Economic Performance Variables Research Articles

Non-Linear Impact of Economic Performance on Social Equity in Rail Transit Station Areas

Rail transit station areas (RSAs) are heralded as a transformative approach to urban planning, emphasizing the integration of transportation, housing, and commercial development to foster sustainable and inclusive cities. This study presents a comprehensive exploration of the interplay between transit-oriented development (TOD) economic performance and social equity in RSAs, employing advanced methodologies, like eXtreme Gradient Boosting (XGBoost) and SHapley Additive exPlanations (SHAPs), to decipher the complex relationships between TOD characteristics and social equity outcomes. Focused on Dalian’s urban center, this study integrates diverse datasets, including mobile location, geospatial, and economic price data, to construct a nuanced analysis framework within the NPE (node–place–economic) model. The results indicate that economic factors significantly impact overall social equity, particularly influencing key variables, such as weekday and weekend commuter population densities. Local explanatory plots reveal that economic performance variables associated with transportation development exhibit a broad non-linear impact on social equity in RSAs. This study advances equitable urban development through TOD by stressing the importance of factoring in multiple variables in RSA planning. This approach is vital for creating synergistic effects, fostering equitable spatial planning, and has both theoretical and practical benefits for improving residents’ well-being.

Effect of financial development on economic performance in Nigeria

This study empirically investigated and examined the effect of financial development on economic performance in Nigeria covering the period of 32 years spanning from 1990 to 2022. The study utilized of five (5) financial development proxies namely ratio of broad money to gross domestic product (M2GDP), ratio of credit to private sector to GDP (CPSGDP), ratio of domestic credit to GDP (DCGDP), foreign direct investment, (FDI), Government expenditure to GDP (GEGDP), and three (3) control variables; interest rate (INTR), served as the independent variables while one (1) economic performance variables namely ; Inflation rate (INFR) and Corruption (COR) GDP Growth Rate which served as the dependent variables in the study. Data were sourced from World Bank and Macro Trends and Transparency International Corruption from 1990 to 2023. Multiple regression model technique via E- view software 9.0 was adopted to test the hypotheses in the study. The result revealed that only ratio of domestic credit to GDP (DCGDP), foreign direct investment, (FDI), and interest rate (INTR), was found to have an insignificant positive effect on GDP growth rate while ratio of broad money to gross domestic product (M2GDP), ratio of credit to private sector to GDP (CPSGDP), Government expenditure to GDP (GEGDP), Inflation rate (INFR) and Corruption (COR) was found to have an significant negative effect on GDP growth rate. Thus, we concluded that there are both positive and negative significant impacts of financial development on the economic performance in Nigeria for years under review using the model of specifications i.e. GDP growth rate. To this end, we recommend that CBN should stimulate GDP growth rate by increasing proportionately to GDP, the volumes of money supply and private sector credits. This can be achieved through open market operation and reducing the cost of borrowing.

Impact of the COVID-19 Pandemic on the Economic Performance in Indonesia: Simultaneous Equations Approach

This study explains the relationship between economic performance and tax revenues in Indonesia and the impact of COVID-19 on Indonesia's economic performance using a new approach, namely the three-stage least squares model. This approach is used based on the alleged simultaneous relationship that occurs between economic performance variables and tax revenue variables. The results of the analysis prove that the variables of economic performance and tax revenue have a simultaneous relationship, so that the two variables influence one another. Additionally, the results of the analysis show that the COVID-19 pandemic has had a negative effect on economic performance in Indonesia. Therefore, the implementation of economic protection policies for vulnerable groups in society, namely the poor and near-poor, needs to be carried out properly. The novelty of the results is the use of the three-stage least-squares model to determine the relationship between economic performance variables and tax revenues simultaneously. Keywords: COVID-19, economic performance, Indonesia, simultaneous equations, three-stage least squares. DOI: https://doi.org/10.55463/hkjss.issn.1021-3619.60.47

Economic Performance and Stock Market Integration in BRICS and G7 Countries: An Application with Quantile Panel Data and Random Coefficients Modeling

