IDEAS home Printed from https://ideas.repec.org/a/spr/soinre/v146y2019i1d10.1007_s11205-018-1885-4.html
   My bibliography  Save this article

The MIMIC–CUB Model for the Prediction of the Economic Public Opinions in Europe

Author

Listed:
  • Maurizio Carpita

    (University of Brescia)

  • Enrico Ciavolino

    (University of Salento)

  • Mariangela Nitti

    (University of Salento
    University of Salento)

Abstract

To study the Europeans’ perception on the economic conditions, a model that combine Multiple Indicators Multiple Causes (MIMIC) and Combination of Uniform and shifted Binomial (CUB) is proposed. The MIMIC–CUB Model, estimated at country-level using the Partial Least Squares, specifies the influence of the economic forecast news on a latent variable named “Citizens’ perception of the European economics health state”. The survey is related, at both national and EU level, to the period 2005–2014.

Suggested Citation

  • Maurizio Carpita & Enrico Ciavolino & Mariangela Nitti, 2019. "The MIMIC–CUB Model for the Prediction of the Economic Public Opinions in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 146(1), pages 287-305, November.
  • Handle: RePEc:spr:soinre:v:146:y:2019:i:1:d:10.1007_s11205-018-1885-4
    DOI: 10.1007/s11205-018-1885-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11205-018-1885-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s11205-018-1885-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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. Sylke Nissen, 2014. "The Eurobarometer and the process of European integration," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(2), pages 713-727, March.
    2. Nick Lee & John W. Cadogan & Laura Chamberlain, 2013. "The MIMIC model and formative variables: problems and solutions," AMS Review, Springer;Academy of Marketing Science, vol. 3(1), pages 3-17, March.
    3. Laura Bottazzi & Marco Da Rin & Thomas Hellmann, 2016. "Editor's Choice The Importance of Trust for Investment: Evidence from Venture Capital," The Review of Financial Studies, Society for Financial Studies, vol. 29(9), pages 2283-2318.
    4. L. Bottazzi & M. Da Rin & T. Hellmann, 2007. "The Importance of Trust for Investment: Evidence from Venture Capital," Working Papers 612, Dipartimento Scienze Economiche, Universita' di Bologna.
    5. D'Elia, Angela & Piccolo, Domenico, 2005. "A mixture model for preferences data analysis," Computational Statistics & Data Analysis, Elsevier, vol. 49(3), pages 917-934, June.
    6. Diamantopoulos, Adamantios & Riefler, Petra & Roth, Katharina P., 2008. "Advancing formative measurement models," Journal of Business Research, Elsevier, vol. 61(12), pages 1203-1218, December.
    7. Djankov, Simeon & Nikolova, Elena & Zilinsky, Jan, 2016. "The happiness gap in Eastern Europe," Journal of Comparative Economics, Elsevier, vol. 44(1), pages 108-124.
    8. Jarvis, Cheryl Burke & MacKenzie, Scott B & Podsakoff, Philip M, 2003. "A Critical Review of Construct Indicators and Measurement Model Misspecification in Marketing and Consumer Research," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 30(2), pages 199-218, September.
    9. Virag Havasi, 2013. "Financial Situation and Its Consequences on the Quality of Life in the EU Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(1), pages 17-35, August.
    10. Manisera, Marica & Zuccolotto, Paola, 2014. "Modeling rating data with Nonlinear CUB models," Computational Statistics & Data Analysis, Elsevier, vol. 78(C), pages 100-118.
    11. D. Maltritz & A. Bühn & S. Eichler, 2012. "Modelling country default risk as a latent variable: a multiple indicators multiple causes approach," Applied Economics, Taylor & Francis Journals, vol. 44(36), pages 4679-4688, December.
