Search results for "Panel Data"
showing 10 items of 172 documents
Quantile regression for the FDI gravity equation
2015
Abstract Firm-level heterogeneity shapes foreign direct investment (FDI) flows, whereby a few firms are responsible for most of the world's FDI. Aggregate outcomes of FDI are highly skewed, and the estimates of FDI's antecedents vary largely depending on FDI level. The incidence of individual firms, however, varies across FDI's quantiles. To study the individual firms' effect on FDI flows, this study develops a quantile regression method for bilateral FDI panel data. This study estimates the differential incidence of individual firm-level projects on aggregate flows among 161 countries from 2003 to 2012. Results suggest that FDI's determinants vary across quantiles. In particular, the effec…
The impact of corruption on sport demand
2020
PurposeThe article presents an empirical analysis that evaluates the effects of a systemic corruption scandal on the demand in the short and the long run. In 2006, the Calciopoli scandal uncovered the match rigging in the Italian soccer first division. The exemplary sportive sanction of relegating the primary culprit to the second division imposed further negative externalities on the other clubs. Should we prefer the sportive sanction on the team or the monetary fines for the club?Design/methodology/approachWe estimated two log-linear models of the demand side (stadium attendance) using a fixed effect estimator, on two panel data set made of all the Italian soccer clubs in the first and se…
IFRS Adoption and Unconditional Conservatism: An Accruals-Based Analysis
2020
This paper finds its motivation in the lack of robust results in the literature that analyse the effect on unconditional conservatism of the mandatory adoption of International Financial Reporting Standards (IFRS) by the Spanish listed companies. We provide new evidence by using, for the first time in this context, a non-market-based measure of unconditional conservatism: the accruals-based measure proposed by Givoly and Hayn (2000). We use econometric panel data techniques applied to a panel of 96 non-financial firms and 10 years. The results show evidence that support a significant reduction of the unconditional conservatism of Spanish listed companies due to the adoption of IFRS.
The Impact of Internet and Social Media Use on Well-Being
2021
The present research examines the longitudinal average impact of frequency of use of Internet and social networking sites (SNS) on subjective well-being of adolescents in Germany. Based on five-wave panel data that cover a period of nine years, we disentangle between-person and within-person effects of media use on depressive symptomatology and life satisfaction as indicators of subjective well-being. Additionally, we control for confounders such as TV use, self-esteem, and satisfaction with friends. We found that frequency of Internet use in general and use of SNS in particular is not substantially related subjective well-being. The explanatory power of general Internet use or SNS use to p…
The role of tourism in island economic growth and resilience: A panel analysis for the European Mediterranean countries (2000–2015)
2019
Purpose The purpose of this paper is to verifying the economic resilience of islands and, in particular, the role of the tourism sector in the reaction to the most recent economic crisis. The analysis concerns insular contexts, such as the greater island regions in the Mediterranean basin. Design/methodology/approach Static and dynamic panel data techniques are used for a sample of 13 island economies over a period of 16 years. Findings Results show that the growth factors for regional islands are similar to the ones usually considered for other regions, but the tourism-led growth hypothesis is highly supported. Tourism demand more than supply plays a role together with accessibility. The …
Returns to scale in a matching model: evidence from disaggregated panel data
2005
The returns to scale in the matching function play an important role in models with endogenous search effort. Due to positive externalities, increasing returns to scale in matching can support high or low activity equilibrium in the labour market. In this study, we examine this issue using panel data from Finnish employment offices. The study finds that the results from the Cobb–Douglas and translog specification are qualitatively different. The CD specification of the matching function exhibits constant returns to scale. The translog specification, in turn, exhibits increasing returns to scale. The elasticity estimate for returns, using the preferred specification and minimum and maximum s…
What Drives the Microfinance Lending Rate?
2012
Is the microfinance institution (MFI) able to charge unduly high lending rates and obtain a profitability incompatible with perfect competition? We use a global panel data set of MFIs. The Panzar and Rosse revenue test in static and dynamic versions is employed, together with analyses of price (the lending rate) and return on assets. We control for microfinance specific variables such as average loan and institutional background variables, and also perform estimations in sub-samples of ownership types, regulation, and founder type. We find that the average MFI does not enjoy monopoly market power in its market, but cannot reject that perfect competition or monopolistic competition are bette…
Economies of diversification in microfinance: Evidence from quantile estimation on panel data
2020
Abstract Prior studies of the diversification-driven cost savings from the joint provision of credit and deposits in microfinance usually ignore the multi-way heterogeneity across MFIs which vary substantially in size, business model, target clientele and operate in diverse environments. Using a quantile panel data model with correlated effects capable of accommodating multiple heterogeneity, we show that the typical measurement of economies of diversification at the mean provides an incomplete and distorted picture of their magnitude and prevalence in the industry. While we find statistically significant estimates, they are modest for most small-size MFIs but are quite substantial for larg…
Does investor attention influence water companies’ stock returns?
2020
Abstract The potential impacts of climate change and population growth are having serious effects on the energy and agricultural industries, which might compromise water availability. Water scarcity requires the global water industry to examine the rapidly changing market and, together with public initiatives, make innovative investments to guarantee better water management models. Therefore, from an investor's perspective, it is important to understand what might influence water companies’ stock returns. This paper analyzes how the energy and agriculture industries and the growing environmental awareness of investors influence water companies’ stock returns. Panel data on the monthly stock…
The Impact of Monetary Policy on Bank Profitability
2020
This chapter analyzes the effect of the monetary policy on both net interest margin and bank profitability using a panel data from 31 OECD countries over the period 2000–2017. The main results show that expansionary monetary policy measures adopted in numerous economies had a negative impact on net interest margins and, therefore, on bank profitability. The relationship between interest rates and the slope of the yield curve with both the net interest margin and profitability is non-linear, more specifically concave. This suggests that the negative impact of low interest rates and the flat yield curve is greater the lower and flattened they are, respectively. Therefore, a potential normaliz…