This article presents one of the first large-sample empirical analyses of the impact of services on the business models (i.e. the financial performance) of product firms. We build upon existing and recent literature in technology management, economics, and service operations in order to propose and test hypotheses regarding the relationship between level of service revenues and operating profit...

This paper provides an overview of recent econometric advances on testing of functional form with semiparametric methods and their application to the estimation of the environmental Kuznets curve (EKC). The EKC in environmental economics is estimated using panel data models and provides a fertile ground for the adoption of recent panel data developments. The paper provides a discussion of recen...

This paper applies univariate and panel data unit root tests to annual panel data for 182 countries over the period 1979-2000 to examine the stationarity properties of per capita energy consumption. The univariate unit root test can only reject the unit root null for 29 per cent of the countries at the 10 per cent level or better without a trend and 37 per cent of the countries at the 10 per ce...

Estimation of econometric dynamic random effects panel data models is hampered by the initial conditions problem. This problem is often “solved” by making auxiliary assumptions which are not always consistent with the other maintained econometric assumptions. This paper develops a strategy for avoiding this potential inconsistency. The main idea is to ask which set of parameter values would be ...

the main objective of this study is to evaluate the spatial effect on fluctuations of trade based on the spatial panel data econometric method and wavelet smoothing using bilateral trade weighted matrix. the negative spatial dependent are estimated. using data from 34 most-important countries the period of 1980-2010 are investigated through spatial model and maximum likelihood estimation method...

The aim of this paper is to empirically investigate the determinants of tourism demand by utilizing panel data for the period of 1995-2011 from top 20 countries sending tourists to Turkey. Econometric results obtained from panel cointegration analysis show that macroeconomic factors as such income, prices, supply capacity, exchange rate and political stability play a significant role in determi...

This paper investigates the relationship between intra-industry trade (IIT) and immigration flows using a gravity model for the period 2000-2010 between Portugal and European Union’s Member States (EU-27). The present study uses the methodology of Kandogan (2003) for separating IIT into its components horizontal (HIIT) and vertical intra-industry trade (VIIT).Using a panel data approach, our st...