This paper attempts to differentiate among the theories of corporate hedging by using treasury disclosures in the 1995 annual reports of the largest 400 UK companies and data collected via a survey to corporate treasurers. Univariate and multivariate logit tests indicate that firms with tax loss carryforwards, higher gearing, lower liquidity, foreign exchange exposure and larger firms are more ...

A multinomial logit model of residence and job change is developed and estimated using U.S. data from the Michigan Panel Study of Income Dynamics. It is found that both housing demand and job search characteristics are significant determinants of the decision to migrate and that both equilibrium and disequilibrium forces induce migration and job change. In addition, "the data do not appear to...

The multinomial logit model with random eeects is often used in modeling correlated nominal polytomous data. Given that there is no standard software of tting it, we advocate using either a Poisson log-linear model or a Poisson nonlinear model, both with random eeects. Their implementations can be carried out easily by many existing commercial statistical packages including SAS. A brand choice ...

In this paper we introduce a new flexible mixed model for multinomial discrete choice where the key individualand alternative-specific parameters of interest are allowed to follow an assumptionfree nonparametric density specification while other alternative-specific coefficients are assumed to be drawn from a multivariate normal distribution which eliminates the independence of irrelevant alter...

Title: WEATHER IMPACT ON ROAD ACCIDENT SEVERITY IN MARYLAND YUE LIU, M.S. in Civil and Environmental Engineering, 2013 Directed By: Professor and Chair Ali Haghani, Department of Civil and Environmental Engineering This study was conducted to analyze and quantify the impact of weather factors on road accident severity, based on Maryland accident data during 2007-2010. In order to find a better ...

This paper investigates the importance and role of migration networks in Senegal using a new nationally representative survey conducted in 2006-2007. Using a sample of 1707 Senegalese households I explore potentially differential effects of networks on international migration depending on their characteristics in terms of composition and destination. Results from logit and multinomial logit reg...

The multinomial logit model (MNL) is one of the most frequently used statistical models in marketing applications. It allows to relate an unordered categorical response variable, for example representing the choice of a brand, to a vector of covariates such as the price of the brand or variables characterising the consumer. In its classical form, all covariates enter in strictly parametric, lin...

Motivated by e-commerce, we study the online assortment optimization problem. The seller offers an assortment, i.e. a subset of products, to each arriving customer, who then purchases one or no product from her offered assortment. A customer’s purchase decision is governed by the underlyingMultiNomial Logit (MNL) choice model. The seller aims to maximize the total revenue in a finite sales hori...

The multinomial logit model is perhaps the most commonly used regression model for nominal outcomes in the social sciences. A concern raised by many researchers, however, is the assumption of the independence of irrelevant alternatives (IIA) that is implicit in the model. In this article, the authors undertake a series of Monte Carlo simulations to evaluate the three most commonly discussed tes...

In this paper we consider a retailer's product line selection and pricing problem. We use a consumer choice model in which individuals have stochastic utility for each product and act to maximize their consumer surplus. We consider three basic problems: (1) A retailer who has a current product line with xed prices and who is considering the addition of a new model to the product line. The retai...