Learn More
Algebraic program models with procedures are designed to analyze program semantic properties on their models called program schemes. Liberisation and equivalence problems are stated for program models with procedures. A subclass of program models with procedures called special gateway models is investigated. A better complexity algorithm for the(More)
Are celebrity endorsements worthwhile investments in advertising? To answer this question, we analyze a unique sample of 101 announcements made between 1996 and 2008 by firms listed in the USA. Internet is the main medium of communication for these announcements. We employ event study methodology and document statistically insignificant abnormal returns(More)
Algebraic program models with procedures are designed to analyze program semantic properties on their models called program schemes. The concepts that give foundation to the theory of such models are stated along with a description of their implementation. The key point of the theory is the equivalence of program schemes that belong to a particular model. A(More)
This paper analyzes determinants of country default risk in emerging markets, reflected by sovereign yield spreads. The results reported so far in the literature are heterogeneous with respect to significant explanatory variables. This could indicate a high degree of uncertainty about the ''true'' regression model. We use Bayesian Model Averaging as the(More)
Numerous studies have attempted to analyze the impact of political variables on stock market performance. The majority of these studies document a statistically insigni…cant response of stock markets to changes in the political environment. Possible explanations include the market's ability to price future events accurately and the existence of model(More)
  • 1