scholarly journals An Empirical Study on Listed Company’s Value of Cash Holdings: An Information Asymmetry Perspective

2014 ◽  
Vol 2014 ◽  
pp. 1-12 ◽  
Author(s):  
Chuangxia Huang ◽  
Xin Ma ◽  
Qiujun Lan
Keyword(s):  
Principal Component Analysis ◽  
Asymmetric Information ◽  
Empirical Study ◽  
Corporate Finance ◽  
Information Asymmetry ◽  
Market Microstructure ◽  
Cash Holdings ◽  
Principal Component ◽  
Value Of Cash ◽  
The Relationship

The value of a company’s cash holdings is currently a hot issue in corporate finance research. Current studies have not reached a unified conclusion. Moreover, no one has ever studied that from the perspective of information asymmetry. However, there still exist disputes about the measurement of the degree of information asymmetry. Previous studies mostly adopt single index to analysis this issue, and the economic meaning it represents only reflects some information of asymmetric information, so it was one-sided and the conclusion also differ. Drawing on the market microstructure and the index of information asymmetry of managers and investors, this paper constructs a new proxy for information asymmetry based on the principal component analysis. We find that a company’s value of cash holdings decreases increasingly with its level of information asymmetry, and the relationship between information asymmetry and the value of cash holdings is nonlinear.

scholarly journals An Empirical Study of National Education and Economic Development Based on a Variable Coefficient Model

2021 ◽  
Author(s):  
Liuyuan Han ◽  
Guangming Deng
Keyword(s):  
Principal Component Analysis ◽  
Economic Development ◽  
Empirical Study ◽  
Constant Coefficient ◽  
Variable Coefficient ◽  
Principal Component ◽  
Education Level ◽  
National Education ◽  
Long Run ◽  
The Relationship

This paper studies the relationship between the level of national education and economic development in 31 provinces and cities in China from 2012 to 2019. Principal component analysis is used to comprehensively evaluate the level of national education, on the basis of which a variable coefficient model is tested and a constant coefficient model is established for comparison. The results show that: (1) there is a co-integration relationship between the level of national education and economic development, i.e. the two are in equilibrium in the long run. (2) In some provinces and cities in China, economic development is positively correlated with the level of national education, and some provinces and cities are negatively correlated. (3) Economic development has different effects on the level of national education in the east, middle and west. (4) Economic development and national education level are positively correlated in the average sense in China.

scholarly journals An Empirical Study of National Education and Economic Development Based on a Variable Coefficient Model

2021 ◽  
Vol 4 (4) ◽  
Author(s):  
Liuyuan Han ◽  
◽  
Guangming Deng
Keyword(s):  
Principal Component Analysis ◽  
Economic Development ◽  
Empirical Study ◽  
Constant Coefficient ◽  
Variable Coefficient ◽  
Principal Component ◽  
Education Level ◽  
National Education ◽  
Long Run ◽  
The Relationship

This paper studies the relationship between the level of national education and economic development in 31 provinces and cities in China from 2012 to 2019. Principal component analysis is used to comprehensively evaluate the level of national education, on the basis of which a variable coefficient model is tested and a constant coefficient model is established for comparison. The results show that: (1) there is a co-integration relationship between the level of national education and economic development, i.e. the two are in equilibrium in the long run. (2) In some provinces and cities in China, economic development is positively correlated with the level of national education, and some provinces and cities are negatively correlated. (3) Economic development has different effects on the level of national education in the east, middle and west. (4) Economic development and national education level are positively correlated in the average sense in China.

scholarly journals Quantify Coal Macrolithotypes of a Whole Coal Seam: A Method Combing Multiple Geophysical Logging and Principal Component Analysis

Energies ◽  
2021 ◽  
Vol 14 (1) ◽  
pp. 213
Author(s):  
Chao Cui ◽  
Suoliang Chang ◽  
Yanbin Yao ◽  
Lutong Cao
Keyword(s):  
Principal Component Analysis ◽  
Coal Seam ◽  
Coalbed Methane ◽  
Principal Component ◽  
Component Analysis ◽  
Gas Production ◽  
Index Model ◽  
Geophysical Logging ◽  
The Relationship ◽  
Observation Results

Coal macrolithotypes control the reservoir heterogeneity, which plays a significant role in the exploration and development of coalbed methane. Traditional methods for coal macrolithotype evaluation often rely on core observation, but these techniques are non-economical and insufficient. The geophysical logging data are easily available for coalbed methane exploration; thus, it is necessary to find a relationship between core observation results and wireline logging data, and then to provide a new method to quantify coal macrolithotypes of a whole coal seam. In this study, we propose a L-Index model by combing the multiple geophysical logging data with principal component analysis, and we use the L-Index model to quantitatively evaluate the vertical and regional distributions of the macrolithotypes of No. 3 coal seam in Zhengzhuang field, southern Qinshui basin. Moreover, we also proposed a S-Index model to quantitatively evaluate the general brightness of a whole coal seam: the increase of the S-Index from 1 to 3.7, indicates decreasing brightness, i.e., from bright coal to dull coal. Finally, we discussed the relationship between S-Index and the hydro-fracturing effect. It was found that the coal seam with low S-Index values can easily form long extending fractures during hydraulic fracturing. Therefore, the lower S-Index values indicate much more favorable gas production potential in the Zhengzhuang field. This study provides a new methodology to evaluate coal macrolithotypes by using geophysical logging data.

scholarly journals Air Pollution and Human Development in Europe: A New Index Using Principal Component Analysis

