Method Of Moments Research Articles

THE RELATIONSHIP BETWEEN JOB CRAFTING AND WORK LIFE BALANCE IN CIVIL SERVANT TEACHERS AT SMA NEGERI 1 LUBUK ALUNG

The purpose of this study is to see if there is a relationship between job crafting and work-life balance in civil servant teachers at SMA Negeri 1 Lubuk Alung. This research is quantitative with a correlational approach. The subjects of this study are 44 civil servant teachers at SMA Negeri 1 Lubuk Alung. The data of this study was collected using a likert scale consisting of two scales, namely the work life balance scale and the job crafting scale. The research sampling technique is using total sampling.The data analysis method used in this study is Pearson's Product Moment method. The results of the study showed that there was a positive relationship between job crafting and work-life balance in civil servant teachers at SMA Negeri 1 Lubuk Alung. The correlation test produced a correlation coefficient of 0.403 and a significance level of 0.007. Job crafting contributes 16.3% to the work-life balance of civil servant teachers at SMA Negeri 1 Lubuk Alung.

The empirical measurement of competition and digitalization for the banking sector of Kyrgyzstan: Impacts of efficiency, profitability, and stability

This study investigates the competitive dynamics and digitalization within Kyrgyzstan's banking sector. The study analyzes the interplay between bank competition, digitalization, profitability, and stability using the two-step Generalized Method of Moments. Banking competition is assessed from 2012 to 2022 via the Lerner Index and the Boone Indicator. Furthermore, a novel method is employed to estimate the bank digitalization index based on the System Dynamics Approach. Findings indicate a competitive landscape marked by monopolistic competition, where digitalization enhances operational efficiency and competitive advantage. However, increased market power inversely affects digital adoption, suggesting monopolistic banks innovate less than their competitive peers. Further, the study highlights that intensified competition and digital adoption may encourage riskier bank behaviors, aligning with competition-fragility theory. Digitalization improves profitability, advocating for banks to adopt innovations to surpass competitors and improve financial performance. Policymakers are advised to foster a balanced competitive environment that encourages innovation without compromising bank stability.

Discretization of Continuous Spaces using Barycentric Subdivision Method with Metric Space Constraints on the Nearest Neighbour Edges

The Rao-Wilton-Glisson (RWG) is a commonly used basis function in the numerical solution of the electric field integral equation (EFIE) using the Method of Moments (MoM) and Galerkin approach. This method relies on triangular patches to approximate the surface current. Traditionally, barycentric subdivision of a primary triangle into n-sub-triangles has been used with RWG basis function to solve the EFIE using MoM. This paper presents a method of approximating a surface using triangular patches by sub-dividing a primary triangle into (2n-1) subtriangles. which creates a denser mesh than the widely used nine (9) points quadrature method. The structure is approximated by small square patches, which are further sub-divided into two primary triangles. By applying barycentric sub-division, the primary triangles are decomposed into sub-triangles to create a mesh over the surface of the structure. Using graph theory, the triangular meshes are defined by the function, G (V, E), where V and E are the vertices and edges of the triangles in the mesh space, respectively. The connectivity matrix of shared edges is found by imposing a constraint on the edge length using metric spaces. This method approximates a square patch with 32 scalene triangles and shows that it can be used to reconstruct equilateral patches and doubly split double ring into mesh structures.

Significance of different probability distributions in flood frequency analysis of Brahmani-Baitarani River Basin, India

Appropriate flood management in a basin requires analysis of peak discharge prediction and flood frequency. The main aim is to find the most suitable distribution model at various gauges for the entire Brahmani-Baitarani River basin for proper flood management. Daily flow data lengths ranging from 23 to 46 years for multiple gauges are obtained from the Central Water Commission. The present analysis employs the Generalized Extreme Value (GEV), Gumbel Max, Log-Pearson III (LP3), and Lognormal models to estimate the flood quantiles of various return periods. The L-moment, Method of Moment, and Maximum Likelihood Method are applied to estimate the model parameters. Goodness-of-fit tests, accuracy measures, and relative scoring indicated LP3 as the best-fit model, followed by GEV. The results indicated that floods with return periods of longer than 100 years can be considered for designing hydraulic structures in the upper reaches of the basin, whereas floods with return periods of longer than 50 years can be considered for the lower reaches. Significant constraints in the present study involve a limited number of gauges and their varied record lengths in this extensive basin. The findings of this study can be used in water resource planning, flood hazard mapping, and the design of hydraulic structures within similar catchments.

