Panel Data Regression Research Articles

Panel Data: Study Of Income Inequality In West Sumatra

This research aims to analyze the factors that influence income inequality in West Sumatra Province. Some of the variables that are taken into consideration are: unemployment, education and poverty. The research uses secondary data from the Central Statistics Agency (BPS), using panel data regression analysis in 19 Regencies/Cities in West Sumatra Province, during 2017-2023. The selected research model uses the Fixed Effect Model (FEM). The research results show that: (1) the unemployment variable has a positive and insignificant effect on income inequality, (2) the education variable has a negative and significant effect on income inequality, (3) the poverty variable has a positive and significant effect on income inequality.

Can Oil Prices Volatility Explain Economic Growth?

The research focuses on the relationship between oil price volatility and economic activity in the context of a sample of six GCC countries. The study derives the results from an annual data set (1998-2021) and involves correlations, linear regression, curvilinear regression, panel data regression and causality tests to draw conclusions. It was observed that panel data analysis with random effects was best able to explain the positive relationship between oil price volatility and economic activity. Kuwait was observed as an exception country in the study as it demonstrated insignificant relationships and differentiating behavior. The global financial crisis was observed as a significant event on global oil volatility.

Corporate Social Responsibility and Country Governance: An International Comparative Study Amid the COVID-19 Pandemic

This paper assesses the association of ESG scores with stock returns and highlights the moderating role of the COVID-19 pandemic and the country’s governance. The study uses panel data regression models to assess the relationship between ESG factors and stock returns, focusing on the moderating role of country governance and the COVID-19 pandemic. The results reveal that governance quality significantly enhances the positive effects of ESG practices on returns, particularly during times of crisis. These suggest that higher overall ESG scores are related positively to financial performance, and this relation is enhanced during the COVID-19 pandemic. Specifically, the two dimensions of ESG that matter most are environmental and governance. Country-level governance is important because firms in well-governed countries amplify the benefits of high ESG scores. The opposite is true for the higher controversies scores, whose bad financial outcome is magnified during the pandemic. These results present an argument for the resilience of firm financial performance, dependent on strong ESG practices and governance frameworks. This holds great interest for investors and policymakers in associating good ESG considerations with the effective management of financial risks, leading to sustainable returns during periods of widespread economic uncertainty.

The influence of tax burden, intangible assets, and foreign ownership on transfer pricing policies

This research aims to determine and empirically test the influence of tax burden, intangible assets and foreign ownership on transfer pricing policies in energy sector companies listed on the Indonesia Stock Exchange (BEI) during the 2018 2022 period. This type of research is descriptive quantitative which uses secondary data sourced from the company's financial reports that have been published by the company on the Indonesia Stock Exchange (BEI). This research consisted of 84 companies and the number of samples used was 9 companies as research objects for five years. The data analysis technique for testing this hypothesis uses E-views 12 software. Panel data regression analysis is used as the mechanism in this research. The research results show that the tax burden has a significant effect on transfer pricing. Meanwhile, intangible assets and foreign ownership do not have a significant effect on transfer pricing. This is because companies can consider tax burdens, intangible assets and foreign ownership in transfer pricing policies

Air cargo transport and economic development in emerging economies: A case study of Brazil with panel data analysis

Air cargo transportation accounts for less than 1% of the global trade volume, yet it represents approximately 35% of the total value of goods transported, highlighting its strategic importance in trade and economic development. This study investigates the relationship between domestic air cargo transport in Brazil and key macroeconomic variables, focusing on how regional economic dynamism, logistical infrastructure, and population density impact the country’s development. Using a panel data regression model covering the period from 2000 to 2020, the study analyzes the evolution of air cargo transportation and its role in redistributing economic growth across Brazil’s regions. The findings emphasize the key factors influencing the air cargo sector and demonstrate how these factors can be leveraged to optimize public policies and business strategies. This research provides valuable insights into the relevance of air cargo transportation for regional and national development, particularly in emerging economies like Brazil, offering guidance for the formulation of strategies that promote balanced economic growth across regions.

The Effect of Independent Commissioners and Capital Intensity on Tax Planning

This study aimed to examine the effect of independent commissioners and capital intensity on tax planning by manufacturing companies in the consumer goods industry sector listed on the Indonesia Stock Exchange 2020-2023. This study has a sample of 40 consumer goods industry manufacturing companies listed on the Indonesia Stock Exchange (IDX) with predetermined criteria during the 2020-2023 period. The independent variables of this study are independent commissioners and capital intensity. The dependent variable in this study is tax planning, which is measured using ETR. This study uses secondary data from the company's financial statement and annual report. The analysis used in this study is panel data regression with the EViews-12 program. Partially, the results show that independent commissioners and capital intensity do not affect tax planning.

