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Cash dividends and bonus issues in China: development, valuation effects and market efficiencyZheng, Yuchun., 鄭育{22487c}. January 2004 (has links)
published_or_final_version / abstract / toc / Economics and Finance / Doctoral / Doctor of Philosophy
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Energy Consumption and Growth : The case of Sweden for the industry and service sectorPetkova, Aleksandra, Jordeva, Melanija January 2012 (has links)
This paper examines the relationship between energy and economic growth in the case of Sweden. It analyzes the role energy plays in the level of economic activity. The prevailing economic theories focus more on other factors as important for the economic growth. The included statistical data shows that the total energy use in Sweden has declined in the last couple of years. This is mainly as a result of the shift in energy use to higher quality fuels, electricity, optimized production process and machinery, and increased use of renewable energy sources. This paper investigates the connection between total energy use and levels of economic activity in Sweden. Furthermore, it discusses Sweden’s energy policy activities and their economic and environmental implications. Instead of looking at the entire economy, as some earlier papers, the focus is placed on the industrial and service sectors. This gives the possibility to better analyze the implemented energy policies, showing their effectiveness at these sectors. Time series analysis is employed following a four step procedure. First it is the Augmented Dickey-Fuller test performed, followed by the Johansen test and the Vector Error Correction Model (VECM). The results from VECM are interpreted with the help of the Wald test. The results from this four step procedure showed univariate cointegration between Industry`s output and energy consumption and bivariate cointegration between Service`s output and energy consumption. The paper further shows that there is a relation between the types of energy used in the economic sectors and the sectors` productivity levels. This paper also aims to demonstrate the environmental and economic effects from such relation.
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Three essays on expectations and housing price volatilityClayton, Jim 05 1900 (has links)
This thesis contains three empirical essays on the economics of house price dynamics.
The first essay derives a forward-looking rational expectations house price model and
empirically tests its ability to explain short-run fluctuations in real house prices. A novel
approach to proxying imputed rents of owner-occupied housing, as a function of housing
market fundamentals, is derived and combined with a housing market arbitrage relation
to derive a present value model for real house prices. Tests of the rational expectations,
nonlinear cross-equation restrictions reject the joint null hypothesis of rational expectations and the asset-based housing price model for quarterly, single-detached house prices
in the city of Vancouver, British Columbia, over the 1979-1991 sample period. The
model fails to fully capture observed house price dynamics in two real estate booms but
tracks real house prices well in less volatile times, suggesting that prices may temporarily
deviate from fundamental values in real estate market upswings.
The second essay develops and applies a test of the joint null hypothesis of rational
expectations, and no risk premium in the Vancouver condominium apartment market.
The results show that, on average, ex post house price changes move in the opposite
direction than their rational expectation under risk neutrality. This essay also documents
the predictability of excess annual condominium returns using lags of annual returns and
the rent/price ratio, and quarterly returns with short-term nominal interest rates. It
further shows that deviations of house price changes from their (risk neutral) rational
expectation are both stationary and related to the stage of the real estate price cycle.
The third essay examines whether a time-varying housing market risk premium can
explain deviations in house price fluctuations from those predicted by the rational expectations hypothesis under risk neutrality. If homeowners are risk averse and housing
price risk is not completely diversifiable then housing market efficiency implies that re
turns to housing investment should be positively correlated with a premium for bearing
risk. The first part of the essay shows that, in theory, the finding of negative slope co-efficients in tests of unbiased house price expectations under risk neutrality (in chapter
3) is attributable to omitted risk considerations if two conditions are satisfied: (1) the
covariance between the risk premium and expected house price appreciation under risk
neutrality is negative, and; (2) the variance of the risk premium is considerably larger
than the variance of expected appreciation under risk neutrality. The second part of the
essay uses a conditional capital asset pricing model to investigate whether predictable
returns in the Vancouver housing market are time-varying risk premia. The empirical
results are inconclusive.
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Money and the dispersion of relative prices in the drug and apparel industriesArroyo, Jorge M. 12 1900 (has links)
No description available.
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Inventory and price forecasting : evidence from US containerboard industryMarko, Lidia S. 05 1900 (has links)
No description available.
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The Amenity Value of WetlandsGao, Shan 16 December 2013 (has links)
Wetlands provide recreation and cultural values including scenic views,
aesthetics, open-spaces, and leisure opportunities to surrounding residents. This study
applies a hedonic approach to estimate the impact of wetland amenities on nearby single
family homes using actual sales prices of properties from 1991 to 2005 in Chatham
County, Georgia, where wetland resources are unevenly distributed in terms of types and
quantities of wetlands. Separate hedonic models are investigated to understand the spatial
variation of wetland amenity effects across different study areas in Chatham County.
This study finds that wetland amenity values vary mainly with the characteristics
of study location. In a rural setting where wetland resources are ample and sufficient.
Wetland amenities have negative impacts on the sales price of nearby single family
homes. Forested wetlands, the size of the nearest wetland, and wetland proximity
negatively impact the sales price of the properties. In an urban setting where wetland
resources are extremely limited, wetlands have significant positive amenity effects. The
size of the nearest wetland positively impact the sales price of nearby single family
homes, but type of wetlands turns into insignificant. In a suburban area with diverse wetland recourses in term of types of wetlands, mixed amenity effects are found. In
general immediate access to a wetland, especially a large size one, positively impact
nearby single family homes. Type of wetlands plays a key role in deciding the direction
and magnitude of wetland amenity effects in a suburban area. The findings of the study
suggest that policy makers need to think about both the characteristics of wetlands and
their spatial context when providing or protecting wetland amenities.
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An empirical analysis of the pricing behaviour of selected 3-digit sectors in the South African manufacturing industry (1965-1990).Fuzile, Lungisa. January 1996 (has links)
While conventional economic theory posits that price is determined by the interplay between the forces of supply and demand, review of literature reveals that the findings of industrial surveys and empirical studies of the pricing behaviour of firms have cast doubts on the validity of this hypothesis.
A close scrutiny of the literature shows that there are two main hypotheses of pricing, namely, the excess demand hypothesis and the mark-up hypothesis. The former is associated with the conventional view that price is determined by the interaction of demand and supply, while the latter hypothesis is often associated with business practice in the real world. A majority of empirical studies lends support to the mark-up hypothesis. However, there is also a sizable number of studies that lend support to the excess demand hypothesis. This study uses data for the South African manufacturing sector to test the validity and the explanatory power of these hypotheses. The difference between this study and most of the previous studies is the fact that in the present study an attempt is made to use disaggregated data in the actual testing of the hypotheses. While the results of this study demonstrate overwhelming support for the mark-up hypothesis, they also demonstrate that the role played by demand can not be dismissed. / Thesis (M.Comm.)-University of Natal, Pietermaritzburg, 1996.
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The UK closed-end fund discountPaluello, Carolina Minio January 1998 (has links)
No description available.
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The influence of interim earnings announcements on investor decisions as reflected in ordinary share prices in the United KingdomMaingot, M. M. January 1981 (has links)
No description available.
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A study of futures and cash prices of beef cattle : relating theory to fact for a nonstorable commodityBlank, Steven Charles January 1980 (has links)
Photocopy of typescript. / Thesis (Ph. D.)--University of Hawaii at Manoa, 1980. / Bibliography: leaves [127]-129. / Microfiche. / viii, 129 leaves, bound 28 cm
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