International Journal of Finance & Economics最新文献_第9页

Does Financial Development Explain the Industrialization of Great Lakes Countries? A Multidimensional Approach 金融发展能解释大湖国家的工业化吗?多维方法

IF 2.9 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-12 DOI: 10.47941/ijf.1350

Rutazihana Pascal Ndyanabo, G. A. Muluh, Tiwang Gildas Ngueuleweu

{"title":"Does Financial Development Explain the Industrialization of Great Lakes Countries? A Multidimensional Approach","authors":"Rutazihana Pascal Ndyanabo, G. A. Muluh, Tiwang Gildas Ngueuleweu","doi":"10.47941/ijf.1350","DOIUrl":"https://doi.org/10.47941/ijf.1350","url":null,"abstract":"Purpose: The objective of this study is to analyze the effects of financial development on the industrialization of countries in the Great Lakes region. To this effect, we use data from secondary sources mainly from the World Bank databases covering the period 1985 to 2020. \u0000Methodology: The methodology was based on the Feasible Generalized Least Squares and Autoregressive Distributed Lag model as an estimation technique. \u0000Results: The results show that financial development through domestic credit granted to economies, negatively influences the industrialization of Great Lakes countries. This effect is true for the quality of institutional and the total rent of natural resources. In addition, the rate of trade openness, human capital, and private investment have a positive and significant effect on the industrial process of the countries of the region under examination. \u0000Unique Contribution to Theory, Policy and Practice: For the financial system to be sufficiently robust and contribute to the process of industrialisation in the region, it is necessary to strengthen positive financial sector reforms appropriately, improve the business climate to enhance private sector participation in industrial transformation, strengthen the accountability and effectiveness of governments in the region and, most importantly, mitigate the effects of war by ensuring long-term political stability to promote better governance structures for industrial development.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"4 2","pages":""},"PeriodicalIF":2.9,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72601374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Twitter-based uncertainty and stock market returns: Evidence from G7 countries 基于 Twitter 的不确定性与股市回报：来自 G7 国家的证据

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-05 DOI: 10.1002/ijfe.2858

Merve Coskun, Nigar Taspinar

{"title":"Twitter-based uncertainty and stock market returns: Evidence from G7 countries","authors":"Merve Coskun, Nigar Taspinar","doi":"10.1002/ijfe.2858","DOIUrl":"10.1002/ijfe.2858","url":null,"abstract":"The aim of this study is to investigate the impact of Twitter-based economic uncertainty (TEU) and Twitter-based market uncertainty (TMU) on G7 stock returns in the challenging year in which the COVID-19 pandemic began (2020) under different stock market conditions (bearish, normal, and bullish). To this aim, this study applies novel quantile-based approaches, namely Quantile autoregression unit root test, Quantile-on-quantile approach, and Quantile Granger-causality test covering the period from 01 January 2020 to 15 September 2020. Main findings of the study are (1) G7 stock return series are stationary for all quantiles of the conditional distributions with minor exceptions meaning that shocks have temporary effects on stock returns of G7 markets. (2) The impact of Twitter-based uncertainty strongly depends on the market condition, whether it is bullish or bearish for all G7 markets. A heterogeneous association exists between variables caused by different market conditions. (3) A bi-directional causal association exists between stock returns-TEU and stock returns-TMU. This result confirms the existence of feedback hypothesis between G7 stock returns and TEU, TMU, respectively. This study provides important policy implications and recommendations for policy makers and investors on the nexus between Twitter-based uncertainties and stock returns.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"29 4","pages":"3840-3860"},"PeriodicalIF":2.8,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131868640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asymmetric persistence in Turkish interest and inflation rates: New evidence from quantile unit root test with structural shifts 土耳其利率和通货膨胀率的非对称持续性：带有结构转变的量子单位根检验的新证据

