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Potential Weather Data Anomolies Within The Usda's Pasture Rangeland And Forage Insurance Program, Chad Steven Van Orden 2019 Utah State University

Potential Weather Data Anomolies Within The Usda's Pasture Rangeland And Forage Insurance Program, Chad Steven Van Orden

All Graduate Plan B and other Reports

The purpose of this study is to delve into the functionality of the PRF insurance program. The primary goal is to uncover any underlying anomalies which may inadvertently skew data within the program. Because the USDA uses NOAA’s weather stations regardless of location or timing of activation, it is consequential that the collected precipitation data may be inconsistent across both time and space. This phenomenon could have substantial and significant effects on the RMA’s PRF insurance program, resulting in producers being compensated inaccurately for their insurance claims.


A Tale Of Two Markets: Regulation And Innovation In Post-Crisis Mortgage And Structured Finance Markets, William W. Bratton, Adam J. Levitin 2019 University of Pennsylvania Law School

A Tale Of Two Markets: Regulation And Innovation In Post-Crisis Mortgage And Structured Finance Markets, William W. Bratton, Adam J. Levitin

Faculty Scholarship at Penn Law

This Article takes the occasion of the tenth anniversary of the financial crisis to review recent developments in the structured products market, connecting the emergent pattern to post-crisis regulation.

The Article tells a tale of two markets. The financial crisis stemmed from excessive risk-taking and shabby practice in the subprime home mortgage market, a market that owed its existence to the private-label, originate to securitize model. But the pre-crisis boom in private label subprime mortgage-backed securities could never have happened absent back up financing from an array of structured products and vehicles created in the capital markets—the CDOs that ...


Do What I Say, Not What I Do? Personal Finance Experiences Of Purdue Alumni And Advice For Current Undergraduate Students, Andi Long 2019 Purdue University

Do What I Say, Not What I Do? Personal Finance Experiences Of Purdue Alumni And Advice For Current Undergraduate Students, Andi Long

The Journal of Purdue Undergraduate Research

No abstract provided.


Renewable Energy Access And Resilience In Urban Developing Areas: Distributed Solar Networks And Peer-To-Peer Energy Trading In Puerto Rico, Pascale Bronder 2019 Yale University

Renewable Energy Access And Resilience In Urban Developing Areas: Distributed Solar Networks And Peer-To-Peer Energy Trading In Puerto Rico, Pascale Bronder

Harvey M. Applebaum ’59 Award

This senior essay under the Environmental Studies major at Yale University explores the environmental and social benefits of applying innovative technology to the energy sector. Three types of energy networks are analyzed, focusing on the use of distributed energy and peer to peer energy trading on a blockchain platform. The benefits of distributed renewable energy networks can most strongly be applied to locations in need of more reliable, resilient, and cost-effective electricity. Puerto Rico is a case study. Methods include analysis of U.S. Energy Information Administration and Census Bureau data as well as personal interviews with Puerto Rican energy ...


The Martingale Approach To Financial Mathematics, Jordan M. Rowley 2019 California Polytechnic State University, San Luis Obispo

The Martingale Approach To Financial Mathematics, Jordan M. Rowley

Master's Theses and Project Reports

In this thesis, we will develop the fundamental properties of financial mathematics, with a focus on establishing meaningful connections between martingale theory, stochastic calculus, and measure-theoretic probability. We first consider a simple binomial model in discrete time, and assume the impossibility of earning a riskless profit, known as arbitrage. Under this no-arbitrage assumption alone, we stumble upon a strange new probability measure Q, according to which every risky asset is expected to grow as though it were a bond. As it turns out, this measure Q also gives the arbitrage-free pricing formula for every asset on our market. In considering ...


Financial Red Flags: Empirical Mapping Of Firm Political Preferences By Sector In Mexico, Ian Connors 2019 University of San Francisco

Financial Red Flags: Empirical Mapping Of Firm Political Preferences By Sector In Mexico, Ian Connors

Master's Theses

Can the stock market be used to determine the political preferences of individual economic sectors? This paper explores the conceptual relationship between electoral outcomes and financial markets in Mexico. Specifically, it analyzes how financial markets predict the expected effects of a given political platform on the performance of firms within specific sectors. To do this, the study used event-study methodology to calculate abnormal returns on stock prices across the nine sectors listed on the Bolsa Mexicana de Valores stock exchange following the historic election of leftist candidate Andrés Manuel López Obrador (AMLO), On July 1, 2018. However, despite the uncertainty ...


