scholarly journals Can China’s Aging Population Sustain Its Entrepreneurship? Evidence of Nonlinear Effects

2020 ◽  
Vol 12 (8) ◽  
pp. 3434
Author(s):  
Hongying Yang ◽  
Jin Yu ◽  
Ching-Hui (Joan) Su ◽  
Ming-Hsiang Chen ◽  
Dahui Zhou
Keyword(s):  
Fixed Effects ◽  
Empirical Studies ◽  
Generalized Method Of Moments ◽  
Nonlinear Effects ◽  
Aging Population ◽  
Ordinary Least Squares ◽  
Positive Effects ◽  
Self Employment ◽  
Managerial Implications ◽  
Using Data

This article examines the effects of China’s aging population (in terms of the old-age dependency rate (OADR)) on entrepreneurship (in terms of dimensions of innovation (IE) and self-employment (BE)) using data from 30 provinces from 2003 to 2017. Contrary to a widespread pessimistic interpretation that describes an aging population as merely a burden on entrepreneurship, this paper illustrates some positive effects of China’s aging population on entrepreneurship in terms of IE and BE. Moreover, we introduce and test the nonlinear relationship between OADR and IE/BE. Our simple panel regression model can be utilized not only to understand the inverted U-shaped effects of an aging population on entrepreneurship, by using the ordinary least squares (OLS) method and fixed-effects (FE) in our empirical studies and the system generalized method of moments (SYSGMM) in the robustness check, but also to provide managerial implications by pointing out the “optimal OADR” and the comparative regional aging situation.

Exploring the nonlinear effect of size on profitability: evidence from an insurance brokerage industry in an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Angelous Kotey ◽  
Richard Akomatey ◽  
Baah Aye Kusi
Keyword(s):  
Nonlinear Effect ◽  
Emerging Market ◽  
Empirical Studies ◽  
Random Effect ◽  
Generalized Method Of Moments ◽  
Ordinary Least Squares ◽  
Growth Strategies ◽  
Content Type ◽  
And Performance ◽  
Brokerage Firms

PurposeThis study examines the possible nonlinear effect of size on stakeholder and shareholder profitability in the Ghanaian insurance brokerage industry.Design/methodology/approachThis study employs a panel dataset of 64 Ghanaian insurance brokerage firms spanning 2011–2015. Static [ordinary least squares (OLS), fixed effect and random effect and dynamic (two-step generalized method of moments (GMM))] estimation techniques are employed to analyze the data.FindingsThe study finds the existence of both economies and diseconomies of scale and scope theories in the Ghanaian insurance brokerage industry confirming the existence of nonlinear nexus between size and performance. This finding is consistent for both stakeholder and shareholder profit performance. Thus, the results show that size improves profitability of insurance brokerage firms, but beyond a certain threshold, the relationship turns negative as size negatively affects profitability.Practical implicationsThe research findings have implications for both policy and research; the study recommends that Ghanaian brokerage managers should understand that not all growth is good and exercise a duty of care when applying growth strategies by monitoring size effect on performance so as not to go beyond the inflection point. Further research can be done to examine this effect in other contexts, timeframes and jurisdictions.Originality/valueThis research is unique in that it employs a panel dataset consisting of 96% of insurance brokerage firms in Ghana whilst employing both static and nonstatic regression models to examine the effect of size. The research analysis adopted is robust, and the findings are significant. Also, the lack of empirical studies on the operations and dealings of auxiliary institutions such as the insurance brokerage firms adds value to this research.

Shadow Economy, Corruption, and Economic Growth: An Empirical Analysis

2019 ◽  
Vol 47 (3) ◽  
pp. 276-294 ◽  
Author(s):  
Nedra Baklouti ◽  
Younes Boujelbene
Keyword(s):  
Economic Growth ◽  
Least Squares ◽  
Public Administration ◽  
Method Of Moments ◽  
Fixed Effects ◽  
Shadow Economy ◽  
Generalized Method Of Moments ◽  
Ordinary Least Squares ◽  
Negative Effects ◽  
Considerable Debate

There is considerable debate over the effects of both corruption and shadow economy on growth, but few studies have considered how the interaction between them might affect economic growth. We study how corruption levels in public administration affect economic growth and how this effect depends on the shadow economy. Using Ordinary Least Squares (OLS), fixed effects, and system generalized method of moments (GMM) on a dataset of 34 OECD countries over the period 1995-2014. The estimation results indicate that increased corruption and a larger shadow economy lead to decrease in economic growth. Results additionally indicate that the shadow economy magnifies the effect of corruption on economic growth. These results imply significant complementarities between corruption and the shadow economy, suggesting that the reduction of corruption will lead to a fall in the size of the shadow economy and will also reduce the negative effects of corruption on economic growth through the underground economy.

scholarly journals The Determinants of Economic Growth in CEMAC through a Panel Data Approach

2016 ◽  
Vol 4 (2) ◽  
pp. 483
Author(s):  
Nzingoula Gildas Crepin
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Good Governance ◽  
Generalized Method Of Moments ◽  
Central Africa ◽  
Ordinary Least Squares ◽  
Fixed Effects Model ◽  
Main Determinants ◽  
Determinants Of Economic Growth

