Business Undergraduate Research Theses and Honors Research Theses

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Undergraduate Research Theses and Honors Research Theses from the Fisher College of Business. More about the Fisher College of Business Honors Program can be found at: https://fisher.osu.edu/undergraduate/academics/honors/

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    A Comparative Analysis of Chinese and US Government Approaches to Managing Generic Drug Quality
    (The Ohio State University, 2024-05) Wen, Huajun; Gray, John; Wan, Sean; Prud'homme, Andrea
    This article examines and compares the methods used to ensure generic drug quality management in China and the United States, two countries with important influence in the global pharmaceutical market. From a historical and economic point of view, the unique development processes of the two countries have resulted in different generic drug review processes. China developed later than the U.S. and continues to lag in policy issuance and implementation. However, judging from a review of the historic and current processes of generic drug approval and monitoring, China has greatly improved since 2015. In comparison, the U.S. has a relatively stable review process with continuous adjustments by the government and Food and Drug Administration from the 1980s. When comparing the specific cases of the two countries, there are clear differences in the distribution and implementation of the power of enforcement between China and the U.S. Through a combination of policy analysis, literature review, and case studies, the findings illustrate the strategies adopted by the Chinese and U.S. governments to ensure the safety and quality of generic drugs that are largely similar, but in some cases have unique details based on national circumstances.
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    Financing The Blockchain Revolution
    (The Ohio State University, 2023-05) Rajkumar, Shreyas; Contigiani, Andrea
    Blockchain technology has attracted widespread interest in the past few years. Initially, this technology emerged to support cryptocurrencies, such as Bitcoin and Ethereum. However, its applications are vast and constantly expanding, inducing many observers to view it as a general-purpose technology. While few question its potential to have a significant impact on the economy, critics highlight its limitations and risks. Therefore, the blockchain is currently the object of substantial debate in business, engineering, and government policy. At the core, the blockchain is simply a decentralized system to record and communicate information. Its generality makes it applicable to a variety of commercial domains, making it an attractive area for entrepreneurs. Unsurprisingly, venture capital firms and other investors have taken note of the opportunity and started paying attention to this nascent industry. However, the ambiguity of the technology continues to make this an especially risky space. In this thesis, I investigate how entrepreneurs have been seeking to fund their blockchain startups and how investors have responded. More precisely, I examine whether there are any common characteristics within the companies that have been successful in receiving funding. The answer to this question would help us understand the factors shaping the future investment landscape in the blockchain space. To shed light on this question, I employ an inductive qualitative approach. First, I review the existing academic literature on blockchain and venture financing. Second, I identify a set of ten blockchain-based startups, representative of the most common spaces where the blockchain is used and examine their funding process in depth. I collect data from a variety of sources, including existing databases, social media, news outlets, and interviews with startups' management teams. Finally, I make generalized conclusions based on my observations to generate hypotheses that can be tested in the future using deductive reasoning. Noteworthy results that emerged out of the universe of matched pairs include more founders being involved in the startups equating to more funding, geographical location of startups in startup-dense cities leading to more funding, product price availability on startup websites leading to more funding, and past experience in blockchain not having a huge effect on funding. However, further analysis must be done to have comprehensive results. Ultimately, I expect that this thesis will provide a series of insights that will be helpful for academics, business leaders, and policy makers.
