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This study explores the best known practices of small businesses from different entrepreneurs' perspectives and attempts to address the question: are there consistencies between different entrepreneurs' approaches to establishing and growing a business? Ten entrepreneurs from a variety of business types (product and service) were interviewed using a consistent question

This study explores the best known practices of small businesses from different entrepreneurs' perspectives and attempts to address the question: are there consistencies between different entrepreneurs' approaches to establishing and growing a business? Ten entrepreneurs from a variety of business types (product and service) were interviewed using a consistent question template that asked questions regarding financing, business strategy (and scalability), interpersonal forces, innate qualities, partnerships, and resources. The primary overlaps between these businesses are with regard to the confluence between personal risk and business strategy, the risk of working with friends and family, the capacity to scale relative to special content knowledge or process knowledge, and partnerships
etworking.
ContributorsCole, Chandler William (Author) / Kellso, James (Thesis director) / Gilmore, Bruce (Committee member) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
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There is a disconnect between the way people are taught to find success and happiness, and the results observed. Society teaches us that success will lead to happiness. Instead, it is argued that success is engrained in happiness. Case studies of four, established, successful people: Jack Ma, Elon Musk, Ricardo

There is a disconnect between the way people are taught to find success and happiness, and the results observed. Society teaches us that success will lead to happiness. Instead, it is argued that success is engrained in happiness. Case studies of four, established, successful people: Jack Ma, Elon Musk, Ricardo Semler, and William Gore, have been conducted in order to observe an apparent pattern. This data, coupled with the data from Michael Boehringer's story, is used to formulate a solution to the proposed problem. Each case study is designed to observe characteristics of the individuals that allow them to be successful and exhibit traits of happiness. Happiness will be analyzed in terms of passion and desire to perform consistently. Someone who does what they love, paired with the ability to perform on a regular basis, is considered to be a happy person. The data indicates that there is an observable pattern within the results. From this pattern, certain traits have been highlighted and used to formulate guidelines that will aid someone falling short of success and happiness in their lives. The results indicate that there are simple questions that can guide people to a happier life. Three basic questions are defined: is it something you love, can you see yourself doing this every day and does it add value? If someone can answer yes to all three requirements, the person will be able to find happiness, with success following. These guidelines can be taken and applied to those struggling with unhappiness and failure. By creating such a formula, the youth can be taught a new way of thinking that will help to eliminate these issues, that many people are facing.
ContributorsBoehringer, Michael Alexander (Author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Department of Management (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Finance (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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The purpose of our research was to develop recommendations and/or strategies for Company A's data center group in the context of the server CPU chip industry. We used data collected from the International Data Corporation (IDC) that was provided by our team coaches, and data that is accessible on the

The purpose of our research was to develop recommendations and/or strategies for Company A's data center group in the context of the server CPU chip industry. We used data collected from the International Data Corporation (IDC) that was provided by our team coaches, and data that is accessible on the internet. As the server CPU industry expands and transitions to cloud computing, Company A's Data Center Group will need to expand their server CPU chip product mix to meet new demands of the cloud industry and to maintain high market share. Company A boasts leading performance with their x86 server chips and 95% market segment share. The cloud industry is dominated by seven companies Company A calls "The Super 7." These seven companies include: Amazon, Google, Microsoft, Facebook, Alibaba, Tencent, and Baidu. In the long run, the growing market share of the Super 7 could give them substantial buying power over Company A, which could lead to discounts and margin compression for Company A's main growth engine. Additionally, in the long-run, the substantial growth of the Super 7 could fuel the development of their own design teams and work towards making their own server chips internally, which would be detrimental to Company A's data center revenue. We first researched the server industry and key terminology relevant to our project. We narrowed our scope by focusing most on the cloud computing aspect of the server industry. We then researched what Company A has already been doing in the context of cloud computing and what they are currently doing to address the problem. Next, using our market analysis, we identified key areas we think Company A's data center group should focus on. Using the information available to us, we developed our strategies and recommendations that we think will help Company A's Data Center Group position themselves well in an extremely fast growing cloud computing industry.
ContributorsJurgenson, Alex (Co-author) / Nguyen, Duy (Co-author) / Kolder, Sean (Co-author) / Wang, Chenxi (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Michael (Committee member) / Department of Finance (Contributor) / Department of Management (Contributor) / Department of Information Systems (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
I built a short-term West Texas Intermediate (WTI) crude oil price-forecasting model for two periods to understand how various drivers of crude oil behaved before and after the Great Recession. According to the Federal Reserve the Great Recession "...began in December 2007 and ended in June 2009" (Rich 1). The

