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Open Access
Article
Publication date: 30 September 2019

Victor Motta

The purpose of this study is to account for a recent non-mainstream econometric approach using microdata and how it can inform research in business administration. More…

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Abstract

Purpose

The purpose of this study is to account for a recent non-mainstream econometric approach using microdata and how it can inform research in business administration. More specifically, the paper draws from the applied microeconometric literature stances in favor of fitting Poisson regression with robust standard errors rather than the OLS linear regression of a log-transformed dependent variable. In addition, the authors point to the appropriate Stata coding and take into account the possibility of failing to check for the existence of the estimates – convergency issues – as well as being sensitive to numerical problems.

Design/methodology/approach

The author details the main issues with the log-linear model, drawing from the applied econometric literature in favor of estimating multiplicative models for non-count data. Then, he provides the Stata commands and illustrates the differences in the coefficient and standard errors between both OLS and Poisson models using the health expenditure dataset from the RAND Health Insurance Experiment (RHIE).

Findings

The results indicate that the use of Poisson pseudo maximum likelihood estimators yield better results that the log-linear model, as well as other alternative models, such as Tobit and two-part models.

Originality/value

The originality of this study lies in demonstrating an alternative microeconometric technique to deal with positive skewness of dependent variables.

Details

RAUSP Management Journal, vol. 54 no. 4
Type: Research Article
ISSN: 2531-0488

Keywords

Book part
Publication date: 30 December 2004

Badi H. Baltagi and Dong Li

Baltagi and Li (2001) derived Lagrangian multiplier tests to jointly test for functional form and spatial error correlation. This companion paper derives Lagrangian multiplier…

Abstract

Baltagi and Li (2001) derived Lagrangian multiplier tests to jointly test for functional form and spatial error correlation. This companion paper derives Lagrangian multiplier tests to jointly test for functional form and spatial lag dependence. In particular, this paper tests for linear or log-linear models with no spatial lag dependence against a more general Box-Cox model with spatial lag dependence. Conditional LM tests are also derived which test for (i) zero spatial lag dependence conditional on an unknown Box-Cox functional form, as well as, (ii) linear or log-linear functional form given spatial lag dependence. In addition, modified Rao-Score tests are also derived that guard against local misspecification. The performance of these tests are investigated using Monte Carlo experiments.

Details

Spatial and Spatiotemporal Econometrics
Type: Book
ISBN: 978-0-76231-148-4

Open Access
Article
Publication date: 4 July 2023

Domenico Marino, Jaime Gil Lafuente and Domenico Tebala

The objective of this paper is to analyze the relationship between innovation and the development of artificial intelligence (AI) and digital technologies in Europe. The use of…

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Abstract

Purpose

The objective of this paper is to analyze the relationship between innovation and the development of artificial intelligence (AI) and digital technologies in Europe. The use of digital technologies among European companies is studied through a composite index, while the relationship between innovation and AI is studied through a log-linear regression model. The results of the model have made possible to develop interesting indications for economic and industrial policy.

Design/methodology/approach

The use of digital technologies among European companies is studied through a composite index of AI and information technology (ICT) (using the Fair and Sustainable Welfare methodology) with the aim of measuring territorial gaps and to know which European countries are more or less inclined to its use, while the relationship between innovation and AI is studied through a log-linear regression model.

Findings

In the paper, two different methodologies were used to analyze the relationship between innovation and the development of digital technologies in Europe. The synthetic indicator made possible to develop a taxonomy between the different countries, the log-linear model made possible to identify and explain the determinants of innovation.

Originality/value

The description of the biunivocal relationship between innovation and AI is a topical and relevant issue that is treated in the paper in an original way using a synthetic indicator and a log-linear model.

研究目的

本文旨在探討在歐洲、創新與人工智能和數字技術的發展之間的關係。研究人員透過一個綜合指數、去探討歐洲公司之間數字技術的使用狀況。至於創新與人工智能之間的關係, 則以對數線性回歸模型來進行研究。從模型所得的結果, 為我們提供了建議、去訂定適切的經濟和產業政策。

研究設計/方法/理念

研究人員透過一個人工智能和資訊科技的綜合指數, 去探討歐洲企業之間數字技術的使用狀況 (研究人員使用了公平和可持續福利方法論), 其目標為測量領土差距, 以及確定哪些歐洲國家、大體上傾向於使用數字技術;至於創新與人工智能之間的關係, 則以對數性回歸模型來進行研究。

