Journal of Applied Finance & Banking最新文献_第8页

Analysis on the Next Generation of Artificial Intelligence Development Plan and Digital Financial Inclusion: Evidence from China 新一代人工智能发展规划与数字普惠金融分析:来自中国的证据

Journal of Applied Finance & Banking Pub Date : 2022-07-01 DOI: 10.47260/jafb/1261

Aili Zhang, Xinyu Sun

{"title":"Analysis on the Next Generation of Artificial Intelligence Development Plan and Digital Financial Inclusion: Evidence from China","authors":"Aili Zhang, Xinyu Sun","doi":"10.47260/jafb/1261","DOIUrl":"https://doi.org/10.47260/jafb/1261","url":null,"abstract":"Abstract\u0000\u0000In 2017, the State Council of China released the Next Generation Artificial Intelligence Development Plan in order to seize the opportunity to develop artificial intelligence. Based on a panel dataset from 31 regions in China from 2014-2019, this study utilizes a difference-in-difference model to examine the impact of the release of the Next Generation of Artificial Intelligence Development Plan on the development of digital financial inclusion, and then utilizes a spatial difference-in-difference model to examine the spatial spillover effect of the release of the plan. In this study, results demonstrate that the release of the Next Generation of Artificial Intelligence Development Plan had a significant impact on the promotion of the development of digital financial inclusion, as indicated predominantly by the depth of its use and digitalization. Additionally, the spatial difference-in-difference analysis shows that the impact of this plan has a significant spatial spillover effect, which promotes the development of digital financial inclusion in the region, as well as increases the level of digital financial inclusion in the surrounding areas. The development of digital financial inclusion has been accompanied by a spatial agglomeration.\u0000\u0000JEL classification numbers: O25, O33, R58.\u0000Keywords: Artificial Intelligence, Digital Financial Inclusion, Difference-in-Difference Model, Spatial Difference-in-Difference Model, Spatial Spillover Effect.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134473872","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

International Fund Allocation under Economic Policy Uncertainty Shock 经济政策不确定性冲击下的国际基金配置

Journal of Applied Finance & Banking Pub Date : 2022-06-22 DOI: 10.47260/jafb/1255

Jing-Yi Hou, Daoguo Wang

引用次数: 0

The Effects of Ownership Structure on Bank Efficiency for Taiwan: Is there a Non-Linear Relationship? 股权结构对台湾银行效率的影响:是否存在非线性关系?

Journal of Applied Finance & Banking Pub Date : 2022-06-14 DOI: 10.47260/jafb/1254

C. Liao, Xinyan Li

引用次数: 0

Pricing Rent-to-Own Options with a Barrier Level: Taking Housing Contracts as an Example 障碍水平下租售自拥有期权定价——以住房合同为例

Journal of Applied Finance & Banking Pub Date : 2022-06-07 DOI: 10.47260/jafb/1253

Yi-Long Hsiao, C. Ting

引用次数: 0

Predicting Bitcoin Prices via Machine Learning and Time Series Models 通过机器学习和时间序列模型预测比特币价格

Journal of Applied Finance & Banking Pub Date : 2022-06-06 DOI: 10.47260/jafb/1252

{"title":"Predicting Bitcoin Prices via Machine Learning and Time Series Models","authors":"","doi":"10.47260/jafb/1252","DOIUrl":"https://doi.org/10.47260/jafb/1252","url":null,"abstract":"Abstract\u0000\u0000In this study, we predict Bitcoin price trends using the back propagation neural network (BPNN), autoregressive integrated moving average (ARIMA), and generalized autoregressive conditional heteroscedasticity (GARCH) models. Based on principal component analysis (PCA), we extract two new input components for BPNN from Bitcoin’s three-day closing prices, MA5, MA20, daily trading volume, Ether price, and Ripple price. The training set covers the period between September 1, 2015 and March 31, 2020, and the forecasting set covers the period between April 1, 2020 and June 30, 2020. Empirical results reveal (1) the predictive ability of BPNN over that of the ARIMA models; (2) BPNN with two hidden layers is able to predict price trends more precisely than that with only one hidden layer; (3) in terms of time series models, the ARIMA-GARCH family of models demonstrates better predictive performance than ARIMA models; and (4) among the ARIMAGARCH family of models, the ARIMA-EGARCH model is proven to produce the best predictive results on price, and the ARIMA-GARCH model predicts more accurately than the ARIMA-GJR-GARCH model. Specifically, our findings provide a reference on Bitcoin for market participants.\u0000\u0000JEL classification numbers: C32, C45, C53, G17.\u0000Keywords: Bitcoin, Back propagation neural network, Autoregressive integrated moving average, Generalized autoregressive conditional heteroscedasticity, Principal component analysis.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133764618","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

