Economics Commons^™

Ceo's Pay Differentials And The Location Of Ipos : An Empirical Study For Chinese A-Share And H-Share Companies, Yi Liu

Lingnan Theses

This thesis provides an empirical investigation on how different public listing locations affect the CEO (chief executive officer)’s pay of Chinese SOEs (State Owned Enterprises) and whether such a pay differential would in turn affect the listing location choice by those firms, which have not received much attention in the current literature. In particular, we focus on two stock markets, the mainland (including Shenzhen and Shanghai) A-share market and Hong Kong H-share market. Unlike what have been found in many other markets, where firms listed in the foreign markets can normally enjoy a price premium, Chinese firms listed in the …

Housing Prices And Consumption : The Case Of China, Yonglin Wang

Lingnan Theses

The rapid soaring housing prices in Chinese residential property market have attracted increasing worldwide attention in recent years. Facing the rising concerns about both the stability and sustainability of Chinese housing market prices dynamics, this study aims at investigating the impacts of changes in housing wealth on consumption in China.

Previous studies on this subject usually use country level data with relatively shorter sample period, or individual time series for a single or a few cities. Recent development in literatures suggests that panel data have the more heightened capacity for modeling the complexity of human behavior than a single cross-section …

Rmb Exchange Rate Reform And Cross Listed Stock Price Disparity, Yuqian Rong

Lingnan Theses

A growing number of Chinese corporations have been listing their shares on foreign stock markets. Hong Kong Stock Exchange (HKEX) and New York Stock Exchange (NYSE) are their major targets. Taking China’s exchange rate system reform as a unique event, I examine the price disparity between A-share and H-share (or ADR) using a sample of 28 Chinese companies listed in Shenzhen, Shanghai, Hong Kong, and New York. I conduct a panel-data investigation to examine the price disparity before and after the transition from the pegged to the managed floating exchange rate.

I have obtained several important findings in this study. …

The Driving Forces Behind The Recent Housing Market Development In Hong Kong : Fundamentals? Bubbles? Policy?, Ki Chiu Lo

Lingnan Theses

By examining the driving forces behind the recent housing market development in Hong Kong, this thesis offers an explanation for the effects of the ―Capital Investment Entrant Scheme‖ and the movements in the exchange rate between HKD and RMB on the housing prices of the overall market and two sub-markets. Induced by record-low mortgage rates and decreasing amount of new dwelling units completion, housing prices in Hong Kong surged to a record high level recently. To test the equilibrium price of housing, cointegration tests will be used to identify whether there is overvaluation in recent property market. At the end …

Analysis Of Singapore's Foreign Exchange Market Microstructure, Chee Wai Wan

Dissertations and Theses Collection (Open Access)

This paper analyses the Singapore foreign exchange market from a microstructure approach. Specifically, by applying and modifying the empirical methodology designed by Bollerslev and Melvin (1994), we examine the relationship between bid-ask spreads and the underlying volatility of the USD/SGD. Our data set comprises high-frequency USD/SGD tick data of three separate years (April-June 1989, April-May 2006, April-May 2009). We found that for the USD/SGD: i) the size of bid-ask spreads are positively related to the underlying exchange rate volatility; ii) the magnitude of the dependence on underlying volatility increases as tick volume increases; and iii) the size of the bid-ask …

Double-Edged Transparency In Teams, Parimal Bag, Nona Pepito

Research Collection School Of Economics

In a team project with significant complementarities between various players' individual tasks, news of early success by some encourages others to push ahead with their own tasks while lack of success has the opposite effect. This ex-post disparity in incentives created gives rise to two differing implications, ex ante, for an ideal team transparency. Sometimes it is better to commit to complete secrecy within the team of the various participants' interim progress as it mitigates the negative effect of failures. In some other situations, commitment to full disclosure is better as players are then encouraged to be proactive by exerting …

Kontribusi Kesalehan Ritual Dan Kondisi Sosial Ekonomi Keluarga Terhadap Perilaku Merusak Ekosistem Terumbu Karang, Mansur Afifi

Jurnal Ekonomi dan Pembangunan Indonesia

Destructive behavior to coral reef ecosystem should not exist if community realize the importance value of theexistence of coral reefs, have adequate source for livelihood and an obedience to God Almighty. The purpose of this study is to analyze the influence of religious ritual performing (religiousness),socialand economic conditions of society ondestructive manner of community tocoral reefs. The data collected are analyzed quantitatively using structural equation model (SEM) using the method of Partial Least Square (PLS). The result findings show that the destructive behavior of the community to coral reef is not influenced by the piety of the people in performing …

