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Now showing 1 - 10 of 143
  • Publication
    Optimizing the Allocation of Funds of an NFL Team under the Salary Cap, while Considering Player Talent
    (2016-01-01) Mulholland, Jason
    Every NFL team faces the complex decision of choosing how to allocate salaries to each position while being limited by the salary cap. In this paper, we use regression strategies to focus on identifying what positions are worth greater investment under the assumption that players are paid in an efficient market. Using a combination of many univariate regression models, we identify that the positions at which it is worth investing in elite players are quarterback, guard, defensive tackle, and free safety. Additionally, we consider the possibility that markets are not actually efficient through separate regressions and detect that the optimal way to take advantage of inefficiency is through skilled drafting to find players who can provide significant win contributions early in their careers (since they are being paid the relatively low salaries of rookie contracts).
  • Publication
    The Visible Hand In Housing Market: Singapore’s Housing Model And Its Implications On Hong Kong
    (2020-05-01) Qiu, Jennifer Zijun
    Some scholars believe that there exists a distinctive East Asian model of integrating social welfare and economic development, as witnessed in the four “Asian Tigers”, that sets itself apart from the “three worlds of capitalism” (liberal, conservative, social democratic) suggested by Esping-Anderson. Specifically, Singapore and Hong Kong, despite being bastions of laissez-faire policies, have some of the world’s largest government-backed public housing markets, with 81% and 46% of residents residing in public housing respectively. Yet, Singapore is seen as a model for housing policymaking while Hong Kong remains the most unaffordable housing market in the world for 9 consecutive years. This paper discusses the housing outcomes of these two cities and their seemingly similar yet diverging housing policies, exploring what implications the Singapore model has on East Asian cities such as Hong Kong.
  • Publication
    Using Government Data To Predict The Price And Returns Of Timber Real Estate Investment TrustsUsing Government Data To Predict The Price And Returns Of Timber Real Estate Investment Trusts
    (2020-05-01) Portmann, Johann Marcos
    Timber REITs are an understudied asset class with many direct drivers of value not seen in other REITs. With only a few Timber REITs listed on the NYSE, the idiosyncrasies between each stock means that it is difficult to draw conclusions at a non-stock-specific levels. Unlike other types of REITs, it may be feasible to predict value-metrics for Timber REITs based on readily available historical government data. This data can predict the behavior of the REITs’ stock movements without accounting for market conditions but is not useful when using an excess return model based on a market-benchmark approach. However, the selection of an appropriate benchmark for Timber REITs may not be clear-cut.
  • Publication
    An Investigation of Private Equity Buyout Performance During the 2007-2009 Financial Crisis
    (2018-01-01) Jordaan, Frederick W. R.
    This paper investigates the net-of-fees performance of North American and European Private Equity Buyout Funds (vintages 2002 – 2007) that invested in the 2007-2009 financial crisis. To evaluate performance this study looks at both absolute return metrics such as Internal Rate of Return (IRR) and Total Value to Paid-In (TVPI) and the relative public market equivalent (PME) method conceived by Kaplan and Schoar (2005). This research builds on a 2015 Gianfrate and Loewenthal study by utilizing an updated March 31st, 2018 Preqin Private Equity Cash Flow database to gather date-specific fund-level cash flow data on 249 buyout funds as well as Bloomberg historical return data on ten public equity indices. The present study found a mean buyout IRR of 12% and a TVPI of 1.68, slightly lower than that observed in prior research. However, overall 2002-2007 buyout funds did substantially and consistently outperform their respective public market benchmarks with an average PME, calculated using relevant public benchmarks, of 1.11 for North American buyout funds and 1.10 for European buyout funds. The study also observed a significant downward PME trend on the vintage level between 2002 and 2007 as well as a positive relationship between fund size and performance.
