{"title":"The contagion between stock markets: evidence from Vietnam and Asian emerging stocks in the context of COVID-19 Pandemic","authors":"L. Huong","doi":"10.1080/17520843.2021.1993653","DOIUrl":"https://doi.org/10.1080/17520843.2021.1993653","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"1 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2021-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42394493","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 behaviour of the risk based capital adequacy ratio in Iran’s banking system","authors":"E. Rezaei","doi":"10.1080/17520843.2021.1988671","DOIUrl":"https://doi.org/10.1080/17520843.2021.1988671","url":null,"abstract":"ABSTRACT This study was carried out to identify the determinants of the behaviour of public and private banks in determining their risk and capital over 2001–2016 period by considering the banks’ risk and capital simultaneously. The model was estimated using 2SLS-RE and GMM methods. According to the results, the endogeneity of two variables of risk and capital in equations cannot be rejected. It should be noted that this study does not reject a significant relationship between the risk and thecapital to risk (weighted) assets ratio (CRAR) over the study period.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"16 1","pages":"285 - 299"},"PeriodicalIF":1.3,"publicationDate":"2021-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43059635","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":"Macroeconomic variables and stock market performance: a PMG/ARDL approach for BRICS economies","authors":"U. Lone, M. A. Darzi, K. Islam","doi":"10.1080/17520843.2021.1983704","DOIUrl":"https://doi.org/10.1080/17520843.2021.1983704","url":null,"abstract":"ABSTRACT The present study seeks to examine the impact of select macroeconomic variables on stock market performance in the BRICS economies. The study has used monthly data over the period 2011–2021. The study has employed both ARDL bounds testing model and PMG/ARDL model to measure the short and long-run relationships. Both the models provide the confirmatory results regarding short as well as long-run relationships for all the BRICS economies excluding South Africa. Also, the variables have been found to be causally related with each other during the sample period. The study has implications for policymakers, regulators, academia and investors.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"16 1","pages":"300 - 325"},"PeriodicalIF":1.3,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49019166","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":"Accruals, cash flows and stock returns: evidence from BIST 100","authors":"Emine Kaya","doi":"10.1080/17520843.2021.1983702","DOIUrl":"https://doi.org/10.1080/17520843.2021.1983702","url":null,"abstract":"ABSTRACT The purpose of this study is to determine whether there is a relationship between the accruals, cash flows and stock returns for firms which trade in the BIST 100 index between 2005 and 2017 years. Findings prove that the persistence of the earning is high, and the persistence of cash flows is higher than the persistence of accruals. We find that accruals are negative predictors and cash flows are positive predictors for stock returns. In addition, simultaneously, we conclude that the discount rates and the change in the accruals and cash flows act together.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"16 1","pages":"137 - 156"},"PeriodicalIF":1.3,"publicationDate":"2021-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45053131","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 do firms manage liquidity during currency crisis? The case of Turkey","authors":"Ismail Kalash","doi":"10.1080/17520843.2021.1983703","DOIUrl":"https://doi.org/10.1080/17520843.2021.1983703","url":null,"abstract":"ABSTRACT This study investigates how the 2018-currency crisis in Turkey, which exacerbated the borrowing costs, has affected the liquidity management of a sample of 186 Turkish listed firms. The results reveal that firms that relied heavily on short-term borrowing before the crisis period have responded to the crisis by reducing short-term borrowing and increasing internal cash. However, investment levels and the use and supply of trade credit have not been changed during the crisis. The results also show that the substitution into internal cash is significantly higher for small firms than for large firms.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"16 1","pages":"247 - 263"},"PeriodicalIF":1.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45200463","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 locational asymmetry in the twin deficit hypothesis for the WAMZ countries","authors":"Taiwo Ajilore, N. Usman","doi":"10.1080/17520843.2021.1982589","DOIUrl":"https://doi.org/10.1080/17520843.2021.1982589","url":null,"abstract":"The study adopts the Quantile Autoregressive Distributed Lags (QARDL) method to examine the existence of locational asymmetry in the nexus between fiscal and current account deficits in the WAMZ zo...","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46035933","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":"Financing discretionary payout via debt or equity – evidence from India","authors":"Hardeep Singh Mundi, Deepak Kumar","doi":"10.1080/17520843.2021.1983706","DOIUrl":"https://doi.org/10.1080/17520843.2021.1983706","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2021-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42914023","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":"Determinants of stock market liquidity – a macroeconomic perspective","authors":"P. Naik, Y. Reddy","doi":"10.1080/17520843.2021.1983705","DOIUrl":"https://doi.org/10.1080/17520843.2021.1983705","url":null,"abstract":"This study examines the impact of macroeconomic indicators on the liquidity of the Indian stock market by using the Granger Causality, Vector Auto-Regressive Model, and Impulse Response Functions. ...","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2021-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43060884","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 test for the contributions of urban and rural inflation to inflation persistence in Nigeria","authors":"G. Ebuh, Afees A. Salisu, V. Oboh, N. Usman","doi":"10.1080/17520843.2021.1974507","DOIUrl":"https://doi.org/10.1080/17520843.2021.1974507","url":null,"abstract":"ABSTRACT This study tests the contributions of urban and rural inflation to inflation persistence in Nigeria using the fractional cointegration VAR model and the univariate fractional integration approaches. The results indicate a high contribution of urban and rural inflation to the overall inflation persistence in Nigeria albeit with contrasting evidence for the pre-and post-Global Financial Crisis (GFC) periods. While the urban inflation contributed more than the rural inflation to the persistence of the overall inflation during the pre-GFC, the converse holds during the post-GFC. Although, the empirical analysis of the factors underlying this outcome is reserved for future research, bridging the gap between the two inflation subsamples would be a plausible policy action.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":"16 1","pages":"222 - 246"},"PeriodicalIF":1.3,"publicationDate":"2021-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46647100","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}
Harit Satt, Sarah Nechbaoui, M. Hassan, Zairihan Abdul Halim
{"title":"Institutional ownership and firm performance: the case of Morocco","authors":"Harit Satt, Sarah Nechbaoui, M. Hassan, Zairihan Abdul Halim","doi":"10.1080/17520843.2021.1979327","DOIUrl":"https://doi.org/10.1080/17520843.2021.1979327","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2021-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42970055","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}