scholarly journals A Dynamic Resourced Based View on Firms Life Cycle Stages and Capital Structure Theories: A Comparative Analysis of Developed and Emerging Asian Markets

2020 ◽  
Vol V (II) ◽  
pp. 61-69
Author(s):  
Misbah Wadood ◽  
Hashim Khan ◽  
Hassan Wadood
Keyword(s):  
Comparative Analysis ◽  
Emerging Markets ◽  
Explanatory Power ◽  
Organizational Capabilities ◽  
Resource Based View ◽  
Book Value ◽  
Explanatory Variables ◽  
Explanatory Factors ◽  
Life Cycle Stages ◽  
Dynamic Resource

Dynamic resource-based view is the major inspiration for this study, which signifies the changes in paths and patterns of the evolution in organizational capabilities during its LCS. Using the Dickinson's (2011) firm's LCS, the study determined diverse behavior of traditionally established explanatory variables across stages. For the purpose of analysis GMM model has been used, the study conducted a comparative analysis of developed and emerging markets in Asia. The results showed higher COE capital during introduction and decline stages in emerging markets implying trade-off theory and dynamic resource-based view. Study denies association between COE capital and market-to-book value in developed markets in line with market timing theory Its concluded that COE's explanatory factors evolve across markets and firm's LCS the explanatory power of the general model is much higher when the study included LCS in its main model justifying resource-based view.

Russia in International Capital Movement: Comparative Analysis

2011 ◽  
pp. 66-76 ◽  
Author(s):  
A. Bulatov
Keyword(s):  
Comparative Analysis ◽  
Emerging Markets ◽  
Economic Model ◽  
Accumulation Rate ◽  
Capital Movement ◽  
International Capital ◽  
International Capital Movement

The article tries to reveal specific features of Russias participation in international capital movement in comparison with other emerging markets. Peculiarities of outflow and inflow of capital in Russia are considered as consequences of specifics of its economic model. Proposals on using international capital movement for the increase of accumulation rate in Russia are put forward.

scholarly journals Correlating elements content in mosses collected in 2015 across Germany with spatially associated characteristics of sampling sites and their surroundings

2019 ◽  
Vol 31 (1) ◽  
Author(s):  
Stefan Nickel ◽  
Winfried Schröder
Keyword(s):  
Land Use ◽  
Population Density ◽  
Atmospheric Deposition ◽  
Vegetation Structure ◽  
Urban Areas ◽  
Explanatory Power ◽  
Spatial Density ◽  
Area Index ◽  
Explanatory Variables ◽  
Tree Layer

Abstract Background The aim of the study was a statistical evaluation of the statistical relevance of potentially explanatory variables (atmospheric deposition, meteorology, geology, soil, topography, sampling, vegetation structure, land-use density, population density, potential emission sources) correlated with the content of 12 heavy metals and nitrogen in mosses collected from 400 sites across Germany in 2015. Beyond correlation analysis, regression analysis was performed using two methods: random forest regression and multiple linear regression in connection with commonality analysis. Results The strongest predictor for the content of Cd, Cu, Ni, Pb, Zn and N in mosses was the sampled species. In 2015, the atmospheric deposition showed a lower predictive power compared to earlier campaigns. The mean precipitation (2013–2015) is a significant factor influencing the content of Cd, Pb and Zn in moss samples. Altitude (Cu, Hg and Ni) and slope (Cd) are the strongest topographical predictors. With regard to 14 vegetation structure measures studied, the distance to adjacent tree stands is the strongest predictor (Cd, Cu, Hg, Zn, N), followed by the tree layer height (Cd, Hg, Pb, N), the leaf area index (Cd, N, Zn), and finally the coverage of the tree layer (Ni, Cd, Hg). For forests, the spatial density in radii 100–300 km predominates as significant predictors for Cu, Hg, Ni and N. For the urban areas, there are element-specific different radii between 25 and 300 km (Cd, Cu, Ni, Pb, N) and for agricultural areas usually radii between 50 and 300 km, in which the respective land use is correlated with the element contents. The population density in the 50 and 100 km radius is a variable with high explanatory power for all elements except Hg and N. Conclusions For Europe-wide analyses, the population density and the proportion of different land-use classes up to 300 km around the moss sampling sites are recommended.

MBAR Models: A Test of ARIMAX Modelling

2011 ◽  
Vol 14 (02) ◽  
pp. 347-366
Author(s):  
Anastasia Maggina
Keyword(s):  
Loss Function ◽  
Stock Exchange ◽  
Explanatory Power ◽  
Accounting Earnings ◽  
Explanatory Variables ◽  
Minimum Value ◽  
Standard Models ◽  
Athens Stock Exchange ◽  
Squared Residuals ◽  
Earnings Change

The main purpose of this paper is to provide evidence on some of the standard models of accounting earnings and returns relations mainly collected through the literature. Standard models such as earnings level and earnings changes, among others, have been investigated in this study. Models that correspond better to the data drawn from the Athens Stock Exchange have been selected. Models I, II, V, VII and IX have statistically significant coefficients of explanatory variables. In addition, model II with the MSE (minimum value of squared residuals) loss function in ARIMAX (2,0,2) is prevalent. Models that include prior earnings in various forms using levels, changes in price and changes in earnings, change in price to beginning price, lagged parameters and differentiated price models have statistically significant explanatory power.

