scholarly journals Finance Constraints and Inventory Investment: Empirical Tests with Panel Data

2004 ◽  
Author(s):  
Rose M. Cunningham
Keyword(s):  
Panel Data ◽  
Inventory Investment ◽  
Finance Constraints ◽  
Empirical Tests

Branch Banking Restrictions and Finance Constraints in Early-Twentieth-Century America

2005 ◽  
Vol 65 (1) ◽  
pp. 129-151 ◽  
Author(s):  
DANIEL C. GIEDEMAN
Keyword(s):  
Twentieth Century ◽  
Panel Data ◽  
Large Scale ◽  
Firm Investment ◽  
Data Set ◽  
Industrial Firms ◽  
External Finance ◽  
Finance Constraints ◽  
Branch Banking ◽  
Twentieth Century America

This article studies the effects of branch banking restrictions on American firm investment and growth. Authors have suggested that the lack of widespread branching bank networks hindered the development of large-scale industrial firms. This article presents a model that implies that restrictions on branch banking cause the severity of external finance constraints to increase with firm size. This hypothesis is tested using a panel data set of over 250 firms for 1911–1922. Investment and growth sensitivities are significantly higher for large firms than for smaller firms, suggesting that branch banking restrictions hindered the expansion of large-scale firms.

scholarly journals Poverty, governance and economic growth

2013 ◽  
Vol 2 (3) ◽  
pp. 19-24 ◽  
Author(s):  
Kefi Mohamed Karim ◽  
Hadhek Zouhaier ◽  
Ben Hamed Adel
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Data Model ◽  
Simultaneous Equations ◽  
Panel Data Model ◽  
Simultaneous Equations Model ◽  
Negative Effect ◽  
Empirical Tests ◽  
Positive Effect

The objective of this paper is to study the effect of governance and poverty on economic growth of a set of eight developing countries during the period 2000-2009, using a dynamic and static panel data model and a simultaneous equations model. The key findings generated from these three empirical tests stipulate a negative effect of governance on poverty and a positive effect of political instability and corruption on poverty.

scholarly journals Avaliação de Ações e Números Contábeis: Aplicação dos modelos de Zhang (2000) e Zhang e Chen (2007) no mercado brasileiro

2011 ◽  
Vol 9 (1) ◽  
pp. 131
Author(s):  
Fernando Caio Galdi ◽  
Rodrigo Falco Lopes
Keyword(s):  
Panel Data ◽  
Stock Returns ◽  
Discount Rate ◽  
Capital Markets ◽  
Capital Market ◽  
Net Income ◽  
Cross Sectional ◽  
Empirical Results ◽  
The Us ◽  
Empirical Tests

This paper investigates how accounting variables explain cross-sectional stocks returns in Brazilian capital markets. The analysis is based on Zhang (2000) and Zhang and Chen (2007) models. These models predict that stock returns are a function of net income, change in profitability, invested capital, changes in opportunity growths and discount rate. Generally, the empirical results for the Brazilian capital market are consistent with the theoretical relations that models describe, similarly to the results found in the US. Using different empirical tests (pooled regressions, Fama-Macbeth and panel data) the results and coefficients remain similar, what support the robustness of our findings.

scholarly journals PM2.5 Concentrations and Subjective Well-Being: Longitudinal Evidence from Aggregated Panel Data from Chinese Provinces

2019 ◽  
Vol 16 (7) ◽  
pp. 1129 ◽  
Author(s):  
Pan Zhang ◽  
Zhiguo Wang
Keyword(s):  
Panel Data ◽  
Low Income ◽  
Initial Level ◽  
Ground Level ◽  
Well Being ◽  
Policy Implications ◽  
Subjective Well Being ◽  
Negative Effects ◽  
Haze Pollution ◽  
Empirical Tests

Although haze pollution with PM2.5 as the chief pollutant has become a critical threat worldwide, little research has examined the effects of PM2.5 concentrations on subjective well-being. Based on a longitudinal aggregated panel dataset from Chinese provinces, this study investigates the effects of PM2.5 concentrations on levels of happiness and the inequality of happiness. The results showed that high ground-level PM2.5 concentrations decreased the average level of happiness and high PM2.5 concentrations had stronger negative effects on the happiness of persons with high income than those with low income. In addition, PM2.5 concentrations were also significantly negatively related to inequality of happiness in Chinese provinces. Further empirical tests showed that the negative effects of PM2.5 concentrations on the inequality of happiness could be explained by the stronger influence of PM2.5 concentrations on the subjective well-being of individuals with a higher initial level of happiness than those with a lower initial level of happiness. This confirms that PM2.5 pollution can do harm to subjective well-being and reduce variations in the subjective well-being of individuals. The policy implications of controlling haze pollution and improving well-being are discussed.

A panel data study on Spanish firms' inventory investment

2000 ◽  
Vol 32 (15) ◽  
pp. 1927-1937 ◽  
Author(s):  
Félix J. López Iturriaga
Keyword(s):  
Panel Data ◽  
Inventory Investment
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