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    Resolving Issues In Business Income Insurance Resulting From Government Mandated Shutdowns During Declared Public States of Emergency
    (The Ohio State University, 2023-05) Thompson, Noah; Blackburn, John
    The COVID-19 Pandemic brought forth an unprecedented time in American history. As the pandemic first rolled through the country businesses were required, by government order, to shut down. As a result, these businesses lost large amounts of revenue and turned to their commercial insurance policies to fill the gap. However, the insurance industry had planned well for such situations and denied coverage on a large majority of claims. This research analyzes the reasons why insurance companies specifically wrote coverage exclusions for pandemic related events among other potentially catastrophic loss categories. Particular attention is paid to the seven principles of insurance, which guide the solvency of different insurance policy coverages. Following the denial of coverage by insurers many business owners took the decisions to the court system. This research analyzes the legal arguments and court decisions made during the appeal of businesses to the courts for coverage denials. Analysis of existing insurance law in the state of Ohio and the decisions made by the courts in these cases allows for better understanding of insurance contracts and actions that can be taken in the future. Despite business owners' best efforts, the courts continued to turn down these legal challenges, and businesses were left empty handed. There were many different actions taken by different entities to help remedy these issues. The Insurance Services Office (ISO), the leading organization governing commercial insurance, offered a new line of endorsements, but these were minimal in scope and ultimately did not provide much in the ways of recovery for business owners. Several states and the federal government proposed various forms of legislation for supporting businesses, but few of these bills made it into codified law. Of the few that made it through, they were entirely retroactive, and so their actual functionality was very limited. By researching these proposals as well as existing government-backed insurance programs, this research creates a new policy proposal to proactively manage events that take place during declared public states of emergency in the state of Ohio. This research will provide methods for solving business interruption issues for pandemics and other similar potentially catastrophic events. This research extends the coverage proposal to include shutdowns required by declared states of emergency in the state of Ohio.
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    The Marketability of High-Priced Stocks After Fractional Trading
    (The Ohio State University - Fisher College of Business, 2023-05) Gunawan, Jennifer; Birru, Justin
    Fintech brokers engaging in a high-frequency trading payment for order flow (HFT-PFOF) model are compensated proportional to the amount of trading activity happening in their accounts. Intense competition for order flow incentivizes them to increase the marketability of stocks by introducing fractional trading (FT) which allows investors to trade stocks without the constraint of prices. This paper studies whether virtually reducing stocks' nominal prices via FT will cause an increase in its demand due to its newfound affordability-- given the ability to trade high-priced stocks, are investors willing to? If we observe an increase in its demand, this study will provide additional evidence that wealth levels pose a significant determinant for trading decisions. We find that retail trading activity in high-priced stocks significantly increased over the 10 days after FT was introduced. In aggregate, we find significant increases in trading volume (by over 1 million trades), volatility, and ownership breadth. We show that Robinhood investors are largely contrarian buyers in the advent of FT. However, their trades may be too small to move the volume weighted average price (VWAP) to showcase their increasing demand as we saw significant increases in volatility and ownership breadth-- this could explain why 10-day CAR was -0.3%. We further provide anecdotal evidence of significant overpricing in retail-favored high-priced stocks where 10-day CAR was +3.4%. This paper shows that the affordability of stocks play a significant role in trading decisions, thus providing evidence towards the marketability hypothesis.
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    Introducing Design-Led Approaches to Business Students in Project-based Learning
    (The Ohio State University, 2022-05) Soller, Celia; Sanders, Elizabeth
    At The Ohio State University, 35 business students in the Honors Cohort Program in the Fisher College of Business are tasked each year to explore and develop community impact projects that are defined by the ambiguous prompt, "to make an impact". The students are randomly assigned to one of five teams and the teams can pick any societal area in which to make an impact. In addition, the teams are free to choose how they define "impact" and how they approach their service design/impact project. This is a form of project-based learning (PBL) because it is an active student-centered form of instruction, characterized by the students' autonomy, constructive investigations, goal-setting, collaboration, communication and reflection within real-world practices (Kokotsaki, Menzies, & Wiggins, 2016). This case study introduced two new design-led approaches to the impact project: design-thinking, and co-design. Many studies have examined the effects of design-led approaches on service design project outcomes (Sleeswijk Visser, Stappers, Van der Lugt, & Sanders, 2005; Steen, Manschot, De Koning, 2011; Liedtka, 2011). The benefits of using a design-led approach inspired the goal of this case study: to introduce and expose components of both design-thinking and co-design to business students since these approaches are not generally included in the standard business curriculum. The five teams of seven students were exposed to the two design-led approaches through four short workshops called 'microbursts' over the course of the Autumn 2021 semester during their seminar class. The students took a survey on the approaches before the first workshop (pre-survey) and the second after (post-survey) all the workshops were completed to assess their knowledge of the three approaches (i.e., business, design-thinking and co-design), benchmark their baseline feelings toward ambiguity, and to generate associations with the term 'community impact'. The post-survey also included questions to gather open-ended feedback on the four workshops, including the workshops' influence on their impact projects. This case study demonstrates how design-led approaches can facilitate project-based learning and collaboration and can contribute to addressing community impact challenges. A common takeaway across each workshop was how important it is to put the stakeholders needs' first and consider how decisions will impact the end-user. This case study cultivated interdisciplinary thinking through design-led approaches that exemplify user-centeredness, ability to visualize, and appreciation for ambiguity.
