scholarly journals Does population ageing impact inflation?

Stanovnistvo ◽  
2021 ◽  
Vol 59 (2) ◽  
pp. 107-122
Author(s):  
Marija Radulovic ◽  
Milan Kostic
Keyword(s):  
Negative Relationship ◽  
Modern Society ◽  
Developed Countries ◽  
Population Ageing ◽  
Ageing Population ◽  
Short Term ◽  
Number Of Children ◽  
Demographic Processes ◽  
The Impact

Modern society is characterised by clear and distinct demographic processes, such as the constant decline in the number of children born and the ageing population in developed countries, resulting from complex biological, economic, social, political, and other factors. Demographic changes observed through population ageing have an impact on the economy and inflation. Therefore, the aim of this paper is to examine the impact of population ageing on inflation in Economic and Monetary Union (EMU) countries. The paper?s authors used data from 1970 to 2016. The ARDL approach was used to test the long- and short-term relationship between population ageing and inflation. The results showed a positive relationship between population ageing and inflation in the long term and a negative relationship in the short term. The ageing population decreases inflation in the short term and increases inflation in the long term.

scholarly journals Does debt predict growth? An empirical analysis of the relationship between total debt and economic output

2015 ◽  
Vol 4 (2) ◽  
pp. 79 ◽  
Author(s):  
Willem Vanlaer ◽  
Wim Marneffe ◽  
Lode Vereeck ◽  
Johan Vanovertveldt
Keyword(s):  
Economic Growth ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Short Term ◽  
Debt Accumulation ◽  
Economic Output ◽  
Total Level ◽  
Private Credit ◽  
The Impact

Although the recent global financial crisis has stimulated a vast amount of research on the impact of public debt on economic growth and also increasingly on the role of private credit, the total levels of indebtedness of an economy have largely been ignored. This paper studies the impact of the total level of and increases in debt-to-GDP on economic growth for 26 developed countries in the short, medium and longer term. We analyse whether we can predict the future level of growth, simply by looking at the total level of debt, or increases in that debt level. We find that there is a negative correlation between high levels of debt and short term economic growth, but that this effect tapers in the medium and long term. Similarly, we find that rapid debt accumulation is negatively related to economic growth over the short term, the impact is less pronounced over the medium term and is non-existent over the long term.

Do Indian Companies Manage Earnings Before Share Repurchase?

2019 ◽  
Vol 21 (6) ◽  
pp. 1427-1447
Author(s):  
Sarthak Kumar Jena ◽  
Chandra Sekhar Mishra ◽  
Prabina Rajib
Keyword(s):  
Market Share ◽  
Abnormal Return ◽  
Negative Relationship ◽  
Small Sample ◽  
Share Repurchase ◽  
Open Market ◽  
Short Term ◽  
The Impact ◽  
The Relationship

This article aims to detect the opportunistic EM before share buyback and its impact on the short-term and long-term abnormal return. The study also examines the relationship between EM and promoters’ holdings in the company. A sample of 117 companies over 1998–2013 is analyzed in the study. The quality of earnings is measured using discretionary accruals (DAs), and it is calculated by four different methods, that is, the Healy model (1985), DeAngelo model (1986), modified Jones model (1995) and performance-matched model (2005). Cumulative abnormal return (CAR) is calculated for a short-term abnormal return at around 3 days of the share repurchase announcement. Post-buyback buy hold abnormal return (BHAR) for 1 year is calculated for long-term performance. The regression model is used to examine the impact of DA on both CAR and BHAR. The findings of the article show that share buyback companies manage their earnings downward in the previous year of share repurchase than the year of share purchase and the next year of share repurchase. The sample firms deflate their earnings more as compared to matching non-buyback firms. Firms manage their earnings downward before open market share repurchase than the tender offer. There is a significant and negative relationship between abnormal accruals and 1-year buy hold abnormal return post-open market share repurchase. The study further observed that there is a negative relationship between promoters’ holdings and EM. The study is constrained by the small sample size, so the results should be viewed by keeping these limitations in mind. The article is the first study on the detection of the opportunistic EM before buyback and examination of the relationship between the earnings quality and abnormal return in the Indian context.

