We provide an operational identification of the complete class of superlative index numbers to track the exact aggregator functions of economic aggregation theory. If an index number is linearly homogeneous and a second order approximation in a formal manner that we define, we prove the index to...

This paper investigates herding behavior and the connection between herding behavior and investor sentiment. We apply a Cross-Sectional Absolute Deviation (CSAD) approach and the quantile regression method to capture herding behavior in the KOSPI and KOSDAQ stock markets. The analysis results...

We provide an operational identification of the complete class of superlative index numbers to track the exact aggregator functions of economic aggregation theory. If an index number is linearly homogeneous and a second order approximation in a formal manner that we define, we prove the index to...

This study aims to examine the energy efficiency of the manufacturing industry of Korea by using the extended Divisia index decomposition of Choi and Ang (2012). First, we applied the Sato–Vartia index decomposition to the energy intensity of the manufacturing industry in Korea. Second, we...

We present a method for decomposing industrial energy demand using the Divisia approach. This method involves decomposition of the aggregate energy-intensity index measured in terms of energy consumption per unit output. The factors considered are changes in production structure and sectoral...