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    Do favorable Accounting Regulations, Trends, and Reporting Standards incentivize the formation of Special Purpose Acquisition Companies (SPACs)?
    (The Ohio State University, 2022-05) Ostrowski, John; Beatty, Anne
    Since 2020, nearly 50% of all public stock exchange listings have utilized Special Purpose Acquisition Company (SPAC) vehicles, generating almost $250 billion in funding during 2021. Prior to 2020, SPACs represented under 1% of all initial public offerings (IPOs). Blank check companies, the predecessor to the modern-day SPAC, have a checkered history leading to scrutiny of their formation. While legally adhering to regulations designed to address these concerns, issues surrounding warrant classifications and insider trading have called the legality of SPACs into question. This study adds to previous research examining key economic and financial incentives behind SPAC's recent surge by highlighting various accounting incentives that have also contributed to this growth. The growth in SPAC use may result from differences in financial reporting and disclosure requirements for SPACs versus IPOs. Cases such as Jensen v. Stable Road Acquisition Corp. highlight the lack of reporting requirements sponsors face when completing due diligence on targets, leading to an over 200% growth in SPAC fraud litigation post-sale. This study examines SPACs subject to fraud-based litigation using a Benford's law analysis of issued versus restated financial statements and auditor changes before and after the target merger. A sample of SPAC listings between 2015-2021 was extracted from the Audit Analytics database, and pre- and post-restatement Financial Statements were aggregated via Calcbench. Fraud-based SPAC lawsuits were obtained from the Cornell Law Library database. The Benford's law analysis of SPACs subject to litigation resulted in a leading expected digits goodness of fit of 0.59 post-audit and restatement compared to a 0.008 goodness of fit score before restatement, providing evidence inconsistent with non-fraudulent financial statements before restatement and a lack of such evidence after restatement. The percentage of firms audited by just two mid-tier public accounting firms increased to 82.7% of all SPACs, however just 11.5% of firms retain these auditors after merging. With SPAC sponsors generating an over 507% average return vs. -15% for post-merger investors, these results suggest addressing the underdeveloped accounting regulations and reporting requirements may be required for this generation of blank check companies to avoid the fate of their predecessors.
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    Purchase Intentions and The Display of Pricing
    (The Ohio State University, 2022-05) Johnson, Lily; Malkoc, Selin A.
