发布求助
文献互助 智能选刊 最新文献

Economics and Business Letters最新文献

筛选
英文 中文
The role of macroeconomic and geopolitical news on gold returns and volatility 宏观经济和地缘政治新闻对黄金回报和波动性的影响
IF 0.9
Economics and Business Letters Pub Date : 2021-02-21 DOI: 10.17811/EBL.10.1.2021.72-80
N. Apergis, T. Hayat, T. Saeed
{"title":"The role of macroeconomic and geopolitical news on gold returns and volatility","authors":"N. Apergis, T. Hayat, T. Saeed","doi":"10.17811/EBL.10.1.2021.72-80","DOIUrl":"https://doi.org/10.17811/EBL.10.1.2021.72-80","url":null,"abstract":"The goal of this paper is to explore the simultaneous role of macroeconomic and geopolitical news in gold returns and its associated volatility. The analysis uses sentiment scores for certain macroeconomic and geopolitical global news, along with a GARCH modelling approach. The findings document that both types of news substantially impact gold returns and their associated volatility, with geopolitical news having a stronger impact.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45626593","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
Chasing returns with high-beta stocks: evidence from tax-privileged mutual funds in Thailand 追逐高贝塔股票的回报:来自泰国享有税收优惠的共同基金的证据
IF 0.9
Economics and Business Letters Pub Date : 2021-02-21 DOI: 10.17811/EBL.10.1.2021.37-44
Roongkiat Ratanabanchuen, Kanis Saengchote
{"title":"Chasing returns with high-beta stocks: evidence from tax-privileged mutual funds in Thailand","authors":"Roongkiat Ratanabanchuen, Kanis Saengchote","doi":"10.17811/EBL.10.1.2021.37-44","DOIUrl":"https://doi.org/10.17811/EBL.10.1.2021.37-44","url":null,"abstract":"One proposed explanation for the low-beta anomaly – a puzzling finding that stocks with low systematic risk tend to earn higher returns than the CAPM predicts and vice versa – is that mutual funds drive up demand for high-beta stocks, leading to systematic mispricing. We find evidence that Thai equity mutual funds tend to alter their risk exposure in response to fund flows, but only for incentivized funds where investors receive immediate tax benefits. We argue that the benefits change the way investors make their decisions, raising an issue of how public policies may have unintended consequences in capital markets.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46939423","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
Government borrowing as a Ponzi scheme: the case of Bangladesh 政府借贷是庞氏骗局：以孟加拉国为例
IF 0.9
Economics and Business Letters Pub Date : 2021-02-21 DOI: 10.17811/EBL.10.1.2021.81-86
Syed Yusuf Saadat
{"title":"Government borrowing as a Ponzi scheme: the case of Bangladesh","authors":"Syed Yusuf Saadat","doi":"10.17811/EBL.10.1.2021.81-86","DOIUrl":"https://doi.org/10.17811/EBL.10.1.2021.81-86","url":null,"abstract":"This study investigates whether government borrowing can be likened to a Ponzi scheme which will allow the government to roll-over its debt perpetually. The results show that, on the basis of the condition of maintaining real economic growth rate above and beyond the real interest rate on government debt, it will not be possible to sustain a perpetual Ponzi scheme of all four types of National Savings Certificates in Bangladesh. The government’s debt may be rolled over perpetually for two types of National Savings Certificates, following the condition outlined in Ball, et al. (1998), or for three types of National Savings Certificates following the condition outlined in Mehrotra (2017).","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44418338","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
Does the UK economy grow faster under a Conservative or Labour government? 英国经济在保守党还是工党执政下增长更快?
IF 0.9
Economics and Business Letters Pub Date : 2021-01-13 DOI: 10.17811/EBL.10.2.2021.95-101
Amr Algarhi, Alexander Tziamalis
{"title":"Does the UK economy grow faster under a Conservative or Labour government?","authors":"Amr Algarhi, Alexander Tziamalis","doi":"10.17811/EBL.10.2.2021.95-101","DOIUrl":"https://doi.org/10.17811/EBL.10.2.2021.95-101","url":null,"abstract":"We use quarterly data from 1955 to 2019 to examine the performance of Conservative and Labour administrations in terms of real GDP growth in the United Kingdom. To account for fiscal lags in the legislation and implementation of new policies by each administration, we explore up to lag 8 in addition to an overlapping technique. Our main finding is that the UK economy has grown with a similar pace under both parties, however Labour governments seem to do better in tackling recessions and achieve a more consistent performance. Labour’s advantage becomes more pronounced if we discount the effect of a large external shock, the 2008 Financial Crisis.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42210917","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
Adoption of yield-increasing technologies in poorly integrated crop output markets 在一体化程度较低的作物产量市场采用增产技术
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.319-330
R. A. Nikiema
{"title":"Adoption of yield-increasing technologies in poorly integrated crop output markets","authors":"R. A. Nikiema","doi":"10.17811/ebl.10.3.2021.319-330","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.319-330","url":null,"abstract":"This paper analyzes the relationship between crop output market and the use of modern inputs of farmers in developing countries. For this purpose, we used a large-scale household dataset collected in rural Burkina Faso. We found evidence that crop output market integration matters in farmer decision to adopt modern inputs. More specifically, an increase of the spatial price dispersion by 10% is significantly associated with a decrease of the probability of using modern inputs by 4%. However, price volatility affects neither the decision to use of the modern nor the intensity of adoption. Our finding implies that in order to succeed, agricultural interventions that target the adoption of modern inputs should be accompanied with market development measures.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67429891","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
Pricing of higher education: The case of top-ranked MBA programs 高等教育的定价:以顶级MBA项目为例
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.310-318
Andy W. Chen, Haoyang Chen
