Small Area Estimates Of Poverty In Region Iii,
2022
Virginia Polytechnic Institute and State University
Small Area Estimates Of Poverty In Region Iii, Caesar B. Cororaton, Arlene B. Inocencio, Alellie B. Sobreviñas, Emmanuel Dc. Barnedo
DLSU Business & Economics Review
Official estimates of the Philippine Statistical Authority (PSA) poverty incidence prior to 2018 are reliable up to the regional level as these are consistent with the sampling domain of the data used for estimation. Below this level, the PSA poverty estimates are unreliable because of very large sampling errors. The high level of unreliability makes the estimates less useful for poverty policy targeting. This paper addresses this concern by combining the Family Income and Expenditure Survey (FIES) and the Census of Population and Housing (CPH) data and using an increasingly accepted technique for small area estimation (SAE). We estimate the …
The Mediating Effects Of Perceived Value Between The Relationship Of Social Media Marketing And Purchase Intention,
2022
Holy Angel University
The Mediating Effects Of Perceived Value Between The Relationship Of Social Media Marketing And Purchase Intention, Tyron W. Yap
DLSU Business & Economics Review
The objective of this study is to test the mediating role of the dimensions of perceived value—conditional, epistemic, monetary, social, convenience, and emotional—between the relationship of social media marketing and purchase intention, in online hotel booking sites. Partial least square structural equation modeling (PLS-SEM) was employed to test all 19 hypotheses. Results revealed that social media marketing positively and significantly influences the dimensions of perceived value, as well as purchase intention. Also, convenience value and conditional value are positively and significantly related to purchase intention. In terms of the mediating effects, it was found that both convenience value and conditional …
Are Emotionally Stable Employees More Ready To Change? The Moderating Role Of Emotional Stability On The Effect Of Organizational Culture Types On Individual Readiness For Change,
2022
National Chengchi University, Taiwan, Universitas Diponegoro, Indonesia
Are Emotionally Stable Employees More Ready To Change? The Moderating Role Of Emotional Stability On The Effect Of Organizational Culture Types On Individual Readiness For Change, Aktsar Hamdi Tsalits, Gugup Kismono, Luksi Visita, Dian Eka Mayasari
DLSU Business & Economics Review
Organizational culture is suggested as a significant predictor of individual readiness for change (IRFC). However, few studies examining the effect of organizational culture types on individual readiness for change showed inconsistent results. This study aims to fill the gap, specifically by testing the moderating effect of emotional stability on the effect of perceived organizational culture types (clan and adhocracy) on individual readiness for change. We obtained 264 responses from employees who worked at the SM Company, one of the companies in Indonesia that performed a change in the company. Results of moderated regression analysis on the collected data indicate support …
Impact Of Cooperative Membership On Technical Efficiency And Marketing Efficiency: The Case Of Dairy Buffalo Farmers In The Philippines,
2022
University of the Philippines Los Banos
Impact Of Cooperative Membership On Technical Efficiency And Marketing Efficiency: The Case Of Dairy Buffalo Farmers In The Philippines, Ceptryl S. Mina, Agham C. Cuevas
DLSU Business & Economics Review
Collective action by smallholder farmers through cooperative membership is regarded as one of the approaches to overcome production and marketing inefficiencies. This study investigates the impact of cooperative membership on the technical efficiency (TE) and marketing efficiency (ME) of dairy buffalo farmers in the Philippines. A total of 351 (249 cooperative members and 102 non-cooperative members) randomly selected farmers from Regions II, III, IV-A, and VII were interviewed. Using cross-sectional farm household data of dairy buffalo farmers, technical and marketing efficiencies were estimated. Linear regression with endogenous treatment was performed to determine the impact of cooperative membership on the TE …
Impact Investing Via Affiliation With Academia, Ngos, Or Other Collaborations?,
2022
Singapore Management University
Impact Investing Via Affiliation With Academia, Ngos, Or Other Collaborations?, Theodor Florian Cojoianu, Andreas G. F. Hoepnner, Yanan. Lin, Fabiola Schneider
Research Collection College of Integrative Studies
While ESG investing has become mainstream, impact investment has yet to be institutionalised and legitimized. We investigate how impact investment firms claim legitimacy compared to their ESG peers. Impact investment is still a nascent field and suffers from a heavier burden of proof. Legitimacy has been recognised as a strategy to overcome the liability of newness. Combining private market data with statements made by investment firms on their websites we investigate how they claim legitimacy. We find that impact investment firms are more likely to claim to be involved in partnerships, specifically with academia and corporations than their ESG peers. …
