773 resultados para Empirical-analysis


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The aim of this paper is to examine the relationship between the factor endowment and the pattern of intra-industry trade. Our empirical analysis relates to Hungary’s intra-industry trade in agri-food products with 26 member states of the EU over the period 1999-2010. Estimations reject the comparative advantage explanation of vertical intra-industry trade and provide partial support the prediction of Flam and Helpman model. Findings highlight that nature of factor endowments play also important role in explanation of vertical intra-industry trade. Other variables like market size and distance confirm the theoretical expectations. In addition, trade with new member states positively, whilst the EU accession ambigouosly influence the share of vertical IIT.

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A tanulmány az egyetemi hallgatók, mint a jövő potenciális tudásintenzív vállalkozóinak sajátosságát hivatott vizsgálni, empirikus úton. A kutatás feltáró jellegű, hiszen igen keveset tudni általában az egyetemi hallgatók, és különösen a Szegedi Tudományegyetem egyetemi hallgatóinak vállalatalapítási motivációról, aktivitásáról és az egyetem ezzel kapcsolatos szerepéről. A vizsgálatok két fő cél köré összpontosulnak: a Szegedi Tudományegyetem nappali tagozatos hallgatóinak vállalatalapítási aktivitását feltárni, valamint a vállalatindításhoz szükséges ismereteket feltérképezni. A tanulmány első részében a szerzők a kérdőíves megkérdezés eredményeit ismertetik, mely keretében 840 főt kérdeztek meg a hallgatói vállalkozásalapítási aktivitás feltárása érdekében. Ezt követően húsz, már hallgató korában vállalkozást alapító személlyel történő mélyinterjúk eredményeit mutatják be, különös tekintettel arra, milyen specialitásokkal bírnak azon vállalkozók, akik már hallgatóként belevágtak egy vállalkozás elindításába. _______ Present paper provides an empirical analysis of the characteristics of university students as potential knowledgeintensive entrepreneurs of the future. The authors’ research is explorative since the knowledge of university students and especially of the students of the University of Szeged is scarce with regard to their entrepreneurial motivations, activities and the influence of the university. The authors set two fundamental objectives: first, to explore the entrepreneurial activities of the full-time students of the University of Szeged; and second, to map the knowledge necessary for starting a business. In the first part of the paper they demonstrate the results of an empirical survey based on 840 questionnaires that aimed at the exploration of students’ entrepreneurial activities.

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The thesis explores Mario Vargas Llosa's Historia de Mayta in light of recent studies of Latin America's new historical novel (Menton, Juan-Navarro) and in connection with contemporary literary theory (Waugh, Stonehill) and new trends in the philosophy of history (White, Foucault). In my study, I focus on three major levels of analysis: (1) significant events in Peruvian history to which the novel alludes; (2) biographical elements that strongly evoke the lives of Ernesto "Che" Guevara, Jacinto Renteria, and Vargas Llosa himself; and (3) the self-referential devices that aim at questioning the validity of empirical analysis in both fiction and history. The allegorical dimension of the novel's view of modern Peruvian politics, its biographical component, and the self-consciousness of its historiographic approach make of Historia de Mayta both a metahistory of Peru and a biographical metafiction. The thesis ultimately reveals the problematic borderline between fiction and reality, the novel and history.

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This dissertation examines whether-there exists financial constraints and, if so, their implications for investment in research and development expenditures. It develops a theoretical model of credit rationing and research and development in which both are determined simultaneously and endogenously. The model provides a useful tool to examine different policies that may help alleviate the negative the effect of financial constraints faced by firms.^ The empirical evidence presented deals with two different cases, namely, the motor vehicle industry in Germany (1970-1990) and the electrical machinery industry In Spain (1975-1990).^ The innovation in the empirical analysis is that it follows a novel approach to identify events that allow us to isolate the effect of financial constraints in the determination of research and development.^ Further, empirical evidence is presented to show that in the above two cases financial constraints affect investment in physical capital as well.^ The empirical evidence presented supports the results of the theoretical model developed in this dissertation, showing that financial constraints negatively affect the rate of growth of innovation by reducing the intensity of research and development activity. ^