Do working capital management practices influence investment and financing patterns of firms?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ahsan Akbar ◽  
Xinfeng Jiang ◽  
Minhas Akbar
Keyword(s):  
Capital Structure ◽  
Negative Relationship ◽  
Capital Management ◽  
Working Capital ◽  
Short Term ◽  
Working Capital Management ◽  
Content Type ◽  
Investment And Financing ◽  
The Impact

PurposeThe present study aims to investigate the impact of working capital management (WCM) practices on the investment and financing patterns of listed nonfinancial companies in Pakistan for a span of 10 years.Design/methodology/approachThe study is based on secondary financial data of 354 listed nonfinancial Pakistani firms during the period of 2005–2014. The two-step generalized method of moment (GMM) regression estimation technique is employed to ensure the robustness of results.FindingsEmpirical testing reveals that: excessive funds tied up in working capital have a negative impact on the investment portfolio of sample firms. Besides, a negative relationship between change in fixed assets and excess net working capital posits that, eventually, firms use idle resources tied up in short-lived assets to boost their investment activities. Furthermore, larger working capital levels were associated with higher leverage ratio which indicates that firms with inefficient WCM policies have to rely heavily on long-term debt to meet their short-term financing requirements. Additional results indicate that firms that take more time to sell inventory and convert receivables to cash, make more use of debt. Results of cash management models illustrate that cash-rich firms have lower leverage levels which signal the strong financial health and internal revenue generation capability of such firms.Originality/valueThere is a dearth of empirical studies that examine the implications of WCM decisions on a firm's capital structure. Besides, these studies are only confined to how a WCM policy influences the long-term investment activities of a firm. The research contributes to the extant literature by empirically revealing a link between the WCM practices and the firm's long-range investment and financing patterns. Hence, financial managers shall account for the impact of their short-term financial management decisions on the capital structure of the firm.

The impact of age on patients undergoing transthoracic esophagectomy for cancer

2020 ◽  
Author(s):  
Anantha Madhavan ◽  
Sivesh K Kamarajah ◽  
Maziar Navidi ◽  
S Wahed ◽  
Arul Immanuel ◽  
...  
Keyword(s):  
Overall Survival ◽  
Length Of Stay ◽  
Neoadjuvant Treatment ◽  
Ageing Population ◽  
Transthoracic Esophagectomy ◽  
Short Term ◽  
Term Survival ◽  
Long Term Survival ◽  
The Impact

Summary To compare long-term and short-term outcomes in patients <70 years old with those ≥ 70 years old, who underwent transthoracic esophagectomy for carcinoma. With an ageing population more patients, with increasing co-morbidities are being diagnosed with potentially curable esophageal cancer. Concerns exist regarding offering older patients esophagectomy, conversely undue prejudice may exists that may prevent surgery being offered. Consecutive patients from a single unit between January 2000 and July 2016 that underwent trans-thoracic esophagectomy with or without neoadjuvant treatment for carcinoma were included. Short-term outcomes including morbidity, mortality, length of stay and long-term survival were compared between those <70 and those ≥ 70. This study identified 992 patients who underwent esophagectomy during the study period, of which 302 (30%) ≥ 70 years old. Greater proportion ≥ 70 years old had SCC (squamous cell carcinoma) (23%) than <70 (18%) (p = 0.07). Patients ≥ 70 years old were noted to have higher ASA Grade 3 (34% vs 25%, p = 0.004) and were less likely to receive neoadjuvant treatment (64% vs 45% p<0.001). Length of stay was longer in ≥ 70 (14 vs 17 days p<0.001), and there were more complications (63% vs 75% p<0.001). In hospital mortality was higher in ≥ 70 (2% vs 5% p = 0.026). Overall survival was 50 months in <70 vs 36 months in ≥ 70 (p = <0.001). In <70s with adenocarcinoma, overall survival was 52 months vs 35 months in the ≥ 70 (p<0.001). No significant difference in survival in patients with SCC, 49 months in <70 vs 54 months in ≥ 70 (p = 0.711). Increased peri-operative morbidity and mortality combined with the reduction in the long term survival in the over 70s cohort should be addressed when counselling patients undergoing curative resection for oesophageal cancer.

