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2016-2017

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  • Thumbnail for  The Influence of an Environmental Tax on Meat Demand in the United States
    The Influence of an Environmental Tax on Meat Demand in the United States by Eggink, Quinten

    This paper estimates the demand of beef, pork and chicken in the United States, in order to explore how the introduction of an environmental meat tax might impact meat demand. The agricultural industry, especially the production of meat, is widely attributed to the emission of greenhouse gases, which directly contributes to climate change. This study draws upon monthly data from the United States Department of Agriculture and the Federal Reserve Bank of St. Louis. Through multivariate regression and the log-log model, this paper estimates various elasticities. The results show an inelastic positive income price elasticity of demand for all meats, and an inelastic price elasticity of demand (PED) that is negative for beef and pork, but positive for chicken. However, due to the chicken’s positive PED, it is excluded from the modeled 10 % tax on meat. This study posits that the introduction of an environmental tax on beef and pork could reduce national greenhouse gas emissions by one thousandth of 2016 levels.

  • Thumbnail for  Ugandan Asians in Leicester: An Analysis of the Wage Effects of Immigration
    Ugandan Asians in Leicester: An Analysis of the Wage Effects of Immigration by Lavin, Ethan

    In an age of rising global populism that led to the historic “Brexit” decision of the U.K. to leave the EU and the rise of right-wing nationalist parties throughout Europe, a commonality is the argument that immigrants suppress wages for native-born workers. Argued by many low-skilled blue collar laborers throughout the world that they suffer the most with high amounts of immigration, this paper analyzes this claim through an historical example. Approaching the question of the effect immigrants have on wages with the resettlement of Ugandan Asians in Leicester, U.K after the 1972 expulsion by Ugandan President Idi Amin, this paper found no observable negative effects upon the wages of native-born Britons as a result of the resettlement. While the Leicester Mercury reported higher unemployment figures among Leicester’s East African population in 1975, correlation to the resettlement of Ugandan Asians cannot be established given that England experienced a recession from 1973-1975.

  • Thumbnail for A Brand New World – The Effect of Brand Equity on the Purchase Intent of Consumers who are Willing to buy from Companies with a Demonstrated Commitment to Sustainability
    A Brand New World – The Effect of Brand Equity on the Purchase Intent of Consumers who are Willing to buy from Companies with a Demonstrated Commitment to Sustainability by Khatri, Niyanta

    The emergence of a corporate culture of investments in sustainability has presented many opportunities and challenges in understanding consumer behavior. In a world of choices, the reasons consumers purchase one product over another can be driven by a multitude of factors. One central tenet affecting the environmentally conscious consumers’ Purchase Intent (PI) towards a company that may or may not demonstrate the same environmental ideas as them lies in the company’s Brand Equity. The assumption is that strong relationships between consumers and the brand equity they place on companies help create stronger, more favorable brand associations, improving brand preference and consequently influencing levels of consumer acceptance. So even though, there is a growing evidence that consumers’ PI are highly correlated with companies that demonstrate a sustainability component, by integrating the literature on Brand Equity and Brand Preferences, this paper hopes to investigate how then does Brand Equity affect consumers’ PI towards companies with a demonstrated commitment to sustainability?

  • Thumbnail for ANALYZING ASSET MARKET CONTAGION DURING CRISES FROM EMERGING ASIAN MARKETS TO THE US
    ANALYZING ASSET MARKET CONTAGION DURING CRISES FROM EMERGING ASIAN MARKETS TO THE US by Howe, Daniel

    This paper investigates whether, during the Asian crisis, the dotcom bubble, and the global crisis, contagion occurred from emerging Asian markets to the US through the stock market. More specifically, this paper explores price comovements between emerging Asian markets (India, Indonesia, the Philippines, Thailand), and two separate control groups (Japan and Europe). The indices selected to represent these markets were the SSEC, BSESN, TOPX, JKSE, SETI, STOXX50, PSI, HSI, and the S&P500. I analyzed a 20-year period from January 1997 to December 2016. The results imply that all markets I studied share interdependence with the US; furthermore, China demonstrates the least amount of price comovements with the US. Finally, I showed that during both the Asian crisis and the dotcom bubble countries such as India, Hong Kong, and Europe, actually de-coupled their markets from the US’s.