Corporate Governance and Financial Crisis - A Empirical Study of Taiwanese Listed Companies 公司治理与金融危机——台湾上市公司的实证研究

Journal of Applied Finance & Banking Pub Date : 2022-05-04 DOI: 10.47260/jafb/1251

Cheng-An Shen, Hsiu-Fang Wang, H. Chiang

{"title":"Corporate Governance and Financial Crisis - A Empirical Study of Taiwanese Listed Companies","authors":"Cheng-An Shen, Hsiu-Fang Wang, H. Chiang","doi":"10.47260/jafb/1251","DOIUrl":"https://doi.org/10.47260/jafb/1251","url":null,"abstract":"Abstract\u0000\u0000This study mainly examines the association between corporate governance and\u0000financial crises of firms cross-listed in Taiwan. Using Logistic regression analysis,\u0000it takes Taiwan listed companies and the firms cross-listed in Taiwan from 2009 to\u00002019 as the research objects, to discuss corporate governance and corporate\u0000financial crisis and predict the possibility of the company’s future financial crisis.\u0000The empirical results reveal that the corporate governance mechanism of the firms\u0000cross-listed in Taiwan had no significant correlation between the change of financial\u0000controller and the future financial crisis of accounting firm and the possibility, while\u0000the number of internal audit changes, the shareholding ratio of major shareholders,\u0000and the size of the company were positively correlated with the possibility of future\u0000financial crisis. The results of this audit confirm that the corporate governance\u0000mechanism of the first listed company has an important influence on the\u0000management and the operating performance of the company. It may also serve as a\u0000basis for external investors and the government to judge the financial soundness of\u0000the first listed company.\u0000\u0000JEL classification numbers: G32.\u0000Keywords: Corporate governance, Financial crisis, Majority shareholding.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116974911","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

Application of the Real-Time Tourism Data in Nowcasting the Service Consumption in Taiwan 实时旅游数据在台湾服务消费临近预报中的应用

Journal of Applied Finance & Banking Pub Date : 2022-04-11 DOI: 10.47260/jafb/1244

C. Ting, Yi-Long Hsiao, Rui Su

{"title":"Application of the Real-Time Tourism Data in Nowcasting the Service Consumption in Taiwan","authors":"C. Ting, Yi-Long Hsiao, Rui Su","doi":"10.47260/jafb/1244","DOIUrl":"https://doi.org/10.47260/jafb/1244","url":null,"abstract":"Abstract In this paper, we examined the relationship between tourism and service consumption in Taiwan. The service consumption in Taiwan is nowcasted with the real-time tourism data in Google Trends database. We used the high-frequency internet-searching tourism data to predict the low-frequency service consumption data, for the real-time data with rich information could enhance prediction accuracy. Applying the Principal Components Analysis (PCA), we used the internet-searching tourism keywords in Google Trends database to construct the diffusion indices. Following the classification of the tourism keywords in Matsumoto et al. (2013), we classified those keywords into five groups and twenty-nine classifications. We focused on the reciprocal reactions between those diffusion indices with service consumption to conclude which component has higher influence on service consumption in Taiwan. Our empirical results indicated that the keywords in “Recreational areas, and Travel-related” group have significant effects on service consumption in Taiwan via nowcasting. Among the components of those diffusion indices, “Farm, Travel insurance, and Visitor center” are important variables with higher weights in common. JEL classification numbers: C60, C80, E01, E2, E60. Keywords: Nowcasting, the Principal Components Analysis (PCA), Service Consumption, Tourism.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"94 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120885313","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

