Asian Journal of Economics and Banking最新文献

{"title":"Corporate board characteristics and CSR budget of selected Bangladeshi banks: moderating role of corporate reputation","authors":"Md. Sajjad Hosain","doi":"10.1108/ajeb-08-2023-0083","DOIUrl":"https://doi.org/10.1108/ajeb-08-2023-0083","url":null,"abstract":"PurposeThis study explores the relationships between corporate board characteristics (CBCs) and corporate social responsibility budget (CSRB) of selected Bangladeshi banks. CSRB was regarded as the sole dependent variable. In contrast, CBCs was separated into three independent constructs: board members' age (BMA), board members’ educational level (BMEL) and the number of board meetings per year (NBMY). A single moderator, corporate reputation (CR), was used to assess the moderating impact on the direct relationships.Design/methodology/approachAnnual reports from 2017 to 2021 (5 years) of 25 selectively listed Bangladeshi banks were used as study samples. Further, the researcher conducted informal interviews with 251 board members of those selected banks using a semi-structured questionnaire. The study used “multiple regression analysis” to evaluate the moderating effects on the three direct relationships and “Pearson's correlation coefficient” to assess the immediate impacts.FindingsAfter analysis, the results revealed that all the three independent components, BMA, BMEL and NBMY, have substantial positive relationships with the dependent variable, CSRB. Moreover, it was identified that CR can moderate (strengthen) all the three direct relationships. Originality/valueCorporate governance (CG) and CSR are two hot topics both in academia and practice. This study highlighted the corporate board characteristics and CSR budget, two new dimensions of CG literature that are required to be paid more attention to. The researcher expects this study to enhance the literature focused on these newer dimensions of CG that might benefit both academics and practitioners.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"53 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141339427","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}

{"title":"Wholesale price forecasts of green grams using the neural network","authors":"Bingzi Jin, Xiaojie Xu","doi":"10.1108/ajeb-01-2024-0007","DOIUrl":"https://doi.org/10.1108/ajeb-01-2024-0007","url":null,"abstract":"PurposeAgriculture commodity price forecasts have long been important for a variety of market players. The study we conducted aims to address this difficulty by examining the weekly wholesale price index of green grams in the Chinese market. The index covers a ten-year period, from January 1, 2010, to January 3, 2020, and has significant economic implications.Design/methodology/approachIn order to address the nonlinear patterns present in the price time series, we investigate the nonlinear auto-regressive neural network as the forecast model. This modeling technique is able to combine a variety of basic nonlinear functions to approximate more complex nonlinear characteristics. Specifically, we examine prediction performance that corresponds to several configurations across data splitting ratios, hidden neuron and delay counts, and model estimation approaches.FindingsOur model turns out to be rather simple and yields forecasts with good stability and accuracy. Relative root mean square errors throughout training, validation and testing are specifically 4.34, 4.71 and 3.98%, respectively. The results of benchmark research show that the neural network produces statistically considerably better performance when compared to other machine learning models and classic time-series econometric methods.Originality/valueUtilizing our findings as independent technical price forecasts would be one use. Alternatively, policy research and fresh insights into price patterns might be achieved by combining them with other (basic) prediction outputs.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"9 21","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141098918","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}