  • Thumbnail for Access To The Media And Hiv Knowledge In Nepal
    Access To The Media And Hiv Knowledge In Nepal by Drennan, Quintus

    This paper aims to better understand the role of media in the understanding of HIV in Nepal. This paper uses a compiled probit regression to understand the effect media such as newspapers, radio, and television plays upon the six factors relating to HIV attitudes and awareness on how it spreads This is done separately for men and women. This study uses the DHS data from 2011 for Nepal. Access to media has an effect of between 1% and 32% on HIV related knowledge. This provides an insight on how to reduce its spread effectively in Nepal.

  • Thumbnail for Access to the Media and HIV Knowledge in Nepal
    Access to the Media and HIV Knowledge in Nepal by Drennan, Quintus, IV

    This paper aims to better understand the role of media in the understanding of HIV in Nepal. This paper uses a compiled probit regression to understand the effect media such as newspapers, radio, and television plays upon the six factors relating to HIV attitudes and awareness on how it spreads This is done separately for men and women. This study uses the DHS data from 2011 for Nepal. Access to media has an effect of between 1% and 32% on HIV related knowledge. This provides an insight on how to reduce its spread effectively in Nepal.

  • Thumbnail for African Elephants And The Operation Of Ivory Markets
    African Elephants And The Operation Of Ivory Markets by Garcia-Vicente, Nicolas

    African elephant populations declined from 1.3 million to approximately 600,000 between 1979 and 1989. In 1989 CITES moved the African elephant from Appendix II to Appendix I, officially labeling it as a species threatened with extinction and making the international trading of ivory illegal. Many countries argued that the ban would produce undesired effects because they were putting money from the ivory trade towards conservation efforts, and without these funds they would no longer be able to effectively protect their elephants. In 1997 CITES granted permission of the first of many one-off international sales of ivory stockpiles. Four African countries were allowed to partake in the legal selling of their ivory stockpiles—Botswana, Namibia, South Africa, and Zimbabwe—and these countries are known as the regulated ivory markets of Africa in this and prior analyses. Here I use a long panel data set with seven observations for year and 36 countries to evaluate the effectiveness of the 1989 ban and 1997 CITES ruling. I find that the 1989 ban had a positive overall net effect, in terms of slowing population loss across the entire continent, but produced undesired effects in certain countries, specifically the wealthiest and least corrupt. I also find that the 1997 policy had a positive and statistically significant impact on elephant populations, not only in the four regulated countries, but also in all of Africa in general. These results suggest that CITES has not yet reached its optimal benchmark, in terms of elephant conservation, and that allowing more countries to partake in these legal sales could benefit the elephant populations of Africa as a whole.

  • Thumbnail for An Event Analysis of Corporate Social Responsibility Ratings on Stock Prices
    An Event Analysis of Corporate Social Responsibility Ratings on Stock Prices by Khoo, Adelynn

    Corporate social responsibility (CSR) and its effects on firms who choose to practice it is a growing topic of contention in the economics field. However, much of the studies previously done on the CSR and financial performance (CFP) relationship have been inconclusive. In this research, I used Thomas Reuter’s ESG ratings of CSR to do an event analysis of 100 different firms’ stock prices spanning a time period of ten years, 2007 to 2015. By looking at the percent change in CSR ratings and the percent change in stock prices on the day of ratings announcement, we can account for other factors that affect stock performance and isolate the influence of corporate social responsibility on stock prices. Results of multiple different regression models and robustness checks supported my hypothesis for a positive corporate social performance (CSP) and CFP relationship, in accordance with Stakeholder theory. Specifically, the environmental, social, and ESG ratings had a significant positive impact on stock price. Although the results show a positive relationship between corporate social responsibility and stock performance, the model was not the best fit for the data and therefore further research is necessary. With a more thorough understanding of the CSR-CFP relationship, firms can act accordingly and more efficiently, while ultimately improving their communities’ quality of life.

