Research Experience for Undergraduates 2019 by GW School of Business

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Congratulations to the 27 students and 17 faculty who collaborated this year in GWSBâ&#x20AC;&#x2122;s Research Experience for Undergraduates Program (REU). The increased number of collaborations reďŹ&#x201A;ects the success GWSB realized from REU over the years. Of greatest importance is the opportunity REU gives students to work alongside top scholars as they develop new knowledge beneďŹ ting both business and society. Along the way, students sharpen their intellect and hone important skills by synthesizing, organizing, analyzing, and presenting data. These skills are highly valued and transferable to virtually any career. Furthermore, the demand for these skills is only likely to grow in the coming years. Participation in REU, therefore, gives our students extraordinarily valuable experiences, and all of us are grateful to the faculty who made those experiences possible.

ALEX WARD BBA CANDIDATE CLASS OF 2019 MENTORED BY PROFESSOR TARA RADIN STRATEGIC MANAGEMENT AND PUBLIC POLICY CONCENTRATION IN FINANCE AND ACCOUNTING WITH PSYCHOLOGY MINOR

Moving Past the Shareholder-Stakeholder Debate: An Argument for Changing the Metaphor to Firm Primacy Description: Our research stemmed from interest in fiduciary duty as well as classic historical arguments of stakeholder theory and shareholder primacy. After hours of academic research we concluded our own recommendation for corporate leadership decisions namely, firm primacy. This means of corporate decision making utilized the aspects of orientation, transparency and agnosticism to ensure all choices made by managers put the firm first.

Outcomes: -

An 18 page paper that was submitted to an award ceremony. A dynamic model within the paper helping managers make decisions. Recipient of top 4 paper award at the IVBEC conference. Presented our findings are the IVBEC conference.

Industry Impact: We hope our research aids managers in making decisions. The current decision framework results in a inherent corporate schizophrenia where management is unsure how to consider when making decisions. We propose keeping it simple, and telling managers to make decisions for whom they govern, the firm.

Why REU: I decide to choose REU to pursue a genuine Academic interest, and also engage with a professional whom I consider smart, hard-working and caring. It is really a privilege to work with someone who is so passionate and knowledgeable and wants the students to learn and grow from the experience.

BS CANDIDATE CLASS OF 2022 MENTORED BY DR. YOULI ZOU DEPARTMENT OF ACCOUNTANTCY, B.S IN FINANCE AND ECONOMICS

ALEXANDER ASKAR The Real Effects of Geographic Lending Disclosure on Banks Description: This project examined how mandatory disclosure of lending geographies could affect banks' loan underwriting decisions. Essentially, the purpose was to examine whether banks reduce community reinvestment commitments/pledges after they stop disclosing geographic lending distribution of small business loans since 2005. My responsibilities consisted of gathering community protests against certain banks regarding their CRA (Community Reinvestment Act) performance and analyze the nature of such protests.

Outcomes:

Enhanced my professional communication skills Improved my data collection techniques Strengthened my problem-solving abilities Understand the difficulties in dealing with banks

Industry Impact: I found that that material that this project examined is crucial to the banking industry. The main purpose of a bank is to distribute loans for all types of purposes, and my goal was to determine whether banks reduce community reinvestment pledges after they stop disclosing geographic lending distribution of small business loans. The data we gathered and analyzed showed which banks reduced reinvestment pledges, and we then can determine how communities have been affected. The Community Reinvestment Act (CRA) is an important check on the banking industry because it requires banks to invest in their communities and file/keep records of such investments.

Why REU: I chose to do REU because I wanted to try something different starting my career here at GWSB. Working with a professor on a research project has always been a goal of mine, so when I was introduced to REU, I knew I had to accept the challenge. REU is a great opportunity that I encourage all students to take advantage of. The experience exposed me to many new things and I learned a great amount throughout the entire process.

ANDER TEBBUTT BACCY CANDIDATE CLASS OF 2022 MENTORED BY DR. ARTHUR WILSON DEPARTMENT OF FINANCE, ACCOUNTANCY AND CHINESE/ECONOMICS

Reviewing the Development of 19th Century American Finance and its Implications on the 21st Century Description: Looking at American financial history, there is a significant lack of knowledge of pre20th-century finance. Through our research, we explore the beginnings of banking in the United States and how its development. This can provide insight on current topics such as financial crises and relatively new financial institutions like hedge funds.

Outcomes:

Understanding the role of Clearinghouses before the institutionalization of the Fed. Finding parallelisms between 19th-century panics and modern financial crises. Further research on early stage banking networks in a developing economy. A look into the growth of banks and how legislation impacted such growth.

Industry Impact: The 19th century American finance is largely defined by the rampant panics that occurred. With recent times similarly affected by such crises, a look into the past may produce insight on solutions. Furthermore, we can use historical institutions such as trust funds and compare its impact to something that is still not as understood, like hedge funds.

