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- Title
- MODELING FINANCIAL MARKETS USING CONCEPTS FROM MECHANICAL VIBRATIONS AND MASS-SPRING SYSTEMS.
- Creator
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Gandia, Michael, Das, Tuhin, University of Central Florida
- Abstract / Description
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This thesis describes a method of modeling financial markets by utilizing concepts from mechanical vibration. The models developed represent multi-degree of freedom, mass-spring systems. The economic principles that drive the design are supply and demand, which act as springs, and shareholders, which act as masses. The primary assumption of this research is that events cannot be predicted but the responses to those events can be. In other words, economic stimuli create responses to a stock's...
Show moreThis thesis describes a method of modeling financial markets by utilizing concepts from mechanical vibration. The models developed represent multi-degree of freedom, mass-spring systems. The economic principles that drive the design are supply and demand, which act as springs, and shareholders, which act as masses. The primary assumption of this research is that events cannot be predicted but the responses to those events can be. In other words, economic stimuli create responses to a stock's price that is predictable, repeatable and scientific. The approach to determining the behavior of various financial markets encompassed techniques such as Fast Fourier Transform and discretized wavelet analysis. The researched developed in three stages; first an appropriate model of causation in the stock market was established. Second, a model of steady state properties was determined. Third, experiments were conducted to determine the most effective model and to test its predictive capabilities on ten stocks. The experiments were evaluated based on the model's hypothetical return on investment. The results showed a positive gain on capital for nine out of the ten stocks and supported the claim that stocks behave in accordance to the natural laws of vibration. As scientific approaches to modeling the stock market are beginning to develop, engineering principles are proving to be the most relevant and reliable means of financial market prediction.
Show less - Date Issued
- 2014
- Identifier
- CFH0004657, ucf:45283
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH0004657
- Title
- Re-Thinking the Intentionality of Fraud: Constructing and Testing the Theory of Unintended Amoral Behavior to Explain Fraudulent Financial Reporting.
- Creator
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Dill, Andrew, Sutton, Steven, Arnold, Vicky, Schmitt, Donna, Schminke, Marshall, University of Central Florida
- Abstract / Description
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My three-paper dissertation is aimed at applying the concepts of bounded ethicality and ethical fading to accounting fraud. Typical of relatively new fields such as behavioral ethics, theoretical models are scarce (Tenbrunsel (&) Smith-Crowe, 2008). As such, the purpose of Study 1 is to unify disparate theories and ideas from psychology and behavioral ethics as a means of constructing a theory, the Theory of Unintended Amoral Behavior (TUAB), which includes the concepts of bounded ethicality...
Show moreMy three-paper dissertation is aimed at applying the concepts of bounded ethicality and ethical fading to accounting fraud. Typical of relatively new fields such as behavioral ethics, theoretical models are scarce (Tenbrunsel (&) Smith-Crowe, 2008). As such, the purpose of Study 1 is to unify disparate theories and ideas from psychology and behavioral ethics as a means of constructing a theory, the Theory of Unintended Amoral Behavior (TUAB), which includes the concepts of bounded ethicality and ethical fading. In addition, the pressure for management to meet earnings expectations is discussed through the lens of the TUAB as an example of how one may unknowingly misreport.Studies 2 and 3 apply the TUAB to investigate how certain contextual factors interact with egocentric biases to increase the likelihood of ethical fading. Specifically, Study 2 consists of an experiment exploring how inferior pay among managers interacts with egocentric perceptions of fairness and envy to affect the likelihood of one engaging in ethical fading and fraudulent behavior. Study 3 also utilizes an experimental methodology to examine how the pressure to meet earnings forecasts interacts with egocentric perceptions of fairness and negative affect to influence the probability of ethical fading and fraudulent acts.The results for Study 2 indicate that one who is paid at a lower rate is more likely to view this disparity as unfair, which leads to a greater feeling of envy. Although envy had no significant direct effect on ethical fading in the primary analyses, a supplemental analysis revealed that a person's risk preference might moderate this relationship. The primary findings of Study 2 suggest that individuals who experience a higher degree of ethical fading are more likely to commit fraud, and that ethical fading, along with perceived unfairness, seem to be significant psychological processes that explain how differences in pay may lead to fraud. The primary finding of Study 3 is that, like Study 2, fraud is more likely to occur as an individual experiences a higher degree of ethical fading. Furthermore, this study suggests that those who are closest to meeting an earnings target are the most likely to engage in fraudulent behavior. Finally, the results failed to find any support that one's egocentric perceptions of fairness and negative affect contribute towards his or her ethical behavior in a goal achievement setting. The primary contributions of this dissertation is that it unifies various theories and ideas from psychology and behavioral ethics to establish a testable theory (TUAB) that includes the concepts of bounded ethicality and ethical fading, serves as an initial test of TUAB, and provides evidence that unethical behavior is not necessarily the result of one consciously forsaking his or her ethics for some other desired goal (i.e., profit).
