptimistic about the prospects of issuers that have both high firm-specific and industry-specific discretionary accruals (compared to firms with high discretionary accruals in general). The results indicate no role for industry-specific discretionary accruals in explaining overoptimistic expectations from seasoned equity issues and suggest the importance of firm-specific factors in inducing earnings manipulation surrounding equity issues.
ContributorsIkram, Atif (Author) / Coles, Jeffrey (Thesis advisor) / Hertzel, Michael (Committee member) / Tserlukevich, Yuri (Committee member) / Arizona State University (Publisher)
Created2011
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Description

The digital education market has been expanding rapidly during the last few years, providing ample opportunity in the future. There are many technologies involved in this market, with the most significant being cloud client services, edge computing, and interactive flat panel displays (IFPDs). Combined, these technologies represent ninety-two percent of

The digital education market has been expanding rapidly during the last few years, providing ample opportunity in the future. There are many technologies involved in this market, with the most significant being cloud client services, edge computing, and interactive flat panel displays (IFPDs). Combined, these technologies represent ninety-two percent of the Serviceable Available Market with IFPDs as the largest opportunity with sixty-nine percent (Company X Data). Cloud computing provides anytime/anywhere services that can be accessed from any device: e-portfolios, content access, and creation. Edge computing processes data closer to its source and the point of service delivery, providing ultra-low latency to help boost efficiency, mainly used for data processing. Lastly, IFPDs are touchscreen display devices ideal for collaborative spaces and meeting rooms. They are a substitute for outdated projector technology and provide better connectivity and built-in software solutions. <br/>We decided to develop a strategy to expand the market share in the IFPD market because it is the largest, and we consider Company X has a significant advantage in this sector. Company X manufactures the processors used in IFPDs and has established good relationships with manufacturers of these devices.

ContributorsPhillips, Maya (Co-author) / Hauck, Tanner (Co-author) / Morales Rincon, Herwin (Thesis director) / Koroli, Eri (Thesis director) / Simonson, Mark (Committee member) / Department of Finance (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Human-environment interactions in aeolian (windblown) systems has focused research on<br/>human’s role in causing and aiding recovery from natural and anthropogenic disturbance. There<br/>is room for improvement in understanding the best methods and considerations for manual<br/>coastal foredune restoration. Furthermore, the extent to which humans play a role in changing the<br/>shape and surface

Human-environment interactions in aeolian (windblown) systems has focused research on<br/>human’s role in causing and aiding recovery from natural and anthropogenic disturbance. There<br/>is room for improvement in understanding the best methods and considerations for manual<br/>coastal foredune restoration. Furthermore, the extent to which humans play a role in changing the<br/>shape and surface textures of quartz sand grains is poorly understood. The goal of this thesis is<br/>two-fold: 1) quantify the geomorphic effectiveness of a multi-year manually rebuilt foredune and<br/>2) compare the shapes and microtextures on disturbed and undisturbed quartz sand grains. For<br/>the rebuilt foredune, uncrewed aerial systems (UAS) were used to survey the site, collecting<br/>photos to create digital surface models (DSMs). These DSMs were compared at discrete<br/>moments in time to create a sediment budget. Water levels and cross-shore modeling is also<br/>considered to predict the decadal evolution of the site. In the two years since rebuilding, the<br/>foredune has been stable, but not geomorphically resilient. Modeling shows landward foredune<br/>retreat and beach widening. For the quartz grains, t-testing of shape characteristics showed that<br/>there may be differences in the mean circularity between grains from off-highway vehicle and<br/>non-riding areas. Quartz grains from a variety of coastal and inland dunes were imaged using a<br/>scanning electron microscopy to search for evidence of anthropogenically-induced<br/>microtextures. On grains from Oceano Dunes in California, encouraging textures like parallel<br/>striations, grain fracturing, and linear conchoidal fractures provide exploratory evidence of<br/>anthropogenic microtextures. More focused research is recommended to confirm this exploratory<br/>work.

