Search results for: price to earnings growth

Authors: Kutub Uddin Chisty, Md. Kamrul Islam, Md. Ashraful Islam

Abstract:

Growth pattern is an important factor for a city because it can help to predict future growth trend and development of a city. Khagrachari District is one of the three hill tracts districts in Bangladesh. It is bordered by the Indian State of Tripura on the north, Rangamati and Chittagong districts on the south, Rangamati district on the east, Chittagong district and the Indian State of Tripura on the west. Khagrachari Pourashava is surrounded by hills and waterways. The Pourashava area is mostly inhibited by non-tribal population, while tribal population lives in hilly regions within and around the Pourashava area. The hilly area growth is different. Based on questioners and expert opinions survey, growth pattern of Khagrachari is evaluated. Different culture, history, tribal people, non-tribal people enrich the hilly heritages. In our study, we analyse the city growth pattern and identify the prominent factors that influence the city growth. Thus, it can help us to identify growth trend of the city.

Keywords: growth pattern, growth trend, prominent factors, regional development

Procedia PDF Downloads 341

Authors: Munezero Vanessa

Abstract:

A country is considered developed when its socio-economic and development situation is stable. Foreign direct investment is thus considered to be one of the solutions to this stability especially when it is used in development sectors. The present study was meant to understand whether the foreign direct investment stimulates economic growth performance in Rwanda. The foreign direct investments and economic growth (GDP) has been the subject of much debate among economic development researchers, aid donors as well as recipients in general and Rwanda in particular. In spite of this, there are only few empirical studies that investigate the contributions of foreign direct investments to economic growth in Rwanda. This study explores the relationship between foreign direct investments and economic growth in Rwanda using data that spans from 2000 to 2019 and establishing through causal study if changes in one variable cause changes in the other. The results show that foreign direct investments significantly contribute to the current level of economic growth. The findings imply that Rwanda could enhance its economic growth by effectively and strategically strengthening foreign direct investment plans.

Keywords: foreign direct investment (FDI), economic growth, GDP gross domestic product (GDP), inflation, exchange rate

Procedia PDF Downloads 31

Authors: Jorge M. Uribe

Abstract:

We propose a methodology for setting the price of an insurance contract targeted to manage the risk associated with weather conditions that affect variable renewable energy generation. The methodology relies on conditional quantile regressions to estimate the weather risk of a solar panel. It is illustrated using real daily radiation and weather data for three cities in Spain (Valencia, Barcelona and Madrid) from February 2/2004 to January 22/2019. We also adapt the concepts of value at risk and expected short fall from finance to this context, to provide a complete panorama of what we label as weather risk. The methodology is easy to implement and can be used by insurance companies to price a contract with the aforementioned characteristics when data about similar projects and accurate cash flow projections are lacking. Our methodology assigns a higher price to an insurance product with the stated characteristics in Madrid, compared to Valencia and Barcelona. This is consistent with Madrid showing the largest interquartile range of operational deficits and it is unrelated to the average value deficit, which illustrates the importance of our proposal.

Keywords: insurance, weather, vre, risk

Procedia PDF Downloads 148

Authors: Al-Saboonchi Azhar

Abstract:

The effects of Iraqi crude oil on growth of three freshwater algae (Chlorella vulgaris Beij., Scenedesmus acuminatus (Lag.) Chodat. and Oscillatoria princeps Vauch.) were investigated, basing on it's biomass expressed as Chl.a. Growth rate and doubling time of the cell were calculated. Results showed that growth rate and species survival varied with concentrations of crude oil and species type. Chlorella vulgaris and Scenedesmus acuminatus were more sensitive in culture containing crude oil as compared with Oscillatoria princeps cultures. The growth of green algae were significantly inhibited in culture containing (5 mg/l) crude oil, while the growth of Oscillatoria princeps reduced in culture containing (10 mg/l) crude oil.

Keywords: algae, crude oil, green algae, Cyanobacteria

Procedia PDF Downloads 559

Authors: P. Kanakasabapathy, S. Radhika

Abstract:

In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self-scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self-scheduling to ensure profit for the plant.

Keywords: ancillary services, BPSO, power system economics, self-scheduling, sliding window technique

Procedia PDF Downloads 401

Authors: Joseph Paul Chunga

Abstract:

The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

Procedia PDF Downloads 185

Authors: Bernur Acikgoz

Abstract:

The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990-2013. Our models results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.

