Fixed Effect Method Research Articles

Manufacturing output and extreme temperature: Evidence from Canada

AbstractThis paper analyzes the effects of extreme temperature on manufacturing output using a data set covering the universe of manufacturing establishments in Canada from 2004 to 2012. Extreme temperature can affect manufacturing activity directly through its impact on labour productivity and indirectly through a change in demand for products. Using a panel fixed effects method, our results suggest a non‐linear relationship between outdoor extreme temperature and manufacturing output. Each day where outdoor mean temperatures are below °C or above 24 °C reduces annual manufacturing output by 0.18% and 0.11%, respectively, relative to a day with mean temperature between 12 ° and 18 °C. In a typical year, extreme temperatures, as measured by the number of days below °C or above 24 °C, reduce annual manufacturing output by 2.2%, with extreme hot temperatures contributing the most to this impact. Given the predicted change in climate for the mid‐ and end of century, we predict annual manufacturing output losses due to extreme temperature to range between 2.8% and 3.7% in mid‐century and 3.7% and 7.2% in end of century.

Synergy effect of talent policies on corporate innovation-Evidence from China.

The talent policy is a powerful tool for the government to implement and the talent is the key resources attributed to corporate innovation. Different types of talent policy instruments need to be synergistically combined to promote corporate innovation. By using the sample of China's listed companies during the period 2007-2020, this paper applies the multidimensional fixed-effect OLS method to explore the impact of different types of talent policies and talent policy mixes on corporate innovation, and adopts threshold regression model to detect the threshold effect of talent gathering in the framework of government-enterprise interaction. The results are shown as follows: The supply-side talent policy (STP), demand-side talent policy (DTP), and environmental-side talent policy (ETP) all positively affect corporate innovation. Talent policy mixes have a significant synergy on corporate innovation. And the effect of STP- DTP-ETP mixes is greater than that of any two types of talent policy mixes. Talent gathering has a threshold effect on the relationship between STP-DTP-ETP mixes and corporate innovation. Our study provides empirical evidence of the positive impact of different types of talent policy and their mixes on corporate innovation and enriches the literature related to talent gathering.

Does Governance in MENA Countries Attract Migrants' Remittances?

Over the past years, international remittance of migrants to the Middle East and North Africa (MENA) has increased dramatically and become more resilient external financing sources than other capital flows, such as FDI, portfolio investment, and foreign aid. Nevertheless, the magnitude of remittances flowing into that region is less than expected. The research, hence, attempts to analyze the impact of governance on the volume of remittances in receiving economies in MENA from 1996 until 2020 by using the pooled mean group, mean group, and dynamic fixed effect methods. The results show that poor governance in MENA stimulates migrants to remit more to support and assist their relatives with their deplorable living conditions. Consequently, policymakers in the MENA region must strive to identify the underlying causes of weak governance and provide applicable solutions, as migrants' remittances cannot entirely eradicate the damage caused by the poor quality of governance. They also should provide an attractive environment for international remittances by applying policies pushing migrants to remit more, such as accelerating administrative procedures for business and increasing the interest rate on foreign currency deposits.

Assessing intellectual capital performance of banks during COVID-19: Evidence from China and Pakistan

<abstract> <p>Using quarterly data from 2019Q1 to 2020Q3, this study aims to examine the impact of COVID-19 on intellectual capital (IC) performance of banks operating in China and Pakistan. Based on the data of 34 Chinese and 41 Pakistani banks, this study applies the fixed effect method to examine this relationship, and the value added intellectual coefficient (VAIC) model is used to measure IC performance. The study shows a negative but insignificant influence of COVID-19 on IC performance of the banking sector in both countries. Likewise, the findings exhibit that IC components show resilience against COVID-19 and are slightly influenced by this crisis. The results are also consistent in robustness check. The cross-country comparison suggests that the performance of IC components in the Pakistani banking sector is higher compared to China. This is the first study that examines the impact of COVID-19 on IC performance of banks, and it might provide insights regarding the influence of crises such as COVID-19 on IC performance of banks in emerging economies.</p> </abstract>