Why REU: I participated in REU because I felt that research brings an opportunity for development in critical analysis and writing. Also, being mentored by a professor in the business school allows me to build personal connections. Lastly, I feel that research is a skill that is not frequently seen in the business world. Therefore, by building upon such a skill, I would expand my potential interests.

CAROLINE SROKA BS CANDIDATE CLASS OF 2022 MENTORED BY DR. JOHN J. FORRER INSTITUTE FOR CORPORATE RESPONSIBILITY MAJOR IN INTERNATIONAL AFFAIRS

Impact Investing Description: Impact Investing is the concept of extending investments based off of anticipated social and financial returns. The field is fast growing, estimated to be worth $1.000 Trillion by the year 2020. The current Initiative at GWSB’s Institute of Corporate Responsibility is examining common challenges – including accountability and risk – and practices within the industry in order to develop new project structures to maximize social and financial returns.

Outcomes:

A profile of Impact Investors for assisting projects in attaining funding from the best matched source. The development of a new Impact Investment project structure based of the structure of Public-Private Partnership deals. A new GWSB course centered around Impact Investing. A roundtable convened in Winter 2019 and Fall 2019 featuring field experts from the finance and development perspectives.

Industry Impact: The continued research in developing a project structure that will increase accountability and best mitigate risk will open the door to projects that previously were unable to attain access to capital. Additionally, through the educational initiatives of the Institute – including roundtable discussions and the new course – students and members of the space will collaboratively form new partnerships, connections, and knowledge.

Why REU: REU gave me the opportunity to become involved in a hands-on research experience while still an undergraduate at George Washington. Additionally, the field of Impact Investing is a space I hope to pursue as my career and working with the Institute of Corporate Responsibility through REU has allowed me to further my knowledge, expand my network, and contribute to my desired field of interest.

CLASS OF 2022 MENTORED BY DR. PAUL M. SWIERCZ DEPARTMENT OF MANAGEMENT

CHANDLER POLLOCK Free-Agent Unionism in Professional Sports: Employee Voice in the Era Non-Standard Employment Description: I partnered and collaborated with Dr. Paul M. Swiercz, professor and chairman of the Department of Management at The George Washington University, on his revolutionizing project, Free Agent Collective Bargaining: Lessons from Professional Sport, which is intended to be published in the Labor Law Journal. I compiled and synthesized various court cases, statues, and NLRB decisions regarding the major professional sports leagues in order to construct a multidimensional timeline, which assisted our analysis in the adaptation of labor law to accommodate the emergence of free-agent unionism - a form of unionism currently limited to professional sport.

Outcomes: -

A multidimensional timeline consisting of relevant data concerning the legal and social aspects regarding free agent unionism in professional sports. A paper that argues that a new species of unionism – free-agent unionism - has emerged after a century long contest between owners and workers within the professional sports industry.

Industry Impact: Through this research free-agent unionism is summarized, compared to classic managerialism, and serves as a benchmark for future research.

Why REU: As a first semester freshman, I came into GWSB knowing that I wanted to get involved in something outside of the classroom; I just didn’t know the capacity in which I would do this. When information about REU landed on my lap, I knew it was a prospect I couldn’t pass up. I saw REU as an amazing opportunity to explore a sector of business I was passionate about, while working alongside an expert in this respective field.

DANIEL KIM BA CANDIDATE CLASS OF 2019 MENTORED BY DR. YIXIN LU INFORMATION SYSTEMS & TECHNOLOGY MANAGEMENT DEPARTMENT, BUSINESS

Examination of Public Sentiment on Twitter Description: In this study, we examine Twitter tweets regarding the Facebook Cambridge Analytica (CA) scandal that was widely exposed to the public on March 2018. It is estimated that at least 50 million profiles were collected and used to create psychographic profiles. While the extent of CA’s tinkering with public opinion during the 2016 US Presidential Election is debated, the incident has put the limelight on data privacy and whether or not government needs to enforce stricter regulation on tech companies. To understand the public’s opinion towards Facebook, we used Twitter tweets specifically about the scandal. Using TextBlob, a sentiment tool, tweets were assigned scores on a scale from -1 to +1 (-1 being most negative & +1 being most positive). We assigned scores above 0 as positive, below 0 as negative, and 0 as neutral. We hypothesized that sentiment would become more polarized during specific events in the Facebook timeline such as Mark’s testimony in Congress and Facebook’s EU hearing.