{"title":"Banking sector and economic growth in the digital transformation era: insights from maximum likelihood and Bayesian structural equation modeling","authors":"Abdullah Murrar, Bara Asfour, Veronica Paz","doi":"10.1108/ajeb-12-2023-0122","DOIUrl":"https://doi.org/10.1108/ajeb-12-2023-0122","url":null,"abstract":"PurposeIn the digital era, the banking sector has transformed into a powerful intermediary, effectively connecting surplus and deficit units. This dynamic landscape empowers savers to secure their finances and generate returns, while simultaneously enabling businesses and individuals to access capital for investment and promoting economic growth. This study explores the relationships among banking development dimensions – represented by primary assets and liabilities, bank capital (core capital and required reserves) and economic growth as measured by components of gross domestic product (GDP).Design/methodology/approachThe study consolidated monthly balance sheets from digital banks over a 20-year period, resulting in an aggregate monthly balance sheet that reflects the financial position of all digital banks in the Palestinian economy. The research employs both maximum likelihood and Bayesian structural equation modeling to measure the causal pathways of the consolidated balance sheet with the individual components of GDP.FindingsThe results revealed that bank main assets (investments and loans) and liabilities (deposits) collectively explain for 97% of bank capital. Investments and loans demonstrate significant negative correlations with bank capital, while deposits exhibit a positive impact. This leads to a fundamental conclusion that a substantial proportion of retained earnings within the banking sector is reinvested, fueling expansion and growth. Additionally, the results showed a significant relationship between bank capital and various GDP components, including private consumption, gross investment and net exports (p = 0.000). However, while the relationship between bank capital and government spending was insignificant in the maximum likelihood estimation, Bayesian estimation revealed a slight yet positive impact of bank capital on government spending.Originality/valueThis research stands out due to its unique exploration of the intricate relationship between bank sector development dimensions, primary assets and liabilities and their impact on bank capital in the digital era. It offers fresh insights by dividing this connection into specific dimensions and constructs, utilizing a comprehensive two-decade dataset covering the digital banks records.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"114 26","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141126617","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}

{"title":"Confidence intervals for functions of signal-to-noise ratio with application to economics and finance","authors":"Warisa Thangjai, S. Niwitpong","doi":"10.1108/ajeb-12-2023-0129","DOIUrl":"https://doi.org/10.1108/ajeb-12-2023-0129","url":null,"abstract":"PurposeConfidence intervals play a crucial role in economics and finance, providing a credible range of values for an unknown parameter along with a corresponding level of certainty. Their applications encompass economic forecasting, market research, financial forecasting, econometric analysis, policy analysis, financial reporting, investment decision-making, credit risk assessment and consumer confidence surveys. Signal-to-noise ratio (SNR) finds applications in economics and finance across various domains such as economic forecasting, financial modeling, market analysis and risk assessment. A high SNR indicates a robust and dependable signal, simplifying the process of making well-informed decisions. On the other hand, a low SNR indicates a weak signal that could be obscured by noise, so decision-making procedures need to take this into serious consideration. This research focuses on the development of confidence intervals for functions derived from the SNR and explores their application in the fields of economics and finance.Design/methodology/approachThe construction of the confidence intervals involved the application of various methodologies. For the SNR, confidence intervals were formed using the generalized confidence interval (GCI), large sample and Bayesian approaches. The difference between SNRs was estimated through the GCI, large sample, method of variance estimates recovery (MOVER), parametric bootstrap and Bayesian approaches. Additionally, confidence intervals for the common SNR were constructed using the GCI, adjusted MOVER, computational and Bayesian approaches. The performance of these confidence intervals was assessed using coverage probability and average length, evaluated through Monte Carlo simulation.FindingsThe GCI approach demonstrated superior performance over other approaches in terms of both coverage probability and average length for the SNR and the difference between SNRs. Hence, employing the GCI approach is advised for constructing confidence intervals for these parameters. As for the common SNR, the Bayesian approach exhibited the shortest average length. Consequently, the Bayesian approach is recommended for constructing confidence intervals for the common SNR.Originality/valueThis research presents confidence intervals for functions of the SNR to assess SNR estimation in the fields of economics and finance.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"115 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140223594","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}

{"title":"A prelude to statistics in Wasserstein metric spaces","authors":"Chon Van Le, U. Pham","doi":"10.1108/ajeb-10-2023-0099","DOIUrl":"https://doi.org/10.1108/ajeb-10-2023-0099","url":null,"abstract":"PurposeThis paper aims mainly at introducing applied statisticians and econometricians to the current research methodology with non-Euclidean data sets. Specifically, it provides the basis and rationale for statistics in Wasserstein space, where the metric on probability measures is taken as a Wasserstein metric arising from optimal transport theory.Design/methodology/approachThe authors spell out the basis and rationale for using Wasserstein metrics on the data space of (random) probability measures.FindingsIn elaborating the new statistical analysis of non-Euclidean data sets, the paper illustrates the generalization of traditional aspects of statistical inference following Frechet's program.Originality/valueBesides the elaboration of research methodology for a new data analysis, the paper discusses the applications of Wasserstein metrics to the robustness of financial risk measures.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"23 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138995703","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}

