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Description
This paper looks at defined contribution 401(k) plans in the United States to analyze whether or not participants have plans with better plan characteristics defined in this study by paying more for administration services, advisory services, and investments. By collecting and analyzing Form 5500 and audit data, I find that there is no relation between how much a plan and its participants are paying for recordkeeping, advisory, and investment fees and the analyzed characteristics of the plan that they receive in regards to active/passive allocation, revenue share, and the performance of the funds.
ContributorsAziz, Julian (Author) / Wahal, Sunil (Thesis director) / Bharath, Sreedhar (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2015-05
Description
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
This report is a summary of a long-term project completed by Ido Gilboa for his Honors Thesis. The purpose of this project is to determine if an arbitrage between different crypto-currency exchanges exists, and if it is possible to acts upon such triangular arbitrage. Bitcoin, the specific crypto-currency this report focuses on, has become a household name, yet most do not understand its origin and patterns. The report will detail the process of collecting data from different sources, manipulating it in order to run the algorithms, explain the meaning behind the algorithms, results and important statistics found, and conclusion of the project. In addition to that, the report will go into detail discussing financial terms such as triangular arbitrage as well as information system concepts such as sockets and server communication. The project was completed with the assistance of Dr. Sunil Wahal and Dr. Daniel Mazzola, professors in the W.P. Carey School of business. This project has been stretched over along period of time, spanning from early 2013 to fall of 2015.
ContributorsGilboa, Ido (Author) / Wahal, Sunil (Thesis director) / Mazzola, Daniel (Committee member) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2015-12
Description
This paper explores the history of sovereign debt default in developing economies and attempts to highlight the mistakes and accomplishments toward achieving debt sustainability. In the past century, developing economies have received considerable investment due to higher returns and a degree of disregard for the risks accompanying these investments. As the former Citibank chairman, Walter Wriston articulated, "Countries don't go bust" (This Time is Different, 51). Still, unexpected negative externalities have shattered this idea as the majority of developing economies follow a cyclical pattern of default. As coined by Reinhart and Rogoff, sovereign governments that fall into this continuous cycle have become known as serial defaulters. Most developed markets have not defaulted since World War II, thus escaping this persistent trap. Still, there have been developing economies that have been able to transition out of serial defaulting. These economies are able to leverage debt to compound growth without incurring the protracted consequences of a default. Although the cases are few, we argue that developing markets such as Chile, Mexico, Russia, and Uruguay have been able to escape this vicious cycle. Thus, our research indicates that collaborative debt restructurings coupled with long term economic policies are imperative to transitioning out of debt intolerance and into a sustainable debt position. Successful economies are able to leverage debt to create strong foundational growth rather than gambling with debt in the hopes of achieving rapid catch- up growth.
ContributorsPitt, Ryan (Co-author) / Martinez, Nick (Co-author) / Choueiri, Robert (Co-author) / Goegan, Brian (Thesis director) / Silverman, Daniel (Committee member) / Department of Economics (Contributor) / Department of Information Systems (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / School of Politics and Global Studies (Contributor) / W. P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2015-12
Description
This thesis, entitled "A Community Perspective on Alcohol Education," was conducted over a ten month period during the Spring 2014 and Fall 2014 semesters, composed by Christopher Stuller and Nicholas Schmitzer. The research involved interviewing twelve professionals from Arizona State University and the City of Tempe to gather a holistic view on alcohol education and alcohol safety as it involves the students at ASU. Upon completion of the interviews, recommendations were made regarding areas of improvement for alcohol education and alcohol safety at Arizona State University. These recommendations range from creating a mandatory alcohol education class to passing a Guardian Angel Law to creating a national network of alcohol education best practices. Through this thesis, the authors hope to prevent future alcohol related injuries, deaths, and tragedies. For the final display of this thesis a website was created. For the ease of reading, all information has been presented in text format.
ContributorsSchmitzer, Nicholas (Co-author) / Stuller, Christopher (Co-author) / Koretz, Lora (Thesis director) / Scott Lynch, Jacquelyn (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / Department of Supply Chain Management (Contributor)
Created2014-12
Description
The object of the present study is to examine methods in which the company can optimize their costs on third-party suppliers whom oversee other third-party trade labor. The third parties in scope of this study are suspected to overstaff their workforce, thus overcharging the company. We will introduce a complex spreadsheet model that will propose a proper project staffing level based on key qualitative variables and statistics. Using the model outputs, the Thesis team proposes a headcount solution for the company and problem areas to focus on, going forward. All sources of information come from company proprietary and confidential documents.
