Ahmad H Juma'h | University of Illinois at Springfield (original) (raw)
Papers by Ahmad H Juma'h
International Journal of Accounting and Finance, 2022
Revista Finanzas y Política Económica, Jun 1, 2014
<p>Se discuten las implicaciones de la materialidad de la información financiera sobre &quo... more <p>Se discuten las implicaciones de la materialidad de la información financiera sobre "manejo de los ingresos". Implica la descripción y el análisis del contenido de la Codificación de Normas Contables™. Las perspectivas profesionales fueron utilizadas para confirmar la ausencia de directrices de importancia relativa en los Principios de Contabilidad Generalmente Aceptados (en inglés, PCGA) de los EE. UU. Los términos "materialidad", "significancia" e "importancia" fueron usados para determinar la inclusión de materialidad en las codificaciones. Las principales conclusiones indican que, primero, los factores determinantes y las motivaciones internas y externas influyen en las prácticas de "manejos de ganancias" y, segundo, los PCGA de EE. UU. no cuentan con directrices bien definidas para aplicar la materialidad en la toma de decisiones.</p>
Americas Conference on Information Systems, 2021
The widespread use of mobile technology has motivated Blockchain developers and users to embrace ... more The widespread use of mobile technology has motivated Blockchain developers and users to embrace and adopt mobile blockchain technologies. Enabling users to utilize mobile devices for accessing blockchain services and manage digital assets that offer numerous benefits. However, risks regarding the system use and users’ concerns about their information security and privacy also arise. This paper investigates how blockchain apps’ perceived security and privacy levels affect the ratings of the app on online platforms. A dataset of 146 mobile apps that use Blockchain technology was collected to conduct a sentiment analysis for user reviews. Our results demonstrated that the perceived concerns of information security and privacy positively are associated with negative ratings of apps. We also investigate these effects by differentiating the apps according to the risk level of the app and showed that the magnitude of the effect is greater for high-risk apps
In this study, we examine how the performance of companies using cryptocurrencies is affected by ... more In this study, we examine how the performance of companies using cryptocurrencies is affected by the major external events about cryptocurrencies. The subject of our study is the reactions of the stock market on the firm’s disclosure of events related to digital currencies. We identified firms that included the four major cryptocurrencies (Bitcoin, Ripple, Litecoin, and Ethereum) in their financial reports from the Edgar database. We identified major events related to cryptocurrencies and conducted an event study analysis to determine the effects of the events on stock market prices of the companies. Preliminary results indicate a significant effect of external events on firm performance. The extent of effects from regulatory and government-related events and external security breach events as well as industry-related events helps us understand the significance of the investors’ attention to any disclosures of cryptocurrency-related events
Editorial Área de Innovación y Desarrollo,S.L. Quedan todos los derechos reservados. Esta publica... more Editorial Área de Innovación y Desarrollo,S.L. Quedan todos los derechos reservados. Esta publicación no puede ser reproducida, distribuida, comunicada públicamente o utilizada, total o parcialmente, sin previa autorización.
3C Empresa Investigacion Y Pensamiento Critico, Dec 18, 2012
RESUMEN El objetivo de este artículo es explorar la percepción de los gerentes y directores de em... more RESUMEN El objetivo de este artículo es explorar la percepción de los gerentes y directores de empresas farmacéuticas sobre los factores relacionados al establecimiento de centros de R&D en Puerto Rico. Los datos fueron recopilados mediante un cuestionario distribuido a gerentes y directores de una empresa farmacéutica en la Isla. Los resultados indican que todas las aseveraciones relacionadas a la localidad de la Isla son importantes, y la localización geográfica se relaciona con el establecimiento de los centro de R&D.
SpringerBriefs in Economics, 2015
Employment is a key factor in the economic growth of countries. By this, a more equitable social ... more Employment is a key factor in the economic growth of countries. By this, a more equitable social development and more efficient production system are promoted. At present, global employment is affected by challenges generated by economic crisis of higher proportions and requirements of higher production efficiency in multinational enterprises, which are the main determinants of the globalized world.
