Search results for "Econometric"
showing 10 items of 3780 documents
Abuse of consumer trust in the digital market and the green market: the case of green washing in the Italian legal system
2022
Purpose The purpose of this paper is to offer some reflection on the abuse of consumer trust and the importance of control of information in the digital market and the green market. The role of the consumer as the arbiter of the market is fundamental. The abuse of consumer confidence depends, in fact, on the spread of stereotyped messages and vague and generic formulas aimed at hiding a dangerous vacuum of protection. In both markets, it is a question of giving the consumer the necessary tools to monitor the transparency of the criteria used by the trader to classify a product according to its characteristics. Design/methodology/approach Based on the analysis of an Italian case law and the…
Female leadership, performance, and governance in microfinance institutions
2014
Abstract This paper investigates the relations between female leadership, firm performance, and corporate governance in a global panel of 329 Microfinance Institutions (MFIs) in 73 countries covering the years 1998–2008. The microfinance industry is particularly suited for studying the impact of female leadership on governance and performance because of its mission orientation, its entrepreneurial nature, diverse institutional conditions, and high percentage of female leaders. We find female leadership to be significantly associated with larger boards, younger firms, a non-commercial legal status, and more female clientele. Furthermore, we find that a female chief executive officer and a fe…
Growth vs. level effect of population change on economic development: An inspection into human-capital-related mechanisms
2011
ACL-1; International audience; This paper studies the different mechanisms and the dynamics through which demography is channeled to the economy. We analyze the role of demographic changes in the economic development process by studying the transitional and the long-run impact of both the rate of population growth and the initial population size on the levels of per capita human capital and income. We do that in an enlarged Lucas–Uzawa model with intergenerational altruism. In contrast to the existing theoretical literature, the long-run level effects of demographic changes, i.e. their impact on the levels of the variables along the balanced growth path, are deeply characterized in addition…
FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead
2021
FinTech has been in the focus of discussion for quite some time. However, the market share of FinTech companies is still relatively small compared to that of more traditional financial services. The purpose of this paper is to analyse the status quo, current developments, and challenges ahead for the Latvian FinTech sector. We combine three analyses: a political and legal, economic, social, and technological environment (PEST) analysis
Consumer confidence: Causality links with subjective and objective information sources
2020
Abstract This study analyses the relationship of causality between consumer confidence and the economic information ecosystem from subjective (i.e., business sentiment) and objective sources (financial information from listed companies and the stock index). Our sample covers Spain from June 2011 to December 2018. Our results show that consumer confidence and economic information can exert a causality influence on each other. The results show Granger causality from IBEX35 and total assets in the financial sector and leverage of the companies in the energy sector to the consumer confidence index (CCI), in the first lag: from operating income in the telecommunications sector to the CCI in the …
Bank-specific shocks and aggregate leverage: Empirical evidence from a panel of developed countries
2020
International audience; This paper investigates the link between shocks in the banking sector and aggregate leverage measured by the credit-to-GDP gap. Using a balanced panel of 15 countries for the period 1989–2016, we exploit the approach due to Gabaix (2011) and consider banking granular shocks as an indicator of banking distress. Using methods that account for potential endogeneity, we find that banking shocks Granger-cause aggregate leverage. In particular, banking shocks tend to increase the level of leverage and cause departures of the credit-to-GDP ratio from its long-term trend.
Imputation of posterior linkage probability relations reveals a significant influence of structural 3D constraints on linkage disequilibrium
2018
Genetic association studies have become increasingly important in unraveling the genetics of diseases or complex traits. Despite their value for modern genetics, conflicting conclusions often arise through the difficulty of confirming and replicating experimental results. We argue that this problem is largely based on the application of statistical relation measures that are not appropriate for genomic data analysis and demonstrate that the standard measures used for Genome-wide association studies or genomics linkage analysis bear a statistic bias. This may come from the violation of underlying assumptions (such as independence or stationarity) as well as from other conceptual limitations …
Stratégies d'influences et politiques de maîtrise de la croissance locale
2010
Over the last ten years, real estate prices have risen considerably and accordingly to most observers, this can at least partly be attributed to an insufficient supply, due to local growth control measures. This thesis tries to understand what motivates local authorities implementing such policies. Local politicians are considered as opportunistic and their decision is modelled as the result of a political struggle between different land-related interests. This game for influence mainly opposes the owners of developed and undeveloped land, who find allies amongst local business interests that might form growth or ideas machines. Our first model describes this struggle under different hypoth…
Simulating Term Structure of Interest Rates with Arbitrary Marginals
2007
Decision models under uncertainty need to be feeded with scenarios of the interest rate curve. Such scenarios have to comply, as close as possible, with the empirical distribution of each rate. Simulation models of the term structure usually assume that the conjugate distribution of the interest rates is lognormal. Dynamic models, like vector auto-regression, implicitly postulate that the logarithm of the interest rates is normally distributed. Statistical analyses have, however, shown that stationary transformations (yield changes) of the interest rates are substantially leptokurtic, thus posing serious doubts on the reliability of the available models. We propose in this paper a vector au…
Simulating term structure of interest rates with arbitrary marginals
2011
Decision models under uncertainty rely their analysis on scenarios of the economic factors. A key economic factor is the term structure of interest rates (yields). Simulation models of the yield curve usually assume that the conjugate distribution of the interest rates is lognormal. Dynamic models, like vector auto-regression, implicitly postulate that the logarithm of the interest rates is normally distributed. Statistical analyses have, however, shown that stationary transformations (yield changes) of the interest rates are substantially leptokurtic, thus posing serious doubts on the reliability of the available models. We propose in this paper a VARTA model (Biller and Nelson, 2003) to s…