Keywords: public spending, economic growth, panel data, ARDL models

Procedia PDF Downloads 370

Authors: Umar Hayat, Shahid Ali, Lala Rukh

Abstract:

Foreign aid is one of the critical variables that promote economic growth. This paper is an attempt to examine the long-run relationship between foreign aid and economic growth for Pakistan over the period of 1972 to 2021. This study uses Johnson's co-integration technique to investigate the long-run relationship among the variables in the model. For short-run dynamics, we utilized the Error Correction Mechanism (ECM). The results strongly support the conventional view about aid-led growth. The analysis of the impact of aid on growth both at the micro and the macro levels generally gives different results. The result shows that in the short run inference of foreign aid under the nondemocratic form of government is significant negatively, while foreign aid does not affect economic growth in the case of democratic government.

Keywords: foreign aid, economic growth, political regimes, developing economy

Procedia PDF Downloads 44

Authors: Umar Adli Amran, Tan Choon Chek, Mohd Shahkhirat Norizan, Then Kek Hoe

Abstract:

Controlled release fertilizer (CRF) enables a regulated nutrients release for more efficient plant uptake compared to the normal granular fertilizer. It reduces nutrients loss via surface run-off and leaching, hence promotes sustainable agriculture. Although the performance of CRF in providing consistent and timely nutrients supply is well known, its expensive price limits it usage in a large scale plantation. This study is conducted to evaluate the properties and performance of bio-based polyurethane (PU)-coated CRF via laboratory and oil palm main nursery trial. The CRF is produced by coating of a normal commercial compound granular fertilizer from FGV Fertiliser Sdn. Bhd., namely Felda 10 (10.5-8-20-3+0.5B), and designated as CRF FGV10. Based on laboratory evaluation, the CRF FGV10 can sustain nutrients release for more than 6 months. Vegetative growth parameters such as girth size, palm height, third frond length, and the total number of fronds produced were recorded. Besides that, dry biomass of the oil palm seedlings was also determined. From the evaluation, it is proved that at 50% reduction of nutrients application rate and for only two times application (T3), CRF FGV10 enabled the oil palm seedlings to achieve similar vegetative growth with the control samples (T1). It is also proven that only PU-coated CRF FGV10 had allowed the reduction of fertilizer rate and application rounds.

Keywords: nutrition, oil palm seedlings, polyurethane, sustainable manuring, vegetative growth

Procedia PDF Downloads 61

Authors: Haoxue Cui, Sirui Zhang, Shanshan Gao, Weiyi Zhang, Lantian Wang, Xuanwen Zheng

Abstract:

The 2020 "multi-school zoning" policy makes students ineligible for direct attendance in their district. To study whether the housing price trend of the school district is affected by the policy, This paper studies housing prices based on the school district division in Xicheng District, Beijing. In this paper, we collected housing prices and the basic situation of communities from "Anjuke", which were divided into two periods of 15 months before and after the 731 policy in the Xicheng District, Beijing. Then we used DID model and time fixed effect to investigate the DIFFERENTIAL statistics, that is, the overall net impact of the policy. The results show that the coefficient is negative at a certain statistical level. It indicates that the housing prices of school districts in the Xicheng district decreased after the "multi-school zoning" policy, which shows that the policy has effectively reduced the housing price of school districts in the Xicheng District and laid a foundation for the "double reduction" policy in 2022.

Keywords: “multi-school zoning”policy, DID, time fixed effect, housing prices

Procedia PDF Downloads 160

Authors: Tseng-Lung Huang

Abstract:

Sensory breadth experiences, such as visualization, a sense of self-location, and haptic experiences, are critical in an online try-on environment. This research adopts an emotional appeal perspective, including concrete and abstract effects, to clarify the relationship between sensory experience and consumer's behavior intention in an online try-on context. This study employed an augmented reality interactive technology (ARIT) in an online clothes-fitting context and applied snowball sampling using e-mail to invite online consumers, first to use ARIT for trying on online apparel and then to complete a questionnaire. One hundred sixty-eight valid questionnaires were collected, and partial least squares (PLS) path modeling was used to test our hypotheses. The results showed that sensory breadth, by arousing concrete effect, induces impulse buying intention and willingness to pay a price premium of online shopping. Parasocial presence, as an abstract effect, diminishes the effect of concrete effects on willingness to pay a price premium.