ContributorsLoo, Andrew (Co-author) / Brennan, Michael (Co-author) / Sheiner, Alexander (Co-author) / Hertzel, Michael (Thesis director) / Simonson, Mark (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor)
Created2014-05
Description
A Guide to Financial Mathematics is a comprehensive and easy-to-use study guide for students studying for the one of the first actuarial exams, Exam FM. While there are many resources available to students to study for these exams, this study is free to the students and offers an approach to the material similar to that of which is presented in class at ASU. The guide is available to students and professors in the new Actuarial Science degree program offered by ASU. There are twelve chapters, including financial calculator tips, detailed notes, examples, and practice exercises. Included at the end of the guide is a list of referenced material.
ContributorsDougher, Caroline Marie (Author) / Milovanovic, Jelena (Thesis director) / Boggess, May (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / School of Mathematical and Statistical Sciences (Contributor)
Created2015-05
Description
Over the course of six months, we have worked in partnership with Arizona State University and a leading producer of semiconductor chips in the United States market (referred to as the "Company"), lending our skills in finance, statistics, model building, and external insight. We attempt to design models that help predict how much time it takes to implement a cost-saving project. These projects had previously been considered only on the merit of cost savings, but with an added dimension of time, we hope to forecast time according to a number of variables. With such a forecast, we can then apply it to an expense project prioritization model which relates time and cost savings together, compares many different projects simultaneously, and returns a series of present value calculations over different ranges of time. The goal is twofold: assist with an accurate prediction of a project's time to implementation, and provide a basis to compare different projects based on their present values, ultimately helping to reduce the Company's manufacturing costs and improve gross margins. We believe this approach, and the research found toward this goal, is most valuable for the Company. Two coaches from the Company have provided assistance and clarified our questions when necessary throughout our research. In this paper, we begin by defining the problem, setting an objective, and establishing a checklist to monitor our progress. Next, our attention shifts to the data: making observations, trimming the dataset, framing and scoping the variables to be used for the analysis portion of the paper. Before creating a hypothesis, we perform a preliminary statistical analysis of certain individual variables to enrich our variable selection process. After the hypothesis, we run multiple linear regressions with project duration as the dependent variable. After regression analysis and a test for robustness, we shift our focus to an intuitive model based on rules of thumb. We relate these models to an expense project prioritization tool developed using Microsoft Excel software. Our deliverables to the Company come in the form of (1) a rules of thumb intuitive model and (2) an expense project prioritization tool.
ContributorsAl-Assi, Hashim (Co-author) / Chiang, Robert (Co-author) / Liu, Andrew (Co-author) / Ludwick, David (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Michael (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor) / Department of Economics (Contributor) / Department of Supply Chain Management (Contributor) / School of Accountancy (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Mechanical and Aerospace Engineering Program (Contributor) / WPC Graduate Programs (Contributor)
Created2015-05
Description
This thesis project was conducted to create a practical tool to help micro and small local food enterprises identify potential strategies and sources of finance. Currently, many of these enterprises are unable to obtain the financial capital needed to start-up or maintain operations.
Sources and strategies of finance studied and ultimately included in the tool were Loans, Equity, Membership, Crowdfunding, and Grants. The tool designed was a matrix that takes into account various criteria of the business (e.g. business lifecycle, organizational structure, business performance) and generates a financial plan based on these criteria and how they align with the selected business strategies. After strategies are found, stakeholders can search through an institutional database created in conjunction with the matrix tool to find possible institutional providers of financing that relate to the strategy or strategies found.
The tool has shown promise in identifying sources of finance for micro and small local food enterprises in practical use with hypothetical business cases, however further practical use is necessary to provide further input and revise the tool as needed. Ultimately, the tool will likely become fully user-friendly and stakeholders will not need the assistance of another expert helping them to use it. Finally, despite the promise of the tool itself, the fundamental and underlying problem that many of these businesses face (lack of infrastructure and knowledge) still exists, and while this tool can also help capacity-building efforts towards both those seeking and those providing finance, an institutional attitude adjustment towards social and alternative enterprises is necessary in order to further simplify the process of obtaining finance.
Sources and strategies of finance studied and ultimately included in the tool were Loans, Equity, Membership, Crowdfunding, and Grants. The tool designed was a matrix that takes into account various criteria of the business (e.g. business lifecycle, organizational structure, business performance) and generates a financial plan based on these criteria and how they align with the selected business strategies. After strategies are found, stakeholders can search through an institutional database created in conjunction with the matrix tool to find possible institutional providers of financing that relate to the strategy or strategies found.