Public spending and sustainable economic development

Purpose Despite the increase in public spending by Sub-Saharan African (SSA) Governments in a bid to foster the growth of human capital and sustainable development, they continue to experience a very slow rate of progress. This study aims to investigate the impacts of public spending on sustainable economic development in SSA. Design/methodology/approach The study adopts the system generalized method of moments to account for cross-sectional dependence and endogeneity for 38 SSA countries from 1996 to 2019. Findings The findings indicate that public spending inhibits sustainable economic development while human capital enhances sustainable economic development in SSA. Furthermore, the study equally reveals that the development-inhibiting role of public spending is modulated through human capital and governance quality. Public spending interacts with human capital and governance quality to produce negative net effects and positive synergy effects, respectively. Originality/value Based on these findings, the study suggests that governments in SSA countries should discourage heavy dependence on public spending. Policies that provide a framework for financial incentives in the domain of health and education should be encouraged to increase investment in human capital.

Quantifying the spillover effects of U.S. economic policy uncertainty on emerging market economies using GMM-PVAR model

This paper quantifies the spillover effects of economic policy uncertainty (EPU) in the United States on emerging market economies (EMEs). Using a generalized method of moments (GMM) estimation of a panel vector autoregression (PVAR) model on a dataset­ of 39 EMEs from 2005 to 2019, we find that increased U.S. EPU significantly raises the consumer price index (CPI) and negatively impacts the real GDP of these economies. Additionally, heightened U.S. EPU leads to a depreciation of emerging market currencies and a reduction in short-term interest rates. We employ a news-based EPU index developed by Baker et al. (2016) and conduct robustness checks using forward orthogonal transformation, an alternative EPU index, and by addressing the potential endogeneity of the oil price uncertainty (OPU) index. Our findings highlight the adverse effects of U.S. economic policy uncertainty on key macroeconomic variables in emerging markets, underscoring the importance of stable economic policies and robust institutions to mitigate these impacts.

Financial Openness and Income Inequality in Sub-Saharan Africa: The Role of Development Level and Access to Land

The aim of this study is to analyze the relationship between financial openness and income inequality in Sub-Saharan Africa by controlling the level of development and access to land. By applying the generalized method of moments (GMM) to a sample of 38 countries over the period 2010–2019, the main results are as follows: (i) De facto financial openness reduces income inequality, while de jure financial openness exacerbates income inequality; (ii) Access to land mitigates the effect of de jure openness on income inequalities; (iii) the income level amplifies the effect of reducing financial openness on income inequalities. It follows from these results that access to land can be an excellent instrument for reducing income inequality at the national level due to the reduction of the income gap between rural and urban areas.

Does financial expertise influence Islamic bank risk-taking?

PurposeThis study investigated how the financial expertise of the board of directors, risk management committee (RMC), audit committee (AC) and Shariá Supervisory Board (SSB) influences the risk-taking of Islamic banks.Design/methodology/approachThe study utilized unbalanced panel data for a sample of 43 full-fledged Islamic banks from 15 countries over 12 years (2010–2021). We employed feasible generalized least squares (FGLS) and heteroskedastic panels corrected standard errors (HPCSE) regression regressions as the primary estimation methods and used a two-step system generalized method of moments (GMM) estimator for robustness checks.FindingsThe results indicate that board financial expertise decreases insolvency and credit risks. Similarly, AC financial expertise and SSB financial expertise reduce insolvency and portfolio risks but increase credit risk. In contrast, RMC financial expertise raises insolvency risk. The remaining relationships are statistically insignificant.Research limitations/implicationsDue to the lack of disclosure regarding the educational and professional background of the board and committee members in the annual reports of some Islamic banks, this research used a sample of only 43 full-fledged Islamic banks operating in fifteen countries from 2010 to 2021.Practical implicationsThe findings can assist both local and international regulators in revising corporate governance codes and risk management guidelines in such a way as to ensure that the financial experts appointed to the board, AC, RMC and SSB, are capable of controlling excessive risk-taking behavior in Islamic banks.Originality/valueThis study contributes to the literature by providing comprehensive empirical evidence that corporate governance financial expertise influences the risk-taking behavior of Islamic banks.

