Search results for "leverage"
showing 10 items of 100 documents
SEA presidential address: Group connectivity and cooperation
2011
A model-free methodology is used for the first time to estimate a daily volatility index (VIBEX-NEW) for the Spanish financial market.We use a public data set of daily option prices to compute this index and showthat daily changes in VIBEXNEW display a negative, tight contemporaneous relationship with IBEX daily returns, contrary to other common volatility indicators, as an implied volatility indicator or a GARCH(1,1) conditional volatility model. This relationship is approximately symmetric to the sign on VIBEX-NEW changes and asymmetric to the IBEX-35 returns sign, which make it clearly a suitable volatility index for the Spanish stock market. We also examine the relationship between curr…
Leveraging Uncertainty Estimates to Improve Segmentation Performance in Cardiac MR
2021
In medical image segmentation, several studies have used Bayesian neural networks to segment and quantify the uncertainty of the images. These studies show that there might be an increased epistemic uncertainty in areas where there are semantically and visually challenging pixels. The uncertain areas of the image can be of a great interest as they can possibly indicate the regions of incorrect segmentation. To leverage the uncertainty information, we propose a segmentation model that incorporates the uncertainty into its learning process. Firstly, we generate the uncertainty estimate (sample variance) using Monte-Carlo dropout during training. Then we incorporate it into the loss function t…
Asset Tangibility, information asymmetries and intangibles as determinants of family firms leverage
2022
Using a sample of Spanish tourism small and medium-sized firms, we have tested the impact of family control, publicly-available information and tangibility on financial structure, providing a multi-theoretical model that incorporates contributions from the classical theory of finance, inspired by agency theory, the behavioural theory of the firm and strategic theory. The results point to the need to jointly consider the effects of information transmission practices, asset investment decisions and ownership structures on debt capacity. The results show how family control is associated with propensity to take on debt, so that the desire to maintain social control and socioemotional wealth pre…
Determinants of Consumer's Buying Behavior for digital products in Trade Fair
2019
The purpose of this study is to examine the factors which have an effect on the intention to shop digital products at the India International Trade Fair. The study comprises both qualitative and quantitative analysis of the buying behaviour of consumers who visit trade fair. For this, a sample of 160 respondents has been taken by using non-random convenience sampling method. The key factors, i.e., value for money (price and quality), brand awareness and service utility were identified and analysed through the use of factor analysis. Findings point out that value for money and brand awareness are the most important variables that influence decision of consumers to shop at trade fair. The stu…
The Role of Labour and Associated EU Liberalization Challenges: Insights from the Port Sector
2013
An influential argument holds that labour unions are not likely to succeed in their objectives through current European decision-making processes. In addition, the European Union has extensive leverage to introduce negative integration due to asymmetries towards liberalization in the treaties. Given such arguments it is of interest to study a case, where attempts of EU liberalization reform have failed and labour unions claim this is their victory. An in-depth analysis of the decision-making process of the proposal for a Port Directive highlights that labour unions are most influential when they are able to exploit the division of industry interests to resoundingly oppose policy change. Mor…
Cross-Commodity Spot Price Modeling with Stochastic Volatility and Leverage For Energy Markets
2013
Spot prices in energy markets exhibit special features, such as price spikes, mean reversion, stochastic volatility, inverse leverage effect, and dependencies between the commodities. In this paper a multivariate stochastic volatility model is introduced which captures these features. The second-order structure and stationarity of the model are analyzed in detail. A simulation method for Monte Carlo generation of price paths is introduced and a numerical example is presented.
Sustainable Development and Assurance of Corporate Social Responsibility Reports Published by Ibex-35 Companies
2012
Spain is the world's leading country as regards corporate social responsibility (CSR) reporting (KPMG, 2011). In addition, Spain is taking new initiatives with regard to environmental policy, sustainable development, and stakeholder engagement in accordance with Law 2/2011.This is why we choose Spain as the setting to analyze whether the determinants for external assurance posited by existing literature (industry, size, profitability, leverage) have an impact on the decision of companies to assure their CSR reports. Our study is a pioneer in the sense that it investigates the possible links between the auditor of the annual report and the provider of assurance. The results of this study ind…
Donation Crowdfunding : Principles and Donor Behaviour
2020
AbstractDonation crowdfunding is a form of internet-enabled fundraising where backers provide funding based on philanthropic motivations without expectation of monetary or material rewards. Despite accounting for only a marginal share of global crowdfunding volumes, donation crowdfunding is a unique model for supporting a wide range of prosocial and charitable causes, while allowing fundraisers to leverage benefits afforded by ICT solutions for more effective and efficient fundraising. The chapter provides an overview of the limited research on donation crowdfunding while highlighting donor motivations and behaviour, as well as drivers of success in donation campaigns. We find that current …
Classification of Target Markets and Features of Segmentation in Marketing Places
2008
This paper examines target markets and the strategy of marketing places as an economic instrument directed to the development of countries, regions, cities and towns. The authors give a classification of potential target markets of a territory and their characteristics on an example of Latvia.Markets’ segmentation for realizing the strategy of marketing places is of great value as it allows concentrating activity on the most perspective directions of territory development and on methods of particular group attraction. It gives an opportunity to work with separate categories of consumers, to make marketing policy more direct and more expressive, to promote competitiveness of a territory and …
Factors influencing the adoption postponement of mobile payment services in the hospitality sector during a pandemic
2021
Abstract In the post-COVID-19 era, the hospitality sector may witness a wider use of mobile payment services (MPS) not requiring physical contact. But consumers may postpone adoption of MPS in wait for a more attractive iteration. Given consumers' reluctance to adapt to such services, an investigation into MPS adoption postponement and the factors contributing to it is thus needed. Our research model extends the innovation resistance theory by including two behavioral measures (privacy concerns and visibility) and examining how security concerns moderate the associations between them. We analyzed data from 308 respondents who had previously purchased accommodation and transportation service…