A Comparison Of Ncreif, Inrev, And Anrev Open-End Core Fund Indices,
2022
Brigham Young University - Provo
A Comparison Of Ncreif, Inrev, And Anrev Open-End Core Fund Indices, Barrett A. Slade, Jeffrey D. Fisher, Joe D’Alessandro
Faculty Publications
Cross-border investment in non-listed real estate is on the rise. This article aims to compare the U.S. NFI-ODCE index with the European INREV ODCE index and the recently released Asian ANREV ODCE index with the hope that this study will be helpful to cross-border investors in these major markets. From 2016 through 2020 (five years), we found that the NCREIF fund count remained relatively flat, but the INREV and ANREV fund count increase steadily. At the end of 2020, NCREIF’s GAV was 270 billion dollars compared with INREVs 39 billion dollars and ANREV’s 16 billion dollars, a considerable size difference …
Determinants Of Capital Structure: An Expanded Assessment,
2022
Texas A&M University
Determinants Of Capital Structure: An Expanded Assessment, Toshinori Fukui, Todd Mitton, Robert Schonlau
Faculty Publications
Using a standardized methodology, we empirically evaluate 55 proposed determinants of capital structure in terms of statistical significance, economic significance, and identification. We find that robust and economically important determinants of debt ratios are relatively few in number. Nevertheless, because each determinant relates to one of five market imperfections—taxes, distress costs, information asymmetry, agency costs, or supply frictions—we draw conclusions from the evidence as a whole regarding the explanatory power of different capital structure theories. We find greater support for pecking order theory and supply-related theories, with less support for traditional tradeoff theory and agency theory.
Flow-Performance Relationship In Defi Yield Aggregator,
2022
Faculty of Commerce and Accountancy
Flow-Performance Relationship In Defi Yield Aggregator, Apisara Pornprasith
Chulalongkorn University Theses and Dissertations (Chula ETD)
Decentralized Finance (DeFi) is a new financial infrastructure with applications similar to traditional financial products, such as exchange, lending, derivatives, and asset management. This paper empirically investigates Yearn finance, one of the fastest-growing and largest in DeFi yield aggregator protocols for on-chain asset management, to demonstrate the flow-performance relationship and compare it with mutual funds in traditional finance. According to the findings, there is a positive non-linear relationship between fund flows and recent performance for using stablecoin deposited. In contrast, we cannot find this relationship for using cryptocurrency. Then, we look further into stablecoin holder behaviour and our findings show …
Investor’S Sentiment And Stock Return: An Empirical Study On The Thai Stock Market,
2022
Faculty of Commerce and Accountancy
Investor’S Sentiment And Stock Return: An Empirical Study On The Thai Stock Market, Chang Chen
Chulalongkorn University Theses and Dissertations (Chula ETD)
The effect of investor sentiment on stock returns is one of the most recent developments in finance. The empirical literature includes developed stock markets. However, emerging markets, notably the Thai stock market, lack study subjects. The purpose is to deeply comprehend the link between investor sentiment and Thai stock market return. The aims include customizing investor sentiment indices to explain the Thai stock market index's movement, estimating investor sentiment's predictive ability, providing stock investors with referable trading strategies, and providing suggestions for cross-section equity selection. This study initially employs Principal Component Analysis (PCA) to customize the composite indices, called the …
The Analysis Of Enhanced Momentum Strategies In The Stock Exchange Of Thailand,
2022
Faculty of Commerce and Accountancy
The Analysis Of Enhanced Momentum Strategies In The Stock Exchange Of Thailand, Chayakon Kamolsawat
Chulalongkorn University Theses and Dissertations (Chula ETD)
The purpose of this study is to investigate the effectiveness of momentum strategies in investment portfolios, a well-known anomaly in the efficient market hypothesis, by portfolio are constructed by long winners and short losers. Specifically, the study focuses on the use of volatility to enhance momentum strategies in the Stock Exchange of Thailand from January 2013 to December 2022. The enhanced momentum strategies under investigation vary the portfolio weight with volatility and can be classified into constant volatility-scaled, constant semi-volatility-scaled, and dynamic-scaled approaches. The research aims to achieve two main objectives. Firstly, to analyze the potential of the enhanced momentum …
