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Gruppenvergleiche bei hypothetischen Konstrukten: Die Prüfung der Übereinstimmung von Messmodellen mit der Strukturgleichungsmethodik

Temme, Dirk; Hildebrandt, Lutz - 2008

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...

Persistent link: https://www.econbiz.de/10010263736

Nonlinear modeling of target leverage with latent determinant variables: New evidence on the trade-off theory

Sabiwalsky, Ralf - 2008

The trade-off theory on capital structure is tested by modelling the capital structure target as the solution to a … determinants. In contrast, the framework applied here allows for a direct test: results confirm the trade-off theory for small and …

Persistent link: https://www.econbiz.de/10010263749

Winners and losers of early elections: On the welfare implications of political blockades and early elections

Bierbrauer, Felix; Mechtenberg, Lydia - 2008

We develop a dynamic model of political competition. Each party has a policymotivated ideological wing and an office-motivated opportunistic wing. A blockade arises if inner-party conflict stops policy implementation. We use this model to study whether early elections should be used to overcome...

Persistent link: https://www.econbiz.de/10010263756

Pricing Bermudan options using regression: Optimal rates of convergence for lower estimates

Belomestny, Denis - 2009

The problem of pricing Bermudan options using Monte Carlo and a nonparametric regression is considered. We derive optimal nonasymptotic bounds for a lower biased estimate based on the suboptimal stopping rule constructed using some estimates of continuation values. These estimates may be of...

Persistent link: https://www.econbiz.de/10010263766

Governance: Who controls matters

Deffains, Bruno; Demougin, Dominique M. - 2006

approaches on the theory of the firm and discuss implications for governance, namely; nexus of contracts / agency theory …

Persistent link: https://www.econbiz.de/10010273761

Are correlations constant over time? Application of the CC-TRIGt-test to return series from different asset classes

Fischer, Matthias J. - 2007

A new test for constant correlation is proposed. Based on the bivariate Student-t distribution, this test is derived as Lagrange multiplier (LM) test. Whereas most of the traditional tests (e.g. Jennrich, 1970, Tang, 1995 and Goetzmann, Li & Rouwenhorst, 2005) specify the unknown correlations as...

Persistent link: https://www.econbiz.de/10010273762

From animal baits to investors' preference: Estimating and demixing of the weight function in semiparametric models for biased samples

Ritov, Ya'acov; Härdle, Wolfgang Karl - 2007

We consider two semiparametric models for the weight function in a bias sample model. The object of our interest parametrizes the weight function, and it is either Euclidean or non Euclidean. One of the models discussed in this paper is motivated by the estimation the mixing distribution of...

Persistent link: https://www.econbiz.de/10010274127

Yxilon: A client-server based statistical environment

Härdle, Wolfgang Karl; Klinke, Sigbert; Ziegenhagen, Uwe - 2007

Along with many others, we agree that a modern education in statistics needs to incorporate the practical analysis of real datasets, which are usually more complex than the common examples found in standard textbooks. The software used in the teaching of statistics includes standard spreadsheet...

Persistent link: https://www.econbiz.de/10010274131

De copulis non est disputandum - Copulae: An overview

Härdle, Wolfgang Karl; Okhrin, Ostap - 2009

and dynamic Value-at-Risk of portfolio returns and Profit-and-Loss function. In our findings copula based multivariate …

Persistent link: https://www.econbiz.de/10010274191

Bayesian demographic modeling and forecasting: An application to U.S. mortality

Reichmuth, Wolfgang H.; Sarferaz, Samad - 2008

approach we are able to asses uncertainty intuitively by constructing error bands for the forecasts. We observe that in … particular parameter uncertainty is important for long-run forecasts. This implies that hitherto existing forecasting methods …, which ignore certain sources of uncertainty, may yield misleadingly sure predictions. To test the forecast ability of our …

Persistent link: https://www.econbiz.de/10010276366