Economic Systems最新文献_第8页

Individualism, economic freedom, and the development of the shadow economy 个人主义、经济自由和影子经济的发展

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101168

James W. Saunoris

引用次数: 0

Risk-adjusted efficiency and innovation: an examination of systematic difference and convergence among BRIC banks 风险调整效率与创新：金砖四国银行的系统性差异与趋同性研究

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101167

Thanh Nguyen , Son Nghiem , Abhishek Singh Bhati

{"title":"Risk-adjusted efficiency and innovation: an examination of systematic difference and convergence among BRIC banks","authors":"Thanh Nguyen , Son Nghiem , Abhishek Singh Bhati","doi":"10.1016/j.ecosys.2023.101167","DOIUrl":"10.1016/j.ecosys.2023.101167","url":null,"abstract":"<div><p>We argue that technological progress and technology diffusion is improving innovation the banking industry, leading to a potential steady-state equilibrium in operational efficiency and innovation across banks with similar characteristics. Using the latest meta-frontier method, this study examined BRIC banks during the period from 2000 to 2020. We found that Indian and Brazilian banks are more innovative in reducing costs, whereas Indian and Chinese banks are more cost efficient. Chinese, Russian, Indian, and Brazilian banks rank first to fourth in profit efficiency and profit-making innovation, respectively. Risk-taking boosts group cost and profit efficiencies and profit-making innovation but reduces cost-reducing innovation in each country. BRIC banks diverged in innovation during the analysis period but slowly converged after the 2008 crisis. Reform policies, adoption of production technology, formulating regulations and investing in human capital and technologies are crucial for less efficient and innovative banks to catch-up with frontier banks.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101167"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362523001061/pdfft?md5=81d0887eb0479166353d5390f4e09de7&pid=1-s2.0-S0939362523001061-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139026331","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

Reviewer acknowledgement 审稿人致谢

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/S0939-3625(24)00029-3

引用次数: 0

Intergenerational occupational mobility in Latin American economies: An empirical approach 拉丁美洲经济体的代际职业流动:一个实证方法

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101154

Ömer Tuğsal Doruk , Francesco Pastore , Hasan Bilgehan Yavuz

引用次数: 0

Macroeconomic fundamentals and attention: What drives european consumers’ inflation expectations? 宏观经济基本面和关注度：是什么驱动了欧洲消费者的通胀预期？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101153

Zuzana Kučerová , Daniel Pakši , Vojtěch Koňařík

引用次数: 0

Financial Access and Income Inequality in Sub-Saharan Africa: Does Ethnic Fragmentation Give New Evidence? 撒哈拉以南非洲的金融获取与收入不平等：种族分裂是否提供了新证据？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-02-24 DOI: 10.1016/j.ecosys.2024.101200

Soumtang Bime Valentine, Mondjeli Mwa Ndjokou Itchoko Motande

引用次数: 0

Do vertical ecological compensation policies promote green economic development: A case study of the transfer payments policy for China’s National Key Ecological Function Zones 垂直生态补偿政策促进绿色经济发展——以中国国家重点生态功能区转移支付政策为例

IF 3.1 2区经济学

Economic Systems Pub Date : 2023-12-01 DOI: 10.1016/j.ecosys.2023.101125

Qiuyue Yang

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引用次数: 1

Income inequality and systemic banking crises: A nonlinear nexus 收入不平等与系统性银行危机:非线性关系

IF 3.1 2区经济学

Economic Systems Pub Date : 2023-12-01 DOI: 10.1016/j.ecosys.2023.101123

Shengquan Wang

引用次数: 2

Information asymmetry, agency costs, and payout policies: An international analysis of IFRS adoption and the global financial crisis 信息不对称、代理成本和支付政策:采用国际财务报告准则与全球金融危机的国际分析

IF 3.1 2区经济学

Economic Systems Pub Date : 2023-12-01 DOI: 10.1016/j.ecosys.2023.101129

Wolfgang Bessler , Halit Gonenc , Mario Hernandez Tinoco

{"title":"Information asymmetry, agency costs, and payout policies: An international analysis of IFRS adoption and the global financial crisis","authors":"Wolfgang Bessler , Halit Gonenc , Mario Hernandez Tinoco","doi":"10.1016/j.ecosys.2023.101129","DOIUrl":"10.1016/j.ecosys.2023.101129","url":null,"abstract":"<div><p>Information asymmetry can affect the propensity of firms to pay dividends directly and indirectly by reducing the agency costs of free cash flow (FCF). However, designing a research framework to identify whether information asymmetry or agency cost directly explains the propensity to pay dividends is challenging, as both are partially endogenous. To overcome this challenge, this study investigates the role of two independent external shocks in explaining the propensity of firms to pay dividends. We use the mandatory adoption of International Financial Reporting Standards (IFRS) as an information asymmetry–reducing event and the global financial crisis (GFC) as an agency cost–reducing event to disentangle the effects of information asymmetry and agency costs. Using a large international sample of more than 100,000 firm-year observations and a matched sample of more than 35,000 observations, we find that the propensity to pay dividends declined after the mandatory adoption of IFRS and then declined further due to the economic shock of the GFC. We also provide evidence that firms facing high information asymmetry and high agency costs have a lower propensity to pay dividends because of the combined effects of IFRS adoption and the GFC. These findings suggest that the agency costs of FCF are more directly relevant in explaining dividend payout policy.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"47 4","pages":"Article 101129"},"PeriodicalIF":3.1,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362523000638/pdfft?md5=0e84716d6da0e7d5493405ee5ce41899&pid=1-s2.0-S0939362523000638-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46296593","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: 1

Dialect diversity and labor income share in China 方言多样性与中国劳动力收入份额

IF 3.1 2区经济学

Economic Systems Pub Date : 2023-12-01 DOI: 10.1016/j.ecosys.2023.101145

Xu Si , Yulin Liu , Jun Wang

引用次数: 0