Interaction and marginal effects are often an important concern, especially when variables are allowed to interact in a nonlinear model. In a linear model, the interaction term, representing the interaction effect, is the impact of a variable on the marginal effect of another variable. In a nonlinear model, however, the marginal effect of the interaction term is different from the interaction effect. This report provides a general derivation of both effects in a nonlinear model and a linear model to clearly illustrate the difference. These differences are then demonstrated with empirical data. The empirical study shows that the corrected interaction effect in an ordered logit or probit model is substantially different from the incorrect interaction effect produced by the margins command in Stata. Based on the correct formulas, this report verifies that the interaction effect is not the same as the marginal effect of the interaction term. Moreover, we must be careful when interpreting the nonlinear models with interaction terms in Stata or any other statistical software package. / text

Due to enormous growth rates during the last couple of years CarSharing has become an interesting field of research. This Master Thesis focuses on the analysis of CarSharing users. For this purpose more than 37.000 participants of the "Große SrV-Vergleichsstädte"-Survey were taken into account. After a short literature review and some general information about the statistical methods, the thesis tries to work out some major characteristics of the typical CarSharing user. It will be shown, that a high income and a young age are of central importance. Also when analysing other variables different user quotas are observed, but can mostly be explained with different age or income levels. At the end a binary logit model is sugested to differ between users and non users, by using the previous analysed observed characteristics as input.

No description available.

Parasite control is important to horse health and horse owners should feel highly concerned about the proper treatment of parasites. In the past 30 years, veterinary science has made important advances in treating parasites and provided new products and strategies to optimize treatment and prevention. However, horse owners and managers have been slow to adopt these new recommendations. This study investigates why the transition has not occurred as expected. It examines issues related to the decision-making process of horse owners and managers as they relate to deworming strategies. In addition, it investigates current deworming approaches as well as attitudes towards alternative parasite control strategies, and tries to describe the financial considerations corresponding to each strategy. To this end, a questionnaire was distributed to Thoroughbred farms in Kentucky. The first part of the questionnaire examined the actual approaches of farm managers and characterized the Kentucky Thoroughbred farms. Most farm managers appear to be concerned about drug resistance in parasites and incorporated veterinarian advice in defining their deworming program; however, almost three-quarters of them were still following the traditional rotational deworming program. Based on a conjoint experiment, we were able to evaluate the willingness-to-pay of farm managers for different attributes of a deworming strategy – time and effort spent, decrease in health risks, drug resistance in parasites, and price. The study showed that farm managers were willing to pay a premium for a strategy that is guaranteed “non-resistant” and that decreased health risk by 5%, while they expected a discount for a strategy that requires much time and effort.

We analyze empirically the role played by energy inflation as a determinant of downward corrections in house prices. Using a dataset for 18 OECD economies spanning the last four decades, we identify periods of downward house price adjustment and estimate conditional logit models to measure the effect of energy inflation on the probability of these house price corrections after controlling for other relevant macroeconomic variables. Our results give strong evidence that increases in energy price inflation raise the probability of such corrective periods taking place. This phenomenon could be explained by various channels: through the adverse effects of energy prices on economic activity and income reducing the demand for housing; through the particular impact on construction and operation costs and their effects on the supply and demand of housing; through the reaction of monetary policy on inflation withdrawing liquidity and further reducing demand; through improving attractiveness of commodity versus housing investment on asset markets; or through a lagging impact of common factors on both variables, such as economic growth. Our results contribute to the understanding of the pass-through of oil price shocks to financial markets and imply that energy price inflation should serve as a leading indicator for the analysis of macro-financial risks. (authors' abstract)

Fethiye-G&ouml / cek area is one of the nine coastal Specially Protected Area (SPA) in Turkey. Since mid-80&rsquo / s G&ouml / cek town has developed to be a yachting center, and the bays of G&ouml / cek have acquired a well-earned international fame as a paradise for boating vacations. However, the uncontrolled yachting in this bay area presents a growing pressure on the environment, and the coastal and marine ecosystem. In this thesis a computer model for simulating the movements of yachts in G&ouml / cek Bays is developed. The computer model uses the Multinomial Logit Model (MNL) to find the probabilities for the boaters to select the next bay to visit. The model predicts the number of boats in each bay at the end of a day, the number of boats visited each bay during the day and the distribution of boater categories among the bays throughout the simulation time. In order to get the data needed for the inputs, a questionnaire was formed, and a detailed survey was carried out in G&ouml / cek Bays. In addition to the questionnaires, the number of the boats anchored were also observed in the field studies. The model is applied to the G&ouml / cek Bays and the results obtained are compared with the data obtained in the field. In the following years, the yacht movements and distributions at various anchor locations can be predicted with this model. These predictions will be useful in a future management plan that aims to control of yacht movement and anchoring.

No description available.

