Estimation results obtained by parametric models may be seriously misleading when the model is misspecified or poorly approximates the true model. This study proposes a test that jointly tests the specifications of multiple response probabilities in unordered multinomial choice models. The test...

We develop a new permutation test for inference on a subvector of coefficients in linear models. The test is exact when the regressors and the error terms are independent. Then we show that the test is asymptotically of correct level, consistent, and has power against local alternatives when the...

This paper provides two specification tests for the system of spatial autoregressive model of order m . We derive the theoretical limit distributions and show in a detailed Monte Carlo simulation study that the tests result in reasonable sized testing procedures with large power. In the...

Building on the assumption that intangible and tangible corporate resources are indispensable to create and sustain firm value in today's knowledge-driven economy; this paper empirically examines the determinants and consequences of disruptive innovations in the context of the UK financial...

Idea generation is easy but getting a refined and organized form for that idea is a complex process. This letter outlines the utilization of Faff (2018) pitching research framework for developing a personal original pitch. The pitching research template is intriguing as it helps young...

Research Question- What is the impact of domestic and international uncertainty shocks on the relationship between book value, earnings, and stock price? Motivation- We refer to the prior research on the value relevance of accounting information (Dunham & Grandstaff, 2021) which offers valuable...

The pandemic caused by Covid-19 has severely affected the tourism industry, but it has not equally affected all its segments or all the geographical spaces where it is carried out. Our objective is to determine whether it has caused structural changes in one of the major sun and beach tourist...

Wie bedeutend ist das menschliche Element für die Genauigkeit empirischer Erkenntnisse in den Wirtschaftswissenschaften? Die Unsicherheit empirischer Schätzungen wird üblicherweise als ein statistisches Phänomen betrachtet. Unbekannte Parameter einer Grundgesamtheit werden anhand einer...

This work built on financial literature on rolling window Granger-causality testing (RWGCT) methodology, specifically expanding its early theme of speculative trading which emerged in 2009 following the food price crisis. Although many times driving the commodity prices in reality, the...

This paper examines whether momentum drives the disposition effect and vice versa in the US stock market. The results from the analysis of the Fama-Macbethregressions show that the disposition effect drives momentum but not the other way around. Furthermore, we find that this relationship varies...