研究結果

本文使用了兩個不同的方法、去探討在歐洲、創新與數字技術發展之間的關係。有關的合成指標, 使研究人員可製定一個不同國家間的分類法;而有關的對數線性模型, 則讓研究人員可確立並說明創新的決定因素。

研究的原創性/價值

本文使用了合成指標和對數線性模型、去探討創新與人工智能之間的一對一的關係, 這是時下受到關注和適宜的課題;就研究法而言, 本研究確是新穎獨創的。

Details

European Journal of Management and Business Economics, vol. 32 no. 5
Type: Research Article
ISSN: 2444-8451

Keywords

Article
Publication date: 1 June 2001

Catherine Cheung and Rob Law

This paper reports on a study about applying regression techniques to identify the determinants and functional forms of tourism hotel expenditure in Hong Kong. Annual time series…

4602

Abstract

This paper reports on a study about applying regression techniques to identify the determinants and functional forms of tourism hotel expenditure in Hong Kong. Annual time series data from 1983 to 1997 of average room rate, the number of visitor arrivals, the service price index, and hotel accommodation rates were hypothesised to affect tourism hotel expenditure. Seven exogenous variables were selected for regression model development in both linear and log‐linear forms. In view of the potential problems of multicollinearity between the independent variables, and therefore the associated instability of the regression coefficients, stepwise regression analyses were employed to improve the initial model. Final empirical results showed that the hotel expenditure in Hong Kong could be explained by four of the seven exogenous variables. A log‐linear form of the regression model appeared to slightly outperform the linear form.

Details

International Journal of Contemporary Hospitality Management, vol. 13 no. 3
Type: Research Article
ISSN: 0959-6119

Keywords

Book part
Publication date: 29 March 2021

Helen X. H. Bao

Urbanisation, environmental sustainability and property markets are intertwined. Consequently, studies on any of these three topics need to take the other two topics into…

Abstract

Urbanisation, environmental sustainability and property markets are intertwined. Consequently, studies on any of these three topics need to take the other two topics into consideration. By critically reviewing 33 hedonic pricing studies in 16 key journals in the urban studies and environmental policies areas, we summarise quantitative evidence on the price of environmental externalities resulting from China's urbanisation process. We find that Chinese residents are willing to pay more for the access to green space and waterbody as well as the treatment of urban pollution. The cost and benefit of these amenities and disamenities have already been capitalised in house prices. The central and local government in China can leverage market force to encourage, support and facilitate sustainable urban development and environmental protection, instead of directly intervening in the property market by using public resources. Meanwhile, the estimated hedonic price of Urban Green, Urban Blue and Urban Grey helps policymakers to understand the cost and benefit of their urban development decisions. Our review of the papers on Urban Green, Urban Blue and Urban Grey suggests that there have been promising and encouraging development in studies on all three topics in the last decade. The quality and quantity of hedonic price research has been improving notably. However, it is also clear that there is virtually no empirical evidence from the second- or third-tier cities, particularly, regarding Urban Green and Urban Blue investigations. The small number of existing hedonic studies is far from sufficient to draw reliable conclusions about the costs of environmental externality for cities that have not been studied. What works in first-tier cities may not hold elsewhere in China due to the large geographical variation in natural endowment, economic development status and local customs. There are many pieces that are missing from this big picture. More hedonic price studies are needed.

Details

Sustainable Real Estate in the Developing World
Type: Book
ISBN: 978-1-83867-838-8

Keywords

Abstract

Details

Legal Professions: Work, Structure and Organization
Type: Book
ISBN: 978-0-76230-800-2

Article
Publication date: 12 April 2013

Mohamed Sherif and Nor Azlina Shaairi

The purpose of this paper is to identify the driving forces that influence family Takaful demand in Malaysia. The paper examines various identified and available economics and…

10898

Abstract

Purpose

The purpose of this paper is to identify the driving forces that influence family Takaful demand in Malaysia. The paper examines various identified and available economics and socio‐demographic variables.

Design/methodology/approach

Using ordinary least square (OLS) and generalised method of moments (GMM) techniques, the paper investigates the significance of the identified economic and socio‐demographic factors in determining the consumption of family Takaful. The paper first examines a full model that combines all variables; second, a model that controls for product market factors; and finally, a model that controls for socio‐demographic factors. Following Anderson and Nevin, Haberman, Lenten and Rulli and Josa the paper further separates all models into linear and log‐linear demand functions.

Findings

The paper demonstrates that income, Islamic banking development, education, dependency ratio and Muslim population factors are positively related to Takaful demand. On the other hand, inflation, real interest rate, financial development and life expectancy appear to be the significant factors that adversely influence the total family Takaful consumption.

