Contingency factors and entrepreneurship: influence in business activity

2019 ◽  
Vol 25 (8) ◽  
pp. 1685-1702 ◽  
Author(s):  
Bernardí Cabrer-Borrás ◽  
Paz Rico Belda ◽  
Dolores Botella Carrubi
Keyword(s):  
Choice Model ◽  
Empirical Literature ◽  
Business Activity ◽  
Proportional Hazard ◽  
Economic Sectors ◽  
Content Type ◽  
Cox Proportional Hazard ◽  
The Difference ◽  
Binary Choice Model ◽  
The Empirical Analysis

Purpose The purpose of this paper is to analyse the determinants of the survival of Spanish companies. Design/methodology/approach Two approaches are used and they are complementary. The first approach analyses the determinants of survival probability. For this purpose, a binary choice model is built and estimated using a sample of companies from the main economic sectors taken from the SABI database. Likewise, the Blinder–Oaxaca decomposition is applied to quantify the difference between companies with employees and without employees and the proportion of this difference that owes to observed factors or unobserved factors. Finally, the second approach is a survival analysis carried out through the Cox proportional hazard model that identifies the determinants of the duration of business activity. Findings The results of the empirical analysis show that companies without employees present less favourable conditions for survival at all stages of their evolution than companies with employees. Originality/value The contribution of this study to the empirical literature consists in analysing the difference between companies with and without employees. Due to the structure of Spanish companies, this aspect and the determinants of such difference are essential for policymakers to increase the survival for companies.

Size and survival of the hospitality industry: The case of Spain

2020 ◽  
pp. 135481662090999
Author(s):  
Paz Rico Belda ◽  
Bernardí Cabrer-Borrás
Keyword(s):  
Hospitality Industry ◽  
Choice Model ◽  
Binary Choice ◽  
Business Activity ◽  
Cox Proportional Hazard Model ◽  
Proportional Hazard ◽  
Proportional Hazard Model ◽  
Cox Proportional Hazard ◽  
The Difference ◽  
Binary Choice Model

The aim of this study is to analyse the determinants of survival of the hospitality industry. The study pays particular attention to the size of the enterprises since the majority of Spanish hospitality enterprises are microenterprises. Two approaches are considered. The first approach uses a binary choice model to analyse the determinants of survival probability as well as the Blinder–Oaxaca decomposition, proposed by Yun (2004), to quantify the difference between enterprises according to their size and what proportion of this difference is due to observed factors or unobserved factors. The second approach is a survival analysis, carried out through the Cox proportional hazard model, which identifies the determinants of the duration of business activity of a hospitality enterprise. The empirical results show that enterprises without employees encounter less favourable conditions for survival than enterprises with employees and the risk of not surviving decreases as the size of the enterprise increases.

Gender differences in self-employment in Spain

2018 ◽  
Vol 10 (1) ◽  
pp. 19-38 ◽  
Author(s):  
Paz Rico ◽  
Bernardí Cabrer-Borrás
Keyword(s):  
Gender Differences ◽  
Choice Model ◽  
Entrepreneurial Activity ◽  
Men And Women ◽  
Content Type ◽  
Explanatory Factors ◽  
Self Employment ◽  
The Difference ◽  
Binary Choice Model ◽  
Unobservable Factors

Purpose The purpose of this paper is to analyse the gender differences of self-employment in Spain. Design/methodology/approach A binary choice model is specified and estimated, using information from the Continuous Working Life Sample drawn from the registers of the Spanish Social Security. Moreover, the differences in self-employment between men and women are also analysed, through the decomposition proposed by Yun (2004). Findings The results indicate that the differences between both groups in the probability of being entrepreneurs stem from unobservable factors. The difference explained by the unobservable component is 84.12 per cent, whereas the rest, 15.88 per cent, is explained by the characteristics component. The explanatory factors of being an entrepreneur affect men and women in the same way, but to a different extent, explained mainly by factors related to gender. Originality/value This paper sets out to identify whether there are gender differences in the probability of becoming self-employed and, if there are, to quantify what part of the difference in entrepreneurship between men and women is explained by the characteristics of each gender group and what part is because of unobservable factors. From the perspective of the public authority, knowing the determinants that explain why the entrepreneurial activity is different depending on gender is fundamental in being able to reduce the entrepreneurial gap between men and women.

