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2018-2019

68 hits

  • Thumbnail for  INTELLECTUAL PROPERTY RIGHTS AND THE SOUTH KOREAN MUSIC INDUSTRY: ARE COPYRIGHT LAWS STRENGHTENING MAJOR LABEL MARKET POWER?
    INTELLECTUAL PROPERTY RIGHTS AND THE SOUTH KOREAN MUSIC INDUSTRY: ARE COPYRIGHT LAWS STRENGHTENING MAJOR LABEL MARKET POWER? by Fabie, Noah

    SM Entertainment, JYP Entertainment, and YG Entertainment, often referred to as “The Big Three”, are accredited with launching K-Pop onto the global scene. Before “The Big Three”, the South Korean music industry acclimated to tighter copyright policies between the 1960s and the late 2000s. Popular economic theory suggests that intellectual property right laws negatively impact social welfare and increase monopoly power. Using music chart data from 2011 to 2017, this analysis investigates whether or not these effects are prevalent in the South Korean music industry.

  • Thumbnail for  THE DETERMINANTS THAT INFLUENCE CONSUMER PURCHASE INTENTIONS FOR ELECTRIC AND HYBRID VEHICLES
    THE DETERMINANTS THAT INFLUENCE CONSUMER PURCHASE INTENTIONS FOR ELECTRIC AND HYBRID VEHICLES by ,

    Using data from the U.S. Bureau of Labor Statistics, U.S. Bureau of Transportation Statistics, U.S. Department of Energy from 2013 and 2018, I use an OLS and binary probit regression transformed with marginal effects, to determine what factors influence consumers to purchase electric and hybrid vehicles. The results of the regressions indicate that few people are purchasing electric and hybrid vehicles. The research and results look at driver commute times and high-occupancy vehicle lane (HOV) access for electric and hybrid vehicle drivers, to see if daily driving patterns make an impact in the decision-making process. States that give HOV access to electric and hybrid vehicle drivers positively influences consumers to buy an electric or hybrid vehicle, while longer commute times sway people away from electric or hybrid vehicles. Further research needs to be done to find exactly how people make the choice to purchase these vehicles.

  • Thumbnail for A Better Way to Give: Rethinking Resource Allocation in the Nonprofit Sector with an Impact-First Approach
    A Better Way to Give: Rethinking Resource Allocation in the Nonprofit Sector with an Impact-First Approach by Widoff, Ethan Beck

    This research aims to improve practices in the nonprofit sector by countering the current giving method, weakened by anti-overhead biases in popular evaluation models, with a new impact-first approach. Focused on the outputs nonprofits produce, this approach first incorporates a new evaluation model uniquely geared to illustrate the ability each given nonprofit has to create impact. Second, this alternative model will open the door to a new impact performance variable, measuring the efficiency at which nonprofits produce impact given their capability to do so.  As a result, this impact-first approach can more accurately identify nonprofits most efficient at producing impact encouraging stronger resource allocation to these organizations – a better way to give.

  • Thumbnail for A CONTEMPORARY FERTILITY MODEL: HAVE THE FACTORS INFLUENCING WOMEN’S DECISIONS TO HAVE CHILDREN CHANGED SINCE THE MID-TWENTIETH CENTURY?
    A CONTEMPORARY FERTILITY MODEL: HAVE THE FACTORS INFLUENCING WOMEN’S DECISIONS TO HAVE CHILDREN CHANGED SINCE THE MID-TWENTIETH CENTURY? by Veale, Brooke Jennifer

    The bulk of fertility research—or research surrounding which factors influence women’s decisions to have children—was conducted in the mid-twentieth century, when women joined the labor force at unprecedented rates and drastically altered the nature of the United States economy. Very little research has been conducted since. This study therefore aims to generate a contemporary fertility model in order to determine how the factors influencing women’s fertility decisions have changed since the 1950s, especially considering how women’s rights and the traditional family structure have changed since the 1950s. Using a probit regression model, it is found that a woman’s age, marital status, race, education, employment status, and income all significantly impact her likelihood of having a child. It is also found that, contrary to findings from the mid-twentieth century, extrinsic variables such as spouse’s income, women’s wages relative to men’s, and relative economic aspirations do not impact women’s decisions to have children. The results of this study therefore suggest that the factors influencing women’s fertility decisions have in fact changed since the mid-twentieth century—changes likely attributable to women’s increased independence, both in terms of the economy and the structure of the family.