Outcomes:

Tweets from March 17-June 5, gradually decrease in neutrality. From March 17– April 11 2018, the mean neutral count over 28 days was 101.39. From April 12- May 10, the mean neutral count was 99.71 over the next 28 days. From May 8-June 5, the mean neutral count was 79.64. Rather than positive or negative sentiment score spiking on Mark Zuckerberg’s hearing (April 10-11) or the UK parliament hearing (April 26), the results show a gradual increase in both positive and negative sentiment counts showing twitter users gradually became more polarized. May 2, 2018 had the most negative tweets (33.5%) and May 21, 2018 had the most positive tweets but at the same time a very high negative tweet count and the lowest neutral tweet count.

Industry Impact: Today, understanding customers' changing tastes and opinions are crucial for an organization to stay competitive. Increasingly, companies are engaging their customers directly through social media. While estimates of public sentiment using online analytical tools have still ways to go, these measurements can give a slightly clearer picture of the current market trend. Marketing teams may also get a clearer picture on their campaign effectiveness. For news and media outlets, this type of information may be of value in gauging an articles impact and effect on readers.

Why REU: REU provides funding and valuable support to students. We had monthly meetings with other students researching various topics and had an opportunity to share our topics and hear from others on how they are going about their projects.

YIWEN CHEN BBA CANDIDATE CLASS OF 2019 MENTORED BY DR. WENJING DUAN DEPARTMENT OF INFORMATION SYSTEMS & TECHNOLOGY MANAGEMENT, BUSINESS ANALYTICS AND STATISTICS

Discovering the Impact of Physician Payment Sunshine Act Description: This research aims to conduct large-scale national healthcare data analysis aiming to investigate the impact of healthcare regulations, such as the Physician Payment Sunshine Act, on interactions between pharmaceutical companies and physicians. The project would focus on big pharmaceutical companiesâ&#x20AC;&#x2122; behavior changes and doctor behavioral analysis under new policies.

Outcomes:

Pulled data from website and built a database using MySQL. Reviewed literatures on related policies. Conducted qualitative analysis on individual access to medical records of different states.

Industry Impact: This research is still at its initial phase of critiquing the literature, narrowing down the topic, and appropriate research designing. The ultimate goal is to evaluate the impact of healthcare policy change.

Why REU: Doing research with Professor Duan helped me develop transferrable skills. I applied the knowledge I learned in previous classes to the real-world setting, such as pulling data and building database using SQL. Also, I learned new knowledge about the healthcare industry and related policies through reviewing literature. I thoroughly enjoyed this opportunity of creating something new and making an impact.

FANXI WANG BBA CANDIDATE CLASS OF 2020 MENTORED BY DR. ANNA HELM CENTER FOR INTERNATIONAL BUSINESS EDUCATION AND RESEARCH, FINANCE & INTERNATIONAL BUSINESS, STATISTICS

Reviewing GW FYDP Survey Results & Analyzing Relationships and Influencers Description: The Teagle Grant research works to support and strengthen liberal arts education, which it is seen as fundamental to meaningful work, effective citizenship, and a fulfilling life. The aim is to serve as a catalyst for the improvement of teaching and learning in the arts and sciences while addressing issues of financial sustainability and accountability in higher education.

Outcomes:

Cleaned and quantified 1,000+ datasets collected from GWSB freshmen in the past 3 years. Identified and virtualized relationships between students’ decision and influencers using advanced statistical tools of Excel and Tableau. Proposed and examined the statistical significance among factors using SAS and R Language. Conducted comprehensive statistical analysis with observations.

Industry Impact: This research will benefit GW to better understand freshmen’s needs when it comes to decision making in regard to majors and minors. Meanwhile, the research results serve as references for the future FYDP course design that integrates the influencers in students’ GWSB exposure.

Why REU: Participating in REU allows me to further utilize both of my technical skills of applying statistical tools and personal skills of working in a collaborative setting, to practice real world solutions that may benefit the community in large.

BBA CANDIDATE CLASS OF 2019 MENTORED BY DR. SUBHASISH DASGUPTA SCHOOL OF BUSINESS INFORMATION SYSTEMS TECHNOLOGY MANAGEMENT

LEONID LEZHNIN Identifying Mechanisms That Affect Programming Performance Description: Much attention has been given to the fact that women and racial minorities are underrepresented in STEM and computing professions. These gaps begin quite early in the education pipeline, with differences in achievement and interest reported as early as elementary school. It is important to understand, however, where these gaps come from, in order to identify interventions that can reduce inequalities. This preliminary study seeks to identify the mechanisms that affect programming performance, with the goal that later studies can design and test interventions.

Outcomes:

Gained hands-on experience in research and analysis methodologies. Assessed the effects of age and gender on programming performance. Analyzed the predictive power of attitudinal and cognitive variables such as goal orientation and technology self-efficacy as possible mechanisms. Learned how to collaborate with a research team.

Industry Impact: Firstly, studying the mechanisms that affect programming performance can greatly improve educational programs and help to develop new, individual-based teaching methodologies. Secondly, understanding which attitudinal and cognitive variables might predict high programming performance can improve workforce hiring processes and job satisfaction in the industry.

