Does corporate governance affect financial analysts' stock recommendations, target prices accuracy and earnings forecast characteristics? An empirical investigation of US companies [0.03%]
公司治理会影响财务分析师的投资建议、目标股价的准确性以及收益预测特征吗？美国上市公司的实证研究
Ahmed Bouteska,Mehdi Mili
Ahmed Bouteska
This paper investigates how corporate governance quality affects the analyst's stock recommendations, forecast efficiency and target price accuracy on New York Stock Exchange. In particular, as corporate governance is often uncertain and am...
Complex network analysis of volatility spillovers between global financial indicators and G20 stock markets [0.03%]
复杂网络视角下全球金融市场间溢出效应分析
Burak Korkusuz,David G McMillan,Dimos Kambouroudis
Burak Korkusuz
This paper analyses the dynamic transmission mechanism of volatility spillovers between key global financial indicators and G20 stock markets. To examine volatility spillover relations, we combine a bivariate GARCH-BEKK model with complex n...
Working capital management, financial constraints and exports: evidence from European and US manufacturers [0.03%]
营运资本管理、财务约束与出口能力——来自欧美厂商的证据
José Manuel Mansilla-Fernández,Juliette Milgram-Baleix
José Manuel Mansilla-Fernández
This paper investigates the effect of firms' working capital management, measured by the cash conversion cycle (CCC) on exports, on both the intensive and extensive margins. By using Heckman's two-stage model for the treatment of sample sel...
Assessing nonlinearities and heterogeneity in debt sustainability analysis: a panel spline approach [0.03%]
债务可持续性分析中的非线性和异质性的评估：板块样条法
Benjamin Owusu,Bettina Bökemeier,Alfred Greiner
Benjamin Owusu
This paper empirically studies public debt sustainability with the penalized panel splines approach for 25 EU economies from 2000 to 2019 by estimating the response of the primary surplus to lagged debt relative to GDP, respectively. A posi...
An extended wavelet approach of the money-output link in the United States [0.03%]
美国货币与产出关系的扩展现波LET分析方法
Mihai Mutascu,Alexandre Sokic
Mihai Mutascu
The paper examines the link between money and output in the U.S. by using wavelet analysis. The time span covers the period from 1960Q1 to 2021Q1. The main results evidence that money positively leads real output from the late 1960s to 1982...
Economic analysis using higher-frequency time series: challenges for seasonal adjustment [0.03%]
高频时间序列的经济分析：季节调整所面临的挑战
Daniel Ollech,Deutsche Bundesbank
Daniel Ollech
The COVID-19 pandemic has increased the need for timely and granular information to assess the state of the economy in real time. Weekly and daily indices have been constructed using higher-frequency data to address this need. Yet the seaso...
Noise shocks and business cycle fluctuations in three major European Economies [0.03%]
噪音冲击与三大欧洲经济体的经济周期波动
Nicolas Reigl
Nicolas Reigl
This paper investigates how supply noise and demand noise contribute to business cycle fluctuations in three major European economies. A structural vector autoregressive model is used to identify supply, demand, supply noise and demand shoc...
Do methane emissions converge? Evidence from global panel data on production- and consumption-based emissions [0.03%]
基于生产端和消费端的全球甲烷排放会趋同吗？面板数据分析
Octavio Fernández-Amador,Doris A Oberdabernig,Patrick Tomberger
Octavio Fernández-Amador
Methane emissions are the second most important contributor to global warming. Knowledge about the dynamics of methane emissions facilitates the formulation of climate policies and the understanding of their consequences. We investigate whe...
The influence of schooling on performance in chess and at the Olympics [0.03%]
学校教育对棋类和奥运项目运动表现的影响分析
David Forrest,J D Tena,Carlos Varela-Quintana
David Forrest
At the macro-level, it is hard to test the hypothesis that increased schooling in a country will raise labour productivity but sectoral analyses may be tractable. In sports, output is homogenous in that countries' achievements are measurabl...
'Investing' in care for old age? An examination of long-term care expenditure dynamics and its spillovers [0.03%]
长期照护支出的动力学及其溢出效应探究
Joan Costa-Font,Cristina Vilaplana-Prieto
Joan Costa-Font
We study the dynamic drivers of expenditure on long-term care (LTC) programmes, and more specifically, the effects of labour market participation of traditional unpaid caregivers (women aged 40 and older) on LTC spending, alongside the spil...