Graduation Year
2025
Date of Submission
4-2025
Document Type
Open Access Senior Thesis
Degree Name
Bachelor of Arts
Department
Economics
Reader 1
Julio Garin
Terms of Use & License Information
Rights Information
2025 Gabriel Yang
Abstract
Based on a collected dataset of ski resort ownership records and localized climate data spanning 1920-2020, I analyze how environmental volatility affects firm-level outcomes. Using multinomial logit regression models, I examine whether changes in snowfall, precipitation, and temperature are associated with higher probabilities of acquisition, particularly by large conglomerates. Preliminary results suggest that climate volatility, specifically around minimum and maximum temperature, is becoming increasingly important in affecting ownership transfers. Resorts with higher volatility in warm-day temperatures are less likely to be acquired by both conglomerates and non-conglomerates, while cold volatility has become less important over time as snowmaking capabilities are increasing. Overall, the findings indicate that climate volatility, rather than average climate levels, are more critical to influencing ownership transfers, as heterogeneity across the ski resort industry results in slightly different adaptation strategies.
Recommended Citation
Yang, Gabriel, "Climate Change and Ski Resort Ownership Consolidation" (2025). CMC Senior Theses. 3965.
https://scholarship.claremont.edu/cmc_theses/3965
