发布求助
文献互助 智能选刊 最新文献

Emerging Markets Review最新文献

筛选
英文 中文
Does foreign demand affect corporate financialization? Some evidence from China
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-03 DOI: 10.1016/j.ememar.2024.101232
Tayier Tudi , Ji Wu , Minghua Chen , Bang Nam Jeon
{"title":"Does foreign demand affect corporate financialization? Some evidence from China","authors":"Tayier Tudi ,&nbsp;Ji Wu ,&nbsp;Minghua Chen ,&nbsp;Bang Nam Jeon","doi":"10.1016/j.ememar.2024.101232","DOIUrl":"10.1016/j.ememar.2024.101232","url":null,"abstract":"<div><div>We investigate whether foreign demand influences corporate financialization using data from over 1700 Chinese non-financial firms during 2007–2016. Our findings consistently reveal a negative relationship, indicating that firms increase their financial asset holdings and more actively engage in financial transactions when foreign demand declines, and vice versa when foreign demand rises. Foreign demand shapes firms' financialization by influencing their returns from real investments and financial constraints. Furthermore, we explore heterogeneous impacts of foreign demand across different financial assets, industries, and indebtedness levels in firms.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101232"},"PeriodicalIF":5.6,"publicationDate":"2024-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165492","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
Combating the rent-seeking among enterprises in China's emissions trading system
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-30 DOI: 10.1016/j.ememar.2024.101233
Changyu Liu, Jia Sun, Luhang Zheng, Renkui Zhu
{"title":"Combating the rent-seeking among enterprises in China's emissions trading system","authors":"Changyu Liu,&nbsp;Jia Sun,&nbsp;Luhang Zheng,&nbsp;Renkui Zhu","doi":"10.1016/j.ememar.2024.101233","DOIUrl":"10.1016/j.ememar.2024.101233","url":null,"abstract":"<div><div>Enterprises engage in rent-seeking with third-party verification authorities (TPs) falsify carbon data has seriously distorted the order of emissions trading system (ETS). Methods of effectively regulating rent-seeking in ETS remain unclear. Based on the analysis of the formation mechanisms of rent-seeking, a tripartite evolutionary game is constructed to explore the interactive behavior of enterprises, TPs, and governments. The important factors affecting the players' behavior were verified using simulation. The results revealed the following: 1) there is a significant correlation between the probability of rent-seeking, probability of acceptation by TPs and the probability of active supervision. 2) based on the evolutionary stability strategy in the game, two kinds of governance mode of rent-seeking are proposed, the market-oriented mode is more efficient than government-led mode; 3) the initial willingness of the tripartite stakeholders, relaxed cost, the penalties for rent-seeking, and the rewards were determined to be critical factors that influence evolutionary results. Finally, the practical countermeasures are recommended to strengthen the collaborative governance of ETS.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101233"},"PeriodicalIF":5.6,"publicationDate":"2024-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165493","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
How bilateral investment treaties affect cross-border mergers and acquisitions: Novel evidence from China's internationalization
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-30 DOI: 10.1016/j.ememar.2024.101235
Yonghui Han , Hao Cheng , Hao Wang
{"title":"How bilateral investment treaties affect cross-border mergers and acquisitions: Novel evidence from China's internationalization","authors":"Yonghui Han ,&nbsp;Hao Cheng ,&nbsp;Hao Wang","doi":"10.1016/j.ememar.2024.101235","DOIUrl":"10.1016/j.ememar.2024.101235","url":null,"abstract":"<div><div>Utilizing a comprehensive dataset of China and 127 host economies from 2004 to 2019 at both national level and firm level, we investigate how bilateral investment treaties (BITs) between China and global economies affect China's outbound cross-border mergers and acquisitions (CBMA). Our results demonstrate a positive effect of BITs on CBMA and such a promoting effect varies across host countries with different institutional and economic settings. While the most-favored-nation clause and umbrella clause are the underlying mechanisms accounting for the incentives of CBMA in the stage of pre-acquisitions, the expropriation and compensation clause drives the successful rate of CBMA. Further, non-state-owned enterprises display stronger incentive than state-owned enterprises.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101235"},"PeriodicalIF":5.6,"publicationDate":"2024-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165490","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
(Un)risky commitments (联合国)风险的承诺
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101230
Jamila Abubakar, Ahmet F. Aysan, Mustafa Disli
