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Hutson, Elaine
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Hutson, Elaine
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Hutson, Elaine
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Now showing 1 - 4 of 4
- PublicationCompetitiveness implications for Ireland of EU enlargement(University College Dublin. School of Economics, 2002-09)
; ; ; Ten states, primarily from Central and Eastern Europe, are likely to be admitted to the EU within the next few years. The present paper assesses the competitiveness implications of this enlargement for Ireland. Four specific topics are considered: the trade effects, the implications for Ireland's ability to attract FDI, the likely levels of immigration from Central and Eastern Europe and its consequences, and the budgetary implications for the Irish Exchequer.500 - PublicationCompetitiveness implications for Ireland of EU enlargement(Statistical and Social Inquiry Society of Ireland, 2003)
; ; ; Subject to ratification, a further ten states, primarily from Central and Eastern Europe will accede to the EU in May 2004. Another two, and possibly three, CEE states are likely to join in 2007. The present paper assesses the competitiveness implications of this phase of EU expansion for Ireland. Four specific topics are considered: the opportunities for trade and investment expansion, the implications for Ireland's ability to attract FDI, the likely levels and consequences of immigration from Central and Eastern Europe, and the budgetary implications for the Irish Exchequer.625 - PublicationThe Irish Aviation Authority's cost of capital : report to the Commission for Aviation RegulationThe weighted average cost of capital (WACC) approach is used to estimate the IAA's cost of capital. To implement this approach, it is necessary to estimate the IAA's cost of equity, its cost of debt and its gearing ratio. Following a brief financial summary, the cost of equity is discussed in Section 3, the cost of debt is discussed in Section 4, the IAA's gearing is discussed in Section 5, and Section 6 brings these together in the WACC calculations to derive the estimate of the IAA's cost of capital.
781 - PublicationMedia-expressed negative tone and firm-level stock returnsWe build a corpus of over 5½ million news articles on 20 large US firms over the 10-year period from January 2001 to December 2010, and use it to study the time-varying nature of the relation between media-expressed firm-specific tone and firm-level returns. By estimating a series of separate rolling window vector autoregressive (VAR) models for each firm, we show how media-expressed negative tone impacts firm-level returns episodically in ways that vary across firms and over time. We find that firms experience prolonged periods during which media-expressed tone has no effect on returns, and occasional episodes when it has a significant impact. During the significant episodes, its impacts are sometimes quickly reversed and at other times they endure — implying that media comment and analysis can sometimes be sentiment (or noise), but it can also contain value-relevant information or news. Our findings are in general consistent with efficiently functioning markets in which the media assists with the processing of complex information.
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