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  • Thumbnail for A signal in the NFL Draft : does the NFL Combine have a positive informational value?
    A signal in the NFL Draft : does the NFL Combine have a positive informational value? by Auguste, Melanie

    A previous study suggests NFL teams are inefficient in their draft decisions. Additionally, previous studies find the NFL Combine to be a predictor of draft position but not a predictor of NFL performance. This has led some to question the overall usefulness of the Combine. The focus of this study is to determine if the NFL Combine has a positive informational value to decisions made in the NFL Draft. From an alternative perspective, this study suggests the Combine is only used to identify the best available players in a specific position for a specific year. Therefore the Combine's informative value to the NFL is its ability to act as a signal, by separating prospects in specific positions into groups based on characteristics that indicate their perceived value. A Spearman Rank Correlation is utilized to evaluate this hypothesis. Combine performance is found to significantly relate to draft round for Running Backs, Linebackers, and Defensive Backs. Alternatively, collegiate performance relates to draft round for Running Backs, Wide Receivers, Tight Ends, Defensive Ends, and Linebackers. For these positions, with the exception of Running Backs and Linebackers, collegiate performance appears to act as a signal instead of Combine performance. The Combine can be considered a signal only for Running Backs, Linebackers, and Defensive Backs. Therefore there is evidence of signaling within the NFL Draft for six of the eight skill positions observed. Further, evidence from this study suggests the additional information from the Combine has a positive value when it has an influence on draft decisions. Therefore the Combine appears to have a positive informational value, but further research is necessary.

  • Thumbnail for A five forces analysis of niche and generic networks in the online social networking industry
    A five forces analysis of niche and generic networks in the online social networking industry by Fry, James R

    An online social network is a venue on the internet designed for interactions among members of a community. Hundreds of millions of people across the world engage in social networking to connect with each other making this relatively new practice a significant part of our lives. This year online social network membership is expected to include 50% of internet using adults and 84% of internet using teenagers. This study compares several factors relating to the two sectors of the online social networking industry, which are niche and generic websites. The analysis of these factors is used to conduct a five forces analysis on the industry. The analysis attempts to determine the competitive environment, the current state of the industry and where it might be heading. It was found that users of niche networks showed much higher levels of loyalty meaning switching costs for niche users were higher than for generic users. Niche users also showed much higher levels of engagement than generic users, which potentially will generate higher levels of profits as social networking grows. The five forces analysis concluded that the industry is an attractive one to enter if the entrant pursues a niche strategy, can cope with strong supplier forces, and can effectively build a large as well as highly engaged member base, thus generating very high traffic and profits.

  • Thumbnail for The effect of money announcements on interest rate expectations
    The effect of money announcements on interest rate expectations by Polk, Jena

    The era of monetary targeting ignited research into the area of interest rate response to money supply announcements. During the 1980s and 1990s, research focused in this area; however, there is been a lack of updated research. This study examines the updated response of interest rates to unanticipated changes in Ml money supply announcements for the sample period 1985 to 2005. The crucial ideas behind this hypothesis include money demand, money supply, expectations, and the role the Federal Reserve plays in the interaction of the three. Data was taken from the Federal Reserves statistical and historical data release for weekly M1 money supply measures and for daily interest rates of treasury securities. The results revealed an inability of the presented model to capture the relationship between money supply announcements and interest rates; leading to the conclusion of a mis-specified model.

  • Thumbnail for Including cash-flow risk in stock return analysis
    Including cash-flow risk in stock return analysis by West, Janet

    Despite their prominent place in financial theory and practice, the Capital Asset Pricing Model and beta have failed test after test to explain stock returns. Research by John Y. Campbell and Tuomo Vuolteenaho in "Bad Beta, Good Beta" cite the misspecification of beta as the reason for this failure. They measure beta as the sum of two components: a more influential "cash-flow" beta and a secondary "discount-rate" beta. This thesis creates a ratio between the overall beta of a stock and the cash-flow beta and uses an ordinary least squares regression model to determine its significance in interpreting overall returns to a stock. It hypothesizes that this ratio will better explain returns than overall beta alone, offering improvements for both investors and financial managers alike.

  • Thumbnail for China's dependency on net exports and its current efforts to mature its economy
    China's dependency on net exports and its current efforts to mature its economy by Quon, Christopher M

    This study provides a theoretical analysis and empirical investigation of China's reliance on net exports to grow its gross domestic product (GDP), and current efforts to shift towards a more private domestic consumption driven economy. Using data from 1975 to present and analyzing numerous past research done on similar topics regarding China's GDP expenditures and net export driven developing countries, suggestions supporting private domestic consumption as the most efficient GDP expenditure variable to sustaining long term growth are made.