    Consumers are exposed to an overwhelming number of options and prices for each purchase they make. An increasingly prevalent practice is giving consumers a price range instead of a specific price point, leaving the price unknown until later in the process. This study explores how the display of price (price point vs. price range) can impact price perceptions and purchase intentions. We propose that range pricing can hurt brands when the price consumers end up getting is on the higher end. This is because the lower end of the range serves as a natural and optimistic reference point, and thus, prices deviating from it feel less fair and reasonable, resulting in lower purchase intention. Five randomized experiments provide converging evidence that supports these predictions. Study 1 tested our core prediction and found that, while range pricing can increase consumers purchase intent when the eventual price falls on the low end of the range (vs. same price present by itself), if the price falls on the high end of the range, the strategy backfires by decreasing purchase intent. Study 2 replicated these findings even when participants were given a high, but not the highest end of the range, indicating that the range pricing backfires even when the high price is not at the top end of the range (e.g., range of 31.49 dollars - 47.95 dollars , ultimate price of 44.95 dollars). Study 3 demonstrates a boundary condition such that the detrimental effect of range pricing is mitigated when the lower and the higher ends of a range share the same left-digit (e.g., 20 dollars - 29.99 dollars). Further, we find that prices under range pricing are perceived to be less fair and reasonable, which predicted consumers purchase intention. Study 4 replicates the core findings of Study 3 (thresholds can mitigate the range pricing backfire) with a different sample, product category, and prices. Study 5 tests whether providing a justification (i.e., that the item was popular) for prices falling on the high end of the range mitigates the use of range pricing and finds that telling participants that their choice was a "popular item!" significantly increased perceived fairness of the price in the range pricing condition, which then increased purchase interest. In sum, this research demonstrates that range pricing, which can provide benefits under the right circumstances, backfires when consumers get a high price. This is because consumers perceived prices on the top end of the range to be less fair and reasonable, and thus providing a justification mitigates this effect. Studies in progress examine other mitigation strategies.
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    International Consolidation Order-fulfillment Model
    (The Ohio State University, 2016-05) Chen, Jingbo; Hendrickson, Jim
    Traditionally, there are mainly two methods for companies to fulfill orders that come from international customers: either through its foreign distributors or ship the order through international parcel carrier. However, the disadvantage of both methods are significant. International distributors charge a noticeable commission, which reduce the item profitability, and cost of international parcel is usually higher than the parcel value itself. This research proposes new order-fulfillment model to minimize the international order-fulfillment cost while keeping the delivery lead time short. The proposed order-fulfillment model utilizes freight consolidation as well as inter-model transportation concepts and requires companies to have access to a warehouse located nearby the targeted market. This research simulates a Los Anglos based company fulfilling orders from customers in mainland China. Costco's open source data and costs data from transportation providers are acquired to assess the effect of the proposed model. Current process in the research shows that companies can lower up to fifty-six percent of the cost and reduce the delivery lead time from seven to fourteen days to six days by applying the proposed model. The preliminary findings suggest that the proposed order-fulfillment model will allow companies to reach out to their international customers with less costs and increase customer satisfaction since the customers' anxiety of waiting for packages is reduced. This research provides evidence that the proposed order-fulfillment model can be a powerful tool for companies who wants to expand their business globally, and since the total delivery cost is reduced, international customers can enjoy less expensive imported goods and shorter waiting time.
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    Corporate COVID-19 Safety Response, Twitter Sentiment Exposure Influence on Customer-Based Brand Equity, Consumer Attitudes, and Intentions: An Experimental Approach
    (The Ohio State University, 2021-05) Kall, Amanda; Haugtvedt, Curtis
    Qualitative insights drawn from Twitter discourse about or directed to United Airlines and Costco Wholesale pertaining to their coronavirus-related responses, procedures, or operations are used to develop materials and questions used in an experiment. In the experiment reported in this paper, electronic word of mouth (eWOM) communication published by users on Twitter is shown to influence participants' attitudes toward the companies. The authors were interested if a significant difference would be observed in variables measured before and after exposure to Twitter discourse. Measures included brand awareness, brand associations, brand image, brand attitude, perceived quality, trust, loyalty, purchase intention, and customer-based brand equity. Twitter discourse was presented to participants in blocks of material, in random order and counterbalanced, containing either favorable or unfavorable sentiment about the companies. To assess changes in attitude, a measure of brand attitude followed each block of material. Data related to information about participants such as personal Twitter usage, perceived information characteristics of Twitter messages (related to quantity, reliability, quality, and persuasiveness), attitudes about COVID-19 precautionary measures and associated comfort, and perception of greed and blame attribution related to companies of concern was also collected. Statistical analyses of responses by 305 undergraduate students indicated that eWOM significantly affected attitudes about the organizations. These attitudes were positive for Costco, and negative and of greater magnitude for United Airlines. We also find that comfort in public settings given others wearing mask was our most significant predictor for degree of change in post- and pre-measure scores. Furthermore, we found that the more loyal consumers were before exposure to the messages, the less the Twitter exposure swayed different aspects of their attitudes about the companies. Conclusions from this study have potential significant implications as no research encountered to date shares a similar objective of analyzing changes in consumer sentiment given exposure to eWOM on Twitter using a before and after research design, while also focusing on company actions in the context of a global pandemic.