Why REU: In my opinion, the Research Experience for Undergraduates program is a great opportunity for students interested in a research field. By combining convenience, faculty guidance, and necessary facilities, it allows the students to gain research methodologies and techniques and create benefit for the industry of their interest.

MIRANDA SIMON B.B.A. CANDIDATE CLASS OF 2019 MENTORED BY DR. JOHN FORRER INSTITUTE FOR CORPORATE RESPONSIBILITY BUSINESS ECONOMICS AND PUBLIC POLICY; POLITICIAL SCIENCE

Analyzing the Business Responsibility to Supply Chain Sustainability in the Production of Commodity Chocolate Description: We have been researching GoodWill Chocolate, which involves economic, environmental, and social equity in the production of commodity chocolate. Our goal is to encourage businesses to become aware and responsible for the entirety of their supply chain. In the spring of 2018, we did a feasibility study to test whether the vendors on the George Washington University campus would be interested in selling conflictfree chocolate options. This semester, we worked with several vendors to further analyze their supply chains and the sustainability of them. We conducted a study to better understand consumer preferences and respondentsâ&#x20AC;&#x2122; awareness surrounding the inhumanity, environmental destruction, and economic insecurity in the production of commodity chocolate.

Outcomes: -

92% of respondents believed chocolate businesses are responsible for knowing the sustainability of their supply chain. 72% of respondents rated a 6 or above on a scale of 1 to 10 (10 being the most important) for the importance of sustainable production in the chocolate they consume. 80% of respondents reported that they were unaware of the fact that most name-brand chocolate businesses do not guarantee that their product is made in a humane manner.

Industry Impact: This data shows consumer interest in GoodWill Chocolate; however, most respondents lacked a foundation of awareness on the inhumanity within chocolate supply chains. We have presented this information to several GW campus vendors and are helping these businesses to make more responsible change. In addition to this, we have begun a campaign on GWâ&#x20AC;&#x2122;s campus to increase the awareness of these issues. We envision that our research will impact the industry through increased consumer demand and growing responsibility.

Why REU: REU has given our project the necessary resources and tools to conduct our study over the past three semesters.

NAVODHYA SAMARAKOON BS CANDIDATE, CLASS OF 2020

Ambidextrous Cybersecurity: The Seven Pillars (7Ps) of Cybersecurity

MENTORED BY PROF. SCHEHERAZADE REHMAN IN COLLABORATION WITH PROF. ELIAS CARAYANNIS

Description:

BACHELOR OF SCIENCE IN ECONOMICS AND INTERNATIONAL AFFAIRS CONCENTRATION IN INTERNATIONAL ECONOMIICS AND MINOR IN MATHEMATICS

In our digital economy, technological innovation is evolving rapidly due to evolutions in production, knowledge, and increases in competition catalyzed by globalization. Unfortunately, in this economy, companies often neglect securing their data, systems, and networks, perceiving the costs associated with cyber-security as a trade-off with innovation. Our work focuses on how companies can re-orient their organizationâ&#x20AC;&#x2122;s structure and practices towards an ambidextrous posture in which they can innovate and secure their products. We focus on leadership characteristics, exploring literature in leadership theory and ethical leadership, and connect our findings to form a new theory of leadership that applies to cyber-security: The 7Ps developed by Professor Carayannis. These 7ps are, namely, patient, persistent, preserving, proactive, predictive, preemptive, and preventative.

Outcomes:

Leaders must take a proactive stance on cyber-security to move from fixing data breaches towards preventing them. Leadership and lower level management play a key role in developing a companyâ&#x20AC;&#x2122;s absorptive capacity. Inter and intra firm knowledge processes can improve security systems. It is essential for government, firms, academics, and civil society to crosscollaborate to improve threat-detection and security systems.

Industry Impact: Firms must learn to open knowledge flows to collaborate within industry, across industry, with government, academia and civil society in order to create strong cyberdefenses. To achieve these goals, leadership plays an essential role in fostering organizational ambidexterity and creating a cybersecurity-oriented culture within firms. Firms should train leadership on ICT knowledge and arrange their departments towards exploitative and exploratory behaviors, building on external knowledge to innovate and secure data, networks, and systems.

Why REU: REU provides me with the platform to communicate my research progress and display my final product. The program formalizes the research process, enabling me to produce meaningful research by creating structure. Furthermore, the program allows me to interact with other student researchers.

BS CANDIDATE CLASS OF 2020 MENTORED BY DR. MIN HWANG AND MR. EUNPYO HONG DEPARTMENT OF FINANCE MAJORING IN FINANCE AND ECONOMICS

NICHOLAS IFTIMIE Analyzing Earnings Verbiage and Extrapolating Future Returns Description: Earnings announcements are generally tricky documents filled with jargon that can be difficult to decipher. By analyzing key sentences and phrases in the earnings report, our work focused on making it easier to understand and insolate specific components key to the fundamental analysis of the security. Key metrics for our analysis included leverage type and reported goal for leverage ratio. These metrics, if extrapolated properly from an earnings announcement, can accurately model future returns to the security.