Does Doing Good Diminish Cost of Capital? Evidence From South-East Asia Markets

Purpose: The ultimate goal of this study is to reassess the impact of ESG on the cost of capital. Methodology: This work is quantitative type using secondary data collected by Thomson & Reuters and World Bank. There are 247 sample companies in the 2009 – 2021 period spread across five Southeast Asian countries. The research uses the fixed effect method at the industrial level and the instrumental variable regression technique, which is estimated using the generalized moment (GMM) method to accommodate endogeneity. Findings: The ESG, ENVI, and SOCI coefficients are negative and statistically significant at the 1% level, further confirming that ESG performance is negatively associated with the cost of capital. Environmental and social aspects determine the level of the cost of capital. Meanwhile, governance issues are not a determining factor that can reduce the cost of capital. Novelty: Numerous studies have revealed inconclusive outcomes regarding the effectiveness of ESG in decreasing the cost of capital, particularly in Asian nations owing to their subpar institutional quality. This research seeks to bridge this gap by examining this relationship in the Southeast Asian countries. Keywords: Environment, Social, Governance, Cost of Capital, South-East Asia

What are the Determinants Affecting the Financing Risk in Indonesian Sharia Rural Banks?

Rapid and dynamic changes in the financial and economic systems are posing various risks and instabilities to Islamic banking institutions. Therefore, this study aims to investigate the impact of macroeconomic factors and bank abilities on financing risk in Indonesia. In this analysis, the 2005-2019 sharia banking statistics at 92 rural banks were emphasized in the country. A panel data regression was also employed with the fixed effect method during the experimental procedure. The results showed a negative and significant relationship between economic growth, FDR (financing to deposit ratio), and CAR (capital adequacy ratio) toward financing risk. Moreover, a positive and significant relationship was found between the benchmark loan rate on financing risk, although inflation had no significant effect. Economic growth was also a key factor influencing financing risk in the sharia rural banks sector. Based on these results, banking regulators were found to operate according to sharia principles, to selectively optimize and carefully monitor financial distribution and activities with high financing risk.

COVID-19 AND THE PERFORMANCE OF ISLAMIC BANKS IN INDONESIA

Covid-19 has an impact on the profitability of Islamic Banks in Indonesia. Islamic banks' profitability in Indonesia tends to decline during a covid-19 outbreak. Although declining, the profitability indicators measured by Return on Asset and Net Operating Margin are more stable than Return on Equity. The average Return on Equity declined sharply in the fourth quarter of 2021. This study aims to analyze the determinants of the profitability of Islamic banks, including internal bank factors and macroeconomic indicators during the covid-19 outbreak. This study uses a quantitative approach with the fixed effect method. This study employs panel data from 8 Islamic commercial banks from 2020q1 to 2021q4. The results show that capital adequacy, disbursed financing, and operational efficiency has a negative and significant effect on the profitability of Islamic banks. Financing risk and bank size have no significant effect on the profitability of Islamic banks. Macroeconomic indicators such as economic growth, inflation, interest rates, and exchange rates have no significant effect on the profitability of Islamic banks. During the covid-19 pandemic, to increase profitability, banks need to reduce the capital and financing provided to customers. On the other hand, to increase profitability, Islamic banks need to reduce unnecessary costs so that income is not eroded. Macroeconomic indicators do not influence the performance of Islamic banks. This shows that Islamic commercial banks are more resistant to economic turbulence.

How Does ESG Affect the Stock Prices of Financial Institutions in China?

Purpose - As “green growth”, “sustainable development”, and “carbon peaking” frequently come up, research on the environment, society, and corporate governance (ESG) is gradually increasing. This study aims to explore how ESG affects the stock prices of financial institutions through empirical analysis, and how the attention of newspapers, magazines, and online media, as well as the number of shareholders, affect the relationship between the ESG performance and stock prices of financial institutions. Design/Methodology/Approach - This study uses a fixed-effect regression method to conduct an empirical study on the data of financial institutions listed on China’s A-shares from 2015 to 2020. Findings - The research conclusion shows that the better the ESG performance of financial institutions in China, the higher the stock price of financial institutions. At the same time, newspapers and periodicals, online media, and the number of shareholders play a positive regulatory role in the mechanism by which ESG performance promotes stock prices. Research Implications - This article enriches the relevant research in the field of ESG, especially research on the ESG performance and stock price of financial institutions with less research, fills the gaps in research in related fields, and provides a theoretical basis.