Keywords: sensory breadth, impulsive behavior, price premium, emotional appeal, online try-on context

Procedia PDF Downloads 547

Authors: Gisele Mah, Paul Saah

Abstract:

The rising rates of inflation are hindering economic growth in developing nations. Hence, this study investigated the effects of inflation rates on the economic growth of South Africa using the secondary time series data from 1987 to 2022. The main objectives of this study were to investigate the long run relationship between inflation and economic growth, and also to determine the causality direction between these two variables. The study utilized the Autoregressive Distributed Lag (ARDL) bounds test of co-integration to investigate whether there is a long-run relationship between inflation and economic growth. The Pairwise Granger causality approach was employed to determine the second objective, which is the direction of causality. The study discovered only one co-integration relationship between our variables and it was between inflation and economic growth. The results showed that there is a negative and significant relationship between inflation and economic growth. There appeared to be a positive and significant relationship between economic growth and exchange rate. The interest rates have shown to be negative and insignificant in explaining economic growth. The study also established that inflation does Granger cause economic growth which is given as GDP. Similarly, the study discovered that inflation Granger causes exchange rates. Therefore, the study recommends that inflation should be decreased in South Africa, in order for economic growth to increase. Contrary, this study recommends that South Africa should increase its exchange rates, in order for economic growth to also increase.

Keywords: inflation rate, economic growth, South Africa, autoregressive distributed lag model

Procedia PDF Downloads 47

Authors: Petra Buzkova, Milos Kopa

Abstract:

Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

Procedia PDF Downloads 262

Authors: Yuhanis Yusof, Zuriani Mustaffa, Siti Sakira Kamaruddin

Abstract:

Data mining is a fundamental technique in identifying patterns from large data sets. The extracted facts and patterns contribute in various domains such as marketing, forecasting, and medical. Prior to that, data are consolidated so that the resulting mining process may be more efficient. This study investigates the effect of different data normalization techniques, which are Min-max, Z-score, and decimal scaling, on Swarm-based forecasting models. Recent swarm intelligence algorithms employed includes the Grey Wolf Optimizer (GWO) and Artificial Bee Colony (ABC). Forecasting models are later developed to predict the daily spot price of crude oil and gasoline. Results showed that GWO works better with Z-score normalization technique while ABC produces better accuracy with the Min-Max. Nevertheless, the GWO is more superior that ABC as its model generates the highest accuracy for both crude oil and gasoline price. Such a result indicates that GWO is a promising competitor in the family of swarm intelligence algorithms.

Keywords: artificial bee colony, data normalization, forecasting, Grey Wolf optimizer

Procedia PDF Downloads 475

Authors: Fekri Shawtari

Abstract:

The banking sector plays a very crucial role in the economic development of the country. As a financial intermediary, it has assigned a great role in the economic growth and stability. This paper aims to examine the empirically the relationship between banking industry and economic growth in state of Qatar. We adopt the VAR vector error correction model (VECM) along with Granger causality to address the issue over the long-run and short-run between the banking sector and economic growth. It is expected that the results will give policy directions to the policymakers to make strategies that are conducive toward boosting development to achieve the targeted economic growth in current situation.

Keywords: economic growth, banking sector, Qatar, vector error correction model, VECM

Procedia PDF Downloads 170

Authors: Philippe Gugler

Abstract:

This contribution reflects some important questions regarding inter alia the economic development occurring in the light of the ASEAN’s goal of creating the ASEAN Economic Community (AEC) by 2015. We observe a continuing economic growth of GDP per capita over recent years despite the negative effects of the world economic crisis. IMF forecasts indicate that this trend will continue. The paper focuses on the analysis and comparison of economic growth trends of ASEAN countries.