Outcomes: -

Used historical reports and earnings data to create baseline data entries. Corrected previous entries that no longer fit the current format. Streamlined the entry process to make it more efficient to enter data.

Industry Impact: This study has the potential to change the way that earnings reports are analyzed by industry specialists and consumer investors alike. If specific phrases or sentences have a statistically significant correlation to future security price, it could fundamentally change the way analysis is conducted. Security analysis has become focused on qualitative measures of performance, this study will help provide further basis for qualitative analysis.

Why REU: REU has provided me with an amazing opportunity to work closely with professors and graduate students to participate in the work they do on a daily basis. I hope to pursue a career in academia and being able to spend a semester in the shoes of that position was extraordinary.

QUINN O’BRIEN BBA CANDIDATE CLASS OF 2019 MENTORED BY DR. TARA RADIN FINANCE AND SPANISH LITERATURE

Reviewing the Connection Between Business Ethics and Corporate Law Description: The purpose of our research was to explore the connection between stakeholder thinking in business and how stakeholders and other stockholders are treated in the context of corporate law. We looked at both business situations and law cases.

Outcomes: -

Worked one-on-one with faculty member to find out how research is done Paper (co-authored!) being submitted to scholarly academic conference Opportunity to present paper Possibility that final paper will be published in scholarly academic journal

Industry Impact: The impact of this paper is more toward the field of business. Not a lot of practitioners read scholarly papers. But this paper has a possibility of influencing the business ethics conversation.

Why REU: I participated in REU to find out how research is done and to work closely with a faculty member. It was fascinating to see research process from beginning to end, how ideas begin, where research begins and how information is collected. The writing was challenging – I got edited a lot – but it is neat to look back at where we began to see how far we got.

CAITLYN LEONG BA CANDIDATE CLASS OF 2019 MENTORED BY DR. LUIS BALLASTEROS ELLIOTT SCHOOL OF INTERNATIONAL AFFAIRS, SECURITY POLICY AND POLITICAL SCIENCE

Analyzing International Shocks & Their Impacts on Market Entry Description: Based on the idea that low-probability, high-consequence events such as natural disasters trigger changes in the affected markets’ status quo, this research project seeks to understand how aid given by firms or countries following a natural disaster might impact market entry decisions and the bilateral relationships between countries. My research focused on aggregating, cleaning, and analyzing data related to the economic impact of natural disasters between 1999 and 2017 and related aid donations from firms, governments, multilateral agencies, and private individuals.

Outcomes:

The creation of usable spreadsheets of relevant data for further analysis. Testable hypotheses regarding the relationships between natural disaster shocks, country relationships, and the liability of foreignness. The generation of one single database for use in the analysis phase of this research project.

Industry Impact: An understanding of how disaster aid may impact local perceptions of foreign businesses and countries will inform firms’ corporate social responsibility decisions. If there is a demonstrable causal link, managers can use this information to select new markets for expansion and may be able to affect foreign perceptions of their firm and product through targeted disaster aid. They may also be able to capitalize on favorable perceptions of their firm’s home country in a foreign market.

Why REU: The REU program has allowed me to conduct interesting research at the nexus between international business and international affairs. The REU program has also given me the opportunity to sharpen my existing research skills and develop new skills using Stata and Python for data aggregation and analysis.

BACCY & BS CANDIDATE CLASS OF 2020 MENTORED BY DR. JENNY ZHA GIEDT DEPARTMENT OF ACCOUNTANCY ACCOUNTING & ECONOMICS

AMANDA DE GUZMAN Analyzing the Economic Effects of Strategic Alternatives Announcements Description: The term strategic alternatives refers to a company exploring the potential sale or merger of itself. According to the SECâ&#x20AC;&#x2122;s Form 8-K disclosure requirements, evaluating strategic alternatives is not considered a mandatory reportable event. Therefore, a potential target firm has great discretion as to whether publicly announce its intentions or find potential bidders silently. The economic effects of announcing strategic alternatives can impact stock prices, the M&A market, and future firm operations.

Outcomes:

Explored whether and how media rumors and termination announcements influence shareholder value Collected financial data using business research database services Merged datasets using statistical software packages Analyzed stock buybacks and equity sale transactions to gain a better understanding of the M&A deal process

Industry Impact: The consequences of announcing strategic alternatives directly affect managers and their financial and legal advisors. By publicly announcing strategic alternatives, a firm aims to increase the number of potential acquirers in hopes of generating the highest takeover premium. Understanding the effects of strategic alternatives announcements can benefit potential acquirers and market participants who encourage the sale of companies. Hedge funds also use certain investment strategies to speculate the successful completion of mergers and acquisitions.