  • Thumbnail for A TEST OF BENJAMIN GRAHAM’S STOCK SELECTION CRITERIA ON THE CONTEMPORARY U.S. STOCK MARKET
    A TEST OF BENJAMIN GRAHAM’S STOCK SELECTION CRITERIA ON THE CONTEMPORARY U.S. STOCK MARKET by Stern, Jordan

    This paper examines if Benjamin Graham’s 10 stock selection criteria can be used to generate returns that are significantly greater than the returns of the modern U.S. stock market. In order to assess performance, 15 portfolios are generated using certain combinations of Graham’s criteria. Data is selected from all U.S. stock exchanges between the years of 2006 and 2010, and portfolios are held for two-year periods. Ordinary least squares regressions are performed using a risk adjustment model derived from the capital asset pricing model (CAPM). The study finds that of the 15 Ben Graham portfolios created, only five significantly outperform the market. The significant portfolios are distributed across different years and combinations of criteria, indicating that no set of criteria performs better than the rest. The results suggest that Graham’s selection criteria no longer yield excess risk-adjusted returns in the current U.S. market. It is worth noting that despite only five portfolios producing significant positive returns, 14 portfolios performed higher than the market on a risk-adjusted basis. This finding demonstrates that perhaps untested combinations of criteria, studied over a larger period of time, could produce contrary results.

  • Thumbnail for AMERICA’S FAVORITE PASTIME VS THE GREAT RECESSION: HOW UNEMPLOYMENT AFFECTED ATTENDANCE OF MAJOR LEAGUE BASEBALL GAMES DURING THE RECESSION OF 2007-2009
    AMERICA’S FAVORITE PASTIME VS THE GREAT RECESSION: HOW UNEMPLOYMENT AFFECTED ATTENDANCE OF MAJOR LEAGUE BASEBALL GAMES DURING THE RECESSION OF 2007-2009 by Katich, Payton Amber

    Previous research has demonstrated how the Great Recession affected attendance for Major League Baseball. The purpose of this study is to show that high levels of unemployment had the most significant impact on attendance during the recession. Data was collected from 2006, 2008, and 2011 to create a linear regression model that includes attendance for all thirty Major League Baseball teams, the unemployment rates in the corresponding Metropolitan Statistical Areas, and various demographics. Using OLS estimators, the results suggest that unemployment did not have a statistically significant effect on attendance. However, attendance was higher in areas with larger populations of women, African Americans, and people between the ages of 35 to 54. Thus, this study is useful because it provides the framework for an effective marketing plan Major League Baseball teams can use to maintain attendance rates during the next recession.

  • Thumbnail for AN ANALYSIS ON BITCOIN VOLATILITY: EXAMINING THE DRIVERS BEHIND BITCOIN PRICE
    AN ANALYSIS ON BITCOIN VOLATILITY: EXAMINING THE DRIVERS BEHIND BITCOIN PRICE by Tran, Quang Vinh

    Bitcoin was introduced after 2008 financial crisis as a more secure form of currency, however its volatility within the past decade has shown that Bitcoin’s price fluctuation can be caused by multiple factors. This study aims to examine the drivers that caused Bitcoin’s price to fluctuate as well as predict how these drivers impact Bitcoin’s future. This study conducts an OLS regression model analysis to test for a correlation between Bitcoin’s historical price and historical prices of Ripple (XRP), Ethereum (ETH), the U.S. Dollar (USD), Gold (by the ounce), Google Trends data, as well as a regulation &policy timeline. What was concluded is that all these chosen variables, with the exception of Gold, proved to have a statistically significant correlation with Bitcoin price.Furthermore, both federal and state regulations also played a significant role in drivingBitcoin prices.

