The Lending-Deposit Rate Relationship in Eastern European Countries: Evidence from the Rank Test for Non-linear Cointegration

This study carries out an examination of the potential non-linear cointegration between the lending and deposit rates of eight Eastern European countries using the non-parametric rank tests proposed by Breitung (2001). Based upon our adoption in this study of the threshold error-correction model (TECM), we find solid evidence of an asymmetric price transmission effect, in both the short term and the long term, between lending and deposit rates. Thus, our results reveal that there are indeed such long-run non-linear cointegration relationships between the lending and deposit rates in these Eastern European countries. Furthermore, we go on to successfully capture the dynamic adjustment of the spread.lending-deposit rates, rank test, non-linearity

Does Rational Bubbles Exist in the Taiwan Stock Market? Evidence from a Nonparametric Cointegration Test

In this study, we revisit the issue as to the presence of rational bubbles in the Taiwan stock market during the June 1991 to February 2005 period using the Bierens (1997) nonparametric cointegration tests. The results from the Bierens nonparametric cointegration test attest to the absence of rational bubbles in the Taiwan stock market.Rational Bubbles Taiwan Stock Market Nonparametric Cointegration Test

The Relationship between Stock Price and EPS: Evidence Based on Taiwan Panel Data

In this study, we use panel cointegration methods to investigate the relationship between stock prices and earnings-per-share (EPS). Furthermore, we consider whether stock prices respond to EPS under the different level of growth rate of operating revenue. The empirical result indicated that the cointegration relationship existed between stock prices and EPS in the long-run. Furthermore, we found that for the firm with a high level of growth rate, EPS has less power in explaining the stock prices however, for the firm with a low level of growth rate, EPS has a strong impact in stock prices.Earnings Response Coefficient (ERC)

How consumer confidence is reshaping the outbound tourism expenditure in China? A lesson for strategy makers!

Tourism is a rapidly rising sector that contributes significantly to economies. In this paper, we apply a bootstrap full-sample causality test, parameter stability test, and quantile-on-quantile approach test so as to examine the relationship between consumer confidence index (CCI) and outward tourism expenditure (OTE) for the period between 1998:Q1 to 2021:Q4. The results of the findings reflect that CCI tends to exert a positive impact on the OTE in most of the quantiles. This essentially implies that consumer confidence in China can act as a compound for outbound tourism expenditure in nature. Therefore, it can be affirmed that the OTE tends not to have an effect on the CCI, thus extending the implication that an alteration in the private outbound tourism spending in most likely to be insufficient for the modification of the factor of consumer confidence. To ensure the robustness of the results, we have employed the quantile-based granger causality to investigate the causal relationship in quantile between CCI on the OTE. The results of this study tend to educate the foreign tourism policymakers, while at the same time making forecasts of the tourism arrivals from China. Policymakers can then plan their tourism strategies, ideally including the CCI

5,5′-Bis[(2,2,2-trifluoro­eth­oxy)meth­yl]-2,2′-bipyridine

The complete molecule of the title compound, C16H14F6N2O2, is generated by crystallographic inversion symmetry, which results in two short intramolecular C—H⋯N hydrogen-bond contacts per molecule. In the crystal, aromatic π–π stacking [centroid–centroid distance = 3.457 (2) Å] and weak C—H⋯π inter­actions occur. A short H⋯H [2.32 (3) Å] contact is present

Is presidential popularity a threat or encouragement for investors?

The economic situation of the post-epidemic is facing huge downward risks, and the government actively introduces stimulus measures to improve the current economic situation. In this crisis, the president’s role in asset price gradually deepened. Hence, we utilise a wavelet-based quantile-on-quantile approach to uncover the complex and unstable relationships between presidential popularity and the currency performance of asset price. We find the significant negative impact of the government popularity on the stock market and oil prices, especially in the medium quantile. This suggests that political stalemates will not always be suitable for financial markets. Instead, this will hinder the investment because it expresses the uncertainty of the direction. On the contrary, the U.S. dollar presents a highly positive relationship with the government popularity. Investors can avoid the trust risk of the president through the adjustment of the asset portfolio. The result is consistent with the asset pricing model, suggesting that investor sentiments significantly influence the performance of assets. Meanwhile, the duration of impacts caused by short-term shock will eventually be repaired for a long time. The approval ratings will harm the investor sentiment in the short term, but the market will digest this over tim