The Impact of Multi-Layer Corporate Governance on Banks’ Performance under the GFC and the COVID-19: A Cross-Country Panel Analysis Approach

This paper examines the impact of multi-layer corporate governance (MCG) on banks’ performance under the global financial crisis (GFC) and COVID-19. Using a random and fixed effects method, we regressed the impact of MCG variables on return on assets (ROA), return on equity (ROE), and non-performing loans (NPL) of a panel data of 44 conventional banks (CBs) and 40 Islamic banks (IBs), across 17 countries, and over the period from 2006 to 2020. The results show that board of directors (BoD)’ structure has no association with CBs performance whereas the chief executive officer (CEO) duality is strongly negatively impacting CBs performance, especially during the GFC. In addition, supervision framework proxies have a strong positive influence on CBs performance, especially in the period after the GFC. Furthermore, cross-membership and the size of the Shariah board (SB) have a significant negative influence on IBs’ performance, but SB qualification has a positive non-significant impact overall—with the exception of NPLs, which had a positive significant impact during the GFC. The supervision position has a favorable impact on IBs performance except during crises.

Unveiling the linkage between hydropower growth and tourism sustainability in EU27 region: An empirical analysis

AbstractHydropower comes with a lot of inestimable values. It is indubitably an eco‐system‐friendly resource that causes no harm to the natural state of the environment. This creates a better alternative to the heat energy radiating the earth. It is a cost‐efficient source of energy and it offers unique opportunities to have cost‐efficient tourism sector management in the EU region centers. The primary objective of this research is to determine the effect of hydropower output on tourism sustainability in the European Union (EU 27) states from 1990 to 2021. The autoregressive distributed lag (ARDL) was adopted for this study. Findings from this study show that a significant increase in the tourism sector growth can occur in EU14 emerging economies using hydropower output and economic growth variables than in EU13 emerging economies. In addition, among other variables captured in this study, population density and good governance were seen to have a higher level of contribution to tourism sector growth in EU14 emerging economies than in EU13 emerging economies. It was also found that a significant increase in the tourism sector growth could be achieved in the EU13 emerging economies due to the high consumption of fossil fuels than in EU14 emerging economies. This finding implies that the EU27 could achieve sustainability in their tourism sector significantly through the substitution of fossil fuel output with hydropower. This will foster the attainment of Energy Union aims by 2030. It is also a good way to combat climate change and environmental pollution. Using the pooled mean group (PMG), mean group (MG), and dynamic fixed effect (DFE) methods, the projected calculations were seen to be valid. The study, therefore, recommended that EU27 countries should prioritize hydropower in their pursuit of renewable energy production as this will help them to achieve sustainability in their tourism sector and become secure in their energy need now and in the future time. The government, Politicians, and all other concerned stakeholders in the EU27 countries should strive towards replacing fossil fuels with hydropower. This will help to ensure sustainability in their tourism sector and there will be security in the energy sector of these EU27 Countries.

Analysis of financial performance determinants: evidence from Slovak agricultural companies

Purpose. The purpose of the present study is to examine the determinants of the financial performance of the Slovak agricultural companies.
 Methodology / approach. Bibliometric analysis was applied to analyze the literature, the results of the review were visualized using VOSviewer software. Panel data regression analysis, which was carried out using the GRETL software, was chosen to be the main research method for analyzing the influence of determinants on financial performance measures. 527 Slovak agricultural companies’ activity over the period 2015–2019 was chosen as the object of the study. The analysis is carried out based on the publicly available financial information (financial statements, management reports, official company websites) and information available in the “FinStat” database. Regression analysis was performed according to four developed models based on the use of four different dependent variables (Return on Assets (ROA), Net Profit Margin (NPM), Return on Equity (ROE), Return on Sales (ROS)) and 10 independent variables same for all the models (Leverage, Long-Term Debt to Assets, Short-Term Debt to Assets, Debt to Equity, Capital intensity, Tangibility of Assets, Current Ratio, Size, Dummy variable for type of ownership, Dummy variable for legal form). Fixed Effects Method was chosen as an estimate panel data parameter on the base of F-statistics test, Breusch-Pagan test, and Hausman test use.
 Results. The obtained results confirm the hypothesis about the existence of a distinctive impact of financial performance determinants due to the availability of the specific environment and features typical for the Slovak agricultural sector. None of the independent variables applied has a significant effect simultaneously on Models 1–4. We observed a negative significant impact at the 1 % level of l_Size on ROA and ROE of the Slovak agricultural companies. CapInt also has a negative significant impact on NPM and ROE. DtoE is found to have a positive impact on ROE. The complete lack of influence of AsTang in determining financial performance was revealed. The used dummy variables (DVTO, DVLF) were excluded from the composition of Models 1–4 during the regression analysis due to the availability of exact collinearity.
 Originality / scientific novelty. The uniqueness of the present study is that we identify the impact of the financial performance determinants specifically for the Slovak agricultural companies considering the specifics of the Slovak agricultural market in the context of the current problems in the sector of the economy being investigated.
 Practical value / implications. The obtained results can be used to improve the management decisions of the Slovak agricultural companies, to critically evaluate the state policy in the agricultural sector in the Slovak Republic, as well as clarify the recommendations given by various institutions to improve this sector of the economy.

