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One necessary condition for the two-pass risk premium estimator to be consistent and asymptotically normal is that the rank of the beta matrix in a proposed linear asset pricing model is full column. I first investigate the asymptotic properties of the risk premium estimators and the related t-test and Wald test statistics when the full rank condition fails. I show that the beta risk of useless factors or multiple proxy factors for a true factor are priced more often than they should be at the nominal size in the asset pricing models omitting some true factors. While under the null hypothesis that the risk premiums of the true factors are equal to zero, the beta risk of the true factors are priced less often than the nominal size. The simulation results are consistent with the theoretical findings. Hence, the factor selection in a proposed factor model should not be made solely based on their estimated risk premiums. In response to this problem, I propose an alternative estimation of the underlying factor structure. Specifically, I propose to use the linear combination of factors weighted by the eigenvectors of the inner product of estimated beta matrix. I further propose a new method to estimate the rank of the beta matrix in a factor model. For this method, the idiosyncratic components of asset returns are allowed to be correlated both over different cross-sectional units and over different time periods. The estimator I propose is easy to use because it is computed with the eigenvalues of the inner product of an estimated beta matrix. Simulation results show that the proposed method works well even in small samples. The analysis of US individual stock returns suggests that there are six common risk factors in US individual stock returns among the thirteen factor candidates used. The analysis of portfolio returns reveals that the estimated number of common factors changes depending on how the portfolios are constructed. The number of risk sources found from the analysis of portfolio returns is generally smaller than the number found in individual stock returns.
ContributorsWang, Na (Author) / Ahn, Seung C. (Thesis advisor) / Kallberg, Jarl G. (Committee member) / Liu, Crocker H. (Committee member) / Arizona State University (Publisher)
Created2011
Description
Previous research has indicated that certain breeds of dogs stay longer in shelters than others; however exactly how breed perception and identification influences potential adopters' decisions remains unclear. Current dog breed identification practices in animal shelters are often based upon information supplied by the relinquishing owner, or staff determination based on the dog's phenotype. However discrepancies have been found between breed identification as typically assessed by welfare agencies and the outcome of DNA analysis. In Study 1, the perceived behavioral and adoptability characteristics of a pit-bull-type dog were compared with those of a Labrador Retriever and Border Collie. How the addition of a human handler influenced those perceptions was also assessed. In Study 2, lengths of stay and perceived attractiveness of dogs that were labeled as pit bull breeds to dogs that were phenotypically similar but were labeled as another breed at an animal shelter were compared. The latter dogs were called "lookalikes." In Study 3, perceived attractiveness in video recordings of pit-bull-type dogs and lookalikes with and without breed labels were compared. Lastly, data from an animal shelter that ceased applying breed labeling on kennels was analyzed, and lengths of stay and outcomes for all dog breeds, including pit bulls, before and after the change in labeling practice were compared. In total, these findings suggest that breed labeling influences potential adopters' perceptions and decision-making. Given the inherent complexity of breed assignment based on morphology coupled with negative breed perceptions, removing breed labels is a relatively low-cost strategy that will likely improve outcomes for dogs in animal shelters.
ContributorsGunter, Lisa (Author) / Wynne, Clive D.L. (Thesis advisor) / Bimonte-Nelson, Heather A. (Committee member) / McBeath, Michael K. (Committee member) / Arizona State University (Publisher)
Created2015
Description
Each year, nearly three million dogs will enter one of over 13,000 animal shelters in the United States. The purpose of this dissertation is to better understand how breed identity and dog welfare in the shelter, in addition to post-adoption and fostering interventions out of the shelter, can contribute to the betterment of dog lives. In Chapter 2, I conducted the largest sampling of shelter dogs’ breed identities to-date to determine their breed heritage and compare shelter breed assignment by staff as determined by visual appearance to that of genetic testing. In Chapter 4, I examined the efficacy of a post-adoption intervention intended to reduce returns by encouraging physical activity between adopters and their dogs. In Chapter 6, I examined the effects of brief stays in a foster home on the urinary cortisol: creatinine ratios of dogs awaiting adoption compared to ratios collected before or after their stays; and in Chapter 7, I characterized the relationships between multiple physiological, health, and cognitive measures and the in-kennel behavior of shelter dogs.
Four suggestions from the findings of this dissertation that will likely better the lives of dogs living in animal shelters are: 1) Shelter dog breed heritage is complex and visually identifying multiple breeds in a mixed breed dog is difficult at best. Shelters should instead focus on communicating the morphology and behavior of the dogs in their care to best support adopters. 2) While encouraging walking did not influence owner behavior, adopters who reported higher obligation and self-efficacy in dog walking were more active with their dogs. Thus, post-adoption interventions that can effectively target owner perceptions of obligation and self-efficacy may be more successful in changing behavior. 3) Temporary fostering is an impactful intervention that reduces stress for dogs awaiting adoption; however addressing stressors present at shelters that are likely contributing to higher stress responding is also needed. 4) It is possible to predict the internal stress responding of shelter dogs by observing their overt, in-kennel behavior, and this study is a first step in assessing and improving the welfare of dogs living in animal shelters.