I built a short-term West Texas Intermediate (WTI) crude oil price-forecasting model for two periods to understand how various drivers of crude oil behaved before and after the Great Recession. According to the Federal Reserve the Great Recession "...began in December 2007 and ended in June 2009" (Rich 1). The research involves two models spanning two periods. The first period encompasses 2000 to late 2007 and the second period encompasses early 2010 to 2016. The dependent variable for this model is monthly average WTI crude oil prices. The independent variables are based on what the academic community believes are drivers of crude oil prices. While the studies may be scattered across different time periods, they provide valuable insight on what the academic community believes drives oil prices. The model includes variables that address two different data groups including: 1. Market fundamentals/expectations of market fundamentals 2. Speculation One of the biggest challenges I faced was defining and quantifying "speculation". I ended up using a previous study's definition of "speculation", which it defined as the activity of certain market participants in the Commitment of Traders report released by the Commodity Futures Trading Commission. My research shows that the West Texas Intermediate crude oil market exhibited a structural change after the Great Recession. Furthermore, my research also presents interesting findings that warrant further research. For example, I find that 3-month T-bills and 10yr Treasury notes lose their predictive edge starting in the second period (2010-2016). Furthermore, the positive correlation between oil and the U.S. dollar in the period 2000-2007 warrants further investigation. Lastly, it might be interesting to see why T-bills are positively correlated to WTI prices and 10yr Treasury notes are negatively correlated to WTI prices.
ContributorsMirza, Hisham Tariq (Author) / McDaniel, Cara (Thesis director) / Budolfson, Arthur (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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Description
In January 2016, Chinese regulators announced the use of circuit breakers to stabilize the stock market but suspended this mechanism after two weeks. Researchers want to further understand the unique characteristics of Chinese stock market and measure the feasibility of implementing a circuit breaker in China once again. The thesis

In January 2016, Chinese regulators announced the use of circuit breakers to stabilize the stock market but suspended this mechanism after two weeks. Researchers want to further understand the unique characteristics of Chinese stock market and measure the feasibility of implementing a circuit breaker in China once again. The thesis provides an overview of China's attempted implementation and its related consequences, followed by possible problems and tentative recommendations. It outlines key characteristics among different nations that are implementing circuit breakers and price limit systems. Circuit breaker policies in the United States and Japan are explained in detail, while policies in other nations are presented as an overall trend.
ContributorsLiu, Luyao (Co-author) / Zhang, Zihan (Co-author) / Simonson, Mark (Thesis director) / Aragon, George (Committee member) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
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Description
For this thesis, the authors would like to create a hypothetical Private Equity Real Estate Investment firm that focuses on creating value for partners by taking an opportunistic approach to acquiring under-performing urban multi-family properties with large upside potential for investing. The project will focus on both the market analysis

For this thesis, the authors would like to create a hypothetical Private Equity Real Estate Investment firm that focuses on creating value for partners by taking an opportunistic approach to acquiring under-performing urban multi-family properties with large upside potential for investing. The project will focus on both the market analysis and financial modeling associated with investment strategy and transactions. There is a substantial amount of complexity within commercial real estate and this thesis seeks to offer an accurate and comprehensive documentary of the process, while simplifying it for everyday readers. Additionally, there are a significant amount of risk factors associated with investment decisions, so the best practices from the industry documented in this manuscript are valuable tools for successful investing in the future. To gain the most profound and reliable industry knowledge, the authors leveraged the experience of dozens of industry professionals through research and personal interviews. Through careful analysis, the authors were able to ascertain the current economic position in the real estate cycle and to create a plan for future investing. Additionally, they were able to identify and evaluate a specific asset for purchase. As a result, the authors found that multifamily properties are a sound investment for the next two years and that the company should slowly start to shift directions to office and retail in 2018.
ContributorsBacon, David (Co-author) / Soto, Justin (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor) / W. P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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Description
Alternative currencies have a long and varied history, in which Bitcoin is the latest chapter. The pseudonymous Satoshi Nakamoto created Bitcoin as an implementation of the concept of a cryptocurrency, or a decentralized currency based on the principles of cryptography. Since its creation in 2008, Bitcoin has had a fairly

Alternative currencies have a long and varied history, in which Bitcoin is the latest chapter. The pseudonymous Satoshi Nakamoto created Bitcoin as an implementation of the concept of a cryptocurrency, or a decentralized currency based on the principles of cryptography. Since its creation in 2008, Bitcoin has had a fairly tumultuous existence that limited its adoption. Wide price fluctuations occurred as the appeal of free money by running a piece of computer software drove people to purchase expensive hardware, and high-profile scandals cast Bitcoin as an unstable currency well-suited primarily for purchasing illicit materials. Consumer confidence in the currency was extremely low, and businesses were extremely hesitant to accept a currency that could easily lose half (or more) of its value overnight. However, recent years have seen the currency begin to stabilize as businesses and mainstream investors have begun to accept and support it. Alternative cryptocurrencies, titled "altcoins," have also been created to fill market niches that Bitcoin was not addressing. Governmental intervention, a concern of many following the currency, has been surprisingly restrained and has actually contributed to its stability. The future of Bitcoin looks very bright as it carries the dream of the alternative currency forward into the 21st century.
ContributorsReardon, Brett (Co-author) / Burke, Ryan (Co-author) / Happel, Stephen (Thesis director) / Boyes, William (Committee member) / School of Politics and Global Studies (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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Description
This thesis looks into the current method a particular company uses to value its inventory carrying costs (ICC). By identifying costs incurred during all stages of production, along with incorporating industry standards and academic research while avoiding the shortcomings of the company's current method, this thesis was able to derive

