The leverage and debt maturity choices of real estate companies are interdependent, and are not made separately as is often assumed in the literature. We use three-stage least squares (3SLS) regression analysis to explore this interdependence for a sample of listed U.S. real estate companies and Real Estate Investment Trusts (REITs) traded between 1973 and 2006.We find substantial differences i...

This paper examines the relationship between firm size, competitive strategy and performance, for the long-lived small firm in Scotland. It uses structural modelling to test the hypothesis that small firms need to remain small if they are to be long-lived. In a threeequation simultaneous model, performance, size and the dimensions of the competitive strategy of the firm are jointly determined. ...

We use original 2005 survey data from Fiji and Tonga on remittances and household income to estimate the combined impact of migration and remittances on the composition of household income. A two-stage methodology is followed. A variable for the predicted number of migrants in each household is generated to control for selectivity in migration. This variable is then used in a 3SLS remittances a...

Employing data on over 100 GCC banks for 1996e2011, we test the relation between risk and capital. Given the interlinkage between these two variables, the model employs a 3SLS estimation that takes on board this simultaneity. Consistent with the literature, risk is measured by the Z-score, while capital is computed as the ratio of equity to asset. The findings indicate that banks generally incr...

In the growth literature, evidence on convergence of per capita incomes is mixed. In the development literature, health and education indicators are often used to measure countries’ development progress. This study examines whether average stocks of health and education are converging across countries and calculates the speed of their convergence using data from 84 countries for 1970–90. A thre...

Penelitian ini mengkaji penyebab tinggi rendahnya suku bunga pinjaman perumahan dengan menggunakan data panel dari 17 negara untuk melihat sistem pembiayaan secara institusional. Dengan mengasumsikan terdapat hubungan simultan pada mortgage rate, hasil menunjukkan bahwa mayoritas bank, analisis 3sls mengkonfirmasi antara maju dan berkembang dimana sumber dana, profit, efisiensi, interest rate i...

Determine the main factors affecting carbon emissions of Chinese steel industry is indispensable commitments to achieve sustainable development China. Hereby, based on Stochastic Impacts by Regression Population, Affluence and Technology (STIPRAT) model, this paper combines economic growth function, emission production FDI function industry, uses three-stage least square equation model (3SLS) a...

agricultural research is one of the most important factors in agricultural development, thus, the role and importance of research is increasing. within the past years, all developed and consequently developing countries have engaged their most attention to promote their researches indexes. this study is investigating the effect of agricultural research on the distribution of income and agricult...

Bu çalışmanın amacı, Türkiye’de 2004 ve 2019 yılları için Hanehalkı Bütçe Anketleri (HBA) kullanılarak, tütün harcamalarına ilişkin bir koşullu talep tahmini gerçekleştirmek bu yolla harcamalarının diğer ürün gruplarının (gıda, sağlık, eğitim, giyim, ulaşım, eğlence, alkol, barınma, dayanıklı ürünler) tüketimi üzerinde dışlama etkisi yaratıp yaratmadığını üç aşamalı en küçük kareler (3SLS) yönt...