Emerging Markets: Finance eJournal最新文献_第2页

Organisational Structure and Performance of Nigerian REITs 尼日利亚房地产投资信托基金的组织结构和业绩

Emerging Markets: Finance eJournal Pub Date : 2021-08-13 DOI: 10.2139/ssrn.3904879

D. Dabara, O. Omotehinshe, J. Guyimu, O. Asa, Anthony Abbey Tinufa

引用次数: 0

Sovereign Wealth Funds’ Investment Purpose and the Investment Implications 主权财富基金的投资目的及其投资影响

Emerging Markets: Finance eJournal Pub Date : 2021-08-11 DOI: 10.2139/ssrn.3902962

Richard W. Carney

引用次数: 2

Merchant Banking in India 印度的商业银行

Emerging Markets: Finance eJournal Pub Date : 2021-08-10 DOI: 10.2139/ssrn.3902332

Ankur Tyagi

引用次数: 0

Natural Disasters and Creative Destruction: Evidence from the Universe of Firms in China 自然灾害与创造性破坏:来自中国企业宇宙的证据

Emerging Markets: Finance eJournal Pub Date : 2021-08-07 DOI: 10.2139/ssrn.3901022

Hua Cheng, Tse-Chun Lin

引用次数: 0

Naïve Earnings Growth Extrapolation Naïve盈利增长外推法

Emerging Markets: Finance eJournal Pub Date : 2021-08-02 DOI: 10.2139/ssrn.3897761

Chenyu Cui, F. Li, Xinyi Zhang

引用次数: 0

Green Bond, Renewable Energy Stocks and Carbon Price: Dynamic Connectedness, Hedging and Investment Strategies during COVID-19 pandemic 绿色债券、可再生能源股票和碳价:COVID-19大流行期间的动态联系、对冲和投资策略

Emerging Markets: Finance eJournal Pub Date : 2021-08-01 DOI: 10.2139/ssrn.3897284

A. Tiwari, Emmanuel Joel Aikins Abakah, David Gabauer, Richard Adjei Dwumfour

{"title":"Green Bond, Renewable Energy Stocks and Carbon Price: Dynamic Connectedness, Hedging and Investment Strategies during COVID-19 pandemic","authors":"A. Tiwari, Emmanuel Joel Aikins Abakah, David Gabauer, Richard Adjei Dwumfour","doi":"10.2139/ssrn.3897284","DOIUrl":"https://doi.org/10.2139/ssrn.3897284","url":null,"abstract":"This study has been inspired by the emergence of socially responsible investment practices in mainstream investment activity wherein it examines the transmission of return patterns between green bonds, carbon prices, and renewable energy stocks using daily data spanning from 1st January 2013 to 22nd September 2020. In this study, our dataset comprises the price indices of S&P Green Bond, Solactive Global Solar, Solactive Global Wind, S&P Global Clean Energy and Carbon. We employ the TVP-VAR approach to investigate the return spillovers and connectedness, and various portfolio techniques including minimum variance portfolio, minimum correlation portfolio and the recently developed minimum connectedness portfolio to test portfolio performance. Additionally, a LASSO dynamic connectedness model is used for robustness purposes. The empirical results from the TVP VAR indicate that the dynamic total connectedness across the assets is heterogeneous over time and economic event dependent. Moreover, our findings suggest clean energy dominates all other markets and is seen to be the main net transmitter of shocks in the entire network with Green Bonds and Solactive Global Wind emerging to be the major recipients of shocks in the system. Based on the hedging effectiveness, we show that bivariate and multivariate portfolios significantly reduce the risk of investing in a single asset except for Green Bonds. Finally, the minimum connectedness portfolio reaches the highest Sharpe ratio implying that information concerning the return transmission process is helpful for portfolio creation. The same pattern has been observed during the COVID-19 pandemic period.","PeriodicalId":153840,"journal":{"name":"Emerging Markets: Finance eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125984353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

An Empirical Study on Impact of Stock Split Announcement in the Indian Stock Market 股票分拆公告对印度股市影响的实证研究