    12. Jaya Krishnakumar & A. Nagar, 2008. "On Exact Statistical Properties of Multidimensional Indices Based on Principal Components, Factor Analysis, MIMIC and Structural Equation Models," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 86(3), pages 481-496, May.
    13. Leonardo Grilli & Maria Iannario & Domenico Piccolo & Carla Rampichini, 2014. "Latent class CUB models," Advances in Data Analysis and Classification, Springer;German Classification Society - Gesellschaft für Klassifikation (GfKl);Japanese Classification Society (JCS);Classification and Data Analysis Group of the Italian Statistical Society (CLADAG);International Federation of Classification Societies (IFCS), vol. 8(1), pages 105-119, March.
    14. Paul Dickes & Alessio Fusco & Eric Marlier, 2010. "Structure of National Perceptions of Social Needs Across EU Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 95(1), pages 143-167, January.
    15. Marc Callens, 2017. "Long Term Trends in Life Satisfaction, 1973–2012: Flanders in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 130(1), pages 107-127, January.
    16. Enrico Ciavolino & Maurizio Carpita & Mariangela Nitti, 2015. "High-order PLS path model with qualitative external information," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(4), pages 1609-1620, July.
    17. Enrico Ciavolino & Mariangela Nitti, 2013. "Using the Hybrid Two-Step estimation approach for the identification of second-order latent variable models," Journal of Applied Statistics, Taylor & Francis Journals, vol. 40(3), pages 508-526.
    18. Antonides, Gerrit & Van Der Sar, Nico L., 1990. "Individual expectations, risk perception and preferences in relation to investment decision making," Journal of Economic Psychology, Elsevier, vol. 11(2), pages 227-245, June.
    19. Matti Hovi & Jani-Petri Laamanen, 2016. "Mind the gap? Business cycles and subjective well-being," Applied Economics Letters, Taylor & Francis Journals, vol. 23(17), pages 1206-1209, November.
    20. M. Nitti & E. Ciavolino, 2014. "A deflated indicators approach for estimating second-order reflective models through PLS-PM: an empirical illustration," Journal of Applied Statistics, Taylor & Francis Journals, vol. 41(10), pages 2222-2239, October.
    21. Goldberger, Arthur S, 1972. "Structural Equation Methods in the Social Sciences," Econometrica, Econometric Society, vol. 40(6), pages 979-1001, November.
    22. Enrico Ciavolino & Maurizio Carpita & Amjad Al-Nasser, 2015. "Modelling the quality of work in the Italian social co-operatives combining NPCA-RSM and SEM-GME approaches," Journal of Applied Statistics, Taylor & Francis Journals, vol. 42(1), pages 161-179, January.
    23. L. Bottazzi & M. Da Rin & T. Hellmann, 2007. "The Importance of Trust for Investment: Evidence from Venture Capital," Working Papers 612, Dipartimento Scienze Economiche, Universita' di Bologna.
    24. Maria Iannario, 2012. "Modelling shelter choices in a class of mixture models for ordinal responses," Statistical Methods & Applications, Springer;Società Italiana di Statistica, vol. 21(1), pages 1-22, March.
    25. Enrico Ciavolino & Amjad Al-Nasser, 2009. "Comparing generalised maximum entropy and partial least squares methods for structural equation models," Journal of Nonparametric Statistics, Taylor & Francis Journals, vol. 21(8), pages 1017-1036.
    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. Jun-Hwa Cheah & Hiram Ting & T. Ramayah & Mumtaz Ali Memon & Tat-Huei Cham & Enrico Ciavolino, 2019. "A comparison of five reflective–formative estimation approaches: reconsideration and recommendations for tourism research," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(3), pages 1421-1458, May.
    2. Enrico Ciavolino & Sergio Salvatore & Piergiorgio Mossi & Gloria Lagetto, 2019. "High-order PLS path model for multi-group analysis: the prosumership service quality model," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(5), pages 2371-2384, September.