Corporate Social Responsibility and Value of Cash Holdings in Taiwan: The Role of Family Firms 台湾企业社会责任与现金持有价值:家族企业的角色

Journal of Applied Finance & Banking Pub Date : 2022-04-07 DOI: 10.47260/jafb/1243

Min-lee Chan, Cho-Min Lin, Huan You

{"title":"Corporate Social Responsibility and Value of Cash Holdings in Taiwan: The Role of Family Firms","authors":"Min-lee Chan, Cho-Min Lin, Huan You","doi":"10.47260/jafb/1243","DOIUrl":"https://doi.org/10.47260/jafb/1243","url":null,"abstract":"Abstract\u0000\u0000This paper is to shed light on the relationship between corporate social responsibility (CSR) and cash value at family businesses using 3630 firm-year observations representing 395 listed Taiwanese companies. The results indicate that CSR has a significantly positive impact on cash value at family businesses, but no apparent relationship is supported at non-family businesses. Regarding the CSR activities, environmental protection, corporate commitment and corporate governance are consistently and significantly confirm the positive effects on corporate cash value at the family business, but social participation does not confirm this finding. The above results imply that conflict resolution view/or socio-emotional wealth view is evidenced at the relationship between family firm’s CSR and cash value. To the best of our knowledge, our results are firstly documented on the relationship between cash value and CSR of family business and thus make major contributions to related literature of family business.\u0000\u0000JEL classification numbers: G32, G34, M14.\u0000Keywords: Family Business, Corporate Social Responsibility, Cash Value.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134294622","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

How Does International Crude Price Affect China’s Carbon Emission? 国际原油价格如何影响中国的碳排放?

Journal of Applied Finance & Banking Pub Date : 2022-04-01 DOI: 10.47260/jafb/1242

Qiaoling Chen

引用次数: 0

Mutual Causal Effects Between Bank Stability and Profitability in SSA Banking System SSA银行体系中银行稳定性与盈利能力的相互因果效应

Journal of Applied Finance & Banking Pub Date : 2022-03-28 DOI: 10.47260/jafb/1241

Changjun Zheng, Sinamenye Jean-Petit

{"title":"Mutual Causal Effects Between Bank Stability and Profitability in SSA Banking System","authors":"Changjun Zheng, Sinamenye Jean-Petit","doi":"10.47260/jafb/1241","DOIUrl":"https://doi.org/10.47260/jafb/1241","url":null,"abstract":"Abstract\u0000\u0000This paper intends to assess the interaction between stability factors and profitability\u0000proxies with macroeconomic factors as controllable variables. The analysis used\u0000bank risk metrics (LLRs, Credit Growth, and NPLs) and bank performance proxies\u0000(NIM, ROE, and ROA) with a dataset from 40 countries with 350 active commercial\u0000banks. The study uses Autoregressive Distributed Lags estimation with Dynamic\u0000Fixed Effect method (ARDL-DFE) to assess both short and long-run interaction\u0000effects. The analysis finds that both are interesting for a better sustainable banking\u0000system: the results evidenced a causal interdependence effect between bank\u0000profitability ratios and bank stability proxies. Furthermore, three causality tests and\u0000cointegration analyses were significant enough, which allowed us to conclude that\u0000caring for bank risk is caring for bank performance. This study recommends\u0000regulators (central banks and the Basel Committee) to enforce the bank profitability\u0000to mitigate related bank risks. The study also suggests (especially Basel Committee)\u0000a regulator tool called Bank Performance/Profit Requirement Ratio (BPRR).\u0000\u0000JEL classification numbers: P430, G4, E510.\u0000Keywords: Bank, Risk, Performance, Stability, Profitability, Interdependence,\u0000DFE, SSA, Africa.","PeriodicalId":330012,"journal":{"name":"Journal of Applied Finance & Banking","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115039069","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: 2

Journal of Applied Finance &amp; Banking最新文献

Journal of Applied Finance & Banking最新文献