Relationship between households’ share of food expenditure and income across South African districts: a multilevel regression analysis

This paper investigates the relationship between household income and the share of food expenditure in South Africa using clustered household income and socio-economic data published in the National Dynamics Income Study. To achieve this objective and because of the clustered nature of the data, a multilevel linear model, in particular, the random intercept model, was employed as a suitable method of investigation. Fixed effect methods were also used to compare results. The results confirmed that the share of household food expenditure is inversely related to household income in a district. This finding is consistent with Engel’s law, such that an increase in household income is related to a decrease in the proportion allocated to food items by a typical household within a district. It was found that the relationship between household income and food expenditure does not vary across districts. The finding also pointed out that the district context matters because the district’s average household income significantly explains the share of food expenditure at the household level.

Examining Flypaper Effect in Indonesia: Evidence After Transferring Urban-Rural Land and Building Tax to Locals Government

In order to increase the tax power of local governments, the central government implemented a major reform in 2010 by transferring the Urban-Country Land and Buildings Tax (PBB-P2) to local governments. Although the tax contributes a significant portion of local government revenues, the spending behavior of local governments is questionable, and it is unclear whether public spending has been increased. This study examines the effect of strengthening PBB-P2 policy on increasing local revenue (PAD) and its impact on regional spending patterns, specifically whether there are still flypapers after policy reform. Applying a fixed-effects panel data method to Indonesian local governments from 2005 to 2020, we found that strengthening PBB-P2 policy had a significant positive impact on PAD. The positive effect was found to be significant one year (year +1) after policy implementation in each region, including for the province, district, and city, with the issuance of regional ordinances related to PBB-P2. Interestingly, the significant increase in PAD impacted regional spending patterns. Thus, the flypaper effect phenomenon did not exist from 2005 to 2020. This implies that the central government can selectively empower local governments to levy appropriate local taxes and user fees. This can be done by providing new local tax sources, restructuring tax types, simplifying usage fee types, and harmonizing regional government regulations with the central government.

The role of information and communication technologies in achieving hydropower sustainability: Evidence from European Union economies

This study aims to investigate the impacts of information, communication, and technology (ICT) factors and economic growth on the hydropower output in the European Union (EU) states from 1990 to 2021. Adopting the autoregressive distributed lag, findings from this study revealed that there could be a significant increase in the hydropower industry growth in EU14 emerging economies using ICT factors than in EU13 emerging economies. It was also discovered that economic growth makes more of a significant contribution to hydropower growth in EU13 emerging economies than in EU14 emerging economies. Findings from this study further revealed that there could be a significant decrease in the carbon dioxide emissions among the EU14 emerged economies using hydropower output than in EU13 emerging economies. This points to the fact that hydropower growth in EU region countries could significantly be enhanced by increasing the level of ICT determinants to achieve Energy Union aims by 2030. This will as well be effective in minimizing or reducing the risk effect of climate change and environmental pollution. Using the pooled mean group, mean group, and dynamic fixed effect methods, the projected calculations are observed to be valid and this study recommended that EU nations should intensify the use of ICT in achieving sustainable environmental and societal goals. The sustainability and security of hydropower production could also be enhanced through legislation. Lawmakers should become active in the green ICT aspects.