ContributorsMarvin, Michael Colin (Author) / Walker, Ian (Thesis director) / Dorn, Ron (Committee member) / Schmeeckle, Mark (Committee member) / School of Geographical Sciences and Urban Planning (Contributor, Contributor, Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description

Edge computing is a new and growing market that Company X has an opportunity to expand their presence. Within this paper, we compare many external research studies to better quantify the Total Addressable Market of the Edge Computing space. Furthermore, we highlight which Segments within Edge Computing have the most

Edge computing is a new and growing market that Company X has an opportunity to expand their presence. Within this paper, we compare many external research studies to better quantify the Total Addressable Market of the Edge Computing space. Furthermore, we highlight which Segments within Edge Computing have the most opportunities for growth, along with identify a specific market strategy that Company X could do to capture market share within the most opportunistic segment.

ContributorsRaimondi, Ronald Frank (Co-author) / Hamkins, Sean (Co-author) / Gandolfi, Michael (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Mike (Committee member) / Department of Information Systems (Contributor) / Department of Management and Entrepreneurship (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Edge computing is a new and growing market that Company X has an opportunity to expand their presence. Within this paper, we compare many external research studies to better quantify the Total Addressable Market of the Edge Computing space. Furthermore, we highlight which Segments within Edge Computing have the most

Edge computing is a new and growing market that Company X has an opportunity to expand their presence. Within this paper, we compare many external research studies to better quantify the Total Addressable Market of the Edge Computing space. Furthermore, we highlight which Segments within Edge Computing have the most opportunities for growth, along with identify a specific market strategy that Company X could do to capture market share within the most opportunistic segment.

ContributorsHamkins, Sean (Co-author) / Raimondi, Ronnie (Co-author) / Gandolfi, Micheal (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Mike (Committee member) / School of Accountancy (Contributor) / Department of Finance (Contributor, Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

This thesis examines the value creation potential of renovating an existing commercial real estate asset to a medical office. It begins by examining commercial real estate and the medical sector at a high level. It then discusses the various criteria used to select a subject property for renovation. This renovation

This thesis examines the value creation potential of renovating an existing commercial real estate asset to a medical office. It begins by examining commercial real estate and the medical sector at a high level. It then discusses the various criteria used to select a subject property for renovation. This renovation is then depicted through a modified pitch book that contains a financial model and pro forma.

ContributorsPeters, Matthew Scott (Co-author) / Larrea, Justin (Co-author) / Berger, Nicholas (Co-author) / Simonson, Mark (Thesis director) / Gray, William (Committee member) / Department of Finance (Contributor, Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Fire is a naturally-occurring disruptive ecological force that is an essential part of certain ecosystems, and has historically been a tool used by indigenous fire stewards to maintain the health of the land. In the past century, fire has been severely suppressed throughout many areas of the Western United States

Fire is a naturally-occurring disruptive ecological force that is an essential part of certain ecosystems, and has historically been a tool used by indigenous fire stewards to maintain the health of the land. In the past century, fire has been severely suppressed throughout many areas of the Western United States as Western colonization and the suppression of native traditional ecological knowledge took place, causing a severe decline in ecosystem health and the accumulation of flammable vegetation, which has more recently contributed towards a frequency of catastrophic, high-intensity wildfires. Current fire management challenges include balancing social and ecological perspectives. In Colorado and other areas of the country, community wildfire protection plans (CWPP) are evolving as a means to involve a variety of community stakeholders in fire management decisions. Using Colorado CWPP boundaries as a social management unit and endangered species ranges as an ecological management unit, I analyzed the spatial overlap of these different factors. Since each CWPP has its own fire management policies, I drew implications from the results for which important factors different CWPPs should consider.