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    Comparison of Afghan Remittance Systems
    (The Ohio State University, 2021-05) Rao, Nayan; Prud'homme, Andrea; Payind, Alam
    In 2019 the Special Inspector General for Afghan Reconstruction noted that only 15% of Afghans have a bank account or use a mobile money provider. Nonetheless, Afghans continue to send and receive money from both domestic and international partners using services like Western Union (a U.S. based, international money transfer company), and the long-used, informal, Hawala system. This research examines and compares different payment/remittance systems available to Afghans. Specifically, this research uses factors derived from previous research to conduct a comparative analysis of several payment/remittance systems: Hawala, In Person Western Union Money Transfers, Traditional Banking Wire Transfers, and Bitcoin transfers. While several systems are used by Afghans, Hawala has historically enjoyed an advantage due to its community-developed trust. Even though Western Union transfers are reliable, faster, and trackable, formal identification requirements and corruption in Afghan Banks has resulted in distrust in, and limited use of, such established institutions. The research found trust to be the main factor that separates Hawala from alternatives and the comparisons lead to a recommendation that trust building through community relations is a central part of a successful framework for a legal, trusted, and reliable payment system.
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    Exploring How Logistics Activities Can be Used to Motivate Consumer Cross-Buying Behaviors Across Omnichannel Fulfillment Channels
    (The Ohio State University, 2021-05) Whiteford, Lauren; Knemeyer, Michael
    As e-commerce continues to become an increasingly integrated part of consumer's lives, companies will be challenged to adapt their traditional retail approaches to changes in shopping behaviors. For many companies, the move to a more online-centric buying environment will involve an expansion of omnichannel distribution alternatives, wherein consumers can select logistics delivery methods that best fit their preferences at any given time. These logistics delivery methods will be offered through a digital interface but could involve delivery directly to the consumer's home or to a conveniently located brick-and-mortar location. All the while, there continues to be targeted efforts to encourage consumers to buy more than their initial intentions, commonly referred to as cross-buying. Consumer cross-buying activities have been an important source of incremental revenue for companies when consumers make purchases in their brick-and-mortar stores. However, little is known regarding how expanding logistics fulfillment options will affect consumer behaviors when purchases increasingly involve online components. There are many factors that influence both what fulfillment channel consumers will utilize and whether or not they influence the propensity to buy more. This research focuses on the omnichannel distribution methods of At-Home Delivery, Buy Online Pickup In-Store (BOPS), and Curbside Pickup, as well as the potential logistics characteristics of the cost of fulfillment, time considerations, and physical location of product delivery. In addition, this research seeks to quantify consumer's opinions regarding efforts to promote cross-buying and their current methods and tendencies in shopping. A vignette-based experiment was utilized to address these research questions, while also analyzing how buying behaviors and delivery channels are impacted by demographics, such as gender and self-identified buying profiles, and any prior knowledge and/or usage of the different fulfillment opportunities. Conclusions and suggested implications built from the results of the experiment were constructed to help provide insights for logistics managers moving forward into an increasingly omnichannel world.