Population balance modelling and reconstruction by quadrature method of moments for wet granulation

Population balance methods utilised in multiphase flow simulations mark a significant advancement in computational fluid dynamics. However, existing approaches exhibit shortcomings, such as being prone to inaccuracies or being computationally prohibitive. Addressing these challenges, a recent innovation in closure for the method of moments is the introduction of quadrature based moments methods (QBMM). Discretising a distribution by a number of discrete elements, QBMM facilitate efficient and accurate tracking of density distributions, particularly for particle size distributions (PSD). However, obtaining the full particle size distribution information using these methods requires reconstructing the distribution from a finite set of moments, which is not a trivial step.This study introduces a novel combination of the maximum entropy reconstruction (MER) and QBMM, establishing a robust and rapid framework for the time evolution and reconstruction of PSDs. As proof of concept for this framework, we focus on the direct quadrature method of moments (DQMOM) with spatially homogeneous and monovariate distributions. We show that coupling of MER with DQMOM has numerous advantages. To verify the framework, special cases of constant growth, aggregation, and breakage are considered for which analytical solutions can be found. Furthermore, we show the advantage of using DQMOM with volume-based over length-based distributions, and address numerical as well as theoretical issues.Application of the framework is successfully conducted on the evolution of the PSD from a twin-screw wet granulation dataset, considering all active primary physical mechanisms in a wet granulation process, namely growth, aggregation, and breakage. This showcases the consistency of the proposed framework and underscores its applicability to real-world scenarios.

Advantages of Plate Antennas over Loop Antennas for Circular Polarization—Its Application in Array Antenna with a Simplified Feed

We analyze square antennas with one and quasi-two sources to reveal the relationship between loop and plate antennas. First, using the moment method, one-source antennas with corner truncation are investigated versus antenna height above the ground plane. As the height increases, the CP wave bandwidth of the plate antenna increases 17% for a 3 dB axial ratio criterion, whereas the loop antenna’s bandwidth remains less than 3%. Next, we study quasi-two-source antennas without corner truncation versus antenna height. The plate antenna’s bandwidth is found to reach 30%, which is wider than that of a loop antenna by a factor of two. Last, the plate antenna with quasi-two sources is applied in an array antenna, whose properties are compared to those of the corresponding loop antenna array. We present experimental results to verify the simulated results.

Investigating the formation of soot in CH4 pyrolysis reactor: A numerical, experimental, and characterization study

Methane pyrolysis is a promising method for eco-friendly hydrogen production, but soot formation and carbon interaction pose challenges for scaling up. Therefore, understanding the dynamics of soot formation and carbon deposition is crucial. This study delves into the intricacies of soot formation in methane pyrolysis under industrially relevant conditions, namely operations at atmospheric pressure, employing a H2:CH4 ratio of 2 and exploring a range of hot zone temperatures (1473 K, 1573 K, 1673 K, and 1773 K) with a 5 s residence time. Utilizing a detailed gas-phase kinetic model with direct carbon deposition reactions, the research adopts the method of moments coupled with a one-dimensional plug flow reactor model to simulate soot formation. The model is validated by characterizing soot particles that were produced in a pyrolysis reactor by means of transmission electron microscopy, Dynamic light scattering (DLS), and Raman spectroscopy. Results show that lower temperatures lead to nucleation-dominated growth, whereas higher temperatures significantly restrain particle growth due to carbon deposition. DLS data indicate a complex balance between particle growth and deposition processes. These findings provide insights into operational parameters that can enhance reactor performance and sustainability in hydrogen production processes by mitigating soot and carbon deposition.

Effects of board gender and foreign directorship on the financial sustainability of Saudi listed firms: Does family ownership matter?

This study investigates how family ownership may influence the effects of board gender and foreign directorship on the financial sustainability. The panel data of 103 Saudi non-financial listed companies from 2013 to 2022 was analyzed using fixed effects, and the generalized method of moments (GMM) was used for robustness test. The research findings suggest a strong and positive effect of foreign directorship on financial sustainability, consistent with the resource dependency view and agency theory. However, board gender exerts a negative and significant influence, contradicting existing theories. Further, the moderation results show that family ownership positively moderates the effects of both board gender and foreign directorship on financial sustainability. This positive moderating result supports the agency theory’s argument that robust and stringent monitoring of corporate ownership may complement boards’ functions and boost organizational efficiency. The policy decision of the findings is that setting corporate boards with a considerable ratio of foreign directors may lead to sustainable performance. Also, it implies that family ownership seems to be an essential mechanism that can neutralize the adverse effects of boardroom diversity on outcomes.