3C Empresa Investigacion Y Pensamiento Critico, Feb 8, 2013
Análisis de las tendencias y los cambios de la inversión extranjera directa entre los años 1980 a... more Análisis de las tendencias y los cambios de la inversión extranjera directa entre los años 1980 al 2010 en la economía mundial. La inversión extranjera directa (IED) cuenta con cuatro componentes: la entrada de flujos de inversión extranjera directa (EFIED), la salida de flujos de inversión extranjera directa (SFIED), la entrada de acervos de inversión extranjera directa (EAIED) y la salida de acervos de inversión extranjera directa (SAIED). En el análisis se incluyen comparaciones entre los G8, los G20 y el resto del mundo. Entre los hallazgos principales se encontró que la entrada de flujos de inversión extranjera directa mundial y la salida de flujos de inversión extranjera directa mundial han registrado altas y bajas a través de las décadas. La participación proporcional de la mayoría de los países que componen el grupo de los G8 se ha ido reduciendo, mientras que la participación proporcional de algunos países en vías de desarrollo, pertenecientes al grupo de los G20, ha ido aumentando. A su vez, la entrada de acervos de inversión extranjera directa mundial y la salida de acervos de inversión extranjera directa mundial han registrado aumentos consecutivos a través de las décadas (United Nations, 2011, 2012).
In this study, we examine the adoption of Blockchain Technology (BC) by auditors as BC has the po... more In this study, we examine the adoption of Blockchain Technology (BC) by auditors as BC has the potentials to fundamentally change the auditing industry. We first examine auditors’ knowledge in accounting and auditing, their experience in using accounting software, and their general knowledge of BC. We suggest that these factors have a positive impact on BC adoption intention. We also examine auditors’ judgments regarding the sampling size of transactions considering the materiality concept. Lastly, we consider the roles of auditors’ degrees of professional skepticism (PS), defined in professional standards as having a questioning mind and critically assessing evidence. We suggest that both materiality and PS have a negative impact on BC adoption. A survey is conducted among internal and external auditors to collect empirical data to test our research model. The study recognizes some crucial factors that influence auditors’ adoption of BC, providing guidance for research and practice.
Journal of Information Systems
The increasing automation of accounting information makes it imperative for auditors to help orga... more The increasing automation of accounting information makes it imperative for auditors to help organizations design and implement blockchain-based solutions to facilitate transactions. A precursor of this initiative is their acceptance of blockchain. From the task–technology fit and fit-as-mediation perspective, this paper proposes that the technological features of blockchain must fit the task needs of auditors to boost acceptance. A survey of 112 auditors confirms that auditors’ task needs fully mediate the effect of blockchain features on acceptance. Not all blockchain features are equally important: While timestamping is most important for a shared database, the prevention of double-spending is most important for other task needs. It also finds that perceptions of blockchain features and task needs are influenced by auditors’ accounting knowledge and accounting software knowledge, as well as their technology awareness. This shows the importance of strengthening auditors’ knowledge...
Ecos De Economia Issn 1657 4206, Dec 1, 2012
En este trabajo se utiliza un modelo de vectores autorregresivos (vAR) para examinar la interrela... more En este trabajo se utiliza un modelo de vectores autorregresivos (vAR) para examinar la interrelación entre la entrada de flujos de inversión extranjera directa (EFIED), las exportaciones, el producto interno bruto (PIB), la tasa de desempleo (tD) y la tasa de participación laboral (TPL) en Puerto Rico. Los datos utilizados incluyen los años fiscales de 1980 al 2010. se encontraron cuatro vectores cointegrados en el sistema, que evidencian la existencia de una relación de largo plazo entre las variables. Los hallazgos sugieren que aumentos consecutivos en la EFIED podrían reducir significativamente la tD e incrementar el interés de los puertorriqueños por ingresar en la fuerza laboral. El mismo resultado se refleja con relación a los incrementos en el nivel de exportaciones. Las variaciones en el PIB se explican principalmente en el largo plazo por la tD.
This article presents the patent quality relation to firm performance for a sample from the US Bi... more This article presents the patent quality relation to firm performance for a sample from the US Biotechnology and Pharmaceutical Industry. Innovation value (INNV/PAT), innovation importance (INNV/PAT) and overall quality (q)are used as measurement of patent quality and book to market ratio (B/M), firm value (FV), and market capitalization (MCP) are used as measurements of performance. The sample consists of a yearly average of 600 companies, and 285, 000 patents from year 1999 up to 2009. The results show that total revenue is related to patenting and R&D intensity changes, but is not related to innovation value. B/M, FV and MCAP results suggest a possible 10% increase on innovation rates. MCAP andFV relate to innovation value with average growth of 10.3% for the whole sample. B/M relates to quality (q) with average growth of 2.5%. The 3800 SIC coded group results imply; MCAP, B/M, and FVrelate to quality (q) with average growth of 9.4%. These results imply that innovation outputs are perceived and valued differently by stakeholders, and markets. These effects suggest that the qualitative indexes are useful for understanding stock market activity and firm valuation for specific industrial sectors.