Exchange Traded Funds and the likelihood of closure

2020 ◽  
Vol 35 (3/4) ◽  
pp. 105-127
Author(s):  
Aigbe Akhigbe ◽  
Bhanu Balasubramnian ◽  
Melinda Newman
Keyword(s):  
Mutual Funds ◽  
Hazard Model ◽  
Fund Performance ◽  
Individual Investors ◽  
Cox Proportional Hazard Model ◽  
Exchange Traded Funds ◽  
Proportional Hazard ◽  
Proportional Hazard Model ◽  
Content Type ◽  
Cox Proportional Hazard

PurposeThough exchange-traded funds (ETFs) are similar to mutual funds, we identify several reasons how they are different based on their structure and trading characteristics. Therefore, we argue that the determinants of fund closure decisions for ETFs will not be the same as the mutual funds. We systematically explore those factors.Design/methodology/approachWe use Cox Proportional Hazard model, which is considered a superior method, over the logistic regression models. All previous studies are based on logistic regressions.FindingsWe investigate the closure rate of ETFs over the 1995–2018 sample period. We find that the first three years are the most critical period for the survival of ETFs. Our full sample results show that early fund performance, the investment style of the fund, the expense ratio and fund family size are the most relevant factors influencing the likelihood of closure. When we consider equity-only funds, we find that key factors that influence fund closure are early fund performance, the expense ratio, failure to grow the fund's assets relatively quickly and the equity investment category of the fund.Research limitations/implicationsTracking error could be a significant factor. However, we have several missing values in the data. Therefore, we are forced to drop that variable. However, we use the SD of daily returns in lieu of that. Similarly, we were constrained by the availability of data for the equity style box scores.Practical implicationsOur study suggests that individual investors will be better off by investing in ETFs that are at least three-year to four-year old. If individuals want to invest in ETFs from the date of inception, the probability of survival is higher for an ETF within a larger fund family.Social implicationsHopefully, our research will attract the attention of CFPB and provide a warning to individual investors when they choose to invest in ETFs. More and more ETFs are getting included in retirement savings. So, abrupt ETF closures are likely to have large social implications for the future.Originality/valueWe are the first to use Cox Proportional Hazard model. We base our arguments from latest research on ETFs that the one earlier paper on ETF closure has missed. So, we examine the issue in a more systematic way.

Moving later in life – preferences and opportunity

2018 ◽  
Vol 11 (5) ◽  
pp. 852-874
Author(s):  
Maria Kulander
Keyword(s):  
Elderly People ◽  
Affordable Housing ◽  
Choice Model ◽  
Stated Preference ◽  
Economic Resources ◽  
Living Situation ◽  
Content Type ◽  
Stated Preference Data ◽  
The Usa ◽  
Binary Choice Model

Purpose Statistics from Eurostat show that several European countries have an increasing proportion of elderly people, making their housing situation of increasing interest. For many years, it has been policy in Sweden to help elderly people remain in their current homes for as long as possible. This paper aims to find reasons why people want to move at different stages in life and investigate whether the pattern follows the life cycle in housing. Earlier research has been performed in the USA (Gibler and Clements III, 2011) and in China (Jia and Heath, 2016), but these questions remain understudied in Sweden. Design/methodology/approach A model of the demand for adapted houses is designed and tested on data gathered in Gävle in 2012. The method uses a binary choice model with stated preference data. Findings The results of this study show that earlier preferences and age determine the future living situation, but that senior living (rental or condominium) is most popular as a future home. Practical implications Not everyone has the economic resources to move according to their preferences; reasons include high monthly costs and taxes. Changes in the tax system may produce better moving chains and increase the supply of affordable housing. Originality/value The model in this paper could guide future studies within the area.

Jurisprudence and demand for halal meat in OIC

2019 ◽  
Vol 121 (7) ◽  
pp. 1614-1626 ◽  
Author(s):  
Imran Majeed ◽  
Hussein Al-Zyoud ◽  
Naved Ahmad
Keyword(s):  
Trade Flows ◽  
Import Demand ◽  
Policy Implications ◽  
Empirical Literature ◽  
Content Type ◽  
Islamic Jurisprudence ◽  
The Difference ◽  
Set Up ◽  
Lag Variables ◽  
Meat Market

Purpose The purpose of this paper is to estimate the import demand function for halal meat in member countries of the Organization of Islamic Cooperation (OIC) and to suggest some policy recommendations for OIC members that can enhance intra-OIC halal meat trade. Design/methodology/approach By using an augmented gravity model, this study empirically estimates the major determinants of halal meat import demand in OIC member countries. Moreover, a major determinant is the difference in Islamic jurisprudence (fiqh). Findings The results of this study show that the variation in Islamic jurisprudence is one of the primary determinants of intra-regional trade of halal meat import demand in OIC member countries. Research limitations/implications Although trade flows are set up in several years and lag variables are well capable to examine trade flows, this study only includes the static nature of halal meat trade flows toward selected top 20 OIC member countries. Practical implications This study suggests that developing a common halal meat market and one halal certification body under the OIC can enhance intra-OIC halal meat trade, this may be a challenge given the five diverse interpretations of halal meat within Islamic jurisprudence among OIC member countries. Originality/value This paper identifies the role of Islamic jurisprudence (fiqh) in determining the import demand of halal meat in OIC countries, which has not been addressed in empirical literature. It also provides some policy implications to ameliorate the declining trend of intra-OIC trade flows of halal meat.

