https://www.um.edu.mt/library/oar/handle/123456789/72590 Wed, 08 Apr 2026 23:20:23 GMT 2026-04-08T23:20:23Z https://www.um.edu.mt/library/oar/handle/123456789/73418 Title: Preliminary results of a healthcare contingent valuation study in Greece Authors: Mavrodi, Afentoula G.; Aletras, Vassilis H. Abstract: Purpose: The primary aim of the present study was to elicit a WTP estimate for a health improvement targeting the general Greek population. Moreover, it intended to investigate socioeconomic, demographic and determinants differences between those willing to pay for a health improvement and those not willing to pay for such an improvement (protest responders). Design/Methodology/Approach: A specially designed questionnaire employing the iterative bidding technique and the EuroQoL-5D-3L tool was used. A representative sample of the general Greek population (n=1,342) completed the questionnaire via telephone interviews –computer-assisted telephone interview method for random sample selection. Socioeconomic, demographic and determinants differences between participants willing to pay (n=528) and protest responders (n=395) were assessed through Chi-square and Mann-Whitney U Test. Findings: The average WTP estimate for a health improvement was €26,280. Participants willing to pay for a health improvement differed significantly from protest responders with respect to age (p=0.000), household size (p=0.018), number of household members having a part- or full-time job (p=0.000), education (p=0.000), marital status (p=0.000), household income (p=0.000) and utility (p=0.003). Respondents willing to pay for the hypothetical treatment differed significantly from protest responders with respect to their views towards quality of healthcare services and healthcare personnel (p=0.000 and 0.005, respectively). Practical Implications: Preliminary findings revealed that, when the general Greek population is considered, the WTP estimate for a health improvement falls within the World Health Organization’s criterion currently used in Greek healthcare economic evaluations. Originality/Value: To the best of our knowledge, this is the first study aiming at eliciting a monetary value for a health improvement targeting the general Greek population and identifying socioeconomic differences between willing and not willing to pay individuals. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/73418 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/73417 Title: Does the sustainability index make a difference in returns? Authors: Serap Vurur, N. Abstract: Purpose: The purpose of this study is to examine if the sustainability index influnces returns differently than other indices. It compares sustainability index with other indices in the case of the Turkish state. Design/Methodology/Approach: The article uses the Sharpe, Jensen, and Treynor’s criteria for the empirical analysis comparing stock market indices data in the period of 2014-2016 with the sustainability index. Findings: According to the findings, it was determined that the Bist 100, Bist 50, Bist 30, Bist whole, and sustainability index could not provide a return above the investors' risk-free interest rate in the related period. When evaluated in terms of beta coefficients, it can be said that the sustainability index is similar to the beta value of the other indices. When we look at the coefficients of the determinants, it is seen that diversity is best in Bist 100 and sustainability index. Similar results were obtained according to Sharpe, Treynor, and Jensen’s performance criteria used as well. The highest performance achieved is the Bist 30 index, while the sustainability index ranked second behind the Bist 30 index. Practical Implications: As can be seen from the literature review, studies generally investigated the effect of being included in the sustainability index on financial performance however they have not yet covered the issue extensively. The present study is a case for Turkey where similar studies have been published with controversial results. Originality/Value: Since there are not enough studies comparing the sustainability index with other indices in terms of risk and return this study aims to fill this gap. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/73417 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/73416 Title: From IAS 39 to IFRS 9 : literature review of studies on the implementation of IFRS in the European banking sector Authors: Eriotis, Nikolaos; Kounadeas, Theodoros; Vasiliou, Dimitrios Abstract: Purpose: The study analyses theoretically the impact of accounting rules on the quality of information given by the financial statements of entities which operate in the European banking industry. Design/Methodology/Approach: Content analysis of studies on the Implementation of IFRS in the European Banking Sector. Findings: IASB introduced IFRS 9, as substitute of IAS 39, to improve mechanisms of classification and measurement of Financial Instruments, deemed as one of the main causes triggering the financial crisis. The financial crisis, which started in 2008, led regulators to believe that accounting standards contributed to financial stability or instability. Practical Implications: The primary goal of accounting standards and the financial statements produced under them is not to contribute to financial stability, but to provide information for investors to make a wide range of decisions and contractual arrangements. Originality Value: The information that accounting standard-setters consider relevant for investors may not be the same as that considered relevant by prudential regulators. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/73416 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/73415 Title: Co-movements amongst gold and oil : a multivariate time-varying asymmetric approach Authors: Toumi, Sirine Abstract: Purpose: This research analyses how gold and oil prices variables interact focusing on different Global financial crisis (GFC) phases. Design/Methodology/Approach: We adopt a dynamic conditional correlation FIAPARCH model framework, during the period spanning from January 1st, 2000 until December 31th, 2017. Findings: . Our empirical results suggest correlations’ asymmetric responses among them. Moreover, the results indicate a correlations increase of gold and oil, during the crisis periods, suggesting different prices vulnerability. Practical Implications: The conditional correlation surrounded by pairs gold and oil displays higher dependency when it was driven by negative expansions to variations than it is by positive improvements. In addition, market correlations turn out to be more volatile throughout the global financial crisis. The time-varying correlation coefficients empirical analysis, during the main crisis periods, provides contagion approval evidence. Originality/Value: Our empirical results seem to be essential to researchers and practitioners and mainly to active investors and portfolio managers who include gold and oil in their equities portfolios. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/73415 2019-01-01T00:00:00Z