ContributorsAzuma, Erin (Author) / Kroetz, Kailin (Thesis director) / Iacona, Gwen (Committee member) / Hamilton, Matthew (Committee member) / School of Life Sciences (Contributor) / Watts College of Public Service & Community Solut (Contributor) / School of Geographical Sciences and Urban Planning (Contributor) / Thunderbird School of Global Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Surveys have shown that several hundred billion weather forecasts are obtained by the United States public each year, and that weather news is one of the most consumed topics in the media. This indicates that the forecast provides information that is significant to the public, and that the public utilizes

Surveys have shown that several hundred billion weather forecasts are obtained by the United States public each year, and that weather news is one of the most consumed topics in the media. This indicates that the forecast provides information that is significant to the public, and that the public utilizes details associated with it to inform aspects of their life. Phoenix, Arizona is a dry, desert region that experiences a monsoon season and extreme heat. How then, does the weather forecast influence the way Phoenix residents make decisions? This paper aims to draw connections between the weather forecast, decision making, and people who live in a desert environment. To do this, a ten-minute survey was deployed through Amazon Mechanical Turk (MTurk) in which 379 respondents were targeted. The survey asks 45 multiple choice and ranking questions categorized into four sections: obtainment of the forecast, forecast variables of interest, informed decision making based on unique weather variables, and demographics. This research illuminates how residents in the Phoenix metropolitan area use the local weather forecast for decision-making on daily activities, and the main meteorological factors that drive those decisions.

ContributorsMarturano, Julia (Author) / Middel, Ariane (Thesis director) / Schneider, Florian (Committee member) / School of Geographical Sciences and Urban Planning (Contributor, Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Globally, the incidental capture of non-target species in fisheries (bycatch) has been linked to declines of ecologically, economically, and culturally important marine species. Gillnet fisheries have especially high bycatch due to their non-selective nature, necessitating the development of new bycatch reduction technologies (BRTs). Net illumination is an emerging BRT that

Globally, the incidental capture of non-target species in fisheries (bycatch) has been linked to declines of ecologically, economically, and culturally important marine species. Gillnet fisheries have especially high bycatch due to their non-selective nature, necessitating the development of new bycatch reduction technologies (BRTs). Net illumination is an emerging BRT that has shown promise in reducing bycatch of marine megafauna, including sea turtles, cetaceans, and seabirds. However, little research has been conducted to understand the effects of net illumination on fish assemblages, including bony fish and elasmobranchs (i.e. sharks, rays, and skates). Here, I assessed a 7-year dataset of paired net illumination trials using four different types of light (green LEDs, green chemical glowsticks, ultraviolet (UV) lights, and orange lights) to examine the effects of net illumination on fish catch and bycatch in a gillnet fishery at Baja California Sur, Mexico. Analysis revealed no significant effect on bony fish target catch or bycatch for any light type. There was a significant decrease in elasmobranch bycatch using UV and orange lights, with orange lights showing the most promise for decreasing elasmobranch bycatch, resulting in a 50% reduction in bycatch rates. Analysis of the effects of net illumination on elasmobranch target catch was limited due to insufficient data. These results indicate that the illumination of gillnets may offer a practical solution for reducing fish bycatch while maintaining target catch. More research should be conducted to understand the effects of net illumination in different fisheries, how net illumination affects fisher profit and efficiency, and how net illumination affects fish behavior. Further optimization of net illumination is also necessary before the technology can be recommended on a broader scale.

ContributorsBurgher, Kayla Marie (Author) / Senko, Jesse (Thesis director) / Throop, Heather (Committee member) / School of Life Sciences (Contributor) / School of Sustainability (Contributor) / School of Geographical Sciences and Urban Planning (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

This thesis examines the value creation potential of renovating an existing commercial real estate asset to a medical office. It begins by examining commercial real estate and the medical sector at a high level. It then discusses the various criteria used to select a subject property for renovation. This renovation

This thesis examines the value creation potential of renovating an existing commercial real estate asset to a medical office. It begins by examining commercial real estate and the medical sector at a high level. It then discusses the various criteria used to select a subject property for renovation. This renovation is then depicted through a modified pitch book that contains a financial model and pro forma.

ContributorsLarrea, Justin (Co-author) / Berger, Nicholas (Co-author) / Peters, Matthew (Co-author) / Simonson, Mark (Thesis director) / Gray, William (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05