L'objet de cette thèse est de mener une étude empirique sur le redressement des entreprises en difficultés en France. Dans un premier temps, nous utilisons une base de données originale construite à partir de dossiers de redressement ouverts au tribunal de commerce de Paris pour identifier les déterminants de l'issue de la procédure de réorganisation (continuation versus cession). Les résultats empiriques indiquent que la rentabilité de l'entreprise augmente la probabilité de continuation alors que la taille des actifs, le montant des créances privilégiées par rapport au montant des actifs et la proportion des actifs tangibles augmentent la probabilité d'une cession. Nous trouvons également que certaines causes de défaut influencent significativement l'issue de la procédure. Dans un deuxième temps, nous examinons la performance des entreprises réorganisées et ses déterminants. Premièrement, nous nous intéressons à l'exécution des plans de redressement. Nous montrons que la probabilité de succès d'un plan augmente avec l'âge de l'entreprise, la concentration des créances bancaires, le pourcentage du premier versement et la rentabilité du secteur d'activités. Deuxièmement, nous utilisons des mesures comptables pour évaluer la performance. En particulier, les résultats montrent que la taille des actifs de l'entreprise et sa rentabilité durant l'année de confirmation augmentent la probabilité qu'elle reste active pendant au moins quatre ans après la confirmation. Troisièmement, nous examinons la survie des entreprises réorganisées. Le modèle Cox estimé avec des variables dépendantes montre que la rentabilité de l'entreprise, sa liquidité et la rentabilité du secteur on un impact positif sur la survie alors que l'endettement a un effet de seuil négatif. / This thesis provides an empirical analysis of the reorganization of bankrupt firms in the French context. On the one hand, we use an original data set from the commercial Court of Paris to study the particularity of the French bankruptcy law which consists in providing bankrupt firms with two forms of reorganization (continuation versus sale). Empirical results indicate that the probability of confirming a continuation plan increases with the firm's profitability and the fraction of intangible assets while it decreases with the size of the firm and the amount of secured debt relative to assets. Moreover, some causes of default have a significant impact on the reorganization form. On the other hand, we investigate the performance of the reorganized firms according to three criteria. First, we examine the consummation of the reorganization plans. We find that the age of the firm, the percentage of the plan's first payout, the relative size of banking claims, and the firms' industry profitability increase the probability of plans' consummation. Second, we assess accounting measures of performance prior to filing and following confirmation. In particular, logistic results show that larger firms with higher profitability and operating in profitable industries at the confirmation year are most likely to continue their operations for at least four years following confirmation. Third, we investigate the future prospects of reorganized firms using survival analysis techniques. The estimation of time-varying Cox model indicates that company's profitability, liquidity, and the industry profitability have positive effect on survival while leverage has a negative threshold effect.

Um dos desafios da educação brasileira é a grande quantidade de jovens que deveriam estar matriculados no Ensino Médio, mas que não estão frequentando a escola. Além disso, a taxa de abandono escolar nos anos iniciais do ensino médio é muito superior àquela encontrada no último ano do ensino fundamental. Nesse sentido, esse trabalho se propõe a investigar qual o papel da família no processo de transição e permanência no ensino médio. Para tanto, devido a disponibilidade de dados, será investigada uma coorte de alunos aprovados em 2010 no 9° ano do Ensino Fundamental no Estado do Ceará. Será estimado um sequential logit model, cujos regressores serão, além de algumas características individuais, informações referentes ao status socioeconômico da família e ao ambiente familiar. Existe uma vasta literatura que vem se desenvolvendo desde Mare (1980) buscando compreender o papel do background familiar na desigualdade educacional, tratando o processo de escolarização como uma sequência de decisões. Os resultados aqui encontrados, além de dialogar com essa literatura, apontam que a família é determinante, tanto para a entrada, como para a permanência no ensino médio, principalmente por meio da escolaridade dos pais. Esse efeito, todavia, é maior para aqueles que se defrontam com a decisão de entrada no ensino médio fora da idade ideal ou que exercem atividade remunerada quando não estão na escola. / One of the challenges of Brazilian education is the large amount of young people who should be enrolled in high school, but who are not attending school. In addition, the drop-out rate in the early high school years is much higher than that found in the last grade of elementary school. Thus, this study aims to investigate the role of the family in transition and permanence in high school. Therefore, due to data availability, a cohort of students approved in 2010 in the last grade of elementary school in the state of Ceará will be investigated. Will be estimated to sequential logit model, whose covariates are, individual characteristics, information regarding socioeconomic status of the family and the family environment. There is a vast literature, that has been developing since Mare (1980), trying to understand the role of family background on educational inequality, treating the educational process as a sequence of decisions. The results found here, as well as dialogue with the literature, show that the family is crucial both for entry and for staying in high school, mainly through parental education. This effect, however, is higher for those who are faced with the decision to enter high school outside the ideal age or to engage in paid work when they are not in school.

Este trabalho procurou avaliar as correlações existentes entre as características dos docentes, da escola, dos diretores, além da percepção dos professores e do diretor, e da conjuntura econômica sobre a decisão do professor de abandonar a rede pública estadual paulista. Os resultados indicam que as características dos docentes exercem uma forte influência sobre a decisão destes de evadir. Em relação às características da escola, tanto para o PEB I quanto para o PEB II o número de matrículas foi estatisticamente significantes para explicar a evasão, assim como, a experiência do diretor. Apenas para o PEB II o resultado da escola no Saresp foi relevante, a característica familiar dos alunos diferiu no seu comportamento entre os modelos. As variáveis de percepção também apresentaram significância em alguns dos quesitos analisados. Desta forma, conclui-se, neste estudo, que diferentes aspectos intervêm na decisão do docente de permanecer na rede e, ainda que com alguns resultados contraditórios, o ambiente de trabalho parece ser um fator relevante nesta decisão / This study aimed to evaluate the correlation between the characteristics of teachers, school, directors, the perception of teachers and the director, and the economic environment on the decision of the teacher to abandon the São Paulo State public schools. The results indicate that the characteristics of teachers has a strong influence on the dropout decision. In relation to the characteristics of the school, its enrollment number and principal experience were statistically significant to explain the teacher\'s dropout. Only for those teachers who attends students from 5th grade or more, the performance of students in the SARESP test was important. In addition the family background was also important, but with different results according to types of teachers. In some dimensions, the perception of the Director and of the teachers also was significant. So we conclude that different variables influence the dropout decision of teachers. The characteristics of the teachers itself, as well as characteristics of the school can explain why teachers get out their Jobs in the São Paulo state schools