1,720,964 research outputs found
Impactul crizei asupra evoluției investiţiilor în companiile necotate din Europa de Est
No full textL’objet de cette recherche est d’identifier et analyser les facteurs déterminants de l’évolution du capital-investissement dans l’Europe de l’Est. De plus, notre travail compare les déterminants de LBO, respectivement de l’activité de VC dans les pays d’Europe de l’Est. Le modèle empirique comprend de nombreux déterminants déjà testés dans des études précédentes ainsi que de nouvelles variables telles que la productivité et l’indice de corruption, que nous considérons comme des facteurs importants pour expliquer l’évolution des investissements en capital-investissement en Europe de l’Est. Nos résultats confirment les hypothèses existantes concernant l’importance de certains déterminants sur l’évolution des investissements en capital-investissement en Europe de l’Est. Cependant, dans le contexte de la dernière crise, de nouveaux facteurs sont apparus comme importants pour le marché du capital investissement en Europe, tels que la productivité ou la corruption. La dernière partie de cette recherche montrent que les sociétés de capital-investissement en Europe de l’Est préfèrent les sorties à travers des fusions et acquisitions, suivies des introductions en bourse. De plus, nous validons une relation d'équilibre à long terme entre les investissements en capital-investissement, les introductions en bourse et les fusions et acquisitions. Le test de causalité de Granger montre l'existence d'une causalité unidirectionnelle du nombre de fusions et acquisitions par rapport au volume des investissements en capital-investissement en Europe de l'Est.The purpose of this research is to identify and analyze the determinants of the evolution of private equity in Eastern Europe. Additionally, this paper compares the determinants of leveraged buyout activity, respectively venture capital activity in Eastern European countries. The empirical model of the first two sections includes many of the determinants already tested in previous studies and also new variables such as productivity and corruption index which we consider important factors in explaining the evolution of private equity investments in Europe. Our results confirm existing hypotheses regarding the importance of some determinants on the evolution of private equity investments in Europe. However, in the context of the last crisis new factors emerged as important for the private equity market in Europe such as productivity or corruption. The last section of this work tests the existence of a causal link between the evolution of private equity and the number of divestments of private equity funds in Eastern Europe during the financial crisis. Our results show that Eastern European private equity firms prefer M&A exits followed by IPOs. Furthermore, we validate a long-term equilibrium relationship between private equity investments, IPO and M&A. The Granger causality test shows the existence of a unidirectional causality of the number of M&A to the volume of private equity investments in Eastern Europe
EMPIRICAL EXAMINATION OF THE CLASSICAL DIVIDEND POLICY THEORIES IN EU-28 COUNTRIES
No full textDividend policies and their impact on company value represent a subject which attracted strong academic interest, with many researchers bringing their contributions at solving the discussion based on the standard theory. The main objective of the paper is to revisit the classical dividend theories in the context of the EU-28 countries over a 9 year timeframe (2009-2017) which is an extension of previous studies on the topic over the same geographical zone. The motivation of the study is to identify those factors which determine the dividend decisions for the companies comprised in the sample we used and compare the results to the previous studies on the topic to see whether the classical theories still stand or there are shifts towards other factors. The results of the paper show that the lifecycle theory of dividends together with the pecking order theory and the available cashflow theory are still standing, and that both the accounting and market performance of the company have a significant impact on the level of dividends paid by the company
From the "Strawberry Jam" to the "Sushi-Bar": Romanian Migration in the Context of Asia’s Increasing Economic Role
Full text linkThe paper analyzes the following points: 1) The increase of Asia’s economical role (consequences of moving the world economic centre from the Atlantic to Pacific; the new centres of power: China and Japan; Asia’s attraction; the new economical configuration, an important migration vector) 2) Romania and the Strawberry Jam. Comparative analysis between countries of destination for Romanian emigration; remittances versus FDI; the influence of the economic crisis on development. 3) Chinese Diaspora in Romania. Romanian migration to Japan. Specificities, trends, development of phenomena. How to create a Romanian Diaspora
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Is technological innovation a push for trade friction?
Full text linkThis study analyses the interrelation between technological innovation
(TI) and trade friction (TF) by applying the bootstrap rollingwindow
full- and subsample Granger causality test from China in
a sample from January 2002 to December 2021. Results show
that the influence of TI on TF is twofold. On the one hand, TI is a
push for TF. This finding is consistent with the ‘income effect’,
which postulates that TI leads to more TF by affecting the income
of other countries. On the other hand, TI has a negative influence
on TF. This result confirms the ‘substitute effect’, implying that TI
can benefit consumers by providing more high-quality and
cheaper products. In turn, TF can hinder TI by reducing exporters’
profits. Based on these findings, governments should coordinate
their efforts toward innovation and trade policies. At the same
time, firms should master core technology and develop their
high-performance products to avoid the risk of TF
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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