Effect Of Joining Paris Agreement To Green Bond Premium In Us Market,
2022
Faculty of Commerce and Accountancy
Effect Of Joining Paris Agreement To Green Bond Premium In Us Market, Onjira Sukijjakamin
Chulalongkorn University Theses and Dissertations (Chula ETD)
The paper investigates whether green bonds are priced at a premium compared to conventional bonds by analyzing the yield spread between green bonds and comparable conventional bonds (where a negative yield spread indicates a premium). The study also examines the factors influencing the yield difference including the effect of participating in Paris Agreement to the green bond premium. Initially, the paper expected to find a negative green bond premium, indicating that green bonds have lower yields than comparable conventional bonds, as investors are willing to accept lower yields for the ESG benefits associated with green projects. However, the paper obtained …
Global Oil Price Transmission To Domestic Diesel Prices, Andthe Impact On Listed Firm's Profitability And Stock Market Returns : Evidence From Thailand,
2022
Faculty of Commerce and Accountancy
Global Oil Price Transmission To Domestic Diesel Prices, Andthe Impact On Listed Firm's Profitability And Stock Market Returns : Evidence From Thailand, Koravik Renuros
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research paper provides a comprehensive analysis of the dynamics of volatile oil prices over the past two decades, with a focus on the stock exchange of Thailand from the period of 2004 to 2022. Firstly, the study utilizes the Vector Autoregressive Model (VAR) technique to examine the impact of global oil price fluctuations on domestic fuel prices and the stock market in Thailand. The findings reveal that changes in global oil prices have a delayed and indirect effect on the Thai stock market. The transmission of volatility through domestic diesel prices is a crucial factor in this relationship. Notably, …
Post-Earnings Announcement Drift In Thai Reits - A Take From The Recent Pandemic,
2022
Faculty of Commerce and Accountancy
Post-Earnings Announcement Drift In Thai Reits - A Take From The Recent Pandemic, Chawan Ratapana
Chulalongkorn University Theses and Dissertations (Chula ETD)
The research explores the information content of earnings announcements in REITs operating in a market with less stable rental incomes. By examining the presence of Post-Earnings-Announcement Drift (PEAD) in Thai REITs, this study contributes to existing literature and investigates changes in market efficiency for REITs during the COVID-19 pandemic. Using the Earnings Announcement Returns (EAR) method, the study analyzes abnormal returns through visual analysis and a trust/firm-level regression framework. Findings indicate a PEAD effect as the baseline for abnormal returns in the local market, suggesting potential market inefficiencies. However, most variables in regression analysis do not significantly address the research …
A Pair Trading Using Reinforcement Learning And Wavelet Decomposition,
2022
Faculty of commerce and accountancy
A Pair Trading Using Reinforcement Learning And Wavelet Decomposition, Panudate Nithinon
Chulalongkorn University Theses and Dissertations (Chula ETD)
In this study, we propose a trading optimization methodology for the pair trading strategy. The Johansen cointegration test and the correlation measure are used for pair selection. We apply Deep-Q-network (DQN) technique in which the trainable reinforcement learning agent is designed to directly control the trading positions. The maximum overlap discrete wavelet transformation (MODWT) algorithm is used for generating the trading signal from the spread time series. Wavelet signal preprocessing is used to extract the original time series into cyclic time series components and long-term behavior components. Based on the in-sample performance this trading model successfully solves a profit maximizing …
Can Gambling Increase Savings? Empirical Evidence On Prize- Linked Savings Accounts,
2022
Harvard University
Can Gambling Increase Savings? Empirical Evidence On Prize- Linked Savings Accounts, Shawn Cole, Benjamin Iverson, Peter Tufano
Faculty Publications
This paper studies the adoption and impact of prize-linked savings (PLS) accounts, which offer lottery-like payouts to individual account holders in lieu of interest. Using microlevel data from a bank in South Africa, we show that PLS is attractive to a broad group of individuals, with financially constrained individuals and those with no other deposit accounts particularly likely to participate. Individuals who choose to use PLS increase their total savings on average by 1% of annual income. Exploiting the random assignment of prizes,we present causal evidence that PLS substitutes for lottery gambling but is a complement to standard savings.