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    Impact of Immigrant Origin Home Country Level of Financial Access and Inclusion on Immigrant US Financial Literacy Scores
    (The Ohio State University, 2020-08) Conway, Mary; Hanna, Sherman; Prud'homme, Andrea
    Success in the United States is determined by financial success and security, both heavily related to an understanding of basic finances. The lack of financial literacy around the world has been studied in more detail since the early 2000s, but the majority of studies look at impacts of lack of financial literacy rather than factors leading to varying levels of financial literacy. Having a high level of financial literacy roughly means having an understanding of credit, banking and saving. This is especially important for immigrants in the United States without support systems. Immigrants on average are less financially literate than non-immigrants. To look beyond simply immigrant status, this study examines how immigrant's scores on financial literacy exams are related to their home country level of financial inclusion in an attempt to control for the status of the country of origin. The World Bank's Global Findex Database was used to measure inclusion. The database measures the percentage of the population that have a financial account in a bank, microfinance account, or other financial account in 148 different countries. We believe greater access to financial institutions will lead to higher financial literacy test scores in the US, as observed by the Understanding America Study's financial literacy database. This database measures household characteristics, financial literacy scores, and demographic factors for approximately 7000 people. When measuring the impact of immigrant status, home country financial inclusion and controlling for education, age and gender, the level of financial inclusion is always statistically significant. Without immigrant status as a factor, inclusion is very significant and when run with immigrant status, is loses some significance but remains a good indicator of success on financial literacy exams. While the Understanding America Study does have limitations (it does not list the age of immigration, or allow for information about home country education, income or social standing), this exploratory study shows that country of origin access to finances should be a factor considered in policy and education for immigrants.
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    TRANSFORMING OHIO'S RURAL ECONOMY: THE CASE OF MILAN TOWNSHIP'S BUSINESS INCUBATOR PROGRAM
    (The Ohio State University, 2020-05) Frederick, Nicholas; Prud'homme, Andrea
    Rural areas are losing their vitality based on measures of population growth, average age, and tax basis. The current economic development tools available to rural areas are insufficient at providing the necessary catalyst for revitalization. This descriptive case study on the U.S. midwestern state of Ohio finds that rural areas have underserved industries which could be satisfied via new business establishment. Upon further study into an economic development initiative implemented at the township level, it appears beneficial to focus rural revitalization efforts through a community-led business incubator program. Centering the program around area needs, civic engagement, and the alleviation of initial start-up costs, each community can take both an active and effective part in revitalizing their local area.
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    Job Acceptance Factors and Total Rewards Preferences Among Business Students
    (The Ohio State University, 2020-05) Dearing, Audrey; Inks, Lawrence
    Employee turnover is a cost for businesses, and companies should put a strong focus on designing the employee experience in order to attract and retain the strongest available talent, to reduce this cost. This study explores total rewards preferences, which are the aspects of a job offer, both tangible and intangible, among business students at The Ohio State University to determine which aspects of an employment package are most important to students when considering a job offer, along with an exploration of demographic differences in preferences among business students. Data collected through a survey suggests that the most important total rewards factors are salary, benefits, and the perceived culture of the organization. Salary was consistently the most important factor for students. This data can be used to support the design of the total rewards strategy for businesses in order to ensure that time and resources are going toward a total rewards package that will assist in meeting strategic goals.