2018 ◽  
Vol 10 (2) ◽  
pp. 312 ◽  
Author(s):  
Ana-Maria Săndică ◽  
Monica Dudian ◽  
Aurelia Ştefănescu
Keyword(s):  
Principal Component Analysis ◽  
Human Development ◽  
Quantitative Measure ◽  
Principal Component ◽  
Component Analysis ◽  
Life Expectancy At Birth ◽  
Real Gdp ◽  
Development Indicator ◽  
The Relationship ◽  
Pm2.5 Concentration

EU countries to measure human development incorporating the ambient PM2.5 concentration effect. Using a principal component analysis, we extract the information for 2010 and 2015 using the Real GDP/capita, the life expectancy at birth, tertiary educational attainment, ambient PM2.5 concentration, and the death rate due to exposure to ambient PM2.5 concentration for 29 European countries. This paper has two main results: it gives an overview about the relationship between human development and ambient PM2.5 concentration, and second, it provides a new quantitative measure, PHDI, which reshapes the concept of human development and the exposure to ambient PM2.5 concentration. Using rating classes, we defined thresholds for both HDI and PHDI values to group the countries in four categories. When comparing the migration matrix from 2010 to 2015 for HDI values, some countries improved the development indicator (Romania, Poland, Malta, Estonia, Cyprus), while no downgrades were observed. When comparing the transition matrix using the newly developed indicator, PHDI, the upgrades observed were for Denmark and Estonia, while some countries like Spain and Italy moved to a lower rating class due to ambient PM2.5 concentration.

scholarly journals Correlation of environmental factors and spatial distribution of moluscs communities in mangrove reboisation areas of Seribu Islands, Indonesia

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Syahrial Syahrial ◽  
Eryc Pranata ◽  
Hendri Susilo
Keyword(s):  
Principal Component Analysis ◽  
Spatial Distribution ◽  
Environmental Factors ◽  
Principal Component ◽  
Quality Standard ◽  
Small Plot ◽  
Line Transects ◽  
Relationship Of ◽  
The Relationship ◽  
Mangrove Reforestation

Mangrove reforestation is often carried out in various regions or regions, but information about the relationship of environmental factors and the distribution of fauna associations is still very minimal. The Principal Component Analysis (PCA) study on the correlation of environmental factors and the spatial distribution of the molusks community in the Seribu Islands mangrove reforestation area was conducted in March 2014 with the aim of analyzing environmental factors for the diversity and presence of the molusks. Environmental factors are measured insecurely, while the moluccan community is collected by making line transects and plots measuring 10 x 10 m2 and in the size of 10 x 10 m2, a small plot of 1 x 1 m2 is made. The results of the study show that environmental factors are not so different between stations and do not exceed the quality standard for the lives of 4 species of mollusks, where the parameters of aquatic pH are the environmental factors that most influence their distribution.Keywords: environmental factors, distribution, mollusks community, mangrove reforestation, Seribu Islands

The Application of Principal Component Analysis in Comprehensive Evaluation of Liaohe River Water Quality

2013 ◽  
Vol 779-780 ◽  
pp. 1596-1599 ◽  
Author(s):  
Lei Zhu ◽  
Ming Li
Keyword(s):  
Water Quality ◽  
Principal Component Analysis ◽  
Cross Section ◽  
Water Environment ◽  
Principal Component ◽  
Quality Monitoring ◽  
Water Quality Indicators ◽  
Liaohe River ◽  
Environment Quality ◽  
The Relationship

In order to explore the relationship between water quality indicators and the cross-section,this paper applied principal component analysis to evaluate comprehensively the water quality monitoring sections of the Liaohe River. The results showed that the water quality of the Liaohe River Tieling and Shenyang segments belonged to the inferior class V water. In this paper, water quality assessment and water environment quality grading used respectively two ways that were not and setting up a virtual cross-section to avoid the classification of water environment quality impacting on the relationship between water quality indicators and quality monitoring sections. Principal component score applied two and three-dimensional graphic display,made expression of the water pollution situation more intuitive.

scholarly journals Comparative analysis of shell occupation by two southern populations of the hermit crab Loxopagurus loxochelis (Decapoda, Diogenidae)

2012 ◽  
Vol 60 (3) ◽  
pp. 299-310 ◽  
Author(s):  
Luciane Ayres-Peres ◽  
Aline Ferreira Quadros ◽  
Fernando L. Mantelatto
Keyword(s):  
Principal Component Analysis ◽  
Comparative Analysis ◽  
Hermit Crab ◽  
Regression Tree ◽  
Principal Component ◽  
Hermit Crabs ◽  
Pca Analysis ◽  
Internal Volume ◽  
The Relationship ◽  
Two Populations

The present study aimed to comparatively verify the relation between the hermit crabs and the shells they use in two populations of Loxopagurus loxochelis. Samples were collected monthly from July 2002 to June 2003, at Caraguatatuba and Ubatuba Bay, São Paulo, Brazil. The animals sampled had their sex identified, were weighed and measured; their shells were identified, measured and weighed, and their internal volume determined. To relate the hermit crab's characteristics and the shells' variables, principal component analysis (PCA) and a regression tree were used. According to the PCA analysis, the three gastropod shells most frequently used by L. loxochelis varied in size. The regression tree successfully explained the relationship between the hermit crab's characteristics and the internal volume of the inhabited shell. It can be inferred that the relationship between the morphometry of an individual hermit crab and its shell is not straightforward and it is impossible to explain only on the basis of direct correlations between the body's and the shell's attributes. Several factors (such as the morphometry and the availability of the shell, environmental conditions and inter- and intraspecific competition) interact and seem to be taken into consideration by the hermit crabs when they choose a shell, resulting in the diversified pattern of shell occupancy shown here and elsewhere.

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