Добірка наукової літератури з теми "FGLS panel method"

This research includes the study of dual data models with mixed random parameters, which contain two types of parameters, the first is random and the other is fixed. For the random parameter, it is obtained as a result of differences in the marginal tendencies of the cross sections, and for the fixed parameter, it is obtained as a result of differences in fixed limits, and random errors for each section. Accidental bearing the characteristic of heterogeneity of variance in addition to the presence of serial correlation of the first degree, and the main objective in this research is the use of efficient methods commensurate with the paired data in the case of small samples, and to achieve this goal, the feasible general least squares method (FGLS) and the mean group method (MG) were used, and then the efficiency of the extracted estimators was compared in the case of mixed random parameters and the method that gives us the efficient estimator was chosen. Real data was applied that included the per capita consumption of electric energy (Y) for five countries, which represents the number of cross-sections (N = 5) over nine years (T = 9), so the number of observations is (n = 45) observations, and the explanatory variables are the consumer price index (X1) and the per capita GDP (X2). To evaluate the performance of the estimators of the (FGLS) method and the (MG) method on the general model, the mean absolute percentage error (MAPE) scale was used to compare the efficiency of the estimators. The results showed that the mean group estimation (MG) method is the best method for parameter estimation than the (FGLS) method. Also, the (MG) appeared to be the best and best method for estimating sub-parameters for each cross-section (country).

The present study, aimed at determining the level of resilience of a country, identified the effects of the health crisis as a form of external shock on the impact relationship between vulnerability and economic growth. Using a macroeconomic perspective, we conducted panel data estimates on a sample of countries classified by level of vulnerability (high, medium, and low) using the FGLS method for panel data with cross-sectional and serial correlation over the period 2000-2021.

This study intensifies the interrelationship between environmental downfall, economic and industrial enhancement, renewable and non-renewable energy consumption in the period of 1997 to 2018 for the G-7 and selected five MENA countries. The paper intends to explore how renewable energy, fossil fuel, electricity generation, GDP, and industrialization affect the environmental pollution. For a dynamic panel data analysis, some statistical methods have been utilized, including Slope Homogeneity (SH), Cross Section Dependence (CSD), Cross-Section Im-Pesaran-Shin (CIPS), and Cross-Section Augmented Dickey-Fuller (CADF) of the second generation unit root tests, and the second generation (Westerlund-2007) CO-integration test, both Feasible Generalized Least Squares (FGLS), Panel-Corrected Standard Error (PCSE), and dynamic generalized method of moments (d-GMM) panel estimation approach have been applied. Feasible generalized least square (FGLS) shows that if GDP, fossil fuel energy consumption, industrialization, and electricity generation, increase by 1% then CO2 emission increases by 79.8%, 5.3%, 10.37%, and 8.26% respectively. If renewable energy increases by 1% CO2 emission decreases by 6.56%. When GDP growth rises, there is a corresponding increase in environmental pollution within industrialized economies. This demonstrates a positive correlation between GDP, industrialization, and CO2 emissions, which means that as the economy grows, environmental degradation will continue to worsen over time. Therefore, concerned parties should take proper policy steps to protect environment in industries and towards sustainable growth.

The Least Square Dummy Variable (LSDV) method can be used to estimate parameters in the panel data regression model incomplete one-way fixed effect. To produce the best model with GDP data of GRASB. Variables that do not occur heteroscedasticity and models that meet the smallest sum square of error is the variable Mining and Processing Industry, this variable affects the per capita income. The Feasible Generalized Least Square (FGLS) method can be used to estimate the regression parameters for incomplete panel data for a one-way random effect. In this model produce the best model with non-oil and gas GRDP data. The variables that fulfill it are the processing Industry, service, and agriculture of Forestry and Fishery. Therefore looking at the above model can be concluded non-oil and Gas GRDP has three factors that affect per capita income in Bangka Belitung. This should be a reference of local governments to further improve the quality or production in agriculture and services because this potential is more promising for the future. Software used to analyze data in this paper is with R.

