The primary independent variable was time. Use was made damodar gujarati econometrics by example pdf a covariate consisting of yearly values of annual mean atmospheric pressure at sea level.
The results showed that inclusion of the covariate allowed improved estimates of the trend against time to be obtained, compared to analyses which omitted the covariate. Mason, OH: South-Western Cengage Learning. This page was last edited on 3 January 2018, at 14:39. It assumes that the data being analysed are drawn from a hierarchy of different populations whose differences relate to that hierarchy. This constant can be removed from the data through differencing, for example by taking a first difference which will remove any time invariant components of the model. There are two common assumptions made about the individual specific effect, the random effects assumption and the fixed effects assumption.
The fixed effect assumption is that the individual specific effect is correlated with the independent variables. Their scores on a standard aptitude test are ascertained. The model can be augmented by including additional explanatory variables, which would capture differences in scores among different groups. Sex, Race, and Parents’ Education. For random effects to work in the school example it is necessary that the school-specific effects be uncorrelated to the other covariates of the model.
If the test rejects, then random effects is biased and fixed effects is the correct estimation procedure. Random-Effects Models for Longitudinal Data”. Fixed effects, random effects and GEE: What are the differences? New York: Cambridge University Press. This page was last edited on 28 September 2017, at 15:47.
This research investigates about the relation between demographic dynamics and economic growth, illustrating both orthodox and heterodox theories. An econometric study based on UE and BRIC countries is provided. Sorry, preview is currently unavailable. You can download the paper by clicking the button above. Enter the email address you signed up with and we’ll email you a reset link.
Article ID 301176, DOI: 10. Ojeka Stephen Aanu, Iyoha Francis Odianonsen and Obigbemi Imoleayo Foyeke. Distributed under Creative Commons CC-BY 3. Audit Committee role is very important to the protection of shareholders and other stakeholders interests. This research study explores the influence of audit committee effectiveness on firm’s performance using four characteristics: independence, financial expertise, size, and meetings of the audit committee. Empirical analysis was carried out using regression and correlation.
The result of the analysis showed a positive significant relationship between independence and financial expertise of the audit committee and ROA, ROE and ROCE. However, the size and meetings of audit committee showed no significant relationship with all performance variables. This study therefore recommends that the audit committee should be made more effective by ensuring that members are made up of independent non-executive directors and also ensure that more members with financial expertise especially accounting expertise be drafted into the audit committee and lastly ensure that audit committee meetings are tailored towards relevant issues that enhance the financial performance of the firm. There have been massive fraud and unethical practices within and among a number of organizations in Nigeria including Unilever Plc.