Emerging Markets Review最新文献_第5页

The imprint effect of initial institutional environments and bank financing in family businesses 家族企业初始制度环境和银行融资的印记效应

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-10-03 DOI: 10.1016/j.ememar.2024.101213

Chen Cheng, Ke Qiu, Yufan Yang

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引用次数: 0

Fintech competencies in emerging markets: Cognitive hybrid decision-making approach 新兴市场的金融科技能力：认知混合决策方法

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-10-02 DOI: 10.1016/j.ememar.2024.101211

Dadan Rahadian , Anisah Firli , Serhat Yüksel , Hasan Dinçer

引用次数: 0

Evaluation of the space-time effects of Covid-19 on household loans and savings in Romania - A spatial panel data approach at county level 评估 Covid-19 对罗马尼亚家庭贷款和储蓄的时空影响--县级空间面板数据方法

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-30 DOI: 10.1016/j.ememar.2024.101209

Ștefana Belbe , Darie Moldovan , Alin Marius Andrieș , Philipp Otto , Codruța Mare

引用次数: 0

How does Russia's economy affect the region? Transmission channels and policy options 俄罗斯经济如何影响本地区？传播渠道和政策选择

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-29 DOI: 10.1016/j.ememar.2024.101205

Shant Arzoumanian

引用次数: 0

Local official turnover and bank risk-taking: Evidence from China 地方官员更替与银行风险承担：来自中国的证据

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-27 DOI: 10.1016/j.ememar.2024.101208

Siyu Zhang , Rongli Yuan , Yukun Li , Li Chen , Danglun Luo

引用次数: 0

Impact of asymmetry on exchange rate determination: The role of fundamentals 不对称对汇率决定的影响：基本面的作用

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-21 DOI: 10.1016/j.ememar.2024.101206

Levent Korap

引用次数: 0

How do stock markets in emerging economies respond to World Bank loan approvals? 新兴经济体的股票市场如何应对世界银行的贷款审批？

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-15 DOI: 10.1016/j.ememar.2024.101207

Erasmus Kersting, Christopher Kilby

{"title":"How do stock markets in emerging economies respond to World Bank loan approvals?","authors":"Erasmus Kersting, Christopher Kilby","doi":"10.1016/j.ememar.2024.101207","DOIUrl":"10.1016/j.ememar.2024.101207","url":null,"abstract":"<div><p>This paper examines the impact of World Bank loan approvals on equity markets in borrowing countries. We exploit a rich dataset with World Bank loan commitments and daily stock market returns for 47 emerging markets, allowing us to study short run market reactions to news about World Bank programs. These programs fall into three categories: investment projects, structural adjustment loans that tie future macroeconomic reforms to future loan disbursements (prior to FY2006), and development policy loans that reward completed macroeconomic reforms with current loan disbursements (since FY2006). Event study analysis shows positive abnormal stock market returns on the trading day following investment project loan announcements. The effect depends on loan size as well as market characteristics. Structural adjustment loan announcements are followed by negative abnormal returns; development policy loan announcements, in contrast, are considered good news. This suggests that expected macroeconomic implications of policy change in response to loan conditions drive market reactions, and that changes in the conditionality and disbursement structure of World Bank policy lending were successful in improving market reactions to World Bank programs.</p></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"63 ","pages":"Article 101207"},"PeriodicalIF":5.6,"publicationDate":"2024-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142239537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Does environmental information disclosure regulation improve environmental governance? Evidence from China 环境信息披露监管能改善环境治理吗？来自中国的证据

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-13 DOI: 10.1016/j.ememar.2024.101196

Bo Cheng , Xinyang Mao

引用次数: 0

Untangling the finance-growth nexus: The dual role of financial development in the transmission of shocks 解开金融与增长的关系：金融发展在冲击传递中的双重作用

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-07 DOI: 10.1016/j.ememar.2024.101192

Ricardo Montañez-Enríquez , Matias Ossandon Busch , Manuel Ramos-Francia

引用次数: 0

Does share pledging affect corporate sustainability performance? Empirical evidence from an emerging market 股票质押会影响企业的可持续发展绩效吗？新兴市场的经验证据

IF 5.6 2区经济学

Emerging Markets Review Pub Date : 2024-09-07 DOI: 10.1016/j.ememar.2024.101195

Huili Zhang, Yibo Huang, Zhiwei Zou

{"title":"Does share pledging affect corporate sustainability performance? Empirical evidence from an emerging market","authors":"Huili Zhang, Yibo Huang, Zhiwei Zou","doi":"10.1016/j.ememar.2024.101195","DOIUrl":"10.1016/j.ememar.2024.101195","url":null,"abstract":"<div><p>Using data of Chinese A-share firms between 2010 and 2021, this paper examines whether and how share pledging affects corporate environmental, social, and governance (ESG) performance. We find that share pledging by major shareholders reduces corporate ESG performance, and this finding remains robust after various robustness tests, such as addressing endogeneity issues and using alternative measures. We also find that major shareholders' share pledging inhibits ESG performance by exacerbating short-term financial behaviors such as tunneling and earnings management and suppressing sustainable investments such as green innovation, social donations, and internal control. It suggests that firms with share pledging prioritize short-term financial activities and decrease investment in sustainable development. The heterogeneity tests show that investors focusing on long-term development, effective external monitoring, and internal governance could mitigate the negative impact of share pledging on sustainability performance. Furthermore, we find that the negative influence of share pledging on ESG performance occurs mainly in the sample in which the pledged funds are invested in entities other than the focal listed companies. Based on sustainable business development, this paper contributes to the literature on the economic consequences of share pledging. These findings are valuable and motivating for regulators and investors in their decision-making.</p></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"63 ","pages":"Article 101195"},"PeriodicalIF":5.6,"publicationDate":"2024-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142233912","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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