Purpose. The aim of this study is to examine the relationship between economic globalization and the ecological footprint in countries with different levels of development using a Feasible Generalized Least Squares (FGLS) analysis. Methodology / approach. The study covers the years 1970 to 2017 for 65 developed and developing countries. The ecological footprint is the dependent variable in the study’s model, and the GDP and KOF Globalization Index (KOF) index are the independent variables. The CADF panel unit root test, which takes into account cross-sectional dependence, was used to choose the appropriate test method for the analysis. Feasible Generalised Least Square and Westerlund ECM panel cointegration analyses were performed for model estimation. Results. Economic globalization and ecological footprint have a considerable relationship, according to the results of FGLS and Westerlund cointegration analysis. Economic globalization has a long-run negative impact on the ecological footprint. Environmental problems are being addressed as a result of more economic globalization, faster technology development, and consequently decreased usage of natural resources. Furthermore, as globalization and communication technologies develop, societies will have more information on the importance of the environment. As a result, they can show more eco-friendly behavior. Originality / scientific novelty. Several studies in the literature include the cointegration relationship between economic globalization and ecological footprint. Although there are few studies on this topic in the literature, one aspect that distinguishes this study is the use of an estimation method that takes into account the cross-sectional dependent, second-generation unit root tests, FGLS cointegration analysis, and Westerlund ECM analysis. Practical value / implications. The importance of the findings is that increased economic globalization has a negative effect on the ecological footprint. As economic globalization increases, so does communication technology, as well as international trade. Individuals become more environmentally conscious as a result of communication, which generally reduces ecological footprint.

This study investigated PPP in 129 low-income and developing countries in Asia, Europe, Africa, And South America during the period between 1990 to 2020 with panel analysis. In this study, we used statistics and regression coefficients using the Panel Ordinary Least Squares (POLS) method, We used Feasible Generalized Least Squares (FGLS) regression to triangulate the POLS. We found that governments of low-income and developing countries need increased savings in GDP. The finding of a positive relationship between the share of total investment and the number of PPP projects indicates a lack of infrastructure in low-income and developing countries. The need for additional capital in developing countries encourages low-income and developing countries to encourage PPPs.

This research intends to investigate the influence of the COVID-19 pandemic on the financial performance of the banking sector in Northern Europe spanning from 2010 to 2021. In order to execute an empirical investigation into the elements that influence profitability, we worked with the OLS method (FGLS panel-data model). The results demonstrate the importance of factors that are both macroeconomic and specific in explaining profitability. Specifically, the capital adequacy ratio (CAR) exerts a noteworthy influence on bank profitability. Additionally, the bank's Z-score exhibits a negative correlation with the net interest margin (NIM) and attains statistical significance.

Purpose This study aims to expand the conventional tax effort model to incorporate relevant economic freedom variables to investigate whether economic freedom fosters tax revenue performance in `sub-Saharan Africa (SSA). Design/methodology/approach This study uses data from 42 countries across the four sub-regions of SSA from the period 2005 to 2012 with 252 year-country observations in an unbalanced panel method. The data were statistically treated using feasible generalised least square (FGLS) and panel-corrected standard errors (PCSE) estimate techniques. Findings The findings are twofold. First, the principal finding of the study suggests that economic freedom promotes tax revenue performance. Precisely, the FGLS analysis indicates that property rights freedom, freedom from corruption and investment freedom, as well as the composite economic freedom, exerted positive significant impact on tax revenue performance. This implies that country, which attained high degree of economic freedom, is likely to have higher tax-to-GDP ratio than a country with low level of economic freedom. Secondly, the results of most conventional variables conform to the prediction in the traditional theory except per capita income. Specifically, agriculture share in GDP and per capita income indicate negative significant relationship with tax revenue performance. Originality/value Because little is known empirically about the connection between economic freedom and tax revenue performance, this study extended the conventional tax effort model to incorporate the economic freedom to bridge the knowledge gap due to the absence of empirical evidence on the relationship between economic freedom and tax effort.

This paper examines the impact of audit committee characteristics on the performance of Saudi listed banks. Data are collected from the annual reports of Saudi listed banks from 2010 to 2018. To test hypotheses, this study applies the random effects model as the main method of analysis, while the ordinary least square (OLS), the feasible generalized least squares (FGLS), and the panel-corrected standard errors (PCSE) methods are used for robustness check and additional analysis. The empirical results indicate a significant positive effect of audit committee independence on all measures of bank performance (ROA, ROE, Tobin’s Q). The empirical results of this study also provide important implications for regulatory bodies and market participants in Saudi Arabia and developing countries to understand the actual role of different attributes of the audit committees on firm performance.

Although there is an abundant literature on the determinants of the real effective exchange rate, no study has focused specifically on all the African countries in the Franc zone, whose currencies are still pegged to the euro by a fixed parity, despite the end of the gold standard in 1971. The main objective of this article is to identify the main factors explaining the real effective exchange rate in the franc zone. The data used in this work cover 15 countries that use the CFA franc over the period 1990-2019. To achieve our objective, we mobilized several estimation methods such as the Driscoll and Kraay method, the Panel Corrected Standard Error (PCSE) and the Feasible Generalized Least Squares (FGLS) method. The results of this study reveal that inflation, money supply, the interest rate, gross domestic product per capita, imports and direct investment are the main determinants of the real effective exchange rate in the franc zone.