The Effect of Face Mask, Air Temperature, and Humidity on COVID-19 Transmission: A Systematic Review and Meta-analysis

Context: At the beginning of the COVID-19 pandemic, the effects of personal protective equipment (PPE) such as face masks, as well as environmental conditions, including temperature and humidity changes, were discussed due to the lack of effective medicine. Methods: The preferred reporting items for systematic reviews and meta-analysis (PRISMA) were implemented to conduct the present systematic review. The articles were selected from papers published by May 2020 in PubMed, Web of Science, Science Direct, Scopus, and Google Scholar databases. This meta-analysis estimated relative risk (RR) and pooled mean depicted as effect size (ES) using the random or fixed effects methods. Results: Ten studies met inclusion criteria, four of which addressed the effect of face masks and six of which dealt with temperature and humidity changes. This eta-analysis study showed that wearing face masks against the COVID-19 virus had a remarkable safety impact with RR (%95 CI) 8.56 (2.10 - 34.90), (I2 = %0.0 P = 0.999), and the pooled mean changes in temperature and humidity were estimated to be with ES (%95 CI) 9.03 (4.32 - 13.74), (I2 = %99.7, P < 0.0001) and with ES (%95 CI) 56.82 (46.12 - 67.51), ( I2 = %99.3, P < 0.0001) during the outbreak of the COVID-19. Conclusions: The findings of this systematic review and meta-analysis illustrate the effectiveness of face masks, in general, in preventing the transmission of the COVID-19 virus. According to the findings, temperature and humidity changes do not increase the outbreak of the COVID-19 virus.

Corporate social responsibility disclosure and banks' performance: the role of economic performance and institutional quality

PurposeThis study aims to examine the moderating role of a country's economic activities and institutional quality (IQ) on the relationship between corporate social responsibility disclosure (CSRD) and banks' operational, financial and market performance.Design/methodology/approachThis study examines 245 banks from emerging markets for 13 years (2008–2020), yielding unbalanced panel of 1899 bank-year observations. The independent variable is CSRD. The dependent variables are return on asset (ROA), return on equity (ROE) and Tobin Q. The authors used ordinary least square (OLS), panel fixed-effect and instrumental variables-generalized method of moments (IV-GMM) to estimate the parameters of the models.FindingsThe authors find that the CSRD scores negatively influence banks’ performance. The moderator of CSRD and the level of economic activities have a positive relationship with banks' performance. However, the moderator (CSRD and IQ), while showing positive relationship with banks' performance, has a significant effect only on banks' operational and financial performance.Originality/valueThis study provides new evidence on the ways in which economic performance and IQ (IQ) influence the CSRD practices of banks in emerging markets.Peer reviewThe peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-11-2020-0757.

Dietary niacin intake and risk of dyslipidemia: A pooled analysis of three prospective cohort studies

Although the pharmacological effect of niacin in lowering blood cholesterol and triglyceride levels has been demonstrated in several clinical studies, information regarding the effect of dietary niacin intake is uncertain, and the longitudinal association between dietary niacin intake and the risk of dyslipidemia has not been adequately studied. We analyzed data from three community-based cohort studies in Korea, including 211,567 participants aged ≥40 years. Dietary niacin intake was estimated using a validated semi-quantitative food frequency questionnaire, and the occurrence of dyslipidemia was confirmed through surveys during the follow-up period. We applied Cox proportional hazard regression to calculate the cohort-specific hazard ratio (HR) and 95% confidence interval (CI) for dyslipidemia and pooled the results using the fixed-effects method. Higher dietary niacin intake was associated with a reduced risk of dyslipidemia (pooled, multivariable-adjusted HR: 0.71, 95% CI: 0.62-0.82). Compared with the group whose dietary niacin intake was above the recommended dietary allowance in Korea, the risk of dyslipidemia increased by 32% (pooled, multivariable-adjusted HR: 1.32, 95% CI: 1.19-1.46) in the group below the estimated average requirement in Korea. Spline regression showed a dose-response linear relationship between dietary niacin intake and the risk of dyslipidemia (all p-values for nonlinearity >0.05). Consumption of foods with high niacin levels may help prevent or delay the onset of dyslipidemia.