  • Thumbnail for Protectionism and imperialism 1872-1914
    Protectionism and imperialism 1872-1914 by Rogowski, Scott

    The purpose of this study was to find out what effect tariff rates had on the territorial growth of late 19th century European, American, and Japanese empires. Many, if not most, historical studies of late 19th to early 20th century imperialism have explained it as a cultural phenomenon. Others have hypothesized that the territorial growth owes some explanation to protectionism. This study found that, given a three year lag, tariff rates can explain a little more than 50% of the aggregate territorial growth rate with diminished results when observing country-by-country.

  • Thumbnail for Determinants of public health : the role of innovative capacity in developing countries
    Determinants of public health : the role of innovative capacity in developing countries by Brody, Alex I

    In 2008, the World Health Organization's Intergovernmental Working Group (IGWG) released a global strategy and plan of action for boosting R&D of medicines for neglected diseases predominantly found in developing countries. Among other recommendations, the report advocates and prioritizes the promotion of local R&D capacity in developing countries as a solution to the absence of pharmaceutical drug innovation. In response to the primary assumption underlying the IGWG proposal, that innovation is a positive determinant of public health, the purpose of this study is to investigate the socioeconomic determinants of public health in developing countries as well as introduce innovative capacity as a potential factor influencing the level of health. This study will test whether public health is a function of innovative capacity using a cross-country regression that incorporates known determinants of public health. Fifty-nine developing countries are included in the sample, two different measures of public health are used, and nine independent variables are tested. A total of four regression models are used to explain the relationships between the variables. Innovative capacity is quantified in two different ways in order to increase the accuracy of the measure. Ultimately, the results of the study show that democracy, number of physicians, sanitation, infrastructure, and one of the measures of innovative capacity are statistically significant determinants of public health in developing countries. The conclusions of this study provides perspective on the IGWG proposal and enriches the discussion about what socioeconomic factors are most important to develop in order to achieve increased public health in developing countries.

  • Thumbnail for Eating green : valuing the environmental impacts of dietary choices
    Eating green : valuing the environmental impacts of dietary choices by Shephard, Courtney Marin

    Anthropocentric action is the dominant force behind accelerating environmental deterioration and climate change well above historical levels. Personal consumption habits are a significant contributor to rapid environmental devastation. The average diet of developed nations emphasizes animal protein consumption, particularly meat products from cattle, pigs, and chicken, as well as milk and eggs. The industrialized and highly concentrated primary crop and livestock production processes in the United States emit a large percentage of greenhouse gases, contribute to over-exploitation of increasingly scarce water resources, and erode soil. Environmental externalities, such as these, are not currently accounted in consumer prices for animal products. The effects of this market failure are multiplying as developing nations industrialize and begin to adopt the consumption habits of the developed nations. This thesis examines the impact of livestock production in the United States, beginning with crop production and processing for feed, and ending with slaughter and processing. The greenhouse gas emissions, water use, and soil erosion costs are identified, incorporated into current market prices in the form of a demand-side Pigouvian tax, and compared to current market prices. By assessing three significant environmental externalities and determining a conservative estimate of the respective costs of these externalities, this research demonstrates both the failure of the neoclassical market structure to account for the true price of livestock production, and the impact that personal dietary choices make on the global environment.

  • Thumbnail for Labor market discrimination within the National Basketball Association
    Labor market discrimination within the National Basketball Association by Paddock, Charles Arthur

    The present study investigates the ideas of labor market discrimination within the National Basketball Association, specifically consumer discrimination through gate revenues collected at NBA games. Previous research has mainly focused on consumer-based discrimination on consumption of nationally televised games. These studies have shown a variety of results, but the majority imply that consumers discriminate against African-American players. Thus, teams with higher participation by white players enjoy increased revenues. This study will use similar techniques but will attempt to explain the determinants of gate revenues instead of television viewership. In order to accomplish this, an ordinary least squares (OLS) model will be employed, with a wide variety of explanatory variables in an attempt to best explain consumer's preferences when deciding to attend a professional basketball game. The current study has used a more recent data set than previous research. It is the goal of this study to determine if there is evidence of consumer discrimination in the unique labor market of the National Basketball Association.