Tinjuan Historis: Konformitas Pasar Tradisional Versus Konsep Global Pembangunan Dunia, Sayfa Auliya Achidsti

Jurnal Ekonomi dan Pembangunan Indonesia

The world has experienced many developments of each economic model. The interesting thing is that, the world wide economic development tend to be a linear development. If we seeon the past, e.g. several centuries ago, the economy in the world is all on the pure form of trading. Every area, with its own communities, has different natural resources and their own made-craft. Because of the difference in the community and natural resources each area has, it results on the commodity differentiation. It can not be denied that as the time goes by, human's needs will also develop not only in …

Reputasi, Kredibilitas Dan Relevansinya Dalam Pengambilan Kebijakan, Ari Kuncoro

Jurnal Ekonomi dan Pembangunan Indonesia

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The Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samarthe Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samar¹, Tereso S. Tullao Jr, John Paolo R. Rivera

DLSU Business & Economics Review

The Philippines committed itself to the United Nations’ Millennium Development Goals (MDG), one of which is the universal access to primary education by 2015. To address the goal, supply factors and demand factors must be considered. Supply factors refer to the ability of the government to provide resources to finance elementary education. Demand factors refer to the variables affecting household’s decision to demand educational services such as income, education cost, and demographic characteristics of the households: age structure and family characteristics. This study explored the extent to which household income and household head employment status influence elementary school participation rate …

Customer Satisfaction, Loyalty And Repurchase: Some Evidence From Apparel Consumers, Tamilla Curtis, Russell Abratt, Paul Dion, Dawna L. Rhoades

Management, Marketing and Operations - Daytona Beach

While customer satisfaction, loyalty and repurchase intent are some of the most researched areas in marketing and consumer behavior, there is little certainty on the direction and strength of these relationships. After completing a literature review, this study develops a model of loyalty dimensions, satisfaction and repurchase intent. A sample of 499 respondents who had purchased jeans was interviewed in the Southeastern United States. Results were analyzed using Structural Equation Modeling. The results of nine hypothesized relationships are discussed. A significant positive relationship exists between commitment and repurchase/repurchase intent. Some surprising findings also emerged as the model was modified. It …

Do Landlords Discriminate In The Rental Housing Market? Evidence From An Internent Field Experiment In U.S. Cities, Andrew R. Hanson, Zackary Hawley

Economics Faculty Research and Publications

This paper tests for racial discrimination in the rental housing market using matched-pair audits conducted via e-mail for rental units advertised on-line. We reveal home-seekers’ race to landlords by sending e-mails from names with a high likelihood of association with either whites or African Americans. Generally, discrimination occurs against African American names; however, when the content of the e-mail messages insinuates home-seekers with high social class, discrimination is non-existent. Racial discrimination is more severe in neighborhoods that are near “tipping points” in racial composition, and for units that are part of a larger building.

The Effect Of Location Based Tax Incentives On Establishment Location And Employment Across Industry Sectors, Andrew R. Hanson, Shawn Rohlin

Economics Faculty Research and Publications

This article examines the potential for location-based employment tax incentives to have a differential effect on establishment location and employment across industry sectors. The authors model the differential effect of the location-based federal Empowerment Zone (EZ) wage tax credit on equilibrium labor and total cost savings across industry sectors. The model guides the empirical work, as the authors test the effect of the program across industry sectors. The empirical analysis shows that location-based tax incentives have a positive effect on firm location in some of the industries their model predicts and a negative effect in industries that could be crowded …

Leisure And Happiness In The U.S.: Evidence From Survey Data, Miao Wang, M. C. Sunny Wong

Economics Faculty Research and Publications

We study the relationship between leisure and happiness, controlling for income and other determinants. Using survey data for the United States in 2007, our results show that certain aspects of leisure, such as leisure activity satisfaction, have a significant impact on individual well-being whereas the amount of leisure time may not play an important role in affecting happiness.

Environmental Influences On Young Adult Weight Gain: Evidence From A Natural Experiment, Kandice A. Kapinos, Olga Yakusheva

Economics Faculty Research and Publications

Objectives: This study investigated the importance of environmental influences in explaining weight gain and related behaviors among freshman college students.

Methods: We exploited a natural experiment that takes place on most college campuses in the United States - randomized dormitory assignments. We estimated the effects of living in dormitories with varying physical environment characteristics on weight gain and related behaviors (daily number of meals and snacks, weekly frequency of exercise) among randomly assigned freshman students.