{"title":"The a priori procedure (APP) for estimating median under skew normal settings with applications in economics and finance","authors":"Liqun Hu, Tonghui Wang, D. Trafimow, S. T. B. Choy, Xiangfei Chen, Cong Wang, Tingting Tong","doi":"10.1108/ajeb-09-2023-0087","DOIUrl":"https://doi.org/10.1108/ajeb-09-2023-0087","url":null,"abstract":"PurposeThe authors’ conclusions are based on mathematical derivations that are supported by computer simulations and three worked examples in applications of economics and finance. Finally, the authors provide a link to a computer program so that researchers can perform the analyses easily.Design/methodology/approachBased on a parameter estimation goal, the present work is concerned with determining the minimum sample size researchers should collect so their sample medians can be trusted as good estimates of corresponding population medians. The authors derive two solutions, using a normal approximation and an exact method.FindingsThe exact method provides more accurate answers than the normal approximation method. The authors show that the minimum sample size necessary for estimating the median using the exact method is substantially smaller than that using the normal approximation method. Therefore, researchers can use the exact method to enjoy a sample size savings.Originality/valueIn this paper, the a priori procedure is extended for estimating the population median under the skew normal settings. The mathematical derivation and with computer simulations of the exact method by using sample median to estimate the population median is new and a link to a free and user-friendly computer program is provided so researchers can make their own calculations.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"80 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138600312","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}

{"title":"How to select a model if we know probabilities with interval uncertainty?","authors":"Vladik Kreinovich","doi":"10.1108/ajeb-08-2023-0078","DOIUrl":"https://doi.org/10.1108/ajeb-08-2023-0078","url":null,"abstract":"Purpose When the probability of each model is known, a natural idea is to select the most probable model. However, in many practical situations, the exact values of these probabilities are not known; only the intervals that contain these values are known. In such situations, a natural idea is to select some probabilities from these intervals and to select a model with the largest selected probabilities. The purpose of this study is to decide how to most adequately select these probabilities. Design/methodology/approach It is desirable to have a probability-selection method that preserves independence. If, according to the probability intervals, the two events were independent, then the selection of probabilities within the intervals should preserve this independence. Findings The paper describes all techniques for decision making under interval uncertainty about probabilities that are consistent with independence. It is proved that these techniques form a 1-parametric family, a family that has already been successfully used in such decision problems. Originality/value This study provides a theoretical explanation of an empirically successful technique for decision-making under interval uncertainty about probabilities. This explanation is based on the natural idea that the method for selecting probabilities from the corresponding intervals should preserve independence.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":" 60","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135340893","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}

{"title":"Investigating “organizational maturity” in order to provide “blockchain banking service” based on “FinTech” (through “the CMMI” in “Parsian Bank”)","authors":"Komeil Ali Taghavi, Mohammadreza Mashayekh","doi":"10.1108/ajeb-03-2022-0037","DOIUrl":"https://doi.org/10.1108/ajeb-03-2022-0037","url":null,"abstract":"Purpose The description of “blockchain banking”, the determination of “the sub-processes” of “blockchain banking” as a “business process”, and the assessment of “maturity level” in Parsian Bank. Design/methodology/approach Theoretical sources on “blockchain banking” were initially investigated. Then the “sub-processes” of “blockchain banking” as a “business process” were extracted by Parsian Bank's experts through the “Delphi method”. Next, the “sequence” of the “sub-processes” was determined by means of the “AHP”. Eventually, Parsian Bank's maturity levels for all the sub-processes as well as the overall maturity level were specified on the basis of the “CMMI” V1.3 in order for Business Process Management (BPM). Findings Blockchain banking’ combines traditional banking with cryptocurrencies, which can be provided by merging “hybrid e-wallet” with “bank account” and “bank card” – all together as “crypto bank account”. Plus, “hybrid e-wallet” is a form of mobile e-wallet on blockchain that supports both cryptocurrencies and traditional currencies in the same platform by which the purchase and sale of cryptocurrencies are possible. Besides, “Blockchain banking service” can also be offered within the framework of “open banking” aligned with “open innovation” through a FinTech (or a beta bank) in collaboration with a licensed bank via “open API”, which is called “blockchain banking based on FinTech”. At last, the eight sub-processes of “blockchain banking” were determined and Parsian Bank's “maturity level” was specified. Originality/value This is the very first practical guide to “blockchain banking service”.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"18 1-2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136318500","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}