UREDNIČKI OPOZIV RADA: Fleksibilni Fourierov stacionarni test BDP-a po stanovniku za Srednjoistočne europske zemlje

Statement of Retraction (Zb. rad. Ekon. fak. Rij. • 2012 • vol. 30 • sv. 2 • 219-219, http://www.efri.uniri.hr/dokumenti/zbornik-2012-2-retraction.pdf): This is to notify our respectful reading public that the Editorial Board of the journal Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business has retracted the following article from publication: “Flexible Fourier Stationary Test in GDP per capita for Central Eastern European Countries“, by Hsu-Ling Chang, Chi-Wei Su, Meng-Nan Zhu, published in our journal Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 2011, vol. 29 (1), pp. 51-63 and almost concurrently published in the journal Eastern European Economics, 2011, vol. 49 (3), pp. 54-65. Being in contact with Josef C Brada, Professor Emeritus, Editor of the journal Eastern European Economics (EEE), we realized that the paper had been sent to both journals, although first published in the EEE and then in our Journal. According to professor Brada’s and our analysis, the paper published in these two journals is exactly the same, except for minor differences in wording, most likely due to editing the text before publication. The outstanding differences are in the title and the fact that the paper published in our Journal has three authors and in EEE journal has two. Whatsoever, owing to the fact that the article had been sent to both journals almost at the same time, it had been impossible to find out the case during the review procedure. Due to this unpleasant situation, our Editorial Board would like to inform our valuable readers that all the necessary measures to retract the paper from our publication have been undertaken and according to publishing ethical principles, cooperation with the authors of the retracted paper have been stopped. Although, in this case neither EEE nor our Journal had any chance to envisage and prevent this double publication in time, we do ask our readers to accept our deepest apology. Ivo Sever, PhD Editor- in- ChiefStatement of Retraction (Zb. rad. Ekon. fak. Rij. • 2012 • vol. 30 • sv. 2 • 219-219, http://www.efri.uniri.hr/dokumenti/zbornik-2012-2-retraction.pdf): Želimo obavijestiti poštovane čitatelje da je Urednički odbor časopisa Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business povukao sljedeći članak iz publikacije: “Flexible Fourier Stationary Test in GDP per capita for Central Eastern European Countries” grupe autora Hsu-Ling Chang, Chi-Wei Su, Meng-Nan Zhu, objavljenog u našem časopisu Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 2011, vol. 29 (1), str. 51-63 i gotovo istovremeno u časopisu Eastern European Economics, 2011, vol. 49 (3), str. 54-65. U kontaktu s urednikom časopisa Eastern European Economics (EEE), profesorom Josefom C Bradom otkrili smo da je spomenuti članak istovremeno poslan u oba časopisa, s tim da je prije objavljen u EEE, a potom u našem časopisu. Zajedničkom analizom s profesorom Bradom, ustanovili smo da se radi o potpuno istom članku ako se izuzmu neznatne razlike vjerojatno nastale tijekom uredničke obrade prije objavljivanja. Nadalje, jedina uočljiva razlika je u naslovu i u činjenici da su u našem časopisu navedena tri autora, a u EEE-u dva. Ovdje želimo napomenuti da je sama činjenica istovremenog prosljeđivanja članka u oba časopisa dovela do nemogućnosti detektiranja tog slučaja za vrijeme postupka recenzije. Urednički odbor želi obavijestiti svoje uvaženo čitateljstvo da smo poduzeli sve potrebne mjere da se objavljeni članak povuče iz publikacije prema svim etičkim načelima uz napomenu da je svaka daljnja suradnja s autorima članka prekinuta. Iako u ovom slučaju ni EEE niti naš časopis nisu imali mogućnost spriječiti dvostruko objavljivanje, upućujemo svojim čitateljima duboku ispriku. Prof.dr.sc. Ivo Sever Glavni i odgovorni uredni