Benchmarking the practices of flexibility with maturity models and frameworks of organizational capabilities

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sanjai Kumar Shukla ◽  
Sushil
Keyword(s):  
Information Technology ◽  
Comparative Analysis ◽  
Business Environment ◽  
Organizational Capabilities ◽  
Maturity Model ◽  
Human Capabilities ◽  
Maturity Models ◽  
Content Type ◽  
Wide Range ◽  
Flexibility Maturity

PurposeOrganizational capabilities are crucial to achieve the objectives. A plethora of maturity models is available to guide organizational capabilities that create a perplexing situation about what stuff to improve and what to leave. Therefore, a unified maturity model addressing a wide range of capabilities is a necessity. This paper establishes that a flexibility maturity model is an unified model containing the operational, strategic and human capabilities.Design/methodology/approachThis paper does a comparative analysis/benchmarking studies of different maturity models/frameworks widely used in the information technology (IT) sector with respect to the flexibility maturity model to establish its comprehensiveness and application in the organization to handle multiple goals.FindingsThis study confirms that the flexibility maturity model has the crucial elements of all the maturity models. If the organizations use the flexibility maturity model, they can avoid the burden of complying with multiple ones and become objective-driven rather than compliance-driven.Research limitations/implicationsThe maturity models used in information technology sectors are used. This work will inspire other maturity models to adopt flexibility phenomena.Practical implicationsThe comparative analysis will give confidence in application of flexibility framework. The business environment and strategic options across organizations are inherently different that the flexibility maturity model well handles.Social implicationsA choice is put to an organization to see the comparison tables produced in this paper and choose the right framework according to the prevailing business situation.Originality/valueThis is the first study that makes a conclusion based on comparative benchmarking of existing maturity models.

Explaining the directionality of gang violence with court records

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gisela Bichler ◽  
Alexis Norris ◽  
Citlalik Ibarra
Keyword(s):  
Los Angeles ◽  
Competitive Advantage ◽  
Crime Control ◽  
Explanatory Power ◽  
Internal Conflict ◽  
Quadratic Assignment ◽  
Gang Violence ◽  
Content Type ◽  
Court Records ◽  
Explanatory Factors

Purpose Studies of gang violence typically use police reports to investigate the structure of gang conflict, but overreliance on a singular data source could impede crime control efforts. Extending networked criminology, this study aims to explore what court records reveal about the directionality of gang conflicts. Design/methodology/approach Controlling for the presence of a civil gang injunction (CGI), the authors use multivariate quadratic assignment procedure regression models to disentangle factors thought to account for structural patterns of gang violence mapped from 933 prosecutions involving 307 gangs associated with violent conflict affecting the City of Los Angeles (1998–2013). Specifically, the authors compare competitive advantage to the explanatory power of turf proximity. Findings One measure of turf proximity outperforms all other explanatory factors – gangs with turf centrally positioned in a turf adjacency matrix are significantly more likely to launch attacks, be victimized and exhibit the highest levels of imbalance in their violent involvements. Regarding competitive advantage, the number of cliques and level of internal conflict are significant. Finally, being subject to a CGI is associated with initiating violence. Originality/value Court cases offer a feasible alternative to police data when investigating patterns of intergroup street gang violence.

scholarly journals Simulation evidence on the properties of alternative measures of working capital accruals

2017 ◽  
Vol 25 (4) ◽  
pp. 378-394
Author(s):  
Javad Izadi Zadeh Darjezi ◽  
Homagni Choudhury ◽  
Alireza Nazarian
Keyword(s):  
Cash Flow ◽  
Estimation Error ◽  
Explanatory Power ◽  
Cash Flows ◽  
Working Capital ◽  
Accrual Quality ◽  
Content Type ◽  
Explanatory Variables ◽  
Study Results ◽  
The Uk

Purpose This paper aims to investigate the specification and power of tests based on the DD and modified DD model through the UK data between years 2000 and 2013, and make comparisons with tests using working capital accruals creating a measure of accruals quality as the standard deviation of the residuals value from firm-specific regressions base on working capital accruals on last, current and one-year-ahead cash flows from operations. Design/methodology/approach This study focuses both on the DD model and modified DD model to find out which of them can more accurately capture total working capital accrual estimation error and accrual quality. According to the DD model, the past, current and future net cash from operating activities as the three years’ operating cash inflows or outflows become omitted and correlated variables. In this study, the authors continue to document residuals from the DD and MDD models to demonstrate properties that are more consistent with behaviours of accruals estimation errors. Therefore, in this study, the authors are looking to compare the results from both the MDD and DD models and find which one of them is more effective in explaining the working capital accruals in the UK. Findings The authors find that adding additional explanatory variables may add additional explanatory power of variables to the DD model and extent to which accruals map into cash flow insights based on the UK data. This study is empirically well fitting with the internal workings of cash flows. As investors fixate only on the accounting earnings, they may fail to reflect fully on information contained within cash flow components and working capital accruals of current and future earnings. Originality/value The authors compare different equation to cover more items of working capital accruals. In addition, after examining earnings and accrual quality, the findings show that the average UK company behaviour was quite similar to the behaviour that was founded earlier for both models in the USA. Furthermore, this study results show that more volatility of sales, cash flow, accruals and earnings make a lower accrual quality. The results demonstrate that both models can capture the power to predict working capital accruals. Moreover, we find that adding additional explanatory variable of employee growth rate adds additional explanatory variables to DD model.