Four suggestions from the findings of this dissertation that will likely better the lives of dogs living in animal shelters are: 1) Shelter dog breed heritage is complex and visually identifying multiple breeds in a mixed breed dog is difficult at best. Shelters should instead focus on communicating the morphology and behavior of the dogs in their care to best support adopters. 2) While encouraging walking did not influence owner behavior, adopters who reported higher obligation and self-efficacy in dog walking were more active with their dogs. Thus, post-adoption interventions that can effectively target owner perceptions of obligation and self-efficacy may be more successful in changing behavior. 3) Temporary fostering is an impactful intervention that reduces stress for dogs awaiting adoption; however addressing stressors present at shelters that are likely contributing to higher stress responding is also needed. 4) It is possible to predict the internal stress responding of shelter dogs by observing their overt, in-kennel behavior, and this study is a first step in assessing and improving the welfare of dogs living in animal shelters.
ContributorsGunter, Lisa (Author) / Wynne, Clive D. L. (Thesis advisor) / Luecken, Linda J. (Committee member) / Barber, Rebecca T. (Committee member) / Casey, Rachel A. (Committee member) / Arizona State University (Publisher)
Created2018
Description
This study asks the question: does gender-based discrimination exists within Arizona State University's Army Reserve Officer Training Corps (ROTC), and if so, what are the effects of such discrimination? Within this study, discrimination is defined as: the treatment or consideration of, or making a distinction in favor of or against, a person or thing based on the group, class, or category to which that person or thing belongs, rather than on individual merit. The researcher predicted that this study would show that gender-based discrimination operates within the masculine military culture of Army ROTC at ASU, resulting from women's hyper-visibility and evidenced by their lack of positive recognition and disbelief in having a voice in the program. These expectations were based on background research claiming that the token status of women in military roles causes them to be more heavily scrutinized, and they consequentially try to attain success by adapting to the masculine military culture by which they are constantly measured. For the purposes of this study, success is defined as: the attainment of wealth, favor, or eminence . This study relies on exploratory interviews and an online survey conducted with male and female Army ROTC cadets of all grade levels at Arizona State University. The interviews and survey collected demographic information and perspectives on individual experiences to establish an understanding of privilege and marginalization within the program. These results do support the prediction that women in Army ROTC at ASU face discrimination based on their unique visibility and lack of positive recognition and voice in the program. Likewise, the survey results indicate that race also has a significant impact on one's experience in Army ROTC, which is discussed later in this study in regard to needs for future research. ASU Army ROTC includes approximately 100 cadets, and approximately 30-40 of those cadets participated in this study. Additionally, the University of Arizona and the Northern Arizona University Army ROTC programs were invited to participate in this study and declined to do so, which would have offered a greater sample population. Nonetheless, the results of this research will be useful for analysis and further discussion of gender-equality in Army ROTC at Arizona State University.
ContributorsAllemang, Lindsey Ann (Author) / Wood, Reed (Thesis director) / Switzer, Heather (Committee member) / School of Politics and Global Studies (Contributor) / School of Social Transformation (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Genocide studies have traditionally focused on the perpetrator’s intent to eradicate a particular identity-based group, using the Holocaust as their model and point of comparison. Although some aspects of the Holocaust were undoubtedly unique, recent scholars have sought to challenge the notion that it was a singular phenomenon. Instead, they draw attention to a recurring pattern of genocidal events throughout history by shifting the focus from intent to structure. One particular branch of scholars seeks to connect the ideology and tactics of imperialism with certain genocidal events. These anti-imperialist genocide scholars concede that their model cannot account for all genocides, but still claim that it creates meaningful connections between genocides committed by Western colonialist powers and those that have occurred in a neoimperialist world order shaped according to Western interests. The latter includes genocides in postcolonial states, which these scholars believe were shaped by the scars of their colonial past, as well as genocides in which imperial hegemons assisted local perpetrators. Imperialist and former colonial powers have contributed meaningfully to all of these kinds of genocides, yet their contributions have largely been ignored due to their own influence on the creation of the current international order. Incorporating the anti-imperialist perspective into the core doctrine of genocide studies may lead to breakthroughs in areas of related policy and practice, such as prevention and accountability.
ContributorsParker, Ashleigh Mae (Author) / Thies, Cameron (Thesis director) / Sivak, Henry (Committee member) / School of Politics and Global Studies (Contributor) / School of Social Transformation (Contributor) / Department of English (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
Political polarization is the coalescence of political parties -- and the individuals of which parties are composed -- around opposing ends of the ideological spectrum. Political parties in the United States have always been divided, however, in recent years this division has only intensified. Recently, polarization has also wound its way to the Supreme Court and the nomination processes of justices to the Court. This paper examines how prevalent polarization in the Supreme Court nomination process has become by looking specifically at the failed nomination of Judge Merrick Garland and the confirmations of now-Justices Neil Gorsuch and Brett Kavanaugh. This is accomplished by comparing the ideologies and qualifications of the three most recent nominees to those of previous nominees, as well as analysing the ideological composition of the Senate at the times of the individual nominations.