The tool has shown promise in identifying sources of finance for micro and small local food enterprises in practical use with hypothetical business cases, however further practical use is necessary to provide further input and revise the tool as needed. Ultimately, the tool will likely become fully user-friendly and stakeholders will not need the assistance of another expert helping them to use it. Finally, despite the promise of the tool itself, the fundamental and underlying problem that many of these businesses face (lack of infrastructure and knowledge) still exists, and while this tool can also help capacity-building efforts towards both those seeking and those providing finance, an institutional attitude adjustment towards social and alternative enterprises is necessary in order to further simplify the process of obtaining finance.
ContributorsDwyer, Robert Francis (Author) / Wiek, Arnim (Thesis director) / Forrest, Nigel (Committee member) / Department of Finance (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
I'm a business major. As a matter of fact, I don't have a lot of opportunities to participate in projects where I can design and build things as my engineering friends do. In fact, I'm not good at building things. And perhaps that's why I soon figured out that Engineering school isn't for me. But business alone seems to be not enough; I crave for something new and exciting and there is nothing more satisfying than seeing a design on paper becoming a tangible product in hands. For that reason, I decided to join InnovationSpace after learning about the program from my professor and my friends who were in the program. My goal through the program is to deliver a product that people find useful, and hopefully, has an impact on their lives.
“InnovationSpace is an entrepreneurial joint venture among the Herberger Institute for Design and the Arts, Ira A. Fulton Schools of Engineering, W.P. Carey School of Business and the Julie Ann Wrigley Global Institute of Sustainability at Arizona State University. The goal […] is to develop products that create market value while serving real societal needs and minimizing impacts on the environment. Put simply, we seek to create products that are progressive, possible and profitable. At the same time, they must have a meaningful impact on the daily lives of ordinary people. InnovationSpace utilizes two fundamental strategies for creating sustainable innovation: a model of new product development known as Integrated Innovation and the emerging field of biomimicry.” — InnovationSpace program syllabus
The focus of the project outlined by Cisco is “to understand the needs of people who face physical, cognitive or sensory disabilities, and develop new products and services for them utilizing the potential of the new technologies called the Internet of Things.” In other words, I am challenged to leverage the Internet of Things technologies to develop a device that benefits individuals with disabilities.
The final product is an automated airport cart — Chariot. Based on stakeholders’ needs interviews, we find that visually impaired people experience difficulties navigating the airport when they need to travel. Many airports attempt to solve this problem by offering wheelchair. However, visually impaired people feel that they are treated unfairly and become dependent on the wheelchairs. Chariot strives to solve this problem by applying the same concept in autonomous vehicle to guide the users through the airport. The users receive their itinerary email that will link to the Chariot app on their phones. When they arrive at the airport, the users simply connect their phones with Chariot and information such as gate number and departure time will be updated in the cart so that Chariot can guide the users to the desired destination. Ultimately, Chariot aims to give visually impaired people more control over their lives.
“InnovationSpace is an entrepreneurial joint venture among the Herberger Institute for Design and the Arts, Ira A. Fulton Schools of Engineering, W.P. Carey School of Business and the Julie Ann Wrigley Global Institute of Sustainability at Arizona State University. The goal […] is to develop products that create market value while serving real societal needs and minimizing impacts on the environment. Put simply, we seek to create products that are progressive, possible and profitable. At the same time, they must have a meaningful impact on the daily lives of ordinary people. InnovationSpace utilizes two fundamental strategies for creating sustainable innovation: a model of new product development known as Integrated Innovation and the emerging field of biomimicry.” — InnovationSpace program syllabus
The focus of the project outlined by Cisco is “to understand the needs of people who face physical, cognitive or sensory disabilities, and develop new products and services for them utilizing the potential of the new technologies called the Internet of Things.” In other words, I am challenged to leverage the Internet of Things technologies to develop a device that benefits individuals with disabilities.
The final product is an automated airport cart — Chariot. Based on stakeholders’ needs interviews, we find that visually impaired people experience difficulties navigating the airport when they need to travel. Many airports attempt to solve this problem by offering wheelchair. However, visually impaired people feel that they are treated unfairly and become dependent on the wheelchairs. Chariot strives to solve this problem by applying the same concept in autonomous vehicle to guide the users through the airport. The users receive their itinerary email that will link to the Chariot app on their phones. When they arrive at the airport, the users simply connect their phones with Chariot and information such as gate number and departure time will be updated in the cart so that Chariot can guide the users to the desired destination. Ultimately, Chariot aims to give visually impaired people more control over their lives.
ContributorsNguyen, Khanh Hoang Tuan (Author) / Trujillo, Rhett (Thesis director) / Hedges, Craig (Committee member) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05