There is huge evidence for a relationship between economic growth and environmental degradation. One of the causes of environmental degradation is CO2 emission which is added to the atmosphere through human activities and excessive industrialization. The aim of this research is to examine the relationship between CO2 emissions and measures of wealth in countries of Central and Eastern Europe between 2000 and 2019. The paper extends the research on economic affluence by taking into consideration two measures of economic growth, in addition to GDP, the HDI index is included. The basis for the investigation is the EKC concept. All analyses are based on econometric models with GDP and the HDI index as independent variables. The results are not conclusive and there is no one model which best describes the relationship between CO2 emissions and economic growth. Verification of the models indicates the better fit of models with the HDI index as the measure of affluence. Moreover, the study confirms that the key factors affecting CO2 emissions are energy consumption per capita which leads to an increase in CO2 emissions, and renewable energy consumption which reduces CO2 emissions. Therefore, technological changes and an increase in human awareness of global sustainability are required.
This study analyzes the relationship between renewable energy and CO2 emissions in top natural resource depending countries over the period 2000–2015. An important contribution of this study is to assess the role of governance. The Ordinary Least Squares Fixed effects Generalized Least Squares methods and two-step GMM estimators are used for panel data. The empirical results show that renewable energy has significant negative impact on per capita CO2 emissions. The estimates show that 1 percentage point increase in renewable energy consumption leads to 1.25% decrease in CO2 emissions per capita. We also find that renewable energy consumption decreases CO2 emissions faster in countries with higher rule of law and voice and accountability. gross domestic product per capita has inverted U-shaped relationship with CO2 emissions.
The main goal of this article is to compare data-mining clustering methods (k-means and fuzzy c-means) based on a sample of banking and energy companies on the Gulf Cooperation Council (GCC) stock markets. We examined these companies for a pattern that reflected the effect of news on the bank sector’s stocks throughout October, November, and December 2012. Correlation coefficients and t-statistics for the good news indicator (GNI) and the bad news indicator (BNI) and financial factors, such as PER, PBV, DY and rate of return, were used as diagnostic variables for the clustering methods.
Wykorzystanie drzew trójmianowych i teorii cyklu życia produktu do wyceny piłkarzy Keywords: valuation; players' performance rights; non-linear econometric models; trinomial three Słowa kluczowe: wycena; karty zawodnicze; nieliniowe modele ekonometryczne; drzewa trójmianowe JEL Code: G02; G12; L83 IntroductionThe problem of the valuation of intangible assets in ordinary companies is very serious, but when it concerns untypical companies, valuation becomes more complicated. Sport companies are a small and very specialized group of enterprises having a very special type of intangible asset -a player's performance rights. Such assets require using adequate tools for the valuation process. The literature review indicates many different models used. There are, between the others, various econometric models, the trinomial tree and some option-based pricing methods.There are not so many sports companies in the world and only a few of them are public companies. But the ones which are should keep their accounts under the regulations in force. Accounts require a thorough valuation of assets owned by the company. So, it is the first reason confirming the need to improve a footballer's performance rights valuation. Football agents are the most active participants in the football market. They are not only a party to the player's performance rights transaction, but they also can create a demand on this market. An effective agent can convince club managers of 118 the usefulness of the footballer for the club. This group of market participants should be also interested in the proper valuation of players' performance rights because they make money on the transactions as interest on the amount of the transaction. The third group should be interested in the precise valuation of football players. This type of information could be also used in cases of sport arbitrage, when the parties of a sport contract are not agreed and there is a need to estimate lost profits.The main goal of this article is to indicate the possibilities of using the product life cycle theory and trinomial tree method in a footballers' performance rights valuation process. The article should be treated as a case study using quantitative methods and objects for pricing the performance rights of three footballers: Wayne Rooney from Manchester United Football Club, Robert Lewandowski and Mario Götze both from Bayern Munich Football Club. The data is collected from web page transfermarkt. de in September 2015. Both econometric linear and non-linear models were used to test the best approximation of the life cycle curves. The shape of a curve suggests how to estimate the volatility to the trinomial tree.
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