  • Thumbnail for ANALYSIS OF THE 2004 NHL LOCKOUT’S EFFECT ON PLAYER HEIGHT AND WEIGHT
    ANALYSIS OF THE 2004 NHL LOCKOUT’S EFFECT ON PLAYER HEIGHT AND WEIGHT by Farny, Andrew

    This paper analyzes the effects of the 2004 lockout on the current playing style of the National Hockey League (NHL). Using NHL data from before and after the 2004-2005 lockout season, this paper examines the impact a player’s height and weight has on their point share value. Through the use of Newey-West and quantile regression analysis, this paper finds that the league is shifting from heavier, more massive players to smaller and stronger players. The findings from this paper advance the current field of hockey analytics and provide new insights into future NHL player personnel decisions.

  • Thumbnail for Abortion Legislation, Women's Rights, and The Gender Wage Gap
    Abortion Legislation, Women's Rights, and The Gender Wage Gap by Tulchinsky, Ella

    The gender wage gap is the inequality in what men and women are paid. Historically, men have earned more than women in the labor force. The gap between wages is slowly converging over time, but women still only make about 80 cents for every dollar earned by men. Prior research explains that the main factors behind the prevalent wage inequality is mainly a function of occupational segregation and women’s lack of labor market experience. However, there is still a large amount of the wage gap that is unexplained. This research project investigates if there is a link between women’s contraceptive rights and the wages they receive. Specifically, this research examines the role of differing abortion laws in altering women’s life-cycle wages, and its ultimate implications for the gender wage gap. Findings suggest that that there is a positive relationship between restrictive abortion legislation and the gender wage gap at the 75th percentile.

  • Thumbnail for BETWEEN WORK AND FAMILY: CALIFORNIA’S PAID FAMILY LEAVE LAW AND ITS EFFECTS ON GENDER DISPARITIES IN TIME-USE AND WELL-BEING
    BETWEEN WORK AND FAMILY: CALIFORNIA’S PAID FAMILY LEAVE LAW AND ITS EFFECTS ON GENDER DISPARITIES IN TIME-USE AND WELL-BEING by Coyle, Bryna

    The United States is the only advanced, industrialized country without a federal paid family leave law. Corporate social responsibility (CSR) literature surrounding state-level paid leave policies point to the far-reaching benefits associated with offering families paid time off to bond with a new child or care for a sick family member. In this paper, we use individual responses from the American Time Use Survey and implement difference in difference, difference in difference in difference and ordered probit models to analyze time-use and well-being among heterosexual couples. Results show that leave-eligible fathers spend approximately 30 minutes more in housework activities each day than non-eligible fathers and that eligible mothers in California experience more meaningfulness and less stress at work. Findings of this study highlight the gender equality and well-being outcomes of paid leave in the United States.

  • Thumbnail for BEYOND THE GAME: THE ROLE OF CHARACTER AND TALENT IN THE NFL DRAFT
    BEYOND THE GAME: THE ROLE OF CHARACTER AND TALENT IN THE NFL DRAFT by Conlon, Rae

    This paper examines the impact of character and talent on whether a running back is drafted and on the draft position of that player. Talent is represented by a variety of college and combine statistics. The paper also examines if draft day character and talent measures explain that player’s NFL productivity, measured after 2, 3, 4 & 5 seasons. Data include 374 running backs that played in the NFL from 1999-2018.

  • Thumbnail for BEYOND THE GAME: THE ROLE OF CHARACTER AND TALENT IN THE NFL DRAFT
    BEYOND THE GAME: THE ROLE OF CHARACTER AND TALENT IN THE NFL DRAFT by Conlon, Rae Emily

    This paper examines the impact of character and talent on whether a running back is drafted and on the draft position of that player. Talent is represented by a variety of college and combine statistics. The paper also examines if draft day character and talent measures explain that player’s NFL productivity, measured after 2, 3, 4 & 5 seasons. Data include 374 running backs that played in the NFL from 1999-2018.

