Finance & Economics Review最新文献

{"title":"Drivers of Financial Inclusion among Cocoa Producers in the Southwest Region of Cameroon","authors":"Norbert N. Ngwang, M. Bime","doi":"10.38157/fer.v5i1.525","DOIUrl":"https://doi.org/10.38157/fer.v5i1.525","url":null,"abstract":"Purpose: Financial inclusion can considerably promote cocoa production and provide a buffer for the escape from poverty traps for cocoa-growing economies like Cameroon. However, the Southwest region of Cameroon still experiences a low level of cocoa production and poverty primarily due to financial exclusion. This article explores the drivers of financial inclusion in the region. \u0000Method: A stratified multistage sampling technique was used to survey 380 cocoa producers in the main cocoa-producing areas in the region through semi-structured questionnaires. Descriptive statistics were used to analyze the socio-economic variables and the probit model to analyze the drivers of financial inclusion, subject to the three major dimensions of financial inclusion; access to, use, and quality of financial services.\u0000Results: On average, the long distance of financial institutions (9.3 km), intermediate farm sizes (2.6 ha), and low annual income (1,125,863 FCFA) negatively influenced financial inclusion resulting in just 16.6% of farmers being financially included. The findings also revealed that financial inclusion is significantly enhanced by an increase in income, farm training, the closeness of formal financial institutions (FFIs), larger household size, and small-scale production at a 1% significance level, and more years of farming experience at 5%. Moreover, 51.3% of the major constraints to financial inclusion were accounted for by lack of collateral security, distant FFIs, and low income.\u0000Implications: Reducing the distance of FFIs by establishing more institutions with considerations on collateral, increasing income through extension services like farm training, and sound agronomic practices will enhance financial inclusion. \u0000Originality: The uniqueness of this study lies in the context of the socio-political crisis during which cocoa producers were interviewed and exploring how the crisis influenced financial inclusion through a host of factors. Moreover, besides just access to credit as considered by most studies in Cameroon, the current study considers the use and quality of formal financial services as well.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132847308","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":"Agripreneurship and Poverty Reduction","authors":"Paul Akumbom, Mary-Juliet Bime Egwu, Peter Ngek Shillie","doi":"10.38157/fer.v5i1.526","DOIUrl":"https://doi.org/10.38157/fer.v5i1.526","url":null,"abstract":"Purpose: The purpose of the study is to investigate how entrepreneurship in the agriculture sector could help alleviate poverty in the Tubah region of Cameroon. Specifically, the study seeks to explore the potential of agripreneurship in creating job opportunities, increasing income levels, and improving the living standards of people in the region.\u0000Methods: Mixed-method design was employed for the study. Data was gathered with the help of a structured questionnaire from 384 households in Tubah-Cameroon and analyzed using the partial least square.\u0000Results: Results revealed that attitudes towards agripreneurship, innovative behavior, and the need for achievement had a positive effect on poverty reduction in Tubah Sub-Division.  Inheritance of family ventures and start-up motives were found to exert negative effect on poverty reduction.\u0000Implications: The study is expected to contribute to the understanding of how entrepreneurship in the agriculture sector can be leveraged to promote economic opportunities and promote sustainable development in rural areas.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"388 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133512300","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":"Does Corporate Governance Matter for Bank Performance and Risk-taking?","authors":"Som Nepali","doi":"10.38157/fer.v4i2.491","DOIUrl":"https://doi.org/10.38157/fer.v4i2.491","url":null,"abstract":"Purpose: This study empirically examines the linkages of corporate governance with the performance and risk-taking of Nepalese banks.\u0000Methods: The study uses balanced panel data collected from annual reports [2010-2018] of the selected nineteen banks, including seven foreign-owned banks and twelve domestic banks. The study employs a descriptive and causal-comparative research design with the Ordinary Least Square (OLS) regression approach. \u0000Results: The results reveal that a greater number of board meetings and audit committee meetings leads to better performance and lower risk. The independent sample t-test results show that foreign-owned banks significantly differ from domestic banks using corporate governance mechanisms except for board size and audit committee size. Cohen's d results reveal that the number of board-level committees has a medium effect and all other corporate governance variables have a lesser effect on domestic banks than on foreign-owned banks. \u0000Implications: The study has policy-level implications for the regulators to emphasize the provisions relating to board size, audit committee size, and their respective meetings for enhancing financial stability. Similarly, the study findings also facilitate bankers to look after and make changes to corporate governance practices prudently. \u0000Originality: This study uses Tobin's Q to measure bank performance and employs a Z-score to measure bank risk-taking behavior, which makes it one of the very few studies that explain the impact of corporate governance on bank performance and bank risk-taking.