IDEAS home Printed from https://ideas.repec.org/a/mgs/ijoied/v6y2020i2p19-24.html
   My bibliography  Save this article

Contemporary Data Science for Finance Students: A Comparative Study of Essential Features of Commonly Used Statistical Software

Author

Listed:
  • Madalina Viorica Manu

    (Bucharest University of Economic Studies, Romania)

  • Ilie Vasile

    (Bucharest University of Economic Studies, Romania)

Abstract

In this paper we compare some of the essential traits of the software preferred by researchers, students and professors, such as R or RStudio, or Matlab. In order to fill the gap in the Romanian literature and help finance students in choosing proper tools according to the research purpose, this comparative study aims at bringing a fresh, useful perspective in the relevant literature. In Romania, the use of R was the focus of several international conferences on official statistics held in Bucharest, and others having business excellence, innovation and sustainability as purpose, while Eviews is recommended and taught by the Romanian professors. In this time, at global scale, R programming language is considered the lingua franca of data science, as common statistical software used both in corporations and academia. In this paper, I analyze basic features of such software, with the purpose of application in finance.

Suggested Citation

  • Madalina Viorica Manu & Ilie Vasile, 2020. "Contemporary Data Science for Finance Students: A Comparative Study of Essential Features of Commonly Used Statistical Software," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 6(2), pages 19-24, June.
    • Handle: RePEc:mgs:ijoied:v:6:y:2020:i:2:p:19-24
    as

