Quarterly Review of Economics and Finance最新文献_第9页

Spillover effects, lead and lag relationships, and stable coins time series 溢出效应、领先和滞后关系以及稳定硬币时间序列

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-03-06 DOI: 10.1016/j.qref.2024.03.003

Seongcheol Paeng , Dave Senteney , Taewon Yang

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引用次数: 0

Do economic uncertainty and persistence in housing prices matter on mortgage insurance? 经济的不确定性和房价的持续性对抵押贷款保险有影响吗？

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-03-05 DOI: 10.1016/j.qref.2024.02.006

Chih-Yuan Yang , Chia-Chien Chang

引用次数: 0

Media sentiment and stock returns 媒体情绪与股票回报

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-03-02 DOI: 10.1016/j.qref.2024.02.008

Mikael Bask , Lars Forsberg , Andreas Östling

引用次数: 0

Do more harm than good? The optional reverse charge mechanism against cross-border tax fraud 弊大于利？打击跨境税务欺诈的可选反向收费机制

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-03-02 DOI: 10.1016/j.qref.2024.02.007

Wojciech Stiller , Marwin Heinemann

引用次数: 0

Assessing Country Risk in the Stock Market and Economic Growth Nexus: Fresh Insights from Bootstrap Panel Causality 评估股市与经济增长关系中的国家风险：引导式面板因果关系的新见解

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-23 DOI: 10.1016/j.qref.2024.02.005

Sami Ur Rahman , Faisal Faisal , Adnan Ali , Nur Naha Abu Mansor , Zahoor Ul Haq , Hamid Ghazi H Sulimany , Suresh Ramakrishnan

{"title":"Assessing Country Risk in the Stock Market and Economic Growth Nexus: Fresh Insights from Bootstrap Panel Causality","authors":"Sami Ur Rahman , Faisal Faisal , Adnan Ali , Nur Naha Abu Mansor , Zahoor Ul Haq , Hamid Ghazi H Sulimany , Suresh Ramakrishnan","doi":"10.1016/j.qref.2024.02.005","DOIUrl":"https://doi.org/10.1016/j.qref.2024.02.005","url":null,"abstract":"<div><p>Investigating the nexus between the stock market and the real economy is vital, as financial markets can play a critical role in economic growth. However, the country's risk factors (political, economic and financial) influence economic growth and financial markets’ nexus. This study examines the role of stock market development and country risk (political, economic and financial) on economic growth, and the moderating influence of country risk in the stock market and economic growth nexus in BRICS economies (except Russia) over the period of 2000 to 2020. The study employed various latest econometrics techniques, including Covariate Augmented Dickey-Fuller (CADF) for identifying unit root problem, Westerlund (2007) test for examining long-run relationship, Cross-sectional auto-distributive lag (CS-ARDL) for estimating long-run relationship, and finally, Konya (2006) for identifying the causal relationship among the variables. The study explored that financial risk, economic risk and political risk is negatively associated with economic growth. However, stock market does not play a significant role in economic growth in this case. The study highlighted a bi-directional causality between economic growth and stock market development. The study also suggests a unidirectional causality from political, economic and financial risk towards economic growth. Finally, the study suggests some policy recommendations based on the empirical results.</p></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"94 ","pages":"Pages 294-302"},"PeriodicalIF":3.4,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140113832","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

Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19 量化金融部门系统性风险的内生和外生冲击：全球金融危机与 COVID-19 的比较

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-16 DOI: 10.1016/j.qref.2024.02.004

Muhammad Usman , Zaghum Umar , Sun-Yong Choi , Tamara Teplova

引用次数: 0

Political stability and financial development: An empirical investigation 政治稳定与金融发展：实证调查

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-15 DOI: 10.1016/j.qref.2024.02.003

Michael Chletsos , Andreas Sintos

{"title":"Political stability and financial development: An empirical investigation","authors":"Michael Chletsos , Andreas Sintos","doi":"10.1016/j.qref.2024.02.003","DOIUrl":"10.1016/j.qref.2024.02.003","url":null,"abstract":"<div><p>The significance of political stability as a fundamental political institution within a country is widely acknowledged. However, the intricate interplay between political stability and the development of financial institutions and markets remains inadequately explored. Through an analysis encompassing 123 countries spanning the temporal interval of 1980 to 2017, a discernible pattern emerges: heightened levels of political stability substantively foster the advancement of financial development. This positive association is pronounced in countries characterized by greater government effectiveness, those enacting financial liberalization reforms, and those exhibiting a more democratic political structure. The results are robust to alternative measures of political stability, controlling for country heterogeneity, a two-stage least squares technique using internally generated instruments to address endogeneity issues, among several other robustness tests. Our results emphasize that countries should prioritize the creation of a more politically stable environment, as it not only improves growth prospects, but also creates a climate of confidence for economic agents to actively engage in financial markets.</p></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"94 ","pages":"Pages 252-266"},"PeriodicalIF":3.4,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139818438","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

