Journal of Risk and Financial Management最新文献_第2页

The Effects of Geopolitical Risk on Foreign Direct Investment in a Transition Economy: Evidence from Vietnam 地缘政治风险对转型经济体外国直接投资的影响：越南的证据

Journal of Risk and Financial Management Pub Date : 2024-03-01 DOI: 10.3390/jrfm17030101

L. Truong, H. Friday, Tan Duy Pham

{"title":"The Effects of Geopolitical Risk on Foreign Direct Investment in a Transition Economy: Evidence from Vietnam","authors":"L. Truong, H. Friday, Tan Duy Pham","doi":"10.3390/jrfm17030101","DOIUrl":"https://doi.org/10.3390/jrfm17030101","url":null,"abstract":"Foreign direct investment (FDI) is a key driver of economic development of both developed and developing countries. Understanding and having insights into the factors that motivate increased FDI arevery important for both academics and policy makers. A key factor that multinationals incorporate in their decisions on FDI is geopolitical risk (GPR). Therefore, this study is devotedto investigating the short-term and long-term effects of GPR on FDI in Vietnam. Data used in this study are the yearly geopolitical risk index, FDI, and other control variables covering the period from 1986 to 2021. Using the autoregressive distributed lag (ARDL) bounds testing approach, the empirical results confirm that geopolitical risk (GPR) has a significantly negative effect on FDI in Vietnam in the longterm. Specifically, in the longterm, 1 percent increase in the GPR index is associated with 5.7983 percent decrease in Vietnam’s FDI. In addition, the results derived from the ARDL model indicate that in the shortterm, GPR has a significantly positive effect on the FDI for the one-year lag, meaning that an increase in the GPR index leads to an increase in FDI. Moreover, the results derived from the error correction model (ECM) indicate that 42.89% of the disequilibria from the previous year are converged and corrected back to the long-run equilibrium in the current year. Based on the findings, some policy implications are drawn for policymakers to mitigate the negative effects of GPR on FDI.","PeriodicalId":508146,"journal":{"name":"Journal of Risk and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140083730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Double Asymmetric Impacts, Dynamic Correlations, and Risk Management Amidst Market Risks: A Comparative Study between the US and China 双重非对称影响、动态相关性和市场风险中的风险管理：中美比较研究

Journal of Risk and Financial Management Pub Date : 2024-02-27 DOI: 10.3390/jrfm17030099

Yu Poshan, Haoran Xu, Jianing Chen

{"title":"Double Asymmetric Impacts, Dynamic Correlations, and Risk Management Amidst Market Risks: A Comparative Study between the US and China","authors":"Yu Poshan, Haoran Xu, Jianing Chen","doi":"10.3390/jrfm17030099","DOIUrl":"https://doi.org/10.3390/jrfm17030099","url":null,"abstract":"Extreme shocks, including climate change, economic sanctions, geopolitical conflicts, etc., are significant and complex issues currently confronting the global world. From the US–China perspective, this paper employs the DCC-DAGM model to investigate how diverse market risks asymmetrically affect return volatility, and extract correlations between stock indices and hedging assets. Then, diversified and hedging portfolios, constructed by optimal weight and hedge ratio, are investigated using multiple risk reduction measures. The empirical results highlight that, first, diverse risks exhibit an asymmetric effect on the return volatility in the long term, while in the short term, the US stock market is more sensitive to negative return shocks than the Chinese market. Second, risks impact correlations differently across time horizons and countries. Short-term correlations are stronger than long-term ones for the US market, with the Chinese stock market displaying more stable correlations. Third, the hedging strategy is more effective in reducing volatility and risk for US stocks, while the diversification strategy proves more effective for Chinese stocks. These findings have implications for market participants striving to make their portfolios robust during turbulent times.","PeriodicalId":508146,"journal":{"name":"Journal of Risk and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140425332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digital Financial Inclusion in Emerging Economies: Evidence from Jordan 新兴经济体的数字金融包容性：来自约旦的证据

Journal of Risk and Financial Management Pub Date : 2024-02-08 DOI: 10.3390/jrfm17020066

Abdalla Al Khub, Mohamed Saeudy, A. Gerged

引用次数: 0

Digital Financial Inclusion in Emerging Economies: Evidence from Jordan 新兴经济体的数字金融包容性：来自约旦的证据

Journal of Risk and Financial Management Pub Date : 2024-02-08 DOI: 10.3390/jrfm17020066

Abdalla Al Khub, Mohamed Saeudy, A. Gerged

引用次数: 0

Illusion of Control: Psychological Characteristics as Moderators in Financial Decision Making 控制的错觉：作为财务决策调节因素的心理特征