    Download full text from publisher

    File URL: https://researchleap.com/wp-content/uploads/2020/06/02.Contemporary-Data-Science-for-Finance-Students.pdf
    Download Restriction: no
    File URL: https://researchleap.com/contemporary-data-science-finance-students-comparative-study-essential-features-commonly-used-statistical-software/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:cup:cbooks:9781107034662 is not listed on IDEAS
    2. Tomas Rudys, 2016. "Use Of R in Statistics Lithuania," Romanian Statistical Review, Romanian Statistical Review, vol. 64(2), pages 119-124, June.
    3. Brooks,Chris, 2014. "Introductory Econometrics for Finance," Cambridge Books, Cambridge University Press, number 9781107661455, December.
    4. Jo Anne Shatkin, 2016. "Introduction to Special Series," Risk Analysis, John Wiley & Sons, vol. 36(8), pages 1518-1519, August.
    5. Food and Agricultural Organization [FAO], 2016. "An Introduction to the Basic Concepts of Food Security," Working Papers id:11217, eSocialSciences.
    6. ., 2016. "Introduction to development in China, India, and Japan," Chapters, in: Economic Reform in Asia, chapter 1, pages 1-29, Edward Elgar Publishing.
    7. Mãdãlina Viorica ION (MANU) & Ilie VASILE, 2019. "Contemporary Data Science For Finance Students. Essential Features Of Commonly Used Statistical Software - A Comparative Study," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(2), pages 14-20, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mãdãlina Viorica ION (MANU) & Ilie VASILE, 2019. "Contemporary Data Science For Finance Students. Essential Features Of Commonly Used Statistical Software - A Comparative Study," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(2), pages 14-20, June.
    2. Olusola Gbenga Olufemi & Trudie Strydom, 2018. "Churn Forecasting Model for South African Pre-Paid Service Providers," Proceedings of the 7th International RAIS Conference, February 19-20, 2018 004, Research Association for Interdisciplinary Studies.
    3. Manu Viorica Madalina, 2021. "Sailing in the Storm in 2020, The Business to Consumer Case," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 7(2), pages 20-27, January.
    4. Heidari , Hassan & Refah-Kahriz, Arash & Hashemi Berenjabadi, Nayyer, 2018. "Dynamic Relationship between Macroeconomic Variables and Stock Return Volatility in Tehran Stock Exchange: Multivariate MS ARMA GARCH Approach," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 5(2), pages 223-250, August.
    5. Daniya Tlegenova, 2015. "Forecasting Exchange Rates Using Time Series Analysis: The sample of the currency of Kazakhstan," Papers 1508.07534, arXiv.org.
    6. Mădălina Viorica MANU & Ilie VASILE, 2019. "Challenging the status quo: Steel producer case study on the enterprise value for M&A," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(620), A), pages 99-114, Autumn.
    7. Pierre J. Venter & Eben Maré, 2020. "GARCH Generated Volatility Indices of Bitcoin and CRIX," JRFM, MDPI, vol. 13(6), pages 1-15, June.
    8. Karthigai Prakasam Chellaswamy & Natchimuthu N & Muhammadriyaj Faniband, 2020. "Stock Market Sensitivity to Macroeconomic Factors: Evidence from China and India," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(2), pages 146-159, February.
    9. Viktor Stojkoski & Zoran Utkovski & Ljupco Kocarev, 2016. "The Impact of Services on Economic Complexity: Service Sophistication as Route for Economic Growth," PLOS ONE, Public Library of Science, vol. 11(8), pages 1-29, August.
    10. Marwil J. Dávila-Fernández, 2018. "Alternative Approaches to Technological Change when Growth is BoPC," Department of Economics University of Siena 795, Department of Economics, University of Siena.
    11. Suripto & Supriyanto, 2021. "The Effect of the COVID-19 Pandemic on Stock Prices with the Event Window Approach: A Case Study of State Gas Companies, in the Energy Sector," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 155-162.
    12. Chama Chipeta, 2022. "Analysing The Employment Effects Of The Exchange Rate, Foreign Direct Investment And Trade Openness On South Africa’S Non-Tradable Sectors," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
    13. Ahmed, Walid M.A., 2021. "Stock market reactions to upside and downside volatility of Bitcoin: A quantile analysis," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    14. Sunil K. Mohanty & Roar Aadland & Sjur Westgaard & Stein Frydenberg & Hilde Lillienskiold & Cecilie Kristensen, 2021. "Modelling Stock Returns and Risk Management in the Shipping Industry," JRFM, MDPI, vol. 14(4), pages 1-25, April.
    15. Viorica CHIRILA & Ciprian CHIRILA, 2018. "Effects of US Monetary Policy on Eastern European Financial Markets," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10(2), pages 149-166, August.
    16. Hayelom Abrha Meressa, 2020. "Growth of micro and small scale enterprises and its driving factors: empirical evidence from entrepreneurs in emerging region of Ethiopia," Journal of Innovation and Entrepreneurship, Springer, vol. 9(1), pages 1-22, December.
    17. Razmi, Fatemeh & Azali, M. & Chin, Lee & Shah Habibullah, Muzafar, 2016. "The role of monetary transmission channels in transmitting oil price shocks to prices in ASEAN-4 countries during pre- and post-global financial crisis," Energy, Elsevier, vol. 101(C), pages 581-591.
    18. Mowshumi Sharmin & Mohammad Tareque, 2018. "Econometric Analysis of the Effect of Economic Globalization, Energy Intensity, Urbanization, Industrialization and Growth on CO2 Emissions of Bangladesh," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 16(4 (Winter), pages 335-354.
    19. Victoria Bogdan & Claudia Diana Sabău-Popa & Marcel-Ioan Boloș & Dorina-Nicoleta Popa & Mărioara Beleneși, 2022. "Tracking Waste Management Information Disclosure Behavior Connected to Financial Performance through Moderating Variables," IJERPH, MDPI, vol. 19(20), pages 1-25, October.
    20. Asima Siddique & Omar Masood & Kiran Javaria & Dinh Tran Ngoc Huy, 2020. "A comparative study of performance of commercial banks in ASIAN developing and developed countries," Post-Print hal-02919632, HAL.

    More about this item

    Keywords

    Poftware; Programming language; R; RStudio; Statistics;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mgs:ijoied:v:6:y:2020:i:2:p:19-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bojan Obrenovic (email available below). General contact details of provider: https://researchleap.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.