The interest in studies aimed at understanding the integration of the stock market with the economic performance of countries has been growing in recent years, perhaps driven by the recent economic crises faced by the world. Although several studies on the topic have been carried out, the results are still far from a meaningful conclusion. In this sense, this paper considered the dual objective of investigating whether there is significant variance in the economic performance of developed and emerging markets’ countries and whether the global risk factors are statistically significant in explaining the variations in their future economic performance over time. From a sample of (i) gross domestic products from BRICS and G7 countries (total of twelve countries), and (ii) returns of the risk factors of developed and emerging stock markets for the period 1993 to 2019, we applied longitudinal regression modeling for five distinct percentiles, and random coefficients modeling (RCM) with repeated measures. We found that risk factors explain the future economic performance, there is significant variation in economic performance over time among countries, and the temporal variation in the random effects of intercepts can be explained by RCM. The results of this study confirm that stock markets follow an integration process and that moderately integrated markets may have the same risk factors. Furthermore, considering that risk factors are related to future GDP growth, they act as proxies for unidentified state variables.

Herd level economic comparison between the shape of the lactation curve and 305 d milk production.

Herd milk production performance is generally evaluated using the herd's average 305-day milk production (HM305). Economic comparisons between herds are also often made using HM305. Comparing herds is thus based on summarized milk production, and not on the form of the lactation curves of the cows within the herd. Cow lactation curve characteristics can be aggregated on a calendar year basis to herd lactation curve characteristics (HLCC) (herd magnitude, herd time to peak yield and herd persistency). Thus far, no literature has evaluated whether the shape of the lactation curve (described by HLCC) is better able to explain the economic variation of herds than summarized milk production such as HM305 does. This study aims to determine whether HM305 or HLCC is better able to explain the variation in economic performance between herds. To do so, we evaluated 8 years of Dutch longitudinal data on milk production and the financial accounts of 1,664 herds. Cow lactation curve characteristics were calculated through lactation curve modeling and aggregated to HLCC on a calendar year basis for two parity groups (primiparous cows and multiparous cows). Using income over feed cost per cow (IOFC-cow) or per 100 kg milk (IOFC-milk) as the dependent variable separately, we developed four linear mixed models. Two models were used to analyse the association between herd economic performance and HLCC; the other two models were used to analyse the association between herd economic performance and HM305. A Cox test and J test were used to compare two non-nested models to investigate whether HM305 or HLCC better explain IOFC. The average IOFC-cow was €2,305 (SD = 408) per year, while the average IOFC-milk was €32.1 (SD = 4.6). Results showed that HLCC and HM305 explain the same amount of variance of IOFC-cow or IOFC-milk. IOFC-cow was associated with HM305 and HLCC (except herd time to peak yield for primiparous cows). Herd magnitude was most strongly associated with IOFC-cow, followed by herd persistency and herd time to peak yield of multiparous cows. IOFC-milk was not associated with HM305 or HLCC (except for a weak negative association with herd persistency for primiparous cows). IOFC-cow and IOFC-milk were driven most by time effects. In conclusion, HLCC and HM305 explain the same amount of variance in IOFC-cow or IOFC-milk. HLCC is more computationally expensive, while HM305 is more readily available.

The development of cities supported by communication and information technologies

This research aims to analyze the relationship between economic, social and digital performance in cities of different sizes in Brazil. Data provided by the following official agencies: National Treasury Secretariat, National Mayors' Front and Risk Classification Agency were used. Pearson's correlation was used to identify the influence of digital, social, and economic performance variables in cities divided into groups based on the number of inhabitants. There was a strong correlation between Communication and Information Technologies and social and economic aspects. The greater the needs of cities, the more intense is the use of Communication and Information Technologies, reinforcing the establishment of the perspective of smart cities.

PENGARUH PENGUNGKAPAN ESG TERHADAP KINERJA KEUANGAN PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN SEKTOR KEUANGAN YANG TERDAFTAR DI BEI PERIODE 2017-2019)

This study aims to examine the effect of ESG disclosure on financial performance within firm. By using sample of 80 firms in finance sector, listed in Indonesia Stock Exchange for 2017-2019, sample selected using purposive sampling technique.Financial performance measured by Return on Asset, Tobin’s Q, and Sales Growth, the analysis method used is multiple regression analysis. The result showed that ESG disclosure only affect Return on Asset simultaneously, furtheranalysis showed that none of the economic performance variables affected by ESG disclosure partially, instead control variable produce mixed result that affect financial performance variable itself.

A business case for democracy: regime type, growth, and growth volatility

ABSTRACT I present a business case for democracy, focusing on the impact of democracy on economic growth. This relationship is widely studied, and results have been less robust for growth than many other development outcomes such as literacy or infant mortality. I discuss four factors pertaining to data quality and modelling choices, suggesting that several previous studies have underestimated the growth-benefits of democracy. I further discuss the relationships between democracy and economic crises and variation in economic performance. By mitigating abysmal economic outcomes and ensuring more stable performance, democracy is generally of benefit to risk-averse entrepreneurs, investors, workers, and consumers alike.

