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Publisher: KSP Journals   (Total: 6 journals)   [Sort by number of followers]

Showing 1 - 6 of 6 Journals sorted alphabetically
J. of Economic and Social Thought     Open Access   (Followers: 1)
J. of Economics and Political Economy     Open Access   (Followers: 5)
J. of Economics Bibliography     Open Access  
J. of Economics Library     Open Access   (Followers: 8)
J. of Social and Administrative Sciences     Open Access  
Turkish Economic Review     Open Access  
Journal Cover Journal of Economics Library
  [8 followers]  Follow
    
  This is an Open Access Journal Open Access journal
   ISSN (Print) 2149-2379
   Published by KSP Journals Homepage  [6 journals]
  • Optimal Asset Allocation of a Pension Fund: Does The Fear of Regret
           Matter'

    • Authors: Oyakhilome IBHAGUI
      Pages: 130 - 159
      Abstract: Abstract. In this paper, which presents a simplified behavioral finance model, we incorporate regret into the decision-making process of a pension fund and derive the optimal asset allocation of a final-wealth-maximizing pension fund in the accumulation and decumulation phases. We find that the optimal allocation must be congruent in both phases if and only if the pension fund is upside regret averse. In particular, our results suggest that allocation to risky assets must increase through time in the accumulation and decumulation phases so that the pension fund can realize gains from any upsides in the risky asset market, thereby maximizing final wealth and limiting the feeling of regret ex-post. Although decisions in both phases are congruent, we find that the optimal asset allocation generally depends on wealth levels. This evidence implies that separate management of the accumulation and decumulation phases of a pension fund decreases available wealth levels and is not an optimal strategy.Keywords. Financial Markets. Asset allocation. Log-logistic. Modified utility. Mortality. Pension fund. Regret aversion.JEL. G23, G11, C61.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1281
      Issue No: Vol. 4, No. 2 (2017)
       
  • Financial Equilibrium in the Presence of Technological Change

    • Authors: Krzysztof WASNIEWSKI
      Pages: 160 - 171
      Abstract: Abstract. This article explores the issue of observable instability in financial markets interpreted as a long-term process of adaptation to demand for money, which, in turn, is based on the expected depreciation of fixed assets. Exploration is based on verifying empirically the hypothesis that the velocity of money is significantly, negatively correlated with the pace of technological change. The purpose of exploration is to assess the well-founded of policies, which use financial and monetary tools, rather than the straightforwardly fiscal ones, to stimulate technological change. Empirical research suggests that aggregate depreciation of fixed assets is a significant factor inducing slower a circulation of money.Keywords. Money, Financial markets, Technological change.JEL. E10, E30.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1294
      Issue No: Vol. 4, No. 2 (2017)
       
  • Dynamisc in Educational Outcomes by Gender: Evidence from Pakistan

    • Authors: Madeeha Gohar QURESHI, Abdul QAYYUM
      Pages: 172 - 186
      Abstract: Abstract. There is strong empirical evidence that show females as a marginalized group in many aspect within Pakistan with its education sector being no different. However it is extremely important not only to document this fact but to analyze how such tendencies are evolving over time within society. This paper is an attempt in this direction, whereby in our analysis not only we assess how different are female and male population in terms of their current enrollment and attained education patterns but also in terms of structure of change in their attainment distribution as we move from older towards younger cohorts. Our findings show though gender should remain an important policy concern in domain of education sector given the prominent discrepancies in current enrolment and attained schooling estimates within male and female population, however distributional analysis of attainment patterns over age cohorts show that there is definitely some evidence of structural shifts in terms of changing economic constraints and social norms within Pakistan. This can be inferred from evidence that show much stronger inclination of higher education in younger cohorts within female attainment distribution.Keywords. Educational attainment, Gender, Age cohort analysis, Pakistan.JEL. I21, J16.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1276
      Issue No: Vol. 4, No. 2 (2017)
       
  • Competitive Dynamics of Artificial Intelligence Economy: The Wicked
           Problem of Cognitive Competition

    • Authors: Al NAQVI
      Pages: 187 - 193
      Abstract: Abstract. The competitive dynamics of the early 21st century competition are being reshaped. Much has changed in recent years as the rise of artificial intelligence is emerging as a powerful force. Less understood, but overwhelmingly felt, the change is shattering the traditional vertical boundaries. With tech firms now encroaching the traditional verticals, the need for strategic realignment is apparent. Non-tech firms are responding with acquiring tech firms. Tech firms are responding with trespassing into the non-tech domains. This creates a wicked problem for traditional non-tech firms: traditional sellers of technology are now becoming fierce competitors andtraditional non-tech firms must adapt to this new reality by developing technology of their own. This paper adds to the literature in various ways. First, the paper presents a model that captures the unique properties of artificial intelligence competition. Second, the paper argues that to stay competitive non-tech firms would need to acquire multidisciplinary innovation capability as well as embrace high-performance innovation culture.Keywords. Artificial intelligence, Cognitive competition, Business strategy, Autonomous agents.JEL. O00, O30, M00, M10, L00, L10.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1319
      Issue No: Vol. 4, No. 2 (2017)
       
  • Impact of size of the National Asset Funds on Economic Development: Panel
           Data Analysis on Select Nations