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127408551","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":"Modeling the Impact of Pandemic-Induced Shocks and Support Measures with an Emerging Market Economy","authors":"Md. Al-Amin Parvez, Mashrura Kabir Shaeba, Md. Sajjad Hossain, Evanta Hashem Katha","doi":"10.38157/fer.v4i2.453","DOIUrl":"https://doi.org/10.38157/fer.v4i2.453","url":null,"abstract":"Purpose: This paper analyzes the impacts of COVID-19 shocks on an emerging market economy using a Graphical User Interface (GUI) model.\u0000Methods: Event study analysis has been adopted using secondary data for measuring the impacts and impulse responses of different shocks.\u0000Results:  The paper shows how the shocks affect the economy using graphical presentations of impulse responses of major macroeconomic indicators. The shapes and movements of the impulse response curves indicate how the effects pass through from one sector to another; how long the effects may persist in the economy, and how much time will be required for recovery. All these simulations suggest that immediate supportive measures from both fiscal and monetary sides help recover the economy, although marginally due to the required higher costs stemming mainly from the higher exchange rate volatility.\u0000Implications: Several policy implications such as sector-specific support measures, prioritization of sectors, rationing of credit facilities, efficient exchange rate management, etc., can be followed by the countries regarding fiscal and monetary policy measures towards reducing COVID-19-induced similar shocks.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121721265","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":"Liquidity, Trading Activity, and Stock Price Volatility","authors":"Ndava Constantine Mupondo","doi":"10.38157/fer.v4i2.482","DOIUrl":"https://doi.org/10.38157/fer.v4i2.482","url":null,"abstract":"Purpose: While the bulk of previous research focused on security-level volatility and the relationship of its determinants, the current study considers the relationship between the number of trades, lagged absolute returns, trading volume, bid-ask spread, and price volatility on the Zimbabwe stock market.\u0000Methods: The study applied Hausman's (1982) tests of the specification. The parameters and elasticity of explanatory variables have been estimated by utilizing the Generalized Method of Moments (GMM) procedure in a five-equation structural model. The data were obtained from a web-based financial market platform, Investing.com for the period between 2009 and 2021.  \u0000Results: Results show that inflation had a positive relationship with stock price volatility, which provided a hedge against inflation. There exists an indistinguishable difference between the random effects (RE) and fixed effects (FE) results and those obtained using the Pooled Ordinary Least Squares (POLS) on the total sample reflecting a cohesion of these findings.\u0000Implications: Understanding the relationship between inflation and market risk (volatility) can be beneficial to the investor in selecting the appropriate and most convenient investment strategy. From a policy-making perspective, strategic policy measures employed towards reducing inflation would certainly reduce stock market volatility and boost investor confidence.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123537454","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":"Effect of Board size on Earnings quality of Non-Financial Firms Listed at the Nairobi Securities Exchange","authors":"Sammy Thuo Kangea, T. Nasieku, W. Muturi","doi":"10.38157/fer.v4i1.377","DOIUrl":"https://doi.org/10.38157/fer.v4i1.377","url":null,"abstract":"Purpose: The main purpose of the study was to analyze the relationship between board size and the earnings quality of non-financial firms listed on the Nairobi Stock Exchange (NSE) and also determine the effect of board size on earnings quality with ownership concentration as moderating variable. \u0000Methods: A positivist research philosophy was adopted and a quantitative research design was employed. The target population of the study was the 39 non-financial companies listed in NSE as of 31st December 2020. Secondary data was the main source of information for the study. The data was s panel type of data based on a period of 13 years (2008-2020). Positivism research philosophy and quantitative research design were employed in the study. Data were analyzed based on the panel regression model. Both diagnostic and specification test for the model applied was conducted. \u0000Results: The study established that board size had a significant effect on the earnings quality of non-financial firms listed at the NSE in the presence and absence of ownership concentration as moderator.  Further, the results showed that the model with a moderator was superior to that without a moderator.  \u0000Implications: The non-financial firms listed in NSE should closely examine the criteria used in determining the size of the board and its composition to ensure that boards are more independent and diversified. This will reduce incidences of earnings manipulations and ensure that the directors are accountable to the shareholders which in turn will lead to improvement of investor confidence.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131270345","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":"Corporate Sustainability Practices and Corporate Financial Performance of Selected Breweries in Nigeria","authors":"U. Okafor, Etim Okon Philip, T. E. Edet, Nse Bassey Okon","doi":"10.38157/fer.v4i1.390","DOIUrl":"https://doi.org/10.38157/fer.v4i1.390","url":null,"abstract":"Purpose: The nexus between Corporate Sustainability Practices (CSP) and Corporate Financial Performance (CFP) has over the years yielded a mix of positive, negative, and neutral associations across industries and territories. Considering the paradox of economic benefits against negative sustainability implications of manufacturing and consuming alcoholic beverages, the researchers examined the influence of CSP on the CFP of selected breweries in Nigeria. In two hypotheses, the proxies for CSP are Social-Infrastructural-Development Cost, Community-Education-and-Training Cost, and Community-Health-Related Cost, whereas the determinants for CFP are return on equity and prices of shares. \u0000Methods: Adopting a causal-comparative research design, data were obtained from the annual financial reports of the companies and the Nigerian Stock Exchange factbooks. The multivariate regression analysis was deployed for estimating the results. \u0000Results: The general models for testing hypotheses one and two indicated that corporate sustainability practices do not significantly influence either the return on equity or the market prices of the shares of breweries in Nigeria.