532 research outputs found
Assessing variations in foreign direct investments under international financial reporting standards (IFRS) adoption, macro-socioeconomic developments and credit ratings
No full text© Evangelos Daskalopoulos, Anastasios Evgenidis, Athanasios Tsagkanos, Costas Siriopoulos, 2016. The main purpose of this paper is to investigate the impact of an endogenous relationship between international financial reporting standards (IFRS) and sovereign credit ratings on the factors that determine foreign direct investments, by using an instrumental variable panel data framework. The results show that the adoption of IFRS by developed economies is interpreted by credit rating agencies as a positive sign that the firms will provide more transparent financial reports. In addition, the authors find that the consideration of the endogenous relationship between IFRS and credit ratings for developed economies highlights the importance of some variables that was not evident previously such as the degree of corruption and the educational level. Finally, the authors suggest that foreign direct investments are more easily attracted when one considers a joint factor which captures people’s perceptions about the ability of the government to implement policy and regulations that promote the development of public and private sector
The Δρομοδείχτης της Ελλάδος of 1824 and Athanasios Stageirites (Τίτλος περίληψης)
No full textσ. [281]-290Κείμενο στα ελληνικά με περίληψη στα αγγλικά με τον τίτλο: The Δρομοδείχτης της Ελλάδος of 1824 and Athanasios StageiritesThe article first examines the close relationship between the publication “Δρομοδείχτης της Ελλάδος” [1824] and the publication “Ηπειρωτικά” (1819) by Athanasios Stageirites and then suggests that Athanasios Stageirites is the likeliest author of the “Δρομοδείχτης της Ελλάδος”.Δωδώνη: Τεύχος Πρώτο: επιστημονική επετηρίδα του Τμήματος Ιστορίας και Αρχαιολογίας της Φιλοσοφικής Σχολής του Πανεπιστημίου Ιωαννίνων; Τόμ. 43-44 (2014-2015
Minimisation of bias of Pearson correlation coefficient in presence of coincidental outliers
No full textMinimisation of bias of Pearson correlation coefficient in presence of coincidental outliers
No full textDataset in support of the Southampton doctoral thesis 'The boatbuilding tradition of the Aegean during the Late Neolithic – Early Bronze Age periods. Typological classification, digital reconstruction and seakeeping assessment'
No full textDataset in support of the Southampton doctoral thesis 'The boatbuilding tradition of the Aegean during the Late Neolithic – Early Bronze Age periods. Typological classification, digital reconstruction and seakeeping assessment' Appendix D - Resistance data and Appendix C - Stability data.
This dataset is focused on two appendices:
Appendix D - Resistance data. D.1 Resistance data produced by the author via MAXSURF Resistance for this thesis.
Appendix C - Stability data
C1. Stability data – STIX and ISO criteria, produced by the author via MAXSURF Stability software for his thesis
This research was funded by Southampton Marine and Maritime Institute (SMMI), Vice-Chancellor's Scholarship, Greek Archaeological Committee UK (GACUK)
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Ex - Post Risk and the Cyclicality of Banks’ Self - Discipline: Evidence from the USA banks
No full textBank firms try to improve their efficiency by offering credit to large firms which extent trade credit to those firms that are blocked from bank credit or faces high possibilities to not pay back their loans. This self-discipline helps banks to become more prudent when they lend risky firms such as small and medium size firms. So, the aim of this research is to empirically examine if both credit cycle of large lending and business cycle affect the ex-post credit risk (i.e. non-performing loans) in the banking system of USA. A unique data set is created by using the Statistics on Depository Institutions report compiled by the Federal Deposit Insurance Corporation covering the period between 2010Q1-2019Q4. The Credit Crunch of 2007 had its origin in US real estate market, but rapidly it is expanded worldwide because of banking system interconnection across countries. A crucial characteristic of the aforementioned crises was the defaults on subprime mortgages because of the lax lending practices and because the period covered by the low starter interest rate ended. Therefore, we carry out research on US NPLs considering a very important banking system for the global economy taking into account the pressure on south part pf Eurozone because of the Credit Crunch of 2007 as well as for the robustness of many European banks because of the interconnection of banks across counties. What we found, using the GMM as econometric methodology, is that both current credit cycle of large lending and current business cycle can influence negatively the US NPLs due to the self-discipline role of large lending and the adverse macroeconomic conditions respectively. In addition, we found that the credit cycle of large lending it can be associated positively with US NPLs with one period lag supporting the excess credit influence on NPLs. Moreover, we noticed that the US NPLs have not a symmetric sensitivity between both business cycle and credit cycle of large lending. Finally, the empirical result of our research can help policy makers as well as bankers to their effort to develop a more stable banking system when they design policies to deal effectively with NPLs