Why REU: I have considered pursuing a career in business academia and joined the REU Program to gain a better understanding of the research process. Conducting research has enhanced my knowledge of various accounting and finance topics, and I have been able to employ skills related to econometrics and critical thinking. Participating in the REU Program has allowed me to build relationships with faculty and solidify my decision to pursue an accounting PhD.

DAKOTA SINDER BBA CANDIDATE CLASS OF 2019 MENTORED BY DR. LISA NEIROTTI DEPARTMENT OF TOURISM STUDIES SEHM CONCENTRATION, NUTRITION MINOR

Reviewing Quantitative & Qualitative Factors of Tourist Experience at the FIFA World Cup Description: Analyzed data collected at the 2010, 2014, and 2018 World Cup tournaments. Data examined include tourist spending habits, demographic data, event satisfaction, sponsor recognition, lifestyle choices, and other variables. Results from this research project intend to identify relationships between different factors that contribute to tourist expenditure and impression of the event/destination.

Outcomes: -

Analyze consumer expenditure trends Identify contributing factors to event satisfaction Determine economic impact of the World Cup on host destinations Consider and determine underlying reasons for consumer choices

Industry Impact: Through the growing number of mediums and increased competition in entertainment and tourism, understanding consumers has become paramount to all players in the industry. The FIFA World Cup is no exception to this trend as this research study aims to provide deeper insight into the components that maximize value for both consumers and the host destination.

Why REU: REU has been a great opportunity for me to develop analytical skills outside of the classroom. As a person who is not the strongest in statistics or analytics, this opportunity has given me hands on experience to learn through doing. Additionally, the data set and goal of this research project has corresponded perfectly with my own career interests and goals, which has been a nice added bonus.

JUNO LI BS CANDIDATE CLASS OF 2020 MENTORED BY DR. LUIS BALLESTEROS THE GLOBAL SCOPE LAB, DEPARTMENT OF INTERNATIONAL BUSINESS FINANCE STATISTICES

The Effects of Uncertainty Shocks on Entrepreneurship Description: The effects of uncertainty shocks on entrepreneurship are unknown, On the one hand, uncertainty shocks are associated with prominent levels of business mortality. The Federal Emergency Management Agency suggests that business activity declines even in countries not directly hit by a disaster due to economic interdependencies. On the other hand, other studies suggest that uncertainty shocks may be beneficial to entrepreneurship. Building off the idea of destructive creation, scholars have argued that uncertainty shocks may challenge established incumbents and open up opportunities for new business creation and radical innovation.

Outcomes: -

We are in the process of collecting data of natural disasters and business creation. The research is expected to be done in 2019.

Industry Impact: This project seeks to resolve the debate through novel evidence on the relationship between uncertainty shocks, risk preferences, and entrepreneurship. We intend to explore three related research questions: a) how do uncertainty shocks affect both firm failure and founding, and therefore the overall level of entrepreneurship? b) how these effects differ across sub-populations of entrepreneurial firms? and c) what role do changing risk preferences play in driving these effects? Additionally, we are hoping to help the industry understand the business patterns related to uncertainty shocks, especially natural disasters.

Why REU: REU is a great community connects professors and students who share the same interests together. It really encourages students who are interested in research to get more real-life experience. In this amazing community, students share different projects which helped me open my mind and be more aware of the newest research topics.

BA CANDIDATE CLASS OF 2020 MENTORED BY LUIS BALLESTEROS CENTER FOR INTERNATIONAL BUSINESS EDUCATION AND RESEARCH, INTERNATIONAL BUSINESS / DATA ANALYTICS // SUSTAINABILITY

ROMAN VELLANTE GLOBAL SCOPE LAB (GLOB~S) Description: My time at GLOB~S consisted of web development and data research. I focused on formulating an accessible platform that connected GWSB, GLOB~S, and anyone who wanted access to our research. The web development process was collaborative and mostly involved HTML and CSS. I also researched data visualization and mapping programs such as ARCGIS, Tableau, and Stata for the research fellows to utilize. Each of the programs were benchmarks against each other and their specific advantages are being applied to future research. While I am abroad I will continue to run the website, and assist with research on firm internationalization and risk mitigation.

Outcomes: -

Enhanced my understanding of web development and interface programming. Collaborated with a wonderful and diverse team of students. Expanded my knowledge on research methods applied to firm internationalization. Fostered relationships with knowledgeable mentors in the CIBER program.

Industry Impact: On top of developing a website that provides meaningful data and easy access to professionals, I am hoping to continue my research abroad. I want to expand my knowledge on how natural disasters and uncertainty shocks impact new ventures and entrepreneurship. I am hoping to identify patterns and corollary data that can be projected in a simplified and effective manner.

