Recent studies have extensively used logit or probit models to examine hypothesis on merger motives and corporate bankruptcy. In this paper we analyze some methodological issues of using binary choice models in this framework and it is proposed an alternative methodology: The Multinomial Logit...

REVISTA SOCIEDAD Y ECONOMIA # 15 :TEMA CENTRAL: Arte, Sociedad y Cultura

This paper obtains a series of aggregate capital stock for the Spanish economy, in which for this calculation, the depreciation average was previously estimated as an additional parameter in a production function. Although the result when including the parameter in a production function is...

The aim of this paper consists mainly of analyzing if the aggregated behaviour ofinvestors in the Spanish capital market corresponds with the risk-return relationshiphypothesized by CAP models. In our country little empirical work has been done usinggrouping of assets in portfolios. Different...

Most of the recent contributions to intertemporal optimization models of consumption and capital accumulation aim at the development of a theory of intertemporal resource allocation under uncertainty. One of the standard tools for solving such models is Stochastic Dynamic Programming.A...