scholarly journals Kondisi Fisik, Pengetahuan, Pendidikan, Pekerjaan Ibu, dan Lama Pemberian ASI Secara Penuh

2013 ◽  
Vol 8 (5) ◽  
pp. 210
Author(s):  
Muhammad Tahir Abdullah ◽  
Alimin Maidin ◽  
Andi Dwi Lestari Amalia
Keyword(s):  
Cross Sectional Study ◽  
Observational Research ◽  
Proportional Hazard ◽  
Sectional Study ◽  
Physical Status ◽  
Cross Sectional ◽  
Cox Proportional Hazard ◽  
Kaplan Meier ◽  
The Difference ◽  
Difference Effect

Berbagai studi dan pengamatan memperlihatkan kecenderungan penurunan pemberian ASI dan berganti dengan susu fomula menjadi kebiasaan umum di dalam masyarakat. Penelitian ini bertujuan mengetahui pola pemberian ASI pada periode 12 bulan umur bayi dan perbedaan pengaruh variabel determinan terhadap lama pemberian ASI secara penuh (ASI secara penuh) tanpa makanan lain. Penelitian observasional analitik yang dilaksanakan di dua wilayah kerja puskesmas Kecamatan Tallo Kota Makassar ini menggunakan rancangan studi potong lintang dengan jumlah sampel 300 responden. Analisis multivariat dilakukan dengan metode Cox Proportional Hazard. Hasil penelitian menunjukkan bahwa proporsi bayi untuk mendapatkan ASI secara penuh pada bulan pertama adalah sekitar 0,86, pada bulan ke 6 menurun sekitar 31%, dan pada periode 5,06 bulan menurun menjadi sekitar 50%. Ada perbedaan lama pemberian ASI secara penuh berdasarkan variabel keadaan fisik ibu, pengetahuan ibu, pendidikan, dan pekerjaan. Hasil analisis lanjut menunjukkan variabel yang berbeda secara nyata dalam hubungan dengan durasi pemberian ASI secara penuh adalah keadaan fisik ibu dan pengetahuan ibu.Various studies and observations indicate declining trend of breastfeeding and replacing breast milk with formula is already a common thing in society. This study aimed to find out the pattern of breastfeeding in infants up to 12 months, and to know the difference effect of the determinant variables of full breastfeeding. This observational research with cross sectional study design that involved 300 respondents was conducted in the Tallo District of Makassar City. Data analysis was performed by univariate, bivariate with Kaplan Meier and multivariate with Cox Proportional Hazard. The results showed that proportion of infants get full breastfeeding in first month was 0.86, infants who still get full breastfeeding on the 6th month are 31%, and half of the number of infants are not get full breastfeeding after 5.06 months. There are differences in the duration of full breastfeeding on the mother’s physical status, education, and occupation. The further analysis showed a markedly different variables in influencing the duration of full breastfeeding are mother’s phisical status and knowledge.

scholarly journals Do foreign direct investments and bank credits affect employment in Uzbekistan?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alisher Suyunov
Keyword(s):  
Time Series ◽  
Unemployment Rate ◽  
Absorptive Capacity ◽  
Creative Industries ◽  
Empirical Literature ◽  
Foreign Direct Investments ◽  
Economic Time Series ◽  
Economic Sectors ◽  
Content Type ◽  
The Relationship

PurposeThe paper investigates the relationship between credit to the economy, foreign direct investment (FDI) and the unemployment rate in Uzbekistan using macroeconomic time series over 2004–2019.Design/methodology/approachThe study estimates the relationship by applying a vector autoregression model, which is considered a “workhorse” model for policy analysis to capture dynamic relationships in economic time series.FindingsThe results suggest both growth in credit to the economy and FDI Granger cause a change in the unemployment rate. The authors found 1% increase in bank credits to the economy growth decreases the unemployment rate by 0.096 pp. over eight years. On the contrary, 1% positive shock to FDI growth increases the unemployment rate by 0.0036% in the context of Uzbekistan.Practical implicationsUzbekistan should improve FDI absorptive capacity, particularly human capital and financial market development, through growth-enhancing structural reforms in the financial sector to stimulate economic growth and employment. The attracted FDI funds should focus on productive and economic sectors with high labor-absorptive capacity, such as financial and professional services, healthcare and biomedicine, creative industries and media, software sector.Originality/valueThe study contributes to the empirical literature on employment effects of FDIs and credit to the economy of Uzbekistan.