\u0000Implications: The researchers concluded that changes in the level of CSP were not enough for predicting variations in the CFP of breweries in Nigeria. It was, however, observed that awareness about CSP and the related value is still low among capital market investors and consumers in Nigeria. Hence, breweries are encouraged to be consistent with such practices as the associated benefit may be incremental.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"18 9","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120836325","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":"Impact of Bank Specific and Macroeconomic Determinants on Banks Liquidity","authors":"Nishat Tasnova","doi":"10.38157/fer.v4i1.372","DOIUrl":"https://doi.org/10.38157/fer.v4i1.372","url":null,"abstract":"Purpose This study examines the influences of bank-specific and macroeconomic determinants on liquidity on 29 listed commercial banks of Bangladesh.\u0000Methods To analyze the relationship, this study performs Pooled Ordinary Least Square method, fixed and random effect estimates, and implemented GLS random effect method on strongly balanced panel dataset over 2014 to 2019. Capital adequacy, nonperforming loans, and profitability are considered bank-specific factors while GDP, Monetary policy interest rate, and Interest rate spread are considered the macroeconomic factors.\u0000Results Business cycle and monetary policy interest rate inversely affected bank liquidity. Contrary, bank liquidity has a positive association with profitability, nonperforming loans, capital adequacy, and interest rate spread. According to the findings, capital adequacy and business cycle have a significant impact on liquidity.\u0000Implications This study has significant implications for bankers, consumers, and policymakers. The banking sector of Bangladesh will highly be benefited from this research as this paper critically analyzes the determinants of banks' liquidity risk. This research will help the banks and other financial institutions to understand the effect of capital adequacy, nonperforming loans on liquidity in the Bangladeshi context. This study infers that banks need to monitor the factors cautiously to avoid the liquidity crisis in the future.\u0000Originality There are a few studies that examine these determinants with liquidity in the Bangladeshi context. This remarks the significance of the present paper as this study put an attempt to analyze bank-specific and macroeconomic determinants with bank liquidity in the Bangladeshi context has been conducted within a limited scope.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129746323","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":"Access to and Repayment of Agricultural Credit in the Face of COVID 19","authors":"Peter Ngek Shillie, M. Bime, Roland Azibo Balgah, Miranda Lambiv Wiysherinyuy","doi":"10.38157/fer.v4i1.335","DOIUrl":"https://doi.org/10.38157/fer.v4i1.335","url":null,"abstract":"Purpose: Gender differences in access to and repayment of loans seem to be the reason behind the persistent subsistence and small-scale nature of most agribusinesses in Cameroon. This study examines access to and repayment of agricultural credit in the face of COVID 19 in the West Region of Cameroon building on evidence from selected microfinance institutions in the West Region of Cameroon. Specifically, the study mirrors gender differences in microfinance loan disbursements and repayments, determinants of loan repayment, and constraints to loan access and loan repayment during the period of COVID 19.\u0000Method: The purposive sampling technique was employed to select 100 farmers who had access to agricultural credit in three villages in the West Region of Cameroon. A pre-tested questionnaire was used for primary data collection and secondary data was collected from microfinance institutions and the internet. Collected data were analyzed employing tables, frequencies, t-test, and regression analysis.\u0000Results: Findings indicated that there was a positive insignificant difference in the amount of credit received and repaid by male farmers than that of the female farmers. The male and female have equal access to credit and the same repayment capacities (R2 = 0.55 or 55%). Loan repayment was statistically and significantly determined by loan amount, interest rate, and time lag for repayment at the 5% significance level. Serious constraints to loan access were lack of sensitization, lack of collateral security, and illiteracy while major constraints to loan repayment were family commitment, price fluctuation, crop failure, high cost of production, and interest payment.\u0000Implications: Increasing the ceiling for loan amount approved for farmers and curbing excessive bureaucratic procedures would ensure minimal diversion of the loans, higher income for the farmers, and hence better repayment rates.\u0000Originality: The distinctiveness of this study is viewed from the context of the COVID 19 pandemic within which data was collected, thus capturing how the pandemic situation played a role in access to and repayment of agricultural loans from the perspective of gender.","PeriodicalId":405715,"journal":{"name":"Finance & Economics Review","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133420082","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}