Contemporary Economics最新文献_第8页

The Economic Impact of COVID-19 from a Global Perspective 从全球视角看COVID-19的经济影响

IF 2.1

Contemporary Economics Pub Date : 2021-02-01 DOI: 10.5709/CE.1897-9254.436

Alam Khan, N. Khan, M. Shafiq

引用次数: 42

COVID-19: Putting Stock Markets Back on Recovery among the Crude Oil Producing Economies 2019冠状病毒病:推动原油生产经济体股市复苏

IF 2.1

Contemporary Economics Pub Date : 2021-02-01 DOI: 10.5709/ce.1897-9254.43

S. Olakojo, A. Onanuga, Olaronke T. Onanuga

{"title":"COVID-19: Putting Stock Markets Back on Recovery among the Crude Oil Producing Economies","authors":"S. Olakojo, A. Onanuga, Olaronke T. Onanuga","doi":"10.5709/ce.1897-9254.43","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.43","url":null,"abstract":"COVID-19 poses an unprecedented threat to components of global business cycles including stock markets, industrial production and employment. This study investigated its impact on stock markets of 24 oil producing COVID-19-hit economies in North America, South America, Europe, Asia, Oceania and Africa. It examined the nature of asymmetry in the business cycles of the sampled countries and the impact of COVID-19 on the asymmetry. Switching regression techniques were estimated with data covering the period from October 1, 2019 to April 14, 2020. The results confirmed the presence of negative asymmetry in stock market cycles in 54.2% of the sampled countries, out of which 38.5%, 46.2% and 15.4% are high, middle and low-middle income countries, respectively. This is significantly connected to the COVID-19 pandemic for 29.2% of the sample. The expected duration of being in the state of low stock market performance, due to COVID-19, reduces with levels of countries’ income, if regimes are dependent. Opposite was observed if regimes are independent. Hence, the negative impact of COVID-19 on stock markets in lower-income countries will linger compared to higher-income countries. Reducing COVID-19-associated risks will go a long way to revive investors’ confidence in the market and help to restart the engine of economic recovery in the sampled countries.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"37 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77235766","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: 3

The Short-Term Impact of COVID-19 on Global Stock Market Indices 新冠肺炎疫情对全球股市指数的短期影响

IF 2.1

Contemporary Economics Pub Date : 2021-02-01 DOI: 10.5709/CE.1897-9254.432

Gurmeet Singh, Muneer Shaik

引用次数: 25

Determinants of Foreign Direct Investment in 31 Asian Countries for the 2002-2017 Period 2002-2017年31个亚洲国家外商直接投资的决定因素

IF 2.1

Contemporary Economics Pub Date : 2020-01-01 DOI: 10.5709/CE.1897-9254.427

Thareeq Adhi Chandra, R. Handoyo

引用次数: 5

Determinants of Banking Efficiency for Commercial Banks in Indonesia 印度尼西亚商业银行银行效率的决定因素

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/ce.1897-9254.308

Heti Suryani Fitri Sulaeman, Sri Mulyantini Moelyono, Jubaedah Nawir

引用次数: 10

Investigating the Influence of Tourism on Economic Growth and Climate Change – The Case of Croatia 调查旅游业对经济增长和气候变化的影响——以克罗地亚为例

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/CE.1897-9254.302

Z. Grdić, M. Gregorić, M. Nižić

{"title":"Investigating the Influence of Tourism on Economic Growth and Climate Change – The Case of Croatia","authors":"Z. Grdić, M. Gregorić, M. Nižić","doi":"10.5709/CE.1897-9254.302","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.302","url":null,"abstract":"In Croatia, tourism is one of the most important economic activities, accounting for 2.1% of total tourist flows in the European Union and 18% of the total Croatian gross domestic product. Economic development and tourism flows are influenced by the increasing intensity of climate change, leading to a need to adapt to new business conditions to minimize the negative and maximize the positive effects. The objective of the current study is to empirically research the role of tourism in the Croatian economy for the period 2004-2015 and the impact of climate change on tourist flows. To investigate experts’ opinions on the impact of climate change on Croatian tourism, this study employs a qualitative approach to obtain comprehensive insights into tourism, climate change and scientific research. By conducting in-depth interviews with experts and identifying the challenges posed by the current impact of climate change on Croatian tourism, the authors gain deeper insights into tourism development and climate change that reflect the current situation in Croatia. The results indicate that climate change will not have a negative impact on Croatian tourism in the near future. However, after 2050, a number of adaptation measures will be required to maintain the current tourism status.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"2 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85196067","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

Firm Performance and Family Related Directors: Empirical Evidence from an Emerging Market 企业绩效与家族董事:来自新兴市场的经验证据