  • Thumbnail for COLLEGE CHARACTERISTICS AND THEIR IMPACT ON ADVANCING PLAYERS INTO THE NFL
    COLLEGE CHARACTERISTICS AND THEIR IMPACT ON ADVANCING PLAYERS INTO THE NFL by Kwiecinski, Nathan

    This thesis analyzes the impact of college characteristics on the advancement of players into the NFL by examining data from the BIG-10, BIG-12, ACC, and SEC college football programs over the years of 2015-2017. By using an ordinary least squares regression, it is found that recruiting class rank, coach’s salary, average attendance and strength of schedule resulted in having a positive effect on advancing players into the NFL.

  • Thumbnail for Can Corporations Do Well and Do Good? An Analysis of Corporate Social Responsibility in the United States and Europe
    Can Corporations Do Well and Do Good? An Analysis of Corporate Social Responsibility in the United States and Europe by Lamis, David Alexander

    This paper investigates the impact of Corporate Social Responsibility (CSR) on Corporate Financial Performance (CFP) in the United States and Europe between 2008-2017. Analyzing the top firms from the Globe Reptrack 100, the biggest study on corporate reputation worldwide, the paper puts forward evidence supporting stakeholder theory as well as CSR’s impact on earnings on both continents. The paper measures financial performance using the natural log of Net Income and Corporate Social Responsibility using CSR Hub data. Its findings both agree with and contradict the predominant literature. It concurs with the literature in its support of Stakeholder Theory as CSR is shown to be a positive indicator of financial performance. It diverges from the literature in that American firms are more highly rewarded for CSR investment than their European counterparts.

  • Thumbnail for Colorado Springs Public Park Amenities: Relating Park Types to Housing Prices With a Spatial Context
    Colorado Springs Public Park Amenities: Relating Park Types to Housing Prices With a Spatial Context by Suszynski, Gabriel Joseph

    This study seeks to evaluate the effects of public parks on housing prices in Colorado Springs. I expand on previous hedonic housing price models by adding a spatial metric as well as characterizing public parks into four categories: neighborhood, community, open space, and regional. I do this to differentiate the types of parks and provide better data to urban planners about consumer preferences. It is an ordinary least squares estimation and the variable of interest is distance. Contrary to the hypothesis that housing prices will increase with proximity to parks, for every mile closer to a neighborhood park a house is estimated to be worth $15,080 less. A house is estimated to be worth $16,900 more for every mile closer to an open space. When the tests are run on a subset of the data using only condominium sales, the original hypothesis proves true, value increases with proximity to all park types. Urban planners in the United States can use this as valuable insight when developing plans for public parks in the future.

  • Thumbnail for Corporate Social Responsibility and Stock Returns: An Analysis of Corporate Social Performance and Corporate Financial Performance.
    Corporate Social Responsibility and Stock Returns: An Analysis of Corporate Social Performance and Corporate Financial Performance. by Wesley, Griffin

    There has been a lot of research done in the past to determine the relationship between Corporate Social Performance (CSP), Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). The results of past research have been divided and inconclusive. This paper examines how CSR scores, obtained from CSRHub, interact with stock returns on a quarterly basis. The models in this paper utilize an overall CSR score, and the Fama-French three factor mode (Fama & French 1993), to predict stock returns. Using five regressions, this study finds that there is a negative relationship between CSR and stock returns. While this result is consistent with that of Brammer et al. (2008), it is in opposition to the majority of past research which finds a positive relationship between the two variables.

  • Thumbnail for DETERMINING THE NET IMPACT OF COAL PRODUCTION ON THE WELLBEING OF COMMUNITIES: A SOUTH AFRICAN CASE STUDY
    DETERMINING THE NET IMPACT OF COAL PRODUCTION ON THE WELLBEING OF COMMUNITIES: A SOUTH AFRICAN CASE STUDY by Hutchings, Riley

    The purpose of this study is to question the world’s dependence on coal power by exploring the avenues through which coal production (extraction, transportation, and combustion) impact the health, climate, and economic wellbeing of communities. It uses South Africa as a case study because South Africa has a high percentage of coal in its energy mix and extracts large amounts of coal. This research finds that coal production in South Africa worsens the health of South African communities and accelerates climate change, threatening the food and water supplies of millions of people within and outside of the country. This analysis does not find conclusive evidence that coal production contributes to widespread economic growth in South Africa. It also reveals that potential gains from economic growth on communities are offset by health and climate damages.