Show less - Date Issued
- 2016
- Identifier
- CFE0006097, ucf:51211
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0006097
- Title
- Valuation of Over-The-Counter (OTC) Derivatives with Collateralization.
- Creator
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Guerrero, Leon, Yong, Jiongmin, Li, Xin, Brennan, Joseph, University of Central Florida
- Abstract / Description
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Collateralization in over-the-counter (OTC) derivatives markets has grown rapidly overthe past decade, and even faster in the past few years, due to the impact of the recentfinancial crisis and the particularly important attention to the counterparty credit risk in derivatives contracts. The addition of collateralization to such contracts significantly reduces the counterparty credit risk and allows to offset liabilities in case of default.We study the problem of valuation of OTC derivatives...
Show moreCollateralization in over-the-counter (OTC) derivatives markets has grown rapidly overthe past decade, and even faster in the past few years, due to the impact of the recentfinancial crisis and the particularly important attention to the counterparty credit risk in derivatives contracts. The addition of collateralization to such contracts significantly reduces the counterparty credit risk and allows to offset liabilities in case of default.We study the problem of valuation of OTC derivatives with payoff in a single currencyand with single underlying asset for the cases of zero, partial, and perfect collateralization. We assume the derivative is traded between two default-free counterparties and analyze the impact of collateralization on the fair present value of the derivative. We establish a uniform generalized derivative pricing framework for the three cases of collateralization and show how different approaches to pricing turn out to be consistent. We then generalize the results to include multi-asset and cross-currency arguments, where the underlyingand the derivative are in some domestic currency, but the collateral is posted in a foreign currency. We show that the results for the single currency, multi-asset case are consistent with those obtained for the single currency, single asset case.
Show less - Date Issued
- 2013
- Identifier
- CFE0004855, ucf:49688
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0004855
- Title
- A GLOBAL STRATEGIC FINANCIAL ANALYSIS OF THE LUXURY RETAIL INDUSTRY.
- Creator
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LaVan, Lauren, Curcio, Richard, University of Central Florida
- Abstract / Description
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A global strategic financial analysis of the luxury retail industry was conducted. The research entailed comprehensive analyses and forecasts of the global economy, the luxury retail industry and four of the most prominent, multi-national luxury goods firms in the world. These companies included: Coach, Michael Kors, Tiffany & Co., and LVMH Moet Hennessy, whom market among the world's finest personal luxury goods from handbags, clothing and accessories to diamonds, jewelry, watches,...
