Comparing groups with respect to hypothetical constructs requires that the measurement models are equal across groups. Otherwise conclusions drawn from the observed indicators regarding differences at the latent level (mean differences, differences in the structural relations) might be severly...

Nonparametric techniques are usually seen as a statistic device for data description and exploration, and not as a tool for estimating models with a richer economic structure, which are often required for policy analysis. This paper presents an example where nonparametric flexibility can be...

Due to their well-known indeterminacies, factor models require identifying assumptions to guarantee unique parameter estimates. For Bayesian estimation, these identifying assumptions are usually implemented by imposing constraints on certain model parameters. This strategy, however, may result...

This article evaluates the performance of structural equation models in validating measurement models for hypothetical constructs and deals with specific issues following from the way this methodology is typically applied in scale construction. In particular, controlling for various types of...

The objective of this research is to check if social orientation of citizens firms is undertaking an instrumental approach or intrinsic commitment. Based on a sample composed by most admired firms, we examine - in cross sectional studies and industrial analysis - financial, strategy and social...

It is now an accepted fact that the majority of financial markets worldwide are neither normal nor constant, and South Africa is no exception. One idea that can be used to understand such markets and has been gaining popularity recently is that of regimes and regime-switching models. In this...

Copula functions have become the standard tool in modelling multivariate dependence over the last decade hence there are toolboxes available for simulating and estimating copulas in the major statistical software such as R/S+, SAS and MATLAB. However recent developments in copulas like copula...

This paper provides an approach to estimation and inference for non-linear conditional mean panel data models, in the presence of cross-sectional dependence. We modify the common correlated effects (CCE) correction of Pesaran (2006) to filter out the interactive unobserved multifactor structure....

This study was carried out to analyse the technical efficiency of micro-enterprises in the Nigerian economy, using cross-sectional data collected on micro-enterprises selected from block-making, metal-fabricating and sawmilling enterprises in the three geographical regions (north, southwest and...

This collection of papers analyzes the versatility and predictive power of survey expectations data in asset pricing and macroeconomic forecasting. The first paper, Using Sentiment Surveys to Predict GDP Growth and Stock Returns sheds new light on the question of whether or not sentiment...