Business and Economics

PROJECT 1: EXPLORING AND DEVELOPING FINANCIAL LITERACY TOOLD FOR AFRICAN-AMERICAN ADULTS

PROJECT 2: EVALUATING INNOVATIVE FINANCIAL LITERACY TRAINING PROGRAMS TO ENHANCE FINANCIAL WELLNESS IN AFRICAN AMERICAN COMMUNITIES

Themes Economics, Financial Literacy, Simulation
Faculty Member Dr. Darrell Burrell
Academic School
School of Business
Title Project #1
Exploring and Developing Financial Literacy Tools for African-American Adults
Description Project #1 The connection between financial literacy and financial wellness is well-documented, and this is true among African Americans as well. For example, those with higher financial literacy tend to save for retirement, have non-retirement savings, and manage their debt better overall. They are also less likely to be financially fragile. This research addresses the critical issue of economic disparity between African American and White households, specifically investigating the most essential content that should be incorporated into financial literacy training tailored for African American populations. Despite substantial economic contributions, African American households significantly lag behind White counterparts in financial wellness indicators, including net worth, household income, and student loan debt. In 2022, the average net worth of Black families was $44,900 compared to $285,000 for White families, highlighting severe financial inequity.
Existing literature establishes a strong correlation between financial literacy and financial wellness, emphasizing improved savings behaviors, better debt management, and reduced financial fragility among individuals with higher financial literacy levels. Thus, enhancing financial literacy emerges as a pivotal strategy for addressing economic disparities. The primary research question guiding this investigation is: What critical content should financial literacy training programs include to effectively address the financial wellness gaps experienced by African American households? Findings from this research will be disseminated through publication in a peer-reviewed academic journal to influence both scholarly understanding and practical interventions. The approach would be to interview subject matter experts on financial literacy to identify the most effective educational content.
Title Project #2 Evaluating Innovative Financial Literacy Training Programs to Enhance Financial Wellness in African American Communities
Description Project #2 Despite significant economic contributions by African Americans, considerable disparities persist in financial wellness between African American households and their White counterparts in the United States. According to the Federal Reserve’s Survey of Consumer Finances (2022), the average net worth of a Black family was approximately $44,900, compared to $285,000 for White families. This pronounced disparity is mirrored across multiple financial indicators including median household income, net worth, and student loan debt burdens. While the reasons for these gaps are multifaceted, financial literacy emerges as a critical determinant influencing financial wellness outcomes.
The purpose of this research is to investigate the essential components necessary for successful financial literacy training programs tailored to African American communities, specifically focusing on innovative technological and pedagogical approaches. The research seeks to answer the specific question: What are the most critical content elements and innovative methods, particularly those involving technology or interactive approaches, currently included in successful financial literacy training programs? The results of this study will provide insights into best practices and effective strategies that enhance financial literacy and ultimately improve financial outcomes among African American populations. This work will contribute to existing scholarship and practical applications by offering a rigorous analysis of effective strategies, ultimately aiming to benchmark best practices that could inform policy, community interventions, and future research. The outcomes of this research will be disseminated through peer-reviewed academic publications.
Remote Participation? Yes
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MERGERS AND ACQUISITIONS AND ANALYSTS FORECASTS

Themes Analyst Forecasts, M&A Decision-Making, Data Processing
Faculty Member Dr. Noor Hashim
Academic School
School of Technology and Innovation
Description Acquirers often overestimate the value of target firms in merger and acquisition (M&A) deals. Acquiring managers have strong incentives to complete deals, which leads them to overpay. The project investigates whether analyst forecasts of target firm cash flows help to reduce acquisition premiums and reduce the likelihood that managers engage in value-destroying acquisitions.
Objective: Examine if target cash flow forecasts can benefit real corporate investment decisions. The contributes to the limited research on the usefulness of analyst cash flow forecast and the use of analysts’ forecasts in M&As.
The work needed to be completed during the summer: cleaning and processing data, running code using Stata to produce tables and updating tables for journal submission.
Remote Participation? Yes
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PROJECT 1: ORAL HEALTH DISPARITIES AMONG OLDER ADULTS WITH DISABILITY

PROJECT 2: ANALYSES OF SECONDARY HEALTHCARE DATABASE

Themes Healthcare, Older Adults,
Faculty Member Dr. Uma Kelekar
Academic School
School of Business
Title Project #1
Oral health disparities among older adults with disability
Description Project #1 Among US older adults (>=65 years), multiple overlapping challenges, such as progressive aging, increasing comorbidities, and lack of universal dental coverage, restrict routine and/or timely dental-care visits. The presence of one or more disabilities may further exacerbate access-related dental care disparities among the 65+. The goal of this project therefore will be to do a comprehensive survey of the literature using various databases and preparing a summary of the key findings from peer-reviewed studies/reports examining oral healthcare disparities among the US older adult population, particularly by disability status.
Title Project #2 Analyses of secondary healthcare database
Description Project #2 In this project, a student with the right data analyses’ skills, will have the opportunity to work on a national-level falls prevention program database and analyze large survey data. The goal of this project will be to assess the participation rates of the different sub-groups of populations (such as racial ethnic minorities) across the US and examine the effectiveness of the various programs by demographic along with neighborhood characteristics. In addition to the data analyses, the selected student will also be responsible for reviewing the literature and helping with the preparation of a manuscript with the rest of the research team.
Remote Participation? Yes
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RETIREES’ WELL-BEING

Themes Older Adults, Retirement, Social Adjustment
Faculty Member Yeeun (Rachel) Choi
Academic School
School of Business
Description Retirement is a major life transition that deeply influences both personal well-being and social engagement. In this study, we aim to explore the diverse experiences of retirees by conducting detailed interviews and using NVivo software to analyze the qualitative data. This method will help us uncover key themes and insights about how retirees adjust to this new phase of life.
The goal of the present research is to gain a richer understanding of the subjective and social dimensions of retirement, contributing to the broader field of aging and retirement research. We invite anyone interested in these topics—and in learning effective techniques for handling qualitative data—to join our project. The findings from our research will be used to prepare an abstract for conference presentations and to write a manuscript for submission to academic journals in the field of organizational behavior/psychology.
Remote Participation? Yes
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