计量经济分析 = Econometric analysis

Compare your culture to one of the cultures discussed in this unit. On a sheet of paper, list the cultures you are comparing and make one column titled “similarities,” and a second column titled “differences.” Now, list as many similarities and differences between the two as you can think of. Are there more similarities or differences between the two cultures you selected? Have you ever met anyone from this culture? How can you use this information to build greater respect between cultures?

Similarities and Differences

Regression Analysis of Count Data: Preface

Abstract This paper addresses the question whether voluntary adoption of International Financial Reporting Standards (IFRS) is associated with lower earnings management. Ball et al. (Journal of Accounting and Economics, 36(1–3), pp. 235–270, 2003) argue that adopting high quality standards might be a necessary condition for high quality information, but not necessarily a sufficient one. In Germany, a code-law country with low investor protection rights, a relatively large number of companies have chosen to voluntarily adopt IFRS prior to 2005. We investigate whether German companies that have adopted IFRS engage significantly less in earnings management compared to German companies reporting under German generally accepted accounting principles (GAAP), while controlling for other differences in earnings management incentives. Our sample, consisting of German listed companies, contains 636 firm-year observations relating to the period 1999–2001. Our results suggest that IFRS-adopters do not present different earnings management behavior compared to companies reporting under German GAAP. These findings contribute to the current debate on whether high quality standards are sufficient and effective in countries with weak investor protection rights. They indicate that voluntary adopters of IFRS in Germany cannot be associated with lower earnings management.

Earnings Management underGerman GAAP versus IFRS

This paper studies the determinants of income smoothing by management of loan-loss provisions in banks around the world. Using a panel database of 3221 bank-year observations from 40 countries and controlling for unobservable bank effects and for the endogeneity of explanatory variables, we find that bank income smoothing depends on investor protection, disclosure, regulation and supervision, financial structure, and financial development. Results suggest there is less bank income smoothing not only with the strength of investor protection, but also with the extent of accounting disclosure, restrictions on bank activities, and official and private supervision, while there is more income smoothing with market orientation and development of a country's financial system.

Cross-country determinants of bank income smoothing by managing loan loss provisions

The paper employs the multipurpose nature of mobile telephony to investigate its welfare implications using a large sample of households in Ghana. We use seemingly unrelated probit and instrumental...

Mobile Telephony, Financial Inclusion and Inclusive Growth

This study evaluates the effects of mobile technology on productivity and the channels of transmission of these effects. Using propensity score matching procedures, the results show that mobile pho...

Does the Use of Mobile Phones by Smallholder Maize Farmers Affect Productivity in Ghana

The purpose of the study is to examine the existence of causality between macroeconomic variables and stock returns in Ghana. The study employs monthly time series data spanning the period January 1995 to December 2010. Unit root test is performed using ADF, PP and KPSS tests. Then, Vector Error Correction (VECM) model is used to establish long-run and short-run relationship between stock performance and macroeconomic variables. In order to determine the existence or otherwise of causality, the Granger Causality tests is performed. Impulse response functions and forecast error variance decomposition are used to assess the stability of the relationship between stock returns and macroeconomic variables over time. The study reveals that a significant long run relationship exists between stock returns and inflation, money supply and Foreign Direct Investment (FDI). In the short-run, a significant relationship exists between stock returns and macroeconomic variables such as interest rate, inflation and money supply. In the short-run the relationship between stock returns and FDI is only imaginary. Our VECM coefficient shows that it takes approximately 20 months for the stock market to fully adjust to equilibrium position in case a macroeconomic shock occurs. Lastly, a causal relationship running from inflation and exchange rate to stock returns has been established. Then also, a causal relationship running from stock returns to money supply, interest rate and FDI has also been revealed. The findings imply that arbitrage profit opportunities exist in the Ghana stock market contrary to the dictates of the Efficient Market Hypothesis (EMH). In terms of original value,among the studies

http://www.aessweb.com/pdf-files/aefr%203(8),%201044-1062.pdf

Macroeconomic variables and stock market returns in ghana: any causal link?

Food security has been observed to be severe in northern Ghana than any other area of the country. Though this has been acknowledged, few attempts have been made to curb the situation. One of such intervention areas resides in providing policy-based evidence to guide efforts in fighting this problem. This study employs an ordered probit model using data set from the baseline survey of the USAID’s Feed the Future programme in Ghana to estimate the determinants of food security in northern Ghana. We perform the analysis using a new indicator of food security—the household hunger scale. This measure is different from other household food insecurity indicators since it has been specifically developed and validated for cross-cultural use. The estimates show that crop producers, multiple crop producers, yield and commercialization are key policy variables that determine food security. A key policy implication of this result is in tandem with one of the intermediate results of the Ghana Feed the Future Initiative which seeks to increase competitiveness of food value chains through increased productivity and market access. Based on the results, stakeholders should step up efforts to enhance productivity of farm households and provide necessary market infrastructure to boost commercialization, as these are fundamental to ensuring food security.

/pdf/food-security-in-the-savannah-accelerated-development-3mr378fffk.pdf

Food security in the Savannah Accelerated Development Authority Zone of Ghana: an ordered probit with household hunger scale approach

This study was based on a microeconomic approach of estimating the determinants of financial saving and investment in one of the most deprived district capitals in Ghana, Nadowli in the Nadowli District of the Upper West Region. Two separate multiple linear regression models were fitted for saving and investment. The Paper found that there is the propensity to save and invest in Nadowli in spite of low income. Whereas the levels of income, educational status, occupation, have positive influence on saving, the number of dependents exerts a negative influence on saving. The paper found that age composition and assets do not have a significant effect on saving. The factors that drive household investment are occupation, expenditure, assets and saving. Any decision or policy pertaining to finance and development by government, the private sector or financial institutions geared towards improving saving and investment in Nadowli must incorporate these factors.

Haruna Issahaku

Papers

Mobile Telephony, Financial Inclusion and Inclusive Growth

Does the Use of Mobile Phones by Smallholder Maize Farmers Affect Productivity in Ghana

Macroeconomic variables and stock market returns in ghana: any causal link?

Food security in the Savannah Accelerated Development Authority Zone of Ghana: an ordered probit with household hunger scale approach

Determinants of saving and investment in deprived district capitals in ghana -a case study of nadowli in the upper west region of ghana