  • Thumbnail for DOES A NATIONAL PARK'S PROXIMITY TO CALIFORNIA WILDFIRES IMPACT ITS VISITATION RATES?
    DOES A NATIONAL PARK'S PROXIMITY TO CALIFORNIA WILDFIRES IMPACT ITS VISITATION RATES? by Engen, Annette

    Wildfires in California are getting larger and more frequent – a trend that is only expected to worsen with time. Previous studies explain that a primary reason for visiting California national parks is for their beautiful vistas. Wildfires release a variety of pollutants, such as ozone and particulate matter, which have detrimental effects on those vistas. As the number of wildfires increases, park visibility worsens. This thesis examines the impact of wildfires on national park attendance, evaluating whether poor park visibility may inspire visitors to cancel their visits to parks closer to fires and instead visit parks farther from wildfires with better visibility. More specifically this thesis asks whether a national park’s proximity to a California wildfire impacts visitation rates. To answer this question, univariate and multivariate regressions using monthly park attendance, wildfire, and pollution data test several hypotheses. Results show that visitors ultimately do not consider nearby fire activity in their decision to visit a national park, and that a park’s proximity to a California forest fire has no substantial effect on attendance levels.

  • Thumbnail for Demographic and Socioeconomic Factors That Affect an Individual’s Financial Risk Tolerance
    Demographic and Socioeconomic Factors That Affect an Individual’s Financial Risk Tolerance by Seu, Risa

    I use the 2016 Survey of Consumer Finance (SCF) from the Federal Reserve and examine the impact of demographic and socioeconomic variables on people’s financial risk willingness, as well as percentage of stocks, bonds, and mutual funds. I compare the results of these regressions to infer what variables allow people to be more risk tolerant. The results show that being Black/Hispanic and having financial dependents decreases people’s financial risk tolerance. On the other hand, people in the categories never married, greater income, higher education, positive outlook of the economy for the next five years, and work in the finance industry have greater risk tolerance than their counterparts.

  • Thumbnail for Designing a Carbon Tax for the State of Colorado
    Designing a Carbon Tax for the State of Colorado by Brent, Anna

    Climate change presents an existential threat to humanity and to ecosystems across the globe. Our planet is warming and natural equilibriums are shifting. If governments, corporations and individuals fail to act we will continue to see increases in the frequency and intensity of droughts and precipitation, extreme temperatures and sea level rise (IPCC, 2018). Greenhouse gas emissions contribute heavily to the negative effects of climate change and is one area in which human activity can make a difference. Several countries have successfully priced carbon in order to reduce greenhouse gas emissions. Colorado, as a politically and demographically diverse state has a unique ability to act on the climate crisis. We also have the responsibility to act due to our vast natural resources. This paper uses the existing literature on climate change mitigation and economic theory such as the internalization of externalities and social marginal cost to design a carbon tax for the state of Colorado. It uses survey data from 415 Coloradans about their opinions on climate change and carbon taxation policy proposals. Results of the survey show that a majority of respondents believe climate change is an urgent problem facing Colorado and that the state should take action. 56.97 percent of respondents support a carbon tax starting at 10 dollars per metric ton of carbon dioxide equivalent emissions and increasing by two dollars annually. Results also show that the majority of respondents would be more likely to support the carbon tax if revenue was reinvested in sustainable programs and if the tax significantly reduced emissions. This paper uses these results along with the theory and global examples to inform a policy proposal for a carbon tax in Colorado.