The Moderating Effect of Competition on The Leverage-Performance Relation: Evidence from Vietnam

This paper examines the moderating effect of competition on the relationship between financial leverage and firm performance in Vietnam. Using a dataset created out of 352 firms listed on Vietnam’s stock exchanges in 2015–2019, this paper estimates both the leverage-performance relation and the dependence of this nexus on market competition. The two-step system generalised method of moments is used to tackle the endogeneity, unobserved heterogeneity, and autocorrelation problems in our model estimation. The findings reveal a negative leverage-performance nexus, and increased competition hurts this relationship. In highly competitive markets, debts become more expensive, thus leading to increased financial pressures on leveraged firms. The fiercer competition also creates a risky business environment, so leveraged firms may fail when operating inefficiently and failing to satisfy their debt obligations. Given the results, this paper proposes recommendations on using financial leverage to improve firm performance.

Role of financial development and inclusivity in moderating the environmental effects of human development

The era of prioritizing economic growth, regardless of its overall impact, has ended. An integrative approach to global development that is increasingly human-centered and environmentally friendly, as well as promotes social resilience must be considered. This study assesses the beneficial role of a mature and inclusive financial architecture in environmental quality, emphasizing the impact of human development. Findings reveal that financial development mitigates the overall negative impact of human development on environmental degradation, as measured by carbon emissions and ecological footprint, in developed countries. This study raises awareness regarding the impact of human development on environmental degradation in 25 European countries between 1996 and 2019. It employs the two-step Generalized Method of Moments (GMM) as the main estimator to reveal the empirical effects, with the Driscoll–Kraay estimator serving as a robustness test. Furthermore, we explore the significance of economic freedom, renewable energy, and green innovation in curbing environmental impact.

Stock market responses to economic sanctions: Evaluating the roles of national reserves and financial market access

Economic sanctions significantly influence stock market capitalization and have critical implications for the national economy. This study investigates the impact of economic sanctions on stock market capitalization, focusing on the roles of national reserves and financial market access in mitigating these effects, utilizing a sample of 87 countries from 2000 to 2021 and employing a two-step system generalized method of moments (GMM) approach to analyze panel data. The findings reveal that economic sanctions, including trade and financial sanctions, significantly reduce stock market capitalization. However, this negative impact diminishes over time as markets adapt. Moreover, higher national reserves and enhanced financial market accessibility can mitigate the adverse effects of sanctions. Case studies in Russia, Iran, China, and Ukraine further validate these results. This study refines economic models, such as the capital asset pricing model (CAPM) and country risk model (CRM), by including sanction intensity, national reserves, and financial market accessibility, offering valuable insights for policymakers and investors dealing with international sanctions.

Dispersion of solute in a packed cylindrical tube with wall reaction

Abstract The study aims to investigate the transport of solute in a packed cylindrical tube, analytically. At the wall, the solute experiences an irreversible chemical reaction of order-one.The combined action of moments method with integral transform technique has been introduced to employ the Gill’s generalized dispersion model. The main goal is to investigate a full time evaluation of various transport coefficients in different superficial flow through porous media together with wall reaction. This study provides a perspective on how porous media influences the migration of solutes in the presence of wall reactions. Exchange coefficient is shown to be solely dependent on wall absorption. In the presence of porosity, wall absorption causes an increase in the advection coefficient's magnitudes; however, the dispersion coefficient exhibits the reverse behavior. Fluid velocity is always suppressed by damping factor, and thus advection and dispersion coefficients both controlled by damping factor. Increase in porosity parameter will reduces the axial concentration distribution. This work could have applications in areas such as groundwater flow, contaminant transport, or chemical reactions within porous materials.

