We develop in this paper a general econometric methodology referred to as the Simulated Asymptotic Least Squares (SALS). It is shown that this approach provides a unifying theory for 'approximation-based' or simulation-based inference methods and nests the Simulated Nonlinear Least Squares...

We propose and derive the asymptotic distribution of a tapered narrow-band least squares estimator(NBLSE) of the cointegration parameter Atilde;ƒAcirc;ŽAtilde;‚Acirc;² in the framework of fractional cointegration.This tapered estimator is invariant to deterministic polynomial trends. In particular,...

We propose and derive the asymptotic distribution of a tapered narrow-band least squaresestimator (NBLSE) of the cointegration parameter Icirc;² in the framework of fractional cointegration. Thistapered estimator is invariant to deterministic polynomial trends. In particular, we allow for...

Companies invest millions of dollars in various forms of marketing communications to impact customers' awareness, attitudes, purchases and, ultimately, profitability. An important question for marketers and shareholders alike is: what effects do marketing investments have on market performance?...

We question previous research assuming that privatizing firm performance generally benefits from decreasing state ownership and the passage of time, both of which purportedly align principal-agent incentives promoting organizational decision-making that increases shareholder value. When state...

This paper examines the relationship between Foreign Direct Investment (FDI) and the real exchange rate for low-income countries of Sub-Saharan Africa, using a panel data approach and Two-Stage Least Squares (2SLS) method. The results show that while the depreciation of the real exchange rate...

This article presents the role of local governments in supporting entrepreneurship development. The content of the article presents the factors which foster activities undertaken by local authorities to promote entrepreneurship and also shows different considerations of when the supporting...

The present paper explores the possibility of forecasting company liquidity based on testing the coefficient of variability. Secondly, it analyzes static and dynamic liquidity measures to ascertain which are better at prediction in the traditional and technology-based sectors. It was assumed...

One of the significant problems of a modern economy and economics is political risk. A destructive influence of politics on the financial market cannot be ignored. It is necessary to indicate some selected specific problems of the financial market connected with politics in the area of: public...