International Journal of Accounting and Finance
Fórum Empresarial, 2000
Present and evaluate the literature with respect to business service outsourcing (BSO, with a par... more Present and evaluate the literature with respect to business service outsourcing (BSO, with a particular concentration on a common form of BSO, information technology (IT). The review defines the issues with respect to BSO in terms of drivers and motivations, as well as internal and external implications for BSO companies and their contractors. BSO is an evolution of transaction cost theory and concentration on core business concepts. Although, there are several attempts to explain when a company should outsource, these theoretical frameworks are difficult to apply in practice since satisfaction is a function of expectation and the identification of activities are core commodity is not straightforward.
SSRN Electronic Journal
This article discusses the ways and methods of corporate valuations that include the discounted c... more This article discusses the ways and methods of corporate valuations that include the discounted cash flow models, the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Models (APM), Tobin's q, sales accelerator and cash flow models of investment, and economic base performance measures such as Economic Rent and Excess Market Value. It seems that more innovated methods to detect changes in companies' financial positions are needed. Also, managers' financial experiences are essential for companies to compete in a world with a constant change.
SSRN Electronic Journal, 2006
This article presents the views and assumptions of logical positivism approach and realistic appr... more This article presents the views and assumptions of logical positivism approach and realistic approach in conducting social science research in general and business research in particular. Logical positivism has influenced research methodologies in social science, in particular "model building". The main assumptions of logical positivism are concerned with observation and "verification principle". In the realistic approach of the social science philosophy, the conceptualization idea of theory plays a central role in social science research.
Journal of Accounting and Management Information Systems
Social media is becoming one of the main sources of unstructured data. Many financial analysts us... more Social media is becoming one of the main sources of unstructured data. Many financial analysts use Twitter to gather data and obtain meaningful insights. Recently, high-profile politicians like President Trump have been using Twitter to communicate with the public. The President's Tweets are used as considered to be informative signals that may influence consumers and affect investors' decisions in the stock market. The effect of these signals can be measured by coinciding changes in the stock market or changes in the share prices of certain companies targeted in the President's Tweets. The Tweets used in this research include keywords that are related to finance and economics, public policy, political considerations, and targeted companies. Event study methodology is used to determine the relationship between Trump's Tweets' content and daily changes in major indexes and targeted companies' excess returns. Although many of the recent discussions have indicated that Trump's microblogging can affect the financial markets, the results, on average, show no significant effect of Trump's Tweets on either market indexes nor on most of the targeted companies share prices.
SSRN Electronic Journal
This article is an introduction to the Islamic perspectives with respect to conducting business a... more This article is an introduction to the Islamic perspectives with respect to conducting business activities without engaging in the utilization of the interest rate (Ribba) mechanism. Several examples of allowed mechanisms in Islam are presented (such as partnership, leasing and investment funds). The benefits to the society should be seen as a priority and the individual benefit should not contradict the society's benefit. Ethics and moral orientations in Islam are more important than creation of laws.
Ecos de Economía
En este trabajo se utiliza un modelo de vectores autorregresivos (VAR) para examinar la interrela... more En este trabajo se utiliza un modelo de vectores autorregresivos (VAR) para examinar la interrelación entre la entrada de flujos de inversión extranjera directa (EFIED), las exportaciones, el producto interno bruto (PIB), la tasa de desempleo (TD) y la tasa de participación laboral (TPL) en Puerto Rico. Los datos utilizados incluyen los años fisca- les de 1980 al 2010. Se encontraron cuatro vectores cointegrados en el sistema, que evidencian la existencia de una relación de largo plazo entre las variables. Los hallazgos sugieren que aumentos consecutivos en la EFIED podrían reducir significativamente la TD e incrementar el interés de los puertorriqueños por ingresar en la fuerza laboral. El mismo resultado se refleja con relación a los incrementos en el nivel de exportaciones. Las variaciones en el PIB se explican principalmente en el largo plazo por la TD.
