Journal of Financial Markets and Governance最新文献

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The impacts of IPO financing and monetary policy on economic growth in Bangladesh: Evidence from a dynamic assessment 孟加拉国IPO融资和货币政策对经济增长的影响:来自动态评估的证据
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112091639050124
S. Barua, M. Akter
{"title":"The impacts of IPO financing and monetary policy on economic growth in Bangladesh: Evidence from a dynamic assessment","authors":"S. Barua, M. Akter","doi":"10.54728/2112091639050124","DOIUrl":"https://doi.org/10.54728/2112091639050124","url":null,"abstract":"Bangladesh is considered a fast-growing emerging economy and the new Asian tiger. The increasing need for capital funds in Bangladesh is largely met by banks, mainly due to the country’s underdeveloped nature of the stock market. Bank financing is assumed to be influenced by monetary policies, particularly, by bank rates adopted each year by the central bank of Bangladesh. On the other hand, while some studies stress the need for strengthening the debt and equity securities markets to support Bangladesh’s fast economic growth, debates swirl about whether or to what extent the stock market contributes to economic growth in the country. To address the understanding gap, in this paper, we examine the impact of capital financing through equity initial public offerings (IPO) and bank rate on the economic growth of Bangladesh. We use annual data from 1981 to 2019 and employ an autoregressive distributive lag (ARDL) framework to examine the long-run and short-run impacts of IPO financing and bank rate on GDP growth rate. Our findings suggest the existence of a long-run cointegrating relationship between IPO financing, bank rate, and GDP growth. We find that IPO financing does not have a significant long-run impact but shows only a one-period short-run positive impact on economic growth. On the other hand, bank rate shows a long-run negative and a one-period short-run positive impact on economic growth. Findings overall suggest that IPO financing does not significantly contribute to long-run economic growth while giving only a temporary boost. Further, increases in bank rate - as one would expect - depress economic growth in the long-run, while generating herd behavior immediately. Our findings stress the need for encouraging more quality IPO issuances, increasing the issuance size, and ensuring proper utilization of the funds by IPO issuers to make the capital market a key driver of economic growth.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131567024","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
Empowering Small Businesses with Financial Technology: The Road Less Travelled 用金融技术赋予小企业权力:少有人走过的路
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112211640063460
Roksana Akter, Adrita Priyodarshini, S. Barua
{"title":"Empowering Small Businesses with Financial Technology: The Road Less Travelled","authors":"Roksana Akter, Adrita Priyodarshini, S. Barua","doi":"10.54728/2112211640063460","DOIUrl":"https://doi.org/10.54728/2112211640063460","url":null,"abstract":"Financial services remain untapped by most of the small business owners in Bangladesh. This limited access to mobile financial services and FinTech presents a business opportunity for the FinTech startups in the market. TallyKhata and Upayare digital financial services platforms visualizing to capture the untapped sector by becoming one of the first movers in the industry. This article has studied the cases of TallyKhata and Upay in empowering small businesses in Bangladesh through the services that have made business transactions and credit management hassle-free.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"32 13","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131839585","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
The Linkage between Chittagong Stock Market and Dhaka Stock Market 吉大港股市与达卡股市的联动
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112091639050770
Muhammad Shahidullah Tasfiq, N. Jahan
{"title":"The Linkage between Chittagong Stock Market and Dhaka Stock Market","authors":"Muhammad Shahidullah Tasfiq, N. Jahan","doi":"10.54728/2112091639050770","DOIUrl":"https://doi.org/10.54728/2112091639050770","url":null,"abstract":"This paper aims at determining the relationship between the two domestic stock markets of Bangladesh – the Chittagong Stock Market (CSE) and the Dhaka Stock Market (DSE). The daily stock price indices that represent the performance of the two stock markets are collected. In order to find out the interdependent relationship, the Engle-Granger Cointegration test, Granger Causality test, Impulse Response Function, and Variance Decomposition Analysis are employed in this paper. The main finding of this study is that both the stock markets are related in the long run. However, there is a one-way short-run effect from the DSE on the CSE market. The CSE market quickly responds to the shock in the DSE market. But, the DSE market is not responsive to the CSE market. The variance decomposition analysis shows that most of the shocks in the CSE market are explained by its own market. On the other hand, a small number of shocks in the DSE market are explained by the CSE market as well as its own market.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116934188","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
