Cross-sectional Panel Data Research Articles

Cross-sectional and spatial panel data analysis of territorial economic cohesion in the European Union regions based on convergence approach: From 2 to 8 per cent?

From an economic, political and social standpoint, one of the most evident and visible features of today's European Union as a supranational regional organization is its heterogeneity, where disparity seems to be the common denominator. This leads to the interest for measuring the territorial economic cohesion of the EU. From an eminently economic perspective, and working with the GDP per capita of the EU NUTS-2 regions for the period 2003–2021, this paper aims to provide evidence of a lack of territorial economic cohesion through a beta and sigma convergence methodology by applying cross-sectional and spatial panel data analysis.The findings show that the speed of convergence depends mainly on the level of economic development, its cycles and the heterogeneity of the, which implies conditional convergence. Less developed regions show higher convergence speeds, which are also accentuated during recession periods. Greater heterogeneity among the regions also increases the convergence speed, while accentuating in the less developed regions. In general terms, the results reveal convergence speeds of the entire NUTS-2 regions between 7 and 11 per cent (much higher than 2 per cent under absolute convergence). Likewise, when considering spatial dependence, a reduction in convergence speeds between approximately 3 and 8 per cent is detected. Finally, the 29 vulnerable regions have been identified, with economic development and growth below the EU average mean, emphasizing the need to take the concerns of territorial economic cohesion into account.

EMPIRICAL EVALUATION OF SUSTAINABLE AGRICULTURAL MANAGEMENT IN SOUTHEAST EUROPEAN COUNTRIES USING PANEL DATA ANALYSIS

The purpose of this article is to assess the agricultural development of ten Southeast European (SEE) countries from the aspect of key environmental, economic and social indicators of agricultural sustainability management from 2011 to 2020. The article uses a Cross-section panel data Fixed Effects Model to identify relations between agricultural development in SEE countries and mentioned indicators of sustainable agricultural development management. The common sample of all SEE countries shows the economic sustainability, but also the environmental and social unsustainability of their agricultural systems. At a disaggregated level, the subsample of European Union (EU) membership candidate countries also yields the same findings. In contrast, the subsample of EU member states indicates all three dimensions of sustainability, with the exception of the aspect of using renewables. Therefore, both groups of countries should use renewables more intensively in order to contribute to the promotion of their efficient, sovereign and sustainable agricultural growth.

Is collaborative consumption the new gamble to speed digital knowledge up in the accommodation sector?

PurposeThe present article aims to examine the development of the theoretical framework surrounding collaborative consumption (CC) standards in recent years regarding European short-stay accommodation booking platforms. The sharing economy has significantly impacted the tourist accommodation market in recent years. Starting with the use of experimental data on CCs published on Eurostat in 2019, this article analyzes the correlation between choices of CCs for short-stay accommodation, employment and the economic crisis.Design/methodology/approachA vector autoregressive panel approach was applied to investigate the correlation between CC short-stay accommodation choices using panel organization data from 561 EU regions between 2018 and 2021.FindingsAnalyzing the connection between the main data panel variables, a positive correlation was found, followed by an increasing trend in CC use. A self-multiplying effect is generated; that is, the more people use CC, the more electronic captures occur. Consequently, the improvement of CC use and knowledge-intensive activities in short-stay accommodation is strongly linked with employment and GDP.Originality/valueThe originality of the investigation is to examine with a cross-sectional panel data overview the reasons that can push stakeholders to adopt CC and to clearly define a new perimeter of research in terms of the endpoint of CC in short-stay accommodation. Furthermore, the study seeks to assess the end-point congruence to utilize CC as a new gamble to accelerate digital knowledge in the hospitality sector.