Show moreA global strategic financial analysis of the luxury retail industry was conducted. The research entailed comprehensive analyses and forecasts of the global economy, the luxury retail industry and four of the most prominent, multi-national luxury goods firms in the world. These companies included: Coach, Michael Kors, Tiffany & Co., and LVMH Moet Hennessy, whom market among the world's finest personal luxury goods from handbags, clothing and accessories to diamonds, jewelry, watches, fragrances, cosmetics and wines. The macroeconomic analysis focused on factors pertinent to the luxury goods industry such as: (1) the lasting effects of the global financial crisis, our gradual emergence from the Great Recession and the impact these conditions have had on consumer spending and confidence; (2) the generational shift of consumers from the retiring baby boomers to the technologically savvy Generation Z and their unique demands for products as well as experiences; and (3) the growth and demand from emerging economies, especially China which is the globe's top luxury nationality accounting for 25% of all luxury purchases worldwide. Comprehensive financial ratio analyses, SWOT assessments, technical trends and forecasts of revenues, earnings and share prices for the four companies, resulted in recommendations to investors and advice to top management of the four firms. Luxury retail is a fascinating, recession resilient industry and it is expected to reach €1 trillion within the next 5 years. However, regardless of how successful firms in this industry have been in the past, to survive and continue to succeed, it is imperative that they remain flexible and adaptable in this ever-changing world.
Show less - Date Issued
- 2013
- Identifier
- CFH0004348, ucf:45005
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH0004348
- Title
- MODELING LOAN LOSSES: A MACROECONOMIC APPROACH.
- Creator
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Hughes, Jeremy, Smith, Stanley, University of Central Florida
- Abstract / Description
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A sound banking system is essential to a well-functioning economy. With the financial crisis beginning in 2007, a renewed interest in the safety of financial institutions has dominated both the political and financial landscape. Mounting loan losses in real estate lending led to the failing of over 460 banks from 2008 to 2012. This crisis is not unique; in fact, the Savings & Loan Crisis of the 1980's to early 1990's led to the closure of 700 savings institutions. Both instances created a...
Show moreA sound banking system is essential to a well-functioning economy. With the financial crisis beginning in 2007, a renewed interest in the safety of financial institutions has dominated both the political and financial landscape. Mounting loan losses in real estate lending led to the failing of over 460 banks from 2008 to 2012. This crisis is not unique; in fact, the Savings & Loan Crisis of the 1980's to early 1990's led to the closure of 700 savings institutions. Both instances created a panic in financial markets and heavy losses to deposit insurance funds. These losses are ultimately borne by taxpayers and prudently managed banks, especially if the insurance fund requires re-capitalization. The focus of this paper is on explaining the contributing factors to different categories of loan losses. Namely, total loan losses, residential real estate loan losses, commercial real estate loan losses, and commercial and industrial loan losses are examined. A multivariate regression approach is taken in this paper to explain the four rates of loan losses for the period of 2001 to 2012. Aggregate macroeconomic data from 2001 to 2012 is used to explain loan losses across categories. It was found that the delinquency rate of loans, the consumer financial obligations ratio, and the financial crisis were all significant factors in explaining loan losses.
Show less - Date Issued
- 2013
- Identifier
- CFH0004370, ucf:45001
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH0004370
- Title
- Nike(&)#191;s Corporate Social Advocacy (CSA) Practices as Related to Strategic Issues Management (SIM) and Threats to Organizational Legitimacy.
- Creator
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Heffron, Eve, Dodd, Melissa, Spence, Patric, Yu, Nan, University of Central Florida
- Abstract / Description
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This research examined how corporate social advocacy (CSA) and corporate social responsibility (CSR) efforts impacted perceptions of authenticity. Using an experimental survey, participants were randomly exposed to Nike's actions related to the Black Lives Matter (BLM) movement via mock-online news articles. Participants completed a survey that contained Likert-type scale items regarding attitudes (perceived corporate intent, perceived authenticity, brand trust, and brand credibility) and...