Why REU: REU allows students to chase their passions while taking classes at school. REU has given me the chance to thrive in an environment where other students share similar goals and interests. More importantly, the relationships I have made with the professors involved in this process have been unforgettable. Researching and cultivating meaningful data on firm internationalization with talented peers has been a rewarding experience that could have only been achieved through REU at GW.

RUIFENG WANG BBA CANDIDATE CLASS OF 2020 MENTORED BY DR. ANNA HELM CENTER FOR INTERNATIONAL BUSINESS EDUCATION AND RESEARCH, INFORMATION SYSTEMS & INTERNATIONAL BUSINESS, ECONOMICS

Reviewing GW FYDP Survey Results & Analyzing Relationships and Influencers Description: The Teagle Grant research works on literature review relating to liberal arts and business integration, along with data analysis of FYDP surveys conducted from 2016 to date. The research helps to support and strengthen liberal arts education, which it is seen as fundamental to meaningful work, effective citizenship, and a fulfilling life. The aim is to serve as a catalyst for the improvement of teaching and learning in the arts and sciences while addressing issues of financial sustainability and accountability in higher education.

Outcomes:

Industry Impact: This research provides a reference for GW to understand freshmen’s performances regarding their major-minor decision making. It also provides strong support for GW to observe the relationship between declarations of business concentrations and liberal arts courses and how different influencers engage in students’ decision making. Furthermore, it serves as a reference for FYDP classes and GW to make curriculum improvement at Business school in the future.

Why REU: I joined the REU program because first I want to apply the data analysis skills I learnt from class such as Excel, R and Tableau to the hands-on projects to get real practices and experience. Second, as a junior who experienced major and minor declaration, I want to help GW freshmen to make their declarations more efficiently and help GW to meet students’ needs in terms of liberal arts classes and business concentrations through concrete data.

KATE VAN HORN BBA CANDIDATE CLASS OF 2019 MENTORED BY DR. STUART LEVY DEPARTMENT OF MANAGEMENT SPORTS, EVENTS, AND HOSPITALITY CONCENTRATION & PUBLIC HEALTH MINOR

Analyzing Effectiveness of Large-scale Events Based on Consumer Feedback Description: During this past semester, Dr. Stuart Levy and I worked on developing a framework for which producers of large-scale events can evaluate the success of their events. This framework was developed by referencing sites such as TripAdvisor, Yelp, and other online review sites. By focusing on reoccurring cultural events such as the Macyâ&#x20AC;&#x2122;s Thanksgiving Day Parade in New York City, Jazzfest in New Orleans, and the Rose Bowl Parade in California, we highlighted the major factors of the events that were commented on by online reviewers. By developing this metric and applying it to various events, we were able to discern what consumers valued most when attending an event.

Outcomes: -

Developed a framework to identify key aspects of event production. Applied the framework to various events, using a numeric evaluation system to evaluate the response of consumers to the event. Reviewed reoccurring large-scale events to identify strengths and weaknesses of event planning.

Industry Impact: The influence of the internet is becoming increasingly important in the world of hospitality due to the nature of online review sites. Consumers can directly share their experiences, whether good or bad, on websites such as TripAdvisor. This affects many event planners, as events can no longer disguise disorganization with clever marketing techniques. By evaluating their events with the developed framework, event planners can highlight areas of their event that are successful or those aspects which need to be improved.

Why REU: Being wholeheartedly involved in the GWSB community is one of my most valued experiences throughout my undergraduate career at GW. REU has allowed me to further integrate into the community, not only by interacting with other motivated students, but by developing a relationship with a faculty member. I highly encourage anyone who is interested in taking a more hands-on approach to learning about the world of business to apply for the REU program.

BA CANDIDATE CLASS OF 2019 MENTORED BY DR. LISA NEIROTTI DEPARTMENT OF SPORTS, EVENTS, AND HOSPITALITY SPORTS MANAGEMENT, INTERNATIONAL AFFAIRS

ZACH SLAUGHTER Reviewing Previous FIFA World Cup Economic Impact and Data Description: The project takes data from surveys administered by students to patrons at previous FIFA World Cup. The years of the World Cup data include 2010 in South Africa, 2014 in Brazil, and most recently 2018 in Russia. The data that we are analyzing covers every spending that patrons complete at the World Cup. The questions range from how much spent on flights, how much did you spend on food, how many nights you stayed, and so on. The data we have shows the economic impact mega sporting events have on a host city economy.

Outcomes:

We have found that there is data that proves mega sporting events increase spending in the host city. The data provided allows us to have a constant variable being FIFA World Cup. The data provided has given us the ability to compare the different years and the spending habits.