Results: We found strong evidence linking weight and related behaviors to individual dormitories, as well as to specific characteristics of the dormitories. On average, students …

Fdi And Human Capital In The Usa: Is Fdi In Different Industries Created Equal?, Miao Wang

Economics Faculty Research and Publications

We use data in the USA to study the effect of inward Foreign Direct Investment (FDI) in different sectors/industries on the state-level human capital, measured by the average years of tertiary schooling. We find that inward manufacturing FDI tends to lower the tertiary schooling in a host state while information FDI increases the tertiary schooling in a host state.

Markets And Morality, Jagdish N. Bhagwati

Faculty Scholarship

The paper addresses two issues. First, economics has evolved both as a positive science and, from moral philosophy, also as a normative discipline. Advancing the public good requires that public policy walk on both these legs. Second, the criticism has been forcefully made that markets undermine morality. This contention is refuted in several ways.

Education And Economy: The Impact Of Investment In Human Capital Through Education On Unemployment, Zafer Pirim

Educational Leadership & Workforce Development Theses & Dissertations

The impact of investment in human capital on economy has always been discussed in the literature. Existing studies in the literature generally focus on short term impacts of investment in human capital. While some studies see significant impact, some other ones see little or no impact. This study manipulated data that was cover a long span of time, a 25-year period. In this study the researcher inquired whether there is a significant correlation between education and economy in terms of the impacts of investment in human capital on unemployment over a long span of time. In this empirical study panel …

The Economics Of Discrimination In The Court System: Police, Technology, And Their Interaction, Sarah Marx Quintanar

LSU Doctoral Dissertations

This dissertation consists of three essays which utilize automated traffic enforcement data to investigate the existence of police discrimination in issuing speeding tickets and potential crime reduction as a secondary effect of using such programs. In the first chapter, I use tickets issued by automated traffic enforcement cameras as a measure of the population of speeders to compare with police-issued tickets. The novel dataset has an advantage over previous literature because data collection was not a result of suspected police bias. I find that a ticketed individual is more likely to be African-American and more likely to be female when …

Monetary Policy Shocks: Analyzing The Quasi-Narrative Approach, Daniel Matthew Groft

LSU Doctoral Dissertations

This dissertation empirically identifies exogenous changes in monetary policy and estimates their effects on the economy. The framework is the Romer and Romer (2004) quasi-narrative approach to identifying exogenous changes in monetary policy. The first essay replicates the Romer-Romer (RR) “quasi-narrative” measure of shocks and updates them with Greenbook forecasts to 2003. A key result is the quasi-narrative approach is robust to updates and corrections for serial correlation. An alternative, independently formed measure of the intended funds rate from Thornton (2005) is compared to the RR measure. The measures are highly correlated and display slight differences concerning the timing of …

Essays On The Random Parameters Logit Model, Tong Zeng

LSU Doctoral Dissertations

This research uses quasi-Monte Carlo sampling experiments to examine the properties of pretest and positive-part Stein-like estimators in the random parameters logit (RPL) model based on the Lagrange Multiplier (LM), likelihood ratio (LR) and Wald tests. First, we explore the properties of quasi-random numbers, which are generated by the Halton sequence, in estimating the random parameters logit model. We show that increases in the number of Halton draws influence the efficiency of the RPL model estimators only slightly. The maximum simulated likelihood estimator is consistent and it is not necessary to increase the number of Halton draws when the sample …

Recent Debates On Ltv, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• The incoherence of the TSSI: a reply to Kliman and Freeman, written by Simon Mohun and Roberto Veneziani, published in Capital & Class, volume 30, number 2, issue 92, in the year 2006, pages 139–145, by the Conference of Socialist Economists.
• Recent debates on LTV: new interpretation, TSS, critiques, a manuscript file folder label inscribed with the identification code NA-23-52, prepared by Anwar Shaikh, PhD, on June 5, 2026.
• A temporal single-system interpretation of Marx’s value theory, written by Andrew J. Kliman and Ted McGlone, published in the Review of Political Economy, …

Ltv- Trento (2), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Notwhun (?) program for Iceland LIBOR [Unpublished handwritten notes].

• Shaikh, A. (1992, April 17). AMS_72.MCD: Calculating direct prices and Marxian standard prices of production [Unpublished MathCad worksheet].

• Shaikh, A. (n.d.). Comparisons of prices and values [Unpublished handwritten notes].

• Shaikh, A. (n.d., December 3). Dastance: Criteria for comparing prices and values [Unpublished handwritten notes].

• Shaikh, A. (n.d.). Schurarty test, Ricardo, and MathCad [Unpublished handwritten notes].

• Shaikh, A. (2012, July 8). MathCad program variables Ochoa Data for 71-industry tables [Unpublished manuscript].

