The empirical analysis for fractal features and long-run memory mechanism in petroleum pricing systems

2007 ◽  
Vol 27 (4) ◽  
pp. 492 ◽  
Author(s):  
Ling Yun He ◽  
Ying Fan ◽  
Yi Ming Wei
Keyword(s):  
Empirical Analysis ◽  
Memory Mechanism ◽  
Long Run ◽  
The Empirical Analysis

scholarly journals Effects of model specification, short-run, and long-run inefficiency: an empirical analysis of stochastic frontier models

2018 ◽  
Vol 64 (No. 11) ◽  
pp. 508-516 ◽  
Author(s):  
Habtamu ALEM
Keyword(s):  
Panel Data ◽  
Empirical Analysis ◽  
Crop Production ◽  
Stochastic Frontier ◽  
Model Specification ◽  
Panel Data Models ◽  
Long Run ◽  
Multiple Input ◽  
Short Run ◽  
The Empirical Analysis

This paper examines the recent advances in stochastic frontier (SF) models and its implications for the performance of Norwegian crop-producing farms. In contrast to the previous studies, we used a cost function in multiple input-output frameworks to estimate both long-run (persistent) and short-run (transient) inefficiency. The empirical analysis is based on unbalanced farm-level panel data for 1991–2013 with 3 885 observations from 455 Norwegian farms specialising in crop production. We estimated seven SF panel data models grouped into four categories regarding the assumptions used to the nature of inefficiency. The estimated cost efficiency scores varied from 53–95%, showing that the results are sensitive to how the inefficiency is modeled and interpreted.

scholarly journals Theoretical-empirical analysis of the role of the SGAFF in financing of farmers’ activities

2008 ◽  
Vol 54 (No. 10) ◽  
pp. 476-488
Author(s):  
L. Čechura
Keyword(s):  
Theoretical Model ◽  
Empirical Analysis ◽  
Optimization Problem ◽  
Optimal Model ◽  
Dynamic Optimization Problem ◽  
Lagrange Method ◽  
Long Run ◽  
The Interest Rate ◽  
The Empirical Analysis

The paper deals with the theoretical-empirical analysis of the role of the SGAFF in financing of farmers’ activities based on the dynamic optimal model and time series analysis. The dynamic optimization problem is solved by the Lagrange method. The application of the theoretical model shows that the lower is the interest rate paid by the farmer, the lower is the optimal consumption and consequently the farmer is willing to employ a higher part of the capital in the production. Thus, the initial capital is more effectively employed. The empirical part shows that the SGAFF’s activities significantly support the farmers’ investments. In spite of the problems in the setting of the SGAFF’s policy, the role of the SGAFF in financing of agricultural activities can be regarded as positive in the analyzed period. Moreover, the application of the theoretical model and the empirical analysis suggest that the SGAFF contributes to a more effective capital employment and thereby increases the competitiveness of Czech agriculture in the long run.

scholarly journals Civil War Outcome, Democratization, and Ethnic Support

2019 ◽  
Author(s):  
Nils W Metternich
Keyword(s):  
Civil War ◽  
Empirical Analysis ◽  
Full Scale ◽  
Political Position ◽  
Post Conflict ◽  
Long Run ◽  
Government Leader ◽  
The Government ◽  
The Empirical Analysis

What are the conditions under which post-conflict elections take place and why do only few post-conflict elections result in democratic post-conflict orders? This is the main puzzle raised in this paper. The argument is that the decision to stage elections and democratize is highly strategic and depends on the ethnic size of the post-conflict government leader. Especially post-conflict leaders with large ethnic support are able to utilize quick post-conflict elections to stabilize and legitimize their political position. However, in the long run the government leaders prefer institutions that maximize their time in office and therefore will hinder full scale democratization. The empirical analysis demonstrates that the timing of elections and democratization depend on the ethnic support of the new government and the civil war outcome.

Impact of anchor investors on IPO returns during pre-market and aftermarket: evidence from India

2019 ◽  
Vol 17 (3) ◽  
pp. 351-368 ◽  
Author(s):  
Vikas Gupta ◽  
Shveta Singh ◽  
Surendra S. Yadav
Keyword(s):  
Empirical Analysis ◽  
Initial Public Offering ◽  
Robust Regression ◽  
Stock Exchange ◽  
Ipo Underpricing ◽  
Content Type ◽  
Long Run ◽  
Post Market ◽  
The Impact ◽  
The Empirical Analysis

Purpose The unique regulatory design of India provides us with the opportunity to disaggregate traditional initial public offering (IPO) underpricing into three categories: voluntary, pre-market and post-market. The presence of anchor investors in India makes it a compelling case to study. These individuals were introduced to bring transparency in the book building process, but their impact on pre-market and post-market underpricing was not foreseen. Therefore, the purpose of this paper is to evaluate the impact of anchor investors on the IPO underpricing after disaggregation and on the long-run performance of an IPO. Design/methodology/approach A sample covering 232 IPOs from a period of 2009–2018 is included. The empirical analysis explores the impact of various firm-specific as well as market-specific variables on IPO underpricing. The financial data for the empirical analysis are extracted from Prime database and websites of National Stock Exchange and Bombay Stock Exchange. To deal with the outliers effectively, this paper deploys “robust-regression.” Findings The study finds that investor’s subscription rate and voluntary underpricing impacts the pre-market but do not have any impact on the post-market while the age of the firm has a different impact on both the markets and the number of anchor investors have the same impact in both markets. Anchor investors’ participation increases the pre-market as well as post-market underpricing. Lastly, the long-term performance of IPOs backed by the anchor investors is high relative to the IPOs not subscribed to by the anchor investors. Originality/value This paper is believed to be the first attempt to study the impact of anchor investors on the disaggregated IPO underpricing. The findings of this study will have a great insight for the investors.