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-05 DOI: 10.1002/ijfe.2855

Saban Nazlioglu, Sinem Pinar Gurel, Sevcan Gunes, Cagin Karul

引用次数: 0

The isotropy of cryptocurrency volatility 加密货币波动的各向同性

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-04 DOI: 10.1002/ijfe.2857

Aiman Hairudin, Azhar Mohamad

{"title":"The isotropy of cryptocurrency volatility","authors":"Aiman Hairudin, Azhar Mohamad","doi":"10.1002/ijfe.2857","DOIUrl":"10.1002/ijfe.2857","url":null,"abstract":"We examine the fractal volatility and long-range dependence of Bitcoin, Ethereum, Tether and USD Coin by employing the continuous wavelet transform, maximal overlap discrete wavelet transform and rescaled range. Our dataset consists of daily prices spanning from January 2017 through to October 2022, encapsulating pre- and post-epidemic eras. Generally, our findings suggest that Tether presents the least overall volatility throughout the time-frequency spectrum. USD Coin demonstrates ephemeral turbulence, contrary to Tether's maturity in influencing market equilibrium through token issuance and trade responses. In the post-epidemic sample, both stablecoins indicate mean reversion, with USD Coin showing marginally better efficiency. Conversely, investment tokens display persistent clusters due to retail traders and long-term fundamental institutions. Although both tokens illustrate multifractal volatility, Ethereum unveils more essence of self-similarity than Bitcoin. Hence, there is no evidence that Ethereum truly duplicates Bitcoin since policy-related events differ between them, as both return series move incongruously. Conditional dynamics signify that all cryptocurrencies, except Tether, were affected by the pandemic transition of COVID-19 and subsequent macroeconomic news. The unconditional volatility of stablecoins evinces zero-mean errors, antithetical to investment tokens exhibiting annual cycles. The fractal geometry suggests that investment tokens simulate one-dimensional lines, whereas stablecoins mimic two-dimensional planes.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"29 3","pages":"3779-3810"},"PeriodicalIF":2.8,"publicationDate":"2023-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121672027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Capital flow deflection under the magnifying glass 放大镜下的资本流动偏转

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-04 DOI: 10.1002/ijfe.2847

Filippo Gori, Etienne Lepers, Caroline Mehigan

引用次数: 0

Cryptocurrencies in an uncertain world: Comprehensive insights from a wide range of uncertainty indices 不确定世界中的加密货币：从各种不确定性指数中得出的全面见解

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-07-04 DOI: 10.1002/ijfe.2860

Ngo Thai Hung, Toan Luu Duc Huynh, Muhammad Ali Nasir

引用次数: 0

Mobile Banking and Technical Efficiency of Commercial Banks in Kenya 肯尼亚移动银行与商业银行技术效率

3区经济学

International Journal of Finance & Economics Pub Date : 2023-06-30 DOI: 10.47941/ijf.1328

Joyce Chepkoech Getugi, Cliff Osoro, Allan Kihara

{"title":"Mobile Banking and Technical Efficiency of Commercial Banks in Kenya","authors":"Joyce Chepkoech Getugi, Cliff Osoro, Allan Kihara","doi":"10.47941/ijf.1328","DOIUrl":"https://doi.org/10.47941/ijf.1328","url":null,"abstract":"Purpose: The financial sector is being revolutionized as a direct result of technological progress, with banks and other financial institutions embracing new technologies to better serve their customers online. Technological developments in the financial sector are simplifying access to financial services. The study set out to dissect the effects of Fintech on Kenya's commercial banking sector. The general objective was to establish the effect of mobile banking on technical efficiency of commercial banks in Kenya. The study was anchored on Theory of Constraint-Induced Innovation. Methodology: The entire study relied on collecting empirical data and evaluating hypothesis in a positivist way. A causal-comparative research design was used in this research. The study targeted population of Seventeen Kenyan commercial banks from the first and second tiers. The analysis relied on secondary sources of information. The gathered quantitative data was analyzed using both descriptive and inferential statistics. Numbers, medians, and standard deviations were used to characterize the data, and frequency distributions were used to determine the sample size. Models for analyzing correlations and regressions are inferential statistics. STATA was used for the data analysis. Findings: The study established that mobile banking has a positive and significant effect on technical efficiency of commercial banks in Kenya. Unique contribution to theory, practice and policy: Commercial banks in Kenya are recommended to improve their mobile banking services in light of the study's findings.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136016475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Cash holdings and corruption prevention commitment: Evidence from the UK 现金持有量与预防腐败承诺：来自英国的证据

