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551.
This article aims to extend the literature about the role played by socio-economic and family background in educational outcomes by comparing the determinants of two different dimensions of educational output: academic achievement and non-cognitive traits. To do this, we explore the information provided by a self-report survey developed specifically for the purpose of this research. This will provide us with an innovative measure of non-cognitive performance based on particular personal traits, such as responsibility, effort, motivation and critical capacity, as well as a common measure of cognitive proficiency. We use a Bayesian approach to estimate the potential influence of multiple individual and family variables on both dimensions of educational output. From our results, we find that, despite some similarities, there are several important divergences with regard to some socio-economic variables that have been traditionally considered to be the most influential determinants of academic achievement which do not appear to have a significant impact on non-cognitive outcomes. 相似文献
552.
Carmen López-Andión Ana Iglesias-Casal Jose Manuel Maside-Sanfiz 《European Journal of Finance》2019,25(2):155-166
This paper analyses the effect of securitization issues on the solvency of Portuguese financial institutions. For this purpose, we use an unbalanced panel model estimated using GMM methods and find that securitization has a slightly positive impact on the soundness of the issuing entity. We study 35 financial entities and 60 traditional securitizations issued by 9 originators between 2001 and 2013. The analysis reveals that the financial entities’ soundness improved slightly, showing that securitization enhanced the quality of the originators’ portfolios and increased the regulatory capital requirements. We also found that efficiency and profitability improve the risk-adjusted ROAA and that efficiency increases regulatory capital requirements. The robustness analysis confirms the positive effect of securitization on solvency, where both credit quality and liquidity are shown to be significant variables. 相似文献
553.
554.
In this paper, we obtain some recurrence relationships for conditional expectations of nonadjacent order statistics and record
values when the distribution function is absolutely continuous, and we prove that the distribution function is uniquely determined
by the distribution of conditioned record values and by the expected values of these records. Further, different distributions
are characterized by these relationships. 相似文献
555.
María Angeles Gil María Asunción Lubiano Manuel Montenegro María Teresa López 《Metrika》2002,56(2):97-111
The ultimate goal of this paper is to determine a measure of the degree of dependence between two interval-valued random
sets, when the dependence is intended in the sense of an affine function relating these random elements. For this purpose,
a general study on the least squares fitting of an affine function for interval-valued data is first carried out, where the
least squares method we will present considers that squared residuals are based on a generalized metric on the space of nonempty
compact intervals, and output and input random mechanisms are modelled by means of convex compact random sets. For the general
case of nondegenerate convex compact random sets, solutions are presented in an algorithmic way, and the few cases leading
to nonunique solutions are characterized. On the basis of this regression study we later introduce and analyze a well-defined
determination coefficient of two interval-valued random sets, which will allow us to quantify the strength of association
between them, and an algorithm for the computation of the coefficient has been also designed. Finally, a real-life example
illustrates the study developed in the paper.
The research in this paper has been partially supported by DGESIC Grants DGE-99-PB98-1534 and DGE-98-PB97-1282 of the Spanish
MEC. Their financial support is gratefully acknowledged.
Acknowledgements. The authors are deeply grateful to Professor Wolfgang N?ther from the University of Freiberg and their colleagues Professors
Norberto Corral, Miguel López-Dı′az and Ignacio MartVnez for their valuable comments and suggestions in connection with this
paper. The real-life data which illustrate the study in this paper have been supplied by Aurora Fonseca, Head of the Servicio
de Nefrologı′a, and Miguel de Zárraga, General Medical Manager, from the Hospital Valle del Nalón de Langreo in Asturias;
we want to thank them sincerely for their collaboration and support. 相似文献
556.
Summary This paper develops a duality theory for preference orders, and highlights important differences with respect to the cardinal utility approach. Our main result is a symmetric duality theorem, under the minimal hypotheses, between direct and indirect preferences. In contrast to the cardinal theory, we also find that these conditions do not completely characterize the class of indirect preference orders.We are grateful to an editor for helpful remarks. This work was partially supported by DGICYT (Spain), Project PS89-OO58. 相似文献
557.
Summary. In this paper, we show that the competitive equilibrium is optimal in the Uzawa-Lucas model with sector-specific externalities associated to human capital in the goods sector. Thus, these external effects do not provoke a market failure and do not provide a rationale for government intervention.Received: 1 November 2002, Revised: 3 June 2003, JEL Classification Numbers:
E62, H21, O41.I wish to thank Sandra López Calvo and an anonymous referee for their valuable comments. Financial support from the Spanish Ministry of Science and Technology and FEDER through Plan Nacional de Investigación Científica, Desarrollo e Innovación Tecnológica (I+D+I) Grant SEC2002-03663 is gratefully acknowledged. 相似文献
558.
559.
The traditional expected-net-present-value methods cannot properly capture the management flexibility and strategic value
aspects of a fishery, and may understate its value. Instead, this paper develops a Real Options model to conceptualize and
evaluate fishery exploitation flexibility. Specifically, general models to value the opportunity to either exploit or invest
in a fishery are presented. They suffice to determine not only these values, but also the optimal policy for opening, closing,
delaying and setting its harvest rate. The sustainable case in which the harvest rate equals the natural net growth function
is also considered. Concerning the exploitation decision, it is found that, as could be expected, the higher the resource
price the higher the value of this opportunity in both models (general and sustainable). However, the resource stock affects
both models differently. As to the investment opportunity, its value is always lower than the exploitation opportunity because
of investment costs. Finally, numerical simulations are run in order to illustrate the nature of the solution. Sensitivity
analysis concerning the influence of the tax rate, convenience yield, risk-free interest rate and price volatility on the
value of the fishery is also reported.
Earlier versions of this paper have benefited from conference participants at the Young Economists Conference 2000 (Oxford
University), Tenth Biennial Conference of the International Institute of Fisheries Economics and Trade (Oregon State University),
XXV Simposio de Análisis Económico (Universidad Autónoma de Barcelona, Spain) and Seminar at the Dpt. Fundamentos del Análisis
Económico (Universidad del País Vasco, Spain). We especially thank Prof. Ian Bateman and two anonymous referees whose insightful
comments have enabled us to eliminate several errors and to improve the presentation. Murillas gratefully acknowledges doctoral
fellowship from Ministerio de Educación y Ciencia (AP96), and financial support from the Xunta de Galicia (PGIDT01PXI30004PR)
and from the Ministerio de Ciencia y Teconología (SEC 2001-3700). The usual disclaimer applies. 相似文献
560.
Manuel Espitia-Escuer 《International Advances in Economic Research》2003,9(3):233-247
It is foreseeable that the integration of domestic economies into a single market (globalization) will have a direct consequence on firm profits. Firms will see their returns converge in the long-term towards an equilibrium value that is identical to that of diverse firms coming from other economies. The authors' objective is to test the existence of a process of convergence between economies. Thus, they analyze the evolution of the competitive process of the manufacturing sector in eight countries. The results suggest that even though the competitive forces that operate at an international level will result in the convergence of the respective returns of firms in the long-term, the convergence process is only partial. (JEL 16)This research has been financed by the MCYT-FEDER Research Project SEC 2002-00835 相似文献