{"title":"(Un)risky commitments","authors":"Jamila Abubakar,&nbsp;Ahmet F. Aysan,&nbsp;Mustafa Disli","doi":"10.1016/j.ememar.2024.101230","DOIUrl":"10.1016/j.ememar.2024.101230","url":null,"abstract":"<div><div>There is increasing concern regarding how uncertainty influences the demand for commitment devices, especially due to the complexity it introduces into the decision-making environment while activating risk preferences. This study examines how the proportion of automated transactions varies on a Nigerian FinTech platform, given exposure to uncertainty and individual risk aversion in two distinct risk-level environments. One environment is risk-free, while the other is characterised by uncertainty about future outcomes. Our findings support the hypothesis that risk aversion varies inversely with the demand for commitment, specifically among low and medium-risk groups. Additionally, we find significant differences in the behaviour of women and the influence of interest rates on automation between the certainty and uncertainty domains. Our findings suggest that behavioural variations across decision environments are influenced by both platform choice sets and potential exogenous factors that may affect income and wealth after automating transactions.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101230"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743782","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
Perceived risks of financial misconduct and fintech in crowdfunding of Vietnamese individual investors 越南个人投资者众筹中金融不端行为和金融科技的感知风险
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101229
Anh The Khuc , Phuong Thi Hoai Nguyen , Manh Cuong Nguyen , Ha Thu Le
{"title":"Perceived risks of financial misconduct and fintech in crowdfunding of Vietnamese individual investors","authors":"Anh The Khuc ,&nbsp;Phuong Thi Hoai Nguyen ,&nbsp;Manh Cuong Nguyen ,&nbsp;Ha Thu Le","doi":"10.1016/j.ememar.2024.101229","DOIUrl":"10.1016/j.ememar.2024.101229","url":null,"abstract":"<div><div>Crowdfunding is a method of funding a project or venture by collecting small amounts of money from a large number of people – typically via the Internet – which presents both opportunities for financial inclusion and risks to financial consumers. This study aimed to investigate the influence of perceived risks of financial misconduct and fintech on the intentions of individual investors to participate in crowdfunding. The authors employed a quantitative method to gather approximately 900 survey responses, which were subsequently collated for further analysis. The findings indicate that the perceived risk of financial misconduct is a second-order factor that is reflected by four first-order factors: credibility risk, market risk, asymmetric information risk, and financial risk. Similarly, the perceived risk of fintech is a second-order factor that is reflected by three first-order factors: security risk, time-consuming risk, and expense risk. The study reveals that the perceived risk of financial misconduct negatively affects the intention to participate in crowdfunding, while the perceived risk of fintech positively influences the intention to participate. Additionally, the perceived risk of fintech also positively impacts the perceived risk of financial misconduct. Based on these research results, this study proposes policy implications for project owners, investors and regulatory agencies to enhance the quality of crowdfunding platforms. These recommendations aim to protect users from threats and risks associated with using these platforms, thereby improving the overall effectiveness and safety of the crowdfunding environment.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101229"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142744062","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 party organization embeddedness boost corporate environmental performance? 党组织的嵌入性是否促进了企业的环境绩效？
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101228
Xiaoxia Li, Xingye Tao, Jinhua Xu, Jiahua Lin
{"title":"Does party organization embeddedness boost corporate environmental performance?","authors":"Xiaoxia Li,&nbsp;Xingye Tao,&nbsp;Jinhua Xu,&nbsp;Jiahua Lin","doi":"10.1016/j.ememar.2024.101228","DOIUrl":"10.1016/j.ememar.2024.101228","url":null,"abstract":"<div><div>In contrast to corporations in other countries, the role that party organizations play in Chinese firms is distinctly unique. This paper presents empirical evidence of a positive effect of party organization embeddedness on corporate environmental performance. This effect is particularly pronounced for firms operating in regulated industries and those with a stronger cultural system of environmental protection. The study also reveals that the embedding of party organization enhances corporate environmental performance through reducing agency costs and increasing access to environmental subsidies. Overall, this paper emphasizes the importance of the unique arrangement of corporate party organizations in China and provides policy implications for improving the distinct Chinese corporate governance system, promoting green development, and advancing ecological civilization.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101228"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743781","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
Unintended consequences: Examining the effects of government digital regulation on corporate fintech innovation in China 意想不到的后果：考察政府数字监管对中国企业金融科技创新的影响
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-19 DOI: 10.1016/j.ememar.2024.101221
Weijie Tan , Qiuyu Tang , Wanting Sun , Xuanyu Du