The effect of earnings management and price to book value on stock returns at PT Sampoerna Agro Tbk for the Period 2013 – 2023

This research aims to determine the influence of Profit Management and Price to Book Value (PBV) variables on stock returns at PT Sampoerna Agro Tbk. This type of research is quantitative. The data analysis technique used is panel data regression with an 11 (eleven) year time series, namely the 2013-2023 period and 1 (one) company. Based on the results of the partial test (T test) for Profit Management, the T value obtained is 0.846 with a significance of 0.420. Because Tcount < Ttable (0.846 < 2.262) and the significance value < significant level (0.420 > 0.05). So the conclusion is that Earnings Management has no effect and is not significant on Stock Returns. The research results for Price to Book Value (PBV), obtained a T value of 1.005 with a significance of 0.341. Because Tcount < Ttable (1.005 < 2.262) and the significance value < significant level (0.341 > 0.05). So the conclusion is that Price to Book Value (PBV) has no positive effect on Stock Returns. The results of simultaneous hypothesis testing (F test) can be seen that the Fcount value is 0.956 which is smaller than Ftable of 4.46 or 0.956 <4.46 as for the significance value amounting to 0.424 is greater than 0.05 or 0.424 > 0.05, so it can be concluded that Earnings Management and Price to Book Value simultaneously do not have a significant effect on Stock Returns.

Green banking disclosure and firm value: a research study at the commercial bank of Vietnam

ABSTRACT This study investigates the impact of green banking disclosure on the firm value of Vietnamese-listed commercial banks and examines the moderating role of non-performing loans (NPLs) from 2010 to 2023. Using panel data regression and content analysis, we employ the Circular 96/2020/TT-BTC disclosure index to measure green banking disclosure and Tobin’s Q to assess firm value. Our findings reveal that green banking disclosure generally reduces firm value. However, when accounting for NPLs, this negative relationship reverses, indicating a moderating effect. This research uniquely incorporates banks’ intrinsic value alongside Tobin’s Q to test the robustness of our results.

Impact of Green Finance on High-Quality Economic Development: A Panel Data Regression

Impact of Green Finance on High-Quality Economic Development: A Panel Data Regression

Long-Term Impact of Mergers and Acquisitions on Firm Performance: A Panel Data Study

Purpose - This study aims to examine the long-term impact of mergers and acquisitions (M&As) on firm performance, particularly within the pharmaceutical industry. Using a panel data regression model, the study assesses how key financial ratios such as Net Profit Margin, Return on Capital Employed (ROCE), Debt to Equity Ratio, and Enterprise Value influence postmerger firm performance over time. Design/methodology/approach - A panel data approach has been conducted using data from 10 pharmaceutical companies from their post-merger period, focusing on the effects of M&As on firm performance as measured by Net Profit Margin. Financial ratios related to profitability, liquidity, and valuation were used as independent variables. Findings - The study finds that M&As have a positive long-term impact on firm performance, particularly in companies with strong Earnings per Share (EPS), efficient capital management, and good liquidity. ROCE, Debt to Equity Ratio, and Current Ratio were significant predictors of improved Net Profit Margin, highlighting the importance of financial efficiency and debt management in the post-merger phase. Research limitations/implications - The focus on the pharmaceutical industry limits the generalizability of the findings to other sectors. Future studies should examine a broader range of industries to better understand the effects of M&As across different contexts

Pengaruh Kecukupan Modal dan Inefisiensi terhadap Profitabilitas Bank Pembangunan Daerah di Indonesia

The purpose of this study is to examine whether capital adequacy and inefficiency affect the profitability of regional development banks in Indonesia for the period 2015-2022. The data analysis technique uses panel data regression. The population used is 26 Regional Development Banks listed in the Regional Development Bank Association. The sample consisted of 24 BPD banks with 192 observation data, which were carried out by purposive sampling. In this study, capital adequacy is measured using Capital Adequacy Ratio (CAR), Inefficiency is measured by Operating Expenses Operating Income (BOPO) and profitability is measured using Return On Asset (ROA). The results showed that capital adequacy has a significant positive effect on profitability, and inefficiency has a significant negative effect on profitability

Effect of Environmental Performance and Company Size on Financial Performance

This research aims to analyze the influence of environmental performance and company size on financial performance in consumer goods sub-sector companies listed on the IDX for 2018-2022. The research sample consisted of 24 companies with a total of 120 observations. The analysis method uses panel data regression. The findings of the study show that partially environmental performance has a significant positive influence on financial performance, while the size of the company does not have a significant effect. Simultaneously, environmental performance and company size significantly influence financial performance with the ability to explain variations in financial performance by 7%. The study concluded that companies with good environmental performance tended to have better financial performance, while company size was not the main factor affecting financial performance. This study advises management to pay attention to environmental factors in financial performance policies and investors to consider environmental performance in investment decisions.