ContributorsJoss, Jacob (Author) / Hoekstra, Valerie (Thesis director) / Critchlow, Donald (Committee member) / Computer Science and Engineering Program (Contributor) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
As the U.S. reckons with the reality of sexual assault and harassment in the wake of the #MeToo movement, it is particularly important to consider sexual assault in the military, an institution that is a massive employer and the face of the U.S. abroad. Media coverage is a catalyst for change, and the nature and scope of coverage is indicative of public and political attitudes. This thesis uses both quantitative and qualitative data to analyze characteristics of military sexual assault cases that complicate media coverage and to identify strengths and weaknesses of the media's approach to such stories. On the quantitative side, it takes advantage of nearly 600 case reports of sexual assault from U.S. military bases in Japan that were categorized to identify themes such as disposition outcomes, alcohol involvement and victim participation in investigations. Qualitatively, this thesis includes interviews with military officials, victims' advocates, journalists and other stakeholders that help to create a more holistic understanding of how media cover military sexual assault. Notably, this thesis finds that a lack of public interest in the military, a lack of congruency between military and civilian systems, and a highly complex hierarchy that limits journalists' access to military sources and data all complicate coverage. Drawing from these conclusions, it recommends that the media avoid episodic reporting, focus on personalizing stories in an institutional context, embrace accountability journalism and dedicate resources to pursuing complex investigations. It also acknowledges the important role of non-traditional media in the future of information sharing on the topic of military sexual assault.
ContributorsArmstrong, Mia Anne (Author) / Warner, Carolyn (Thesis director) / Gilger, Kristin (Committee member) / Walter Cronkite School of Journalism and Mass Communication (Contributor) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This paper addresses policy solutions for the continuing medical education of providers treating LGBTQ patients. As a population subject to significant health disparities, LGBTQ individuals are at risk of discrimination and harm when entering the medical context and, as such, require particular provider competence in approaches to care. This population is also vulnerable to distinctive medical needs which often position individuals as patients, making clinical interactions a key component of equality in social contexts. Through literature review and policy analysis, this paper addresses how systemic inequality has been propagated in the medical community and suggests an intervention in developing critical CME materials and requirements which seek to promote provider knowledge of best practices for the treatment of LGBTQ individuals. The ultimate policy suggestion incorporates existing policy promulgated at the state and professional organization level to fully respond to the challenges of informing providers of best practice in a meaningful, practicable manner. This policy specifies the importance of mandatory content-based learning hour requirements, in order to ensure that all providers meet a minimum level of competency in providing care to minority and at-risk populations, particularly the LGBTQ population. Moreover, it encompasses an understanding of the role and importance of outside organizations with subject-area expertise and endows such organizations with the power to interact with the policy and curriculum formation process. In so doing, it addresses many of the underlying gaps in provider education on this critical issue and promotes equity in health outcomes for all patients. Keywords: LGBTQ health, continuing medical education, health policy
ContributorsBlessinger, Kayla Nicole (Author) / White, Adrienne (Thesis director) / Coplan, Bettie (Committee member) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This thesis takes the form of a market research report with the goal of analyzing the implications of the United Kingdom (UK) leaving the European Union (EU) (known as “Brexit”) on London’s office commercial real estate market. The ultimate goal of this report is to make a prediction, firmly grounded in quantitative and qualitative research conducted over the past several months, as to the direction of London’s commercial real estate market going forward (post-Brexit). Within the commercial real estate sector, this paper narrows its focus to the office segment of the London market.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
ContributorsHorn, Jonathan (Co-author) / Sidi, Adam (Co-author) / Bonadurer, Werner (Thesis director) / McDaniel, Cara (Committee member) / Department of Finance (Contributor) / School of Politics and Global Studies (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
My name is Adriana Becerra and I am a student at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University. In hoping to combine my two passions of journalism and film, for my Honors Undergraduate Thesis project I created my own film review website. My website is a complete review of the films that were nominated for the 2015 Oscars in the following categories: Best Picture, Animated Feature, Documentary Feature, Foreign Language, and Short Film Live Action. In all, I watched and reviewed a total of twenty-eight films based on acting, lighting, music, cinematography, costume/makeup/set design, writing, and visual effects. Over the course of nine months, I have watched, reviewed, and talked extensively about each film that I have reviewed. Though tedious at times, I thoroughly enjoyed completing my Undergraduate Thesis Project. I hope to continue critically looking at films, and possibly even incorporating film in my journalistic career.
ContributorsBecerra, Adriana Justina (Author) / Dodge, Nancie (Thesis director) / Russell, Dennis (Committee member) / School of Politics and Global Studies (Contributor) / Walter Cronkite School of Journalism and Mass Communication (Contributor) / Department of English (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05