<div><p><em>This article highlights through a panel data approach the determinants of economic growth; observed over the last decade in the Economic and Monetary Community of Central Africa (CEMAC) and necessary to reach emerging economies stage. To do this, we essentially used Stata 12 software to come up with the results, and a panel data sample comprising six CEMAC member states, namely Congo, Cameroon, Gabon, Equatorial Guinea, Central African Republic and Chad, for the period ranging from 2000 to 2013. The results obtained after estimating ordinary least squares, fixed effects model, random effects model, generalized method of moments (GMM) and specification tests show that the best model to estimate these types of data is the fixed effects model. Besides, the main determinants of economic growth in CEMAC over that period are Foreign Direct Investment (FDI) and loans lending to the economy (LOAN). After estimation, FDI is found positive and significant on economic growth, while LOAN is significant and found negative maybe due to lack of good governance.</em></p></div>

scholarly journals Effect of macroeconomic variables on systemic risk: Evidence from Vietnamese economy

2021 ◽  
Vol 10 (3) ◽  
pp. 217-228
Author(s):  
Thi Xuan Huong Tram ◽  
Nguyen Thi Thanh Hoai
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Interest Rate ◽  
Interest Rates ◽  
Systemic Risk ◽  
Fixed Effects ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
Negative Relationship ◽  
Ordinary Least Squares

This paper aims to find out the relationship between systemic risk in Vietnam and the effects of macroeconomic factors, including exchange rate, interest rates, and economic growth. We collect data from the Vietnamese stock market, specifically 29 listed financial firms (banks, insurance companies, and securities firms) for the period 2010-2018. The analysis is performed in two steps including systematic risk measurement in Vietnam based on the Systemic Expected Shortfall (SES) method and providing evidence from analysis related to the risk determinants assessment. Besides ordinary least squares (OLS) methods, we make use of fixed-effects (FEM) estimations, random-effects (REM) estimations, and system generalized method of moments (SGMM). The empirical evidence in this paper indicates that economic growth has a negative relationship on systemic risk in Vietnam while the exchange rate has a positive impact on systemic risk, and the interest rate has a negative relationship on systemic risk in Vietnam. Future studies can address the effects of interest rate on systemic risk during this period.

scholarly journals feologit: A new command for fitting fixed-effects ordered logit models

2020 ◽  
Vol 20 (2) ◽  
pp. 253-275 ◽  
Author(s):  
Gregori Baetschmann ◽  
Alexander Ballantyne ◽  
Kevin E. Staub ◽  
Rainer Winkelmann
Keyword(s):  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Logit Models ◽  
Ordered Logit ◽  
The Social ◽  
The Standard Model ◽  
Dependent Variables ◽  
Using Data ◽  
New Community ◽  
Time Invariant

In this article, we describe how to fit panel-data ordered logit models with fixed effects using the new community-contributed command feologit. Fixed-effects models are increasingly popular for estimating causal effects in the social sciences because they flexibly control for unobserved time-invariant heterogeneity. The ordered logit model is the standard model for ordered dependent variables, and this command is the first in Stata specifically for this model with fixed effects. The command includes a choice between two estimators, the blowup and cluster (BUC) estimator introduced in Baetschmann, Staub, and Winkelmann (2015, Journal of the Royal Statistical Society, Series A 178: 685–703) and the BUC- τ estimator in Baetschmann (2012, Economics Letters 115: 416–418). Baetschmann, Staub, and Winkelmann (2015) showed that the BUC estimator has good properties and is almost as efficient as more complex estimators such as generalized method-of-moments and empirical likelihood estimators. The command and model interpretations are illustrated with an analysis of the effect of parenthood on life satisfaction using data from the German Socio-Economic Panel.

scholarly journals Global FDI Inflow and Its Implication across Economic Income Groups

2020 ◽  
Vol 13 (11) ◽  
pp. 291
Author(s):  
Udi Joshua ◽  
Mathew Ekundayo Rotimi ◽  
Samuel Asumadu Sarkodie
Keyword(s):  
Economic Growth ◽  
Fixed Effects ◽  
Trade Openness ◽  
Generalized Method Of Moments ◽  
Income Group ◽  
Ordinary Least Squares ◽  
Business Environment ◽  
Positive Influence ◽  
Panel Estimation ◽  
The Impact

Foreign direct investment (FDI) as a driver of growth is important in today’s globalized economy. It is extremely difficult for economies to grow sustainably without economic interactions outside their borders. However, there has been a debate on the impact of FDI inflow on economic expansion. Hence, this study investigated the influence of FDI on economic growth for a selection of 200 economies around the world for the period 1990–2018. We subdivided the sample into World Bank income group clusters to aid comparison across income blocs. The study employed panel estimation techniques including pooled ordinary least squares (POLS), dynamic panel estimation with fixed-effects and random-effects and generalized method of moments (GMM). The study found that FDI, debt stock and official development assistance are promoters of growth in the selected countries—although debt stock weakly impacts economic growth. In contrast, trade openness and exchange rates had a mixed (negative and positive) influence on economic growth. The study suggests that the creation of a conducive business environment and economic policies will attract FDI inflows. Additionally, borrowing from external sources could be minimized despite its perceived positive influence on growth to achieve financial independence.