Keywords: ASEAN, convergence, divergence, economic growth, globalization, integration

Procedia PDF Downloads 518

Authors: Bindya Jacob

Abstract:

The aim of the present study was to assess the quality of catchup growth induced by Oral Nutrition Supplement (ONS), in animal model of growth restriction due to under nutrition. Quality of catch-up growth was assessed by proportion of lean body mass (LBM) and fat mass (FM). Young SD rats were food restricted at 70% of normal caloric intake for 4 weeks; and re-fed at 120% of normal caloric intake for 4 weeks. Refeeding diet had 50% calories from animal diet and 50% from ONS formulated for optimal growth. After refeeding, the quantity and quality of catch-up growth were measured including weight, length, LBM and FM. During nutrient restriction, body weight and length of animals was reduced compared to healthy controls. Both LBM and FM were significantly lower than healthy controls (p < 0.001). Refeeding with ONS resulted in increase of weight and length, with significant catch-up growth compared to baseline (p < 0.001). Detailed examination of body composition showed that the catch-up in body weight was due to proportionate increase of LBM and FM, resulting in a final body composition similar to healthy controls. This data supports the use of well-designed ONS for recovery from growth restriction due to under nutrition, and return to normal growth trajectory characterized by normal ratio of lean and fat mass.

Keywords: catch up growth, body composition, nutrient restriction, healthy growth

Procedia PDF Downloads 438

Authors: Oded Hochman

Abstract:

We first show that current measures of welfare changes in the whole economy do not apply to an economy with cities. In addition, since such measures are defined over a partial equilibrium, they capture only partially the effect of a welfare change. We then define a unique and additive measure that we term the modified economic surplus (mES) which fully captures the welfare effects caused by a change in the price of a nationally traded good. We show that the price change causes, on the one hand a change of land rents in the economy and, on the other hand, an equal change of mES that can be estimated by measuring areas in the price-quantity national demand and supply plane. We construct for each city a cost function from which we derive a city’s and, after aggregation, an economy-wide demand and supply functions of nationwide prices and of either the unearned incomes (Marshalian functions) or the utility levels (compensated functions).

Keywords: city cost function, welfare measures, modified compensated variation, modified economic surplus, unearned income function, differential land rents, city size

Procedia PDF Downloads 320

Authors: Saeed Yazdani, Shahrbanoo Bagheri, Sepideh Nikravesh

Abstract:

Considering the importance and scarcity of water resources, the efficient management of water resources is of great importance. Adoption of modern irrigation technology is considered to be a key of increasing the efficiency of water used in agriculture. Policy makers have implemented several ways to induce the adoption of new irrigation technology. The empirical studies show that farmers are reluctant to utilize the use of new irrigation methods. This study aims to assess factors affecting on farmer’s decision on the application of water saving technologies with emphasize on crop price variation and water sources. A Logit model was employed to examine the impact of different variables on use of water saving technology. The required data gathered from a sample of 204 farmers in the year 2012. The results indicate that different variables such as crop price variability, water supply source, high-value crops, farm size, income, education, membership in cooperatives have a positive effect and variables such as age and number of plots have a negative impact on the probability of adopting modern water saving technologies.

Keywords: irrigation, water, water saving technology, scarcity

Procedia PDF Downloads 225

Authors: Cesar Leines

Abstract:

The social effects of the pandemic are significant and diverse, most of those effects have widened the gap of economic inequality. Without a doubt, each country faces difficulties associated with the strengths and weaknesses of its own institutions that can address these causes and consequences. Around the world, pricing practices that have no connection to production costs have been used extensively in numerous markets beyond those relating to the supply of essential goods and services, and although it is not unlawful to adjust pricing considering the increased demand of certain products, shortages and disruption of supply chains, illegitimate pricing practices may arise and these tend to transfer wealth from consumers to producers that affect the purchasing power of the former, making people worse off. High prices with no objective justification indicate a poor state of the competitive process in any market and the impact of those underlying competition issues leading to inefficiency is increased when national competition agencies are weak and ineffective in enforcing competition in law and policy. It has been observed that in those countries where competition authorities are perceived as weak or ineffective, price increases of a wide range of products and services were more significant during the pandemic than those price increases observed in countries where the perception of the effectiveness of the competition agency is high. When a perception is created of a highly effective competition authority, one which enforces competition law and its non-enforcement activities result in the fulfillment of its substantive functions of protecting competition as the means to create efficient markets, the price rise observed in markets under its jurisdiction is low. A case study focused on the effectiveness of the national competition agency in Mexico (COFECE) points to institutional weakness as one of the causes leading to excessive pricing. There are many factors that contribute to its low effectiveness and which, in turn, have led to a very significant price hike, potentiated by the pandemic. This paper contributes to the discussion of these factors and proposes different steps that overall help COFECE or any other competition agency to increase the perception of effectiveness for the benefit of the consumers.