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/ce.1897-9254.307

H. I. Hussain, A. Ali, Hassanudin Mohd Thas Thaker, Mohsin Ali

{"title":"Firm Performance and Family Related Directors: Empirical Evidence from an Emerging Market","authors":"H. I. Hussain, A. Ali, Hassanudin Mohd Thas Thaker, Mohsin Ali","doi":"10.5709/ce.1897-9254.307","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.307","url":null,"abstract":"Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is the effectiveness of such provisions in the Malaysian business environment that provides the motivation for this paper. The literature shows mixed findings on the issues of board independence and board leadership. Our paper studies the role of directors with family connections and its impact on financial outcomes. We find that firms with a high presence of family related directors exhibit superior accounting profitability. However, such dominance is negatively viewed by the market (firm performance based on market measures), indicating that markets tend to perceive that domination of family members on the board could potentially lead to expropriation of wealth at the expense of other shareholders. Our results are supported by additional robustness tests. The findings provide interesting insights into the governance mechanisms of firms in an emerging market and its consequences for investor perceptions. Further implications are also discussed.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"32 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73027930","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: 21

The Effects of Relative Strength of USD and Overnight Policy Rate on Performance of Malaysian Stock Market – Evidence from 1980 through 2015 美元相对强弱和隔夜政策利率对马来西亚股市表现的影响——1980 - 2015年的证据

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/ce.1897-9254.306

A. Hadi, E. H. Yap, Zalina Zainudin

{"title":"The Effects of Relative Strength of USD and Overnight Policy Rate on Performance of Malaysian Stock Market – Evidence from 1980 through 2015","authors":"A. Hadi, E. H. Yap, Zalina Zainudin","doi":"10.5709/ce.1897-9254.306","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.306","url":null,"abstract":"The study is carried out with the objective of testing the efficient market hypothesis (EMH) at the semistrong form level. As such, the study employs two publicly available data variables – the exchange rate (RM/USD) and short-term interest rate as proxied by the overnight policy rate (OPR). The extent to which these variables influenced the performance of Bursa Malaysia (KLCI) over the past 35 years, from January 1980 to June 2015, is examined. Using monthly data, the entire study period is divided into three subperiods – the full sample period, the sample period that excludes the duration of capital control and the sample period of FBMKLCI (from July 2009 to June 2015). Deploying the Johansen-Juselius cointegration test, the study shows the presence of a long-run equilibrium relationship between KLCI and the two control variables over the full sample period and sample period, excluding the period of capital control. From the long-run regression, the effect of OPR on Bursa Malaysia is consistent over all three subperiods. This is a clear indication that the interest rate regime has a significant influence on Bursa Malaysia. Interestingly, there is no equilibrium relationship, and dynamic relationships exist between FBMKLCI and the two explanatory variables over the FBMKLCI sample period. These findings support our notion that Bursa Malaysia is unquestionably semistrong form efficient. It is now evident that FBMKLCI is the most exogenous variable of all.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"126 2 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91054506","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

Salvaging the EU: Two-Speed or Dual-Track Reform? 拯救欧盟:双速还是双轨改革?

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/ce.1897-9254.304

S. Rosefielde

{"title":"Salvaging the EU: Two-Speed or Dual-Track Reform?","authors":"S. Rosefielde","doi":"10.5709/ce.1897-9254.304","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.304","url":null,"abstract":"In the most recent decade, the European Union has shown itself to be less robust than globalists imagined. Globalists believed that supranationality was weatherproof – that it would always outperform national alternatives and would survive adversity. Economic stagnation and Brexit belied these expectations. This essay investigates one aspect of the EU’s supranational plight: incompatible goals and the difficulty of mutual accommodation, especially during hard times. EU supranationalists contend that the shared dreams assure harmonious results, but experience reveals that supranational government is shakier than advocates claim because shared ideals and benefits have not been enough for members to put aside conflicting national interests. These rivalries do not doom the European Union’s globalizing project, but they do expose the vulnerabilities of its premises. Supranational union is proving to be unsatisfactory to both many centralizers demanding “more Europe” and decentralizers insisting on “less Europe”. EU leaders are aware of the problem but are wedded to a one-track, two-speed supranational approach that is destined to fail. A dual-track supranational solution analogous to China’s “one country, two systems” offers a better alternative.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"27 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85143964","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

Growth Dynamics of Value-Added Tax Revenue in Ghana 加纳增值税收入增长动态分析

IF 2.1

Contemporary Economics Pub Date : 2019-06-30 DOI: 10.5709/CE.1897-9254.305

F. Andoh, N. Osoro, E. Luvanda

引用次数: 3