Search results for "SAMPLE"
showing 10 items of 2270 documents
Export markets: substitutes, complements, or independent?
2020
Using a large sample of export transactions in Spain over the period 2010–2017, we explore whether firms treat export markets as substitutes, complements, or independent. We find that an exogenous ...
Market risk disclosure in banking: an empirical analysis on four global systemically important European banks
2017
Market risk reporting in banking has assumed such importance during the last decade. The purpose of this paper is to provide a methodology to evaluate the qualitative and quantitative profiles of the market risk disclosure in banking. We propose a hybrid methodology to assess whether or not banks are able to provide a satisfactory degree of information about the market risks they are exposed to. In this paper, we conduct an empirical research of market risk disclosure on a sample of four global systemically important European banks. The paper provides evidences that banks differ in their market risk reporting models, even though they are subject to similar regulatory requirements and accoun…
Centralised or decentralised banking supervision? Evidence from European banks
2021
Abstract This paper analyses the impact of the Banking Union on European bank credit risk. Specifically, we investigate the effect that the establishment of the Single Supervisory Mechanism has had on the credit risk of the banks it supervises in comparison to financial institutions that are still supervised by National Supervisory Authorities. We analyse a sample of 746 European banks over the period 2011–2018, by means of a difference-in-differences methodology. We provide empirical evidence that Single Supervisory Mechanism supervised banks reduced credit risk exposure compared to banks supervised by National Supervisory Authorities, suggesting that the Banking Union has successfully red…
Credit derivatives disclosure in banks’ risk reporting: Empirical evidence from four large European banks
2019
This paper aims to analyze the derivatives disclosure in banks’ annual risk reports. In this paper, the author uses content analysis to examine the qualitative and quantitative profiles of the derivatives disclosure at a cross-country level, with particular reference to credit derivatives. The empirical research is conducted on a sample of large European banks. The paper also shows that there is room to improve various aspects of derivatives disclosure, and provides some useful insights for further research. The derivatives disclosure in banks’ annual risk reports has deep managerial, financial, regulatory and accounting implications at a firm and industry levels, and the comprehension of t…
Simultaneity between strategic variables: Production, innovation, and product differentiation
1995
This paper aims to analyze the existence of simultaneous effects among the variables production, product differentiation, and innovation. Microeconomic data from a sample of 2,160 firms are used as a base. Empirical results show that a positive correlation exists from innovation to product differentiation, thus showing that it is in the process of production itself, through technical improvements, where product differentiation is determined. On the other hand, no positive effect exists from product differentiation to innovation, i.e., once technical improvements have been established, firms exchange the barriers to entry created by brand image for the real barriers established by innovation…
The democratization process: An empirical appraisal of the role of political protest
2020
Abstract This paper analyses the role of peaceful and violent protest in the democratization process. We interpret the democratization process as a sequence of phases so as to allow citizens' and elites' preferences for democracy to vary according to the particular phase that a country is experiencing. By doing so we jointly model the probability of protest and of moving through different phases of democracy taking into account time-constant and time-varying unobserved heterogeneity. In particular, we develop a multivariate finite mixture model that introduces a latent variable to capture unobservable factors. On a sample of 171 countries from 1971 to 2010, we provide evidence that protest …
Balance sheet versus earnings conservatism in Europe
2004
In this study we extend prior research on the international analysis of accounting conservatism (Joos and Lang, 1994; Ball et al., 2000; Giner and Rees, 2001), by examining the level of accounting conservatism across eight European countries (United Kingdom, Germany, France, Switzerland, the Netherlands, Italy, Spain and Belgium), and assessing the statistical significance of the differences among them. The definitions of conservatism that we use are, on the one hand, the Feltham and Ohlson (1995) definition, which implies a persistent understatement of book value of shareholders' equity (balance sheet conservatism). On the other hand, we use the one proposed by Basu (1997), that is, a time…
Income Inequality and Technology Diffusion: Evidence from Developing Countries*
2011
We study the effect of within-country income inequality on the diffusion of mobile phones using data on market penetration in a sample of developing countries from 1985 to 1998. Mobile phones are an example of international technology, originating in industrialized countries and diffusing worldwide. We find that income inequality, as measured by the income share of the highest earning deciles, has a positive effect on the early diffusion of mobile phones and that the estimated effect becomes greater when a measure of agricultural endowments is used as an instrument. The instrumental variable results are robust to weak instruments. Our findings suggest that the diffusion of new technologies …
Temporary contracts and young women in Spain
2008
In this article we analyse the determinants of temporary employment through a balanced panel of workers from 1995 to 2000. First, we estimate a panel with 1267 individuals with ages ranging from 16 to 65 years. We obtain that the probability of having a temporary contract increases for people younger than 46 years old. Secondly, we estimate separately the sample of people younger than 46 years old and we obtain that the probability of temporality increases for young people with university level of education. More interestedly, the probability of being in a temporary contract is smaller for young women that for young men in Spain.
TERRORISM AND INTERNATIONAL TOURISM: NEW EVIDENCE
2008
This paper analyses the impact of terrorist activity on international tourist flows. To this end, we have estimated a cross‐sectional gravity equation for tourism from the G‐7 countries to a sample of 134 destinations over the period 2001–2003. Within this framework, we evaluate the deviation from ‘normal’ tourist flows due to terrorist activity, which is considered as negative advertising for the affected country. The analysis suggests that both domestic victims and international attacks are relevant factors when foreign tourists make their choice. This result is robust under alternative specifications. Moreover, the impact of terrorism is more severe in developing countries. The author is…