Do medical spending and income reduce the prevalence of human immunodeficiency virus and tuberculosis? A study on Sub-Saharan Africa

Several countries in sub-Saharan Africa (SSA) suffer from economic hardship and high unemployment rates; furthermore, this region has higher rates of human immunodeficiency virus (HIV) and tuberculosis (TB). This study examined the relationships between HIV and TB, income, and total medical spending and its components, private and public healthcare expenditure, for 41 SSA countries. Random and fixed-effects models were utilized in this study to explore relationships by studying time series and cross-sectional panel data obtained from the World Bank. Results demonstrated that there is a positive relationship between HIV and unemployment and a negative relationship with income and medical spending. We also observed that, when private and public medical expenditures are compared, private medical expenditures alleviate the HIV epidemic. Considering the association with TB, income, total, and its components, private and public medical expenditures are negatively related. Since prevention of such life-threatening diseases as HIV and TB becomes vital to find remedies for, there is a need for more government initiatives, including job creation, increased productivity, and increased income levels, which can be seen as preconditions in fighting and controlling HIV and TB.

Media Coverage, Advertising, and Electoral Volatility: The Crucial Role of Party Competence

ABSTRACT This paper aims to clarify the mechanism linking media coverage and advertising to electoral volatility. It is argued that the link is indirect rather than direct: Parties’ communication affects electoral volatility because it alters citizens’ perceptions of party competence. In addition, it examines differences between communication channels – media coverage and advertising – and between individuals. Three data sources on Switzerland are used to test these relationships: an individual rolling cross-section panel data, a media content analysis, and an advertisement content analysis. Mediation models show that the visibility of parties on issues influences perceptions of competence and thereby helps parties to attract new voters and reinforce their core voters. Furthermore, ads seem to have a stronger effect than media coverage in reinforcing people’s opinions. Finally, and in line with motivated reasoning, citizens without partisan ties are more sensitive to campaign information than party identifiers.

The impacts of multiple privacy regulations and national security infrastructure on health information exchange: a study of hospitals across Europe

PurposeSharing patient health information (PHI) among hospitals has been much slower than the adoption of health record systems. This paper aims to investigate if privacy regulation (PR) or security measures (SMs) influence hospitals’ use of health information exchange (HIE) to share PHI with other providers (e.g. physicians, labs, hospitals). The study specifically focuses on how multiple PRs can impede and a strong national security infrastructure (NSI) can support HIE.Design/methodology/approachThe study uses secondary data from a multi-national and multi-hospital survey administered by the European Union. The multi-level structure of the cross-sectional panel data is used to test the influence of both hospital-level (e.g. PR) and national-level variables (e.g. NSI) on HIE. A total of nine types of HIE, three types of PRs, nine SMs and other relevant control variables are considered. This study uses a two-level random intercept generalized linear model to test the hypothesis proposed in the study.FindingsThe study finds that national-level PRs (NLPR) have the strongest positive influence on HIE in comparison to regional (RLPR) and hospital-level (HLPR) PRs. Moreover, the study finds evidence that the presence of RLPR and HLPR, on average, decreases the positive impact of NLPR by 264%. The SMs also have a significant and positive impact on HIE. Adoption of an additional SM can increase the odds of engaging in a certain type of HIE between 21% and 61%. On the other hand, a strong NSI can also amplify the positive impact of SM on certain types of HIE.Originality/valueThis study extends prior research on the role of PRs in enabling HIE by considering the complexities brought up by adopting multiple PRs. NLPRs have the strongest impact on HIE in comparison to RLPRs or HLPRs. Moreover, public infrastructure initiatives such as those related to secure communications can also complement SMs adopted by the providers by encouraging HIE.

Effect of Total Active Voice Call Subscribers on Economic Growth in Nigeria: An Application of Cross-Sectional Panel Data Model

This study assesses the effect of active voice calls on Nigeria's economic growth rate. The data utilized in the study was extracted from telecom reports produced by the Nigeria Bureau of Statistics (NBS), and it was gathered between 2017 and 2021, the period following the economy's first spell of consecutively negative growth since it emerged from recession. The data were subjected to regression using fixed effect (FE), random effect (RE), and pooled ordinary least squares (POLS). The study's findings showed that the RE regression model was the most effective. Additionally, it was shown that there is a positive and significant correlation between the total number of total number of active voice call subscribers (TNAVCS) and Nigeria's annual economic growth rate (GR). The conclusion suggests that as the total number of active voice call subscribers rises, so does Nigeria's annual economic growth and development, with the total number of active voice call subscribers accounting for more than 86% of the annual economic growth rate and the stochastic error term accounting for the remaining percentage. Therefore, it can be concluded that the main elements that have favorably impacted Nigeria's annual economic growth rate during the study period are the total number of active voice call users. Therefore, this study suggested that the total number of active voice call users is a significant factor that favorably influences Nigeria's annual growth rate.