International Journal of Accounting and Finance, 2022
Revista Finanzas y Política Económica, Jun 1, 2014
<p>Se discuten las implicaciones de la materialidad de la información financiera sobre &quo... more <p>Se discuten las implicaciones de la materialidad de la información financiera sobre "manejo de los ingresos". Implica la descripción y el análisis del contenido de la Codificación de Normas Contables™. Las perspectivas profesionales fueron utilizadas para confirmar la ausencia de directrices de importancia relativa en los Principios de Contabilidad Generalmente Aceptados (en inglés, PCGA) de los EE. UU. Los términos "materialidad", "significancia" e "importancia" fueron usados para determinar la inclusión de materialidad en las codificaciones. Las principales conclusiones indican que, primero, los factores determinantes y las motivaciones internas y externas influyen en las prácticas de "manejos de ganancias" y, segundo, los PCGA de EE. UU. no cuentan con directrices bien definidas para aplicar la materialidad en la toma de decisiones.</p>
Americas Conference on Information Systems, 2021
The widespread use of mobile technology has motivated Blockchain developers and users to embrace ... more The widespread use of mobile technology has motivated Blockchain developers and users to embrace and adopt mobile blockchain technologies. Enabling users to utilize mobile devices for accessing blockchain services and manage digital assets that offer numerous benefits. However, risks regarding the system use and users’ concerns about their information security and privacy also arise. This paper investigates how blockchain apps’ perceived security and privacy levels affect the ratings of the app on online platforms. A dataset of 146 mobile apps that use Blockchain technology was collected to conduct a sentiment analysis for user reviews. Our results demonstrated that the perceived concerns of information security and privacy positively are associated with negative ratings of apps. We also investigate these effects by differentiating the apps according to the risk level of the app and showed that the magnitude of the effect is greater for high-risk apps
In this study, we examine how the performance of companies using cryptocurrencies is affected by ... more In this study, we examine how the performance of companies using cryptocurrencies is affected by the major external events about cryptocurrencies. The subject of our study is the reactions of the stock market on the firm’s disclosure of events related to digital currencies. We identified firms that included the four major cryptocurrencies (Bitcoin, Ripple, Litecoin, and Ethereum) in their financial reports from the Edgar database. We identified major events related to cryptocurrencies and conducted an event study analysis to determine the effects of the events on stock market prices of the companies. Preliminary results indicate a significant effect of external events on firm performance. The extent of effects from regulatory and government-related events and external security breach events as well as industry-related events helps us understand the significance of the investors’ attention to any disclosures of cryptocurrency-related events
Editorial Área de Innovación y Desarrollo,S.L. Quedan todos los derechos reservados. Esta publica... more Editorial Área de Innovación y Desarrollo,S.L. Quedan todos los derechos reservados. Esta publicación no puede ser reproducida, distribuida, comunicada públicamente o utilizada, total o parcialmente, sin previa autorización.
3C Empresa Investigacion Y Pensamiento Critico, Dec 18, 2012
RESUMEN El objetivo de este artículo es explorar la percepción de los gerentes y directores de em... more RESUMEN El objetivo de este artículo es explorar la percepción de los gerentes y directores de empresas farmacéuticas sobre los factores relacionados al establecimiento de centros de R&D en Puerto Rico. Los datos fueron recopilados mediante un cuestionario distribuido a gerentes y directores de una empresa farmacéutica en la Isla. Los resultados indican que todas las aseveraciones relacionadas a la localidad de la Isla son importantes, y la localización geográfica se relaciona con el establecimiento de los centro de R&D.
SpringerBriefs in Economics, 2015
Employment is a key factor in the economic growth of countries. By this, a more equitable social ... more Employment is a key factor in the economic growth of countries. By this, a more equitable social development and more efficient production system are promoted. At present, global employment is affected by challenges generated by economic crisis of higher proportions and requirements of higher production efficiency in multinational enterprises, which are the main determinants of the globalized world.