scholarly journals Generalized linear models with random effects for the description of data with excess zeros

2011 ◽  
Vol 54 (6) ◽  
pp. 661-675
Author(s):  
N. Mielenz ◽  
K. Thamm ◽  
M. Bulang ◽  
J. Spilke
Keyword(s):  
Random Effects ◽  
Negative Binomial Distribution ◽  
Binomial Distribution ◽  
Linear Models ◽  
Negative Binomial ◽  
Detailed Comparison ◽  
Response Scale ◽  
Explanatory Variables ◽  
Excess Zeros ◽  
Explanatory Factors

Abstract. In this paper count data with excess zeros and repeated observations per subject are evaluated. If the number of values observed for the zero event in the trial substantially exceeds the expected number (derived from the Poisson or from the negative binomial distribution), then there is an excess of zeros. Hurdle and zero-inflated models with random effects are available in order to evaluate this type of data. In this paper both model approaches are presented and are used for the evaluation of the number of visits to the feeder per cow per hour. Finally, for the analysis of the target trait a hurdle model with random effects based on a negative binomial distribution was used. This analysis was derived from a detailed comparison of models and was needed because of a simpler computer implementation. For improved interpretation of the results, the levels of the explanatory factors (for example, the classes of lactation) were not averaged in the link scale, but rather in the response scale. The deciding explanatory variables for the pattern of visiting activities in the 24-hour cycle are the milking and cleaning times at hours 4, 7, 12 and 20. The highly significant differences in the visiting frequencies of cows of the first lactation and those of higher lactations were explained by competition for access to the feeder and thus to the feed.

scholarly journals Sustainable Business Models – What Do Management Theories Say?

2016 ◽  
pp. 62-72
Author(s):  
Gyula Zilahy
Keyword(s):  
Business Models ◽  
Industrial Ecology ◽  
Explanatory Power ◽  
Sharing Economy ◽  
Sharp Reduction ◽  
Sustainable Business ◽  
Resource Based View ◽  
Theoretical Approaches ◽  
Sustainable Business Models ◽  
Theoretical Foundations

Literature describing the notion and practice of business models has grown considerably over the last few years. Innovative business models appear in every sector of the economy challenging traditional ways of creating and capturing value. However, research describing the theoretical foundations of the field is scarce and many questions still remain. This article examines business models promoting various aspects of sustainable development and tests the explanatory power of two theoretical approaches, namely the resource based view of the firm and transaction cost theory regarding their emergence and successful market performance. Through the examples of industrial ecology and the sharing economy the author shows that a sharp reduction of transaction costs (e.g. in the form of internet based systems) coupled with resources widely available but not utilised before may result in fast growing new markets. This research also provides evidence regarding the notion that these two theoretical approaches can complement each other in explaining corporate behaviour.

scholarly journals A comparative study of the performance of Saudi mutual funds

2016 ◽  
Vol 13 (4) ◽  
pp. 89-102 ◽  
Author(s):  
Ahmed El-Masry ◽  
Dalia A. El-Mosallamy
Keyword(s):  
Emerging Markets ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Emerging Market ◽  
Explanatory Power ◽  
Fund Performance ◽  
The Other ◽  
Equity Fund ◽  
Evaluation Measures ◽  
Market Portfolio

This study examines the performance of 21 Saudi mutual funds using the CAPM and downside CAPM D-CAPM models over the period 2005-2011. Initially equity fund performance is examined against two benchmarks TASI and the GCCI Islamic index utilizing the traditional beta and CAPM performance evaluation measures. The evaluation is then replicated utilizing the downside beta and other tests of funds’ performance derived from the CAPM in the down side framework. The results indicate that the downside beta could be more relevant in terms of its higher explanatory power than the traditional beta and thus CAPM in the downside framework could be more relevant to report on funds’ performance in this emerging market. After exploring the aggregate performance by forming two fund portfolios; one representing the average Islamic mutual fund and the other is the average conventional fund, to examine the performance of the Islamic mutual funds portfolio compared to its conventional peers and to the overall market, the study finds, on average, Islamic mutual funds in outperform conventional mutual funds and the market portfolio. The study concludes that it is equally important for practitioners in emerging markets, to report performance using both CAPM measures and D-CAPM measures and if differences exist, then the D-CAPM could be the superior measure because of its suitability to the asymmetrical distribution of returns existing in emerging markets in general.

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