Search results for "AHA"
showing 10 items of 1702 documents
Ownership, Board Compensation and Company Performance in Sub-Saharan African Countries
2013
In countries with weak institutions, board governance becomes more important. This study uses a unique dataset from listed sub-Saharan African companies to examine the relationship between ownership composition and board compensation. It further analyses the association between board compensation and company performance. The findings indicate that board ownership and chief executive officer ownership are positively associated, whereas state ownership and concentrated ownership are negatively associated with board compensation. There is no evidence of a significant association between chairperson ownership or foreign ownership and board compensation. Finally, there is a negative but not sig…
Stock market and exchange rate information in the Taylor rule : Evidence from OECD countries
2017
We analyze the effects of stock market and exchange rate information in a forward-looking Taylor rule for monthly data from 14 OECD countries during the years 1999–2016. Especially the stock market information in the form of dividend but also the currency market information in the form of real exchange rate are revealed to be relevant in Taylor rule for many of the countries examined by helping to strengthen the role of inflation and real economic activity deviations in the policy rule. In many cases the rule also seems to be opportunistic, i.e., the inflation target has been time-varying. peerReviewed
Knowing is half the battle: Seasonal forecasts, adaptive cropping systems, and the mediating role of private markets in Zambia
2019
Abstract This paper examines how smallholders living in regions where a drought is forecasted adapt their farm practices in response to receiving seasonal forecast information. The article draws on a unique longitudinal dataset in Zambia, which collected information from farm households before and after a significant drought caused by the 2015/2016 El-Nino Southern Oscillation. It finds that farmers residing in areas forecasted to be drought-affected and receiving seasonal forecast information are significantly more likely to integrate drought tolerant crops into their cropping systems compared to similar households not receiving this information. Moreover, the probability that a farmer imp…
Speculation and lottery-like demand in cryptocurrency markets
2021
Abstract This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns appear to be short-memory processes, we modify Bali, Cakici and Whitelaw’s (2011) and Bali, Brown, Murray, and Tang’s (2017) MAX measure and employ a weekly forecast horizon and daily log-returns from the previous week to calculate the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk-adjusted return differences between cryptocurrencies in the lowest a…
Keep the faith in banking : New evidence for the effects of negative interest rates based on the case of Finnish cooperative banks
2021
This paper analyses the profitability of Finnish cooperative banks during the period of negative nominal interest rates. Contrary to expectations, the continuous decline in money market interest rates between 2009 and 2014, and the following negative rate era, did not have adverse effects on the profitability of banks at the beginning of negative interest rate period. Based on especially using a risk-adjusted measure for bank profitability, these results contrast with previous findings. In our findings, the increasing wholesale funding (WSF) ratio seems to be an important factor. However, after 2017 the banks have not been able to improve especially their risk-adjusted profitability so stro…
Effects of the European Monetary Union on High-Technology Exports
2021
AbstractOur study estimates the effects of the European Monetary Union (EMU) on high-technology (HT) export and assesses the potential knowledge spillovers of such trade. Irrespective of the importance of the HT trade channel, none of the previous studies in the literature focus on the effects of a common currency on HT trade. Increasing trade in the HT sector may lead to more efficient use of resources and help countries to move towards a knowledge-based economy. Moreover, it may lead to higher overall growth. After considering multilateral resistances, pair fixed effects and bias correction in the preferred (three-way bias-corrected) model, EMU membership becomes negative and statisticall…
Les modèles de simulation pour la planification de l'éducation en Afrique subsaharienne. Une simplicité appauvrissante et inféconde
2014
More than elsewhere, the issues covering educational planning are important in sub-Saharan Africa. Simulation models are the main tool of this type of planning. Most were designed or inspired by the World Bank or UNESCO. Yet, these models are too simplistic. This simplicity is a choice, although it is badly argued. The resulting vagueness is totally unacceptable, although imperceptible due to the simplicity of the models, which are not testable by facts. The simulation models are thus a sham and African educational systems continue to suffer grave imbalance in the allocation of resources. The conception of quality models, designed with a genuine concern to guide action, is possible and urge…
How can countries use cross-national research results to address "the big policy issues" ? (Case studies from Francophone Africa)
2006
06058http://www.unesco.org/iiep/PDF/pubs/G117.pdf?class=IIEP_PDF_pubs&page=G117&estat_url=http://www.unesco.org/iiep/PDF/pubs/G117.pdf; The “Program on the Analysis of Education Systems“ (PASEC) was launched in 1991 at the conference of francophone education ministers (CONFEMEN) in Djibouti and carried out its first country evaluation one year later in the same country. Since then, 13 individual country evaluations have been carried out in francophone sub-Saharan Africa, including panel studies following primary students from 2nd to 6th grade within a given country. The primary objective of PASEC evaluations is not the comparison of student achievement across countries, but the analysis of …
Questions d'alphabétisation dans le contexte africain
2012
Despite the proportion of illiterate people in sub-Saharan Africa having declined between 1985 and 2008, the number of illiterates has actually increased during the period. It is within this context, that since April 2000, the international community has been committed to six Education for All goals. One of these goals is to achieve a 50 per cent improvement in adult literacy levels by 2015. This thesis aims to analyse how primary education and literacy programs (two processes on which educational policy can intervene) enable the populations of sub-Saharan Africa to acquire basic reading skills. In the vast majority of African countries, the analysis based on household surveys shows that sc…
Les compétences fondamentales et le développement : peut-on évaluer les systèmes éducatifs par le niveau d'acquisition homogène d'un bloc de compéten…
2012
Ce travail de recherche tend à apporter une mesure de réalisation de l'objectif du millénaire d'éducation pour tous en centrant, d'une part, la question géographique là où l' 'enjeu reste sensible: l'Afrique subsaharienne et aussi, d'autre-part, au sous-entendu de cet objectif que l'éducation offerte soit de qualité. Notre constat part des éléments de littérature venant de l'économie de l'éducation pour lesquels, si l'éducation primaire n'est pas perçue par des populations comme apportant des compétences de base de qualité, le risque est de voir tout effort éducatif contraint par découragement envers l'école. La démarche s'appuie sur l'analyse des modèles de mesure et les dispositifs d'éval…