Borsa Istanbul Review最新文献_第9页

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

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

{"title":"Financial literacy among Chinese rural households and its impact on stock-market participation","authors":"Min Zhao , Ya Dai , Haiyang Chen , Zheng Li","doi":"10.1016/j.bir.2024.05.011","DOIUrl":"10.1016/j.bir.2024.05.011","url":null,"abstract":"<div><p>This study explores financial literacy (FL) and its influence on market participation among rural residents in China. Using the 2017 China Household Finance Survey, we find that rural residents have low FL and answer only 33% of basic and 20.8% of advanced questions on average. The findings indicate a substantial disparity in their FL skills. The ordinary least squares regression results reveal that advanced FL is statistically positively related to market participation. To mitigate endogeneity concerns, we adopt the instrument variable estimator within the generalized method of moment (IV-GMM). The IV-GMM results indicate that FL positively affects the market participation of Chinese rural households. The probability of market participation increases by over 7% with every unit increase in advanced FL scores. Additionally, the robustness tests confirm the positive correlation between advanced FL and market participation. Furthermore, the impact of FL on stock-market participation is more pronounced among rural residents in economically developed regions and those with greater financial assets.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 1019-1030"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000905/pdfft?md5=c244412a04a4c3344aa9c83bcc6a4312&pid=1-s2.0-S2214845024000905-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142151995","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

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

The crowding-out effect of government debt: A loan financing-based perspective 政府债务的挤出效应：基于贷款融资的视角

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.06.002

引用次数: 0

From bytes to sustainability: Asymmetric nexus between industrial artificial intelligence and green finance in advanced industrial AI nations 从字节到可持续性：先进工业人工智能国家的工业人工智能与绿色金融之间的不对称关系

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.03.010

{"title":"From bytes to sustainability: Asymmetric nexus between industrial artificial intelligence and green finance in advanced industrial AI nations","authors":"","doi":"10.1016/j.bir.2024.03.010","DOIUrl":"10.1016/j.bir.2024.03.010","url":null,"abstract":"<div><p>The integration of artificial intelligence in industry and the adoption of green finance emphasizing environmental sustainability through technology has become increasingly prominent. This article scrutinizes the asymmetric nexus between industrial artificial intelligence and green finance in the top ten countries leading in industrial artificial intelligence (China, USA, South Korea, Germany, Japan, Canada, UK, Australia, France, and Italy). Preceding studies applied panel data approaches to examine the industrial artificial intelligence-green finance nexus without considering that not all countries had established such a connection autonomously. Conversely, this paper implements a distinctive approach, ‘Quantile-on-Quantile’, which offers both worldwide and nation-specific foresight into the correlation of the variables. The results demonstrate that industrial artificial intelligence increases green finance at specific segments of the data distribution across diverse economies. These outcomes underscore policymakers’ need to approach the development and enactment of policies regarding industrial artificial intelligence and green finance with careful attention and thoughtful deliberation.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 886-897"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000516/pdfft?md5=048b2b7bc04a0f6d418cad2b374d1565&pid=1-s2.0-S2214845024000516-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140271347","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

Exploring the moderating effect of regulatory quality on the relationship between financial development and economic growth/economic volatility for developed and developing countries 探索发达国家和发展中国家监管质量对金融发展与经济增长/经济波动之间关系的调节作用

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.04.015

{"title":"Exploring the moderating effect of regulatory quality on the relationship between financial development and economic growth/economic volatility for developed and developing countries","authors":"","doi":"10.1016/j.bir.2024.04.015","DOIUrl":"10.1016/j.bir.2024.04.015","url":null,"abstract":"<div><p>This study examines the moderating effect of regulatory quality on the relationship between financial development and economic growth/economic volatility. We employ the Panel Corrected Standard Error estimation method, supplemented by a robustness check using the Generalized Method of Moments. Our findings offer interesting insights into the relationship between financial development and outcomes for the economy. In developed countries, regulatory quality positively moderates the relationship between banking-based financial development and economic growth. Hence, policymakers should prioritize the maintenance of a high-quality institutional and regulatory environment conducive to both banking-based and market-based growth. Continual efforts to enhance regulatory quality and adopt robust approaches are imperative. Conversely, this study does not detect a significant moderating effect of regulatory quality on the relationship between financial development and economic growth in developing countries. Policymakers in these contexts must accelerate efforts to bolster institutional and regulatory frameworks, emphasizing the enhancement of regulatory quality. Care should be taken to avoid overly stringent regulations, particularly at lower levels of financialization, to prevent potential counter-productivity. Instead, a gradual approach to improving regulatory quality is advisable. Furthermore, policymakers should recognize that regulatory quality mitigates the contribution of banking-based financial development to economic volatility, a phenomenon observed in both developed and developing countries.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 934-944"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000784/pdfft?md5=734b8220c58ae353a9c2a8228a9c5bb5&pid=1-s2.0-S2214845024000784-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141045689","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

The influence of foreign direct investment on banking stability in a dual banking system during the COVID-19 pandemic and the global financial crisis 在 COVID-19 大流行和全球金融危机期间，外国直接投资对二元银行体系中银行业稳定性的影响

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.06.001

引用次数: 0

The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector 金融业员工体验与员工参与度之间的关系及积极情感的调节作用

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-09-01 DOI: 10.1016/j.bir.2024.05.002

{"title":"The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector","authors":"","doi":"10.1016/j.bir.2024.05.002","DOIUrl":"10.1016/j.bir.2024.05.002","url":null,"abstract":"<div><p>Employee experience refers to the entire journey of an employee within an organization, encompassing interactions from pre-employment to post-employment. In order to gain and maintain a sustainable competitive edge, organizations should incorporate human-centered design and prioritize employee experience in their organizational reforms, taking into account employees' emotions, ambitions, and expectations. This study aims to provide a clearer and operationalized understanding of the employee experience concept and empirically examines its relationship with employee engagement, considering the moderating role of positive affect - a state of pleasant feelings and moods that people often experience in business life-. Data was collected from 1347 employees in the finance sector of Türkiye, revealing that employee experience consists of dimensions such as manager support and collaboration, organizational identification and development, and career-focused human resource (HR) practices. These dimensions are positively associated with employee engagement. The study also examines the moderating role of the employees'positive affect on the relationship between these constructs. Policy implications of the findings are discussed.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 5","pages":"Pages 908-915"},"PeriodicalIF":6.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000814/pdfft?md5=2deb6a677c78543515432815fc274189&pid=1-s2.0-S2214845024000814-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141049450","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

Modeling sovereign credit default swaps volatility at different tenures: An application for Latin American countries 不同期限的主权信用违约掉期波动建模：拉丁美洲国家的应用

IF 6.3 2区经济学

Borsa Istanbul Review Pub Date : 2024-07-01 DOI: 10.1016/j.bir.2024.04.008

Fredy Gamboa-Estrada , José Vicente Romero

引用次数: 0