Scientific Annals of Economics and Business最新文献

Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context 风险披露与非财务报告：新欧洲背景下的证据

IF 0.6

Scientific Annals of Economics and Business Pub Date : 2023-12-14 DOI: 10.47743/saeb-2023-0039

Manuel Rejón López, Lázaro Rodríguez Ariza, Diego Valentinetti, Francisco Flores Muñoz

{"title":"Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context","authors":"Manuel Rejón López, Lázaro Rodríguez Ariza, Diego Valentinetti, Francisco Flores Muñoz","doi":"10.47743/saeb-2023-0039","DOIUrl":"https://doi.org/10.47743/saeb-2023-0039","url":null,"abstract":"The objective of this research is to determine the extent and current characteristics of risk disclosure in Europe in the context of corporate non-financial reporting practices. A multivariate linear regression analysis on risk disclosure behaviour is performed on a sample of companies included in the EURO STOXX 50 Index, whose data were collected from their annual financial reports. Additionally, a first longitudinal exploration is carried out with respect to the GRI standard. It was possible to detect which risk items are more frequently reported by the selected corporations, and which corporate documents are most likely to contain relevant risk information. It was also possible to establish a link between specific industries, countries and company financial profiles and levels of risk disclosure. This empirical research is particularly relevant in the current scenario where several events converge: the gradual evolution, since 2017, of the NFRD (Non-Financial Reporting Directive) to a new Corporate Sustainability Reporting Directive (CSRD); the subsequent legal requirements for 2020 and 2021 of the ESEF (European Single Electronic Format) to support the disclosure of annual corporate reports; the pandemic and the new war scenario in Europe. This empirical work provides novel insights into risk disclosure and non-financial information in a particular setting, i.e., pre- and post-pandemic Europe, against a backdrop of growing concern about a new war scenario.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"33 8","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138972873","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

Mobile Money and Banking Development in Sub-Saharan Africa 撒哈拉以南非洲的移动支付和银行业发展

IF 0.6

Scientific Annals of Economics and Business Pub Date : 2023-12-12 DOI: 10.47743/saeb-2023-0036

J. Tembo

{"title":"Mobile Money and Banking Development in Sub-Saharan Africa","authors":"J. Tembo","doi":"10.47743/saeb-2023-0036","DOIUrl":"https://doi.org/10.47743/saeb-2023-0036","url":null,"abstract":"The study investigated the relationship between mobile money growth and banking development in Sub-Saharan Africa. The question of whether mobile money threatens or supports traditional banks is contentious. Therefore, the motivation was to comprehensively examine the extent of mobile money's influence on banking development. The study used a quantitative research design with aggregated quarterly panel data from the four regions of Sub-Saharan Africa. The Panel ARDL estimation was applied to quantify the nature of the relationship between mobile money and banking development variables. Study findings showed that an increase in active mobile money accounts and volumes was associated with a decline in bank accounts, bank branches, and ATMs in the long run. At the same time, this trend was offset by positive impacts on private sector credit and total bank assets again in the long run. The findings align and extend the technology acceptance models and show that increased use of mobile money technology has substitution and complementary effects on banking development. Policymakers and financial institutions should carefully consider the potential trade-offs and synergies between mobile money adoption and traditional banking services, leveraging the positives while addressing challenges arising from the disruptive forces of technological innovation.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"31 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139009418","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

An Empirical Analysis of the Central Bank of China's Monetary Policy and the Impact of its Communications on Market Interest Rates, Liquidity and Credit 中国中央银行货币政策及其沟通对市场利率、流动性和信贷影响的实证分析

IF 0.6

Scientific Annals of Economics and Business Pub Date : 2023-12-11 DOI: 10.47743/saeb-2023-0035

Nicoleta Vasilcovschi, Giovanni Verga

{"title":"An Empirical Analysis of the Central Bank of China's Monetary Policy and the Impact of its Communications on Market Interest Rates, Liquidity and Credit","authors":"Nicoleta Vasilcovschi, Giovanni Verga","doi":"10.47743/saeb-2023-0035","DOIUrl":"https://doi.org/10.47743/saeb-2023-0035","url":null,"abstract":"As one of the largest world's economies, China’s economy plays an important role at regional and global levels. In this context, with the fast opening steps of the Chinese economy to international markets, the Chinese Central Bank (PBC or PBOC) has adjusted its mechanisms to the needs of local and international economies. Chinese monetary policy is designed to keep prices and economic growth stable and to ensure the country’s economic development. The Chinese Central Bank has a significant influence over Chinese interest rates, interbank rates, and changes in liquidity and credit. The main goal of this research paper is to describe the role of the Chinese Central Bank in delivering Chinese monetary policy and its changes over the past few years. Our research paper is dedicated to verifying how the Chinese Central Bank's press releases are useful indicators for the future trend of market interest rates after constructing a numerical index representative of expansive or restrictive net signals contained in any of the PBC Communications examined. An empirical analysis over Chinese Monetary Policy Communications (Reports) is included in this research paper, presenting how the Central Bank of China is implementing its monetary policy in order to influence the development of its economic growth through its market interest rates, liquidity and credit movement.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"91 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138979571","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 Foreign Direct Investment and Trade Openness Support Economic Development? Evidence from Four European Countries 外国直接投资和贸易开放是否支持经济发展？来自四个欧洲国家的证据