Industry Impact: The industry impact of mega events or mega sporting events is very significant. Events have proven to benefit host economies and spending that would not be there if it were not for the event. It is important to the industry because cities now are bidding and giving it their best efforts to become a host city for these events. These sporting events create spending that would not normally be there.

Why REU: REU is a great program that has given me and many other students the opportunity to work alongside professors. This is a great opportunity to learn from the professor outside of the traditional classroom setting. REU encourages critical thinking and requires the skills that should benefit me later down professionally.

BBA CANDIDATE CLASS OF 2022 MENTORED BY DR. LIANG TAN B.S. IN FINANCE AND ECONOMICS

RUIXUAN WANG Reviewing and Analyzing Publicly Traded Firms’ Non-GAAP Performance Measure Description: In this research, Dr. Tan is aiming to analyze how the non-GAAP performance measures of publicly traded firms will influence the company in the future. To start the analysis, Dr. Tan and I collected Non-GAAP Performance Measures, which we only focus on Bank EBITDA in this study, from the companies’ 10Ks and 10Qs. As a research assistant, I helped Dr. Tan with collecting Bank EBITDA and relevant data to an excel spreadsheet.

Outcomes: -

Collected hundreds of public traded firm’s Bank EBITDA and relevant information.

Analyzed the reason of having the Bank EBITDA.

Deliberated the impact of having Bank EBITDA.

Industry Impact: This study will allow managers, investors, and public traded companies to better understand the influence of the Non-GAAP Performance (Bank EBITDA) in the future performance of the company. The outcomes will also give investors a measurement to invest companies, and company decision-makers to make decisions about the Bank EBITDA.

Why REU: I came to GWSB as a student who interested in the business world and is passionate about learning accounting and finance. Research is one of the best ways to learn during practice. REU provides undergraduate students an opportunity to research with a GWSB professor one to one, so students could feel free to reach out to their professor without any concern. REU not only gives me a chance to study with a professor and to learn the most advanced knowledge in the related area but also allows me to dig deeper into my potential career. BA CANDIDATE CLASS OF 2020

MENTORED BY: PROFESSOR MIN HWANG BS CANDIDATE CLASS OF 2020 DOUBLE MAJOR IN FINANCE AND JAPANESE

KIRAN KITTUR Board Diversity and Firm Value Description: As of late, the SEC and advocates have emphasized the value of racial, ethnic, and gender diversity among firm directors, nominees, and executive officers, and supported their stance with economic and market rationales. This project aims to take into account past firm board data to inquire whether board diversity is in fact correlated with firm value. This project hypothesizes that board diversity is not a one-size-fits-all solution, and that board diversity is not significantly correlated with firm value.

Expected Outcomes: -

Firms experiencing decreases in board diversity to less than postulated optimal board diversity will not be significantly correlated with decreases in firm value. Firms experiencing increases in board diversity to more than postulated optimal board diversity will not be significantly correlated with increases in firm value.

Industry Impact: Many argue and push for increased firm board diversity with underlying economic and market rationales. Recently, legislation has been considered by both Congress and the SEC to promote board diversity using similar rationales. This legislation could affect firms and their values should board diversity be shown to not be significantly correlated with firm value.

Why REU: The REU program has allowed me to gain valuable insight on financial research practices to evaluate my own future academic plans.

Faculty Testimonials Dr. Lisa Delpy Neirotti Helping the students connect the dots between research and practice and seeing the excitement in their eyes when it all comes together. It is also nice to see the students technical skills improve and with this conďŹ dence in using excel and other software.

Dr. Stuart Levy I enjoyed the opportunity to partner with a bright, enthusiastic undergraduate student in exploring and examining the adventure traveler experience. I valued our discussion which emerged from the research ďŹ ndings.

Dr. Lynda Maddox The REU program has been invaluable to me and my best undergraduate students. Last year, two students worked on a project doing research into the market for cranberries in the US. It helped GWâ&#x20AC;&#x2122;s Capitol Advertising team to compete well in the National Student Advertising Competition and exposed the students to how a nationwide research project works.

Dr. Sanjay Patnik I really enjoyed working with my REU students, because of their amazing energy and enthusiasm. I think the REU program is one of the best ways to engage students and facilitate facultystudent interactions, and it provides tremendous value to the GW community. Another aspect I really enjoyed was the close mentoring experience with my students as it is a much more productive learning environment than a large classroom.

2018-2019 Faculty Mentors

We would like to give a special thank you to the following staďŹ&#x20AC; at the GWSB OďŹ&#x192;ce of Undergraduate Programs for their support and contributions to this editorial.

Dr. Mirasol Espanola- Executive Director Rachael Forker- Assistant Director Dania Castro- Program Associate Jonathan Mendez- Graduate Development Specialist Mariette Gervitz- Marketing Assistant Kyanna Spaulding- Marketing Assistant