Un financement par Equity lines permet à une entreprise de mobiliser des fonds supplémentaires à tout moment durant une période convenue afin de renforcer ses capitaux propres. Peu de recherches se concentrent sur ce mécanisme de financement par Equity lines et aucune sur les déterminants de la structure du capital, des mécanismes internes liés à la gouvernance et du contenu informationnel des marchés boursiers. Cette thèse s'articule autour de trois segments de recherche inter-reliés. Elle explore l'utilisation des mécanismes d’Equity lines, afin de mieux appréhender les critères qui motivent le recours à ce type de financement, en examinant à la fois les facteurs spécifiques aux entreprises et ceux relevant de leur environnement général. Notre recherche montre que les opportunités de croissance, la liquidité et le degré de développement du marché boursier (maturité, expérience des intermédiaires financiers, nombre de transactions, etc.) constituent les facteurs déterminant dans le choix d’un financement par Equity lines. Cette thèse prouve également que ces financements se retrouvent dans des entreprises à actionnariat managérial, dirigées par des hommes non enracinés, relativement âgés et moins diplômés, qui assurent la fonction de président du conseil d'administration. Nos travaux examinent enfin le contenu informationnel lors de l'annonce de l'émission d'Equity lines. Ils montrent que la réaction négative du marché autour de la date d'annonce, et la persistance de cet effet après la date d’annonce, soutient l’hypothèse de la signalisation d'informations privilégiées. Les différentes conclusions de cette thèse enrichissent le corpus de connaissances sur la structure du capital, la gouvernance d'entreprise et les marchés financiers. Mais les conséquences en termes de risques inhérents aux investissements utilisant cet instrument financier suscitent des interrogations à ce jour. Il s’agit notamment du risque de perte du capital investi, associé à une forte pression à la baisse sur le cours de l'action
Equity lines financing allows a manager to raise additional funds at any time during an agreed period to strengthen his or her equity. Little recent research has focused on this Equity lines financing mechanism and none on the determinants of capital structure, internal governance mechanisms, and the information content of equity markets. This thesis is structured around a set of interrelated research segments. It explores the use of Equity lines mechanisms to better understand the factors that motivate the use of this type of financing, by examining both the factors specific to companies and those related to their general environment. Our research shows that growth opportunities, liquidity, the degree of development of the stock market (maturity, experience of financial intermediaries, number of transactions, etc.) are the factors that determine the choice of Equity lines financing. This thesis also proves that male executives, who are not entrenched, relatively old and less educated, also serve as chairman of the board of companies with managerial shareholding. Our work evaluates the information content of the announcement of the Equity lines issue. We show that the negative market reaction around the announcement date, and the persistence of this effect after the announcement date, support the hypothesis of inside information reporting. The various findings of this thesis add to the body of knowledge on capital structure, corporate governance and financial markets. The consequences on the risks inherent in investments using this financial instrument are questionable. These include the risk of losing the capital invested, which is associated with strong downward pressure on the share price

The aim of this study is to examine whether equity market development and ICT affect clean energy consumption in 18 high-income countries during the period 1990-2015. In the analysis, firstly, the stationarity properties of the variables are tested with the CADF and CIPS tests. In the second stage, cointegration between the variables in the model is investigated by Westerlund, Kao, and Pedroni methods. In the next step, the long-run elasticities of the variables are estimated using the PCSE and FGLS methods. The causality between the variables is also determined by applying the Dumitrescu-Hurlin panel causality method. According to findings, cointegration between clean energy consumption and equity market development, ICT, economic growth, and CO2 emissions variables, which integrated at I(1) level, is proven. The long-term findings showed that the equity market, ICT, and economic growth encourage clean energy consumption of 18 high-income countries, and CO2 emissions also prevent them. In addition, there is bidirectional causality between clean energy consumption and other variables.

Many low-income countries are increasingly digitising their tax services, which can bring a range of benefits, from reducing compliance costs and improving record-keeping, to limiting opportunities for corruption and increasing fairness in the tax system. However, the success of these benefits depends on adequate levels of awareness and adoption of e-services among taxpayers; where these levels are suboptimal, tax e-services may produce only partial benefits. This paper examines the extent of awareness and uptake of tax e-services in Rwanda from a pre-pandemic situation up to two years into the COVID-19 crisis. The country has increasingly digitalised its tax administration, even more so during the pandemic. Electronic filing and payment of taxes have been mandatory since 2015, and two different e-services are available: E-tax, a free web-based platform designed to be used on computers and smartphones, and M-declaration, a feature phone-based application which enables mobile money payments and a simpler process for filing a return. This allows us to run a comparative analysis of the two solutions. We apply a mixed methods approach, using a nationally representative panel survey of 2,000 corporate (CIT) and personal (PIT) income taxpayers, with baseline information collected pre-COVID-19 and four follow-up rounds carried out after the pandemic hit, and focus group discussions (FGDs) with 24 e-services users. Summary of Working Paper 153.