Search results for "Econometric model"
showing 10 items of 45 documents
Expectations and forward risk premium in the Spanish deregulated power market
2010
Abstract Deregulation in energy markets has entailed important changes in the way agents conduct business. Price risk arises as a result of fluctuations in the future price of electricity and agents assume long or short positions in the forward and spot markets to hedge their exposure to price risk. The presence of forward risk premium in prices is evidence of the fact that agents act in the market according to risk considerations. This work aims to analyse the information content of the difference between the forward and spot prices (the so-called forward premium) regarding the agents’ decisions. We find that the sign and magnitude of the ex post forward premium depend on the unexpected va…
Rural tourism in Spain
2002
Abstract The aim of this study is to determine the features that characterize a new tourist class, called modern rural tourism, and to figure out the proportion of this market in one specific Spanish region. The geographical territory under study is El Alto Palancia, one of the best known rural resorts, within the Valencian region. In order to fulfil these goals, an empirical study was undertaken and an econometric model was applied afterwards. A wide set of variables has been selected for the Logit Binomial Model, which is shown to be useful in discriminating the modern from traditional tourists.
Corruption-Related Disclosure in the Banking Industry: Evidence From GIPSI Countries
2022
This paper empirically investigates corruption-related disclosure in the banking industry, aiming to identify the most relevant theories which explain why financial institutions disclose corruption-related information to the public in their annual financial reports.Using a total sample of 88 banks from the GIPSI countries during the period 2011-2019, our results reveal that, on average, banks involved in corruption issues disclose less on corruption-related information than banks not involved in any corruption scandal. Moreover, banks not involved in corruption cases disclose even more information after other banks’ corruption events become public. These basic relationships, however, are sh…
Informal employment in developing countries
2012
There is an ongoing debate among researchers and policy makers, whether informal sector employment is a result of competitive market forces or labor market segmentation. More recently it has been argued that none of the two theories sufficiently explains informal employment, but that the informal sector shows a heterogenous structure. For some workers the informal sector is an attractive employment opportunity, whereas for others – rationed out of the formal sector – the informal sector is a strategy of last resort. To test the empirical relevance of this hypothesis we formulate an econometric model which allows for several unobserved segments within the informal sector and apply it to the …
Estimating the non-market benefits of water quality improvement for a case study in Spain: A contingent valuation approach
2012
Abstract This article addresses an important topic related to the application of the European Water Framework Directive (WFD) in Spanish watersheds. Results on a contingent valuation study, aimed to assess the non-market benefits of water quality improvements in the Guadiana river basin (GRB), are shown. Special attention has been paid to the issue of zero willingness-to-pay (WTP) responses, while addressing the possible presence of self-selection caused by protest responses. The results (i) indicate that sample selection bias is not a problem in our application, (ii) allow us to identify some key determinants of voting behaviour, and (iii) through the use of different econometric models al…
Understanding Economic Growth in Ghana in Comparative Perspective
2019
Ghana has experienced a decade of solid and exceptionally high growth. Between 2005 and 2015, income nearly doubled. This paper analyzes the factors driving this impressive growth performance, using tools such as structural change decompositions and growth regressions. For the comparative perspective, the paper compares Ghana with its structural and aspirational peers. The paper finds that the contribution of structural change to growth has been limited and attributes this to labor that was freed up in agriculture not being absorbed by high-productivity sectors. Looking at factors that drove growth since 2000, financial development and infrastructure had the most important impacts. A benchm…
A spatial analysis of Italian unemployment differences
2008
Using spatial econometric models, this paper focuses attention on the spatial structure of provincial unemployment disparities of Italian provinces for the year 2003. On the basis of findings from the economic literature and of the available socio-economic data, various model specifications including supply- and demand-side variables are tested. Further we use ESDA analysis as equivalent to integration analysis on time series; therefore it is applied on each variable, dependent and independent, involved in the statistical model. The suggestions of ESDA lead us to the most adequate statistical model, which estimates indicate that there is a significant degree of neighbouring effect (i.e. pos…
Marketing Science and the Ivory Tower
1994
How much has quantitative “marketing science” contributed to the practice of marketing? In my view, not much. In this article, based on extensive consulting experience, it is argued that well-established quantitative techniques like econometric models and diffusion models have produced little of either practical or scientific value. Other quantitative techniques, such as conjoint analysis, have been more useful for marketing decision-makers. But what is needed is a more pluralistic culture, drawing on a range of complementary disciplines.
The role of internal resources in the competitive positioning of Sicilian wine cooperatives
2019
The paper is an original article that uses accounting frameworks to determine what creates a competitive advantage in a cooperative business model. In particular, it investigates the influence of tangible, intangible and financial resources on the business performance of cooperatives operating in the Sicilian wine industry, with the RBV of the firms as a theoretical background. Using a linear regression model, our results show that tangible and financial resources are a source of a sustained competitive advantage. This study fills the gap existing in the strategic management literature related to the role of resources, tangible and intangible, in the cooperative system, providing both theor…
Matrices de pondérations et contexte spatio-temporel en économétrie spatiale
2013
International audience