Search results for "Union"
showing 10 items of 2069 documents
Another Look at Momentum Crashes
2015
This paper studies the profitability of a selection of prominent momentum-based strategies in the European Monetary Union. In contrast to past examples documenting the lack of profitability of unconditional price momentum in the most recent decade, the current research finds that unconditional price momentum yielded significant positive payoffs. There is evidence of option-like behavior for strategies based on intermediate past performance. Surprisingly, there is no such evidence for the momentum strategy based on recent past performance .
Exogenous Interference: The European Union’s Economic Partnership Agreements and the Stalled SADC Customs Union
2017
Focussing on the struggle for the scheduled SADC Customs Union, Muntschick reveals that extra-regional actors can actually have a negative impact on regional economic integration in the SADC. Firstly, this chapter refers to the organisation’s agenda on market integration and clarifies the intra-regional demand for the envisaged customs union. Secondly, it highlights the SADC member states’ important but asymmetric trade relations to the European Union and, in regard to this shadow structure of extra-regional interdependence, explains the interfering impact of Brussels’s Economic Partnership Agreements (EPA) on deeper market integration in the SADC. This chapter concludes that the European U…
PRICE CONVERGENCE IN THE EUROPEAN CAR MARKET
2008
International audience; This paper examines price convergence in the European Union car market over the period 1995-2005. We find that there is a clear evidence of price convergence among the EU15 countries, but not before 1999. Moreover, countries of the Economic and Monetary Union (EMU) started convergence previously to the EU15 as a whole. Finally, exchange rate changes have significantly contributed to price dispersion over time across countries. The results provide significant evidence that trade liberalization and the EMU have enhanced the process of regional integration in the European automobile industry, even though there is room for further measures to promote integration.
Convergence in car prices among European countries
2011
This article contributes to the literature on price convergence in Europe by investigating the existence of stochastic and deterministic convergence of car prices in the EU15 countries. We apply recently developed econometric techniques that allow for multiple structural breaks to an up-to-date dataset. We find considerable evidence of both types of convergence in our sample of countries and car models, therefore suggesting a tendency for relative prices to equalize over time. In addition, we find evidence regarding the importance in this convergence process of both legislative changes taking place in the years 1996 and 2002, and the implementation of Economic and Monetary Union (EMU).
Employability and Finnish University Graduates
2010
In this article the authors concentrate on the change in the concept of employability during the Bologna process. They show that employability has gradually moved from a peripheral to a core presence in the most recent Bologna process documents. Using a Finnish university merger (University of Eastern Finland) as an example, the authors demonstrate that implementation of the Bologna process has reached the most remote eastern border of the European Union. The Bologna process is shaping the Finnish universities, and employability discussion is embedded in university reforms. The authors argue that the reason why employability has been raised as one of the core concepts of the Bologna proces…
A bootstrap approach to analyse productivity growth in European banking
2010
This paper analyses productivity growth for European banks over the 1995–2001 period. In contrast to previous literature, our study covers the majority of current European Union (EU) countries—all except Greece and those joining the EU in 2004. We also use resampling methods so as to gain statistical precision, which turns out to be especially important due to the limitations of the database. In order to be consistent, we use additional nonparametric methods to disentangle why productivity differentials might exist. Results show that productivity growth has occurred in most countries, mainly due to improvements in production possibilities. The bootstrap analysis yields further evidence give…
Entrepreneurial ecosystems for developing the sports industry in European Union countries
2021
Abstract In recent years, the entrepreneurial ecosystem approach has gained particular interest worldwide for understanding the context of entrepreneurship at the macro level. However, although the sports sector is gaining importance in the European Union and can improve people's health, generate employment, and contribute to countries' GDP, no research from this perspective has been found. Thus, this paper aims to analyze the influence of different indicators related to innovation on European Union countries' shared sport-related GDP (last data available from 2012 were used). The results showed that 12 solutions could explain 76% of the cases of high levels of shared sport-related GDP. The…
The Compound Machinery of Government: The Case of Seconded Officials in the European Commission
2008
textabstractThis article explores the compound machinery of government. Attention is directed toward decision making within the core executive of the European Union - the European Commission. The article studies seconded national civil servants (SNEs) hired on short-term contracts. The analysis benefits from an original and rich body of surveys and interview data derived from current and former SNEs. The decision-making dynamics of SNEs are shown to contain a compound mix of departmental, epistemic, and supranational dynamics. This study clearly demonstrates that the socializing power of the Commission is conditional and only partly sustained when SNEs exit the Commission. Any long-lasting …
Management factors affecting the performance of technology firms
2010
Abstract This paper analyzes high-technology firms within the European Union to determine the factors that influence performance through business productivity. The study examines six different factors that are representative of entrepreneurial activity, firstly from a purely business standpoint, and subsequently from the areas of production and technology, human resources, strategy and marketing and, lastly, the economic-financial area. Results indicate a direct relation between productivity and factors such as private borrowing, dynamism or using price as a strategic factor, while the reverse is true for concepts such as family resources, level of investment in R&D or training programs.
Assessing the impact of operating lease capitalization with dynamic Monte Carlo simulation
2019
Abstract The European Commission has recently adopted a new accounting standard for leases that will be implemented in 2019, which requires operating lease contracts to be included in the balance sheet, affecting key ratios, leverage and profitability. We simulate the impact of IFRS 16 using Monte Carlo method, which incorporates the uncertainty of the future value of variables when making predictions. Unlike prior studies based on historical data, our study considers a five-year forecast horizon and, more importantly, contemplates several probable scenarios. Based on the STOXX All Europe 100, our results confirm that, in 2019, liability maturity, liquidity and return on assets will decreas…