scholarly journals Energy Transition in Aviation: The Role of Cryogenic Fuels

Aerospace ◽  
2020 ◽  
Vol 7 (12) ◽  
pp. 181
Author(s):  
Arvind Gangoli Rao ◽  
Feijia Yin ◽  
Henri Werij
Keyword(s):  
Energy Transition ◽  
Modern Society ◽  
Liquefied Natural Gas ◽  
Long Term Effects ◽  
Short Term ◽  
Energy Carriers ◽  
The Impact ◽  
Very High

Aviation is the backbone of our modern society. In 2019, around 4.5 billion passengers travelled through the air. However, at the same time, aviation was also responsible for around 5% of anthropogenic causes of global warming. The impact of the COVID-19 pandemic on the aviation sector in the short term is clearly very high, but the long-term effects are still unknown. However, with the increase in global GDP, the number of travelers is expected to increase between three- to four-fold by the middle of this century. While other sectors of transportation are making steady progress in decarbonizing, aviation is falling behind. This paper explores some of the various options for energy carriers in aviation and particularly highlights the possibilities and challenges of using cryogenic fuels/energy carriers such as liquid hydrogen (LH2) and liquefied natural gas (LNG).

scholarly journals HOW TENURE OF SUKUK ISSUANCES IMPACTS THE ECONOMIC GROWTH IN MALAYSIA?

2019 ◽  
Vol 1 (1) ◽  
pp. 01-12
Author(s):  
Siti Sarah Mohd Zaki Fadzil ◽  
Noraziah Che Arshad
Keyword(s):  
Economic Growth ◽  
Central Bank ◽  
Positive Relationship ◽  
Time Series Data ◽  
Negative Relationship ◽  
Unit Root Test ◽  
Series Data ◽  
Short Term ◽  
The Impact

The present paper analyses the impact of Sukuk issuances on the economic growth of Malaysia over a period of 10 years from 2008 to 2017 on a yearly basis. There are six different types of Sukuk issuances which includes the long-term government/treasury/central bank (LGTC), long-term corporate (LCTE), long-term agency (LAGY), short-term government/treasury/central bank (SGTC), short-term corporate (SCTE) and short-term agency (SAGY) with the presences of the moderating variable which is the exchange rate (ER). The 10 years’ time-series data were analyzed by using the diagnostic test, unit root test and multiple regression analysis. The outcome of the study indicates that the presence of the ER, LCTE, SGTC, SCTE, and SAGY found to have a significant and positive relationship with the economic growth (GDP) of Malaysia. However, LGTC found not to be significant but shows a positive relationship with the GDP in Malaysia, whilst LAGY is found to be significant but shows a negative relationship with the GDP in Malaysia. Therefore, the Sukuk issuances give an impact on the economic growth of Malaysia, whereby with the presences of the moderating variable, the long-term and short-term Sukuk issuances can spur the economic growth of Malaysia.

Risk Attitude and Corporate Investment under Output Market Uncertainty: Evidence from The Mekong River Delta, Vietnam

2016 ◽  
pp. 59-70
Author(s):  
Ninh Le Khuong ◽  
Nghiem Le Tan ◽  
Tho Huynh Huu
Keyword(s):  
Negative Relationship ◽  
Risk Attitude ◽  
Business Strategies ◽  
Risk Averse ◽  
Market Uncertainty ◽  
Firm Investment ◽  
Output Market ◽  
The Impact ◽  
The Relationship

This paper aims to detect the impact of firm managers’ risk attitude on the relationship between the degree of output market uncertainty and firm investment. The findings show that there is a negative relationship between these two aspects for risk-averse managers while there is a positive relationship for risk-loving ones, since they have different utility functions. Based on the findings, this paper proposes recommendations for firm managers to take into account when making investment decisions and long-term business strategies as well.

SUMBER-SUMBER RESILIENSI PADA REMAJA AKHIR YANG MENGALAMI KEKERASAN DARI ORANGTUA PADA MASA KANAK-KANAK

Psibernetika ◽  
2018 ◽  
Vol 11 (1) ◽  
Author(s):  
Devina Calista ◽  
Garvin Garvin
Keyword(s):  
Late Adolescents ◽  
Long Term Effects ◽  
Short Term ◽  
Parental Affection ◽  
Resilience Factors ◽  
Childhood Violence ◽  
Past Experiences ◽  
The Impact ◽  
Depth Interviews