Managing portfolio risk during crisis times: A dynamic conditional correlation perspective 危机时期的投资组合风险管理：动态条件相关性视角

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-15 DOI: 10.1016/j.qref.2024.02.002

Hanyu Zhang , Alfonso Dufour

引用次数: 0

Prospect theory and asset allocation 前景理论与资产配置

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-12 DOI: 10.1016/j.qref.2024.01.010

Ines Fortin , Jaroslava Hlouskova

{"title":"Prospect theory and asset allocation","authors":"Ines Fortin , Jaroslava Hlouskova","doi":"10.1016/j.qref.2024.01.010","DOIUrl":"https://doi.org/10.1016/j.qref.2024.01.010","url":null,"abstract":"<div><p>We study the asset allocation of an investor with prospect theory (PT) preferences. First, we solve analytically the two-asset problem of the PT investor for one risk-free and one risky asset and find that the reference return and the level of risk aversion or risk seeking (diminishing sensitivity) affect differently less ambitious and more ambitious investors: the less ambitious investor decreases her exposure to the risky asset when increasing her reference return or the level of diminishing sensitivity, while the more ambitious investor increases her exposure to the risky asset when increasing her reference return or the level of diminishing sensitivity. However, both less and more ambitious investors decrease their exposures to the risky asset when increasing their degrees of loss aversion. In a comprehensive sensitivity analysis, we investigate how different aspects of the PT investor’s preferences contribute to her risk taking, performance and happiness. We observe, for instance, that the investor’s happiness decreases with her increasing level of ambition. Second, we perform simulations to examine concrete solutions of the theoretical two-asset problem for different types of the PT investor and for different characteristics of the risky asset and find that the assumption of skewness, as opposed to symmetry, changes the optimal investment in the risky asset. Third, we empirically investigate the performance of a PT portfolio when diversifying among a stock market index, a government bond and gold, in Europe and the US. We focus on investors with PT preferences under different scenarios regarding the reference return and the degree of loss aversion and compare their portfolio performance with the performance of investors under mean–variance (MV), linear loss averse and CVaR preferences. We find that, in the US, PT portfolios significantly outperform MV portfolios (in terms of returns) in most cases.</p></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"94 ","pages":"Pages 214-240"},"PeriodicalIF":3.4,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1062976924000164/pdfft?md5=f4f71a42203fb79f5ee595017fff2b9e&pid=1-s2.0-S1062976924000164-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139744256","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

The relationship between investment determinants and environmental sustainability: Evidence through meta-analysis 投资决定因素与环境可持续性之间的关系：荟萃分析提供的证据

IF 3.4 3区经济学

Quarterly Review of Economics and Finance Pub Date : 2024-02-10 DOI: 10.1016/j.qref.2024.02.001

Ravita Kharb , Vivek Suneja , Shalini Aggarwal , Pragati Singh , Umer Shahzad , Neha Saini , Dinesh Kumar

{"title":"The relationship between investment determinants and environmental sustainability: Evidence through meta-analysis","authors":"Ravita Kharb , Vivek Suneja , Shalini Aggarwal , Pragati Singh , Umer Shahzad , Neha Saini , Dinesh Kumar","doi":"10.1016/j.qref.2024.02.001","DOIUrl":"10.1016/j.qref.2024.02.001","url":null,"abstract":"<div><p>There has been a lot of scholarly interest in investigating the relationship between investment determinants and environmental sustainability. The objective of this study is to utilise meta-analysis to combine 43861 observations from 82 studies that look at how environmental sustainability determinants (Carbon emission, greenhouse gas emission, climate change) and investment determinants, such as foreign direct investment, trade openness, international trade, globalisation, and green innovation, connected. The findings show that there is a significant and positive association between environmental sustainability and Foreign direct investment, trade openness, international trade, and globalization. Additionally, the association between carbon emission and green innovation was found negative. Also, institutional quality, regulatory quality, and market type moderate the relationship between investment determinants and environmental sustainability. Studies show that introducing institutional quality as a moderator for Foreign direct investment and trade openness negatively affects carbon emissions. The present study also stipulates policy implications for countries to reduce carbon emissions.</p></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"94 ","pages":"Pages 267-280"},"PeriodicalIF":3.4,"publicationDate":"2024-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139880118","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