Dynamic panel evidence

This paper investigates the impact of governance characteristics on financial performance of companies listed on Ho Chi Minh City Stock Exchange. By employing system generalized method of moments (SGMM) estimator and a panel dataset covering 152 firms over a period from 2011 to 2016, our results confirm that corporate governance characteristics, viz. the size of board and block-holder ownership, do affect firms’ financial performance in Vietnam.

12p vijihyo2711 25-09-2021 16 1   Download

This study is aimed at investigating the asymmetric effect of oil price change on inflation for Sub Saharan Africa (SSA) countries. Based on the findings from the dynamic heterogenous nonlinear panel ARDL estimation, a panel data representation of Shin et al. (2014), the long run asymmetric relationship exists between both oil price increase (op+) and decrease (op− ) and inflation for these countries. Nevertheless, the oil price increase tends to exert more effect on inflation than the oil price decrease.

11p nguaconbaynhay10 22-02-2021 12 1   Download

Annual data on external debt, foreign direct investment and financial development were extracted from the World Bank World Development Indicators from 2002 to 2015. The data employed were analysed within causal research design and the dynamic panel using generalized method of moment estimation approach.

18p nguathienthan5 03-06-2020 22 3   Download

This paper investigates the effect of investments in subsidiaries, joint ventures and affiliates (affiliate investment) on firm growth. Using both static and dynamic panel data models with a sample dataset of 2,056 firm-year observations on Vietnam’s stock market from 2008-2015, the study finds that increasing affiliate investment in prior periods had a significantly positive impact on asset growth and net income growth (but not sales growth) of the firms in subsequent periods.

14p kelseynguyen 26-05-2020 44 1   Download

In this paper the authors wanted to reveal the relationship between overall economic development measured by gross domestic product per capita (GDPPC) influences the insurance market development measured by indicators such as gross written premium per capita (GWPPC) and the share of gross written premium in GDP. Therefore, the authors have calculated correlation coefficients for EU27, and separately for old EU members (EU15) and new EU member states (EU12) for the 2000-2009 period.

12p covid19 19-04-2020 26 4   Download

Using the GMM estimator, this paper empirically studies the bank-specific, industry specific and macroeconomics specific determinants of bank profitability of 259 commercial banks in the South Asian countries (Bangladesh, India, Nepal and Pakistan) for the period of 1997-2012. Empirical results show a low level of profit persistency and a late-hit of the global financial crisis in the banking sector in the region. We found no evidence for the traditional SCP hypothesis in relation to banking profit but financial solvency and managerial excellence have positive affiliation.

21p trinhthamhodang2 21-01-2020 29 2   Download

This paper empirically examines how the local financial development and institutions influence a country’s capacity to take advantage from remittances over the period 1985-2014. We use a dynamic panel threshold model (see Hansen, 1999 and Caner and Hansen, 2004) to estimate remittances thresholds for long-term economic growth. The evidence strongly suggests that the impact of remittances on economic growth depends on the level of financial development and the institutional environment.

36p chauchaungayxua2 19-01-2020 21 3   Download

This is a pioneer study investigating the relationship between environmental compliance and TFP convergence for SMEs. It examines the impacts of environmental compliance, and its combination with innovation, on TFP convergence of manufacturing SMEs. We applied the dynamic panel regression method to estimate stochastic TFP. We find evidence of a β-convergence but a σ-divergence. Impacts of environmental practices of firms—pollution abatement and control expenditure, and environmental treatment—are only significant through their interaction with innovation.

33p chauchaungayxua2 04-01-2020 19 1   Download

This is a pioneer study investigating the relationship between environmental compliance and TFP convergence for SMEs. It examines the impacts of environmental compliance, and its combination with innovation, on TFP convergence of manufacturing SMEs. We applied the dynamic panel regression method to estimate stochastic TFP. We find evidence of a β-convergence but a σ-divergence. Impacts of environmental practices of firms—pollution abatement and control expenditure, and environmental treatment—are only significant through their interaction with innovation.

32p chauchaungayxua2 04-01-2020 18 2   Download

In this paper we use a dynamic panel data model (system GMM estimator) to analyze bank-specific and macroeconomic determinants of bank risk as measured by the Z-score of 70 listed commercial banks operating in six Southeast Asian countries over the period from 2005 to 2013.

17p danhnguyentuongvi27 18-12-2018 34 1   Download

Traditional estimates that often find minimum wage disemployment effects include controls for state unemployment rates and state- and year-fixed effects. Using CPS data on teens for the period 1990–2009, we show that such estimates fail to account for heterogeneous employment patterns that are correlated with selectivity among states with minimum wages. As a result, the estimates are often biased and not robust to the source of identifying variation.

36p bin_pham 06-02-2013 59 3   Download

For U.S. data, we limit our presentation to two return window specifications. The first specification, illustrated in Panel B of Appendix 1, compares mean daily returns occurring during one calendar week centered on the new moon date (new moon date +/- three calendar days) vs. the mean daily returns occurring during the calendar week centered on the full moon date (full moon date +/- three calendar days). Thus, since the lunar month has a length of about 29.5 days, the first specification uses only about half of all available daily returns.

0p bocapchetnguoi 06-12-2012 58 1   Download