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    The Economic and Social Effects of Legalized Sports Gambling
    (The Ohio State University, 2020-05) Sichel, Adam; Draper, John
    This research aims to provide a two-pronged look at the implementation of legalized sports gambling across the United States. After a law restricting sports betting was struck down in 2018, all states became free to decide whether they wanted to allow people within their borders to bet on sports. This work focuses on the economic and social effects of legalized sports gambling. Given the recency of the decision, little research on legalized sports betting has been done in the U.S. outside of the state of Nevada. Economic effects are analyzed using handle (amount wagered) figures reported by states through various lenses, including methods of sports betting permitted, population, location of the state, and other factors that could affect economic success. The examination of social effects aims to shed light on how sports gambling is being viewed by college students, namely whether it is supported, viewed as "immoral," stigmatized, if there should be restriction, what kinds of betting should be permitted, and whether sports betting is an overall benefit or harm to society. Social data was gathered through the distribution of a survey to college students throughout the U.S. Although legalized sports gambling provides consistent positive economic returns, the most important determinant of economic success seems to result from the allowance of mobile sports betting. Socially, respondents noted that they consider betting on sports "normal" but that it should not necessarily be a part of the sporting experience. Whether college students consider legalized sports gambling an overall benefit or harm to society is unclear. Finally, their views of sports betting as a "stigma" haven't changed as states legalize the practice.
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    The Usage of Personal Data as Content in Integrated Marketing Communications
    (The Ohio State University, 2020-05) Donlin, Victoria; Donnelly, Grant
    Personal user data has proven extremely valuable for firms in the digital age. The wealth of data available to firms has provided unprecedented access into the world of the consumer. Companies hoping to capitalize on their user's data have turned to several interesting outlets. This research addresses the repurposing of user data as content in marketing. By analyzing four cases of data presented as marketing communications across two companies, this research provides new insights into the public release of private user data for marketing purposes. Four cases of personal data used in marketing communications were chosen specifically for their time proximity, characteristics of the sending firms, and their disparate outcomes. These instances of marketing communications, two by Spotify and two by Netflix, were released during November and December of 2017 and each resulted in a diverse range of public opinion. An analysis of these cases was conducted using the comprehensive framework of integrated marketing communications (Tafesse & Kitchen, 2017). There is a significant difference in the perceptual outcomes of integrated marketing communication campaigns which display user data as content. This analysis provides insights into the characteristics of marketing communications and how their outcomes fit into broader marketing strategies. These case studies provide opportunities for marketers to improve their campaigns in line with their desired audience outcome. Patterns of scope, strategy, mode, and outcome do not suggest success or failure in the context of marketing communications, but rather a set of insights marketers should keep in mind when pursuing communication strategies which harness personal user data.
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    How Cost of Attendance Stipends are Creating New Precedents in NCAA Athletics
    (The Ohio State University, 2020-05) DeCort, Callie; Ruddy, Ryan; Prud'homme, Andrea
    The problem being tested is: How are the new Cost of Attendance (COA) stipends implemented in 2015 affecting spending on women's and men's non-revenue sports? The problem will be explored through data collected on all FBS and FCS Division I schools. The hypothesis will be in the form of an ordinary least squares regression (OLS) with the following general equation format, Equation 1: Outcome=ß0+ß1GiveOutThisYear+ß2AfterCOAImplemented+ß3EverGiveOutCOA+ß4TotalRevenue with the coefficient of interest being β̂1 (GiveOutThisYear). Outcomes of interest include: spending on women's sports, men's non-revenue sports, and men's revenue sports to see if the COA stipend had an effect on spending for women's sports and men's non-revenue sports. Regressions were also run with output: Men's and Women's Operating and Recruiting Expenses to separate out spending expenses into categories to dive deeper into the data. The main conclusion drawn from the research is that it appears as if the money used to pay COA stipends is coming from the men's and women's operating budgets and that the portion coming from the men's budget is proportionately significantly higher than the women's budget, refuting the idea that COA stipends hurt women's sports. The research also showed a preliminary indication that more money is coming from the men's non-revenue sports operating budget than the men's revenue sports operating budget. This study showed how COA stipends are being paid for and the potential negative effect they could have on men's non-revenue sports. This is data that has not before been collected or analyzed. The data can be extrapolated further to delve in deeper into money circulation within NCAA university athletic departments. The research serves as an eye-opener to see where money does and does not seem to be a priority within both athletic departments and schools.