Governance of Mutual Fund Industry - The Lifeline of Stock/Capital Market 共同基金业的管治-股票/资本市场的生命线
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112211640063546
Mir Ariful Islam
{"title":"Governance of Mutual Fund Industry - The Lifeline of Stock/Capital Market","authors":"Mir Ariful Islam","doi":"10.54728/2112211640063546","DOIUrl":"https://doi.org/10.54728/2112211640063546","url":null,"abstract":"","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128007058","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
Impact of Dividend Policy on Stock Price Volatility: An Empirical Study on Financial Service Industry of Bangladesh 股利政策对股价波动的影响——基于孟加拉金融服务业的实证研究
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112091639050253
Sagira Sultana Provaty, Khairul Alam Siddique
{"title":"Impact of Dividend Policy on Stock Price Volatility: An Empirical Study on Financial Service Industry of Bangladesh","authors":"Sagira Sultana Provaty, Khairul Alam Siddique","doi":"10.54728/2112091639050253","DOIUrl":"https://doi.org/10.54728/2112091639050253","url":null,"abstract":"The impact of dividend policy on stock price volatility is one of the most researched topics of corporate finance. This study investigates the relationship between stock price volatility and dividend policy among Bangladeshi financial service industry companies. Two key variables - dividend yield and dividend payout have been taken as the independent variables after controlling for firm size, asset growth, earnings volatility, long-term debt, and earnings per share. The stock price volatility has been taken as the dependent variable. Panel regression analysis is employed to explore the relationship of dependent with independent variables. Results reveal a significant positive relationship between stock price volatility and dividend yield among companies considered in this study. This study will help regulators and investors understand how the stock price fluctuates in response to financial information such as dividend announcements.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130132108","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: 1
The impacts of IPO financing and monetary policy on economic growth in Bangladesh: Evidence from a dynamic assessment 孟加拉国IPO融资和货币政策对经济增长的影响:来自动态评估的证据
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/bj1a2
Sagira Sultana Provaty
{"title":"The impacts of IPO financing and monetary policy on economic growth in Bangladesh: Evidence from a dynamic assessment","authors":"Sagira Sultana Provaty","doi":"10.54728/bj1a2","DOIUrl":"https://doi.org/10.54728/bj1a2","url":null,"abstract":"The impact of dividend policy on stock price volatility is one of the most researched topics of corporate finance. This study investigates the relationship between stock price volatility and dividend policy among Bangladeshi financial service industry companies. Two key variables - dividend yield and dividend payout have been taken as the independent variables after controlling for firm size, asset growth, earnings volatility, long-term debt, and earnings per share. The stock price volatility has been taken as the dependent variable. Panel regression analysis is employed to explore the relationship of dependent with independent variables. Results reveal a significant positive relationship between stock price volatility and dividend yield among companies considered in this study. This study will help regulators and investors understand how the stock price fluctuates in response to financial information such as dividend announcements","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127782224","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
The Causal Relation between Revenue and Expenditure of Bangladesh 孟加拉国收入与支出的因果关系
Journal of Financial Markets and Governance Pub Date : 2021-12-28 DOI: 10.54728/2112091639050677
Jafrul Shahriar
{"title":"The Causal Relation between Revenue and Expenditure of Bangladesh","authors":"Jafrul Shahriar","doi":"10.54728/2112091639050677","DOIUrl":"https://doi.org/10.54728/2112091639050677","url":null,"abstract":"Bangladesh is a developing country that has been experiencing budget deficits since its independence in 1971. It means the government spending has been exceeding the government revenue. This phenomenon calls for a study of government spending or expenditure and government revenue. This study tries to establish a causal relation between expenditure and revenue of governments of Bangladesh. To accomplish this, this study uses the Vector Autoregressive (VAR) model and the Granger Causality model on the data for the financial year from 1993-1994 to 2017-2018. The study reveals that in the context of Bangladesh, total revenue affects total expenditure, whereas total expenditure does not affect total revenue.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130869328","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
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