Investigating the Price Transmission Mechanisms of Greek Fresh Potatoes, Tomatoes and Cucumbers Markets

2016 ◽  
Vol 14 (1) ◽  
Author(s):  
Anthony N. Rezitis ◽  
Dimitris N. Pachis
Keyword(s):  
Empirical Analysis ◽  
Price Transmission ◽  
Vector Error Correction ◽  
Price Increases ◽  
Transmission Mechanisms ◽  
Vector Error ◽  
Long Run ◽  
Out Of Sample ◽  
The Empirical Analysis ◽  
Price Relationships

AbstractThis study investigates the price transmission mechanisms between the producer and the consumer for three major Greek agricultural products: fresh potatoes, tomatoes and cucumbers. The empirical analysis uses a Markov Switching Vector Error Correction model which accounts for asymmetric responses of the producer and the consumer to price increases and decreases. The asymmetric effects are tested with in-sample as well as out-of-sample measures for each state. The response of the producer and the consumer to long-run deviations from the equilibrium and to lagged price changes is investigated along with the nature of the price shocks for each state. The empirical results show that potatoes and cucumbers give rise to similar price mechanisms even though the underlying characteristics of these two markets are different. Moreover, the empirical analysis shows that tomatoes and cucumbers result in different price relationships between the producer and the consumer despite the similar market characteristics.

scholarly journals Concentration of Resources and Economic Growth

REGION ◽  
2015 ◽  
Vol 2 (1) ◽  
pp. 17
Author(s):  
David Castells-Quintana
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Empirical Analysis ◽  
Policy Debate ◽  
Long Run ◽  
Modern Economic ◽  
The Impact ◽  
The Empirical Analysis

In this letter I summarise the main results and contributions from my Ph.D. thesis on concentration of resources and economic development. The empirical analysis performed in the thesis, and summarised here, focuses on two mayor world trends in modern economic development, namely increasing agglomeration and rising inequalities within countries. In particular, the impact of both trends on long-run economic growth is studied, and results are discussed in light of relevant policy debate.

The Word Class Adjective in English Business Magazines Online

2018 ◽  
Vol 6 (2) ◽  
pp. 99-115
Author(s):  
Borislav Marušić ◽  
Sanda Katavić-Čaušić
Keyword(s):  
Empirical Study ◽  
Empirical Analysis ◽  
Word Formation ◽  
Word Class ◽  
Business English ◽  
Starting Point ◽  
Comprehensive Picture ◽  
English Syntax ◽  
The Empirical Analysis ◽  
Insight Into

Abstract The aim of this paper is to research the word class adjective in one sequence of the ESP: Business English, more precisely English business magazines online. It is an empirical study on the corpus taken from a variety of business magazines online. The empirical analysis allows a comprehensive insight into the word class adjective in this variety of Business English and makes its contribution to English syntax, semantics and word formation. The syntactic part analyses the adjective position in the sentence. The semantic part of the study identifies the most common adjectives that appear in English business magazines online. Most of the analysis is devoted to the word formation of the adjectives found in the corpus. The corpus is analysed in such a way that it enables its division into compounds, derivatives and conversions. The results obtained in this way will give a comprehensive picture of the word class adjective in this type of Business English and can act as a starting point for further research of the word class adjective.

ICT SMEs, Performance, Absorptive Capacity and Transformative Capacity

2019 ◽  
Vol 118 (3) ◽  
pp. 178-188
Author(s):  
Yeon-Sung Cho ◽  
Kyung-Il Khoe
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Empirical Analysis ◽  
Absorptive Capacity ◽  
Latent Variables ◽  
Equation Modeling ◽  
Transformative Capacity ◽  
The Impact ◽  
The Empirical Analysis ◽  
Innovative Capacity

This study intends to integrate the relationship of market orientation, innovative capacity and firm performance to Information and Communication Technology(ICT) SMEs. The purpose of this study is to identify the role of absorptive capacity and transformative capacity that affect the performance of ICT SMEs. Hypotheses were established between five latent variables. A total of six hypotheses were established including the moderated effects of absorptive capacity and transformative capacity. Of the data collected after the survey, 112 valid surveys were selected as the final sample, except for 17 questionnaires with high non - response and insincere response. The empirical analysis of this study used smartpls3.0, Partial Least Squares (PLS), a variance-based structural equation modeling. The empirical analysis of this study revealed that the impact of market orientation on innovative capacity was significant. Moreover, the innovative capacity had a positive effect on the performance of ICT SMEs. In addition, the absorptive activity had a positive moderated effect between the market orientation and the innovative capacity. On the other hand, the transformative capacity showed a positive moderated effect in relation to innovative capacity and firm performance. Our empirical results have demonstrated the importance of knowledge based capacity in the ICT SMEs.

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