IF 0.6

Scientific Annals of Economics and Business Pub Date : 2023-12-05 DOI: 10.47743/saeb-2023-0033

E. Yeboah

{"title":"Does Foreign Direct Investment and Trade Openness Support Economic Development? Evidence from Four European Countries","authors":"E. Yeboah","doi":"10.47743/saeb-2023-0033","DOIUrl":"https://doi.org/10.47743/saeb-2023-0033","url":null,"abstract":"The European Union (EU) as a political and economic union has provided many benefits to its member states through the single market and common tariffs that serves as a platform for internal trade and international trade with third-world countries. The study aimed to investigate the effect of foreign direct investment (FDI) and trade openness on economic development in four selected countries including the Czech Republic, Estonia, Lithuania, and Slovakia using panel data from 1995 to 2021. The data was obtained from the World Bank and analyzed through econometric methods such as pooled model, fixed effect model, random effect model, and the dynamic panel model. The between transformation results using the pooled ordinary least squares indicated that the Czech Republic had the highest intercept coefficient, followed by Slovakia, Lithuania, and Estonia, respectively. The panel specification test discovered that the pooled model was inadequate, and the random effect model is the most appropriate to be used. The results from the random and fixed effects models displayed that FDI and trade openness have a positive impact on economic growth in these countries. Additionally, the dynamic panel outcome proved a positive effect of FDI and trade openness. The study recommends that governments in these countries improve their business environment to attract more FDI and trade relations with other countries.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"97 12","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138985084","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

Panel Data Analysis of the Impact of External Debt on Economic Growth and Inflation: The Case of Emerging Market Economies 外债对经济增长和通货膨胀影响的面板数据分析：新兴市场经济体的案例

IF 0.6

Scientific Annals of Economics and Business Pub Date : 2023-12-05 DOI: 10.47743/saeb-2023-0034

A. O. Umit, Anıl Dagdemir

{"title":"Panel Data Analysis of the Impact of External Debt on Economic Growth and Inflation: The Case of Emerging Market Economies","authors":"A. O. Umit, Anıl Dagdemir","doi":"10.47743/saeb-2023-0034","DOIUrl":"https://doi.org/10.47743/saeb-2023-0034","url":null,"abstract":"This study aimed to analyze the impact of external debt on economic growth and inflation for emerging market economies for the period 1995-2020 using the panel data method. To this end, the study used the data on 12 countries listed in the Morgan Stanley Capital Index (MSCI) Emerging Markets Index. The results of the panel cointegration analysis showed that changes in external debt stock affect economic growth in the opposite direction and inflation rate in the same direction. According to the country-specific results of the panel cointegration analysis, external debt had a negative impact on economic growth in all countries except Mexico, Egypt, India, and Türkiye. External debt increased inflation in all countries except China, Egypt, India, South Africa, and Thailand. The Bootstrap panel causality test results showed a unidirectional causality from economic growth to external debt stock in China, India and Thailand, and a bidirectional causality in China. A unidirectional causality was also found from external debt stock to inflation in Colombia, and a unidirectional causality from inflation to external debt in China, India, Peru, and Thailand. Based on the cointegration analysis results, it is recommended that external debt should be used to finance more productive investments in order to ensure sustainable economic growth in Brazil, China, Colombia, Indonesia, Peru, Philippines, South Africa, and Thailand. The panel causality test results also showed that economic growth in China, India, and Thailand requires more external resources. Based on these results, it is recommended to reduce external debt in order to reduce inflation in Brazil, Colombia, Indonesia, Mexico, Peru, Philippines, and Türkiye.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"96 17","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138985095","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

Resilience to Online Privacy Violation: Developing a Typology of Consumers 网络隐私侵犯的弹性:消费者类型的发展

Scientific Annals of Economics and Business Pub Date : 2023-09-25 DOI: 10.47743/saeb-2023-0028

Jelena Budak, Edo Rajh, Bruno Škrinjarić

引用次数: 0

Government Support During COVID-19 and Corruption 2019冠状病毒病和腐败期间的政府支持

Scientific Annals of Economics and Business Pub Date : 2023-09-25 DOI: 10.47743/saeb-2023-0029