  • Thumbnail for An Event Analysis of Corporate Social Responsibility Ratings on Stock Prices
    An Event Analysis of Corporate Social Responsibility Ratings on Stock Prices by Khoo, Adelynn

    Corporate social responsibility (CSR) and its effects on firms who choose to practice it is a growing topic of contention in the economics field. However, much of the studies previously done on the CSR and financial performance (CFP) relationship have been inconclusive. In this research, I used Thomas Reuter’s ESG ratings of CSR to do an event analysis of 100 different firms’ stock prices spanning a time period of ten years, 2007 to 2015. By looking at the percent change in CSR ratings and the percent change in stock prices on the day of ratings announcement, we can account for other factors that affect stock performance and isolate the influence of corporate social responsibility on stock prices. Results of multiple different regression models and robustness checks supported my hypothesis for a positive corporate social performance (CSP) and CFP relationship, in accordance with Stakeholder theory. Specifically, the environmental, social, and ESG ratings had a significant positive impact on stock price. Although the results show a positive relationship between corporate social responsibility and stock performance, the model was not the best fit for the data and therefore further research is necessary. With a more thorough understanding of the CSR-CFP relationship, firms can act accordingly and more efficiently, while ultimately improving their communities’ quality of life.

  • Thumbnail for BLACK, WHITE, AND GREEN: THE EFFECT OF LEGALIZATION ON COLORADO’S CANNABIS BLACK MARKET
    BLACK, WHITE, AND GREEN: THE EFFECT OF LEGALIZATION ON COLORADO’S CANNABIS BLACK MARKET by Davie, Austin

    This study aimed to investigate the results of new cannabis policies, focusing on the state of Colorado and how the implementation of retail legalization affected the illicit black market of cannabis in the state. It analyzed ten interviews from black market operators using Grounded Theory methods, including the process of open-coding, the creation of axial codes, and finally the formation of a tentative core. After studying the tentative core, it was clear that they aligned perfectly with a strategic management Environmental Scan model for industry evaluation. Careful analysis of the operations of the black market industry, including opportunities and threats stemming from the effect of legalization, showed that the implementation of this policy has forced a change in black market operations in Colorado.

  • Thumbnail for Birth Rate’s Effect on Economic Growth- A Study Focusing on China’s Family Planning Policy
    Birth Rate’s Effect on Economic Growth- A Study Focusing on China’s Family Planning Policy by Qi, Jiawen

    This paper examines the birth rate’s effect on economic growth focusing especially on China from the year 1979 to the year 2014 since this was the period when the one-child policy was applied. This study uses a panel dataset that contains data of 28 Chinese provinces and uses Fixed Effect and system GMM as the main estimation methods to conduct an empirical analysis. Also, this research uses the rate of people who only have one child as an instrumental variable to control for the endogeneity of the birth rate for the year 2000 to the year 2010. The results suggest that birth rate has no significant effect on the growth of GDP. Although this result is not consistent with the results of some previous research that birth rate has a positive effect on economic growth, it suggests some possible reasons for the introduction of the new two-child policy in December 2015.

  • Thumbnail for Building the Next Great Empire One Country at a Time: Exploring the Factors of Regional Growth in Modern Times
    Building the Next Great Empire One Country at a Time: Exploring the Factors of Regional Growth in Modern Times by Yildiran, Baran

    Stagnant wages, lack of opportunities and constant decay of certain region in the last decades brought a huge wave of political backlash that pushes policymakers to deliver growth solutions to those who feel left behind. At such times, the research of regional economics becomes ever more important. Most studies provide insights into mathematical patterns of scaling of physicality, the concentration of specific industries or the trends in particular regions. Few studies test multiple different variables altogether and very few look at the transferability of the findings to other regions and to other time periods. This thesis explores the relevance of historical and recent predictors and tries to provide a comprehensive analysis on recent trends in the growth of U.S. productivity to fill the critical gap of recent developments while controlling for some historical characteristics.

  • Thumbnail for CAMPAIGN SPENDING ON ELECTION OUTCOMES
    CAMPAIGN SPENDING ON ELECTION OUTCOMES by Shin, Junnor

    The goal of this study is to analyze the effects of campaign spending on the percentage of votes received for a candidate and the election outcome. This is achieved through correlating independent variables specifying the candidate’s spending, candidate’s characteristics, and state’s characteristics on the dependent variable of either vote percentage for a candidate or wins and losses. Using Tobit regression analysis, for every $1 dollar increase in campaign spending, the vote percentage received will increase by 6.77×10^-7. Using Probit regression analysis, for every $1 dollar increase in campaign spending the probability of winning increases by 5.12×10^-8. Other variables such as the incumbent status of a candidate, celebrity status, party affiliation, scandals, percentage of registered voters in the candidate’s party, state partisanship, state unemployment, and state population were included in the study to further analyze other factors determining the percentage of votes received and ultimately, the election outcome.

