Borsa Istanbul Review最新文献_第2页

Tackling financialization amidst rising labor cost in China 在中国劳动力成本上升的背景下应对金融化问题

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.010

Zhuo-Ya Du , Qian Wang

引用次数: 0

A Pandemic's grip: Volatility spillovers in Asia-Pacific equity markets during the onset of Covid-19 大流行病的影响：Covid-19 爆发期间亚太股票市场的波动溢出效应

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.001

{"title":"A Pandemic's grip: Volatility spillovers in Asia-Pacific equity markets during the onset of Covid-19","authors":"","doi":"10.1016/j.bir.2024.05.001","DOIUrl":"10.1016/j.bir.2024.05.001","url":null,"abstract":"<div><p>The emergence of Covid-19 in late 2019 rapidly shattered the Asia-Pacific region (APR), a bastion of economic dynamism, and it became the epicenter of the global health crisis. This unprecedented pandemic not only triggered a public health catastrophe but also unleashed a financial storm, exposing vulnerability within the region's interconnected economies. This study identifies the factors driving volatility spillovers within Asian-Pacific financial markets during the initial wave of the Covid-19 pandemic (January 2020–February 2021). We analyze the interplay of pandemic transmission dynamics, government interventions, central bank policies, and socioeconomic variables. Our findings reveal a robust and persistent association between the rising number of Covid-19 cases per million and volatility spillovers. We introduce three novel determinants—the number of intensive care unit beds, population density, and the proportion of the elderly population—which significantly impact volatility transmission in response to new cases. Stringent government measures, such as travel bans and lockdowns, mitigate volatility spillovers. Conversely, central bank policies increase volatility spillovers. These insights contribute to a deeper understanding of financial market dynamics in the context of global health emergencies. This knowledge equips policy makers in the APR with valuable tools for navigating future crises.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 898-907"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000802/pdfft?md5=fc0f29fe0a558736f92ff346729dcabf&pid=1-s2.0-S2214845024000802-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141046877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asset allocation models for big tech stocks: The importance of lower partial moments and short length windows 大型科技股的资产配置模型：下局部矩和短窗口的重要性

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.006

引用次数: 0

Is democracy costly? The effect of political turmoil on Kuwait’s stock market 民主代价高昂吗？政治动荡对科威特股市的影响

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.009

引用次数: 0

Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia 揭示马来西亚女性董事特质、所有权集中度和综合报告战略之间的联系

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.012

{"title":"Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia","authors":"","doi":"10.1016/j.bir.2024.05.012","DOIUrl":"10.1016/j.bir.2024.05.012","url":null,"abstract":"<div><p>In response to the reform in the Malaysian market that requires all publicly listed companies (PLCs) to have at least one female director on the board, this study examines how female directors’ attributes (FDAs) shape integrated reporting quality (IRQ) and assesses the potential influence of substantial shareholders on the FDA–IRQ nexus. Using all Malaysian PLCs implementing the integrated reporting from 2017 to 2021, our analysis yields four key findings. First, a positive relationship exists between the presence of a Muslim female director and IRQ. Second, female directors with financial expertise and those with higher education positively impact IRQ. Third, the holding of multiple directorships by female directors is negatively linked to IRQ, and the length of their tenure shows no significant effect. Fourth, the relationship between FDAs and IRQ is more pronounced in contexts with a greater ownership concentration. These results remain robust after rigorous analysis and mitigating for potential biases. Our findings offer valuable insights for policymakers, practitioners, and researchers interested in understanding the implications of gender diversity and IRQ in emerging markets.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 1031-1045"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000917/pdfft?md5=ad40d74dd7d2ca467791b40a63610ed2&pid=1-s2.0-S2214845024000917-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141532053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Market- and future-level sentiment and futures returns in Chinese agricultural futures markets 中国农产品期货市场的市场情绪和期货收益

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.03.008

引用次数: 0

Unveiling the impact of firm-characteristics on sustainable development goals disclosure: A cross-country study on non-financial companies in Asia 揭示公司特征对可持续发展目标披露的影响：亚洲非金融企业跨国研究

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.003

{"title":"Unveiling the impact of firm-characteristics on sustainable development goals disclosure: A cross-country study on non-financial companies in Asia","authors":"","doi":"10.1016/j.bir.2024.05.003","DOIUrl":"10.1016/j.bir.2024.05.003","url":null,"abstract":"<div><p>This study examines the practices of the UN Sustainable Development Goals (SDGs) in Asian countries with special reference to listed firms in China, India, Indonesia, Japan, Malaysia, Singapore, and Saudi Arabia. Further, it evaluates the impact of firms’ specific factors on SDGs practices. The original sample consists of 1462 companies for the 2018–2021 financial years. Data are extracted from the Refinitiv Eikon Database. One-way ANOVA and regression analysis are used to estimate the data. Results reveal that there is a significant difference in SDGs practices among the elected countries. Moreover, results reveal that Return on Assets (ROA), Return on Equity (ROE), market value added, leverage, and current ratio have a negative and significant impact on SDGs practices, while the Earnings per Share (EPS) has a positive and significant impact on SDGs practices. This research contributes to the existing literature by making a comparison among the Asian largest economies regarding the achievement of UN sustainable development goals.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 916-933"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000826/pdfft?md5=094133c3afc5c2c2891b45c55304c275&pid=1-s2.0-S2214845024000826-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141038968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Shareholding control, ownership concentration, and the value of the Brazilian firm 股权控制、所有权集中度和巴西企业的价值

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.008

{"title":"Shareholding control, ownership concentration, and the value of the Brazilian firm","authors":"","doi":"10.1016/j.bir.2024.05.008","DOIUrl":"10.1016/j.bir.2024.05.008","url":null,"abstract":"<div><p>The study analyzes whether the type of shareholding control (dispersed, shared, or dominant) affects agency conflicts by investigating the relationship between shareholding control, ownership concentration, and firm value. The sample is a panel data comprising 1977 firm-year observations from 167 Brazilian firms in the period 2010–2022. Our results show that shared control creates value, whereas dominant control destroys firm value. Voting rights concentration and cash-flow rights reduce the value of firms with dispersed and shared control. However, at firms with dominant control, these firm characteristics increase firm value. Excess voting rights, in turn, destroy the value of firms with shared and dominant control. Our evidence shows that the type of shareholding control influences the nature and magnitude of agency conflicts and the relationship between ownership concentration and firm value. Thus, within an institutional environment, agency conflicts may differ among firms, depending on the type of shareholding control.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 984-995"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000875/pdfft?md5=fdfa23fbf1bd390b92262252c3ac2967&pid=1-s2.0-S2214845024000875-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141139561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Financial literacy among Chinese rural households and its impact on stock-market participation 中国农村家庭的金融知识及其对股市参与的影响

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.011

Min Zhao , Ya Dai , Haiyang Chen , Zheng Li

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引用次数: 0

ESG activities and financial stability: The case of Korean financial firms 环境、社会和公司治理活动与金融稳定性：韩国金融公司的案例

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.007

引用次数: 0