Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

Digital technology usage, strategic flexibility, and business model innovation in traditional manufacturing firms: The moderating role of the institutional environment

How does the digital transformation drive digital technology innovation of enterprises? Evidence from enterprise's digital patents

PurposeIn this study, the researchers explored the roles played by digital technologies and digital innovation (DI) in Pakistan's Information, Communication and Technology (ICT) companies' firm performance (FP).Design/methodology/approachThe researchers used a quantitative study to gather cross-sectional data from employees working in Pakistan's ICT companies. The authors based this study's findings on 396 valid samples.FindingsThe structural equation modeling (SEM) findings underline that digital capability (DC), digital orientation (DO) and digital transformation (DT) have positive and significant effects on DI and FP. Moreover, there is a positive and significant relationship between DI and FP. Finally, DI mediates DC's, DO's and DT's associations with FP.Practical implicationsBy committing to embracing new digital technologies and updating existing DCs to become innovation leaders and to improve FP, the findings will help sectors to take advantage of developing digital technologies and the trend toward digitalization. The results are also valuable for policymakers when considering if SMEs should be provided with more money for the digital up-skilling of their employees. Finally, this study's findings enrich the depth of literature about companies' use of digital technologies.Originality/valueThis study's empirical findings confirm the roles played by DC, DO and DT in improving DI and FP in a developing country such as Pakistan.

The role of digital technology and digital innovation towards firm performance in a digital economy

Fintech allows investors to explore previously unavailable investment opportunities; it provides new return opportunities while also introducing new risks. The aim of this study is to investigate the relationship between risk and return in the fintech industry in the Indian stock market. This article is based on market-based research that focuses on demonstrating the volatility in the fintech market’s prices and demystifying the opportunities. Secondary data were collected from the Bombay Stock Exchange’s official fintech industry website from January 2017 to July 2022 to determine whether there is any dynamic link between risk and return in the Indian fintech market. The variance-based Mean-GARCH (GARCH-M) model was used to determine whether there is a dynamic link between risk and return in the Indian fintech market. The findings emphasize the importance of taking the risk of investing in India’s fintech industry. The implications for stock investors’ and fund managers’ portfolio composition and holding periods of equities or market exposure are significant. Finally, depending on their investment horizons, the Indian fintech industry may yield significant profits for risk-taking individuals.

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The Dynamic Connectedness between Risk and Return in the Fintech Market of India: Evidence Using the GARCH-M Approach

Based on the knowledge-based view, this study investigates how firms' information technology (IT) capability broadens and deepens their knowledge base, which consequently improves digital innovation. By further drawing on the institutional theory perspective, this study examines how the relationships between IT capability and knowledge base are moderated by the institutional environments in which the firm operates.,This paper uses 170 samples of Chinese firms and an empirical test conducted by the authors following a hierarchical moderated regression analysis.,The results find that IT capability positively affects knowledge breadth and knowledge depth, which consequently improves digital innovation. Furthermore, the study reveals the negative moderating effects of enforcement inefficiency on IT capability–knowledge breadth relationship, and the negative moderating effects of government support on IT capability–knowledge depth relationship.,This research is one of the earliest attempts to explore the impact of the institutional environment of emerging economies on IT capability. It also clarifies the impact of knowledge breadth and knowledge depth on digital innovation.

The effects of information technology capability and knowledge base on digital innovation: the moderating role of institutional environments

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The effects of information technology capability and knowledge base on digital innovation: the moderating role of institutional environments