The Effect of Gross Profit Margin, Intellectual Capital, Investment Opportunity Set on Firm Value with Earnings Management as an Intervening Variable

Firm value is indicated to be influenced by several factors such as gross profit margin, intellectual capital, investment opportunity set, and earnings management. This study aims to determine the effect of gross profit margin, intellectual capital, and investment opportunity set either directly or indirectly through earnings management on firm value. This study used a sample of food and beverage companies listed on the IDX for the period 2017-2021 totaling eighteen companies. The study used secondary data with time series and cross-section panel data. The sample selection was carried out by purposive sampling. The analysis technique used to test the hypothesis is path analysis. The quantitative approach was used in this study, with multiple linear regression analysis tools and using the SPSS 22 program. The results showed that partially gross profit margin affects earnings management. Intellectual capital affects earnings management. Investment opportunity set has no effect on earnings management. Gross profit margin affects firm value. Intellectual capital has no effect on firm value. Investment opportunity set affects firm value. Earnings management has no effect on firm value. Indirectly gross profit margin on firm value through earnings management the results have no effect. Indirectly intellectual capital on firm value through earnings management has no effect. Indirectly investment opportunity set on firm value through earnings management has no effect. This study provides information on factors that affect firm value and adds empirical evidence related to earnings management as an intervening variable.

The Onset of the COVID-19 Pandemic Made People Feel Threatened, but Had a Limited Impact on Political Attitudes in the United States.

We investigated if the COVID-19 pandemic's onset caused changes in political attitudes. Influential theories predict that the pandemic's onset will cause people to adopt more conservative attitudes, more culturally conservative attitudes, or more extreme attitudes. We comprehensively tested the external validity of these predictions by estimating the causal effect of the pandemic's onset on 84 political attitudes and eight perceived threats using fine-grained repeated cross-sectional data (Study 1, N = 232,684) and panel data (Study 2, N = 552) collected in the United States. Although the pandemic's onset caused feelings of threat, the onset only caused limited attitude change (six conservative shifts, four extremity shifts, 12 liberal shifts, 62 no change). Prominent theories of threat and politics did not make accurate predictions for this major societal threat. Our results highlight the necessity of testing psychological theories' predictive powers in real-life circumstances.

Human Resources Disclosure in the Annual Reports: A Case of Romanian Listed Companies from the Medical and Pharmaceutical Industry

Abstract The main objective of this paper is to determine whether corporate characteristics reflecting financial performance, size, and information on internal and external audit, or performance management are determinants of human resources disclosure in the annual reports. In this paper, information from annual reports of six Romanian companies listed on the Bucharest Stock Exchange are collected for the years 2012-2021, using content analysis. The data was analyzed using descriptive statistics and correlation analysis. Moreover, the multiple linear regression is applied to cross-sectional panel data in order to determine the effects of human resources disclosure index in relation to return on assets (ROA), return on equity (ROE), leverage, number of employees, company size, company age, the existence of an Audit Committee, the auditor type and performance management. The results show that the age of the company and the existence of the Audit Committee are the most significant variables positively correlated with disclosure of human resources information. Furthermore, leverage is another significant variable, however, negatively associated with the level of company disclosure in the annual report. The variables ROA, ROE, number of employees, company size, type of auditor and performance management do not have a significant impact on human resources disclosure in the case of Romanian listed companies from the medical and pharmaceutical industry.

