Stander Symposium abstract book - University of Dayton

ORAL PRESENTATIONS
Buy, Sell or Hold: An In-Depth Look at the Flyer Fund Security Selection Process
Presenter(s): Erica M Kleinman, Natalie J McGregor, Corey R Pryor, Kelsey E Stroble
Advisor(s): Robert D Dean, John E Rapp
Economics and Finance
Independent Research
11:00 AM-12:00 PM
Miriam Hall - 118 (Davis Center)
The Flyer Fund holds on average 55 mid to large-cap stocks, each of which undergoes a stringent fundamental evaluation with periodic updates.
The purpose of this presentation is to provide an in-depth look at the Flyer Fund stock selection process, including the identification of the key fundamental
factors that determine if a stock is selected or not for the Flyer Fund. Also included in the presentation is the identification of the primary
sources of financial information/data used by the security analysts responsible for buying or selling stocks. Stocks currently under consideration for
the Flyer Fund will be used to explain the selection process.
The U.S. Economic Outlook for 2012 and Flyer Fund Sector Weights
Presenter(s): David P Beyerle, Michael R Groff, J Ross Hallman, Tyler C Hujik
Advisor(s): Robert D Dean, John E Rapp
Economics and Finance
1:00 PM-2:00 PM
Independent Research
Miriam Hall - 118 (Davis Center)
The Flyer Investments Fund uses a top-down investment approach to determine which of the 10 S&P 500 Sectors it plans to overweight, underweight,
or marketweight. The purpose of the presentation is to describe this top-down approach and how it relates to past, present, and projected
future economic conditions in the U.S.. Topics to be discussed are (1) U.S. Economic Indicators, (2) Sector Weights, and (3) Economic Outlook
Analysis.
ROA and ROE as Determinants of Quality in Portfolio Management
Presenter(s): Joseph J Capka
Advisor(s): Robert D Dean, John E Rapp
Economics and Finance
2:20 PM-2:40 PM
Honors Thesis Miriam Hall - 213
Does Quality Matter? Since 1956, Standard & Poorâs has offered a rating system that differentiates stocks by quality, known as its Quality Rankings.
From S&P’s perspective, quality is a function of the growth and stability of earnings and dividends over time. While a number of past studies
have concluded that stocks with a high quality ranking tend to outperform the market, some studies have identified variability among rankings,
which suggests that a more complete set of ranking criteria is needed. In my study, I have tested the hypothesis that both Return on Equity (ROE)
and Return on Assets (ROA), when considered as criteria for portfolio construction, generate additional performance above the S&P 500. Through
an analysis of hypothetical portfolios of quality-ranked stocks, I have concluded that both ROE and ROA are additional determinants of quality
and hence portfolio performance.
Do Dividends Matter: An empirical analysis of the impact of dividends on portfolio stock
selection, portfolio weights, and portfolio returns for S&P 500 stocks over the period
2005-2010
Presenter(s): Gregory J Castell
Advisor(s): Robert D Dean, John E Rapp
Economics and Finance
2:40 PM-3:00 PM
Honors Thesis Miriam Hall - 213
Because of a growing number of dividend-focused portfolios today, the critical issue is whether or not these types of portfolios create alpha.
Therefore, the purpose of this study is to determine if a portfolio of stocks focused on dividends can create alpha (i.e. excess returns) in both declining
and rising stock markets. Holding constant such key factors as valuation, earnings growth, and profitability, at the margin, I have assumed
the critical dividend factors in determining alpha are dividend yield, dividend growth, and dividend payout ratio.To test the hypothesis that one
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