b'Is the Eurozone an Optimal Currency Area?Sara M. Tucker, Department of Economics and FinanceFaculty Sponsor: Cynthia Royal Tori, PhD, Department of Economics and FinanceThis paper examines whether the eurozone is an optimal currency area. An optimal currency area is a region, where countries that engage in trade, allow labor mobility, and experience similar macroeconomics shocks, adopt a common currency. The expectations are that trade will increase because transaction costs and exchange rate risks are reduced, and prices across the region will converge over time. Since its introduction in 1999, twenty-three countries have adopted the euro. Using monthly data over a time period that includes the financial crisis, the real exchange rate variability and the adjustment times for European Union eurozone countries are estimated and compared. Countries with high variability and slow adjustment times experience longer periods of disequilibrium leading to distortions in the markets. For these countries, the eurozone is not an optimal currency area. For the countries with low variability and fast adjustment times, the results support eurozone membership.Role of Corporate Governance Theories in Long-Term Strategic Decision MakingSuzanne Smith, Department of Management and Healthcare AdministrationFaculty Sponsor: Dr. Matthew Kolakowski, Department of Management and Healthcare AdministrationGovernance research has examined how the board of directors make broad organizational decisions to improve firm performance applicable to any industry. These decisions necessitate that the board evolve to meet the changing demands and disruptive forces of their industry. Situational corporate variables (external opinion, governance history, board diversity, combined board capital, CEO succession) all direct planning and initiating of proposed financial improvement in fast-changing industries. This review of twelve managerial meta-analyses on the utility of two governance theories will isolate which situational corporate characteristics incentivize governing boards to take preemptive measures to mitigate possible negative organizational consequences. How the application of two broad corporate governance theories-agency and resource dependence theory or the convergence of utilizing both theories - influences performance recovery and resource allocation is analyzed. Best practices tailored to healthcare governance are recommended. It highlights the need to carefully study and judge internal board processes when gauging immediate priorities.19'