{"title":"Unintended consequences: Examining the effects of government digital regulation on corporate fintech innovation in China","authors":"Weijie Tan ,&nbsp;Qiuyu Tang ,&nbsp;Wanting Sun ,&nbsp;Xuanyu Du","doi":"10.1016/j.ememar.2024.101221","DOIUrl":"10.1016/j.ememar.2024.101221","url":null,"abstract":"<div><div>In the financial sector, government digital regulation significantly influences the development of financial technology (fintech), yet it has not been sufficiently studied. This research leverages patent text data from A-share listed companies in China from 2011 to 2021 and digital administrative penalty information from various cities, utilizing machine learning techniques to measure enterprise fintech innovation and city-level digital regulation indicators. Grounded in institutional theory, this study investigates the impact of government digital regulation on enterprise fintech innovation and its underlying mechanisms. The findings suggest that government digital regulation impedes enterprise fintech innovation, as it heightens the overall external environmental risks and increases internal operational burdens for enterprises. Heterogeneity analysis shows that this inhibitory effect is more pronounced in private enterprises, firms with stronger financial stability, and high-tech companies. Furthermore, significant differences exist across various dimensions of digital regulation and fintech innovation. Nonetheless, the study also finds that the synergistic development between government digital regulation and enterprise fintech innovation can produce positive governance outcomes, thereby fostering fintech innovation.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101221"},"PeriodicalIF":5.6,"publicationDate":"2024-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142705213","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
ESG disclosure quality and cost of debt ESG 披露质量和债务成本
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-15 DOI: 10.1016/j.ememar.2024.101219
Xianghua You , Can Chen , Ke Peng , Yubin Li
{"title":"ESG disclosure quality and cost of debt","authors":"Xianghua You ,&nbsp;Can Chen ,&nbsp;Ke Peng ,&nbsp;Yubin Li","doi":"10.1016/j.ememar.2024.101219","DOIUrl":"10.1016/j.ememar.2024.101219","url":null,"abstract":"<div><div>This study reveals a negative correlation between the quality of ESG (Environmental, Social, and Governance) disclosure and the cost of debt financing among Chinese listed companies from 2011 to 2020. Furthermore, this relationship is only significant for non-SOE firms, firms in areas with higher marketization level, firms with lower accounting transparency, firms voluntarily publishing social responsibility reports, or firms operating in non-high-pollution industries. These results are robust to a series of tests including two-stage regressions based on instrumental variable and alternative measures of disclosure quality based on textual analyses.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101219"},"PeriodicalIF":5.6,"publicationDate":"2024-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142722667","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
From framing to priming: How does media coverage promote ESG preferences of institutional investors 从框架到引导：媒体报道如何促进机构投资者的环境、社会和治理偏好
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-07 DOI: 10.1016/j.ememar.2024.101220
Geling Li , Kangjun Ren , Yuhao Qiao , Bao Wu
{"title":"From framing to priming: How does media coverage promote ESG preferences of institutional investors","authors":"Geling Li ,&nbsp;Kangjun Ren ,&nbsp;Yuhao Qiao ,&nbsp;Bao Wu","doi":"10.1016/j.ememar.2024.101220","DOIUrl":"10.1016/j.ememar.2024.101220","url":null,"abstract":"<div><div>How media coverage influences the ESG preferences of institutional investors remains an unsettled issue. We tackle this issue based on a framing-to-priming framework. By analyzing a dataset of 22,941 observations from Chinese listed firms from 2012 to 2021, we find that positive media coverage attracts institutional investors with inherent ESG preferences to invest in the firm, whereas negative media coverage discourages their investment. It implies that a screening process underpins the institutional investors' ESG preferences. Moreover, our findings indicate that analyst attention and public attention play pivotal mediating roles in the relationship between media coverage and institutional investors' ESG preferences.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"63 ","pages":"Article 101220"},"PeriodicalIF":5.6,"publicationDate":"2024-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142651912","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
Disruptive technology and audit risks: Evidence from FTSE 100 companies 颠覆性技术与审计风险：来自富时 100 指数公司的证据
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-10-26 DOI: 10.1016/j.ememar.2024.101218
Marwa Elnahass , Xinrui Jia , Louise Crawford
{"title":"Disruptive technology and audit risks: Evidence from FTSE 100 companies","authors":"Marwa Elnahass ,&nbsp;Xinrui Jia ,&nbsp;Louise Crawford","doi":"10.1016/j.ememar.2024.101218","DOIUrl":"10.1016/j.ememar.2024.101218","url":null,"abstract":"<div><div>We investigate the use of disruptive technology on the level of audit risk, within both companies and audit firms. A sample of FTSE 100 and their corresponding audit firms—specifically, the ‘Big 4’—are selected for the period 2015 to 2020. Our findings indicate that the utilisation of disruptive technology results in a significant reduction in audit risk for both companies and audit firms. Disruptive technology seems to promote benefits to companies and audit firms by significantly mitigating the risk of material misstatements (i.e. inherent and control risk) and detection risk; these results are consistent across various industry classifications.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"63 ","pages":"Article 101218"},"PeriodicalIF":5.6,"publicationDate":"2024-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142555043","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
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信