The Quality Of Xbrl Structured Financial Statements: An Empirical Examination Of Custom Tags, Aidana Razhap kyzy 2019 CUNY Hunter College

The Quality Of Xbrl Structured Financial Statements: An Empirical Examination Of Custom Tags, Aidana Razhap Kyzy

School of Arts & Sciences Theses

In 2009 the US Securities and Exchange Commission (SEC) adopted the eXtensible Business Reporting Language (XBRL) system to improve the process by which financial statements can be used. Interactive financial data filed with the SEC using XBRL provides easily readable and comparable financial data, thereby improving transparency and efficiency in the corporate market. SEC rules permit companies to use custom tags in their financial reports in cases when an appropriate element cannot be found in the Financial Accounting Standards Board (FASB) standard XBRL taxonomy. The inordinate use of custom tags may result in a reduction of financial report quality by ...


Utilizing Blockchain Trade Finance To Promote Financial Inclusion, Bryce Ciccaglione 2019 University of Connecticut

Utilizing Blockchain Trade Finance To Promote Financial Inclusion, Bryce Ciccaglione

Honors Scholar Theses

This paper examines the use of blockchain, or distributed ledger, technology for the potential supplantation of the antiquated process of international trade financing. Using the technology for this purpose has the potential to narrow the enormous gap in unmet demand for trade finance experienced by small-and medium-sized enterprises in the developing world. The current process of trade finance is still paper-based and relies heavily on manual labor. After the 2008 Global Financial Crisis, banks became restrictive in their lending, especially to small-and medium-sized enterprises in developing countries, leading to the aforementioned trade finance gap. Blockchain technology could narrow this gap ...


Systematic Risk-Factors Among U.S. Stock Market Sectors, Maksim V. Papenkov 2019 University at Albany, State University of New York

Systematic Risk-Factors Among U.S. Stock Market Sectors, Maksim V. Papenkov

Economics

The Capital Asset Pricing Model (CAPM) and its extensions are a family of empirical asset pricing models which partition risk as either "systematic" (market-wide) or "idiosyncratic" (stock-specific). Examples of systematic risk-factors include the market return, company size, and company value. Within the framework of the CAPM-family of models, it is assumed that the effects of these systematic risk-factors are homogenous among sectors. This paper develops an extension to the CAPM relaxing this assumption, by directly comparing these systematic risk-factors at the sector-level. Utilizing CRSP and Compustat data, systematic risk-factor premiums are estimated for each sector, which demonstrates heterogeneity, with respect ...


Does Family Income Determine A Children Future Educational Attainment Level?, Diaisha T. Richards 2019 State University of New York College at Buffalo - Buffalo State College

Does Family Income Determine A Children Future Educational Attainment Level?, Diaisha T. Richards

Applied Economics Theses

Family income and education have been a major concern in a variety of researches, and as a topic in society. These two components are a major concern because they are known to be key elements in determining future success for an individual. Various studies investigated the significance, correlations and impacts these two factors have on one another. It is common for the amount of family income obtained to determine how much education one will receive in the future. This study focuses on testing the hypothesis that family income determines how much education a child will receive in the future. By ...


Economic And Demographic Determinants Of The Consumption, Saving And Borrowing Behaviors Of Households, Micaela Joseph 2019 State University of New York College at Buffalo - Buffalo State College

Economic And Demographic Determinants Of The Consumption, Saving And Borrowing Behaviors Of Households, Micaela Joseph

Applied Economics Theses

The personal savings rate is an unsettling subject, because every economist has distinctive opinions on the determinants of consumption, saving and borrowing behaviors of households. For instance, many individuals assume that there is a positive relationship between real disposable income and the personal savings rate. In other words, saving amongst households have increased with the growth of household wealth. On the other hand, some individuals deem that there is an inverse relationship between both variables, so much that this topic has always demanded further research to be completed. Because of my awareness and experience relating to this topic, I have ...


Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck 2019 State University of New York College at Buffalo - Buffalo State College

Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck

Applied Economics Theses

Toward a More Universal Currency:

The Impact of the Clearing Mechanism on Developing Economies

As part of a broader plan to reform the system of international finance, experts have indicated the need to modify the system of international money. They point to problems such as the difficulties faced by developing countries in obtaining hard currency needed for imports, or the flows of hot money which make the financing of long-term development projects difficult. Some have called for a form of universal currency, used only in international trade. Developing nations especially need access to a clearing mechanism which would eliminate the ...


Essays On Networks And Corporate Finance, Tatiana Salikhova 2019 University of Arkansas, Fayetteville

Essays On Networks And Corporate Finance, Tatiana Salikhova

Theses and Dissertations

In my dissertation I explore how personal networks affect firms’ financial decisions. In the first essay, I study how social connections among divisional managers affect the capital allocation to divisions in diversified conglomerates. In contrast to the previous studies, I focus on the horizontal connections or connections formed among managers of the same level of corporate hierarchy. I show that connections among divisional managers lead to higher sensitivity of segment capital spending to segment’s growth opportunities, higher firm-level allocation efficiency and higher firm value. Additionally, firms tend to strategically assign better-connected managers to these segments, and connections help to ...


