Economics, Management, and Financial Markets最新文献_第10页

Is Monetary Policy Symmetrical in Its Effect on Sectoral Output 货币政策对部门产出的影响是对称的吗

Economics, Management, and Financial Markets Pub Date : 2018-03-01 DOI: 10.22381/emfm13120181

S. Singh, D. Rao

引用次数: 9

STUDENT UNREST: CULTURAL MARXIST UNDERPINNINGS AND ADMINISTRATIVE SUPPORT 学生骚乱:马克思主义的文化基础和行政支持

Economics, Management, and Financial Markets Pub Date : 2018-03-01 DOI: 10.22381/emfm13120183

W. Block

引用次数: 2

Merger and Acquisition Pricing Using Agent Based Modelling 基于Agent模型的并购定价

Economics, Management, and Financial Markets Pub Date : 2018-03-01 DOI: 10.22381/emfm13120184

N. Agarwal, P. Kwan, David Paul

{"title":"Merger and Acquisition Pricing Using Agent Based Modelling","authors":"N. Agarwal, P. Kwan, David Paul","doi":"10.22381/emfm13120184","DOIUrl":"https://doi.org/10.22381/emfm13120184","url":null,"abstract":"Merger & Acquisition pricing utilises traditional financial models like Discount Cash flow analysis and industry multiples. These methods do not consider behaviour finance biases, for example, prospect theory (Kahneman and Tversky 1979). This paper analyses merger & acquisition pricing using behavioural bias of risk aversion (acquiring company behavioural trait) and optimism (target company trait). It then extends the study to include loss aversion from prospect theory, differences in the way humans view gains and losses based on low or high probability based on cumulative prospect theory, and finally the certainty effect (where humans prefer certain outcome to probabilistic outcomes). All these factors have an impact on merger & acquisition pricing for potential deals as acquiring and target companies behave differently and such impacts are not considered by traditional finance models. Results show that as loss aversion reduces, the positive impact of risk taking and optimism behaviours improve. Also, probabilistic gains and losses can have a positive impact, but certainty has the greatest impact. Humans prefer certain outcomes and acquirers and target company behaviours are more effective in such conditions with increasing utility for both parties under such circumstances. However, in the multiple acquirer setting, competition between the acquirer significantly increases the utility, and the loss aversion co-efficient works in the opposite direction as the perceptive difference between gains and losses decreases.","PeriodicalId":37224,"journal":{"name":"Economics, Management, and Financial Markets","volume":"13 1","pages":"84"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46471542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

The Economics of Criminal Deportation 刑事驱逐的经济学

Economics, Management, and Financial Markets Pub Date : 2017-12-01 DOI: 10.22381/emfm12420174

Anca-Iulia Stoian, M. Drumea

引用次数: 0

Comparing Financial Systems around the World: Capital Markets, Legal Systems, and Governance Regimes 比较世界各地的金融体系:资本市场、法律体系和治理制度

Economics, Management, and Financial Markets Pub Date : 2017-12-01 DOI: 10.22381/emfm12420172

Félix Zogning

引用次数: 12

The Imf's Financial Programming, Financialization, and Stagnant Corporate Investment in Korea after the Asian Financial Crisis 国际货币基金组织的金融规划、金融化和韩国企业投资停滞

Economics, Management, and Financial Markets Pub Date : 2017-12-01 DOI: 10.22381/emfm12420171

Hee-Young Shin

引用次数: 8

Volatility in Agricultural Commodity and Oil Markets during Times of Crises 危机时期农产品和石油市场的波动

Economics, Management, and Financial Markets Pub Date : 2017-12-01 DOI: 10.22381/emfm12420173

Lucía Morales, B. Andréosso‐O'callaghan

引用次数: 6

Through a Glass Darkly: The Political Foundations of Sustainable European Monetary Union 透过黑暗的玻璃:可持续的欧洲货币联盟的政治基础

Economics, Management, and Financial Markets Pub Date : 2017-09-01 DOI: 10.22381/emfm12320175