  • Thumbnail for Does it pay to be mediocre : an analysis of NBA salary determinants
    Does it pay to be mediocre : an analysis of NBA salary determinants by Brodman, Nathaniel

    This study was inspired by the recent trend in the National Basketball Association (NBA) of teams signing seemingly mediocre players to abnormally large contracts. The purpose of this study was to identify if there were in fact other player characteristics that NBA teams looked for other than pure basketball ability when signing players. 284 NBA players and their salaries during the 2006-2007 were collected along with twenty other independent variables. Obviously players' salary was the single dependent variable. Data and analysis comprised a regression test to determine the relationship between these twenty independent variables and salaries. The regression test revealed a relationship between age and athleticism to salaries. A player's contract year approximate value to his team and scoring ability proved to have a strong relationship with salaries as well. Surprisingly, no player characteristic related to efficiency had any relationship to salaries.

  • Thumbnail for Determining consumers' willingness to pay for digital information goods
    Determining consumers' willingness to pay for digital information goods by Kreczko, Nicholas S

    A key element of any business is determining the profit maximizing price of a good. Yet each price level will exclude some consumers who find the equilibrium too high and refrain from entering the market. If a similar product could be offered at a lower price it may lure the abstaining customers to consume, thereby increasing profits. For an industry that is flustering like the music industry, it is crucial new sales methods are found to continue growth and expansion. This paper evaluates an MP3 bundle as a modified product to attract new customers and encourage current customer to purchase more songs. Survey response data is used to determine a profit maximizing price at which to offer the modified digital song.

  • Thumbnail for Does losing matter? : an analysis of NBA franchise revenues
    Does losing matter? : an analysis of NBA franchise revenues by Jacobs, Lance Nicholas

    The National Basketball Association (NBA) is one of the four largest professional sports organizations in the United States. There are currently 23 teams in the NBA that gathered over $100 million in revenue during the 2007-08 season alone. This study examines the components of total NBA franchise revenues and investigates the effect that multiple losing seasons has on total revenue performance. A fixed-effects regression analysis is used to examine the effect of multiple losing seasons on total NBA franchise revenue. All the statistics and data observed in this study are from the 10 year period of 1999 to 2008. The findings in this study provide valuable information to NBA teams as to whether losing consecutive seasons affects total revenue performance.

  • Thumbnail for Eco-tourism in developing countries
    Eco-tourism in developing countries by Donnellan, Doug

    Tourism is the number one industry in the world. In developing countries there is inherent exploitation of environments, cultures and economies through the tourism industry. Although shifting to a conventional and unsustainable tourism-based economy will often help develop a country, the negative externalities outweigh the economic gain. As the world is becoming ever-more aware of the need for sustainability, ecotourism is leading the way as the most sustainable travel choice. It is up to the tourist, the host, and world organizations like the International Ecotourism Society (TIES) to transform the travel industry and turn ecotourism into the main form of tourism.

  • Thumbnail for The role of mentorship in entrepreneurial ventures
    The role of mentorship in entrepreneurial ventures by Reddy, Daniel

    This thesis explores the role of mentorship in entrepreneurial ventures. With staggering failure rates of entrepreneurial firms, the study of the determinants of success and failure of entrepreneurs is abundant. Among the key determinants of success are the factors comprising the human capital of entrepreneurs. Using models and theories based on corporate mentorship, this thesis bridges the gap between the study of entrepreneurial human capital and mentorship. Relying on seventeen interviews with a variety of entrepreneurs from around the country, this thesis identifies the significance placed on mentorship, reveals the models these relationships can take, and identifies the primary benefits of mentorship among entrepreneurs.

  • Thumbnail for Determinants of NFL franchise revenue generation
    Determinants of NFL franchise revenue generation by Vlassopoulos, Andreas

    This study attempts to explain the determinants of NFL franchise revenue generation. Seven variables will be examined and tested in order to determine which of those variables have the most significant effect on revenue. Data were collected from the 2000 through 2005 regular seasons. Regression analyses were used to analyze the data. The results of this study were that ticket price, attendance, and television deals all have a large positive effect on NFL franchise revenue generation.