Conformity to institutional logics and organizational strength of voluntary sport clubs

ABSTRACT Research question The aim of this study was to examine if and under what conditions voluntary sport clubs (VSCs) conformed to the institutional logics of professionalism, consumerism and instrumentalism and whether conformity to these logics increases the organizational strength and resources of VSCs. Research methods Cross-sectional (n = 549) and longitudinal (n = 158) panel data of Dutch VSCs between 2007 and 2021 were used. Paired samples t-tests show the extent of conformity. Logistic regressions indicate the relationship between three conformity measures (level of professionalism, consumerism and instrumentalism), institutional conditions and self-perceived organizational strength and resources. Results and Findings Results suggest that VSCs did not strongly conform to the three institutional logics between 2007 and 2021. Results do provide evidence for the relationship between institutional conditions (cooperation with other VSCs, size, experienced competition, degree of competitiveness, own facilities) and the likelihood of conformity. No relationship was found between conformity and self-perceived organizational strength and resources. Implications Results of this study indicate that conforming to collective beliefs about what constitutes desirable, proper, or appropriate behavior alone -as the neo-institutional view implies- is a limited view for explaining VSCs’ survivability. Furthermore results imply that change into the directions pursued by policy makers does not seem to improve the organizational strength of VSCs. More research is needed to investigate survival mechanisms based on other theoretical concepts in order to understand, monitor and improve the survivability of VSCs.

Exploring the Channel of Transmission between External Debt and Economic Growth: Evidence from Lower Middle Income Countries

The study intends to ascertain the pathway through which foreign debt affects GDP growth in lower-middle-income countries (LMICs). High external debt stock has been major source concern for many LMICs in the late 90’s and post financial crises period. Cross-section panel data from 30 countries were studied for the period 1999–2019 using a two-step system (GMM) estimation technique. The sample LMICs were further broken into Asian and African nations and the period was divided into 2010–2019 to assess the impact of post-financial crisis events. The research revealed a strong relationship between external debt and GDP growth via total factor productivity when the entire sample of LMICs was considered. However, the estimations also indicated that TFP is not a channel of transmission in Asian nations in both eras, namely 1999–2010 and the post-financial crisis period of 2010–2019, because foreign debt reduces total factor productivity. Furthermore, considering the entire sample and the post-financial-crisis period in African countries, external debt has a negative but minor connection with TFP. GDP growth shows a large and positive association with TFP in both periods in African countries.

THE INTERCONNECTIONS BETWEEN ECONOMIC, SOCIAL AND ENVIRONMENT RELATED INDIDCATORS AND THEIR RELATIONSHIP WITH ECONOMIC GROWTH

This study examines the principal components that are characteristic to a varied number of indicators specific to the economic, social and environmental interconnectivity. The data are drawn primarily from the World Bank’s WDI, the UNDP’s HDI and Our World in Data’s Indicators. Using cross-section panel data from 2000 to 2021, for a number of 32 European countries, a considerable number of factors are generated by conducting the principal component analysis. The results of the analysis depict an image where the three-dimensional interconnectivity is described to a greater extent by components such as: the agricultural sector’s value added as a percentage of the GDP, the total quantity of primary energy consumed per capita, the percentage of the population that has access to internet, the percentage of individuals that are unemployed, the population density, the total dependency ratio, the industrial sector’s value added as a percentage of the GDP and the percentage of the female population that has attained at least secondary education. Together with the GDP, the obtained factors are statistically analysed in order to observe the existing correlations between economic growth and the economic, social and environmental interconnectivity. According to the results of the Pearson correlation, both positive and negative relationships of moderate intensities exist between economic growth and the factors that address the three-dimensional interconnectivity. Furthermore, recommendations are made for future research regarding the creation of an index based on the components that form the factors previously obtained.

Using Multidimensional Data to Analyze Freeway Real-Time Traffic Crash Precursors Based on XGBoost-SHAP Algorithm

The traditional freeway safety studies with “poststatic” thinking basically use cross-sectional data or panel data, which find it difficult to figure out real-time traffic crash risk factors. With the development of information collection technology, it is possible to obtain high-resolution traffic flow data currently, which provide a data basis for the dynamic traffic safety research towards freeways. This research aims at accurately identifying the real-time traffic crash precursors on freeways and addressing the shortcomings of conventional dynamic traffic safety research with the thinking of limited factor dimensions. In this research, dimensional data were applied as input model variables, the input dataset includes traffic crash data and the matched dynamic traffic flow data, and weather information and road characteristics were also considered to figure out the interaction effects between these dimensional factors. The XGBoost (eXtreme Gradient Boosting) was carried out to identify the dynamic crash-prone variables and the SHAP (SHapley Additive exPlanations) interpreter was introduced to interpret the XGBoost model, as well as the visualization of the influence of each eigenvalue on the traffic crash was realized. The results indicate that, in addition to traffic flow variables, road, weather, and temporal characteristics also have an impact on the traffic crash risk, and there is an interaction between each feature. The results of this research can provide the theoretical basis for freeway real-time traffic crash prediction and safety control.