    • Authors: Mehmet AKYOL, Barış YILMAZ
      Pages: 194 - 205
      Abstract: Abstract. National asset funds are introduced to use the current transaction surplus, except the official reserves, in the most effective way possible. It is possible to cite the sources of these funds as commodity and non-commodity sources. The initial practices have been seen in oil-rich Gulf countries as well as Asian nations which have been successful in export activities. There are different national asset funds in a number of countries in the world exhibiting different management styles. The primary goals include ensuring sustainable development, creating sources, conducting development projects and accumulating savings for future generations. In addition, they are also used to deal with possible economic crises. But these funds are being criticized because they are allegedly not transparent and they can be used as independent budget by governments. Currently, the impacts of these funds upon economic growth have been a matter of academic curiosity. The purpsose of this paper is to analyze the impact of the size of the national asset funds upon economic growth by reliance on a panel analysis of six nations employing asset funds. The findings in the analysis show that increase in the size of the national asset funds has a positive impact upon economic growth of the nations.Keywords. National asset fund, Economic growth, Panel data analysis.JEL. C10, C20, G23, O40.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1330
      Issue No: Vol. 4, No. 2 (2017)
       
  • A Predictive Analysis of the Indian FMCG Sector using Time Series
           Decomposition - Based Approach

    • Authors: Jaydip SEN, Tamal DATTA CHAUDHURI
      Pages: 206 - 226
      Abstract: Abstract. Stock price movements being random in its nature, prediction of stock prices using time series analysis presents a very difficult and challenging problem to the research community. However, over the last decade, due to rapid development and evolution of sophisticated algorithms for complex statistical analysis of large volume of time series data, and availability of high-performance hardware and parallel computing architecture, it has become possible to efficiently process and effectively analyze voluminous and highly diverse stock market time series data effectively, in real-time. Robust predictive models are being built for accurate forecasting of values of highly random variables such as stock price movements. This paper has presented a highly reliable and accurate forecasting framework for predicting the time series index values of the fast moving consumer goods (FMCG) sector in India. A time series decomposition approach is followed to understand the behavior of the FMCG sector time series for the period January 2010 till December 2016. Based on the structural analysis of the time series, six methods of forecast are designed. These methods are applied to predict the time series index values for the months of 2016. Extensive results are presented to demonstrate the effectiveness ofthe proposed decomposition approaches of time series and the efficiency of the six forecasting methods.Keywords. Time series decomposition, Trend, Seasonal, Random, Holt Winters Forecasting model, Auto Regression (AR), Moving Average (MA), Auto Regressive Integrated Moving Average (ARIMA), Partial Auto Correlation Function (PACF), Auto Correlation Function (ACF).JEL. G11, G14, G17, C63.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1282
      Issue No: Vol. 4, No. 2 (2017)
       
  • A Review of Franchising Research in Taiwan Social Science Citation Index
           (TSSCI) Database

    • Authors: Chin-Chiung KUO, Chi-Fang LIU
      Pages: 227 - 237
      Abstract: Abstract. This study investigated the current developmental state of research on franchise systems in Taiwan. A systematic literature review was conducted, in which studies published by the Taiwan Social Science Citation Index were used as the primary data and studies related to franchise systems were analyzed. The results showed that the most common types of research conducted by Taiwanese scholars were quantitative research (56.25%), case studies (25.0%), conceptual papers (12.5%), and qualitative research (6.25%). Of all the related topics investigated by Taiwanese scholars, entrepreneur traits, motivation for joining (or opening) a franchise system; performance; business types; and knowledge, technologies, and innovations were the most frequently explored. The most common theories examined were agency (22.22%), resource scarcity (16.67%), information asymmetry (11.11%), transaction cost (11.11%), intellectual capital(5.56%), resource dependence (5.56%), dynamic knowledge creation (5.56%), resource constraint (5.56%), social identity (5.56%), risk allocation (5.56%), and communication (5.56%) theories.Keywords. Systematic literature review, Taiwanese Social Science Citation Index (TSSCI), Franchise system.JEL. M10, L33, L52.
      PubDate: 2017-07-13
      DOI: 10.1453/jel.v4i2.1324
      Issue No: Vol. 4, No. 2 (2017)
       
  • Innovation and Global Issues in Social Sciences 2017

    • Authors: Fahrettin PALA
      Pages: 238 - 240
      Abstract: Abstract. The Congress on Innovation and Global Issues in Social Sciences 2017 was organized by InGlobe and within the framework of this, an independent platform was created by academics, bureaucrats, and NGOs. The congress was also supported by Governorship of Kaş, Municipality of Kaş, Patara Culture and Tourism Association. It took place on 27th-29th of April 2017 in Ancient City of Patara – in Kaş District of Antalya – with participation of academics, bureaucrats, and students from difference countries. Purpose of the Congress; To create innovative solutions to global problems by creating a platform where academicians, bureaucrats and non-governmental organizations worldwide will share their knowledge and experiences. It is aimed to include original works that deal with current affairs, global events, innovative approaches from all fields of social sciences. The presentation languages of the Congress are Turkish and English. It is possible to publish studies in German, Russian, French, Georgian as well as Turkish (All Dialects) and English languages in the context of the Congress.Keywords. Innovative approach, Global ıssues, InGlobe.JEL. G30, G32.
      PubDate: 2017-06-18
      DOI: 10.1453/jel.v4i2.1334
      Issue No: Vol. 4, No. 2 (2017)
       
  • New Economics Books

    • Authors: Journal of Economics Library
      Pages: 241 - 287
      Abstract: A wide ranged Editor Selection of economic books published within the last 3 months by the publishers (for now; Cambridge University Press, Edward Elgar, Elsevier, MIT Press, Palgrave MacMillan, Springer, Wiley, and World Scientific) which are reached out “the consensus of no copyright infringement exists” could be found under this title. Afterwards, JEL will continue to publish the economic books published within the last 3 months as listing them in its quarter edition. This is expected to enable the journal readers to follow the related literature and be aware of the new books. The list will continue to expand as accepting the books of new co-operated publishers and personal applications. The list order is organized according to book titles’ alphabetic priority.
      PubDate: 2017-06-18
      DOI: 10.1453/jel.v4i2.1335
      Issue No: Vol. 4, No. 2 (2017)
       
 
 
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