Keywords: agency effectiveness, competition, institutional weakness, price gouging

Procedia PDF Downloads 176

Authors: Jessica Ordoñez, Francisco Ochoa, Pascual García

Abstract:

The objective of this paper is to analyze the relationship between return migration in Ecuador and economic growth. The improvement of macroeconomic conditions in Latin America, starting in 2012, makes the region a new migratory destination, in both senses in north-south and south-south flows. Current studies highlight only the role of the entrepreneurial migrant in generating employment and economic growth in the region. Nevertheless, it has not been considered that not all migrants are entrepreneurs and that not all entrepreneurs contribute to economic growth. This research compares the socioeconomic and labor characteristics of migrant returnees working as freelancers in Ecuador. The principal aim is to demystify the role of migrant entrepreneurs in regional growth and to identify socioeconomic characteristics that can enhance growth. A panel econometric model was used, which is part of the information from labor and macroeconomic surveys.

Keywords: economic growth, entrepreneur, migration, returned migration

Procedia PDF Downloads 211

Authors: S. Boonlertnirun, R. Suvannasara, K. Boonlertnirun

Abstract:

Hypoxia has negative effects on growth and crop yield, its severity is so varied depending on crop growth stages, duration of hypoxia and crop species. The objective was to evaluate the sensitive growth stage and the duration of hypoxia negatively affecting growth and yield of waxy corn. Pot experiment was conducted using a split plot in randomized complete block with 3 growth stages: V3 (3-4 true leaves), V7 (7-8 true leaves), and R1 (silking stage), and three hypoxic durations: 6, 9, and 12 days, in an open–ended outdoor greenhouse during January to March 2013. The results revealed that different growth stages had significantly (p < 0.5) different responses to hypoxia, seeing that the sensitive growth stage affecting plant height, yield and yield components was mostly detected in V7 growth stage whereas leaf greenness and days to silking were sensitive to hypoxia at R1 growth stage. Different hypoxic durations significantly affected the yield and yield components, hypoxic duration of twelve days showed the most negative effect greater than the others. In this present study, it can be concluded that waxy corn plants were waterlogged at V7 growth stage for twelve days had the most negative effect on yield and yield components.

Keywords: hypoxia duration, waxy corn, growth stage, Zea mays L.

Procedia PDF Downloads 395

Authors: Jameelah Omolara Yaqub

Abstract:

One of the main reasons for the existence of central bank is that it is believed that central banks have some influence on private sector decisions which will enable the Central Bank to achieve some of its objectives especially that of stable price and economic growth. By the assumption of the New Keynesian theory that prices are fully flexible in the short run, the central bank can temporarily influence real interest rate and, therefore, have an effect on real output in addition to nominal prices. There is, therefore, the need for the Central Bank to monitor, respond to, and influence private sector decisions appropriately. This thus shows that the Central Bank and the private sector will both affect and be affected by each other implying considerable interdependence between the sectors. The interdependence may be simultaneous or not depending on the level of information, readily available and how sensitive prices are to agents’ expectations about the future. The aim of this paper is, therefore, to determine whether the interdependence between asset prices and monetary policy are simultaneous or not and how important is this relationship. Studies on the effects of monetary policy have largely used VAR models to identify the interdependence but most have found small effects of interaction. Some earlier studies have ignored the possibility of simultaneous interdependence while those that have allowed for simultaneous interdependence used data from developed economies only. This study, therefore, extends the literature by using data from a developing economy where information might not be readily available to influence agents’ expectation. In this study, the direction of relationship among variables of interest will be tested by carrying out the Granger causality test. Thereafter, the interaction between asset prices and monetary policy in Nigeria will be tested. Asset prices will be represented by the NSE index as well as real estate prices while monetary policy will be represented by money supply and the MPR respectively. The VAR model will be used to analyse the relationship between the variables in order to take account of potential simultaneity of interdependence. The study will cover the period between 1980 and 2014 due to data availability. It is believed that the outcome of the research will guide monetary policymakers especially the CBN to effectively influence the private sector decisions and thereby achieve its objectives of price stability and economic growth.