  • Thumbnail for Microeconometric determinants of poverty movement
    Microeconometric determinants of poverty movement by Polk, Stephen William

    This paper analyzes a large data base containing over 18,000 women micro finance clients of the Negros Women for Tomorrow Foundation (NWTF). The data base contains a powerful new poverty impact assessment tool - the Progress Out of Poverty (PPl) Scorecard. The focus of the data analysis performed in this paper was the observable characteristics of actual borrowers and how those factors influence changes in that client's PPI Scorecard Poverty Score. The conclusion of this paper is that micro finance is working in the fight against poverty in the Philippines (average change in poverty score for the population is 28.51 %) but that a small subset of the population sees dramatically greater results. Specifically, clients that receive larger loans from a successful lending branch and employ their loans in non-agriculture/non-fishing industries see on average much greater gains then the rest of the population. Results of the data analysis suggest that the NWTF employs a suboptimal lending strategy. Sixty-six borrowers received abnormally large loans; average loans size for this subset of the population is $63,780 Filipino pesos. On average, these borrowers saw a 55.86% change in pscore. Regression results upon this population yield insignificant results for initial poverty score and years as a client of the NWTF. Loan size among this population has a positive coefficient similar in size to the larger population regression results. The other 17,937 clients of the NWTF received on average a loan $10,205 pesos and saw a 25.63% change in pscore (both sig. at [alpha] =.0I level). Policy suggestions are given in the concluding chapter.

  • Thumbnail for Do stock market investors value environmentally friendly companies? : Should they?
    Do stock market investors value environmentally friendly companies? : Should they? by French, Ryan

    The exact motivations for a 'green' and/or stakeholder approach to business are often unclear, though many view these approaches as beneficial to business over the long-term. This study specifically examines the incentives that stock market investors provide for companies to adopt an environmental program or environmentally friendly practices within their business. It also addresses the possible motivations that those companies might give investors in return. Voluntary company participants of the Environmental Protection Agency's 33/50 Program are used in econometric regressions that analyze both stock price and earnings per share changes before and after the program was began, from 1987 to 2007. After controlling for firm-specific and market variables, the stock price data concludes that investors do value the 33/50 program over the long-run. To address the efficient markets hypothesis, a time period analysis is performed. It does not find significant over- or underreaction evidence, but instead shows greater overall price increases over time with lower predictability. Whether or not the investors should have valued the 33/50 program, as would be indicated by long-run earnings growth, is largely inconclusive.

  • Thumbnail for Designing slum improvements : solving the international housing crisis through appropriate architecture
    Designing slum improvements : solving the international housing crisis through appropriate architecture by Desmarais, Francesca

    The 21rst century will be marked by an ever increasing urban world. Projections predict this trend to be largest for developing nations in which formal housing markets are inefficient at meeting the increasing demand for urban housing. This unmet housing demand will continue to exacerbate the housing crisis and necessitate sustainable solutions. Past policies of slum clearance, modernist apartment projects, housing provision, self-help, sites and services, and in-situ upgrading have not been effective at solving the crisis. This thesis considers the central role that architectural elements plays in slum housing communities. Considering architectural elements in addition to the conventional elements of financing mechanisms and land tenure augments an understanding of what a successful housing project is. Analyzing six successful international slum housing projects for both conventional and architectural elements, this thesis highlights the importance of vernacular architecture as a determinant of a successful project. Appropriate, vernacular architecture will best serve the beneficiary community's built environment needs and lead to sustainable housing solutions. Central in this process is the inclusion of slum communities in the design process of housing projects.

  • Thumbnail for Valuing healthcare companies : an empirical study
    Valuing healthcare companies : an empirical study by Eriks, Kyle

    This study analyzes the market, cost, and income valuation methods used in the healthcare industry. There are problems with the current valuation methods, especially the valuation of health care assets used in the cost approach, the exclusion of demographics, which would aid in the market valuation approach, and the difficulty of projecting revenues when smaller companies merge with larger public healthcare organizations in the income approach. Two hundred and thirty-five individual hospitals in the states of Florida and Colorado along with 14 public hospital corporations spanning the country were examined to produce the results of the study. The results of the regression analysis show that demographics play a large role in a hospital's potential earnings base. This study provides information that will help analysts develop a more complete and accurate valuation of healthcare companies.

  • Thumbnail for An econometric comparison of profit margins of independent hospitals and system hospitals
    An econometric comparison of profit margins of independent hospitals and system hospitals by Beadle-Ryby, Benjamin J

    With the growing number of uninsured Americans, the aging baby-boomer population, and the increasing life expectancies, containing costs in order to still generate positive margins in hospitals is becoming exceedingly important. One financial and organizational trend for hospitals has been to join ranks with other hospitals to create hospital systems. This study tests the proposition that hospitals that are members of a hospital system are more likely to experience positive margins than independent hospitals. Based on the cross-sectional analysis of Colorado and Florida hospitals from 2001 and 2002, the study finds that hospitals from larger hospital systems generally achieve higher margin levels, giving financial incentive for hospitals to integrate themselves into large systems.

