The Adequacy of Wildlife Management on an Endangered Species: A Design Template for Ecosystems Management in Alabama

The Alabama beach mouse (ABM) was listed an an endangered species in 1985. The ABM has been cited as being minimally managed since its listing. The Sierra Club points out the lack of Primary Consituent Elements (PCE) that are required by the Endangered Species Act of 1973. While traditional habitat status is mired in legal and bureaucratic delays, effective management remains less than optimal. Ecosystem management presents with it, new observable and technological tools that may present a panacea in the ABM's paradox. This Capstone looks at the possible implementation of an ecosystems management alternative in aiding the persistence of a small isolated and endangered species.

Parametric & nonparametric approaches to event studies: an application to a hotel’s market value

The main objective of this paper is twofold: on the one hand, to analyse the impact that the announcement of the opening of a new hotel has on the performance of its chain by carrying out an event study, and on the other hand, to compare the results of two different approaches to this method: a parametric specification based on the autoregressive conditional heteroskedasticity models to estimate the market model, and a nonparametric approach, which implies employing Theil’s nonparametric regression technique, which in turn, leads to the so-called complete nonparametric approach to event studies. The results that the empirical application arrives at are noteworthy as, on average, the reaction to such news releases is highly positive, both approaches reaching the same level of significance. However, a word of caution must be said when one is not only interested in detecting whether the market reacts, but also in obtaining an exhaustive calculation of the abnormal returns to further examine its determining factors.