The generalized normal-Laplace distribution is a useful law for modelling asymmetric data exhibiting excess kurtosis. Goodness-of-fit tests for this distribution are constructed which utilize the corresponding moment generating function, and its empirical counterpart. The consistency and other...

The present paper extents the existing literature providing a theoretically consistent framework for measuring input-specific technical efficiency in damage control inputs within a stochastic production frontier model. The theoretical framework for modeling damage control agents is based on Fox...

This paper presents a procedure for measuring technical and allocative inefficiency in an input distance function framework. The procedure involves solving a system of equations to compute the unobserved cost minimizing input vector that is used to compute the cost of allocative inefficiency....

This paper addresses the issue of ownership structure and corporate performance. It employs a sample of 107 internationally listed shipping firms (about 60% of the total) and examines their financial data and ownership concentration for the year 2009. Ownership is treated as an endogenous...

Based on practices and legislation in the shipping industry, we construct a corporate social responsibility (CSR) disclosure index for listed shipping companies. We use Markov Chain Monte Carlo (MCMC) techniques for Bayesian inference, and we estimate the marginal effects of firm characteristics...

In this paper we consider a variety of procedures for numerical statistical inference in the family of univariate and multivariate stable distributions. In connection with univariate distributions (i) we provide approximations by finite location-scale mixtures and (ii) versions of approximate...

In this paper we reconsider the formal estimation of the risk of financial intermediaries. Risk is modeled as the variability of the profit function of a representative intermediary, here bank, as formally considered in finance theory. In turn, banking theory suggests that risk is determined...

This article investigates the business cycles of Eurozone economies. We detect static and dynamic relationships between cyclical components of output, arising through the use of different filtering methods. This is achieved using for the first, correlations, and for the second, the...

This article investigates the stylized facts of money and credit over the business cycles in nine Organization for Economic Cooperation and Development (OECD) countries using quarterly data from 1960 to 2006, through the application of two main detrending methods. Our findings confirm the...

The paper takes up inference in the stochastic frontier model with gamma distributed inefficiency terms, without restricting the gamma distribution to known integer values of its shape parameter (the Erlang form). The paper shows that Gibbs sampling with data augmentation can be used in a...