Benchmarking Mobile Operators Using DEA

2012 ◽  
pp. 87-103
Author(s):  
Belén Usero ◽  
Grigorios Asimakopoulos
Keyword(s):  
Empirical Studies ◽  
Telecommunications Industry ◽  
Data Envelopment ◽  
East European ◽  
Mobile Industry ◽  
European Union Countries ◽  
Measuring Efficiency ◽  
Managerial Implications ◽  
Using Data ◽  
Market Saturation

Improving efficiency is becoming crucially important for the European mobile industry due to the increased competition and market saturation over the last years. However, even though there exist diverse studies measuring efficiency using Data Envelopment Analysis (DEA) in wire telecommunications, there is a lack of empirical studies measuring the efficiency of the mobile operators. This chapter first outlines the main techniques that are used to measure efficiency of mobile operators. Second, the chapter reviews the use of DEA in the telecommunications industry. Third, the au thors estimate the efficiency of more than seventy European mobile companies between 2007 and 2009. The findings of the DEA employed indicate that the least efficient mobile operators belong to recently joined European Union countries or South East European countries. Finally, they draw the conclusions together with policy and managerial implications based on the DEA results.

scholarly journals Are Leaders’ Perceptions of Organizational Politics Worsening Favorable Employee Outcomes? The Role of Ethical Leadership

2021 ◽  
Vol 13 (19) ◽  
pp. 10767
Author(s):  
Soojin Lee ◽  
Jinhee Kim ◽  
Gukdo Byun
Keyword(s):  
Ethical Leadership ◽  
Organizational Citizenship Behavior ◽  
Empirical Studies ◽  
Organizational Politics ◽  
Citizenship Behavior ◽  
Future Research ◽  
Negative Effects ◽  
Positive Effects ◽  
Perceptions Of Organizational Politics ◽  
Using Data

Researchers have conducted many empirical studies on the positive effects of ethical leadership. However, they have paid little attention to the antecedents of ethical leadership. This study sought to fill this gap by examining the negative effects of leaders’ perceptions of organizational politics on ethical leadership and the job performance of employees. Accordingly, this study investigated the relationships among them using data collected from 220 dyads of leaders and followers in major companies in South Korea. The results showed that leaders’ perceptions of organizational politics negatively affected their ethical leadership, which, in turn, had an adverse impact on the task performance and organizational citizenship behavior of employees. This paper also provides the theoretical and applied implications of the findings as well as future research directions.

scholarly journals The relationship between working capital and profitability – evidence from listed food & beverages companies in vietnam

2020 ◽  
Vol 4 (3) ◽  
pp. First
Author(s):  
Hàng Lê Cẩm Phương ◽  
Hoang Minh Chau
Keyword(s):  
Fixed Effects ◽  
Ordinary Least Squares ◽  
Negative Influence ◽  
Fixed Effects Model ◽  
Working Capital ◽  
Cash Conversion Cycle ◽  
Operating Profit ◽  
Food And Beverage ◽  
Using Data ◽  
The Relationship

The study explores the relationship between working capital and profitability using data collected from the financial statements of 17 food and beverage companies listed on HOSE and HNX from 2008 to 2017. The three models used in this research are Pooled Ordinary Least Squares, Fixed Effects Model (FEM), Random Effects Model (REM). The results of the model tests show that REM is the most suitable. To enhance the reliability and efficiency of the model, we conduct robustness tests. The findings indicate the presence of heteroskedasticity in the model. Therefore, the adjusted REM with the GLS method is used to handle this issue. The results of the regression analysis reveal that when the average collection period increases, gross operating profit (GOP) decreases and return on assets (ROA) increases; the average payment period has a negative influence on ROA; cash conversion cycle has a negative influence on GOP and when the inventory period increases, ROA and GOP decrease.

Effects of inequality on total factor productivity : exploring the technical efficiency channel in South Africa

2020 ◽  
Vol 15 (4) ◽  
pp. 97-122
Author(s):  
Delphin Kamanda Espoir ◽  
Nicholas Ngepah
Keyword(s):  
South Africa ◽  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Stochastic Frontier ◽  
Likelihood Estimation ◽  
Political Stability ◽  
Factor Productivity ◽  
Positive Effects

A number of empirical studies have attempted to understand the effects of inequality on productivity through various channels such as human capital and political stability but have overlooked the efficiency linkage. This study utilises a stochastic frontier approach and a single-stage maximum likelihood estimation of a true fixed effects and true random effects model to investigate the effects of inequality on total factor productivity across the 52 districts of South Africa. The results obtained from the baseline regressions indicate that inequality has positive effects on technical inefficiency. This implies that an increase in inequality would exerts a negative effect on technical efficiency and therefore total factor productivity. In order to mitigate the negative effects, the study suggests that a mixture of pro-poor policies should be accentuated, as they might positively increase the earnings of those who are at the bottom of the distribution.

Sign in / Sign up

Export Citation Format

Share Document