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-06-29 DOI: 10.1002/ijfe.2851

Basil Al-Najjar, Ahmed A. Sarhan

{"title":"Cash holdings and corruption prevention commitment: Evidence from the UK","authors":"Basil Al-Najjar, Ahmed A. Sarhan","doi":"10.1002/ijfe.2851","DOIUrl":"10.1002/ijfe.2851","url":null,"abstract":"This study advances the literature in cash holdings in that it empirically examines the impact of corruption prevention commitment (CPC) on the cash holding strategic decisions and how such CPC might interact with cash holdings to affect firm value. We employ a sample of UK non-financial publicly listed firms and our results are of twofold. First, we detect a significant negative relationship between CPC and cash holdings, which is consistent with the expected governance effect of CPC. Second, we find a negative interaction of CPC with cash holdings when investigating cash holdings effect on firm value, suggesting that shareholders consider CPC as an overinvestment in corporate social responsibility (CSR) activity within a strong customer protection framework, such as the UK. Our findings are robust to different econometric estimations and controlling for different explanatory variables. This study offers beneficial perceptions into the notion of sustainability and sustainability standards and their implications on firms financing decisions. Finally, we argue that while this paper investigates the UK context, our results might be applicable to other countries with similar anti-corruption structure as in the UK.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"29 3","pages":"3738-3757"},"PeriodicalIF":2.8,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ijfe.2851","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123647562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Does directors' and officers' liability insurance improve corporate ESG performance? Evidence from China 董事及高管责任保险能否改善企业的环境、社会和治理绩效？来自中国的证据

IF 2.8 3区经济学

International Journal of Finance & Economics Pub Date : 2023-06-25 DOI: 10.1002/ijfe.2849

Songlian Tang, Lingfei He, Fei Su, Xiaoyun Zhou

引用次数: 0

Digital Lending and Technical Efficiency of Commercial Banks in Kenya 肯尼亚商业银行数字借贷与技术效率

IF 2.9 3区经济学

International Journal of Finance & Economics Pub Date : 2023-06-24 DOI: 10.47941/ijf.1321

Joyce Chepkoech Getugi, C. Osoro, Allan S. N. Kihara

{"title":"Digital Lending and Technical Efficiency of Commercial Banks in Kenya","authors":"Joyce Chepkoech Getugi, C. Osoro, Allan S. N. Kihara","doi":"10.47941/ijf.1321","DOIUrl":"https://doi.org/10.47941/ijf.1321","url":null,"abstract":"Purpose: The financial sector is being revolutionized as a direct result of technological progress, with banks and other financial institutions embracing new technologies to better serve their customers online. Technological developments in the financial sector are simplifying access to financial services. The study set out to dissect the effects of Fintech on Kenya's commercial banking sector. The general objective was to establish the effect of digital lending on technical efficiency of commercial banks in Kenya. The study was anchored on Theory of Financial Intermediation. \u0000Methodology: The entire study relied on collecting empirical data and evaluating hypothesis in a positivist way. A causal-comparative research design was used in this research. The study targeted population of Seventeen Kenyan commercial banks from the first and second tiers. The analysis relied on secondary sources of information. The gathered quantitative data was analyzed using both descriptive and inferential statistics. Numbers, medians, and standard deviations were used to characterize the data, and frequency distributions were used to determine the sample size. Models for analyzing correlations and regressions are inferential statistics. STATA was used for the data analysis. \u0000Findings: The study established that digital lending has a positive and significant effect on technical efficiency of commercial banks in Kenya. \u0000Unique contributions to theory, practice and policy: The results suggests that conventional banks might benefit from forming partnerships with FinTech firms that specialize in digital lending.","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"60 1","pages":""},"PeriodicalIF":2.9,"publicationDate":"2023-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84149802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0