Show moreThis research examined how corporate social advocacy (CSA) and corporate social responsibility (CSR) efforts impacted perceptions of authenticity. Using an experimental survey, participants were randomly exposed to Nike's actions related to the Black Lives Matter (BLM) movement via mock-online news articles. Participants completed a survey that contained Likert-type scale items regarding attitudes (perceived corporate intent, perceived authenticity, brand trust, and brand credibility) and behavioral intentions (word of mouth intentions (WOM), and purchase intention (PI)). Results indicated that positive attitudes significantly increased when Nike implemented an action step after taking a public stance on a controversial social-political issue. Further, results revealed significant differences for positive WOM intentions and PI, given the experimental prompt. This study extends public relations scholarship through expanding our understanding of stakeholder perceptions of authenticity when companies engage in CSA and CSR practices. To earn legitimacy, companies must meet stakeholder expectations through successfully executing socially responsible actions. This study illustrates a need for future research on stakeholder perceptions of authenticity when various action steps are added to a company stance on divisive social-political issues.
Show less - Date Issued
- 2019
- Identifier
- CFE0007650, ucf:52461
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0007650
- Title
- AN INVESTIGATION OF THE ECONOMIC VIABILITY AND ETHICAL RAMIFICATIONS OF VIDEO SURVEILLANCE IN THE ICU.
- Creator
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Bagge, Laura, Heglund, Stephen, University of Central Florida
- Abstract / Description
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The purpose of this review of literature is to investigate the various roles of video surveillance (VS) in the hospital's intensive care unit (ICU) as well as its legal and ethical implications. Today, hospitals spend more money on the ICU than on any other unit. By 2030, the population of those 65 and over is expected to double. 80% of older adults have at least one chronic diseases (Centers for Disease Control and Prevention, 2013). As a consequence, the demand for ICU services will likely...
Show moreThe purpose of this review of literature is to investigate the various roles of video surveillance (VS) in the hospital's intensive care unit (ICU) as well as its legal and ethical implications. Today, hospitals spend more money on the ICU than on any other unit. By 2030, the population of those 65 and over is expected to double. 80% of older adults have at least one chronic diseases (Centers for Disease Control and Prevention, 2013). As a consequence, the demand for ICU services will likely increase, which may burden hospital with additional costs.. Because of increasing economic pressures, more hospitals are using video surveillance to enhance quality care and reduce ICU costs (Goran, 2012). Research shows that VS enhances positive outcomes among patients and best practice compliance among hospital staff. The results are fewer reports of patient complications and days spent in the ICU, and an increase in reported hospital savings. In addition, VS is becoming an important tool for the families of newborns in the neonatal ICU (NICU). The belief is that the VS can facilitate parent-baby bonding. In the United States of America, privacy rights impose legal restrictions on VS. These rights come from the U.S. Constitution, Statutory law, Regulatory law, and State law. HIPPA authorizes the patient to control the use and disclosure of his or her health information. Accordingly, hospitals are under obligation to inform patients on their right to protected health information. It is appropriate that hospitals use VS for diagnostic purposes as long as they have obtained patient consent. According to modern day privacy experts Charles Fried and Alan Westin, a violation of a person's privacy equates a violation on their liberty and morality. However, if a physician suspects that a third party person is causing harm to the patient, than the use of covert VS is justifiable.
Show less - Date Issued
- 2013
- Identifier
- CFH0004475, ucf:45138
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH0004475
- Title
- FEDERAL FUNDING AND THE RISE IN UNIVERSITY TUITION COSTS.
- Creator
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Kizzort, Megan, Hofler, Richard, University of Central Florida
- Abstract / Description
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Access to education is a central part of federal higher education policy, and federal grant and loan programs are in place to make college degrees more attainable for students. However, there is still controversy about whether there are unintended consequences of implementing and maintaining these programs, and whether they are effectively achieving the goal of increased accessibility. In order to answer questions about whether three specific types of federal aid cause higher tuition rates...