What Problem Do Intermediaries Solve? Evidence From Real Estate Markets,
2022
Brigham Young University - Provo
What Problem Do Intermediaries Solve? Evidence From Real Estate Markets, Darren Aiello, Mark Garmaise, Taylor Nadauld
Faculty Publications
We study intermediation in the housing market. Using data from an online platform used by real estate agents to generate leads, we identify exogenous intermediary attention arising from the quasi-randomized ordering of potential listings. Greater intermediary attention leads to an increased probability of listing with an agent and selling quickly, and a higher transaction price. The listing and transaction probabilities of neighboring properties decrease in intermediary attention. These results provide causal evidence supporting search theories of intermediation, contrast sharply with endogenous correlations, and indicate that agents in this market serve mainly to facilitate search rather than to reduce information asymmetries.
Application Of Fractional Exponential Feature To Garch Model Variants For Improvement In Value-At-Risk Prediction,
2022
Faculty of Commerce and Accountancy
Application Of Fractional Exponential Feature To Garch Model Variants For Improvement In Value-At-Risk Prediction, Chanet Saisatian
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research studies about using GARCH model variants as a parametric way in estimation and prediction of daily Value-at-Risk (VaR), one of famous risk measurement especially in financial world. To cope with various stylized facts on market’s volatility, two mixed GARCH models are proposed in this research: HY-GJR-GARCH model, the hybrid between hyperbolic GARCH (HYGARCH) and GJR-GARCH models, and HY-MS-GARCH model as the amalgam between HYGARCH and Markov switching GARCH (MSGARCH) models. These mixed models, along with rich mathematical formulations and benefits from their base models, are expected that their performance in predicting daily VaR is advanced against the performance …
Why Is The Third Principal Component Of The Yield Curve Important: A Point Of View From Reverse Stress Test On Credit Portfolio,
2022
Faculty of Commerce and Accountancy
Why Is The Third Principal Component Of The Yield Curve Important: A Point Of View From Reverse Stress Test On Credit Portfolio, Phanuwat Ritpornnarong
Chulalongkorn University Theses and Dissertations (Chula ETD)
The focus of this study is to analyze the shape of the yield curve on credit portfolios during crises, specifically those that are exposed to both interest rate and credit risks. To achieve this, We utilized a reverse stress test (RST) and macroeconomic measures (such as GDP and U.S risk-free yields) from the period of 1981 to 2014 to estimate mathematical models. We then utilized a Monte Carlo simulation to determine the most likely scenario for the measures if the portfolio value reaches a pre-specified threshold. The researchers discovered that the shape of the stressed yield curves varied depending on …
Strategies Business Leaders Use To Mitigate Online Credit Card Fraud,
2022
Walden University
Strategies Business Leaders Use To Mitigate Online Credit Card Fraud, Clarissa Rosario-Tavarez
Walden Dissertations and Doctoral Studies
Online credit card fraud targeting banks, customers, and businesses costs millions of U.S. dollars annually. Online business leaders face challenges securing and regulating the online payment processing environment. Grounded in the situational crime prevention theory, the purpose of this qualitative multiple case study was to explore strategies online business leaders use to mitigate the loss of revenue caused by online credit card fraud. The participants comprised five online business leaders of an organization in the Southwest of the United States, who implemented strategies that successfully mitigated revenue losses due to online credit card fraud. The data were collected from semistructured …
Strategies Small Businesses Use To Offer An Employer-Provided Tax-Advantaged Retirement Plan,
2022
Walden University
Strategies Small Businesses Use To Offer An Employer-Provided Tax-Advantaged Retirement Plan, Shawn R. Reinhart
Walden Dissertations and Doctoral Studies
AbstractImproving employee productivity has the potential to improve small business outcomes. Small business owners are concerned with employee productivity, as it is a substantial determinant of the success of a small business. Grounded in Herzberg’s two-factor motivation-hygiene theory, the purpose of this qualitative multiple case study was to explore strategies small business owners use to offer employer-provided tax-advantaged retirement plans to employees to increase productivity. Participants were six small business owners who successfully increased productivity by offering employer-provided tax-advantaged retirement plans. Data were collected using semistructured interviews and reviews of organization financial reports. Using Yin’s five-step analysis, three themes emerged: …