The impact of banks’ liability management on large lending volume. Empirical Evidence from US Banks
No full textBanks provide credit to large firms either to finance large firms’ investment projects with positive net present values or to lend out SMEs indirectly through the expansion of trade credit by large firms which have Access to bank credit. The aim of the current article is twofold: to provide empirical evidence that time deposits affect the supply of large lending and to study whether the large lending volume differs according to banks’ characteristics. We employ a Heckman’s sample selection model to take into account the latent (unobserved) mechanism that banks use to decide whether to lend out large firms either to finance their goals or to provide trade credit to SMEs. We create a panel of US banks acquired from Statistics on Depository Institutions (SDI) report made by Federal Deposit Insurance Corporation (FDIC) covering the period from 2012 to 2021. The results of this study offer us empirical evidence of positive relationship between large lending volume and time deposits, which means that the availability of long time-term liabilities increases large lending as this flexibility of banks’ liability management implies that banks can aggressively expand their assets obtaining funds (by issuing time deposits) as they were needed
Stock markets and industrial production in north and south of Euro-zone: Asymmetric effects via threshold cointegration approach
No full text© 2015 PublishedbyElsevierB.V. In this paper, we investigate the relationship between stock prices and industrial production both for South and North of Euro-zone during the period 2004-2013. In contrast to previous studies we identify additional price interaction and dynamics investigating asymmetric adjustment behavior combined with long-run relationship using the Threshold cointegration approach. This method is proper as well because takes into consideration the type of shocks which appears in period 2004-2013. The results demonstrate symmetric adjustment process for the North and asymmetric for the South when stock prices and industrial production adjust to achieve the long-run equilibrium. The main cause of asymmetry is the difference in structural competitiveness which is weakest in South with respect to North. This finding is particularly important because provides the direction of economic policy that should adopt the governments of South of Euro-zone
The impact of banks’ liability management on large lending volume. Empirical Evidence from US Banks
No full textBanks provide credit to large firms either to finance large firms’ investment projects with positive net present values or to lend out SMEs indirectly through the expansion of trade credit by large firms which have Access to bank credit. The aim of the current article is twofold: to provide empirical evidence that time deposits affect the supply of large lending and to study whether the large lending volume differs according to banks’ characteristics. We employ a Heckman’s sample selection model to take into account the latent (unobserved) mechanism that banks use to decide whether to lend out large firms either to finance their goals or to provide trade credit to SMEs. We create a panel of US banks acquired from Statistics on Depository Institutions (SDI) report made by Federal Deposit Insurance Corporation (FDIC) covering the period from 2012 to 2021. The results of this study offer us empirical evidence of positive relationship between large lending volume and time deposits, which means that the availability of long time-term liabilities increases large lending as this flexibility of banks’ liability management implies that banks can aggressively expand their assets obtaining funds (by issuing time deposits) as they were needed
Average treatment effect estimators – inefficiency – minimisation of variance
No full textIn this paper, we show the inability of a recent average treatment effect estimator (ATE) to catch up the asymptotic semiparametric efficiency bound of Hahn (1998) although it minimises the mean squared error. Additionally, we propose the use of a minimum variance unbiased uniformly estimator of the propensity score in order to minimise the loss of efficiency.average treatment effect; ATE estimator; propensity score; minimum variance unbiased uniformly estimator; efficiency loss.
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