Capital Structure and Its Impact on Profitability- An Empirical Study on Indian Infrastructure Construction Industry

The purpose of this study is to analyse and study the impact of profitability in the capital structure for the top firms of the infrastructure construction industry of India, according to their market capitalization. These firms are listed in National stock exchange. Along with that empirically analysing howthe profitability of these firm are affected by their capital structures. Both theTime series and cross-sectional data are taken into consideration for analysis. These are tested with the empirical panel data regression. For this EViews software is used. And the result of the study demonstrates that the capital structure has a significant impact on the profitability of the top specific firmstaken for the study. On the basis of this analysis the final conclusion of the project is made which provides future scope for the further research work in this area. Key words: Capital Structure, Return on Equity, Return on Asset, Panel Data,Total Liability

Determinan Proporsi Dana Tabarru’ pada Lembaga Keuangan Asuransi Jiwa Syariah

Financial management in Islamic insurance companies uses a split fund system. It is also supported by PMK Number 18/PMK.010/2020, which emphasizes that operators or sharia insurance companies must separate wealth by tabarru' fund obligations from the obligations and assets of company funds. The separation of funds has been carried out since participants pay contributions (premiums) at the beginning of the transaction. The purpose of this study is to analyze the factors that influence the proportion of tabarru' funds in Sharia Life Insurance companies. This research is a quantitative research, and the source of the data obtained is secondary data. The population is 21 Sharia Life Insurance companies registered with OJK. The sample of this study uses a purposive sampling technique by producing 16 sharia life insurance companies registered with the OJK, using annual financial statements according to the variables used during the period (2017-2019). Data analysis uses panel data regression analysis with fixed effects model which is processed using eviews 9. The findings from this research show that claims, sharia reinsurance, and operating expenses have a significant effect, while the growth of tabarru' funds and investment returns of tabarru' funds have no significant effect. With the coefficient of determination (R square) 0.775396 which means claims, sharia reinsurance, operating expenses, growth of tabarru' funds and investment returns of tabarru' funds can explain 77% of the proportion of tabarru' funds and the rest is influenced by other variables outside the study.. Keywords: Proportion of Tabarru' Funds, Sharia Life Insurance, Separation of Funds

Competition Plays A Moderating Role in The Impact of Liquidity Creation on Bank Capital

Introduction/Main Objectives: This study examines the moderating influence of bank competition, proxied by the Lerner index, on the impact of liquidity creation, measured using the Catfat method, on bank capital, proxied by the equity-to-total-assets ratio. Background Problems: Limited academic literature explores how competition moderates the relationship between liquidity creation and bank capital, which is essential for maintaining stability and risk absorption in the banking sector. Novelty: This study fills the gap by demonstrating that the effect of liquidity creation on bank capital depends on the level of bank competition. Research Methods: The study uses purposive sampling, covering 96 banks from 2013 to 2023, and applies panel data regression analysis with Hayes’ method. Control variables include ROA, LDR, NPL, GDP, inflation, and Bank Indonesia interest rates. Findings/Results: The results indicate that competition moderates the negative effect of liquidity creation on bank capital, weakening this impact. This suggests that competition enables banks to maintain higher capital levels. Conclusion: The study highlights the importance of competition in moderating the liquidity creation-capital relationship, with implications for bank management and regulatory policies.

Analisis Pengaruh Beban Pajak Kini, Beban Pajak Tangguhan, dan Aset Pajak Tangguhan Terhadap Manajemen Laba

This study aims to empirically determine the effect of current tax burden, deferred tax burden, and deferred tax assets on earnings management in automotive companies listed on the Indonesia Stock Exchange (IDX) during the 2018-2022 period. The research method used is a quantitative research method. The data used are secondary data, namely financial statements registered on the Indonesia Stock Exchange (IDX) from 2018 to 2022. The sample was selected using purposive sampling. Based on the determined criteria, a total of 6 automotive companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022 were obtained. The analysis techniques used in this study are panel data regression analysis, panel data regression model testing, classical assumption testing, and the coefficient of determination test. The results of this study indicate that the current tax burden affects earnings management, while the deferred tax burden and deferred tax assets do not affect earnings management. Furthermore, the study found that simultaneously, the current tax burden, deferred tax burden, and deferred tax assets affect earnings management.