Zana Beqiri Luma, Rilind Ademi

{"title":"Government Support During COVID-19 and Corruption","authors":"Zana Beqiri Luma, Rilind Ademi","doi":"10.47743/saeb-2023-0029","DOIUrl":"https://doi.org/10.47743/saeb-2023-0029","url":null,"abstract":"We analyze the allocation and effectiveness of government support in response to the COVID-19 outbreak across a nationally representative sample of firms in 32 countries representing different levels of institutional transparency. The probability of receiving government support is higher for larger firms, firms belonging to business support groups and innovative firms in low corruption countries. In high corruption, countries firms competing against unregistered establishments, with lack of internationally recognized quality certification and no formalized business strategy are more likely to receive government support. Using the panel structure of the data to address reverse causality, selection bias and unobserved heterogeneity, we then find that government support improves firm-level outcomes more strongly in low corruption countries. Among different types of government support, we find wage subsidies to be more effective in high corruption countries while technical assistance for adoption of digital technologies in low corruption countries. In addition, social distancing and lockdown policies do not seem to be as effective in improving firm-level outcomes in high-corruption countries most likely because of weaker capacities to enforce such policies. These results show the importance of enhancing systems of accountability and enforcement procedures that will ensure that fiscal stimulus aid is deployed to benefit those who need it the most.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135864268","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

Audit Quality Review: An Analysis Projecting the Past, Present, and Future 审计质量评审:预测过去、现在和未来的分析

Scientific Annals of Economics and Business Pub Date : 2023-09-25 DOI: 10.47743/saeb-2023-0032

Niva Kalita, Reshma K. Tiwari

引用次数: 0

Time-Series Momentum in a Small European Stock Market: Evidence from a New Historical Financial Dataset 欧洲小型股票市场的时间序列动量:来自新的历史金融数据集的证据

Scientific Annals of Economics and Business Pub Date : 2023-09-20 DOI: 10.47743/saeb-2023-0021

Júlio Lobão, Ana Rosário

{"title":"Time-Series Momentum in a Small European Stock Market: Evidence from a New Historical Financial Dataset","authors":"Júlio Lobão, Ana Rosário","doi":"10.47743/saeb-2023-0021","DOIUrl":"https://doi.org/10.47743/saeb-2023-0021","url":null,"abstract":"In this paper, we examine the Portuguese stock market for indication of time-series momentum effects using a new historical financial dataset that covers about 120 years of data. We find strong time-series momentum effects that cannot be explained by conventional risk factors. The positive return continuation seems to last for a period of 12 months, being heavily concentrated at the first month. At longer investment horizons, returns tend to mean-revert. The market exhibited significant time-series momentum for all look-back and holding periods of 12 months or less. A strategy with a 1-month look-back period and a 12-month holding period is shown to be the most profitable yielding a Sharpe ratio roughly 5.4 times that generated by a passive strategy. Time-series momentum strategies tend to perform best during extreme up-market periods and deliver the worst returns during down markets. This suggests that the strategy may not offer significant diversification benefits. Our findings add to the evidence that time-series momentum effects are not a product of data mining and are difficult to reconcile with the assertion that stock markets follow a random walk.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136377725","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

A Comprehensive Bibliometric Analysis of fNIRS and fMRI Technology in Neuromarketing 神经市场营销中fNIRS和fMRI技术的综合文献计量分析

Scientific Annals of Economics and Business Pub Date : 2023-09-19 DOI: 10.47743/saeb-2023-0031

Ahmed Alsharif, Nor Zafir Md. Salleh, Lina Pilelienė

{"title":"A Comprehensive Bibliometric Analysis of fNIRS and fMRI Technology in Neuromarketing","authors":"Ahmed Alsharif, Nor Zafir Md. Salleh, Lina Pilelienė","doi":"10.47743/saeb-2023-0031","DOIUrl":"https://doi.org/10.47743/saeb-2023-0031","url":null,"abstract":"The aim of this study is to perform a comprehensive bibliometric analysis of functional near-infrared spectroscopy (fNIRS) and functional magnetic resonance imaging (fMRI) tools. To achieve this aim, we adopted the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol and bibliometric analysis (VOSviewer) for extracting the relevant papers (articles and reviews) from the Scopus database between 2002 and 2022. A total of 86 papers were included in the analysis. The results showed an increasing trend in publications over the years—the top countries in terms of publication outcome were the United States, Germany, Spain, and Australia. The analysis also identified the most influential authors and institutions in the field. In addition, we analyzed the most frequently cited articles, journals, and keywords related to fNIRS and fMRI tools. This bibliometric analysis provides insights into the current state of research on fNIRS and fMRI tools. It also provides insights into the direction of future research in this field. In this study, we will provide general insights and details about current trends in neuromarketing research using fNIRS and fMRI.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135109619","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: 7