scholarly journals Which institutions are important for firms performance? Evidence from Bayesian model averaging analysis

2017 ◽  
Vol 64 (4) ◽  
pp. 383-400 ◽  
Author(s):  
Jarko Fidrmuc ◽  
Svatopluk Kapounek ◽  
Martin Siddiqui
Keyword(s):  
Political Institutions ◽  
Bayesian Model ◽  
Bayesian Model Averaging ◽  
Model Averaging ◽  
Financial Conditions ◽  
Long Run ◽  
Averaging Analysis ◽  
Business Regulations ◽  
Excessive Risk Taking ◽  
High Share

Using a rich dataset on individual firms in selected EU countries between 2005 and 2012, we document a surprisingly high share of assets tied in highly inefficient firms. Moreover, we discuss different channels through which institutions may affect firm financial developments and thus the long-run growth. Using Bayesian model averaging analysis, we discuss the importance of different types of economic, financial and political institutions. We show that high institutional quality improves the financial conditions of firms. However, too lax business regulations may worsen firms? performance possibly due to excessive risk taking behavior.

scholarly journals Spatial Prediction of N2O Emissions in Pasture: A Bayesian Model Averaging Analysis

PLoS ONE ◽  
2013 ◽  
Vol 8 (6) ◽  
pp. e65039 ◽  
Author(s):  
Xiaodong Huang ◽  
Peter Grace ◽  
Wenbiao Hu ◽  
David Rowlings ◽  
Kerrie Mengersen
Keyword(s):  
Bayesian Model ◽  
Bayesian Model Averaging ◽  
Model Averaging ◽  
Spatial Prediction ◽  
N2o Emissions ◽  
Averaging Analysis

scholarly journals Determinants of Inflation in Iran Based on Bayesian Model Averaging (BMA)

2014 ◽  
Vol 43 ◽  
pp. 10-17
Author(s):  
Mohsen Mehrara ◽  
Arezoo Ghazanfari ◽  
Motahareh Alsadat Majdzadeh
Keyword(s):  
Exchange Rate ◽  
Bayesian Model ◽  
Bayesian Model Averaging ◽  
Model Averaging ◽  
Energy Price ◽  
Market Exchange ◽  
Explanatory Variables ◽  
Long Run ◽  
The Impact ◽  
Money Velocity

Due to the important influence of inflation on macro-economic variables, researchers pay tremendous amount of attention to its determinants. Accordingly, in the following research, the impact of 13 variables on inflation during the period of 1338-1391 by using Bayesian Model Averaging (BMA) method has been investigated for Iran economy. The ranking of the 13 explanatory variables are obtained based on the probability of their inclusion in model. The results show that the energy price and money imbalance (lagged ratio of money to nominal output) have expected and positive effect on inflation rate with a probability of 100 % and they are considered as the key explanatory variables in inflation equation. The energy price, money imbalance, money growth and market exchange rate growth have the first to fourth rank respectively. The influence of the production growth is not significant on the inflation in the short-run but it gradually influences the inflation through money imbalance channel in the long-run. In addition, most of the disinflation effects due to decrease in money supply will appear with delay. These results imply the dominance of monetary variables on inflation with cost push factors not having important impacts on prices. Also, oil revenue and imports influence the inflation through exchange rate channel, production and money velocity.

Selecting Predictors by Using Bayesian Model Averaging in Bridge Models

2012 ◽  
Author(s):  
Lorenzo Bencivelli ◽  
Massimiliano Giuseppe Marcellino ◽  
Gianluca Moretti
Keyword(s):  
Bayesian Model ◽  
Bayesian Model Averaging ◽  
Model Averaging ◽  
Bridge Models
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