Emerging Markets Review最新文献_第6页

Decentralized finance (literacy) today and in 2034: Initial insights from Singapore and beyond 今天和2034年的去中心化金融（识字）：来自新加坡及其他地区的初步见解

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-10-01 DOI: 10.1016/j.ememar.2025.101378

Daniel Liebau

引用次数: 0

House price co-movement and labor migration: Evidence from China 房价联动与劳动力迁移：来自中国的证据

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-08 DOI: 10.1016/j.ememar.2025.101365

Zhengyi Zhou

引用次数: 0

Credit financing, accounting quality and distress under financial turmoil: Evidence from small partnerships 金融动荡下的信贷融资、会计质量和困境：来自小型合伙企业的证据

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-10 DOI: 10.1016/j.ememar.2025.101368

Panagiotis E. Dimitropoulos

{"title":"Credit financing, accounting quality and distress under financial turmoil: Evidence from small partnerships","authors":"Panagiotis E. Dimitropoulos","doi":"10.1016/j.ememar.2025.101368","DOIUrl":"10.1016/j.ememar.2025.101368","url":null,"abstract":"<div><div>The impact of the recent financial crisis on the financing opportunities and viability of firms has been extensively studied in the literature, with a focus on large, listed corporations. Loss avoidance behavior allows managers to report a more stable income stream, assisting market participants to assess firm prospects. The scope of this study is to examine the impact of loss avoidance and earnings management on the credit financing of small private partnerships within Greece, which is a country that faced a huge backlash on the viability of small businesses. The study collected a sample from 1119 small partnerships which have published abbreviated financial statements over the period 2003–2018. Empirical evidence suggests that firms with higher loss avoidance and discretionary accruals during the sovereign debt crisis period were receiving more credit from their suppliers, a fact that is positively associated with higher viability (lower distress risk). This is the first study in the literature considering loss avoidance behavior and credit financing before and during a debt crisis, within small partnership firms.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"69 ","pages":"Article 101368"},"PeriodicalIF":4.6,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145049414","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

Formal and informal debt in China: Evidence from the 2014 hukou reform 中国的正式和非正式债务：来自2014年户籍改革的证据

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-08 DOI: 10.1016/j.ememar.2025.101367

Lei Xu , Massimiliano Tani , Yu Zhu , Xin Wen

引用次数: 0

Pooling wisdom: The impact of investors' private information transmission on corporate investment efficiency 汇聚智慧：投资者私人信息传递对企业投资效率的影响

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-07-30 DOI: 10.1016/j.ememar.2025.101342

Runmei Luo, Yong Ye, Manman Li, Jingxin Li

{"title":"Pooling wisdom: The impact of investors' private information transmission on corporate investment efficiency","authors":"Runmei Luo, Yong Ye, Manman Li, Jingxin Li","doi":"10.1016/j.ememar.2025.101342","DOIUrl":"10.1016/j.ememar.2025.101342","url":null,"abstract":"<div><div>This study examines whether and how private information transmitted by investors during interactions with managers affects corporate investment efficiency, with a particular focus on the role of managerial learning. Utilizing textual data from earnings communication conferences (ECCs) of Chinese listed companies, we find that the substantive information conveyed by investors helps mitigate firms' inefficient investment. Further analysis reveals that this mitigating effect is more pronounced when managers are highly competent or when firms place greater emphasis on investor protection, whereas it is weaker when CEOs are overconfident or when firms face more severe financing constraints. After conducting robustness checks on variable validity and sensitivity, and addressing potential endogeneity concerns, the main conclusions remain robust. Additional analyses suggest that managerial learning effects serve as the underlying mechanism through which the transmission of investors' private information influences investment efficiency, and such information transmission primarily suppresses inefficient investments by alleviating corporate underinvestment. This study underscores the informational role of investors in capital markets and provides critical insights for firms to optimize resource allocation.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"69 ","pages":"Article 101342"},"PeriodicalIF":4.6,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144781880","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

Impact of energy restructuring on green technology innovation in the context of climate policy uncertainty 气候政策不确定性背景下能源结构调整对绿色技术创新的影响

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-30 DOI: 10.1016/j.ememar.2025.101377

Shikuan Zhao , Sabri Boubaker , Ahmed Imran Hunjra , Ping Yang

引用次数: 0

Family firms and risk taking: Does the integration of ESG practices matter? 家族企业与风险承担：ESG实践的整合重要吗？

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-01 DOI: 10.1016/j.ememar.2025.101359

Karren Lee-Hwei Khaw , Yi Wei , Shiyue Ma

引用次数: 0

How stressed are the banks? An inter-temporal network analysis 银行的压力有多大？跨时间网络分析

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-17 DOI: 10.1016/j.ememar.2025.101369

Pankaj Swain , Abhishek Poddar , Arun Kumar Misra

引用次数: 0

Monetary policy and foreign exchange interventions in emerging small open economies 新兴小型开放经济体的货币政策和外汇干预

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-25 DOI: 10.1016/j.ememar.2025.101370

Pedro Henrique Alves Pereira , Jose Angelo Divino

引用次数: 0

On the time-varying behavior of household credit in Brazil 巴西家庭信贷的时变行为研究

IF 4.6 2区经济学

Emerging Markets Review Pub Date : 2025-11-01 Epub Date: 2025-09-12 DOI: 10.1016/j.ememar.2025.101366

Paulo Matos , Aline Soares

{"title":"On the time-varying behavior of household credit in Brazil","authors":"Paulo Matos , Aline Soares","doi":"10.1016/j.ememar.2025.101366","DOIUrl":"10.1016/j.ememar.2025.101366","url":null,"abstract":"<div><div>We add to the debate on access to finance by proposing an empirical exercise to address how credit, monetary, and macroeconomic variables can explain the time-specific behavior of the real variation in earmarked and non-earmarked credit issued to households in Brazil. We test an economic model by reconciling Brazil's limited availability of monthly data with the insights from the theoretical model suggested by Rubaszek and Serwa (2014) and the empirical literature applied to emerging markets. First, we estimate a standard Vector Autoregression (VAR) model. To capture the dynamic nature of household credit, we employ a Bayesian Time-Varying Coefficient VAR model (BTVC-VAR). About the messages of this paper, first we provide a methodological contribution because the joint behavior of both types of credit is crucial to understand their dynamics in the sense of a general equilibrium approach. Second, when we compare the standard VAR and BTCV-VAR, we can see how important it is to allow flexibility of parameters since the dynamics seem to have changed over time, from April 2011 to December 2023. We highlight the significant role played by non-earmarked spread, the average term of both types of credit, economic activity (IBC-BR), and the R$/US$ exchange rate. This exercise contributes to the discussion on financial stability and monetary policy and can be replicated for other emerging markets.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"69 ","pages":"Article 101366"},"PeriodicalIF":4.6,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145105373","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