This thesis looks into the current method a particular company uses to value its inventory carrying costs (ICC). By identifying costs incurred during all stages of production, along with incorporating industry standards and academic research while avoiding the shortcomings of the company's current method, this thesis was able to derive a more comprehensive and manageable tool for measuring ICC. Our findings led to concrete recommendations, which will provide real value to company managers by improving the accuracy of project finance calculations, supply chain optimization modeling, and numerous other decisions relying on accurate inventory data inputs.
ContributorsDougherty, Mitch (Co-author) / Marshall, Jeffrey (Co-author) / Zieler, Jason (Co-author) / Gilmore, Eric (Co-author) / Hertzel, Michael (Thesis director) / Simonson, Mark (Committee member) / Yarn, James (Committee member) / Walter Cronkite School of Journalism and Mass Communication (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2014-05
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Description
Company X is one of the world's largest manufacturer of semiconductors. The company relies on various suppliers in the U.S. and around the globe for its manufacturing process. The financial health of these suppliers is vital to the continuation of Company X's business without any material interruption. Therefore, it is

Company X is one of the world's largest manufacturer of semiconductors. The company relies on various suppliers in the U.S. and around the globe for its manufacturing process. The financial health of these suppliers is vital to the continuation of Company X's business without any material interruption. Therefore, it is in Company X's interest to monitor its supplier's financial performance. Company X has a supplier financial health model currently in use. Having been developed prior to watershed events like the Great Recession, the current model may not reflect the significant changes in the economic environment due to these events. Company X wants to know if there is a more accurate model for evaluating supplier health that better indicates business risk. The scope of this project will be limited to a sample of 24 suppliers representative of Company X's supplier base that are public companies. While Company X's suppliers consist of both private and public companies, the used of exclusively public companies ensures that we will have sufficient and appropriate data for the necessary analysis. The goal of this project is to discover if there is a more accurate model for evaluating the financial health of publicly traded suppliers that better indicates business risk. Analyzing this problem will require a comprehensive understanding of various financial health models available and their components. The team will study best practice and academia. This comprehension will allow us to customize a model by incorporating metrics that allows greater accuracy in evaluating supplier financial health in accordance with Company X's values.
ContributorsLi, Tong (Co-author) / Gonzalez, Alexandra (Co-author) / Park, Zoon Beom (Co-author) / Vogelsang, Meridith (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Mike (Committee member) / Department of Finance (Contributor) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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Description
In the aftermath of the 2008 financial crisis, banking regulators have been taking a more active role in pursing greater financial stability. One area of focus has been on Wall Street banks' leverage lending practices which include leveraged lending activities to fund leveraged buyouts. In March 2013, the Federal Reserve

In the aftermath of the 2008 financial crisis, banking regulators have been taking a more active role in pursing greater financial stability. One area of focus has been on Wall Street banks' leverage lending practices which include leveraged lending activities to fund leveraged buyouts. In March 2013, the Federal Reserve and the Office of the Comptroller of the Currency issued guidance urging banks to avoid financing leveraged buyouts in most industries that would put total debt on a company of more than six times its earnings before interest, taxes, depreciation and amortization, or Ebitda. Our research, using data on all leveraged buyouts (with EBITDA >$20 million) issued after the guidance, sets out to explain the elements banks consider when exceeding leverage limitations. Initially, we hypothesized that since deals over 6x leverage had higher amounts of debt, they were riskier deals, which would carry over to other risk measures such as yield to maturity on debt and company credit ratings. To analyze this, we obtained a large data set with all LBO deals in the past three years and ran difference-in-means tests on a number of variables such as deal size, credit rating and yield to maturity to determine if deals over 6x leverage had significantly different risk characteristics than deals under 6x leverage. Contrary to our hypothesis, we found that deals over 6x leverage had significantly less risk, mainly demonstrated by lower average YTMs, than deals under 6x. One possible explanation of this might be that banks, wanting to ensure they are not fined, will only go through with a deal over 6x leverage if other risk metrics such as yield to maturity are well below average.
ContributorsKing, Adam (Co-author) / Lukemire, Sean (Co-author) / McAleer, Stephen (Co-author) / Simonson, Mark (Thesis director) / Bonadurer, Werner (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05