Quarterly Review of Economics and Finance最新文献

Macro-prudential policy, digital transformations and banks’ risk-taking

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-12-01 DOI: 10.1016/j.qref.2024.101941

Yongkui Li , Qixuan Du , Xiangrui Chao , Xiang Gao

引用次数: 0

Financial inclusion and income distribution revisited: New findings 重新审视金融包容性和收入分配：新发现

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-11-17 DOI: 10.1016/j.qref.2024.101940

Takeshi Inoue

{"title":"Financial inclusion and income distribution revisited: New findings","authors":"Takeshi Inoue","doi":"10.1016/j.qref.2024.101940","DOIUrl":"10.1016/j.qref.2024.101940","url":null,"abstract":"<div><div>Most previous studies have quantitatively shown that progress in financial inclusion reduces income inequality. This study uses linear and squared terms of financial inclusion to analyze whether and how its effect on reducing income inequality changes over time. Financial inclusion is measured using a composite indicator that considers factors such as accessibility, availability, and actual use of financial services. The analysis utilizes panel data from 2004 to 2021 and samples comprising all countries or only developing countries. The empirical results for both samples indicate that the linear and squared terms of financial inclusion have negative and statistically significant effects on income inequality. Therefore, financial inclusion can reduce income inequality, and the marginal effect increases as financial inclusion progresses. The empirical results also indicate that such effects vary depending on the dimension of financial inclusion (i.e., access versus use) and type of financial services considered (i.e., bank accounts versus loans). For example, when financial inclusion is measured solely in terms of borrowing from formal financial institutions, the financial inclusion and income inequality relationship may be U-shaped. Therefore, different aspects of financial inclusion may affect income inequality differently over time.</div></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"98 ","pages":"Article 101940"},"PeriodicalIF":2.9,"publicationDate":"2024-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142701915","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

Are there “Ratatouille” restaurants? On anticorrelation of food quality and hygiene 有 "料理鼠王 "餐厅吗？食品质量与卫生的反相关性

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-11-15 DOI: 10.1016/j.qref.2024.101939

Hisayuki Yoshimoto , Andriy Zapechelnyuk

引用次数: 0

Quantile volatility connectedness among themes and sectors: Novel evidence from China 主题和行业之间的量子波动关联性：来自中国的新证据

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-11-07 DOI: 10.1016/j.qref.2024.101937

Bin Zhou, Huai-Long Shi

引用次数: 0

Credit ratings and corporate ESG behavior 信用评级与企业的环境、社会和公司治理行为

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-11-01 DOI: 10.1016/j.qref.2024.101938

Junyong Lee , Kyounghun Lee , Frederick Dongchuhl Oh

引用次数: 0

Unveiling dynamics: Financial performance determinants in the Ghanaian insurance industry 揭示动态：加纳保险业财务业绩的决定因素

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-11-01 DOI: 10.1016/j.qref.2024.101935

Ezekiel Kofi Opoku , Edward Marfo-Yiadom , Mariya Gubareva , José Zorro Mendes

{"title":"Unveiling dynamics: Financial performance determinants in the Ghanaian insurance industry","authors":"Ezekiel Kofi Opoku , Edward Marfo-Yiadom , Mariya Gubareva , José Zorro Mendes","doi":"10.1016/j.qref.2024.101935","DOIUrl":"10.1016/j.qref.2024.101935","url":null,"abstract":"<div><div>This pioneering study unravels the financial performance dynamics of Ghanaian insurance firms, leveraging proprietary data from the National Insurance Company (NIC), Ghana. Utilizing a system GMM technique on a comprehensive panel dataset of 40 firms from 2012 to 2017, it uncovers cost efficiency, claims ratio, retention ratio, audit fees, firm age and size, and board composition as crucial performance drivers. In what concerns the implications for the emerging economies, we show that the inclusion of the variable “risk retention and claims” helps insurance companies to better ascertain the right level of risks associated with the businesses they underwrite, so that the claims ratio will be minimized, and the appropriate premium ensured. Moreover, for the insurance sector in the frontier markets, with characteristics like Ghana´s economy, the study advocates for strategic cost control measures and emphasizes the need for proactive regulatory approaches aiming to enhance policy actions and to provide supplementary funds for firms demonstrating growth potential. These empirical evidence-based insights help design a roadmap for developing the insurance sector in the economies belonging to frontier and emerging markets.</div></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"98 ","pages":"Article 101935"},"PeriodicalIF":2.9,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142651683","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

Institutional blockholder monitoring and stock price crash risk 机构大股东监控与股价暴跌风险

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-10-23 DOI: 10.1016/j.qref.2024.101933

Chune Young Chung , Pham Thi Ngoc Dung , Chang Liu

引用次数: 0

Employee stock ownership plan as a measure of covering up corporate fraud: Evidence from China 员工持股计划是掩盖公司欺诈行为的一种措施：来自中国的证据

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-10-22 DOI: 10.1016/j.qref.2024.101934

Ben Ma , Yong Qiu

引用次数: 0

Asymmetric nexus between shadow economy and financial instability: Does institutional quality matter? 影子经济与金融不稳定之间的不对称关系：机构质量是否重要？

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-10-22 DOI: 10.1016/j.qref.2024.101932

Faisal Faisal , Suresh Ramakrishnan , Sami Ur Rahman , Adnan Ali , Hamid Ghazi H Sulimany

{"title":"Asymmetric nexus between shadow economy and financial instability: Does institutional quality matter?","authors":"Faisal Faisal , Suresh Ramakrishnan , Sami Ur Rahman , Adnan Ali , Hamid Ghazi H Sulimany","doi":"10.1016/j.qref.2024.101932","DOIUrl":"10.1016/j.qref.2024.101932","url":null,"abstract":"<div><div>Policymakers worldwide, especially central banks, are concerned about the causes and remedies of financial instability. This study examines the asymmetric influence of the shadow economy on financial instability. Moreover, the study analyzes the moderating role of institutional quality (IQ) in the shadow economy and financial instability nexus. This study used novel econometric techniques, including RALS-ADF and RALS-LM unit root tests, RALS-Fourier ARDL, NARDL, and single Fourier-Toda and Yamamoto causality tests, using yearly data from 1984 to 2020 for Turkey. Specifically, a positive shock to IQ declines financial instability, while a negative shock to IQ promotes it. Further, the negative shock to SE lessens the financial instability. Moreover, the negative shock to the interaction term implies that the shadow economy outweighs the IQ (depending on the level of IQ) in its effect in the case of Turkey, i.e., even if IQ increases (which usually decreases financial instability), the increasing SE has a dominant effect, and eventually upsurges financial instability. Additionally, in line with the institutional failure hypothesis, the negative shock to interaction term leads to a substantial increase in financial instability. Finally, the findings showed a one-way causality that runs from economic growth to financial instability and bidirectional causality between SE and GDP. The government should reduce shadow economic activities in the economy by enhancing IQ, which can increase government revenue and reduce financial instability.</div></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"98 ","pages":"Article 101932"},"PeriodicalIF":2.9,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142651682","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

Vulnerable options with regime switching and stochastic liquidity 制度转换和随机流动性下的脆弱期权

IF 2.9 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-10-18 DOI: 10.1016/j.qref.2024.101930

Xin-Jiang He , Puneet Pasricha , Tuantuan Lu , Sha Lin

引用次数: 0