{"title":"Predicting Chinese stock prices using convertible bond: an evidence-based neural network approach","authors":"Paravee Maneejuk, Binxiong Zou, Woraphon Yamaka","doi":"10.1108/ajeb-08-2023-0080","DOIUrl":"https://doi.org/10.1108/ajeb-08-2023-0080","url":null,"abstract":"Purpose The primary objective of this study is to investigate whether the inclusion of convertible bond prices as important inputs into artificial neural networks can lead to improved accuracy in predicting Chinese stock prices. This novel approach aims to uncover the latent potential inherent in convertible bond dynamics, ultimately resulting in enhanced precision when forecasting stock prices. Design/methodology/approach The authors employed two machine learning models, namely the backpropagation neural network (BPNN) model and the extreme learning machine neural networks (ELMNN) model, on empirical Chinese financial time series data. Findings The results showed that the convertible bond price had a strong predictive power for low-market-value stocks but not for high-market-value stocks. The BPNN algorithm performed better than the ELMNN algorithm in predicting stock prices using the convertible bond price as an input indicator for low-market-value stocks. In contrast, ELMNN showed a significant decrease in prediction accuracy when the convertible bond price was added. Originality/value This study represents the initial endeavor to integrate convertible bond data into both the BPNN model and the ELMNN model for the purpose of predicting Chinese stock prices.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134886060","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}

{"title":"Bank capital, earnings smoothing and provisioning practices in Nigeria: IFRS and risk evidence","authors":"A. Salami, A. Uthman","doi":"10.1108/ajeb-05-2022-0058","DOIUrl":"https://doi.org/10.1108/ajeb-05-2022-0058","url":null,"abstract":"PurposeThis study empirically tests the use of loan loss provisions (LLPs) for earnings and capital smoothing when emphasis is laid on banks' riskiness and adoption of the International Financial Reporting Standards (IFRSs) in Nigeria.Design/methodology/approachAnnual bank-level data are hand-extracted between 2007 and 2017 from annual reports of a sample 16 deposit money banks (DMBs), and analysed using appropriate panel regression models subsequent to a number of diagnostic tests including heteroscedasticity, autocorrelation and cross-sectional dependence. The use of both reported LLPs (TLLP) and discretionary LLPs (DLLP) for earnings and capital management is tested to advance the practice in the literature.FindingsGenerally, the study finds that Nigerian DMBs manage capital via LLPs, while mixed results are obtained for earnings smoothing. However, during IFRS, Nigerian DMBs' management of capital is identifiable with TLLP, while smoothing of earnings is peculiar to DLLP. Additionally, evidence of the improvement in loan loss reporting quality expected during IFRS for riskier Nigerian DMBs, could not be attained. This is corroborated by the study's findings of the use of both TLLP and DLLP for earnings and capital management during IFRS by DMBs in solvency crisis against the only use of TLLP to manage capital found for the entire period.Practical implicationsThe evidential capital and earnings lopsidedness may subject Nigerian DMBs' going-concern to a lot of questions.Originality/valueThe study sets a foremost record in the empirical test of managerial opportunistic behaviour embedded in earnings and capital concurrently while accounting for loan losses by all categories of Nigerian DMBs in terms of riskiness, following accounting regime change.","PeriodicalId":34606,"journal":{"name":"Asian Journal of Economics and Banking","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46963484","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}