  • Thumbnail for Do Senators moderate in election years? Evidence from Twitter
    Do Senators moderate in election years? Evidence from Twitter by Chen, Lilly

    I use topic modeling and principle component analysis to construct an index of inflammatory language using Twitter data from Senators. I estimate the effect of difficult election years on language moderation using different treatment groups— Senators who faced closed general elections in 2016, and Senators who ran in states that voted for the opposite party’s presidential candidate in 2016— in line with the median voter theorem. I find Senators in close elections are more inflammatory on average, and Senators in opposite party states did not moderate in the election year.

  • Thumbnail for ECONOMIC TRANSFORMATION OF DETROIT THROUGH REAL ESTATE
    ECONOMIC TRANSFORMATION OF DETROIT THROUGH REAL ESTATE by Gooch, Trevor John

    An exploratory study of Detroit’s economic trends with a focus on Real Estate with relationship to crime rates. This paper looks not only at the past but the present and future of Detroit’s success and what the city needs to do in order to ensure that it is a top destination city in America. Their population has been on a steady decline since the deindustrialization of the United States, while crime rates have sky rocketed since the start of the 21st Century. Their real estate market has been sub-par compared to similar Rust Belt cities but is showing signs of increasing which will hopefully separate Detroit from its’ gloomy past.

  • Thumbnail for EFFECTS OF ENERGY STAR RATINGS ON COMMERCIAL OFFICE SPACE RENT
    EFFECTS OF ENERGY STAR RATINGS ON COMMERCIAL OFFICE SPACE RENT by Pollack, Andrew Rae

    Energy Star rated commercial office space has been well researched in the United States with national level data. This research takes a step back from this aggregate data and investigates the impact that an Energy Star rating has on the rent of commercial office space in the Denver, Colorado market. Rent data from the Denver commercial office space market was collected and analyzed using the framework of an existing model from a previous research study. The value of an Energy Star Rated building is considered through both the risk and return of an investment. While the results do not yield a rent premium for Energy Star rated office space in the Denver market, the risk is shifted, reducing exposure to the energy industry which could prove as an equally valuable asset for institutional investors and developers.

  • Thumbnail for EFFECTS OF INTERNATIONAL TRADE WITH CHINA ON INCOME INEQUALITY IN THE UNITED STATES AND UNEMPLOYMENT RATES OF BLACK AND WHITE LABORERS.
    EFFECTS OF INTERNATIONAL TRADE WITH CHINA ON INCOME INEQUALITY IN THE UNITED STATES AND UNEMPLOYMENT RATES OF BLACK AND WHITE LABORERS. by Shi, Haonan

    Imports from China have grown over 1,156% since 2001. Increasing imports have partially caused the US export and manufacturing job decline. This study uses an ARDL model to deduce if trading with China contributes to the widening US income gap, as well as the discrepancy between Black and white unemployment rates. A second model utilizes commuting zone-based trade and technology exposure data from Autor, Dorn, and Hanson (2015) to evaluate the effects of trade and technology exposure, college education, gender, and CZs African American population on manufacturing job loss. The key addition to previous models is the racial factor. Results indicate that international trade disproportionally impacts unskilled laborers, affirming findings from prior economic studies. This study also found international trade disproportionally contributes to Black unemployment in comparison to white unemployment.

  • Thumbnail for Environmental, Social, and Governance Ratings and Its Effects on Corporate Financial Performance of Financial Companies
    Environmental, Social, and Governance Ratings and Its Effects on Corporate Financial Performance of Financial Companies by Brandstrader, Annie Zheng

    This paper examines Environmental, Social, and Governance (ESG) ratings and their correlation to the stock price of 59 US financial firms. The ESG ratings used were from CSRHub and the company stock prices were from yahoo.finance.com taken on a monthly basis for four years spanning from August 2014 to July 2018. An empirical model based on panel data was used to determine whether each rating category had a positive or negative effect on a company’s stock price. The data was conclusive in showing that the environmental, governance, and subcategory of employees had a positive impact on company stock price, and the overall social rating and the subcategory community rating had a negative impact on company stock price.