Which consumers opt for organic wine and why? An analysis of the attitude-behaviour link

2018 ◽  
Vol 120 (8) ◽  
pp. 1901-1914 ◽  
Author(s):  
Isabel Schäufele ◽  
Daria Pashkova ◽  
Ulrich Hamm
Keyword(s):  
Choice Model ◽  
Causal Relation ◽  
Wine Production ◽  
Fractional Model ◽  
Content Type ◽  
Data Source ◽  
Organic Wine ◽  
Real Market ◽  
Binary Choice Model ◽  
Household Panel Data

Purpose The purpose of this paper is to analyse the effect of attitudes and socio-demographics on wine consumers’ real purchase behaviour for organic wine. Design/methodology/approach This study is based on GfK household panel data, a real market data source of high population coverage. A two-part fractional model was applied as two distinct categories of wine buyers were observed. The first part of the two-part fractional model consisted of a standard binary choice model and defined the likelihood of belonging to the group of organic wine buyers. The second part of the model only took organic wine buyers into account and described their purchase intensity. Findings Preferences for organic products and sustainability concerns (e.g. environmental and social concerns) drive organic wine purchases. Proving a causal relation between attitudes and purchase behaviour gives evidence that stated preferences are a reliable indicator to predict consumer behaviour. However, the weak relation between attitudes and behaviour confirms the existence of an attitude-behaviour gap. Practical implications Quality benefits of organic wine production need to be communicated to attract new customers. Stronger focus should be put on sustainability issues with the aim of encouraging organic customers to also increase their expenditures for organic wine. Originality/value The influence of sustainability concerns on purchase behaviour is still controversial and no study, so far, has analysed real purchase data for organic wine. The results provide new insights on why attitudes do not fully transform into purchase behaviour.

scholarly journals Effect of floor type and bedding system on sows lifespan

2013 ◽  
pp. 155-160
Author(s):  
Angéla Soltész
Keyword(s):  
Survival Analysis ◽  
Cox Proportional Hazard Model ◽  
Proportional Hazard ◽  
Proportional Hazard Model ◽  
Large White ◽  
Cox Proportional Hazard ◽  
Kaplan Meier ◽  
Significant Difference ◽  
The Difference ◽  
Comparative Examination

The paper studies two nucleus pig farms in the Great Plain region of Hungary which have same management, same feeding system but different breeding technology (Farm A had solid floor with straw and Farm B had slatted floor without straw). The genetics of sows were crossbred Dutch Large White and Dutch Landrace. The comparative examination was based on the causes of culling according to the different floor type. To the analysis of culling reasons was applied the methods of survival analysis. In the analysis there were used the Kaplan-Meier method and the Cox Proportional Hazard model to the estimate the difference between the farms. The results of survival analysis showed significant difference (p<0.05) between the lifespan of sows that caused the difference between the survival probabilities of sows culled due to lameness. Furthermore there was showed that the sows kept on solid floor with straw have stayed in production longer than on slatted floor without straw. The hazard ratio was 1.434 that means that the culling due to lameness is 1.434 times higher by the slatted floor without straw facing by solid floor with straw.

scholarly journals Do External and Internal Crises Affect Foreign Portfolio Inflows? The Case of China and India

2016 ◽  
Vol 8 (7) ◽  
pp. 149
Author(s):  
Fayyaz Ahmad ◽  
Muhammad Umar Draz ◽  
Su-Chang Yang
Keyword(s):  
Choice Model ◽  
Gdp Growth ◽  
Portfolio Investment ◽  
Economic Sectors ◽  
Foreign Portfolio Investment ◽  
Dummy Variable ◽  
China And India ◽  
Independent Variable ◽  
Binary Choice Model ◽  
The Relationship

This study examines the relationship between external and internal crisis (EIC) and Foreign Portfolio Investment (FPI) net inflows in China and India. We have applied Binary Choice Model taking the EIC as a dummy variable. GDP growth is an independent variable in our model that indicates the combined performance of economic sectors. The results suggest that EIC exert a significant impact on the FPI net inflows, but the nature of internal issues is different for both countries. We find a little association between GDP growth and net FPI inflows.

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