Emerging Markets: Finance eJournal Pub Date : 2021-07-31 DOI: 10.2139/ssrn.3896945

Athulya Shaji Theckanathukaduppil

引用次数: 1

Financial Cooperatives and Commercial Banks Differences before and after the 2014–2016 Brazilian Economic Crisis 2014-2016年巴西经济危机前后金融合作社和商业银行的差异

Emerging Markets: Finance eJournal Pub Date : 2021-07-29 DOI: 10.2139/ssrn.3895987

Ederaldo Lima, A. Beiruth, Antonio Martinez

{"title":"Financial Cooperatives and Commercial Banks Differences before and after the 2014–2016 Brazilian Economic Crisis","authors":"Ederaldo Lima, A. Beiruth, Antonio Martinez","doi":"10.2139/ssrn.3895987","DOIUrl":"https://doi.org/10.2139/ssrn.3895987","url":null,"abstract":"The present research aims to evaluate the performance of cooperatives and commercial banks, emphasizing the before and after the Brazilian economic crisis of 2015 and 2016. The worsening of the fiscal and monetary situation led to the impeachment of the Brazilian President of the Republic on May 12, 2016, which generated even more uncertainty and instability in the financial market, creating an effect like a 2008 global financial crisis. In this context, the objective of this work is to evaluate changes in the performance of cooperatives and commercial banks and presenting the consequence of the Brazilian crisis to these financial institutions. The main scope of the study was how cooperatives and banks fared in the face of the situation, especially on the indicators of net loans and derivatives. The methodology will identify the difference between this type of institution using panel data methods with fixed and random effect models, tested using the Hausmann test to see which one best fits the data scenario. The results point out the worse performance of cooperatives than commercial banks in the crisis period of 2015/2016 and over 2011-2020. The cooperatives usually established to provide financial support to small businesses and farmers have suffered significantly more than commercial banks; nevertheless, all suffer.","PeriodicalId":153840,"journal":{"name":"Emerging Markets: Finance eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129954737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Financial Inclusion, Banking Stability, and Digital Technology Development in ASEAN 东盟普惠金融、银行业稳定与数字技术发展

Emerging Markets: Finance eJournal Pub Date : 2021-07-23 DOI: 10.2139/ssrn.3891317

Raisha Noor, V. Viverita, Z. Husodo

{"title":"Financial Inclusion, Banking Stability, and Digital Technology Development in ASEAN","authors":"Raisha Noor, V. Viverita, Z. Husodo","doi":"10.2139/ssrn.3891317","DOIUrl":"https://doi.org/10.2139/ssrn.3891317","url":null,"abstract":"The purpose of this study is to examine the effect of financial inclusion, supported by digital technology development on income inequality, poverty, and banking stability in ASEAN’s emerging countries. This study employs the Generalized Method of Moment (GMM) and Generalized Least Square (GLS) methodology, using annual data for ten years from 2007 to 2016. The empirical results support the argument. First, digital technology development (usage of the mobile phone) can improve financial inclusion because technology makes it easier to access financial services to people who are difficult to reach. Second, financial inclusion decreases income inequality, but it has no significant effect on reducing poverty. This finding indicates that formal financial services seem to be unable to reach the poor. Finally, the empirical results show that the increasing use of banking services through financial inclusion contributes positively to banking stability. Results of this study could encourage the presence of better policies to reform the financial sector by showing that the expansion in the use of financial services has a direct impact on financial/economic distribution. In addition, the paper provides implication for the banking regulator that the usage of banking and formal financial services still dominated by middle- and high-income society. Furthermore, the synergies between promoting financial inclusion and financial stability can also exist if using the right tools.","PeriodicalId":153840,"journal":{"name":"Emerging Markets: Finance eJournal","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129485209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Communication of Credit Rating Agencies and Financial Markets 信用评级机构与金融市场的沟通

Emerging Markets: Finance eJournal Pub Date : 2021-07-21 DOI: 10.2139/ssrn.3891158

Lorenzo Menna, Martin Tobal

引用次数: 0