Does the audit quality have any moderating impact on the relationship between ownership structure and dividends? Evidence from Jordan

The article aims at investigating whether audit quality impacts the relationship between ownership structure and dividends in companies listed on the Amman Stock Exchange (ASE). The article is constructed on the analysis of time-series–cross-section (TSCS) (Panel Data). The study sample comprises 34 companies listed on the Amman Stock Exchange between 2016 and 2021. The study sample’s content of the financial reports is analyzed to attain appropriate data for the study. The Findings indicate that family ownership and ownership of board members negatively impact dividends. In contrast, institutional ownership and concentrated ownership positively impact dividends, as no effect of foreign ownership is found on dividends. By introducing audit quality as a modified variable on the relationship between ownership structure and dividends, the findings demonstrate that audit quality positively enhances and strengthens this relationship. This article with its results is of great significance to future stockholders and shareholders, as they help in selecting companies capable of distributing higher dividends than other companies and achieving satisfactory investment returns. The findings of the study also focus on the significance of audit quality as a guarantor for regulating the relationship between forms of ownership structure and the distribution of dividends. This study is regarded among the little research investigating the factors that would impact the relationship between ownership structure and dividends. This article plays a key role in bridging the research gap related to the lack of studies dealing with the relationship between ownership structure and dividends in emerging markets.

The impact of liquidity risk, credit risk, and operational risk on financial stability in conventional banks in Jordan

This study examines the impact of unsystematic financial risk, including liquidity risk, credit risk, and operational risk, on financial stability in conventional banks listed on the Amman Stock Exchange in Jordan. Understanding and managing these risks is crucial for protecting investors, maintaining financial stability, encouraging foreign investment, and strengthening the financial sector in Jordan. The study adopts a descriptive approach to collect and describe data and utilizes cross-sectional panel data over five years from 2016 to 2021 to establish cause-and-effect relationships between study variables, while controlling for other relevant factors that may influence the relationship. The findings suggest that while liquidity risk may not directly impact financial stability, it remains a critical risk factor that requires attention in risk management strategies. Credit risk has a negative impact on financial stability, highlighting the importance of effective credit risk management strategies to maintain a stable financial system. The study finds that operational risk has no direct impact on financial stability. Still, unsystematic operational risks can have significant implications for individual financial institutions and may indirectly affect overall stability. The study underscores the importance of comprehensive risk management strategies to mitigate the negative impact of unsystematic financial risk on financial stability. Future research may consider analyzing the impact of other types of risks on financial stability.

Energy Transition in Non-Euro Countries from Central and Eastern Europe: Evidence from Panel Vector Error Correction Model

The countries of Central and Eastern Europe, from the non-euro area, have completed the process of economic transition before joining the European Union. Achieving a certain level of economic development and membership in the European Union have generated their involvement in a new transition process, namely the energy transition. Concerns about promoting the low carbon economy have become increasingly complex for those countries that are interested in the environmental impact of economic activity. This study aims to analyze the process of energy transition in the countries of Central and Eastern Europe on the basis of the causality relationship among specific variables for the period 1990–2018. The study is based on cross-sectional panel data and the panel vector error correction model (PVECM). The efforts made by these countries by joining the European Union have generated economic development, with positive effects being recorded on the protection of the environment, a fact due to the strict regulations adopted and rigorous implementation at the national level. Foreign capital had a positive impact on the transition to a low carbon economy because most of the FDI flows attracted by the non-euro countries in the CEE come from Western Europe, i.e., from EU member countries, located either among the founders or among the countries that joined during the first waves of union expansion. Membership in the European Union facilitates the energy transition process for the non-euro countries of Central and Eastern Europe, but the new geopolitical events generate the reconfiguration of the European strategy of considering the need to ensure energy security.

Healthcare of pregnant women with diabetes during the COVID-19 pandemic: a Southern Brazilian cross-sectional panel data.