  • Thumbnail for Determinants of used car resale value
    Determinants of used car resale value by Richardson, Michael S

    Hybrid vehicles have recently emerged as a growing market segment in the automobile industry. The value these vehicles hold over time has important implications for consumers. Vehicles that maintain their value better over time are likely to be in higher demand, and thus auto-makers are keen on producing more and more of these vehicles in the next few years. Using a multiple variable regression analysis, this thesis analyzes the major determinants of resale value in used cars. Current market values of used cars compared with their original prices are used as data. This study predicts that hybrid vehicles maintain their value better than traditional vehicles due to environmental perceptions as well as fuel efficiency ratings.

  • Thumbnail for Carbon emissions and company performance
    Carbon emissions and company performance by Scheuer, Michael William

    As the world enters a low carbon economy, companies must begin recognizing carbon emissions as a risk to doing business. This paper develops several regression models that test the effects of carbon emissions on company performance, whether or not carbon-intensive industries have been hurt, and the ability of the carbon to revenue ratio to capture a firm's risk exposure from carbon emissions. Carbon emissions data comes from the Carbon Disclosure Project and company performance data comes from Mergent Online. The paper concludes that carbon emissions are a liability to company performance, but carbon intensive industries have not been adversely affected. The carbon to revenue ratio does have a negative impact on company performance and may be used by companies as a measure of carbon efficiency.

  • Thumbnail for Willingness to pay for an elk license in Colorado : a contingent valuation examination
    Willingness to pay for an elk license in Colorado : a contingent valuation examination by Yates, Zachary H

    Hunting licenses do not represent the true value of the sport for hunters. This study examines the monetary value hunters, resident and non-resident, place on elk hunting in Colorado and which factors affect their valuation. The contingent valuation method is used to determine this information through a survey that was posted on several internet hunting forums. A hypothetical fee increase in hunting licenses from an improvement in elk habitat is used in the survey. To elicit a response, this study uses a two part question for willingness to pay, which is different from previous studies. First, intervals are presented and then the respondent answers an open-ended question. The data obtained from the survey is analyzed using the Tobit regression method. Separate regression equations are used for resident and non-resident hunters. The study finds that Colorado resident and non-resident hunters have differing views on the amount of license fee increase they would accept and base their decision on different factors.

  • Thumbnail for Attendance in the National Hockey League after the lockout
    Attendance in the National Hockey League after the lockout by Bannerman, Alexa

    For many years the National Hockey League was struggling to bring fans to their games. Due to such low attendance and salary caps, the National Hockey League decided to have a lockout in 2004-2005 which was the first ever season ending lockout in any sport. Since the lockout, attendance in the NHL slowly started to increase. This thesis looks at what factors affect attendance in the NHL since the lockout. Attendance was low before the lockout, but after the lockout attendance started to increase more and more every year. This thesis tests for what the NHL is doing right since the lockout so that they can continue to increase their attendance ratings even more. The research was taken from NHL.com, Versus. com, and ESPN.com. Data was found for all thirty NHL teams. A regression was used to test the data with the dependent variable being attendance. The independent variables are; goals scored, total points, winning percent, competitive balance, location, all-stars, games played, play-offs, weekend games, minor penalty minutes, and major penalty minutes. The regression found that four variables were significant in affecting attendance. These four variables were goals scored, location, minor penalty minutes, and major penalty minutes. This thesis proves that there are other factors besides game factors that affect attendance; however, the four game factors that affect attendance go along with the new rule changes that the NHL created after the lockout proving that the NHL is doing some of the right things to increase attendance in the NHL.

  • Thumbnail for Socioeconomic determinants of basic and advanced knowledge of HIV/AIDS in India
    Socioeconomic determinants of basic and advanced knowledge of HIV/AIDS in India by Adkins, Kurt

    With over two million people living with HIV/AIDS in India and no current widely available cure; India is at an important stage in its fight against the AIDS epidemic. The most effective and efficient method to slow the spread of AIDS is to target the people most likely to become infected with the disease via AIDS prevention campaigns. Using data from the National Family and Health Surveys (NFHS-3), this paper analyzes the socioeconomic correlates of wealth and education; of basic and advanced AIDS knowledge between a group of high AIDS prevalent states and a group of low AIDS prevalent states in India. Results from probit analysis present that there is concern for basic and advanced knowledge among lower educated and poorer individuals. The results also suggest that there are significant differences of basic and advanced knowledge between high and low AIDS prevalent states. AIDS prevention policy recommendations are to increase AIDS awareness by targeting lower educated and poor individuals at the state level.