TRIPLE BOTTOM LINE TERHADAP NILAI PERUSAHAAN, GROSS PROFIT MARGIN SEBAGAI INDIKATOR EKONOMI

ABSTRACT The research was conducted with the aim of testing Triple Bottom Line performance including economic performance, environmental performance and social performance influenced the company's value. Next to test whether the Gross Profit Margin variable is an indicator of economic performance variables in influencing the value of the company. The research was conducted on the Go Public Company at IDX and its research samples are the basic and chemical industrial sector manufacturing companies that have reported performance in the Sustainbility report of 2018. The triple bottom line performance variables are measured by the GRI G-4 index while the company's value is measurable with the value of Tobin's Q. Data obtained by documentation techniques. Data analysis with a discriptive and quantitative approach. Subsequently tested with PLS analysis for model design purposes. The results showed that triple bottom line performance was influential in the company's value. The next result is that the gross profit margin can be a measure of economic performance in influencing the value of the company

The Business Case for Democracy

I present a business case for democracy, focusing on the impact of democracy on economic growth. This relationship is widely studied, and results are less clear for growth than many other development outcomes such as literacy or infant mortality. I discuss four factors pertaining to data quality and modelling choices, suggesting that several previous studies have underestimated the growth-benefits of democracy. I also discuss the relationship between democracy and economic crises and variation in economic performance. By mitigating abysmal economic outcomes and ensuring more stable performance, democracy is generally of benefit to risk-averse entrepreneurs, investors, workers, and consumers alike.

Opportunities and challenges for the growth of milk production from pasture: The case of farm systems in Uruguay

Volatility of markets and climate are driving exporting dairy industries to increase milk production from pasture. However, some regions are not able to grow due to economic, social and environmental constraints. The objective of this study was to analyse at the farm system level the opportunities and challenges for the growth of pasture-based dairy production in Uruguay. A national database of 256 dairy farms was used to compare four groups of Uruguayan farms selected according to the total milk production growth rate from 2013 to 2017. Their productivity (milk production per hectare) and profit was compared by fitting mixed models. Complementarily, the International Farm Comparison Network database was used to compare biophysical and economic indicators of typical farm systems of Argentina, Australia, Ireland, Holland, New Zealand, United States and Uruguay from 2013 to 2017. The growing groups of farms (medium and high growth; >5% per year) showed more productivity due to their higher stocking rate and achieved a higher margin over feed cost and a lower feeding cost per L of milk than the shrinking groups (medium and high decrease; <0% per year). The growing systems showed a higher consumption per hectare of home-grown forage (pasture and conserved forage) and supplements. Margin over feed cost decreased alongside milk price over the time frame analysed, with no significant interaction between group and year. Productivity in New Zealand, Australia, United States and Holland was above 10,000 L/ha whereas in Ireland, Argentina and Uruguay it was below 7000 L/ha. Consumption of home-grown forage per hectare in the former countries more than doubled the latter, which consumed approximately half the potential forage production locally reported. Home-grown forage consumption per hectare was a more likely driver of productivity than bought-in feed or feed conversion efficiency. Uruguay achieved the lowest cost of production however current low stocking rates (0.7 cows/ha for the typical farm system) limit home-grown forage consumption and productivity growth. Inter-annual variation in economic performance was larger than the variation in biophysical performance for all countries. This study showed that pasture-based farming systems in Uruguay could make a leap in milk production without losing competitiveness by doubling their home-grown forage consumption through increased stocking rates. For such growth, some future challenges will remain around managing P accumulation and runoff in intensifying farms as well as improving farm design and infrastructure to attract labour, improve its productivity and assure animal welfare.