Show moreAccess to education is a central part of federal higher education policy, and federal grant and loan programs are in place to make college degrees more attainable for students. However, there is still controversy about whether there are unintended consequences of implementing and maintaining these programs, and whether they are effectively achieving the goal of increased accessibility. In order to answer questions about whether three specific types of federal aid cause higher tuition rates and whether these programs increase graduation rates, four ordinary least squares regression models were estimated. They include changes in both in-state and out-of-state tuition sticker prices, graduation rates, as well as changes in three types of federal aid, and other variables indicative of the value of a degree for four-year public universities in Arizona, California, Georgia, and Florida for years 2001-2011. The regressions indicate a positive effect of Pell Grants on in-state and out-of-state tuition and fees, a positive effect of disbursed subsidized federal loans on the change in number of degrees awarded, and a positive effect of Pell Grants on graduation rates.
Show less - Date Issued
- 2013
- Identifier
- CFH0004522, ucf:45162
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH0004522
- Title
- Understanding and Mitigating Sources of Teacher Dissatisfaction.
- Creator
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Howard, Carl, Boote, David, Hopp, Carolyn, Vitale, Thomas, Hayes, Grant, University of Central Florida
- Abstract / Description
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This dissertation in practice focuses on a review of literature to answer the guiding question, what can teachers and other educational stakeholders do to help address their sources of dissatisfaction in order to build a positive school climate? The author used a modified frame analysis from Bolman and Deal, other published literature, and personal experience to identify seven different, but sometimes related, domains that affect teachers and school climate. These seven domains include...
Show moreThis dissertation in practice focuses on a review of literature to answer the guiding question, what can teachers and other educational stakeholders do to help address their sources of dissatisfaction in order to build a positive school climate? The author used a modified frame analysis from Bolman and Deal, other published literature, and personal experience to identify seven different, but sometimes related, domains that affect teachers and school climate. These seven domains include operations/management, contract application, professional development, classroom management, interpersonal, financial, and unanticipated events. The modified frame analysis was used to help empower teachers to solve problems that affect their performance and motivation, to prevent burnout, attrition, as well as help build and maintain a positive school climate. This dissertation promotes the notion that school climate is composed of and constructed from these seven domains as constituent parts that combine to create the school climate. The author-created tool, Tools for Teachers to Address Domains of Dissatisfaction, enables teachers to quickly reference potential solutions to problems faced. The tool is a prototype, created based on professional literature sources focusing on research-based strategies to identify problems and methods a teacher can use to solve a problem, thus preventing a negative school environment for the students, staff as well as other stakeholders. The domains of dissatisfaction were tested against real-life issues submitted to a Faculty Advisory Committee in order to provide veracity and justification of the domains.
Show less - Date Issued
- 2015
- Identifier
- CFE0005956, ucf:50796
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0005956
- Title
- A Quantitative Study of the Relationship Between Pell Grant Aid and Associated Variables in a Florida Public State College.
- Creator
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Powers, Lynn, Cintron Delgado, Rosa, Owens, James, Cox, Thomas, Roman, Marcia, University of Central Florida
- Abstract / Description
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Using Bean and Metzner's conceptual framework related to non-traditional student attrition, the responsible use of Federal Pell Grants was studied by examining the retention and academic performance of college-credit seeking students in a public college in Florida that predominantly offered two year degree programs. Also analyzed were differences between Pell Grant recipients and non-recipients among various demographic categories. Chi-square tests of independence indicated that statistical...
Show moreUsing Bean and Metzner's conceptual framework related to non-traditional student attrition, the responsible use of Federal Pell Grants was studied by examining the retention and academic performance of college-credit seeking students in a public college in Florida that predominantly offered two year degree programs. Also analyzed were differences between Pell Grant recipients and non-recipients among various demographic categories. Chi-square tests of independence indicated that statistical significance existed between Pell Grant recipients and non-recipients in retention rates from fall to spring terms, as well as in the demographic variables of academic performance, gender, ethnicity, age group, residency, and credit hours achieved. Only the variable of ethnicity showed a medium practical effect size, with all the other variables indicating a small to no practical effect size.
Show less - Date Issued
- 2014
- Identifier
- CFE0005231, ucf:50581
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0005231