Effect of sectoral foreign aid allocation on growth and structural transformation in sub-Saharan Africa—Analysing the roles of institutional quality and human capital

The study analyses the effectiveness of aggregate as well as sectoral foreign aid on growth and structural transformation for 32 sub-Saharan African (SSA) countries over the period from 2002 to 2019. For this purpose, a structural transformation index (STI) has been constructed using the value-added and employment shares of the economy. There is a lack of studies in the aid effectiveness literature that examine the effects of sectoral aid on overall growth and development of the economy. Comparing the effectiveness of different types of aid on growth and structural transformation is a novel approach. In this analysis, we also take into account the roles of institutional quality and human capital on aid effectiveness. To this end, we have used Driscoll–Kraay Fixed-Effect estimators, Fixed-Effects Panel Threshold regression and Method of Moments Quantile regression to analyse the effectiveness of aggregate and sectoral foreign aid. Our estimation techniques are robust to cross-sectional dependence and slope heterogeneity. We find that both agricultural and social-sector aid have positive significant effects on growth but negative significant effect on structural transformation. This suggests that foreign aid should be increased in these sectors, conditioned by the level of institutional quality. Human capital is found to increase the effectiveness of foreign aid. Aid to economic infrastructure is the only type of aid which is found to increase structural transformation significantly. This study helps in designing aid allocation strategies, so as to promote both growth and structural transformation in the SSA countries.

Birth order and sickness absence: register-based evidence from Finland

Abstract Background In working ages, sickness absence is strongly related to persons’ health condition. We studied how birth order was associated with receipt of sickness absence, distinguishing mental disorders, musculoskeletal disorders and injuries. Methods A follow-up study based on the entire Finnish population was conducted for sibling groups born 1969-1982, in which each sibling was observed from age 35 years in the period 2004-2018. Focus was on within-family variation in first-time sickness allowance receipt. Stratified Cox regressions were estimated using Stata 16. Results Each increase in birth order was associated with a higher risk of sickness absence. For mental disorders, the hazard ratio as compared to first borns was 1.03 (95% CI: 0.98, 1.08) of second borns, 1.10 (95% CI: 0.99, 1.22) of third borns, and 1.52 (95% CI: 1.25, 1.85) of fourth or higher borns. Corresponding numbers for musculoskeletal disorders were 1.12 (95% CI: 1.07, 1.17), 1.19 (95% CI: 1.09, 1.30) and 1.15 (95% CI: 0.96, 1.38), and for injuries 1.06 (95% CI: 1.01, 1.12), 1.09 (95% CI: 1.21, 1.14) and 0.96 (95% CI: 0.77, 1.20), respectively. These associations were notably stronger for women than men, but modestly influenced by mother’s age at birth, educational level, occupation, income and family composition. Conclusions The study was the first to provide evidence about an interrelation between birth order and sickness absence, utilising diagnose information and family fixed effects methods. A clear birth order pattern was observed for these main causes, but not for a residual group that consisted of other miscellaneous causes. Higher birth order was found associated with a higher risk of sickness absence, and particularly so for mental disorders and muscoloskeletal disorders in women. The underlying mechanisms behind these associations constitute an avenue for future research. Key messages • Using sibling fixed effects, the study was the first to analyse if sickness absence by main cause is associated with birth order in working ages. • First-born siblings were the least likely to be sick because of mental or musculoskeletal disorders, and the associations were notably more accentuated for women than men.

The Network Relative Model Accuracy (NeRMA) Score can quantify the relative accuracy of prediction models in concurrent external validations.

Network meta-analysis (NMA) quantifies the relative efficacy of three or more interventions from trials evaluating some, but usually not all, treatments. This study applied the analytical approach of NMA to quantify the relative accuracy of prediction models with distinct patient applicability that are evaluated on the same population ('concurrent external validation'). We simulated binary events in 5000 patients using a known risk function. We biased the risk function and modified its precision by pre-specified amounts to create 15 prediction models with varying accuracy and distinct patient applicability. Prediction model accuracy was measured using the Scaled Brier Score (SBS). Overall prediction model accuracy was measured using fixed-effects methods accounting for distinct model applicability patterns. Prediction model accuracy was summarized as the Network Relative Model Accuracy (NeRMA) Score which increases as models become more accurate and ranges from <0 (model less accurate than random guessing) through 0 (accuracy of random guessing) to 1 (most accurate model in concurrent external validation). The unbiased prediction model had the highest SBS. The NeRMA score correctly ranked all simulated prediction models by the extent of bias from the known risk function. A SAS macro and R-function was created and available to implement the NeRMA Score. The NeRMA Score makes it possible to quantify the relative accuracy of binomial prediction models with distinct applicability in a concurrent external validation.