Keywords: asset prices, granger causality, monetary policy rate, Nigeria

Procedia PDF Downloads 220

Authors: Yan Wang, Yasushi Asami, Yukio Sadahiro

Abstract:

In urban area, several landmarks may affect housing price and rents, hedonic analysis should employ distance variables corresponding to each landmarks. Unfortunately, the effects of distances to landmarks on housing prices are generally not consistent with the true price. These distance variables may cause magnitude error in regression, pointing a problem of spatial multicollinearity. In this paper, we provided some approaches for getting the samples with less bias and method on locating the specific sampling area to avoid the multicollinerity problem in two specific landmarks case.

Keywords: landmarks, hedonic regression, distance variables, collinearity, multicollinerity

Procedia PDF Downloads 452

Authors: Erfan Memarian, Seyyed Fazayel Alizadeh

Abstract:

This study aims to evaluate the impacts of the oil and financial markets of the United States on Iran stock exchange and to develop an ARDL model to predict the short and long-term relationship between these markets. In this regard, all 713 weekly data between 28 July 1999 and 20 March 2013 were analyzed by using Microfit4.0 and Eviews7 econometric softwares. The independent variable of the study is the “Price and Yield Index (TEDPIX)” of Tehran Stock Exchange and the independent variables include S & P 500 Index, the US three-month treasury bill rate and West Texas Intermediate oil spot price index. The results show that the West Texas Intermediate oil spot price and the S&P 500 indices have significant positive relationships with Iran's TEDPIX. Also, there exists a significant negative relationship between Iran's TEDPIX and the US three-month Treasury bill rate.

Keywords: TEDPIX; Tehran Stock Exchange; S&P 500 index; USA three-month Treasury bill rate; West Texas Intermediate oil

Procedia PDF Downloads 324

Authors: Elsayeda M. Elgaml, Dina M. Ibrahim, Elsayed A. Sallam

Abstract:

Association rule mining is one of the most important fields of data mining and knowledge discovery. In this paper, we propose an efficient multiple support frequent pattern growth algorithm which we called “MSFP-growth” that enhancing the FP-growth algorithm by making infrequent child node pruning step with multiple minimum support using maximum constrains. The algorithm is implemented, and it is compared with other common algorithms: Apriori-multiple minimum supports using maximum constraints and FP-growth. The experimental results show that the rule mining from the proposed algorithm are interesting and our algorithm achieved better performance than other algorithms without scarifying the accuracy.

Keywords: association rules, FP-growth, multiple minimum supports, Weka tool

Procedia PDF Downloads 485

Authors: Nora Neuteboom

Abstract:

This study investigates household financial behaviors during unemployment spells in the Netherlands using high-frequency transaction data through a event study specification integrating propensity score matching. In our specification, we contrasted treated individuals, who underwent job loss, with non-treated individuals possessing comparable financial characteristics. The initial onset of unemployment triggers a substantial surge in income, primarily attributed to transition payments, but swiftly drops post-unemployment, with unemployment benefits covering slightly over half of former salary earnings. Despite a re-employment rate of around half within six months, the treatment group experiences a persistent average monthly earnings reduction of approximately 600 EUR by month. Spending patterns fluctuate significantly, surging before unemployment due to transition payments and declining below non-treated individuals post-unemployment, indicating challenges to fully smooth consumption after job loss. Furthermore, our study disentangles the effects of transition payments and liquidity holdings on spending, revealing that transition payments exert a more pronounced and prolonged impact on consumption smoothing than liquidity holdings. Transition payments significantly stimulate spending, particularly in pin and iDEAL categories, contrasting a much smaller relative spending impact of liquidity holdings.

Keywords: household consumption, transaction data, big data, propensity score matching

Procedia PDF Downloads 18

Authors: Ririh Rahma Ratinghayu, Jayu Pramudya, Nur Aini Masruroh, Shi-Woei Lin

Abstract:

