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The Effect of Macroeconomic Factors on Asset Returns: A Comparative Analysis of the German and the Turkish Stock Markets in an APT Framework

Altay, Erdinc - EconWPA - 2003

This paper uses factor analytic techniques for deriving factor realizations from a group of main economic indicators of both the German and the Turkish economy in order to test the effect of economic factors on asset returns in an APT framework. The factor structure of the German economy yields...

Persistent link: https://www.econbiz.de/10005076970

Derivation of Theory by Means of Factor Analysis or Tom Swift and His Electric Factor Analysis Machine

Armstrong, J.S. - EconWPA - 2005

Problems in the use of factor analysis for deriving theory are illustrated by means of an example in which the underlying factors are known. The actual underlying model is simple and it provides a perfect explanation of the data. While the factor analysis 'explains' a large proportion of the...

Persistent link: https://www.econbiz.de/10005062667

On the Interpretation of Factor Analysis

Armstrong, J.S. - EconWPA - 2005

The importance of the researcher^Rs interpretation of factor analysis is illustrated by means of an example. The results from this example appear to be meaningful and easily interpreted. The example omits any measure of reliability or validity. If a measure of reliability had been included, it...

Persistent link: https://www.econbiz.de/10005408117

Indicators of financial crises do work! An early-warning system for six Asian countries

Lestano; Jacobs, Jan; Kuper, Gerard H. - EconWPA - 2004

Indicators of financial crisis generally do not have a good track record. This paper presents an early warning system for six countries in Asia, in which indicators do work.We distinguish three types of financial crises, currency crises, banking crises and debt crises, and extract four groups of...

Persistent link: https://www.econbiz.de/10005408159

Which Human Capital Matters for Rich and Poor’s Wages? Evidence from Matched Worker-Firm Data from Tunisia

Muller, Christophe; Nordman, Christophe - EconWPA - 2005

In this paper, we study the return to human capital variables for wages of workers observed in Tunisian matched worker-firm data in 1999. This tells us how returns to human capital in a Less Developed Country like Tunisia differ from the industrial countries usually studied with matched data. We...

Persistent link: https://www.econbiz.de/10005408310

Currency crises in Asia: A multivariate logit approach

Jacobs, Jan P.A.M.; Kuper, Gerard H.; Lestano - EconWPA - 2004

Indicators of financial crisis generally do not have a good track record. This paper presents an early warning system (EWS) for six countries in Asia in which indicators do work. Our binary choice model, which has been estimated for the period 1970:01–2001.12, has the following features. We...

Persistent link: https://www.econbiz.de/10005119432

Indicators of financial crises do work! An early-warning system for six Asian countries

Lestano; Jacobs, Jan; Kuper, Gerard H. - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005119472

The job satisfaction of English academics and their intentions to quit academe

Stevens, Philip - EconWPA - 2005

This paper considers the job satisfaction of academics using a detailed dataset of over two thousand academics from ten … measure of job-satisfaction. Academics appear to be considering three separate sets of elements of their jobs, namely the … elements of job satisfaction on their intentions to leave the sector. …

Persistent link: https://www.econbiz.de/10005125776

Learning in Different Social Contests

Novarese, Marco - EconWPA - 2004

empirically tests the role of satisfaction in the routinization (this is one of the first empirical attempt of this kind). The …

Persistent link: https://www.econbiz.de/10005407620

Preferences, Choices, and Satisfaction in a Bargaining Game

Amborino, Angela; Lanteri, Alessandro; Novarese, Marco - EconWPA - 2005

understanding their satisfaction. These considerations refer to variables traditionally left out of economic analysis, which focuses … instead on the final payoff and not on its relation to preferences or satisfaction, which are deemed non-measurable. On the … contrary, this work has shown that consistent data emerge by simply asking players to express preferences and satisfaction …

Persistent link: https://www.econbiz.de/10005118521