Current Issue : April - June Volume : 2015 Issue Number : 2 Articles : 6 Articles
This paper revisits the association between exchange rates andmonetary fundamentals with the focus on both linear and nonlinear\napproaches.With the monthly data of Euro/US dollar and Japanese yen/US dollar, our linear analysis demonstrates the monetary\nmodel is a long-run description of exchange rate movements, and our nonlinear modelling suggests the error correction model\ndescribes the short-run adjustment of deviations of exchange rates, and monetary fundamentals are capable of explaining exchange\nrate dynamics under an unrestricted framework....
The study quantitatively investigated the factors influencing the support for a mandatory\ntransition to the International Financial Reporting Standard (IFRS) by grouping survey data\nas critical driving factors (benefits) and critical inhibiting factors (obstacles). A strong\ncorrelation was found between the level of support, and the benefits, suggesting that the\nsupport for IFRS depends on awareness and perceptions about key benefits- ease of financial\nreporting, transparency, and costs reduction compared to GAAP. Two key obstacles found\nare the cost and the complexity of transition. Awareness and perceptions about IFRS differ\nsignificantly according to scope of business operation. National only companies (NOCs) are\nnot enthusiastic about the advantages of IFRS compared to National and International\nCompanies (NAICs). This study concludes that the advantages of IFRS surpass the\ndisadvantages signifying a greater support. It shows there is a greater possibility for a U.S.\nmandatory transition to IFRS comes 2015. Further studies are recommended on the\neffectiveness of the IFRS Adoption Prediction Model (IAPM) that resulted from this study....
Data envelopment analysis (DEA) is known as a useful tool\nthat produces many efficient decision-making units\n(DMUs). Traditional DEA provides relative efficient scores\nand reference sets, but does not influence and rank the\nefficient DMUs. This paper suggests a method that provides\ninfluence and ranking information by using PageRank\nas a centrality of Social Network analysis (SNA)\nbased on reference sets and their lambda values. The social\nnetwork structure expresses the DMU as a node, reference\nsets as link, and lambda as connection strengths or weights.\nThis paper, with PageRank, compares the Eigenvector\ncentrality suggested by Liu, et al. in 2009, and shows that\nPageRank centrality is more accurate....
This paper aims to describe and analyse possible impacts\non selling online by enterprises as the main variable under\nconsideration in the study, in selected European countries\nusing five selected independent variables that represent the\ninformation and communication technology (ICT) and the\neconomic development level. Data for 31 European\ncountries were analysed. The paper presents recent trends\nin European enterprises in using online selling as one of\nmany Internet services. Three groups of countries according\nto the share of enterprises selling online were recognized.\nThe complete picture about the achieved economic\nand ICT development level in the countries was obtained\nby conducted clustering where all six variables were\nincluded in the analysis. The main research hypothesis was\nthat economic and ICT developments have a significant\nimpact on the share of enterprises that sell online. The\nconducted factor analysis sorted five observed independent\nvariables into two groups. The multiple linear regression\nanalysis based on the factors showed that both groups\nhave a statistically significant impact on the share of\nenterprises that sell online. This means that these two\nfactors together have a crucial role in determining the ICT\ndevelopment level in European enterprises...
This paper evaluates the current state of the literature concerning the effects of exchange rate movements on trade balance.Thus,\nthis paper is a review article and provides a survey of the alternative theories that focus on the effect of exchange rate changes\non the trade balance. It systemizes the literature into four distinct reviews and approaches following the chronological order.The\npaper presents the (a) Standard Theory of International Trade, (b) Elasticity Approach, (c) Keynesian Absorption Approach, and\n(d)Monetary Approach. The study shows that higher attention should be given for the most plausible dynamic theory in this field,\nknown as the J-Curve...
This study aims to determine the long-run impact of physical and human capital on GDP by using the panel data set of 13\ndeveloped and 11 developing countries over the period 1970ââ?¬â??2010. Gross fixed capital formation is used as physical capital indicator\nwhile education expenditures and life expectancy at birth are used as human capital indicators. Panel DOLS and FMOLS panel\ncointegrated regression models are exploited to detect the magnitude and sign of the cointegration relationship and compare\nthe effect of these physical and human capital variables according to these two different country groups. As a consequence of\npanels DOLS and FMOLS models, the impact of physical capital and education expenditures on GDP in the developed countries\nis determined as higher than the impact in the developing countries. On the other hand, the impact of life expectancy at birth on\nGDP is determined as higher in the developing countries....
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