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Advances in Pacific Basin Business, Economics and Finance最新文献

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What Makes Listed Subsidiaries Delist in Japan? A Logistic Analysis 日本上市子公司为何要退市?逻辑分析
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007009
Naoyuki Kaneda
{"title":"What Makes Listed Subsidiaries Delist in Japan? A Logistic Analysis","authors":"Naoyuki Kaneda","doi":"10.1108/s2514-465020190000007009","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007009","url":null,"abstract":"We examine the driving factors behind the decisions of parent companies to delist their listed subsidiaries in Japan. We undertake a logistic regression analysis and find that higher leverage, lower capital expenditure to total assets, and lower return on assets are significantly related to the probability of delisting. The market-to-book ratio is not statistically significant in the logistic regression. We find no evidence that the parent company takes advantage of market mispricing. The parent company may intend to place the extra debt of highly levered subsidiaries on its own balance sheet to obtain a better term in its debt contract.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127630264","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: 3
The Impact of Corporate Social Responsibility on Financial Performance: Evidence from Commercial Banks in Mongolia 企业社会责任对财务绩效的影响:来自蒙古商业银行的证据
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007006
A. Ho, Hsin-Yu Liang, Tumenjargal Tumurbaatar
{"title":"The Impact of Corporate Social Responsibility on Financial Performance: Evidence from Commercial Banks in Mongolia","authors":"A. Ho, Hsin-Yu Liang, Tumenjargal Tumurbaatar","doi":"10.1108/s2514-465020190000007006","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007006","url":null,"abstract":"This is the first study to investigate the impact of corporate social responsibility (CSR) on corporate financial performance (CFP) in Mongolian banks. We hand-collect data to construct CSR disclosure index from 65 annual reports of 12 banks in Mongolia from 2003 to 2012. The results indicate that banks with larger size or Chief Executive Officer duality exhibit higher CSR performance. Moreover, banks with higher CSR performance tend to have higher net interest margin and lower non-performing loan. Furthermore, the CSR–CFP relationship varies before and after the financial crisis. The findings provide meaningful insight to the foreign investors regarding the effect of CSR on the profitability and credit risk in Mongolian banking sector.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130870039","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: 16
The Causal Factors behind Rising Non-performing Assets of India’s Commercial Banks: A Panel Study 印度商业银行不良资产上升的成因:一项面板研究
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007008
T. Jayaraman, Chin-Yu Lee, Cheong-Fatt Ng
{"title":"The Causal Factors behind Rising Non-performing Assets of India’s Commercial Banks: A Panel Study","authors":"T. Jayaraman, Chin-Yu Lee, Cheong-Fatt Ng","doi":"10.1108/s2514-465020190000007008","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007008","url":null,"abstract":"Poor performance of India’s commercial banks, in the public and private sectors as well as those owned by foreign interests, has been a major concern of the policymakers. Their gross non-performing assets (NPAs), as a proportion of gross advances, were 10.2% as of March 2017, which is reported to have grown to 11.6% in March 2018. The public sector banks (PSBs) have a share of 70% of business, and the ratio of NPAs to gross advances is 15.6%. The Reserve Bank of India’s forecast is that the ratio for PSBs would rise to 17.3% by March 2019, of private banks to 5.3%, and of foreign banks to 4.8%. This chapter focuses on causal factors which comprise macroeconomic as well as bank-specific factors, influencing NPA. We undertake a panel approach by using 16 annual observations (from fiscal year 2000–2001 to 2015–2016) for three groups of banks by ownership: public, private, and foreign. The study findings reveal that the macroeconomic and bank-specific factors are important determinants.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132320004","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: 4
Index 指数
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007013
{"title":"Index","authors":"","doi":"10.1108/s2514-465020190000007013","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007013","url":null,"abstract":"","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"282 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115902278","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
Do Unsolicited Bank Credit Ratings Matter to Bank Leverage Decision? Evidence from Asian Countries 主动提供的银行信用评级对银行杠杆决策有影响吗?来自亚洲国家的证据
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007011
Y. Hsiao, Lei Qin, Yueh-Lung Lin
{"title":"Do Unsolicited Bank Credit Ratings Matter to Bank Leverage Decision? Evidence from Asian Countries","authors":"Y. Hsiao, Lei Qin, Yueh-Lung Lin","doi":"10.1108/s2514-465020190000007011","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007011","url":null,"abstract":"This chapter differentiates the effect of solicited credit ratings (SCRs) and unsolicited credit ratings (UCRs) on bank leverage decision before and after the credit rating change. We find that banks with UCRs issue less debt relative to equity when the credit rating changes are approaching. Such findings are also prominent when bank credit rating moves from investment grade to speculative grade. After credit rating upgrades (downgrades), banks with unsolicited (solicited) credit ratings are inclined to issue more (less) debt relative to equity than those with solicited (unsolicited) credit ratings. We conclude that SCR and UCR changes lead to significantly different effects on bank leverage decision.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"409 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132067428","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
