Search results

1 – 10 of 63
Article
Publication date: 1 January 2010

James Mixon

Model estimation gives students insights beyond what they can gain from textbook presentations. This paper introduces a way to make doing this easier and more effective. It…

1704

Abstract

Purpose

Model estimation gives students insights beyond what they can gain from textbook presentations. This paper introduces a way to make doing this easier and more effective. It introduces the program Gnu Regression, Econometrics and Time‐series Library (GRETL) which may be downloaded free of charge, and which students can place on their computers quickly and easily. Using GRETL to produce ordinary least squares (OLS) estimates is an easy, intuitive exercise. Therefore, instructors may assign such exercises without taking a large amount of time to introduce the computer and OLS estimation. GRETL, though designed to facilitate instruction, has grown into a full econometrics package that instructors can use as a research tool as well as an instructional aid.

Design/methodology/approach

The paper provides an overview of GRETL's accessibility and its capabilities. Next it addresses the use of GRETL for instructional purposes. Then it shows how GRETL can be used as a research tool.

Findings

The paper shows that GRETL can be a useful addition to the instructor who is showing novices how to use regression models. Also, it can be used as a research tool.

Practical implications

Given software like GRETL, instructors no longer need to omit model estimation because of the difficulties in accessing software and showing students how to use it.

Originality/value

This paper introduces a relatively new option, the use of a powerful open‐source software package to instructors in finance and accounting courses.

Details

Managerial Finance, vol. 36 no. 1
Type: Research Article
ISSN: 0307-4358

Keywords

Book part
Publication date: 9 November 2023

Anna Szelągowska and Ilona Skibińska-Fabrowska

The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic…

Abstract

Research Background

The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic growth. One of the ways of influencing the real economy is influencing the level of investment by enterprises.

Purpose of the Chapter

This chapter provides evidence on how monetary policy affected corporate investment in Poland between 1Q 2000 and 3Q 2022. We investigate the impact of Polish monetary policy on investment outlays in contexts of high uncertainty.

Methodology

Using the correlation analysis and the regression model, we show the relation between the monetary policy and the investment outlays of Polish enterprises. We used the least squares method as the most popular in linear model estimation. The evaluation includes model fit, independent variable significance and random component, i.e. constancy of variance, autocorrelation, alignment with normal distribution, along with Fisher–Snedecor test and Breusch–Pagan test.

Findings

We find that Polish enterprises are responsive to changes in monetary policy. Hence, the corporate investment level is correlated with the effects of monetary policy (especially with the decision on the central bank's basic interest rate changes). We found evidence that QE policy has a positive impact on Polish investment outlays. The corporate investment in Poland is positively affected by respective monetary policies through Narodowy Bank Polski (NBP) reference rate, inflation, corporate loans, weighted average interest rate on corporate loans.

Details

Modeling Economic Growth in Contemporary Poland
Type: Book
ISBN: 978-1-83753-655-9

Keywords

Book part
Publication date: 19 December 2012

Lee C. Adkins and Mary N. Gade

Monte Carlo simulations are a very powerful way to demonstrate the basic sampling properties of various statistics in econometrics. The commercial software package Stata makes…

Abstract

Monte Carlo simulations are a very powerful way to demonstrate the basic sampling properties of various statistics in econometrics. The commercial software package Stata makes these methods accessible to a wide audience of students and practitioners. The purpose of this chapter is to present a self-contained primer for conducting Monte Carlo exercises as part of an introductory econometrics course. More experienced econometricians that are new to Stata may find this useful as well. Many examples are given that can be used as templates for various exercises. Examples include linear regression, confidence intervals, the size and power of t-tests, lagged dependent variable models, heteroskedastic and autocorrelated regression models, instrumental variables estimators, binary choice, censored regression, and nonlinear regression models. Stata do-files for all examples are available from the authors' website http://learneconometrics.com/pdf/MCstata/.

Details

30th Anniversary Edition
Type: Book
ISBN: 978-1-78190-309-4

Keywords

Article
Publication date: 14 October 2021

Konrad Rojek

This study aims to present the issue of the international systemic competitiveness of the Polish economy. The essence of this concept was shown, as well as the measures and…

Abstract

Purpose

This study aims to present the issue of the international systemic competitiveness of the Polish economy. The essence of this concept was shown, as well as the measures and methods of analysis used. The aim of the research was to identify the factors that had the greatest impact on the formation of the international systemic competitiveness of the Polish economy.