Model-Free Implied Volatility Under Jump-Diffusion Models, Seungmook Choi, Hongtao Yang 2019 University of Nevada, Las Vegas

Model-Free Implied Volatility Under Jump-Diffusion Models, Seungmook Choi, Hongtao Yang

Finance Faculty Publications

The model-free implied volatility (MFIVol) is intended to measure the variability of underlying asset price on which options are written. Analytically, however, it does not measure exactly the variability under jump diffusion. Our extensive empirical study suggests that the approximation error can be as much as about 3%--5% although most samples over the data period exhibit less than 1% errors. Even with the non-negligible errors, the MFIVol may be still considered a valid volatility measure from the perspective of risk-neutral return density, in the sense that it is bounded by the two variability measures as well as reflecting the ...


The Impact Of Immigration On Financial Markets, Jesse Baker 2019 Utah State University

The Impact Of Immigration On Financial Markets, Jesse Baker

All Graduate Plan B and other Reports

This paper studies the impact of immigration policy on financial markets. I estimate the cumulative abnormal returns surrounding two events the effective start date of the Immigration Act of 1990 and the implementation of the Temporary Protected Status (TPS) of Nicaragua and Honduras in 1999. Focusing on agriculture, construction, and manufacturing firms, I find that the CARs surrounding the events are indeed positive and significant, suggesting that the market anticipated growth among industries that are likely to hire Central American immigrants.


Exploring Financial Literacy Of Independent Musicians In The Gig Economy, Benjamin Milam 2019 The University of Southern Mississippi

Exploring Financial Literacy Of Independent Musicians In The Gig Economy, Benjamin Milam

Honors Theses

The purpose of this study is to gain insight into the elements of the career of independent musicians. Specifically, how they overcome or fail to overcome the challenges of a gig economy through knowledge and ability to properly manage scarce financial resources. The research questions posed are as follows: (a) Does higher financial literacy allow independent musicians to sustain and improve their career in the gig economy? (b) How do independent musicians use financial literacy to sustain their career? (c) How does industry experience affect the ability of independent artists to effectively allocate financial resources? To answer these research questions ...


Crypto Mania: Determining The Drivers And Philosophical Implications Of Financial Bubbles To Inform Speculation, Trenton McCarthy 2019 Lake Forest College

Crypto Mania: Determining The Drivers And Philosophical Implications Of Financial Bubbles To Inform Speculation, Trenton Mccarthy

Senior Theses

The past few years have marked the rapid emergence of cryptocurrency, a new commodity that has taken the investor community by storm. Like the South Sea Bubble and Dot-Com Bubble, cryptocurrencies temporarily generated astronomical returns. Using funding data as well as controlling for Bitcoin difficulty and confirmation times, NASDAQ Index returns, gold returns, bullish investor sentiment, and Bitcoin tweet counts, it can be concluded that cryptocurrency in fact experienced two separate bubbles between 2012 and 2018. Furthermore, by understanding the drivers to the Crypto Bubbles and other historical bubbles alike, I offer analysis regarding the potential for blockchain technology – the ...


Valuation And Risk Management Of Some Longevity And P&C Insurance Products, Yixing Zhao 2019 The University of Western Ontario

Valuation And Risk Management Of Some Longevity And P&C Insurance Products, Yixing Zhao

Electronic Thesis and Dissertation Repository

Numerous insurance products linked to risky assets have emerged rapidly in the last couple of decades. These products have option-embedded features and typically involve at least two risk factors, namely interest and mortality risks. The need for models to capture risk factors' behaviours accurately is enormous and critical for insurance companies. The primary objective of this thesis is to develop pricing and hedging frameworks for option-embedded longevity products addressing correlated risk factors. Various methods are employed to facilitate the computation of prices and risk measures of longevity products including those with maturity benefits. Furthermore, in order to be prepared for ...


Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley 2019 University of Lynchburg

Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley

Student Scholar Showcase

Most research on factors and causes of crime, whether property or violent crime, focuses on individuals’ behavior or their surrounding environment. In this research, I explore the idea of socioeconomic factors correlated to property crime. I conducted a retrospective design to fully explore United States Census data and crime data gathered by the Bureau of Justice Statistics to discover statistically significant variables connected to property crime. Significant findings were shown by average people per house and retail sales per capita in all counties. Additional significant findings were percent employment change and percent with high school degree or higher in low ...


The Evolution Of State Higher Education Public Funding Policy, Angela Rogers 2019 University of South Carolina

The Evolution Of State Higher Education Public Funding Policy, Angela Rogers

Senior Theses

In the past several decades, public colleges and universities have increasingly struggled to fund all of the programs demanded of them as states slowly drain funding from their coffers. This discussion will examine different policies and frameworks that have been used by states to determine funding for their public institutions. Different factors that will be considered include political relationships, governance structures, and accountability models. The political trend of “free college” will also be considered. Then, the discussion will narrow to South Carolina funding policy, how it has changed over the years, and what the current challenges are. A policy proposal ...


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