To evaluate the indirect effects of the COVID-19 pandemic on the care of women with pregnancies complicated by gestational or pre-existing diabetes, and their maternal-fetal outcomes. A cross-sectional panel data conducted in a University Hospital in Southern Brazil. Maternal-fetal outcomes and predictors of care from 235 pregnant women with type 1, type 2, or gestational diabetes were evaluated. Two time periods were compared: six months preceding the pandemic, in 2019, and the COVID-19 period from September 2020 to March 2021. Comparisons were performed using analysis of variance, Mann-Whitney U, Fisher's exact and T-tests. Risks were calculated using the Poisson regression with robust estimates. Maternal age was lower (32.1±6.8 vs. 34.4±6.6, p=0.009) and rates of depression/anxiety were higher (16.5 vs. 7.4%, p=0.046) in the group evaluated during the COVID-19. Neonatal hypoglycemia (RR 4.04; 95% CI 1.37-11.98, p=0.012), and SGA rates (RR 4.29; 95% CI 1.93-9.54, p<0.001) were higher in the group assessed before the pandemic. Despite economic, social and structural impacts of the pandemic, parameters of maternal care were similar; diabetes control improved, and neonatal hypoglycemia and SGA rates were lower among pregnant women with diabetes during the pandemic.

Corporate Governance and Financial Performance of State-Owned Enterprises Compared to Listed Firms in Zambia: 2002-2017

The study was a comparative analysis of the corporate governance practices and firm financial performances between State-Owned Enterprises and listed firms in Zambia. Using a cross-sectional panel data set covering the period 2002 to 2017, the t-test statistic was employed to compare the corporate governance practices and firm financial performances between unlisted State-Owned Enterprises, listed State-Owned Enterprises and listed private firms. It was found that corparate governance practices and firm financial performances between State-Owned Enterprises and listed firms in Zambia were significantly different. The board sizes for listed firms were statistically significantly less than those of State-Owned Enterprises and the proportion of non-executive directors on the boards of listed firms were also statistically significantly less than those of State-Owned Enterprises. On the other hand the proportion of female directors on listed firms were statistically significantly more than those of unlisted State-Owned Enterprises. In terms of firm financial performance, it was found that the mean of the Return on Total Assets for listed private firms was statistically significantly greater than the mean for unlisted State-Owned Enterprises. There were significant effect sizes in all the measured variables. This was a country specific study that contributed to the empirical knowledge on corporate governance practices and financial performances in State-Owned Enterprises and listed firms. The findings are of interest to researchers, corporate governance practitioners and government policy makers.

Nuclear energy transition and CO2 emissions nexus in 28 nuclear electricity-producing countries with different income levels.

BackgroundNuclear energy carries the least environmental effects compared to fossil fuels and most other renewable energy sources. Therefore, nuclear energy transition (NET) would reduce pollution emissions. The present study investigates the role of the NET on CO2 emissions and tests the environmental Kuznets curve (EKC) in the 28 nuclear electricity-producing countries from 1996–2019.MethodsAlong with a focus on the whole panel, countries are divided into three income groups using the World Bank classification, i.e., three Lower-Middle-Income (LMI), eight Upper-Middle-Income (UMI), and 17 High-Income (HI) countries. The cross-sectional dependence panel data estimation techniques are applied for the long and short run analyses.ResultsIn the long run, the EKC is corroborated in HI countries’ panel with estimated positive and negative coefficients of economic growth and its square variable. The Netherlands, Sweden, Switzerland, and the USA are found in the 2nd stage of the EKC. However, the remaining HI economies are facing 1st phase of the EKC. Moreover, economic growth has a monotonic positive effect on CO2 emissions in LMI and UMI economies. NET reduces CO2 emissions in UMI and HI economies. On the other hand, NET has an insignificant effect on CO2 emissions in LMI economies. In the short run, the EKC is validated and NET has a negative effect on CO2 emissions in HI countries and the whole panel. However, NET could not affect CO2 emissions in LMI and UMI countries. Based on the long-run results, we recommend enhancing nuclear energy transition in UMI and HI economies to reduce CO2 emissions. In addition, the rest of the world should also build capacity for the nuclear energy transition to save the world from global warming.