Not All Firm Entries Are Made Equal: An Exploratory Note 并非所有的公司条目都是平等的:探索性笔记
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007010
Chin‐Yoong Wong, Yoke‐Kee Eng
{"title":"Not All Firm Entries Are Made Equal: An Exploratory Note","authors":"Chin‐Yoong Wong, Yoke‐Kee Eng","doi":"10.1108/s2514-465020190000007010","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007010","url":null,"abstract":"This chapter makes two modest contributions by shedding light on the shock propagating role of endogenous firm entry in a more transparent way through the lens of frictionless, flexible-price real business cycle (RBC) model. We find that entry moderates rather than amplifies the shock, as production no longer occurs in a frictionless way but through business formation that consumes time and resources. We also resurrect the ability of the standard RBC model in resolving “productivity-hours worked puzzle” should credit barrier facing entry be formalized in the model.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130643150","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
Prelims 预备考试
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2019-08-21 DOI: 10.1108/s2514-465020190000007001
{"title":"Prelims","authors":"","doi":"10.1108/s2514-465020190000007001","DOIUrl":"https://doi.org/10.1108/s2514-465020190000007001","url":null,"abstract":"","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116260811","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
Index 指数
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2018-08-21 DOI: 10.1108/s2514-465020180000006012
{"title":"Index","authors":"","doi":"10.1108/s2514-465020180000006012","DOIUrl":"https://doi.org/10.1108/s2514-465020180000006012","url":null,"abstract":"","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124976405","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 Choice of Industrial Diversification Strategy for Public Listed Firms in the Hotel Industry 酒店业上市公司的产业多元化战略选择
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2018-08-21 DOI: 10.1108/S2514-465020180000006010
C. Ooi, C. Hooy, A. P. M. Som
{"title":"The Choice of Industrial Diversification Strategy for Public Listed Firms in the Hotel Industry","authors":"C. Ooi, C. Hooy, A. P. M. Som","doi":"10.1108/S2514-465020180000006010","DOIUrl":"https://doi.org/10.1108/S2514-465020180000006010","url":null,"abstract":"Abstract \u0000This study suggests two new diversification strategies, i.e., tourism-related and tourism-unrelated diversifications which are specifically applicable to the hotel firms. This study aims to investigate which diversification strategy has better benefits toward firm performance. This study includes a complete set of public listed firms of the hotel industry from four Asian countries, namely, Hong Kong, Singapore, China, and Malaysia, covering from years 2001 to 2012. Revealing the advantage and disadvantage of both diversification strategies, the empirical evidence regarding its influences on hotel firm performance are investigated in this study. This study finds a nonlinear relationship between degree of diversification and firm performance. Confronting with the volatile earnings when crises strike tourism sector, this study further shows how the crises affect the relationship between tourism-related/unrelated diversification strategy and hotel firm performance.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"20 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129028029","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
An Empirical Analysis of the Impact of Employment on the First Birth Decision for Married Women in Taiwan 台湾已婚妇女就业对第一胎决定影响之实证分析
Advances in Pacific Basin Business, Economics and Finance Pub Date : 2018-08-21 DOI: 10.1108/S2514-465020180000006008
Huoying Wu, H. Chuang
{"title":"An Empirical Analysis of the Impact of Employment on the First Birth Decision for Married Women in Taiwan","authors":"Huoying Wu, H. Chuang","doi":"10.1108/S2514-465020180000006008","DOIUrl":"https://doi.org/10.1108/S2514-465020180000006008","url":null,"abstract":"Abstract \u0000This study analyzes empirically the extent to which women’s employment affects the duration of first birth intervals among married women in Taiwan during the rapidly growing period. By employing the data from the 1989 Taiwan Women and Family Survey, our estimation results suggest that women’s employment strongly affects the duration of first birth intervals, and that various aspects of women’s employment affect first birth intervals differently. In terms of the number of working hours, women who work more than 30 hours per week tend to have an earlier first birth. On the other hand, work experience, as indicated by women’s labor force participation surrounding the first birth as well as their job tenure, is found to positively affect women’s first birth intervals. When the model is estimated on the basis of age cohorts, these implications remain the same. Given that the impact of labor market experiences and working hours act in opposite directions on the first birth interval, their effects may offset each other. Therefore, our findings provide an explanation to the earlier research result, which indicates that female employment is only weakly related to fertility behavior in Taiwan.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130051037","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
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