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The first essay developed a respondent model of Bayesian updating for a double-bound dichotomous choice (DB-DC) contingent valuation methodology. I demonstrated by way of data simulations that current DB-DC identifications of true willingness-to-pay (WTP) may often fail given this respondent Bayesian updating context. Further simulations demonstrated that a simple extension of current DB-DC identifications derived explicitly from the Bayesian updating behavioral model can correct for much of the WTP bias. Additional results provided caution to viewing respondents as acting strategically toward the second bid. Finally, an empirical application confirmed the simulation outcomes. The second essay applied a hedonic property value model to a unique water quality (WQ) dataset for a year-round, urban, and coastal housing market in South Florida, and found evidence that various WQ measures affect waterfront housing prices in this setting. However, the results indicated that this relationship is not consistent across any of the six particular WQ variables used, and is furthermore dependent upon the specific descriptive statistic employed to represent the WQ measure in the empirical analysis. These results continue to underscore the need to better understand both the WQ measure and its statistical form homebuyers use in making their purchase decision. The third essay addressed a limitation to existing hurricane evacuation modeling aspects by developing a dynamic model of hurricane evacuation behavior. A household's evacuation decision was framed as an optimal stopping problem where every potential evacuation time period prior to the actual hurricane landfall, the household's optimal choice is to either evacuate, or to wait one more time period for a revised hurricane forecast. A hypothetical two-period model of evacuation and a realistic multi-period model of evacuation that incorporates actual forecast and evacuation cost data for my designated Gulf of Mexico region were developed for the dynamic analysis. Results from the multi-period model were calibrated with existing evacuation timing data from a number of hurricanes. Given the calibrated dynamic framework, a number of policy questions that plausibly affect the timing of household evacuations were analyzed, and a deeper understanding of existing empirical outcomes in regard to the timing of the evacuation decision was achieved.

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The increase in the number of financial restatements in recent years has resulted in a significant decrease in the amount of market capitalization for restated companies. Prior literature did not differentiate between single and multiple restatements announcements. This research investigated the inter-relationships among multiple financial restatements, corporate governance, market microstructure and the firm’s rate of return in the form of three essays by differentiating between single and multiple restatement announcement companies. First essay examined the stock performance of companies announcing the financial restatement multiple times. The postulation is that prior research overestimates the abnormal return by not separating single restatement companies from multiple restatement companies. This study investigated how market penalizes the companies that announce restatement more than once. Differentiating the restatement announcement data based on number of restatement announcements, the results supported the non persistence hypothesis that the market has no memory and negative abnormal returns obtained after each of the restatement announcements are completely random. Second essay examined the multiple restatement announcements and its perceived resultant information asymmetry around the announcement day. This study examined the pattern of information asymmetry for these announcements in terms of whether the bid-ask spread widens around the announcement day. The empirical analysis supported the hypotheses that the spread does widen not only around the first restatement announcement day but around every subsequent announcement days as well. The third essay empirically examined the financial and corporate governance characteristics of single and multiple restatement announcements companies. The analysis showed that corporate governance variables influence the occurrence of multiple restatement announcements and can distinguish multiple restatements announcement companies from single restatement announcement companies.

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There is growing popularity in the use of composite indices and rankings for cross-organizational benchmarking. However, little attention has been paid to alternative methods and procedures for the computation of these indices and how the use of such methods may impact the resulting indices and rankings. This dissertation developed an approach for assessing composite indices and rankings based on the integration of a number of methods for aggregation, data transformation and attribute weighting involved in their computation. The integrated model developed is based on the simulation of composite indices using methods and procedures proposed in the area of multi-criteria decision making (MCDM) and knowledge discovery in databases (KDD). The approach developed in this dissertation was automated through an IT artifact that was designed, developed and evaluated based on the framework and guidelines of the design science paradigm of information systems research. This artifact dynamically generates multiple versions of indices and rankings by considering different methodological scenarios according to user specified parameters. The computerized implementation was done in Visual Basic for Excel 2007. Using different performance measures, the artifact produces a number of excel outputs for the comparison and assessment of the indices and rankings. In order to evaluate the efficacy of the artifact and its underlying approach, a full empirical analysis was conducted using the World Bank's Doing Business database for the year 2010, which includes ten sub-indices (each corresponding to different areas of the business environment and regulation) for 183 countries. The output results, which were obtained using 115 methodological scenarios for the assessment of this index and its ten sub-indices, indicated that the variability of the component indicators considered in each case influenced the sensitivity of the rankings to the methodological choices. Overall, the results of our multi-method assessment were consistent with the World Bank rankings except in cases where the indices involved cost indicators measured in per capita income which yielded more sensitive results. Low income level countries exhibited more sensitivity in their rankings and less agreement between the benchmark rankings and our multi-method based rankings than higher income country groups.