Central limit theorem of overlap for the mean field Ghatak–Sherrington model

The Ghatak–Sherrington spin glass model is a random probability measure defined on the configuration space {0,±1,±2,…,±S}N with system size N and S⩾1 finite. This generalizes the classical Sherrington–Kirkpatrick (SK) model on the boolean cube {−1, +1}N to capture more complex behaviors, including the spontaneous inverse freezing phenomenon. We give a quantitative joint central limit theorem for the overlap and self-overlap array at sufficiently high temperature under arbitrary crystal and external fields. Our proof uses the moment method combined with the cavity approach. Compared to the SK model, the main challenge comes from the non-trivial self-overlap terms that correlate with the standard overlap terms.

Assessing the Impact of Federal Reserve Policies on Equity Market Valuations: An Instrumental Variables Approach

This study investigates the impact of Central Bank interventions on the pricing dynamics of select stock markets. The research utilizes the instrumental variables three-stage least square (3SLS) model approach. It analyses the effects of variations in the Federal Reserve’s balance sheet size across three distinct intervention scenarios: the 2008–2013 Great Recession, the 2020–2021 COVID-19 pandemic periods, and an overarching analysis spanning these timelines. Our methodology includes estimations of the Seemingly Unrelated Regression Equations (SURE), and the results are robust under the two-step Generalized Method of Moments (GMM). Our findings indicate that changes in the size of the Fed’s balance sheet correlate significantly with the pricing of principal U.S. equity market indices. This correlation reflects a time-dependent effect emanating from the Fed’s balance sheet expansion, marking a growing divergence between the adaptability of pricing mechanisms in equity and debt markets. Notably, the Federal Reserve’s interventions during the COVID-19 crisis are associated with an increase of approximately 0.0403 basis points per billion in treasury yields. This research makes a significant contribution to the understanding of financial asset pricing, particularly by elucidating the extent to which interventions in government debt securities engender price distortions in certain equity markets.

Determinants of foreign direct investment in SADC region: Case of financial development, institutions and openness

Background: Countries in the Southern African Development Community (SADC) region have experienced low growth coupled with high levels of poverty and inequality. Economic growth has been touted as one of the major factors to deal with these problems. However, the lack of financial resources has hampered the efforts to achieve high levels of growth. This has therefore resulted in the countries putting much effort on attracting foreign capital.Aim: The study aims to investigate the extent to which financial development (FSD), financial openness, and institutional quality determine the inflow of foreign direct investment (FDI) in the SADC region.Setting: The study focuses on 15 countries in the SADC region from 2008 to 2022.Method: The study employs the Generalised Method of Moments (GMM) technique given the problem of endogeneity between the variables of interest.Results: The findings from the study indicate that FSD and financial openness are important factors determining the flow of FDI to the SADC region. On the other hand, the effect of institutions was found to be significant when taking into account the state of FSD and financial openness.Conclusion: Policymakers are encouraged to focus on enhancing institutional frameworks, promoting FSD, and increasing financial openness to optimise capital inflows.Contribution: The study contributes to the available studies by incorporating the role that is played by institutional quality and financial openness to the modelling. This becomes important as the region aims at attracting more foreign capital so as to improve growth as domestic capital supply falls short of domestic capital demand.

The effect of government investments on the environment: An empirical investigation of OECD countries

Sustainable development and climate change mitigation have become key priorities of economic policy. These priorities also remain relevant in the government investments. However, theoretical approaches indicate that government investments have both favourable and detrimental effects on environmental quality. Besides, the current literature has dealt with the impact of government expenditures in general. Based on this theoretical foundation and literature motivation this study addresses the impact of government investments on carbon emissions, in the case of 38 Organisation for Economic Co-operation and Development countries. For this purpose, in the models estimated for 2 different indicators of carbon emission, besides the lagged carbon emissions, income level, industrial production, energy intensity and renewable energy variables, government investments were also included into the analysis as additional explanatory variable. Considering the dynamic nature of our model, we implemented the system generalized method of moments on panel data and the findings of all different estimates demonstrate that government investments increase environmental pollution. Furthermore, our findings indicate that the path dependence of carbon emissions is strong and point to the carbon-mitigating effect of income level and renewables, and the carbon-increasing effect of industrial production and energy intensity. Our results support the pro-market view on the environmental impact of government investments and point to environmental efficiency problems arising from the decision-making processes of government investments. Furthermore, our results are not in favor of the opinion that government investments are decided based on social costs and social benefits, including externalities, and therefore have a long-term sustainability perspective.