G. Popescu, Cristina Alpopi, Mihaela Comănescu, F. Ciurlău

{"title":"Through a Glass Darkly: The Political Foundations of Sustainable European Monetary Union","authors":"G. Popescu, Cristina Alpopi, Mihaela Comănescu, F. Ciurlău","doi":"10.22381/emfm12320175","DOIUrl":"https://doi.org/10.22381/emfm12320175","url":null,"abstract":"1.IntroductionEuropean Economic and Monetary Union (EMU)'s core countries adopted the single currency with their national collective-bargaining entities, which assigned agenda-setting and veto capacities to wage-setters in their export spheres. Labor market politics (Mihăilă and Mateescu, 2017) in the EMU's southern countries, because of their more combative and disunited character, have not been beneficial with regard to wage moderation and low inflation. With higher inflation rates, southern countries swiftly lost effectiveness in their real exchange rates, generating the constant and unsustainable increase of current account deficits compared with the North and the demand for global financing to cover their deficits. (Johnston, 2016)2.Financial and Monetary Stability throughout the Euro ZoneThe monetary union necessitates regulation and substantial cohesion among the members as illustrated by the strategies for \"banking union\" and \"fiscal union\" that call for significant political integration by consolidating the entities for democratic harmony and responsibility. The economic advance of the euro zone requires identifying a superior economic stability among the members (Popescu, 2016), wherein creditor economies employ the space applicable to them to maintain economic growth. Adjustment should be more balanced throughout the euro zone. Governments' choices on design, allocation, and resourcing (Pera, 2017a) of the entities set up the background for interinstitutional partnership. Adequate action with respect to the entities was hostage to the resolutions of the member economies that favored them. (Henning, 2017)3.Did Europe's Monetary Union Advantage Its Low-inflation Performers?The growing discrepancies between EMU's northern and southern countries that assisted in accelerating crisis exposure (Nica et al., 2016) within the latter may be grasped by how EMU brought about an asymmetrical arena between economies with wage-setting entities (Nica, 2017) adjusted to low inflation and ones lacking them. Within domestic labor markets, the supply of low national inflation via controlled wage growth is conditional on power dynamics between discordant sectoral concerns. The sheltered sphere's ineffectiveness in supplying wage moderation impacts inflation (Popescu and Bitoiu, 2017) and, via the real exchange rate, global price competitiveness. Inflation-averse central banks multiplied the economic penalties related to substantial wage agreements in sheltered spheres. The transfer of inflated wages onto prices should be neutralized by central banks through monetary tightening with the aim of curbing inflation developments. (Johnston, 2016) (Figures 1-4)4.How Monetary Union Altered Inflation Dynamics in Its Member-statesThe Greek fiscal position, the outcome of a patronage-based political system that cut down tax revenue and increased public spending, generated the euro crisis. …","PeriodicalId":37224,"journal":{"name":"Economics, Management, and Financial Markets","volume":"12 1","pages":"70"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41491808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Government Effectiveness in Controlling Corruption: What's New? 政府在控制腐败方面的有效性：有什么新的？

Economics, Management, and Financial Markets Pub Date : 2017-09-01 DOI: 10.22381/emfm12320176

Luminița Ionescu

{"title":"Government Effectiveness in Controlling Corruption: What's New?","authors":"Luminița Ionescu","doi":"10.22381/emfm12320176","DOIUrl":"https://doi.org/10.22381/emfm12320176","url":null,"abstract":"1.IntroductionEconomics is an effective tool for the investigation of corruption. Societies vary in the manner they construe and convey egocentricity. Endemic corruption implies a persistent deficiency (Fabre, 2017) in tapping egotism for well-founded and productive aims. The exemplary case for the social value of egotism is the conventional competitive market where self-centeredness is transposed into productive undertakings (Popescu and Ciurlău, 2016) that generate efficient resource utilization. The vilest case is war, i.e. a pernicious conflict over prosperity that culminates in devastating the resource base that activated the dispute originally. Public sector corruption weakens developmental and distributional objectives and is incompatible with democratic and republican values. (Rose-Ackerman and Palifka, 2016)2.The Institutional Economics of Public Sector Reform and CorruptionAn anemic or oppressive state stimulates corruption: the degree of corruption makes reform problematic and subverts public confidence in government entities, generating a chain reaction. A significant degree of corruption signals that something is wrong (Ionescu, 2016a) with the state's core entities and determinants, indicating a commitment to structural reform. Assessment should clarify how corruption functions in certain domains and to determine how it weakens public policies. Reform schemes may buckle down corruption where it has the most unfavorable consequences and where marginal benefits are significant relative to marginal expenses. Corruption takes place at the junction of situation-specific determinants, society-wide entities, and personal ethics. The consequences of corruption impact governmental cohesion and the cogency of government spending. In appraising regulatory corruption, the essential parameters are the features of the legal regime (Nica, 2016a) and the strength of the bureaucracy. An economy may be maintained in a corruption stratagem where corruption intensifies and hinders proper business investment. Corruption confines growth and suppresses confidence in government, whereas low growth and skepticism of the state invigorate and substantiate corruption. On the contrary, low corruption facilitates growth, and significant growth generates a societal demand (Popescu et al., 2016) to curtail corruption even further. Corruption may give rise to disorganizations and imbalances, being inferior to legally constituted payment schemes. Reforms may cut down the determinants for bribery and raise the risks of involving in corruption, the objective being an enhancement in the long-term efficiency, integrity, and validity of the state. The price mechanism may, as bribery, destabilize the authority and performance of government. (Rose-Ackerman and Palifka, 2016)3.The Impact of Corruption onthe Link between Government Spending and Economic GrowthCorruption is likely to generate lower growth, hindering both private and government investment spending (Nica, 2016b","PeriodicalId":37224,"journal":{"name":"Economics, Management, and Financial Markets","volume":"12 1","pages":"76-81"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42809559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Double Features and Exhibition Programming Choices by Drive-In Movie Theatres 汽车电影院的双重特色和放映节目选择

Economics, Management, and Financial Markets Pub Date : 2017-09-01 DOI: 10.22381/emfm12320171

M. Fox

引用次数: 3