• Shaikh, A. (2012, July 7). LTVCalc1972stdFixed.xmcd: Standard market and Sraffian prices of production for a …

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Relative Pricing Of Publicly Traded U.S. Electric Utility Companies, Nicholas Stephen Jewczyn

Walden Dissertations and Doctoral Studies

In the financial turmoil of 2008, U.S. firms reported debt-ratios that differed from the debt-ratios calculated from balance sheets. The problem is that investors bought common stock expecting initial investment return and lost money when companies delisted. The purpose of this quantitative study was to determine sample securities pricing with the application of synthetic assets and debt accrued. Addressed in the research questions was whether those securities were (a) underpriced compared with return-on-assets (ROA), (b) overpriced compared with ROA, (c) a debt-ratio higher than 60% and also overpriced, (d) underpriced with a synthetic asset added, or (e) related by relative …

(Wp 2011-01) Kenneth Boulding As A Moral Scientist, John B. Davis

Economics Working Papers

Kenneth Boulding’s AEA presidential address argued that economics is a moral science. His view derived from his general systems theory thinking, his three systems view of human society, and his early contributions to evolutionary economics. Boulding’s argument that economics could not be value-free should be distinguished from other well-known views of economics as a moral science, such as Gunnar Myrdal’s. This paper discusses the development and nature of Boulding’s thinking about economics as a moral science in the larger context of his thinking.

(Wp 2011-02) The Change In Sraffa's Philosophical Thinking, John B. Davis

Economics Working Papers

The availability of Piero Sraffa’s unpublished manuscripts and correspondence at Trinity College Library, Cambridge, has made it possible to begin to set out a more complete account of Sraffa’s philosophical thinking than previously could be done with only his published materials and the few comments and suggestions made by others about his ideas, especially in connection with their possible impact on Ludwig Wittgenstein’s later thinking. This makes a direct rather than indirect examination of Sraffa’s philosophical thinking possible, and also shifts the focus from his relationship to Wittgenstein to his own thinking per se. I suggest that the previous focus, …

What Influences The Changes In Reit Ceo Compensation? Evidence From Panel Data, John M. Griffith, Mohammad Najand, H. Shelton Weeks

Finance Faculty Publications

This study examines what influences the changes in REIT CEO compensation using the following performance measures: average three-year total returns to shareholders, market value added, Tobin's q, and change in funds from operations. The impact of managerial power on the change in compensation is also examined. The empirical evidence indicates that firm performance and size do not influence the change in CEO salary, while risk, tenure, title, ownership, and age have significant impacts. Bonuses are not influenced by risk, size, or CEO power; however, they are influenced by performance. Option awards are affected by performance and CEO power.

Smoking, Drinking, And Binge Drinking: An Empirical Study Of The Role Of Price On Consumption By High School Seniors, Jorge L. Medina

Dissertations, Theses, and Capstone Projects

In this study, I estimate time-series demand functions using Ordinary Least Squares in order to examine the effects of real cigarette and alcohol prices on their respective consumption. My targeted population is high school seniors in the United States. The data I use come from Monitoring the Future, The Tax Burden on Tobacco, and the Bureau of Labor Statistics. Using the Ordinary Least Squares real price coefficients, I evaluate how much of the observed change in consumption is explained by the observed change in real price during a particular period of time between 1976 and 2008. Then, I repeat the …

Vmi, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• VMI (file folder). Anwar Shaikh, PhD and Amr Ragab, manuscript in progress, 2011.
• AMR (handwritten notes). Anwar Shaikh, PhD, July 27, 2011.
• New VMI Talk (file folder). Anwar Shaikh, PhD, July 08, 2011.
• Structure of VMI Paper (manuscript outline). Anwar Shaikh, PhD and Amr Ragab, February 10, 2011.
• Inequality Notes (handwritten notes). Anwar Shaikh, PhD, January 29, 2007, revised February 11, 2011.
• Growth, inequality and welfare measures. Carola Gruen and Stephan Klasen, International Income Inequality, 2008, Palgrave Macmillan.
• An International Comparison of the Incomes of the Vast Majority (unpublished manuscript). Anwar Shaikh, PhD and Amr Ragab, …

Pakistan’S Economy Post-Flood, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan had been suffering from three serious external shocks before the recent devastation to human lives, property, infrastructure and social services by the floods struck the country in August-September 2010. Pakistan was engaged in fighting the militants and terrorists since the U.S. initiated the war in Afghanistan in 2001. Forty three billion dollars of losses have been incurred so far in the fight against terror and the country has been virtually shut out as a destination for investment, capital flows, tourism and trade. Thirty thousand civilians and six thousand Army, Para-military and Police officials have lost their lives. The Second …