3C Empresa Investigacion Y Pensamiento Critico, Feb 8, 2013
Análisis de las tendencias y los cambios de la inversión extranjera directa entre los años 1980 a... more Análisis de las tendencias y los cambios de la inversión extranjera directa entre los años 1980 al 2010 en la economía mundial. La inversión extranjera directa (IED) cuenta con cuatro componentes: la entrada de flujos de inversión extranjera directa (EFIED), la salida de flujos de inversión extranjera directa (SFIED), la entrada de acervos de inversión extranjera directa (EAIED) y la salida de acervos de inversión extranjera directa (SAIED). En el análisis se incluyen comparaciones entre los G8, los G20 y el resto del mundo. Entre los hallazgos principales se encontró que la entrada de flujos de inversión extranjera directa mundial y la salida de flujos de inversión extranjera directa mundial han registrado altas y bajas a través de las décadas. La participación proporcional de la mayoría de los países que componen el grupo de los G8 se ha ido reduciendo, mientras que la participación proporcional de algunos países en vías de desarrollo, pertenecientes al grupo de los G20, ha ido aumentando. A su vez, la entrada de acervos de inversión extranjera directa mundial y la salida de acervos de inversión extranjera directa mundial han registrado aumentos consecutivos a través de las décadas (United Nations, 2011, 2012).
In this study, we examine the adoption of Blockchain Technology (BC) by auditors as BC has the po... more In this study, we examine the adoption of Blockchain Technology (BC) by auditors as BC has the potentials to fundamentally change the auditing industry. We first examine auditors’ knowledge in accounting and auditing, their experience in using accounting software, and their general knowledge of BC. We suggest that these factors have a positive impact on BC adoption intention. We also examine auditors’ judgments regarding the sampling size of transactions considering the materiality concept. Lastly, we consider the roles of auditors’ degrees of professional skepticism (PS), defined in professional standards as having a questioning mind and critically assessing evidence. We suggest that both materiality and PS have a negative impact on BC adoption. A survey is conducted among internal and external auditors to collect empirical data to test our research model. The study recognizes some crucial factors that influence auditors’ adoption of BC, providing guidance for research and practice.
Journal of Information Systems
The increasing automation of accounting information makes it imperative for auditors to help orga... more The increasing automation of accounting information makes it imperative for auditors to help organizations design and implement blockchain-based solutions to facilitate transactions. A precursor of this initiative is their acceptance of blockchain. From the task–technology fit and fit-as-mediation perspective, this paper proposes that the technological features of blockchain must fit the task needs of auditors to boost acceptance. A survey of 112 auditors confirms that auditors’ task needs fully mediate the effect of blockchain features on acceptance. Not all blockchain features are equally important: While timestamping is most important for a shared database, the prevention of double-spending is most important for other task needs. It also finds that perceptions of blockchain features and task needs are influenced by auditors’ accounting knowledge and accounting software knowledge, as well as their technology awareness. This shows the importance of strengthening auditors’ knowledge...
Ecos De Economia Issn 1657 4206, Dec 1, 2012
En este trabajo se utiliza un modelo de vectores autorregresivos (vAR) para examinar la interrela... more En este trabajo se utiliza un modelo de vectores autorregresivos (vAR) para examinar la interrelación entre la entrada de flujos de inversión extranjera directa (EFIED), las exportaciones, el producto interno bruto (PIB), la tasa de desempleo (tD) y la tasa de participación laboral (TPL) en Puerto Rico. Los datos utilizados incluyen los años fiscales de 1980 al 2010. se encontraron cuatro vectores cointegrados en el sistema, que evidencian la existencia de una relación de largo plazo entre las variables. Los hallazgos sugieren que aumentos consecutivos en la EFIED podrían reducir significativamente la tD e incrementar el interés de los puertorriqueños por ingresar en la fuerza laboral. El mismo resultado se refleja con relación a los incrementos en el nivel de exportaciones. Las variaciones en el PIB se explican principalmente en el largo plazo por la tD.
This article presents the patent quality relation to firm performance for a sample from the US Bi... more This article presents the patent quality relation to firm performance for a sample from the US Biotechnology and Pharmaceutical Industry. Innovation value (INNV/PAT), innovation importance (INNV/PAT) and overall quality (q)are used as measurement of patent quality and book to market ratio (B/M), firm value (FV), and market capitalization (MCP) are used as measurements of performance. The sample consists of a yearly average of 600 companies, and 285, 000 patents from year 1999 up to 2009. The results show that total revenue is related to patenting and R&D intensity changes, but is not related to innovation value. B/M, FV and MCAP results suggest a possible 10% increase on innovation rates. MCAP andFV relate to innovation value with average growth of 10.3% for the whole sample. B/M relates to quality (q) with average growth of 2.5%. The 3800 SIC coded group results imply; MCAP, B/M, and FVrelate to quality (q) with average growth of 9.4%. These results imply that innovation outputs are perceived and valued differently by stakeholders, and markets. These effects suggest that the qualitative indexes are useful for understanding stock market activity and firm valuation for specific industrial sectors.