Design/methodology/approach

An econometric model was constructed to explain the shaping of the value of the dependent variable (gross domestic product [GDP] per capita) in the years 2004–2019. For this purpose, explanatory variables were used selected from among the measures of the international systemic competitiveness of the Polish economy. The developed econometric model was verified to check its practical usefulness. This process was performed using the Gretl program. The research also used the Pentagon Model of Macroeconomic Stabilization, which was used to examine the general economic development of Poland because of which it is possible to conclude about the international systemic competitiveness of the economy.

Findings

In the analyzed period (2004–2019), the international systemic competitiveness of the Polish economy was to the greatest extent conditioned by such factors as government integrity, tax burdens and investment freedom. It is significant that the integrity of the government had a negative impact on the value of GDP per capita.

Practical implications

The results of the conducted research may be particularly useful for the institutional sphere. They indicate systemic factors that had the greatest impact on the prosperity of Polish society in the analyzed period. This enables the weakest elements of the policy to be identified and improved. Proper applications and appropriate corrective actions will have a positive economic effect.

Originality/value

So far, it has not been possible to develop/indicate a uniform and generally accepted measure and method of analyzing international systemic competitiveness. Therefore, all attempts to assess and measure systemic competitiveness have a high research value. The vast majority of studies on the international competitiveness of the economy focus only on assessing its level (growth, decline and comparison with other countries). When building an econometric model (based on the 2004–2019 time series), the author also checks the impact of its individual components, not only its level. On this basis, it can be deduced, which factors influenced the competitiveness in a given period to a greater extent, positively or negatively.

Details

Competitiveness Review: An International Business Journal , vol. 33 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 6 March 2017

Rajasekhara Mouly Potluri, Rizwana Ansari, Saqib Rasool Khan and Srinivasa Rao Dasaraju

This study aims to investigate the attitude and consciousness of Indian Muslims toward halal and also to indicate the alertness of Muslim students about halal in their daily life.

Abstract

Purpose

This study aims to investigate the attitude and consciousness of Indian Muslims toward halal and also to indicate the alertness of Muslim students about halal in their daily life.

Design/methodology/approach

A total of 500 respondents were selected for the study from the State of Andhra Pradesh in India, by stratified random sampling method; of which 300 were general Muslims and 200 were Muslim students. Self-administrated questionnaire and personal interviews were administered to garner the data, which were analyzed with SPSS (version 21.0) and GRETL, and the research hypotheses were tested with Z-test for proportion and Pearson’s chi-square test.

Findings

A total of 92 and 98 per cent of respondents from the general Muslim community and Muslim students, respectively, agreed that they do not have proper exposure to halal. In addition, 89 per cent of general Muslims believe that the halal concept is very significant to Muslim consumers as against 95 per cent students. A total of 98 and 96 per cent of the selected two classes of respondents, respectively, are intended to know more about halal.

Research limitations/implications

The respondents in this research were general Muslims and Muslim students from Andhra Pradesh. The results of this research are, therefore, only applicable to the sampled community. Hence, generalization of the findings to the whole Indian Muslim population or to other areas of Muslim communities should be avoided.

Practical implications

This research results proffer most precious and ingenious information to the corporate sector, Islamic religious organizations and educational institutions specially involved in formal Islamic education. Based on the snowballing trend of Muslim population from the present 250 million to the whopping 340 million by the end of this century, it is an inspired decision to target this lucrative segment which provide alluring profitability particularly food, cosmetics, medicines, etc., with Halal certified products. Specially, Islamic religious organizations also have an enormous onus to enhance the ken of this community on the matters comprehensively germane to Islam in general and about halal and haram in particular.

Originality/value

This is the first ingenious effort aimed to investigate the attitude and awareness toward halal among general Muslims and Muslim students. This is a pioneering attempt on halal of Indian Muslims which is lucrative for both corporate sector and to the academia.

Details

Journal of Islamic Marketing, vol. 8 no. 1
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 5 June 2017

Michal Jirásek

The behavioral theory of the firm (BTOF) has been used to explain the research and development (R&D) investment behavior of firms in numerous multi industry studies. However…

Abstract

Purpose

The behavioral theory of the firm (BTOF) has been used to explain the research and development (R&D) investment behavior of firms in numerous multi industry studies. However, their partially contradictory results point to the possible need for a single industry perspective that would reduce heterogeneity of business trends, models and other characteristics. This study aims to test this theoretical assumption within the challenging context of the US pharmaceutical industry.

Design/methodology/approach

The research uses data from 20 firms, which number among the largest in the US pharmaceutical industry, over the period 2002-2014. These data are analyzed using fixed- and random-effect panel models.

