Results 251 to 260 of about 152,778 (309)

Speed of adjustment and estimation of the partial adjustment model

Applied Economics Letters, 1996
The effect which the speed of adjustment parameter has on the statistical properties of the partial adjustment model, and estimates of its parameters, is investigated. It is shown that in the case of very rapid adjustment, the model approaches a classical (static) regression model, but in the case of very slow adjustment, the dependent (or state ...
Marcus Chambers, Chambers, Marcus J
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Cash holdings speed of adjustment

International Review of Economics and Finance, 2018
Abstract This study examines the speed of adjustment of cash holdings and extends the recent work that highlights the importance of accounting for heterogeneity of the speed of adjustment of cash holdings. The results indicate that firms with cash deficits, rated firms and firms with financial surpluses have a slower speed of adjustment, while firms ...
Svetlana V Orlova, Ramesh P Rao
exaly   +2 more sources

Debt Covenants and the Speed of Capital Structure Adjustment

SSRN Electronic Journal, 2017
Abstract This paper examines the impact of debt covenants on the speed of capital structure adjustment. Overall, we find that covenants lower the speed of adjustment by 10–13%, relative to the speed of adjustment of firms without covenants. The speed of adjustment is significantly lower, by 40–50%, for firms with the most intense covenant provisions.
Devos, Erik, Rahman, Shofiqur, Tsang, Desmond   +2 more
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Adjustment speed towards target capital structure and its determinants

Economic Research-Ekonomska Istrazivanja, 2021
This study examines the existence of the dynamism of capital structure in Pakistan for the period from 2003 to 2012, with specific objectives of estimating the adjustment speed and determining the factors affecting the adjustment speed towards target ...
Pervaiz Ahmed Memon, Rohani Md-Rus
exaly   +3 more sources

Adjustable Speed Hydro Generation.

RE&PQJ, 2023
The potential advantages of variable speed hydroelectric generation are discussed in this paper. Some general aspects concerning the efficiency gains in turbines and the improvements in plants operation are analysed. The main results of measurements done on a test loop with an axial-flow turbine are reported.
null J.R. Wilhelmi, null J.J. Fraile Ardanuy, null J.J. Fraile Mora, null L. Íñigo   +3 more
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On Technical Progress and the Speed of Adjustment

Economica, 1975
This paper contends that greater embodiment of technical progress need not always lead to faster adjustment given an initial disequilibrium within a neoclassical growth model. Furthermore it is suggested that changes in the mean age of the capital stock over time may provide a means for reconciling an apparent paradox relating to the question of ...
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Estimating the Speed of Adjustment in Partial Adjustment Models

Journal of Business & Economic Statistics, 1991
We reexamine a recent controversy in the inventory literature regarding the impact of estimator choice on estimated speeds of adjustment in partial adjustment models. We compare the properties of two asymptotically equivalent estimators, the residual-adjusted Aitken (RAA) and nonlinear least squares (NLS) estimators.
Alastair Hall, Robert J. Rossana
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Liquidity and speed of leverage adjustment

Australian Journal of Management, 2020
This article investigates the effect of liquidity on the speed of adjustment (SOA) of corporate leverage at the individual company level. Using panel analysis of data from 35 countries between 1996 and 2016, we find that high-liquidity firms have a significantly faster SOA than less liquid firms.
Ly Ho, Yue Lu, Min Bai
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