This research studies pricing strategy in cooperative setting of hotel duopoly selling perishable product under fixed capacity constraint by using the perspective of managers. In hotel revenue management, competitor’s average room rate and occupancy rate should be taken into manager’s consideration in determining pricing strategy to generate optimum revenue. This information is not provided by business intelligence or available in competitor’s website. Thus, Information Sharing (IS) among players might result in improved performance of pricing strategy. IS is widely adopted in the logistics industry, but IS within hospitality industry has not been well-studied. This research put IS as one of cooperative game schemes, besides Mutual Price Setting (MPS) scheme. In off-peak season, hotel manager arranges pricing strategy to offer promotion package and various kinds of discounts up to 60% of full-price to attract customers. Competitor selling homogenous product will react the same, then triggers a price war. Price war which generates lower revenue may be avoided by creating collaboration in pricing strategy to optimize payoff for both players. In MPS cooperative game, players collaborate to set a room rate applied for both players. Cooperative game may avoid unfavorable players’ payoff caused by price war. Researches on horizontal cooperative game in logistics show better performance and payoff for the players, however, horizontal cooperative game in hotel revenue management has not been demonstrated. This paper aims to develop hotel revenue management models under duopoly cooperative schemes (IS & MPS), which are compared to models under non-cooperative scheme too. Each scheme has five models, Capacity Allocation Model; Demand Model; Revenue Model; Optimal Price Model; and Equilibrium Price Model. Capacity Allocation Model and Demand Model employs self-hotel and competitor’s full and discount price as predictors under non-linear relation. Optimal price is obtained by assuming revenue maximization motive. Equilibrium price is observed by interacting self-hotel’s and competitor’s optimal price under reaction equation. Equilibrium is analyzed using game theory approach. The sequence applies for three schemes. MPS Scheme differently aims to optimize total players’ payoff. The case study in which theoretical models are applied observes two hotels offering homogenous product in Indonesia during a year. The Capacity Allocation, Demand, and Revenue Models are built using multiple regression and statistically tested for validation. Case study data confirms that price behaves within demand model in a non-linear manner. IS Models can represent the actual demand and revenue data better than Non-IS Models. Furthermore, IS enables hotels to earn significantly higher revenue. Thus, duopoly hotel players in general, might have reasonable incentives to share information horizontally. During off-peak season, MPS Models are able to predict the optimal equal price for both hotels. However, Nash equilibrium may not always exist depending on actual payoff of adhering or betraying mutual agreement. To optimize performance, horizontal cooperative game may be chosen over non-cooperative game. Mathematical models can be used to detect collusion among business players. Empirical testing can be used as policy input for market regulator in preventing unethical business practices potentially harming society welfare.

Keywords: horizontal cooperative game theory, hotel revenue management, information sharing, mutual price setting

Procedia PDF Downloads 289

Authors: Jeeban Amgain

Abstract:

This paper investigates the impact of the size and composition of government expenditure and tax on GDP per capita growth in 36 Asian economies over the period of 1991-2012. The research employs the technique of panel regression; Fixed Effects and Generalized Method of Moments (GMM) as well as other statistical and descriptive approaches. The finding concludes that the size of government expenditure and tax revenue are generally low in this region. GDP per capita growth is strongly negative in response to Government expenditure, however, no significant relationship can be measured in case of size of taxation although it is positively correlated with economic growth. Panel regression of decomposed fiscal components also shows that the pattern of allocation of expenditure and taxation really matters on growth. Taxes on international trade and property have a significant positive impact on growth. In contrast, a major portion of expenditure, i.e. expenditure on general public services, health and education are found to have significant negative impact on growth, implying that government expenditures are not being productive in the Asian region for some reasons. Comparatively smaller and efficient government size would enhance the growth.

Keywords: government expenditure, tax, GDP per capita growth, composition

Procedia PDF Downloads 475

Authors: Tanimola Kazeem Abiodun

Abstract:

In the paper, attempt was made to investigate the impact of international trade on economic growth at the disaggregate level both from the theoretical and economic angle. The study in its contribution examines this impact at the disaggregated level. To this end, a hypothesis was formulated to investigate the short ?run and long run impact of international trade on growth in the country. In the econometrics investigation that follow, international trade was disaggregated to export and imports and their short run and long run effect on growth was examined. Also, the aggregate international trade was also investigated to see the long run effects of its own growth. The results of the findings indicate that; both export and import impact significantly to growth in the short run. The long-run impact of export on growth was found to be positive, significant and stable both. Engle-Granger co integration test and error correlation mechanism were applied to these long run relationships. For the import, while the short run was found to be positive and significant on its impact on growth, the long run relationship was found to be negative but not significant. Therefore, it is thus recommended among others that the country should engage more on export promotion drives.

Keywords: international trade, disaggregated, import, export, econometrics, trade, economic growth, foreign trade, import, export

Procedia PDF Downloads 410