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Prior research suggests that book-tax income differences (BTD) relate to both firms' earnings quality and operating performance. In this dissertation, I explore whether and how financial analysts signal the implications of BTD efficiently. This dissertation is comprised of three essays on BTD. The three essays seek to develop a better understanding of how financial analysts utilize information reflected in BTD (derived from the ratio of taxable income to book income). The first essay is a review and discussion of prior research regarding BTD. The second essay of this dissertation investigates the role of BTD in indicating the consensus and dispersion of analyst recommendations. I find that sell recommendations are positively related to BTD. I also document that analyst coverage has a positive effect on the standard deviation of consensus recommendations with respect to BTD. The third essay is an empirical analysis of analysts' forecast optimism, analyst coverage, and BTD. I find a negative association between forecast optimism and BTD. My results are consistent with a larger BTD being associated with less forecast bias. Overall, I interpret the sum of the evidence as being consistent with BTD reflecting information about earnings quality, and consistent with analysts examining and using this information in making decisions regarding both forecasts and recommendations.

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Expected damages of environmental risks depend both on their intensities and probabilities. There is very little control over probabilities of climate related disasters such as hurricanes. Therefore, researchers of social science are interested identifying preparation and mitigation measures that build human resilience to disasters and avoid serious loss. Conversely, environmental degradation, which is a process through which the natural environment is compromised in some way, has been accelerated by human activities. As scientists are finding effective ways on how to prevent and reduce pollution, the society often fails to adopt these effective preventive methods. Researchers of psychological and contextual characterization offer specific lessons for policy interventions that encourage human efforts to reduce pollution. This dissertation addresses four discussions of effective policy regimes encouraging pro-environmental preference in consumption and production, and promoting risk mitigation behavior in the face of natural hazards. The first essay describes how the speed of adoption of environment friendly technologies is driven largely by consumers' preferences and their learning dynamics rather than producers' choice. The second essay is an empirical analysis of a choice experiment to understand preferences for energy efficient investments. The empirical analysis suggests that subjects tend to increase energy efficient investment when they pay a pollution tax proportional to the total expenditure on energy consumption. However, investments in energy efficiency seem to be crowded out when subjects have the option to buy health insurance to cover pollution related health risks. In context of hurricane risk mitigation and in evidence of recently adopted My Safe Florida Home (MSFH) program by the State of Florida, the third essay shows that households with home insurance, prior experience with damages, and with a higher sense of vulnerability to be affected by hurricanes are more likely to allow home inspection to seek mitigation information. The fourth essay evaluates the impact of utility disruption on household well being based on the responses of a household-level phone survey in the wake of hurricane Wilma. Findings highlight the need for significant investment to enhance the capacity of rapid utility restoration after a hurricane event in the context of South Florida.

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The first essay developed a respondent model of Bayesian updating for a double-bound dichotomous choice (DB-DC) contingent valuation methodology. I demonstrated by way of data simulations that current DB-DC identifications of true willingness-to-pay (WTP) may often fail given this respondent Bayesian updating context. Further simulations demonstrated that a simple extension of current DB-DC identifications derived explicitly from the Bayesian updating behavioral model can correct for much of the WTP bias. Additional results provided caution to viewing respondents as acting strategically toward the second bid. Finally, an empirical application confirmed the simulation outcomes. The second essay applied a hedonic property value model to a unique water quality (WQ) dataset for a year-round, urban, and coastal housing market in South Florida, and found evidence that various WQ measures affect waterfront housing prices in this setting. However, the results indicated that this relationship is not consistent across any of the six particular WQ variables used, and is furthermore dependent upon the specific descriptive statistic employed to represent the WQ measure in the empirical analysis. These results continue to underscore the need to better understand both the WQ measure and its statistical form homebuyers use in making their purchase decision. The third essay addressed a limitation to existing hurricane evacuation modeling aspects by developing a dynamic model of hurricane evacuation behavior. A household’s evacuation decision was framed as an optimal stopping problem where every potential evacuation time period prior to the actual hurricane landfall, the household’s optimal choice is to either evacuate, or to wait one more time period for a revised hurricane forecast. A hypothetical two-period model of evacuation and a realistic multi-period model of evacuation that incorporates actual forecast and evacuation cost data for my designated Gulf of Mexico region were developed for the dynamic analysis. Results from the multi-period model were calibrated with existing evacuation timing data from a number of hurricanes. Given the calibrated dynamic framework, a number of policy questions that plausibly affect the timing of household evacuations were analyzed, and a deeper understanding of existing empirical outcomes in regard to the timing of the evacuation decision was achieved.

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The thesis explores Mario Vargas Llosa's Historia de Mayta in light of recent studies of Latin America's new historical novel (Menton, Juan-Navarro) and in connection with contemporary literary theory (Waugh, Stonehill) and new trends in the philosophy of history (White, Foucault). In my study, I focus on three major levels of analysis: 1) significant events in Peruvian history to which the novel alludes; 2) biographical elements that strongly evoke the lives of Ernesto "Che" Guevara, Jacinto Rentería, and Vargas Llosa himself; and 3) the self-referential devices that aim at questioning the validity of empirical analysis in both fiction and history. The allegorical dimension of the novel's view of modern Peruvian politics, its biographical component, and the self-consciousness of its historiographic approach make of Historia de Mayta both a metahistory of Perú and a biographical metafiction. The thesis ultimately reveals the problematic borderline between fiction and reality, the novel and history.