International Journal of Accounting and Finance
Fórum Empresarial, 2000
Present and evaluate the literature with respect to business service outsourcing (BSO, with a par... more Present and evaluate the literature with respect to business service outsourcing (BSO, with a particular concentration on a common form of BSO, information technology (IT). The review defines the issues with respect to BSO in terms of drivers and motivations, as well as internal and external implications for BSO companies and their contractors. BSO is an evolution of transaction cost theory and concentration on core business concepts. Although, there are several attempts to explain when a company should outsource, these theoretical frameworks are difficult to apply in practice since satisfaction is a function of expectation and the identification of activities are core commodity is not straightforward.
SSRN Electronic Journal
This article discusses the ways and methods of corporate valuations that include the discounted c... more This article discusses the ways and methods of corporate valuations that include the discounted cash flow models, the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Models (APM), Tobin's q, sales accelerator and cash flow models of investment, and economic base performance measures such as Economic Rent and Excess Market Value. It seems that more innovated methods to detect changes in companies' financial positions are needed. Also, managers' financial experiences are essential for companies to compete in a world with a constant change.
SSRN Electronic Journal, 2006
This article presents the views and assumptions of logical positivism approach and realistic appr... more This article presents the views and assumptions of logical positivism approach and realistic approach in conducting social science research in general and business research in particular. Logical positivism has influenced research methodologies in social science, in particular "model building". The main assumptions of logical positivism are concerned with observation and "verification principle". In the realistic approach of the social science philosophy, the conceptualization idea of theory plays a central role in social science research.
Journal of Accounting and Management Information Systems
Social media is becoming one of the main sources of unstructured data. Many financial analysts us... more Social media is becoming one of the main sources of unstructured data. Many financial analysts use Twitter to gather data and obtain meaningful insights. Recently, high-profile politicians like President Trump have been using Twitter to communicate with the public. The President's Tweets are used as considered to be informative signals that may influence consumers and affect investors' decisions in the stock market. The effect of these signals can be measured by coinciding changes in the stock market or changes in the share prices of certain companies targeted in the President's Tweets. The Tweets used in this research include keywords that are related to finance and economics, public policy, political considerations, and targeted companies. Event study methodology is used to determine the relationship between Trump's Tweets' content and daily changes in major indexes and targeted companies' excess returns. Although many of the recent discussions have indicated that Trump's microblogging can affect the financial markets, the results, on average, show no significant effect of Trump's Tweets on either market indexes nor on most of the targeted companies share prices.
SSRN Electronic Journal
This article is an introduction to the Islamic perspectives with respect to conducting business a... more This article is an introduction to the Islamic perspectives with respect to conducting business activities without engaging in the utilization of the interest rate (Ribba) mechanism. Several examples of allowed mechanisms in Islam are presented (such as partnership, leasing and investment funds). The benefits to the society should be seen as a priority and the individual benefit should not contradict the society's benefit. Ethics and moral orientations in Islam are more important than creation of laws.
Ecos de Economía
En este trabajo se utiliza un modelo de vectores autorregresivos (VAR) para examinar la interrela... more En este trabajo se utiliza un modelo de vectores autorregresivos (VAR) para examinar la interrelación entre la entrada de flujos de inversión extranjera directa (EFIED), las exportaciones, el producto interno bruto (PIB), la tasa de desempleo (TD) y la tasa de participación laboral (TPL) en Puerto Rico. Los datos utilizados incluyen los años fisca- les de 1980 al 2010. Se encontraron cuatro vectores cointegrados en el sistema, que evidencian la existencia de una relación de largo plazo entre las variables. Los hallazgos sugieren que aumentos consecutivos en la EFIED podrían reducir significativamente la TD e incrementar el interés de los puertorriqueños por ingresar en la fuerza laboral. El mismo resultado se refleja con relación a los incrementos en el nivel de exportaciones. Las variaciones en el PIB se explican principalmente en el largo plazo por la TD.