<p><em>Child abuse by parents is common in households. The impact of violence on children will bring short-term effects and long-term effects that can be attributed to their various emotional, behavioral and social problems in the future; especially in late adolescence that will enter adulthood. Resilience factors increase the likelihood that adolescents who are victims of childhood violence recover from their past experiences</em><em>,</em><em> become more powerful individuals and have a better life. The purpose of this study was to determine the source of resilience in late adolescents who experienced violence from parents in their childhood. This research uses qualitative research methods with in-depth interviews as a method of data collection. The result shows that the three research participants have the aspects of "I Have", "I Am", and "I Can"; a participant has "I Can" aspects as a source of resilience, and one other subject has no source of resilience. The study concluded that parental affection and acceptance of the past experience have role to the three sources of resilience (I Have, I Am, and I Can)</em></p><p><em> </em></p><p><strong><em>Keyword : </em></strong><em>Resilience, adolescence, violence, parents</em></p>

scholarly journals Anti-meningococcal B vaccination in Italian adolescents: a cost-effective health opportunity

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
D Panatto ◽  
P Landa ◽  
D Amicizia ◽  
P L Lai ◽  
E Lecini ◽  
...  
Keyword(s):  
Large Scale ◽  
Public Health Problem ◽  
Vaccination Strategy ◽  
Cost Effective ◽  
Dose Schedule ◽  
Developed Countries ◽  
Invasive Disease ◽  
International Setting ◽  
The Impact

Abstract Background Invasive disease due to Neisseria meningitidis (Nm) is a serious public health problem even in developed countries, owing to its high lethality rate (8-15%) and the invalidating sequelae suffered by many (up to 60%) survivors. As the microorganism is transmitted via the airborne route, the only available weapon in the fight against Nm invasive disease is vaccination. Our aim was to carry out an HTA to evaluate the costs and benefits of anti-meningococcal B (MenB) vaccination with Trumenba® in adolescents in Italy, while also considering the impact of this new vaccination strategy on organizational and ethics aspects. Methods A lifetime Markov model was developed. MenB vaccination with the two-dose schedule of Trumenba® in adolescents was compared with 'non-vaccination'. Two perspectives were considered: the National Health Service (NHS) and society. Three disease phases were defined: acute, post-acute and long-term. Epidemiological, economic and health utilities data were taken from Italian and international literature. The analysis was conducted by means of Microsoft Excel 2010®. Results Our study indicated that vaccinating adolescents (11th year of life) with Trumenba® was cost-effective with an ICER = € 7,912/QALY from the NHS perspective and € 7,758/QALY from the perspective of society. Vaccinating adolescents reduces the number of cases of disease due to meningococcus B in one of the periods of highest incidence of the disease, resulting in significant economic and health savings. Conclusions This is the first study to evaluate the overall impact of free MenB vaccination in adolescents both in Italy and in the international setting. Although cases of invasive disease due to meningococcus B are few, if the overall impact of the disease is adequately considered, it becomes clear that including anti-meningococcal B vaccination into the immunization program for adolescents is strongly recommended from the health and economic standpoints. Key messages Free, large-scale MenB vaccination is key to strengthening the global fight against invasive meningococcal disease. Anti-meningococcal B vaccination in adolescents is a cost-effective health opportunity.

Forecasting Revenue Impacts from COVID-19: The Case of Florida Municipalities

2021 ◽  
pp. 0160323X2110120
Author(s):  
Hai (David) Guo ◽  
Can Chen
Keyword(s):  
Local Government ◽  
Short Term ◽  
Fiscal Planning ◽  
Revenue Structure ◽  
Municipal Managers ◽  
The Impact

Early in the pandemic, Florida municipal managers indicated that forecasting the impact on local revenues was one of their top priorities in responding to the pandemic, yet such a tool has not been widely available. This study offers simple and straightforward fiscal planning guides for assessing the short-term and long-term impacts of the COVID 19 recession on local government revenues by estimating the revenue declines among 411 Florida municipalities from FY 2021 to FY 2023. The forecast results predict revenues will be reduced by $5.11 billion from 2019 pre-pandemic levels for Florida cities in fiscal years 2021 through 2023. The decline is forecast to be 3.54 percent in FY 2021, 4.02 percent in FY 2022, and 3.29 percent in FY 2023. The revenue structure matters for estimating the revenue decline.

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