  • Thumbnail for Can An Increase In Mental Health Resources Decrease Crime Rates? A County-Level Analysis
    Can An Increase In Mental Health Resources Decrease Crime Rates? A County-Level Analysis by Di Filippo, Leah

    The increase in the incarceration rate and the decrease of mental institutions led to a disproportionate amount of offenders with mental illnesses. Current literature has explored the effect of mental health treatment on offenders in order to reduce recidivism, but the relationship between the level of mental health resources and crime rates in general has yet to be researched. This paper investigates this relationship at a county-level for the continental United States in order to address this break in literature. Mental health, criminological, and economic data are combined to illustrate a complete representation of the relationship between the availability of mental health resources and the crime rate. Both the total county crime rate and the county violent crime rate are analyzed in context of this relationship. This study concludes that both the total county crime rate and the county violent crime rate are marginally positively correlated with a lack of mental health resources. While the findings do not represent a large effect, this study proves that there is a significant relationship between crime rates and mental health resources.

  • Thumbnail for Capital Investment as a Predictor of Revenue Growth in the Materials and Information Technology Sectors
    Capital Investment as a Predictor of Revenue Growth in the Materials and Information Technology Sectors by Keene, Thomas C., Jr.

    Research about drivers of revenue growth or other firm-specific metrics has been studied, but no research has focused on the impact of capital investment as the primary driver of revenue growth. In this paper, we test the hypothesis, “capital investment positively affects revenue growth, and affects young sectors to a greater extent than mature sectors.” We use cross sectional time series GLS for both sectors and find evidence to partially support the claim. We find that there is positive correlation between capital investment and revenue growth for the S&P 500 Materials sector whereas capital investment is not a significant predictor of revenue growth for the S&P 500 Information Technology sector.

  • Thumbnail for Changing With the Rules: Competitive Balance in the NFL
    Changing With the Rules: Competitive Balance in the NFL by Tweedy, Benjamin McGoldrick

    This article examines the impact of on-the-field rule changes on competitive balance in the NFL. This is done using the Herfindahl-Hirschman Index and other team statistics from 1970 through the 2016 regular season of the National Football League. Using a Two-Stage-Least-Squares regression this study’s results do not support that on-the-field rule changes may impact competitive balance. This study's findings are companionless with respect to related literature.

  • Thumbnail for Cost-Benefit Analysis of Xeriscaping: A Colorado College Case Study
    Cost-Benefit Analysis of Xeriscaping: A Colorado College Case Study by Babbitt, Phillip

    Xeriscaping, a landscape technique geared towards water conservation, can reduce water consumption by 10% to 50%. The cost of xeriscaping ranges from $0.90 per square foot to $1.45 per square foot. Most studies on xeriscaping examine the issue from a homeowner’s perspective, whereas, relatively few people have explored the issue from an institutional standpoint. Making landscape decisions for semi-public lands, like a college campus, is complicated because there are multiple users. This thesis looks at the potential of xeriscaping on the Colorado College campus. A financial analysis is used to determine how much various xeriscaping projects would cost. To understand how or if the student body would benefit from xeriscaping, a survey was used. Xeriscaping could be an educational tool and help promote a sense of place among the student body. Xeriscaping would save Colorado College water, but how the students would benefit is still unknown.

  • Thumbnail for Determinants of a school’s dropout rate in Wisconsin public high schools
    Determinants of a school’s dropout rate in Wisconsin public high schools by DeMay, David

    This paper looks into the determinants of a high school’s dropout rate using panel data from 687 public high schools in Wisconsin. Using an OLS model this paper finds a few variables at the 5% significance level to have an effect on a high school’s dropout rate. A school’s funding, the racial breakdown of the student body, the education level of the local area, the unemployment rate of the local area, and the school’s student to staff ratio were all found to be significant determinants of a high school’s dropout rate. An effective initiative in bringing U.S. high school dropout rates down to those of other developed countries has the potential to save the U.S. trillions of dollars. Analyses similar to this one are the first step in achieving that goal.