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    Over-Pessimism of Bank Stocks since the Great Recession of 2008
    (The Ohio State University, 2020-05) Brady, Thomas; Birru, Justin
    In September of 2008, the "Great Recession" began and wreaked havoc on the global financial system. This severe panic caused fear, volatility, and a rise in the perceived risk of securities. In this unique environment, banks were a deserved scapegoat of the recession and the future profitability of banks was in question. This research investigates whether this severely negative sentiment led to investors being over-pessimistic in their views regarding bank stocks. Did internal psychological biases play a role in investors' disdain towards bank stocks? If this hypothesized pessimistic behavior can be shown, this research can provide evidence that either investors are irrational actors who have routinely incorrect views towards future cash flow streams of securities or that human biases obscured the ability to see the opportunity for a recovery in these securities. For this work, earnings per share (EPS) announcements act as adjustments to the stock's intrinsic value as the market theoretically reacts accordingly, to either affirm past predictions or edit those previously false forecasts immediately after earnings are announced. In order to turn EPS metrics into earnings reactions, we measured the price reaction from the 3 day period before earnings announcements through the day after to gauge investor sentiment. From this, we were then able to find whether investors and analysts were over/under-optimistic or over/under- pessimistic towards a sample of 48 banks from 2008-2019. Through a detailed examination of earnings reactions and regression analyses, it can be determined that investors were significantly over-pessimistic towards financial stocks. For example, in Q2 2008, the sample had an average "positive surprise" of 11.34%, meaning that the stock prices increased 11.34% on average from the day before its earnings announcement to the day after's closing price, signifying that analysts and investors were too pessimistic before earnings revealed the new reality of bank conditions. This phenomenon is tested for many variables including testing over differing time periods, for banks of different sizes by market cap, among many other factors. Through these tests, we are able to determine that irrational behavior persisted in this time period, providing evidence towards incorrectly biased actors in the market, and thus evidence against the Efficient Markets Hypothesis (EMH).
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    Volunteer Vetting Process within Nonprofit Organizations
    (The Ohio State University, 2020-05) Shreve, Audrey; Mittendorf, Brian
    This report uses multiple Ohio chapters of Big Brothers Big Sisters to analyze how children-centered nonprofit organizations manage the tension between efficiently and successfully meeting their objectives and ensuring child safety via their volunteer vetting processes. Organizations like Big Brothers Big Sisters that rely heavily on volunteer participation face many risks when vetting volunteers. The process used to vet these individuals, including recruitment, screening, acceptance, and certification, is lengthy; however, there is a buildup of demand for volunteers while this process is taking place. This research looks to understand if the vetting processes are able to balance safety of children with efficiency of the process. Several methods were used for compiling data: internal surveys within Big Brothers Big Sisters; analysis of financial reports and grants of nonprofit organizations; and analysis of donor reports for these same organizations. The data accumulated within this research serves to determine if and how the vetting processes used by Big Brothers Big Sisters to vet potential volunteers is both successful and quick. Public opinion and reputation play a large part into the financial and overall success of nonprofit organizations, which is taken into account for success of the vetting process.
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    From the Boardroom to the Courtroom: Monsanto Corporate Influence and Liabilities
    (The Ohio State University, 2020-05) Bonner, Matthew; Elmore, Bartow
    This thesis examines the Monsanto Company's corporate public affairs and government relations strategies to understand current litigation on Roundup's carcinogenic effects. The research analyzes previously confidential internal company documents from The. Monsanto Company Archives and recently released federal court litigation documents known as The Monsanto Papers to trace corporate influence. This research examines Monsanto's strategy to influence scientific information, regulatory bodies, public. opinion, and the university partnerships that served as a major liability for the company in contemporary court cases. Monsanto's ghost-writing and regulatory body manipulation practices for the commercialization of biotechnology products such as Roundup serve as a vital case study for both businesses and consumers.