Search results for "Explanatory power"
showing 10 items of 37 documents
Unveiling the Antecedents of International Diversification: An Agency Theory Approach
2014
While various studies have developed hypotheses about the antecedents of international diversification drawing mainly on the resource-based view, the behavioral theory of the firm, and the transaction costs literature, we advance our understanding by investigating the explanatory power of agency costs of free cash flow arguments. Using a sample panel of 167 Italian firms longitudinally evaluated during the 1980-2010 period, this study tests whether the firm’s choice to spread operations in multiple foreign countries is conditioned by excess of free cash flow and debt, especially in firm-contexts where agency problems are exacerbated by managers or large shareholders’ opportunism. We find th…
Słabości eksplanacyjne teorii inteligentnego projektu
2021
Artykuł powstrzymuje się od polemiki merytorycznej z teorią inteligentnego projektu, dalej TIP, a jedynie wskazuje na jej niedostatki metodologiczne. Dowodzi, że wbrew twierdzeniom jej zwolenników TIP nie jest falsyfikowalna. W odróżnieniu od teorii ewolucji nie może pełnić nawet roli metafizycznego programu badawczego w sensie Poppera. Co jednak ważniejsze, TIP nie pełni żadnych funkcji eksplanacyjnych. W grę wchodzą jedynie wyjaśnienia intencjonalne, TIP zaś nie jest w stanie zidentyfikować motywów domniemanego projektanta. Argument jest zilustrowany przykładami zaczerpniętymi od Stanisława Lema, które pokazują, że możliwych jest wiele alternatywnych hipotez na temat celów domniemanego pr…
A discursive analysis of oppositional interpretations of the agro-food system: A case study of Latvia
2015
Abstract This article critically reflects on the literature that addresses the complexity of food systems, which is often caught in application of simplistic binary oppositions of local vs. global, short vs. long, sustainable vs. intensive, etc. It then goes on to show, through a case study analysis of food-system discourses in Latvia how the binary oppositions surrounding with food systems, are actually mobilised in a specific national context. Agro-food systems are often explained through binary opposing knowledge systems that, depending on the theoretical affiliation of the author, might be called frames, narratives or discourses. These powerful instruments are used to explain, and often…
Learning Motivation and Activity Contexts
1994
Abstract Learning motivation has a special explanatory status in educational psychology and educational practice. Motivation and learning often are studied separately. In the achievement motivation tradition, achievement situation is the connecting link between learning process and achievement need. The explanatory power of this link has limitations. The activity concept is proposed as a unit which is able to offer a broader basis for a unified concept of learning motivation.
EXPLANATORY FACTORS OF MARKET POWER IN THE BANKING SYSTEM
2007
The aim of the study is to analyse the explanatory factors of market power in the banking system. Using as laboratory the Spanish banking system in the period 1986–2002, results show an increase of market power from the mid-1990s. Of the set of variables that the model posits as explaining market power, those with the greatest explanatory power are size, efficiency and specialization; concentration is not significant. This last result shows the limitations of the approaches, studies and decision-making rules of economic policy that uses market concentration as a proxy for the degree of competition.
To Pay or Not to Pay: Competing Theories to Explain Individuals’ Willingness to Pay for Public Environmental Goods
2010
Dieser Beitrag ist mit Zustimmung des Rechteinhabers aufgrund einer (DFG geförderten) Allianz- bzw. Nationallizenz frei zugänglich. This publication is with permission of the rights owner freely accessible due to an Alliance licence and a national licence (funded by the DFG, German Research Foundation) respectively. Several theories have been proposed in an attempt to explain individuals’ willingness to pay (WTP) for public environmental goods. While most studies only take into account a single theory, this article discusses competing theories. These include, in addition to a basic economic model, the theory of public goods, Ajzen’s theory of planned behavior, and Schwartz’s norm-activation…
Correlation and Truth
2013
The concept of correlation is the building block of almost any Bayesian attempt to capture or explicate any interesting aspect of scientific reasoning in terms of probabilities. This paper discusses one particularly simple correlation measure which is highly significant for almost any such attempt within the philosophy of science or epistemology. In particular, it shows how this correlation measure is related to central attempts to capture essential aspects of scientific reasoning such as confirmation, coherence, and the explanatory power of hypotheses. This intimate connection between correlation and scientific reasoning necessitates answering the question of how correlation and truth are …
Sobre el poder explicativo del análisis económico del Derecho. En especial, del Derecho de daños (On the Explanatory Power of the Economic Analysis o…
2019
Spanish Abstract: El analisis economico del Derecho (AED) estudia los fenomenos juridicos sirviendose de las teorias y las herramientas metodologicas proporcionadas por la economia. El AED puede cumplir una funcion normativa (senalar que decisiones juridicas deberian adoptarse con el fin de maximizar ciertas preferencias), una funcion predictiva (determinar las consecuencias sociales que pueden tener las decisiones juridicas) y una funcion explicativa (poner de manifiesto los factores que determinan la forma y el contenido las decisiones juridicas). El AED ha recibido innumerables criticas. En este trabajo consideramos y tratamos de refutar, en la medida en que lo merezcan, aquellas que imp…
The value relevance of losses revisited: the importance of earnings aggregation
2011
Accepted version of an article published in the journal: Global Business and Economics Review. Also available from the publisher at: http://dx.doi.org/10.1504/GBER.2011.040728 Prior research has suggested that earnings explain a larger portion of the variation in stock returns when disaggregated into components. This study shows that the increase in explanatory power stems primarily from disaggregation of negative earnings. When accounting earnings are sufficiently disaggregated into items, there is no longer a statistical difference in the value relevance of positive and negative earnings. Thus, negative earnings are also useful to stock investors. The findings are attributed to earnings p…
Holidays, weekends and range-based volatility
2020
Abstract This study analyses the effect of non-trading periods on the forecasting ability of S&P500 index range-based volatility models. We find that volatility significantly diminishes on the first trading day after holidays and weekends, but not after long weekends. Our findings indicate that models that include autoregressive terms that interact with dummies that allow us to capture changes in volatility levels after interrupting periods provide greater explanatory power than simple autoregressive models. Therefore, the shorter the length of the non-trading periods between two trading days, the higher the overestimation of the volatility if this effect is not considered in volatility for…