Testing the suitability of partial adjustment regressions on the JSE
|When:||Wednesday, 01 March 2017 - Wednesday, 01 March 2017|
|Where:|| Braamfontein Campus West
SEBS Seminar Suite, New Commerce Building
The School of Economic and Business Sciences (SEBS) will host Professor Chimwemwe Chipeta and David Mcclelland to present this research seminar.
The seminar will discuss the trade off against the pecking order models for firms listed on the Johannesburg Stock Exchange. They will argue that the pecking order model has more statistical power than partial adjustment models in rejecting random financing behaviour in simulated data sets. Additionally, the Censored Tobit Regressions appear to perform better that the GMM model at rejecting target adjustment behaviour on randomly generated data sets.
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