A growing body of research suggests that having more women in the boardroom leads to better corporate social responsibility (CSR) performance. However, much this work views CSR-enhancing effect directors as largely driven by their moral orientations and rarely considers other underlying mechanisms. Moreover, less explored are firm-specific conditions under which such CSR-promoting roles female might be performed (or less) effectively. In paper, we seek bridge gap literature (1) proposing an...

In this paper, we investigate the effect of an epidemic outbreak on consumer expenditures. light scanner panel data consumers’ debit and credit card transactions, present empirical evidence that outbreaks cause considerable disruption in total expenditures with significant heterogeneity across categories. Our findings strongly imply customers alter their behaviors to reduce risk infection. The estimated is qualitatively different from other macroeconomic factors. implications research...

The cultivation of abalone, a species with high economic value, faces significant challenges due to its slow growth rate and sensitivity environmental conditions, resulting in prolonged periods increased mortality risks. To address these challenges, we propose novel probabilistic machine learning approach based on Bayesian framework predict abalone by modeling key factors, including water temperature, pH, salinity, nutrient supply, dissolved oxygen levels. proposed method employs weighted...

The European carbon emission trading market is critical in achieving planned reduction for global sustainable growth. This paper investigates various statistical methods forecasting the (CO2 hereafter) price movements. builds a predictive regression model of CO2 movements with past returns commodities and financial products. In paper, 22 functional forms five different classifiers are employed forecast. Results indicate that Brent crude futures, natural gas (NG), Financial Times Stock...

This article unveils the dependence structure between crude oil prices, exchange rates, and United States interest rates. We begin by using asymmetric GARCH models to examine marginal behavior of returns, then various copulas are used understand extreme market co-movements. also investigate causal relationship spillover effects Granger causality test BEKK representation a multivariate process. Over 1998-2017 period, we find evidence an inverse U.S. rates prices. Oil-exchange rate linkages...

In this article, we examine the short-term impact of COVID-19 on daily stock market performance in Korea. We find strong evidence asymmetric effects: although an increase number confirmed cases negatively affected returns, returns were unaffected by a decline cases. also found that pandemic's second wave further decreased particularly food & beverage sector. Finally, confirm rising increases volatility returns. As Korea entered and third waves infection, however, such effects diminished....

This article investigates the relationship between daily crude oil prices and exchange rates. Functional data analysis is used to show clustering pattern of rates over time period through high dimensional visualizations. We select for important currencies related by using objective Bayesian variable selection method. The selected sample exhibits non-normal distribution with fat tails skewness. Under non-normality return series, we use copula functions that do not require assume bivariate...

Abstract When firms bid in procurement auctions, they take into account the likelihood of future contract renegotiations. If anticipate that certain input quantities will change ex post, have an incentive to strategically skew their itemized bids, thereby increasing profits for themselves and costs procuring agency. We develop estimate a structural model strategic bidding using data set road construction projects Vermont. find strategies lead increased markups renegotiated items reduced...

Abstract We propose a method for improving the predictive ability of standard forecasting models used in financial economics. Our approach is based on functional partial least squares (FPLS) model, which capable avoiding multicollinearity regression by efficiently extracting information from high‐dimensional market data. By using its well‐known ability, we can incorporate auxiliary variables that improve accuracy. provide an empirical application our proposed methodology terms to predict...

It is well-known that empirical analysis suffers from multicollinearity and high dimensionality. In particular, this much more severe in an study of itemized bids highway procurement auctions. To overcome obstacle, article employs the regularized linear regression for estimation a precise interval project winning bids. The approach put to test using data auctions Vermont. our analysis, we first choose set crucial tasks determine bidder's bid amounts by random forest variable selection...

This study aims to expand our understanding of environmental performance by adopting exploration and exploitation concepts, which are key types firm innovation. We reveal as two important antecedents proactive reactive performance. also identify the conditions under distinct effects these innovation moderated. Using a sample 2060 firm-year observations over 12-year period in various industries, we find that positively affects performance, whereas influences Furthermore, positive effect on...

This study analyzes the relationship between proportion of economically active population aged 15–64 to total and housing prices. A panel 31 provinces in China from 2002 2014 is used our analysis. We find empirical evidence that impact structure on housing-price growth increases as rates rise. observation suggests that, understand provincial price movements China, one should consider ratio working-age a province. The main policy implication Chinese policymakers need ensure moderated...

This article examines the link between population structure and housing prices. We use a panel of 23 countries from 1976 to 2013 in our empirical analysis. find statistically significant impacts proportion economically active aged 15–64 total on housing-price growth. Our study supports policy for stable growth moderate economic cycles.

This article examines the impact of incomplete contracts on procurement costs in road construction auctions. Ex ante these auctions often fail to specify all potential contingencies, and consequently, changes scope are necessary after begins. Using Vermont contract data, this study finds evidence that there is a statistically significant difference firms between with without extra work adjustments. Substantial adaptation responsible for higher outlays contract. I also find bidders inflate...

This article provides a new linear state space model with time-varying parameters for forecasting financial volatility. The volatility estimates obtained from the by using US stock market data almost exactly match realized We further compare our traditional models in ex post forecast evaluations. In particular, we use superior predictive ability and reality check snooping. Evidence can be found supporting that simple but powerful regression forecasts

Based on a unique scanner panel data set debit and credit card transactions, we examined the effect of gasoline prices individual choices between private vehicle use public transit ridership. The feature our allowed us to address possible heterogeneity in explicitly incorporate link A series empirical analyses reveal that there is significant fuel consumption financial constraints commitment determine sensitivities price gasoline. substantive knowledge provided about decisions concerning...

Abstract This article explores the impact of language proficiency on international trade by using panel data analysis. To do so, we construct a time‐variant test‐score‐based measure common language. Controlling for standard gravity model variables, find strong empirical evidence that English promotes bilateral flows through facilitating direct communication. We confirm this finding is robust even when estimate its effects separately goods and services at disaggregated level. Furthermore,...