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The increase in the number of financial restatements in recent years has resulted in a significant decrease in the amount of market capitalization for restated companies. Prior literature does not differentiate between single and multiple restatements announcements. This research investigates the inter-relationships among multiple financial restatements, corporate governance, market microstructure and the firm's rate of return in the form of three essays by differentiating between single and multiple restatement announcement companies. First essay examines the stock performance of companies announcing the financial restatement multiple times. The postulation is that prior research overestimates the abnormal return by not separating single restatement companies from multiple restatement companies. This study investigates how market penalizes the companies that announce restatement more than once. Differentiating the restatement announcement data based on number of restatement announcements, the results support for non persistence hypothesis that the market has no memory and negative abnormal returns obtained after each of the restatement announcements are completely random. Second essay examines the multiple restatement announcements and its perceived resultant information asymmetry around the announcement day. This study examines the pattern of information asymmetry for these announcements in terms of whether the bid-ask spread widens around the announcement day. The empirical analysis supports the hypotheses that the spread does widen not only around the first restatement announcement day but around every subsequent announcement days as well. The third essay empirically examines the financial and corporate governance characteristics of single and multiple restatement announcements companies. The analysis shows that corporate governance variables influence the occurrence of multiple restatement announcements and can distinguish multiple restatements announcement companies from single restatement announcement companies.

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The work presented here aims to make an analysis of the socio-spatial dynamics of associative supermarket chains and their importance in redefining the roles of small urban North Rio Grande cities. The theoretical approach gives priority to business as a city constituent whose understanding allows us to seize the new socio-spatial dynamics of small towns in the face of globalization and which caused changes in the scope of its commercial forms. In this sense, we understand that trade, as an essentially urban activity has a very specific characteristic, with respect to its ability to transform the content and meaning of places. Another important factor in the construction work was the context of changes in the capitalist production system with the advent of flexible production and the determinations of the economic globalization process that brought new ways of organizing trade. The empirical analysis of the research includes two associative supermarket chains, the “Rede 10” and the “Rede Seridó”, bringing together basic elements for understanding the genesis and evolution of this new organizational model of trade in small towns of the state, as well as allowed -In understand the main changes in this segment of commercial activity. The methodology we used literature in books and periodicals, collected mainly secondary data collection with the SEBRAE and the ABRAS and was still a field research where interviews were conducted forwarded along to the associative network managers to supermarkets, owners of associated facilities and with consumers of the surveyed networks .Finally, we conclude that the formation and expansion of associative supermarket chains in the context of small cities potiguares is essentially in a survival alternative traditional small traders, that sharing the associative principles albeit somewhat rigidly guided by the training cooperation networks can not only stay in the market , but to impose as a new agent in the capital of the reproduction process. Thus, the associative supermarket chains in the search for new spaces, particularly within small towns end up promoting new momentum in these cities providing different flows and interconnections with different places, giving new content and urban roles. By taking not only the condition of the place of living, but also the place to reproduce the capital, small towns offer their population better able to make purchases, thus avoiding the mandatory population shifts to other urban centers in order to meet their consumption needs.

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While previous theoretical studies have examined exporters' choice of tariff schemes without considering explicit heterogeneity of importers, an empirical analysis on regional trade agreement (RTA) utilization is, in general, possible by employing trade data covering the importers' side. To better link the empirical analysis with a theoretical model, this study develops a model that sheds light on the role of both importers' and exporters' characteristics in RTA utilization. The model enables us to replicate stylized facts concerning importers' RTA utilization. Based on this model, we derive some propositions on the determinants of RTA utilization rates (i.e., share of imports under RTA schemes out of total imports) at an import firm-product level. Finally, we found that these theoretical predictions are supported by highly detailed import data in Thailand from Australia from 2007 to 2009.

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The objective of this paper is to analyse the effects of international R&D cooperation on firms’ economic performance. Our approach, based on a complete data set with information about Spanish participants in research joint ventures supported by the EU Framework Programme during the period 1995-2005, establishes a recursive model structure to capture the relationship between R&D cooperation, knowledge generation and economic results, which are measured by labour productivity. In the analysis we take into account that the participation in this specific type of cooperative projects implies a selection process that includes both the self-selection by participants to join the consortia and the selection of projects by the European Commission to award the public aid. Empirical analysis has confirmed that: (1) R&D co-operation has a positive impact on the technological capacity of firms, captured through intan-gible fixed assets and (2) the technological capacity of firms is positively related to their productivity.