Macroeconomic Indicators and Economic Performance in Selected Sub Sahara African Countries: Panel Generalized Method of Moment Approach

This study empirically examined the effect of macroeconomic indicators on economic performance of selected sub Sahara African Countries between 1990 and 2017. The study employed four variables: GDP growth rate, Inflation rate, Monetary policy rate and Exchange rate and panel unit root test using two criteria to test for stationarity, panel cointegration test was also conducted to test for long run cointegration between the variables employed and Generalized Method of Moment method of estimation was employed to check the relationships between the variables. The results of the panel unit root test result from the LLC and IPS methods shows that the order of integrations mixed with some of the variables being stationary at levels (GDPgr and INFL) and first difference (MPR and EXHR) at the same time. The result of Pedroni cointegration test indicated the bivariate long-run cointegration equation between the variables employed. The GMM result revealed that all explanatory variables accounted for 23% variation of Economic performance in SSA. However, the study made the following policy implications: More balanced but flexible approach towards the MPR should be embraced to allow more room for impressive economic growth in these countries. Macroeconomic policy decision is not enough to stimulate growth in the economy of any nation. The interplay of fiscal instruments and monetary instruments backed with political will of the government on genuine implementation of well-thought out programmes can be employed as the antidote to ensure that the macroeconomic objectives are achieved both in the short and long-run.

Relaciones técnico-económicas de la apicultura pampeana a través de correlaciones canónicas

This study explores the relationship among size and productivity variables with the economic performance of beekeeping. For thi purpose, 40 production units located in La Pampa were analyzed. The results obtained from the canonical analysis indicate a strong positive correlation between the economic performance variables and the size of the production unit. Therefore, any variation that occurs in the size of the farm should produce a change in the same sense of economic performance. This suggests that most beekeepers produce at increasing returns to scale.

Design, innovation, and rural creative places: Are the arts the cherry on top, or the secret sauce?

ObjectiveCreative class theory explains the positive relationship between the arts and commercial innovation as the mutual attraction of artists and other creative workers by an unobserved creative milieu. This study explores alternative theories for rural settings, by analyzing establishment-level survey data combined with data on the local arts scene. The study identifies the local contextual factors associated with a strong design orientation, and estimates the impact that a strong design orientation has on the local economy.MethodData on innovation and design come from a nationally representative sample of establishments in tradable industries. Latent class analysis allows identifying unobserved subpopulations comprised of establishments with different design and innovation orientations. Logistic regression allows estimating the association between an establishment’s design orientation and local contextual factors. A quantile instrumental variable regression allows assessing the robustness of the logistic regression results with respect to endogeneity. An estimate of design orientation at the local level derived from the survey is used to examine variation in economic performance during the period of recovery from the Great Recession (2010–2014).ResultsThree distinct innovation (substantive, nominal, and non-innovators) and design orientations (design-integrated, “design last finish,” and no systematic approach to design) are identified. Innovation- and design-intensive establishments were identified in both rural and urban areas. Rural design-integrated establishments tended to locate in counties with more highly educated workforces and containing at least one performing arts organization. A quantile instrumental variable regression confirmed that the logistic regression result is robust to endogeneity concerns. Finally, rural areas characterized by design-integrated establishments experienced faster growth in wages relative to rural areas characterized by establishments using no systematic approach to design.

The Popularity Costs of Economic Crisis under Electoral Authoritarianism: Evidence from Russia

AbstractWhile a large literature recognizes that economic crises threaten the stability of electoral autocracies, we know relatively little about how citizens form economic perceptions and how they attribute blame for worsening conditions in these regimes. To gain traction on these questions, I exploit subnational variation in economic performance across Russia's regions during a recent downturn, combining regionally representative surveys of more than 67,000 voting‐age respondents with data on growth and unemployment. Contrary to conventional wisdom that citizens are passive consumers of propaganda, I show that they extract objective economic information from personal experience and local conditions. Moreover, I find that they give greater weight to this information where regional party dominance makes economic performance a clearer indicator of the ruling party's competence and when they believe the media are biased. These results suggest limits on illiberal regimes' ability to exploit informational asymmetries to bolster popular support during economic downturns.

The Relationship between Animal Welfare and Economic Performance at Farm Level: A Quantitative Study of Danish Pig Producers

AbstractWe propose a theoretical framework for the relationship between animal welfare and the economic performance of livestock farms. We empirically analyse this relationship based on a unique dataset of randomly sampled Danish pig herds that includes information from unannounced inspections of the compliance with the animal welfare legislation. We find large variations in economic performance and animal welfare. The relationship between these two indicators is rather weak, but tends to be slightly positive. A possible explanation for our results is that management has a major influence on both economic performance and animal welfare so that good farm managers are able to meet all animal welfare regulations, while achieving a high economic performance.