  • Publication
    Emotion Regulation and Incivility: keep it civil even though it may not be honest
    (2019-05-01) Qu, Amy Shu Yi
    Emotions are an inescapable a part of our daily experiences and we spend much of our time regulating them either deliberately or subconsciously. While we understand what it means to regulate our emotions and the toll it can take, it remains unclear how another individual’s perceptions of our emotion regulation patterns may vary, especially when our behavior crosses the line into incivility. Building on theories of emotion regulation and incivility, this paper proposes that perceptions of emotion regulation can change based on displays of incivility, which occur when emotion regulation or lack thereof reach an extreme. In a study with a simulated online customer service interaction, this paper finds that (1) civility increases perceptions of trust, (2) angry uncivil behavior is viewed as the most honest but least moral, and (3) angry civil behavior is viewed as particularly benevolent. This research shows how while civility may increase trust, honest and authentic behavior may not always be viewed in a positive manner.
  • Publication
    Risk Premia in the Yield Curve
    (2019-05-01) Kumar, Vinayak
    I study the sources of risk premia associated with the level bond portfolio by utilizing an international panel of zero-coupon bond data. I replicate a portion of ‘Yield Curve Premia’ by Brooks et al. who utilize principal component analysis to represent the moments of the yield curve and assess the efficacy of asset pricing factors commonly used in equities in explaining variation in bond returns.. I extend the work done in Yield Curve Premia by employing the partial least squares regression procedure in place of principal component analysis. I find that the level, slope, and curvature result is incredibly robust, not only across countries but also across dimensionality reduction methods. To assess the out-of-sample forecasting power of the partial least squares factors, I construct a trading rule using a predictive regression model and find varying return premia across countries in the panel.
  • Publication
    Gender and the Receptivity of Individuals to Blind Self Feedback
    (2016-01-01) Deans, Penelope
    This research looks at the intersection of three fields: receptivity to feedback, the blind self and feedback, and the impact of gender on feedback. The author’s aim was to see how gender affects the ability of individuals to receive feedback about an aspect of themselves of which they are unaware. We had individuals simulate a situation in which they received feedback from someone they trust that they are racist, and complete a survey to gauge their receptivity to this feedback. Our findings confirmed that individuals are generally unreceptive to blind self feedback. Additionally, women were more receptive on average to blind self feedback than men, but the difference in receptivity was not statistically significant – this finding may be influenced by several key limitations. This study contributes to a very important field of research, because understanding one’s own blind spots is critical to an individual’s ability to grow.
  • Publication
    Identifying the Attributes of the Investment Banking Role that Undergraduates Underestimate when Choosing Their Career
    (2016-01-01) Markham, Louis
    This paper sets out to discover which attributes of the investment banking analyst role undergraduates underestimate when they choosing their career that leads to such high turnover. Through the use of semi-structured interviews and surveys, data is collected which is then utilized to compare attributes between undergraduates and those who are within one year of their investment banking jobs. Several important attributes are identified to be significantly worse than most undergraduates expect, as well as changing in importance. Such attributes include ‘satisfying social life’, ‘predictability of time off work,’ and ‘being around inspiring individuals.’
  • Publication
    Changing Visit Patterns In Philadelphia During The Coronavirus Pandemic
    (2020-05-01) Young, Kwynasia
    This paper addresses changing visit patterns in Philadelphia during the Coronavirus pandemic by examining various trends in visit patterns. The analysis uses aggregated cell-phone geolocation data to test for divergence in the number of visits made to Asian establishments relative to other establishments as well as differences in the changing frequency of visits from tracts with different incomes and racial majorities. The change in visits will be observed by comparing visits in weeks during 2020 to a reference week pre-COVID-19. Event study and differences in differences regressions are used to assess the statistical significance of these trends. Results from this study show that: 1) Changes in visit patterns to Asian establishments are not disproportionately affected by COVID-19; 2) Residents of high-income tracts do appear to reduce their visits by more than residents of other tracts after the local outbreak of COVID-19, but these differences are not statistically significant; 3) There is a statistically significant divergence in visit behavior: residents of Black and Hispanic majority tracts reduce their visit frequency by less than residents of White majority tracts.