We estimate the probability of informed trading (Pi) in an order-driven stock market and perform a comprehensive analysis on the interrelations among Pi and three common performance indicators: liquidity, volatility, and efficiency. We find that uninformed traders exhibit price chasing behavior, and price volatility attracts uninformed traders. Using 3SLS which considers the endogeneity of Pi a...

This paper extends, in an asymptotic sense, the strong and the weaker mean square error criteria and corresponding tests to linear models with non-spherical disturbances where the error covariance matrix is unknown but a consistent estimator for it is available. The mean square error tests of Toro-Vizcorrondo and Wallace (1968) and Wallace (1972) test for the superiority of restricted over unre...

Pertumbuhan ekonomi Produk Domestik Regional Bruto (PDRB) diidentikkan sebagai ukuran kesejahteraan masyarakat. Usaha mikro kecil (UMK) di Indonesia dapat menjadi pendukung dalam pertumbuhan karena UMK memiliki karakteristik positif sektor yang mampu menyediakan lapangan pekerjaan besar. Pengeluaran juga mempengaruhi PDRB, menunjukkan masyarakat memenuhi kebutuhan hidupnya. Jawa Timur salah sat...

This study investigates the inter-relationship between audit committee effectiveness, bank efficiency and risk-taking in seven ASEAN countries for period 2010–2019. By using three-stage least squares (3SLS) method, we contribute to literature relationship effectiveness by examining mechanism behind this relation. Our results show that reduces through increasing efficiency. also finds associatio...

در این مقاله یک مدل ریاضی برای مسئله سیستم تولیدی همکارانه ساخت بر اساس سفارش با رعایت انصاف تخصیص بار‌های تولید طراحی شده است. اهداف اصلی مدل، کمینه‌سازی هزینه‌‌های کل و حداکثر استفاده از منابع به‌منظور عادلانه شرایط عدم­قطعیت کنترل پارامتر‌های غیرقطعی روش برنامه‌ریزی فازی ‌شده نتایج نشان می‌دهد افزایش نرخ عدم‌قطعیت، می­یابد. ازآنجاکه ظرفیت کارخانه‌ها ثابت است، مقدار تقاضا، هر کارخانه نیز می­ی...

In randomised controlled trials that have non-compliance with the treatment assigned, policy makers require unbiased estimates of the causal effect of the treatment received. Instrumental variable (IV) approaches provide complier average causal effects (CACE) estimates. Common IV methods such as two-stage least squares (2SLS) have not been extended to settings with multivariate outcomes. We pro...

abstract in this research by using a synchronous equivalents system, the functions of supply and demand of any kind of meat and corn in fars province, iran are considered. the purpose of this study is to predict the functions of supply and the price of meat and corn, recognition and analysis of effective issued on supply and price of this sections, considering the effect of shocks and the cross...