IDEAS home Printed from https://ideas.repec.org/a/bas/econth/y2002i1p56-72.html
   My bibliography  Save this article

Modelling Investment Decisions though Logistic Regressions (using data on mass privatisation)

Author

Listed:
  • Aleksandar Tsvetkov
  • Mariana Kotseva

Abstract

The article describes an attempt to use, through microeconomic models, factors and causes determining investor’s behaviour of the participants in the mass privatisation. In particular the object of the research is the demand of stocks issued by the offered for privatisation enterprises. The survey includes all enterprises listed on the three auctions of the first round of mass privatisation, carried out in 1996. The results of the estimated model of the logistic regression show that the investors have made their decisions for buying stocks from enterprises guided by the classical investment and finance theory. The data shows that enterprises with positive profitability, low immobilization of property, high turnover of the capital, lower debts and bigger share of stocks listed on the auction, have higher probability for buying out. The investor’s attention has been directed to enterprises in light industry and in services.

Suggested Citation

  • Aleksandar Tsvetkov & Mariana Kotseva, 2002. "Modelling Investment Decisions though Logistic Regressions (using data on mass privatisation)," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 56-72.
    • Handle: RePEc:bas:econth:y:2002:i:1:p:56-72
    as

    Download full text from publisher

    File URL: http://www.ceeol.com/aspx/issuedetails.aspx?issueid=af1f1f38-671c-49f1-8e73-6dd8bd5e3b92&articleid=bb621c74-84e0-4c5b-a33a-15f7731f21c2#abb621c74-84e0-4c5b-a33a-15f7731f21c2
    Download Restriction: Free access
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Amemiya, Takeshi, 1981. "Qualitative Response Models: A Survey," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1483-1536, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arturo Estrella & Anthony P. Rodrigues, 1998. "Consistent covariance matrix estimation in probit models with autocorrelated errors," Staff Reports 39, Federal Reserve Bank of New York.
    2. Seyoung Chae & Almas Heshmati, 2024. "The effects of lifetime work experience on incidence and severity of elderly poverty in Korea," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 26(2), pages 521-554, August.
    3. T.R.L. Fry & R.D. Brooks & Br. Comley & J. Zhang, 1993. "Economic Motivations for Limited Dependent and Qualitative Variable Models," The Economic Record, The Economic Society of Australia, vol. 69(2), pages 193-205, June.
    4. Banerjee, Swagata (Ban) & Martin, Steven W. & Roberts, Roland K. & Larson, James A. & Hogan, Robert J., Jr. & Johnson, Jason L. & Paxton, Kenneth W. & Reeves, Jeanne M., 2007. "Adoption of Conservation-Tillage Practices in Cotton Production," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34842, Southern Agricultural Economics Association.
    5. Paleti, Rajesh, 2018. "Generalized multinomial probit Model: Accommodating constrained random parameters," Transportation Research Part B: Methodological, Elsevier, vol. 118(C), pages 248-262.
    6. Maria Iacovou, 2002. "Class Size in the Early Years: Is Smaller Really Better?," Education Economics, Taylor & Francis Journals, vol. 10(3), pages 261-290.
    7. Erik Stam & Roy Thurik & Peter van der Zwan, 2010. "Entrepreneurial exit in real and imagined markets," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(4), pages 1109-1139, August.
    8. Saem Lee & Trung Thanh Nguyen & Patrick Poppenborg & Hio-Jung Shin & Thomas Koellner, 2016. "Conventional, Partially Converted and Environmentally Friendly Farming in South Korea: Profitability and Factors Affecting Farmers’ Choice," Sustainability, MDPI, vol. 8(8), pages 1-18, July.
    9. Ahmet Kubas & I. Inan & Gokhan Unakitan & E. Erbay, 2008. "The Estimation of the Relationships between Water-Natural Gas Usage and Discharge-Emission Permission by Using Binary Logistic Model for the Industrial Establishments," Quality & Quantity: International Journal of Methodology, Springer, vol. 42(1), pages 35-44, February.
    10. Chu-Ping C. Vijverberg & Wim P. M. Vijverberg, 2016. "Pregibit: a family of binary choice models," Empirical Economics, Springer, vol. 50(3), pages 901-932, May.
    11. Pigini, Claudia, 2021. "Penalized maximum likelihood estimation of logit-based early warning systems," International Journal of Forecasting, Elsevier, vol. 37(3), pages 1156-1172.
    12. Anton Badev, 2014. "Discrete Games in Endogenous Networks: Theory and Policy," 2014 Meeting Papers 901, Society for Economic Dynamics.
    13. Guadalupe, Maria, 2003. "The hidden costs of fixed term contracts: the impact on work accidents," Labour Economics, Elsevier, vol. 10(3), pages 339-357, June.
    14. Sarah Ann Wheeler & Céline Nauges & Alec Zuo, 2021. "How stable are Australian farmers’ climate change risk perceptions? New evidence of the feedback loop between risk perceptions and behaviour," Post-Print hal-04670841, HAL.
    15. Haoying Wang & Guohui Wu, 2022. "Modeling discrete choices with large fine-scale spatial data: opportunities and challenges," Journal of Geographical Systems, Springer, vol. 24(3), pages 325-351, July.
    16. Y. Saks, 2016. "Socio-economic transitions on the labour market : a European benchmarking exercise," Economic Review, National Bank of Belgium, issue iii, pages 41-58, December.
    17. Kodila-Tedika, Oasis & Khalifa, Sherif, 2022. "State History and State Fragility in Sub-Saharan Africa," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 47(4), pages 39-53, December.
    18. Garcia, Philip & Hudson, Michael A. & Waller, Mark L., 1988. "The Pricing Efficiency of Agricultural Futures Markets: An Analysis of Previous Research Results," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(1), pages 119-130, July.
    19. Esaka, Taro, 2010. "De facto exchange rate regimes and currency crises: Are pegged regimes with capital account liberalization really more prone to speculative attacks?," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1109-1128, June.
    20. Haaijer, Marinus E., 1996. "Predictions in conjoint choice experiments : the x-factor probit model," Research Report 96B22, University of Groningen, Research Institute SOM (Systems, Organisations and Management).

    More about this item

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bas:econth:y:2002:i:1:p:56-72. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Diana Dimitrova (email available below). General contact details of provider: https://edirc.repec.org/data/ikbasbg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.