Journal of Risk and Financial Management Pub Date : 2024-02-07 DOI: 10.3390/jrfm17020065

Tobias Schütze, Ulrich Schmidt, Carsten Spitzer, Philipp C. Wichardt

引用次数: 0

AIIB Investment and Economic Development of India: The Case of the Gujarat Road Project AIIB 投资与印度经济发展：古吉拉特邦公路项目案例

Journal of Risk and Financial Management Pub Date : 2024-02-07 DOI: 10.3390/jrfm17020064

Jinxi Chen, Bowen Cai

{"title":"AIIB Investment and Economic Development of India: The Case of the Gujarat Road Project","authors":"Jinxi Chen, Bowen Cai","doi":"10.3390/jrfm17020064","DOIUrl":"https://doi.org/10.3390/jrfm17020064","url":null,"abstract":"The purpose of this study is to verify whether the transportation infrastructure investment carried out by the Asian Infrastructure Investment Bank (AIIB) has promoted the economic development of its recipient countries. Since the establishment of the AIIB, its investments in infrastructure development, aimed at promoting economic growth in Asian developing countries, have garnered considerable attention. This study selects India, the largest recipient country of the AIIB, as the research object and chooses the Gujarat Road Project as the research case, since it is a completed infrastructure construction investment project in the transportation field. This paper provides an overview of the project’s operation and summarizes key factors in the project’s implementation. In the data analysis section, the per capita GDP is selected as the explained variable to measure economic development, and the LASSO regression method is used to select several variables that affect economic development. Moreover, the random forest model is used to obtain the causal relationship between road construction and the per capita GDP from 2001 to 2022. The results indicate that road construction in India has a significant positive effect on per capita GDP growth, the Gujarat Road Project supported by the AIIB also has a positive effect on per capita GDP growth, and this effect is stronger than that at the national level. The main contribution of this work is the validation of the investment strategy of the AIIB and the quantification of the economic contribution of AIIB investment projects to the local area.","PeriodicalId":508146,"journal":{"name":"Journal of Risk and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139854896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Illusion of Control: Psychological Characteristics as Moderators in Financial Decision Making 控制的错觉：作为财务决策调节因素的心理特征

Journal of Risk and Financial Management Pub Date : 2024-02-07 DOI: 10.3390/jrfm17020065

Tobias Schütze, Ulrich Schmidt, Carsten Spitzer, Philipp C. Wichardt

引用次数: 0

AIIB Investment and Economic Development of India: The Case of the Gujarat Road Project AIIB 投资与印度经济发展：古吉拉特邦公路项目案例

Journal of Risk and Financial Management Pub Date : 2024-02-07 DOI: 10.3390/jrfm17020064

Jinxi Chen, Bowen Cai

{"title":"AIIB Investment and Economic Development of India: The Case of the Gujarat Road Project","authors":"Jinxi Chen, Bowen Cai","doi":"10.3390/jrfm17020064","DOIUrl":"https://doi.org/10.3390/jrfm17020064","url":null,"abstract":"The purpose of this study is to verify whether the transportation infrastructure investment carried out by the Asian Infrastructure Investment Bank (AIIB) has promoted the economic development of its recipient countries. Since the establishment of the AIIB, its investments in infrastructure development, aimed at promoting economic growth in Asian developing countries, have garnered considerable attention. This study selects India, the largest recipient country of the AIIB, as the research object and chooses the Gujarat Road Project as the research case, since it is a completed infrastructure construction investment project in the transportation field. This paper provides an overview of the project’s operation and summarizes key factors in the project’s implementation. In the data analysis section, the per capita GDP is selected as the explained variable to measure economic development, and the LASSO regression method is used to select several variables that affect economic development. Moreover, the random forest model is used to obtain the causal relationship between road construction and the per capita GDP from 2001 to 2022. The results indicate that road construction in India has a significant positive effect on per capita GDP growth, the Gujarat Road Project supported by the AIIB also has a positive effect on per capita GDP growth, and this effect is stronger than that at the national level. The main contribution of this work is the validation of the investment strategy of the AIIB and the quantification of the economic contribution of AIIB investment projects to the local area.","PeriodicalId":508146,"journal":{"name":"Journal of Risk and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139794782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Impact of ESG Rating on Hedging Downside Risks: Evidence from a Weight-Tilted Hang Seng Index ESG 评级对对冲下行风险的影响：来自权重倾斜恒生指数的证据

Journal of Risk and Financial Management Pub Date : 2024-01-31 DOI: 10.3390/jrfm17020057

Joseph K. W. Fung, F. Y. E. Lam, Yiuman Tse

引用次数: 0