Alcohol policy and alcohol-attributed disease burden in Finland and the Baltic countries 1995-2019

Abstract Introduction Alcohol remains a significant contributor to mortality and morbidity in Finland and the Baltic countries, particularly among men. This study aimed to assess alcohol policy restrictiveness in this region from 1995 to 2019 using a modified version of the Bridging the Gap (BtG-M) policy scale and examine its association with alcohol-related disease burden. Methods The study utilised national statutory laws to score policy restrictiveness (higher BtG-M scores mean stricter policies) and age-standardised rates of disability-adjusted life years (DALYs), years of life lost (YLLs), years lived with disability (YLDs) and deaths per 100,000 from the 2019 Global Burden of Disease Study (GBD). Spearman correlation tests and panel data regression models were applied to assess the association between policy scores and burden of disease. Results Finland maintained a high BtG-M score, while the Baltic countries experienced recent increases from initially lower scores. Alcohol-related disease burden showed an inverse association with policy changes in these countries. Strongest association was seen between the BtG-M score and DALY rates attributed to injuries. Premature mortality among men constituted the largest proportion of disease burden. Discussion and Conclusions Despite challenges in accessing and comparing policy data over time, we showed a strong association between alcohol policy and alcohol-related harm in Finland and the Baltic countries. This study is one of the first to use the BtG-M scale to monitor changes in alcohol policies over time and their relationship to alcohol-related harm using GBD methodology. The study highlights the effects of national alcohol policies on levels of alcohol-related harm. Key messages • This study stands out due to its longitudinal study design, which quantitatively compares the level of alcohol policy restrictiveness in Finland and the Baltic countries from 1995 to 2019. • Our study suggests that shifts towards more restrictive alcohol policies are linked to reduction in alcohol-related harm in Finland and the Baltic countries.

Analisis Pengaruh Beban Pajak Kini, Beban Pajak Tangguhan, dan Perencanaan Pajak Terhadap Manajemen Laba

This research aims to determine empirically the influence of current tax burden, deferred tax burden and tax planning on earnings management in automotive companies listed on the Indonesia Stock Exchange (BEI). during the 2018-2022 period. The research method used is a quantitative research method. The data used is secondary data, namely financial reports listed on the Indonesia Stock Exchange (BEI) in 2018-2022. The sample was selected using the purposive sampling method. Based on predetermined criteria, there were 6 automotive companies listed on the Indonesia Stock Exchange (BEI) in 2018-2022. The analysis techniques used in this research are descriptive statistical analysis, panel data regression model testing, classical assumption testing, panel data linear regression testing, and hypothesis testing. The results of this research show that current tax burden and tax planning have an effect on earnings management, while deferred tax burden has no effect on earnings management. Then research simultaneously current tax burden, deferred tax burden, and tax planning influence on earnings management.

Determinants of Inflation Rate Fluctuations in Five ASEAN Nations

This paper examines the key relationships between independent variables and inflation fluctuations in the ASEAN-5 countries, which include Malaysia, Indonesia, Singapore, Thailand, and the Philippines. Using annual data from 2001 to 2020, a static panel data regression model is employed. The empirical results reveal that at least two independent variables significantly impact inflation rates in these five ASEAN nations. Specifically, the unemployment rate has a significant negative correlation with inflation fluctuations, while economic growth shows a significant positive correlation. Overall, this study provides valuable insights into how exchange rate determinants influence inflation fluctuations, highlighting the importance of balanced policies to address the interactions between unemployment, economic growth, and inflation.

Investment Allowance and Financial Performance of Dt-Saccos in Nairobi County, Kenya

Purpose: The main objective of the study was to determine the effect of investment allowance on financial performance of DT-SACCOS in Nairobi County, Kenya. Methodology: This study utilized explanatory research design to investigate the influence of tax policies, including investment allowances, accelerated depreciation, and capital gains tax exemption, on the financial health of Deposit Taking SACCOs in Nairobi County, Kenya. The study used advanced estimation techniques, such as correlation and panel data regression models to estimate the relationship. Results: The study established that investment allowance has a significant negative impact on the financial performance of deposit-taking savings and credit cooperative societies (DT-SACCOs) in Nairobi County. Conclusion: Investment allowances, despite their negative association with financial performance, offer a valuable opportunity for DT-SACCOS to reduce taxable income and optimize investment in growth-enhancing assets. However, this should be balanced with careful planning to avoid potential adverse effects on financial performance.