  • Thumbnail for Determining the Impact of Bundled Payments on Patient Satisfaction Levels: a Regressive Analysis on a Cost Saving Method Within Healthcare
    Determining the Impact of Bundled Payments on Patient Satisfaction Levels: a Regressive Analysis on a Cost Saving Method Within Healthcare by Zhang, Dennis

    Rising healthcare costs have prompted healthcare systems and public policymakers to begin to consider alternative payment structures. However, with the recent implementation of the Affordable Care Act and other healthcare mandates, patient satisfaction is becoming an increasingly important topic that will soon influence hospital compensation. An OLS regression was used to investigate if a new method of cost saving known as bundled payments has any impact on patient satisfaction levels. Using panel data on patient satisfaction and on healthcare systems that participated in an experimental bundled payment program, the results suggest that bundled payment programs have no significant impact on patient satisfaction levels. While there are notable data issues that frame the interpretation of the results somewhat, this study indicates that bundled payment structures can preserve care delivery.

  • Thumbnail for Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value
    Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value by Reddy, Nitika

    This paper examines the relationship of gender and racial diversity on corporate boards and firm value for high tech companies. Firm value is measured in an approximation of Tobin’s Q and diversity is measured by the percentage or presence of women or minorities on a board. The study looks at the high tech firms that are listed on the Fortune 1000 for 2016. Pervious studies on this topic have had relatively positive results, but have no one has specifically looked at the high tech industry. The high tech sector is a nontraditional sector due to its recent rapid growth and large impact on the United State’s GDP. The results showed that gender diversity did not have any affect on firm value, while racial diversity had a negative affect.

  • Thumbnail for Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value
    Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value by Reddy, Nitika

    This paper examines the relationship of gender and racial diversity on corporate boards and firm value for high tech companies. Firm value is measured in an approximation of Tobin’s Q and diversity is measured by the percentage or presence of women or minorities on a board. The study looks at the high tech firms that are listed on the Fortune 1000 for 2016. Pervious studies on this topic have had relatively positive results, but have no one has specifically looked at the high tech industry. The high tech sector is a nontraditional sector due to its recent rapid growth and large impact on the United State’s GDP. The results showed that gender diversity did not have any affect on firm value, while racial diversity had a negative affect.

  • Thumbnail for Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value
    Diversifying High Tech Sector Boards: How Women and Racial Minorities on Corporate Boards Affect Firm Value by ,

    This paper examines the relationship of gender and racial diversity on corporate boards and firm value for high tech companies. Firm value is measured in an approximation of Tobin’s Q and diversity is measured by the percentage or presence of women or minorities on a board. The study looks at the high tech firms that are listed on the Fortune 1000 for 2016. Pervious studies on this topic have had relatively positive results, but have no one has specifically looked at the high tech industry. The high tech sector is a nontraditional sector due to its recent rapid growth and large impact on the United State’s GDP. The results showed that gender diversity did not have any affect on firm value, while racial diversity had a negative affect.

  • Thumbnail for Diversifying Tech Industry Boards: How Women and Racial Minorities on Corporate Boards can affect Firm Value
    Diversifying Tech Industry Boards: How Women and Racial Minorities on Corporate Boards can affect Firm Value by Reddy, Nitika

    This paper examines the relationship of gender and racial diversity on corporate boards and firm value for high tech companies. Firm value is measured in an approximation of Tobin’s Q and diversity is measured by the percentage or presence of women or minorities on a board. The study looks at the high tech firms that are listed on the Fortune 1000 for 2016. Pervious studies on this topic have had relatively positive results, but have no one has specifically looked at the high tech industry. The high tech sector is a nontraditional sector due to its recent rapid growth and large impact on the United State’s GDP. The results showed that gender diversity did not have any affect on firm value, while racial diversity had a negative affect.

  • Thumbnail for Do Long-Term Contracts Encourage Shirking In Major League Baseball
  • Thumbnail for Email Marketing For Advancement: Understanding the Impact of Email Solicitations on Donations at Colorado College
    Email Marketing For Advancement: Understanding the Impact of Email Solicitations on Donations at Colorado College by Whitney, Lona Maria

    This thesis helps build a better understanding of how email communications impact charitable giving to Colorado College. Specifically, it examined how email performance metrics commonly used to measure email performance translate into dollar amounts of donations. The findings of this research can be used to inform decisions regarding the college’s digital communication strategy and to create more effective, targeted communications that can increase the number of donations Colorado College receives per email sent out. The results of this research indicate that email performance metrics – specifically the open rate – can be used to determine how an email translated to donations. The coefficients on the open rate were used to develop a simplified email scoring system that gives the everyday email communicators of CC a tangible tool to gauge how their email actually performed.