Econometric Models in Resident Value of Investment

Authors

  • Paweł Kliber Poznan University of Economics
  • Artur Stefański WSB School of Banking in Poznan

DOI:

https://doi.org/10.12775/OeC.2013.022

Keywords:

resident value, estimation of investment’s efficiency

Abstract

The aim of the study is to analyze what is the impact of: analyze period, resident value estimation method, discount rate and economic sector of the investor on the level of resident value to initial value of investment ratio. In the article, basing on 43 investments made by investors form MSP sector whose purpose was to purchase truck car of capacity to 3,5t, four econometric models were prepared: logit, probit, tobit, and logit-tobit to explain the dependence described in the aim of the study. All models are statistically important. In all models only one independent variable is always statistically important ? analyze period. The longer analyze period is, the smaller resident value to initial value of investment ratio is. In order to compare models: MSE, RMSE, MAE, MAPE ratios were used. The best adaptation to data was observed when logit-tobit model is used

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References

Czarnek J. (2010), Ocena efektywności i jej elementy [w:] J. Czarnek (red.) Efektywność projektów inwestycyjnych, TNOiK Dom Organizatora, Toruń.
Gil W. (2008), Struktura i kalkulacja przepływów pieniężnych na potrzeby oceny efektywności inwestycji [w:] S. Wrzosek (red.) Ocena efektywności inwestycji, Uniwersytet Ekonomiczny we Wrocławiu, Wrocław.
Greene W.H. (2003), Econometric Analysis, Prentice Hall, New York.
Maddala G.S. (2006), Ekonometria, Wydawnictwo Naukowe PWN, Warszawa.
Rogowski W. (2006), Rachunek efektywności przedsięwzięć inwestycyjnych, Oficyna Ekonomiczna, Kraków.

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Published

2013-09-30

How to Cite

Kliber, P., & Stefański, A. (2013). Econometric Models in Resident Value of Investment. Oeconomia Copernicana, 4(3), 49–63. https://doi.org/10.12775/OeC.2013.022

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