Research limitations/implications

The major limitation of this paper is the small sample size. Therefore, future studies may expand the variables omitted in this study due to unavailability of data, which may be influential in explaining the family Takaful demand in Malaysia. Possible influential variables may include government social security expenditure, price of Takaful and level of competition within the Takaful and insurance industry. Research should also be conducted on the impact of the legal system and government policies on the demand for family Takaful in the country. Finally, the study focuses solely on the determinants of demand for family Takaful. Nevertheless, the supply‐side of the equation should not be neglected and should be incorporated in future studies.

Originality/value

It is obvious that there are very few studies that focus on the Malaysian market and indeed, none of them gives attention to the factors that influence demand for family Takaful. In this regard, this study contributes in filling the gaps in the scope and coverage of studies in similar area. While this study is expected to provide more understanding and awareness on the concept of Takaful and the factors that influence its demand, the authors hope that it would encourage more studies on various issues on the Takaful industry so as to help researchers to understand more aspects of this new emerging business.

Details

Journal of Islamic Accounting and Business Research, vol. 4 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 March 1993

Alan King

In the absence of any theoretical guidance, a solution to thequestion of what is the appropriate functional form for an import demandmodel can only be found empirically. Examines…

Abstract

In the absence of any theoretical guidance, a solution to the question of what is the appropriate functional form for an import demand model can only be found empirically. Examines this question in the context of UK motor vehicle imports by applying a range of tests of functional form to two, alternatively specified, import demand models: the “traditional” price‐income model incorporating the popular but restrictive partial adjustment mechanism and a cost‐expenditure model that employs a less restrictive lag structure. Finds, principally that the commonly imposed linear or log‐linear functional forms cannot be rejected in relation to the price‐income specification, but there is some evidence that neither functional form may be appropriate in relation to the theoretically sounder cost‐expenditure model of import demand.

Details

Journal of Economic Studies, vol. 20 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 21 August 2017

Mohamed Sherif and Sadia Hussnain

The purpose of this paper is to investigate the driving forces (economics and socio-demographic) that influence family Takaful demand in the Middle East and North Africa (MENA…

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Abstract

Purpose

The purpose of this paper is to investigate the driving forces (economics and socio-demographic) that influence family Takaful demand in the Middle East and North Africa (MENA) region, using a sample of 15 countries from the MENA.

Design/methodology/approach

The authors use multivariate analysis, bootstrapping and generalised method of moments techniques. They first examine a full model that combines all variables; second, a model that controls for product market factors; and finally, a model that controls for socio-demographic factors. They further separate all models into linear and log-linear demand functions.

Findings

The authors demonstrate that the relationship between the demand for family Takaful in MENA and Islamic banking deposits, education, dependency rate, female life expectancy and Muslim population is significantly positive. On the other hand, the significant factors that are inversely related to the demand for family Takaful in MENA are inflation, financial development and male life expectancy.

Research limitation/implications

The crucial limitation of this study is the amount of data available in regards to the dependent variable, family Takaful contributions. Consequently, to improve the understanding in explaining the family Takaful demand in MENA, further research can take advantage of expanding the variables that were omitted in this research as a consequence of the unavailability of data. Some of the possible influential variables can include government social security expenditure, legal system and government policies, price of Takaful and level of competition within the Takaful and insurance industry.

Originality/value

It is obvious that there are very few studies that focus on the MENA market, and indeed, none of them gives attention to the factors that influence demand for family Takaful. While this study is expected to provide more understanding and awareness on the concept of Takaful and the factors that influence its demand, the authors hope that it would encourage more studies on various issues on the Takaful industry so as to help researchers to understand more aspects of this new emerging business.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 10 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

Book part
Publication date: 15 December 1998

R.S. Tunaru and D.F. Jarrett

The technique of graphical modelling (Whittaker, 1990) can be used to identify the dependence relationships between variables representing characteristics of recorded road…

Abstract

The technique of graphical modelling (Whittaker, 1990) can be used to identify the dependence relationships between variables representing characteristics of recorded road accidents. It allows large multi-dimensional tables to be analysed by looking for conditional independence relationships among the variables. The variables under study can often be divided into groups that are ordered in time or by a hypothesised causal assumption. For these situations graphical chain models (Whittaker, 1990) are used to explore causal relationships between the variables. Some examples are given for a six-dimensional and a ten-dimensional contingency table.

Details

Mathematics in Transport Planning and Control
Type: Book
ISBN: 978-0-08-043430-8

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