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Sökning: hsv:(SAMHÄLLSVETENSKAP) > Heshmati Almas > (2020)

  • Resultat 11-17 av 17
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11.
  • Sarkhosh-Sara, Ali, et al. (författare)
  • Assessing the sustainability of high-, middle-, and low-income countries : A network DEA model in the presence of both zero data and undesirable outputs
  • 2020
  • Ingår i: Sustainable Production and Consumption. - : Elsevier. - 2352-5509. ; 21, s. 252-268
  • Tidskriftsartikel (refereegranskat)abstract
    • Sustainability evaluation has been an important topic for politicians and professionals for the last few decades. A data envelopment analysis (DEA) is a popular technique for evaluating the sustainability of decision-making units (DMUs). The traditional DEA models consider a DMU as black-box thus ignoring the interactions among the different processes. This study proposes a new network data envelopment analysis (NDEA) model for evaluating the sustainability of high-, middle-, and low-income countries. The proposed NDEA model allows us to evaluate sustainable production and distribution stages in a unified framework in the presence of both zero data and undesirable outputs. The results of our proposed model show that countries with high and low incomes perform well in the sustainable production stage but have a weak performance in the sustainable distribution stage. In contrast, middle-income countries have weak performance in the sustainable production stage but good performance in the sustainable distribution stage. Finally, to identify countries’ strengths and weaknesses, we also did a sensitivity analysis. Based on the results, the paper proposes solutions for reducing inefficiencies in the sustainable production and distribution stages. 
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14.
  • Tsoy, Lyubov, et al. (författare)
  • Impact of financial crises on the dynamics of capital structure : Evidence from Korean listed companies
  • 2020
  • Ingår i: Singapore Economic Review. - : World Scientific. - 0217-5908.
  • Tidskriftsartikel (refereegranskat)abstract
    • This study examines the impact of the 1997 Asian financial crisis and the 2008 Global economic crisis on the capital structures of Korean non-financial listed companies. Using a panel data covering 1,159 Korean listed non-financial firms from 10 industrial sectors over a 31-year period (1985-2015), this study investigates the patterns of firms' capital structures before and after the crises and identifies their speeds of adjustment toward the optimal leverage. This study finds different effects of the two crises on both capital structures and adjustment speeds. The average debt ratio fell significantly after the 1997 Asian financial crisis. The distance between the optimal and the observed debt ratios shrank after the Asian crisis, while the speed of adjustment increased two-fold. Unlike the Asian financial crisis, the global economic crisis of 2008 had a positive effect on companies' debt ratios and the speeds of adjustments toward the optimal leverage. Our empirical analysis shows that, on average, the Korean non-financial listed companies decreased their debt ratios over the entire period of observation, with the leverage being the highest before the Asian financial crisis and lowest after the global economic crisis. Our results also show that the debt ratios of Korean chaebols were higher than that of non-chaebols. Moreover, we find that the high level of leverage of Korean firms was associated with tangible assets, income variability, size and age of the firm, non-debt tax shield and uniqueness. 
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15.
  • Umulisa, Yvonne (författare)
  • The prospects for the East African Monetary Union : An empirical analysis
  • 2020
  • Doktorsavhandling (övrigt vetenskapligt)abstract
    • This thesis operationalizes the theory of optimum currency areas, which describes the preconditions (criteria) that countries must fulfill prior to forming a monetary union. In light of the different dimensions of the theory that are examined, the empirical findings from the four papers in this thesis seem to favor forming a monetary union among East African Community (EAC) partner states. Hence, the findings are important for EAC policymakers, as they decided to participate in a monetary union by 2024.The first paper uses a gravity model to determine to what extent membership in the EAC has affected intraregional trade. One common argument is that if there is not much trade between EAC member countries, there is no interest in forming a monetary union. The paper implements the fixed effect filter estimator, which uses a two-step approach and has better performance than the standard fixed effect estimator. The empirical findings in this paper show that EAC membership has a positive and significant effect on intra-trade among member countries. The second paper investigates business cycle synchronization and core-periphery patterns. Greater synchronization is needed for an easy transition towards monetary union. Unlike previous studies, this paper uses wavelet decomposition, a powerful tool for analyzing the comovement of business cycles. It is found that business cycle synchronization is more significant for Kenya, Tanzania, and Uganda, the countries that also form the core of the East African Monetary Union.The link between business cycle synchronization and trade intensity among EAC countries is established in the third paper. This analysis is relevant, as it is associated with the hypothesis of the endogeneity of the optimum currency area criteria, whereby a monetary union among member countries is predicted to increase trade among them, which, in turn, may lead to more synchronized business cycles. The empirical findings show that trade intensity among the considered countries has indeed led to more synchronized business cycles, suggesting that monetary union among EAC countries may be beneficial.Moreover, the fourth and last paper uses a similarity index and a rank correlation measure, Kendall’s tau, to investigate the movement of inflation rates among EAC countries. The results show that changes in inflation have become more similar over time and that there are high correlations between EAC countries. This paper also investigates the convergence in inflation rate levels among the EAC countries. It is found that these levels have tendency to converge. These findings favor the formation of a monetary union among these countries.
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16.
  • Yoon, Haeyeon, et al. (författare)
  • Do environmental regulations effect FDI decisions? The pollution haven hypothesis revisited
  • 2020
  • Ingår i: Science and Public Policy. - : Oxford University Press. - 0302-3427 .- 1471-5430.
  • Tidskriftsartikel (refereegranskat)abstract
    • This study attempts to verify the pollution haven hypothesis by investigating the impact of environmental regulations on foreign direct investment (FDI). It uses Korean outward FDI data covering the manufacturing sector for the period 2009–15. This study not only considers the stringency when measuring the degree of the host country’s environmental regulations but also the enforcement of these environmental regulations. Since the pollution haven’s effects indicate moving the polluting production stages from the home country to other (host) countries, we differentiate between investments in the ‘production’ part from those in the non-production part using location information about the host country. The main results of a FDI’s model estimation show that the stricter the regulations in host countries in Asia, the lower the FDI both intensively and extensively in these countries. This supports the prevalence of the effects of a pollution haven. However, before we separate FDI into the production and non-production parts, the effects of environmental regulations on FDI are hindered by FDI in the non-production part. The results indicate that while environmental regulations are determinants of FDI in the production part, they do not have a significant effect on FDI decisions when the entire FDI is considered.
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17.
  • Zheng, X., et al. (författare)
  • An analysis of energy use efficiency in China by applying stochastic frontier panel data models
  • 2020
  • Ingår i: Energies. - : MDPI. - 1996-1073 .- 1996-1073. ; 13:8
  • Tidskriftsartikel (refereegranskat)abstract
    • This paper investigates energy use efficiency at the province level in China using the stochastic frontier panel data model approach. The stochastic frontier model is a parametric model which allows for the modeling of the relationship between energy use and its determinants using different control variables. The main control variables in this paper are energy policy and environmental and regulatory variables. This paper uses province level data from all provinces in China for the period 2010-2017. Three different models are estimated accounting for the panel nature of the data; province-specific heterogeneity and province-specific energy inefficiency effects are separated. The models differ because of their underlying assumptions, but they also complement each other. The paper also explains the degree of inefficiency in energy use by its possible determinants, including those related to the public energy policy and environmental regulations. This research supplements existing research from the perspective of energy policy and regional heterogeneity. The paper identifies potential areas for improving energy efficiency in the western and northeastern regions of China. Its findings provide new empirical evidence for estimating and evaluating China's energy efficiency and a transition to cleaner energy sources and production. 
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