{"title":"Pricing of higher education: The case of top-ranked MBA programs","authors":"Andy W. Chen, Haoyang Chen","doi":"10.17811/ebl.10.3.2021.310-318","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.310-318","url":null,"abstract":"Tuition fees of full-time MBA programs with similar structure can vary greatly from around USD $20,000 to USD $220,000. This paper explores the effects of post-graduation salary, reputation, and their interaction on such high discrepancy in MBA tuition. Using a unique dataset of international MBA programs, we found that program value is positively correlated with post-graduation salary. This relationship is stronger for more prestigious programs whose values are impacted more by graduate outcomes. In addition, this relationship is greater for North American programs, but smaller for European programs, suggesting a geographical effect. These results provide managerial implications for program administrators and universities offering professional business programs. These insights can be extended to other industries of intangible experience goods.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67430345","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
Market structure, state ownership and monetary policy transmission through bank lending channel: Evidence from Vietnamese commercial banks 市场结构、国有制与银行贷款渠道中的货币政策传导:来自越南商业银行的证据
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.164-177
H. Nguyen, Minh Vu Ngo, Thanh Phuc Nguyen
{"title":"Market structure, state ownership and monetary policy transmission through bank lending channel: Evidence from Vietnamese commercial banks","authors":"H. Nguyen, Minh Vu Ngo, Thanh Phuc Nguyen","doi":"10.17811/ebl.10.3.2021.164-177","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.164-177","url":null,"abstract":"This paper examines the impact of market structure and state ownership on bank lending as a transmission channel for monetary policies. For controlling the effects of bank heterogeneities and macroeconomic factors on bank lending, dynamic models using two-step difference GMM with panel data collected from 25 Vietnamese commercial banks and the Vietnamese banking sector from 1999 to 2017 are employed. Results indicate that a higher level of concentration in the banking market and state ownership dampen the expected impacts of interbank interest rate on the loan growth in commercial banks, which decreases the effectiveness of monetary policy via the bank lending channel. These results are robust regarding the use of alternative measures of market structure and the inclusion of event time variables in the dynamic model. Based on the findings, monetary policy could be implied using the significant moderating impacts of state-ownership as well as the market structure of the Vietnamese banking sector on the relationship between bank loan supply and interbank interest rate.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67429984","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
Financial crisis and diversification strategies: the impact on bank risk and performance 金融危机与多元化战略:对银行风险和绩效的影响
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.249-261
Duy Khanh Pham, V. Ngo, H. Nguyen, T. Le
{"title":"Financial crisis and diversification strategies: the impact on bank risk and performance","authors":"Duy Khanh Pham, V. Ngo, H. Nguyen, T. Le","doi":"10.17811/ebl.10.3.2021.249-261","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.249-261","url":null,"abstract":"The paper investigates the impacts of diversification strategies on various indicators of bank risks and performance in emerging markets before, during, and after the global financial crisis. We use a data set of 44 commercial banks in Vietnam over the period 2002-2019 and the Generalised Method of Moments (GMM). The results suggest that income and funding diversification improve bank performance without increasing their risk-taking. During the financial crisis, assets and funding diversity help reduce risk, while income diversified banks bear more risk. The empirical findings show that different diversification dimensions affect bank risk and performance differently during crisis and non-crisis periods so bank managers need to adjust their strategy accordingly.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67430142","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: 8
Does frequent leadership changes influence firm performance? Insights from China 频繁的领导层变动会影响公司绩效吗?来自中国的启示
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.291-298
A. Akbar, Xinfeng Jiang, Zeeshan Fareed, M. Akbar
{"title":"Does frequent leadership changes influence firm performance? Insights from China","authors":"A. Akbar, Xinfeng Jiang, Zeeshan Fareed, M. Akbar","doi":"10.17811/ebl.10.3.2021.291-298","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.291-298","url":null,"abstract":"This letter is a first attempt to investigate the relationship between frequent leadership changes during the year and firm performance. We analyze how CEO frequency during one-year period impact performance indicators of Chinese listed firms. The results of panel fixed-effect regression reveal that CEO turnover leads to a decline in corporate performance measured by ROA and ROE. Moreover, with an increase in annual turnover frequency, the degree of performance decline gets more pronounced. These results remain robust after controlling for endogeneity using the alternate econometric specification of 2SLS. The study findings assert that frequent CEO changes are not conducive to firm performance. Hence, stability in the CEO tenure is essential to sustain and optimize financial performance of an enterprise.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67430297","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: 5
Basel violations, volatility model variants and value at risk: Optimization of performance deviations in banks 违反巴塞尔协议、波动率模型变异与风险价值:银行绩效偏差的优化
IF 0.9
Economics and Business Letters Pub Date : 2021-01-01 DOI: 10.17811/ebl.10.3.2021.240-248
Shahid W. Anjum
{"title":"Basel violations, volatility model variants and value at risk: Optimization of performance deviations in banks","authors":"Shahid W. Anjum","doi":"10.17811/ebl.10.3.2021.240-248","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.240-248","url":null,"abstract":"Basel penalties originate from VaR violations where a bank may end up either holding more capital or will risk to be reverted to standardized approach. Regulatory capital charge can have a huge impact on banks’ profitability which depends on the estimation of VaR thresholds which  is evaluated by the approaches like hypothesis tests, back-testing procedures and Basel Accord regulatory calculations for penalty zones are used. A multi-criteria performance measure has been introduced in this study in order to select the optimal internal model based on performance evaluation techniques which could possibly help in reduction in the VaR violations and thus may leave more capital with banks.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67430128","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
首页 上一页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信