Search results for "Probit"
showing 10 items of 49 documents
The Influence of Institutionally Embedded Ownership on Anglo-American Corporate Governance Migration into Emerging Economy IPO Firms
2017
We argue that the corporate governance of emerging economy IPO firms is influenced by firm-specific institutionally embedded block ownership groups. Applying an extended institutional logic perspective and using a mixed-effects ordered probit model, our findings from 190 IPO-firms from 22 African countries 2000‒2016, support the notion that five major block owner categories (corporate, private equity, non-executive, business group, state) exerts very different influence on African firms’ degree of adoption of Anglo-American corporate governance measures. We find that the influence from the various block owner groups is significantly moderated by institutional quality and tribalism, but to d…
Economic value, competition and financial distress in the european banking system
2012
Abstract In this paper we examine the impact of a large number of factors at the bank level (liquidity and credit risks, asset size, income diversification and market power), at the industry level (banking concentration) and macro-level (real GDP growth) on bank financial distress using an unbalanced panel of 308 European commercial banks between 1996 and 2009. The observations falling below a given threshold of the empirical distribution of the Shareholder Value Ratio proxy bank financial distress. We employ a panel probit regression and, given the presence of overlapping data giving rise to residual autocorrelation, we use the Bertschek and Lechner (1998) robust estimator of the covarianc…
Extreme interdependence and extreme contagion between emerging markets
2007
Abstract This paper uses seemingly unrelated probit techniques to separate the transmission of a crisis due to broadly defined macroeconomic interdependence from contagion due to herding, avoiding some of the caveats of the more traditional cross-correlation approach. We find that pure contagion occurred in a limited number of country pairs generally belonging to the same region. A reduction in speculative pressure can also be identified between countries in different regional blocks. This seems to suggest that after an initial crisis episode, investors tend to discriminate on the basis of location and common macroeconomic weakness or perceived similarity.
Search strategies in innovation networks: The case of the Hungarian food industry
2020
In the food sector, open innovation has become of particular interest. This paper considers open innovation search strategies in the food and beverages industry and examines the probability of using different innovation sources with respect to the type of innovation. Although the information search for new ideas, tools and solutions in the innovation process regarding the scope and depth is well explored and interpreted in the literature, the probability of using the different sources with respect to type of innovation is rarely investigated. To answer these questions, first a probit, then OLS regression model is adopted, in order to understand the chance of a specific source of information…
Waterfront Redevelopment in Post-America’s Cup Valencia: Some Insights from a Survey to Local Residents
2018
AbstractWaterfront renewal is a recurrent event in the life of many cities around the world. Traditionally, planners and geographers have focused on this phenomenon analyzing the ongoing relationsh...
A Comment on the Coefficient of Determination for Binary Responses
1992
Abstract Linear logistic or probit regression can be closely approximated by an unweighted least squares analysis of the regression linear in the conditional probabilities provided that these probabilities for success and failure are not too extreme. It is shown how this restriction on the probabilities translates into a restriction on the range of the coefficient of determination R 2 so that, as a consequence, R 2 is not suitable to judge the effectiveness of linear regressions with binary responses even if an important relation is present.
Forecasting Financial Crises and Contagion in Asia using Dynamic Factor Analysis
2009
Abstract In this paper we use principal components analysis to obtain vulnerability indicators able to predict financial turmoil. Probit modelling through principal components and also stochastic simulation of a Dynamic Factor model are used to produce the corresponding probability forecasts regarding the currency crisis events affecting a number of East Asian countries during the 1997–1998 period. The principal components model improves upon a number of competing models, in terms of out-of-sample forecasting performance.
What makes a citrus farmer go 'organic'? Empirical evidence from Spanish citrus farming
2012
Organic farming is increasing its share of total world food output and receiving grow-ing support from policymakers concerned with agricultural sustainability issues. This paper studies the characteristics of citrus farmers in the Spanish region of Valencia that affect their probability of becoming organic farmers. A fair understanding of these characteristics may help policymakers improve the design of agricultural policies aimed at supporting organic citrus practices. As regards the methodology, a probit model is estimated with information from a sample of conventional and organic citrus farmers obtained from a survey designed for a larger research project aimed at analysing Valencian cit…
¿Qué conduce a un citricultor a ser "orgánico"? Evidencia empírica a partir de la citricultura española
2012
Organic farming is increasing its share of total world food output and receiving grow-ing support from policymakers concerned with agricultural sustainability issues. This paper studies the characteristics of citrus farmers in the Spanish region of Valencia that affect their probability of becoming organic farmers. A fair understanding of these characteristics may help policymakers improve the design of agricultural policies aimed at supporting organic citrus practices. As regards the methodology, a probit model is estimated with information from a sample of conventional and organic citrus farmers obtained from a survey designed for a larger research project aimed at analysing Valencian cit…
Gender-related differences in psychometric properties of WHO Disability Assessment Schedule 2.0
2019
Objective of this study was to investigate the gender-related differential item function of 12-item WHODAS 2.0 amongst patients with chronic musculoskeletal pain. This was a cross-sectional survey study among 1,988 patients at a university Physical and Rehabilitation Medicine outpatient clinic. To assess DIF, WHODAS 2.0 items were dichotomized as `none’ rated by respondents as `0’ versus `any limitation’ rated as `1,2,3 or 4’. The item response theory analysis was used to define discrimination and difficulty parameters of a questionnaire. The probit logistic regression was used to test uniformity of DIF between gender groups. The results of DIF analysis were presented and evaluated graphica…