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1.
Luisa Turrin Fernholz 《Metrika》2001,53(2):123-140
In this paper we review the von Mises calculations of higher order for statistical functionals of one variable. For the functionals of several variables, the higher order Gateaux differentials are defined leading to the corresponding multivariate higher order von Mises expansions. These expansions are used to analyze the bias of the corresponding statistical functionals. The second and third order derivatives are computed for M-estimates. Applications of these expansions to study the bias of M-estimates of location and to simultaneous M-estimates of location and scale are also given. Received: July 2000 相似文献
2.
Previous results show relatively small amounts of time variation in the Hasbrouck (1995) information share across international markets. Using data from a security that was cross‐listed on the New York and London Stock Exchanges in the 1860s, we find that the information share changes dramatically during a financial crisis that began in the foreign market. 相似文献
3.
文章运用SWOT分析方法从定性角度分析广西再生铜产业在发展过程中所面临的机遇与威胁以及优势和劣势,然后运用层次分析法定量分析影响广西再生铜产业的各种内外部因素,得出:(1)在当前外部环境下广西再生铜产业发展中面临的最大机会是铜的市场需求很大,而最大的威胁是再生铜原料供应日趋紧张;(2)在当前内部环境下广西再生铜产业发展中最大的优势是地理区位优势,而最大的劣势在于技术装备水平落后。最后采用SWOT四边形的方法选择出适合广西再生铜产业发展的SO战略。 相似文献
4.
This paper analyses the cost of capital of firms with foreign equity listings. Our purpose is to shed light on the question whether international and domestic asset pricing models yield a different estimate of the cost of capital for cross‐listed stocks. We distinguish between (i) the multifactor ICAPM of Solnik (1979) and Sercu (1980) including both the global market portfolio and exchange rate risk premia and (ii) the single factor domestic CAPM. We test for the significance of the cost of capital differential in a sample of 336 cross‐listed stocks from nine countries in the period 1980–99. Our hypothesis is that the cost of capital differential is substantial for firms with international listings, as these are often large multinationals with a strong international orientation. We find that the asset pricing models yield a significantly different estimate of the cost of capital for only 12% of the cross‐listed companies. The size of the cost of capital differential is around 50 basis points for the US, 80 basis points for the UK and 100 basis points for France. 相似文献
5.
Social media, an open space for the public's opinion and expression, has become an increasingly essential issue in crisis events, leading to secondary crisis communication. Realizing the potential risk of that, this study took the “Occupy Central” spreading on Weibo as a case, and applied topic clustering and sentiment analysis to examine the sequential characteristics of secondary crisis communication on social media in topics and emotions. Results show that the topics Weibo users discussed shifted from a political event to tourism boycott, with emotions turning increasingly negative. The turning point of such a transfer was aroused group conflicts and negative emotions elicited between people from mainland China and Hong Kong. The results indicate the necessity of emphasizing secondary crisis communication during a crisis due to the dynamic and sequential change of topics and public's emotions, which may result in new crises impacting the tourism destination where the initial crisis occurs. 相似文献
6.
Numerous studies in the marketing literature focused on consumer behavior in general, but relatively few studies have examined Impulse purchase behavior (IPB). Although few studies examined IPB, the vast majority of the studies were conducted using the cross-sectional design. These studies suffer from certain limitations like random measurement error, common method bias, causality & validity-related issues that are inherently associated with the cross-sectional design. Despite these limitations, very few studies have examined the IPB using the longitudinal design. Multilevel structural equation modeling (ML-SEM) is conducted in the study to analyze the longitudinal data for examining the changes in the causal effects of the factors influencing the shoppers' IPB over a period of time. Additionally, structural equation modeling (SEM) is conducted to examine changes in the causal effects of the factors influencing IPB at each time point of data collection. Drawing upon the stern's model and stimulus-organism-response model, the study examines the causal effects of the factors influencing the IPB. The results of ML-SEM indicate significant fluctuations in the factors influencing IPB over time. Similarly, the results of SEM indicates that few factors (like store ambience and salesperson interactions) have shown a significant influence on IPB in the initial time points (i.e., during the initial store visits of shoppers), but became insignificant over a period of time in their subsequent store visits. The findings suggest that the store crowd, secondary customers influence, and in-store promotions show a significant influence on the IPB, compared to the store ambience and salesperson interactions. 相似文献
7.
8.
This research assesses visitor satisfaction with the core and secondary attributes of a tourist destination, using two conventional methods, stated and derived importance. The article shows the importance of core attributes are recoverable equally well, regardless of the method. Importance of secondary attributes, however, vary depending on the estimation method. This difference is systematic. Researchers should use derived methods for assessing satisfaction with secondary attributes. The data are from surveys from visitors to Latin America. 相似文献
9.
《Asia-Pacific Journal of Financial Studies》2017,46(1):7-31
While the US has experienced a 50% decline in the number of publicly listed corporations since the late 1990s, there has been an 800% increase in the Asia‐Pacific region. Notwithstanding these divergent paths, there are strikingly similar patterns in both regions in the evolution of corporate financial policies. Asia‐Pacific firms invest more in R&D and less in capital expenditures, as do US firms. They have higher cash holdings as a fraction of total assets. Dividends as a fraction of income are lower, the ranks of dividend‐paying firms in the Asia‐Pacific are declining, and, as in the US, share repurchase activity has grown. Concentration ratios of assets, income, cash, and dividends among US firms have risen to the already high levels seen in Asia‐Pacific markets. Changes in corporate financial policies that appear to reveal poorer incentives to invest cannot explain the dramatically different shifts in the landscape for public companies in the US and the Asia‐Pacific region. 相似文献
10.
Anna Bergman Brown;Donal Byard;Jangwon Suh; 《Contemporary Accounting Research》2024,41(2):1186-1215
IPOs and direct listings (DLs) offer two different mechanisms for firms to go public. In contrast to IPOs, DLs do not employ an underwriter or raise new capital. Using a sample of IPOs and DLs on major stock markets in the European Union, we document that firms that choose to go public via DLs are larger, more profitable, and less levered, on average, than IPO firms. These pre-listing differences suggest that DL firms should be less risky than IPO firms; however, controlling for this selection effect, we find that DLs have higher aftermarket price volatility than IPOs. This is consistent with some policy-makers' concerns that, because they lack an underwriter, DLs expose investors to higher risk than IPOs in the immediate post-listing period. We show that this heightened price volatility persists, on average, for the first 20 trading days after listings, and is larger in industries where listed peer firms provide relatively low-quality disclosures. Our results provide new evidence regarding the types of firms that choose to list via DLs versus IPOs and the riskiness of IPOs versus DLs in the immediate post-listing period; additionally, our results are consistent with underwriters improving the quality of information available to investors for IPO firms in the pre-listing period. 相似文献