GHG and cattle farming: CO-assessing the emissions and economic performances in Italy

In the last decades, the offer of animal products is more and more increasing especially in developing countries due to growing food demand and needs. The activities of the livestock sector impact on climate change with several emissions in particular, Methane (44%), Carbon dioxide (27%) and Nitrous oxide (29%). Cattle emits the highest, about 65% of the livestock production emissions; indeed feed processing and production and enteric fermentation from ruminants are the two major sources of emissions, contributing to 45% and 39% of total emissions respectively. On product-basis, milk from cows and beef are in charge to emit the most emissions. Cattle-farming for dairy and beef production is one of the main most important agricultural activities in Italy. The link between cattle emissions and economic performance is the issue that here has been addressed at the light of the societal challenge increasingly based upon bio-based economies. There are few studies regarding the GHG emissions associated with the cattle production and economic performances. Therefore, the objective of this study is to classify the cattle farm emissions respect to the economic performance variables of Italian cattle farming sector and to classify segment of firms in clusters: for these aims a CHAID decision-tree algorithm and a two-stage method of clustering was carried out. Decisional trees and cluster analysis highlight the significative links between farm emission and profitable variables. Results show the GHG emissions increase with the increase of the production amount, only if the firm handling is not efficient: indeed virtuous cattle farms present a regimented and planned resources management allowing low GHG emissions. This analysis can shed some light on the efforts for reducing GHG emissions deriving from cattle farming, and so following bio-economy pathways to actually equitable, sustainable, post fossil carbon societies.

Family influence and SME performance under conditions of firm size and age

PurposeThe purpose of this paper is to provide a better assessment of the positive impact of family influence (FI) on the performance of SMEs and investigate a possible shift with firm size (FS) and age.Design/methodology/approachThis study is based upon a large sample of 4,240 firms representative of small businesses operating in the USA. It focuses on active ownership, i.e. direct involvement of owners alongside employees as an important factor of FI and conducts hierarchical regression models with profitability as the dependent variable, FI as the independent variable, and FS/age as moderating variables. It also includes other firm characteristics as control variables.FindingsThe results show that even though active family ownership is positively associated with the profitability of SMEs, the relationship between FI and profitability is negatively moderated by FS and firm age (FA).Research limitations/implicationsThe limitations of this study are mainly related to the definition of family SMEs and to the cross-sectional data used to understand the variations in economic performance. However, the results show the great importance of this kind of study; more attention must be paid to heterogeneity due to the size and age of family businesses as well as the level of owners’ involvement alongside employees.Practical implicationsPractitioners are encouraged to maintain a higher degree of family ownership combined with a higher degree of active ownership in the initial stages, when family businesses are young and small. However, the level of active ownership should be reduced when family businesses increase in age and size. According to this study, practitioners should open up businesses to external human resources other than the owners’ family as the firm increases in size/age to avoid the risks associated with family members lacking talent and/or expropriating benefits.Originality/valueThis study is one of the first to give evidence on not only a direct (and positive) relationship between FI and economic performance, but also an indirect (and negative) moderating effect of FS and FA on this relationship.

Economic performance and carbon intensity of human well-being: empirical evidence from the MENA region

Our paper explores the effect of economic performance variables on the carbon intensity of human well-being (CIWB) for 13 countries in the Middle East and North Africa (MENA) region over the period (1995–2013). We use a time-series cross-sectional Prais–Winsten regression model with panel-corrected standard errors (PCSEs). We find that economic performance has a statistically significant positive influence on CIWB over the period in question; thus, economic performance harms the environment, but the final effect deviates to a constant level after a while. This finding is not encouraging from the economic sustainability point of view. On the contrary, we find that total health expenditure has a statistically significant negative impact on CIWB by increasing life expectancy, which means less stress on the environment.

Private Sales Clubs: A 21st Century Distribution Channel

Private sales clubs are a novel service institution arising out of the Internet's ability to allow an exclusively online channel to distribute out of season or out of fashion inventories to a large set of customers. They have become a thriving industry in the 21st century. In this paper we enhance understanding of this technology mediated institution as a distribution channel. Furthermore, we show how to measure the impact of the distribution services it provides through the Internet on customer satisfaction and of the latter on economic performance. We rely on the technique of quantile regressions in this endeavor. The latter allows for asymmetries in the response function that have been noted as a major issue to be addressed in the analysis of both customer satisfaction and economic performance variables. Our most important empirical finding is that the distortions introduced by ignoring asymmetries in the response function with respect to customer satisfaction are extremely misleading for managers of private sales clubs.