Papers by Milad Abdelnabi
This paper examines the long-term equilibrium between South Africa's stock index and selecte... more This paper examines the long-term equilibrium between South Africa's stock index and selected macroeconomic variables using vector error-correction models (VECM). Upon testing for co-integration, long run structural equation modelling (LRSM) and VECM, the results indicate that industrial production is the most important determinant of stock market prices. This suggests that South Africa's stock market is highly sensitive to the country's industrial production. Money supply, inflation, and exchange rates are other determinants of South Africa's stock index but to a lesser extent than industrial production. The study found that the macroeconomic variables comprising industrial production, inflation, money supply, and exchange rate are co-integrated on the long run with stock market prices. These findings have implications for policy makers in the sense that any changes in the 2
Indian Journal of Science and Technology, 2016
Our paper estimates the speed of moment adjustment based on the first difference of the lead (t+1... more Our paper estimates the speed of moment adjustment based on the first difference of the lead (t+1) leverage levels (actual lead) and lag (t-1) leverage levels (actual lag) to the first difference of simulated lead (target) leverage levels and lag levels (actual lag leverage) for firm level data. We introduce an intrinsic limitation (financial constraints) to the model to test the impact on speed of adjustment and distance reduction. We find that financial constraints have a statistically and economically significant impact on rate of adjustment and distance reduction to target leverage levels.
This paper discusses on the relationship between the corporate environmental performance and the ... more This paper discusses on the relationship between the corporate environmental performance and the eco-efficiency concept. It based on an extensive review of the related literature for the purpose of justification of using ecoefficiency concept as proxy of corporate environmental performance. It also highlights on the main used definition in the environmental related studies, and the differences between these definitions. Moreover, the paper emphasizes the measurement issue with regard to environmental aspects. The paper concluded that the ecoefficiency concept incorporates the main environmental performance indicators such as clean production, pollution prevention, and waste minimization. Additionally, the eco-efficiency concept has advantages over other environmental performance measures; this due to that eco-efficiency measure can give the real environmental performance of the corporations under investigation regardless of the nature differences between the industrial sectors of these corporations.
Uploads
Papers by Milad Abdelnabi