    3. Manisera, Marica & Zuccolotto, Paola, 2015. "Identifiability of a model for discrete frequency distributions with a multidimensional parameter space," Journal of Multivariate Analysis, Elsevier, vol. 140(C), pages 302-316.
    4. Leon Zolotoy & Don O’Sullivan & Keke Song, 2021. "The Role of Ethical Standards in the Relationship Between Religious Social Norms and M&A Announcement Returns," Journal of Business Ethics, Springer, vol. 170(4), pages 721-742, May.
    5. Qin, Wei & Liang, Quanxi & Jiao, Yan & Lu, Meiting & Shan, Yaowen, 2022. "Social trust and dividend payouts: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    6. Qiliang Mao & Xianzhuang Mao, 2021. "Cultural barriers, institutional distance, and spatial spillovers: Evidence from regional industrial evolution in China," Growth and Change, Wiley Blackwell, vol. 52(3), pages 1440-1481, September.
    7. Shao, Yan & Sun, Lingxia, 2021. "Entrepreneurs’ social capital and venture capital financing," Journal of Business Research, Elsevier, vol. 136(C), pages 499-512.
    8. Marcus Wiens & Miriam Klein & Frank Schultmann, 2022. "Border Region Attachment: An Empirical Study on Regional Social Capital in the French–German Border Area [Social Capital, Collective Action, and Adaptation to Climate Change]," CESifo Economic Studies, CESifo Group, vol. 68(4), pages 362-390.
    9. Ajzenman, Nicolás & Aksoy, Cevat Giray & Guriev, Sergei, 2022. "Exposure to transit migration: Public attitudes and entrepreneurship," Journal of Development Economics, Elsevier, vol. 158(C).
    10. Mazumder, Sharif & Rao, Ramesh, 2023. "Social trust and the choice between bank debt and public debt: Evidence from international data," Journal of Multinational Financial Management, Elsevier, vol. 67(C).
    11. Dak-Adzaklo, Cephas Simon Peter & Wong, Raymond M.K., 2024. "Corporate governance reforms, societal trust, and corporate financial policies," Journal of Corporate Finance, Elsevier, vol. 84(C).
    12. Xin Li & Xingyuan He & Lu Zhou & Shushu Xie, 2022. "Impact of Epidemics on Enterprise Innovation: An Analysis of COVID-19 and SARS," Sustainability, MDPI, vol. 14(9), pages 1-28, April.
    13. Manisera, Marica & Zuccolotto, Paola, 2014. "Modeling rating data with Nonlinear CUB models," Computational Statistics & Data Analysis, Elsevier, vol. 78(C), pages 100-118.
    14. Nicola Gennaioli & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2022. "Trust and Insurance Contracts," The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5287-5333.
    15. Wagner, Alexander F. & Gibson Brandon, Rajna & Sohn, Matthias & Tanner, Carmen, 2018. "Earnings Management and Managerial Honesty: The Investors’ Perspectives," CEPR Discussion Papers 13207, C.E.P.R. Discussion Papers.
    16. Jin, Ming & Liu, Jinshan & Chen, Zhongfei, 2022. "Impacts of social trust on corporate leverage: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 505-521.
    17. Barber, Brad M. & Morse, Adair & Yasuda, Ayako, 2021. "Impact investing," Journal of Financial Economics, Elsevier, vol. 139(1), pages 162-185.
    18. Bian, Bo & Li, Yingxiang & Nigro, Casimiro A., 2022. "Conflicting fiduciary duties and fire sales of VC-backed start-ups," LawFin Working Paper Series 35, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    19. Li, Jiyuan & Li, Zihui & Zhang, Min, 2023. "CFOs’ facial trustworthiness and bank loan contracts," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 332-357.
    20. Leonardo M. Klüppel & Lamar Pierce & Jason A. Snyder, 2018. "Perspective—The Deep Historical Roots of Organization and Strategy: Traumatic Shocks, Culture, and Institutions," Organization Science, INFORMS, vol. 29(4), pages 702-721, August.

    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:spr:soinre:v:146:y:2019:i:1:d:10.1007_s11205-018-1885-4. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.