Findings

The findings generally support the need for a thorough understanding of the industry under study and its specific characteristics. The firms analyzed in this research behave slightly differently from theoretical assumptions, and it is argued that this is caused by industry specific factors. Moreover, the use of two separate aspiration measures – for historical and social aspirations – is supported as it provides more in-depth insight into the firms’ behavior.

Originality/value

This paper, which is based on research presented at the 4th International Conference on Innovation and Entrepreneurship, represents the first inquiry into the R&D investment behavior of pharmaceutical firms using the BTOF. It also represents an argument for conducting single-industry rather than multi industry studies when using this theory.

Details

International Journal of Innovation Science, vol. 9 no. 2
Type: Research Article
ISSN: 1757-2223

Keywords

Book part
Publication date: 16 December 2017

Lucia Morra

The essay builds a timeline of the friendship and intellectual intercourse between Sraffa and Wittgenstein with data from both their Cambridge Pocket Diaries (CPDs) and their…

Abstract

The essay builds a timeline of the friendship and intellectual intercourse between Sraffa and Wittgenstein with data from both their Cambridge Pocket Diaries (CPDs) and their correspondence and biography. The timeline distinguishes five phases: their first meetings until June 1930, the time in which their weekly conversations run uninterrupted (October 1930–June 1933); the period in which the enchantment of their previous meetings was broken (October 1933–July 1936); the following decade in which their meetings were in some years intense, in others nearly inexistent, until Sraffa decided to put an end to their conversations; and finally the years preceding Wittgenstein’s death. The meetings between Sraffa and Wittgenstein from their CPDs are listed in the Appendix.

Details

Including a Symposium on New Directions in Sraffa Scholarship
Type: Book
ISBN: 978-1-78714-539-9

Keywords

Book part
Publication date: 26 August 2019

Kim Abildgren

Empirical studies on household-level inflation inequality have so far only focused on periods with positive inflation rates. However, the major concern on the policy agenda since…

Abstract

Empirical studies on household-level inflation inequality have so far only focused on periods with positive inflation rates. However, the major concern on the policy agenda since the most recent financial crisis has been deflation rather than inflation. This naturally raises the question regarding the effect of deflation on the distribution of real income when households spend their budget on different consumption bundles. This chapter compiles annual household-level inflation rates in Denmark from 1930 to 1935 based on microdata from the Expenditure and Saving Survey of 1931 and price data from the official Retail Price Index. The results indicate that lower-income households faced a larger decline in prices on their consumption of goods and services during the deflation years 1930–1932 than higher-income households did. The deflation thus contributed to narrowing the difference in real incomes between the top and bottom parts of the income distribution during the recession. In the years 1933–1935 with positive inflation rates, the lower-income households experienced higher inflation rates than higher-income households. Over the period 1930–1935 seen as a whole, the price development contributed slightly to reducing real income inequality. The low degree of medium-term persistence of differences in household-specific inflation rates is consistent with previous findings in various time periods from the 1960s to the 2000s without any persistent deflation events. The chapter at hand is the first empirical study of the direct distributional effects of price developments at the household level in a period with persistent deflation.

Content available
Article
Publication date: 10 April 2009

Doug Waggle

346

Abstract

Details

Managerial Finance, vol. 35 no. 5
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 13 October 2023

João Silva, Lígia Febra and Magali Costa

This study aims to advance knowledge on the direct impact of the investor’s protection level on the stock market volatility, that is, whether investor’s protection is an important…

Abstract

Purpose

This study aims to advance knowledge on the direct impact of the investor’s protection level on the stock market volatility, that is, whether investor’s protection is an important stock market volatility determinant.

Design/methodology/approach

A panel data was estimated using a sample of 48 countries, from 2006 to 2018, totalizing 31,808 observations. To measure stock market volatility and the investor protection level, a generalized autoregressive conditional heteroskedasticity model and the World Bank Doing Business investor protection index were used, respectively.

Findings

The results evidence that the protection of investors’ rights reduces the stock market volatility. This result indicates that a high level of investor protection, which is the result of a better quality of laws and policies in place that protect investor’s rights, promotes the country as a “safe haven.”

Practical implications

The relationship that the authors intend to analyze becomes important, given that investor protection will give outsiders guarantees on the materialization of their investments. This study contributes important knowledge for investors and for the establishment of government policies as a way of attracting investment.

Originality/value

Although there have been a few studies addressing this relationship, to the knowledge, none of them directly analyses the influence of investor protection on the stock market volatility.

Details

Review of Accounting and Finance, vol. 23 no. 1
Type: Research Article
ISSN: 1475-7702

Keywords

1 – 10 of 63