Asian Finance Review最新文献

Modelling the Discount Function through the Yield Curve Trajectories of the Parsimonious Continuous De Rezende Framework 通过准连续德雷森德框架的收益率曲线轨迹模拟贴现函数

Asian Finance Review Pub Date : 2024-05-20 DOI: 10.31357/afr.v2i01.7442

Ogungbenle Gbenga Michael, O. Kayode, Chakfa Timzing

{"title":"Modelling the Discount Function through the Yield Curve Trajectories of the Parsimonious Continuous De Rezende Framework","authors":"Ogungbenle Gbenga Michael, O. Kayode, Chakfa Timzing","doi":"10.31357/afr.v2i01.7442","DOIUrl":"https://doi.org/10.31357/afr.v2i01.7442","url":null,"abstract":"This paper obtains the term structure technique to produce yield curves from Nigerian Eurobond by using the De Rezende parametric function. There does not seem to exist any empirical proof that Nigeria has constructed a functional model to construct its discount function from the yield curves. Therefore, the De Rezende parsimoniously parametric function is deeply examined to make this framework applicable in presenting yield curves for Nigerian Euro bond constructed through the associated positive forward curve and from where the discount function is generated. The forward rate should be continuous and at the same time generate a positive yield curve trajectory. The objective of this paper is (i) construct the yield curve trajectories and (ii) to construct the discount function from the yield curve (iii) to construct the in-sample prediction to achieve results in predicting coefficients for longer maturities. The data presented involves the daily closing of the Nigerian Eurobond yield covering January to December 2022, which is fitted to the observed Nigerian Eurobond yield curve to construct the yield function. The ordinary least square is applied to estimate the parameters used in computing the in-sample yield. A test of goodness of fit was conducted showing that the model fits in well to the observed data demonstrated by the model’s high R -square adjusted through the predicted yields after obtaining the decay factors.","PeriodicalId":518366,"journal":{"name":"Asian Finance Review","volume":"27 15","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141119107","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

Non-Financial Rewards Towards Academic Job Satisfaction in State Universities in Sri Lanka 斯里兰卡国立大学非经济奖励对学术工作满意度的影响

Asian Finance Review Pub Date : 2024-05-20 DOI: 10.31357/afr.v2i01.7443

R. B. P. Rathnayake, R.P.C.K. Jayasinghe

{"title":"Non-Financial Rewards Towards Academic Job Satisfaction in State Universities in Sri Lanka","authors":"R. B. P. Rathnayake, R.P.C.K. Jayasinghe","doi":"10.31357/afr.v2i01.7443","DOIUrl":"https://doi.org/10.31357/afr.v2i01.7443","url":null,"abstract":"The employee retention and turnover depend on many factors including job satisfaction, financial and nonfinancial rewards, and other internal and external factors.The financial rewards of an organization are comprised of bonuses, salary incentives, gift vouchers, retirement plans, professional development plans and referral programs etc. Non-financial rewards are recognized as public recognition, experiential rewards, participation in the decision-making, time to work on personal projects, volunteering works, professional training, leadership training, increased autonomy, employee wellbeing programs, personal growth, awards, and career advancement. Hence, the study will focus on the impact of non-financial rewards on the job satisfaction of the academicians among state universities in Sri Lanka. Currently, it is a more significant and apt time to study the job satisfaction of academic staff in Sri Lanka as there is a higher rate of brain drain in Sri Lanka. The study was carried out by using qualitative methodology conducting in-depth interviews with fifteen faculty members in five state universities, aged between 30 to 55 male and female academic staff. Interview guides were used to collect data from selected thirty permanent academicians of state universities in Sri Lanka to determine the influence of nonfinancial rewards on job satisfaction. Thus, the study identified three main non-financial rewards as work autonomy, recognition, and professional development as the most influential factors towards the job satisfaction of academicians. Further, it was found that non-financial rewards have a positive and strong with job satisfaction than financial rewards. Hence, the study emphasizes the importance of enhancing the non- financial rewards of the employees to obtain their maximum performance.","PeriodicalId":518366,"journal":{"name":"Asian Finance Review","volume":"64 19","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141121639","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

Financial Literacy on Digital Banking and Financial Performance among Small and Medium- Sized Enterprises in Sri Lanka 斯里兰卡中小型企业对数字银行和财务绩效的金融扫盲

Asian Finance Review Pub Date : 2024-05-20 DOI: 10.31357/afr.v2i01.7441

W.A.Y.A. Weerakoon, P.A.N.S. Anuradha

{"title":"Financial Literacy on Digital Banking and Financial Performance among Small and Medium- Sized Enterprises in Sri Lanka","authors":"W.A.Y.A. Weerakoon, P.A.N.S. Anuradha","doi":"10.31357/afr.v2i01.7441","DOIUrl":"https://doi.org/10.31357/afr.v2i01.7441","url":null,"abstract":"This study delves into how financial literacy shapes the relationship between digital banking and the financial performance of small and medium-sized enterprises (SMEs) in Sri Lanka. Quantitative data were gathered from 380 SMEs across nine provinces using a deductive approach. Utilizing SPSS, the study scrutinized how financial literacy moderates the connection between digital banking and SME financial performance. Results reveal a significant and positive moderating influence of financial literacy on this relationship. Furthermore, the study highlights the constructive impact of digital banking on SME development and financial performance in Sri Lanka. Importantly, participation in financial literacy programs provided by entrepreneurial support organizations emerges as a crucial factor in equipping SME owners with the requisite knowledge for making informed financial decisions. This research underscores the pivotal roles of financial literacy and digital banking in bolstering SMEs, advocating for their strategic utilization to elevate financial performance. Additionally, it fills an important gap in understanding by examining how mobile, digital, and digital banking affect SMEs in Sri Lanka. This emphasizes the crucial role of financial literacy in encouraging the adoption of digital banking and promoting SME growth in developing economies.","PeriodicalId":518366,"journal":{"name":"Asian Finance Review","volume":"27 21","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141120933","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

Linkage between Crude Oil, Gold, INR-USD Reference Rate and Sensex amidst Covid-19 Pandemic: A Cointegration and Causality Analysis Covid-19 大流行中原油、黄金、印度卢比兑美元参考汇率和 Sensex 指数之间的联系：协整与因果关系分析

Asian Finance Review Pub Date : 2024-05-20 DOI: 10.31357/afr.v2i01.7444

Nilotpal Sarma

引用次数: 0

Retail Investors and Turnover Anomaly: Evidence from the Korean Equity Market 散户投资者与成交量异常：来自韩国股票市场的证据

Asian Finance Review Pub Date : 2024-01-30 DOI: 10.31357/afr.v1i2.6909

Sampath Kongahawatte

引用次数: 0

Financial Literacy and Financial Distress on Financial Wellness among Public University Students in Sri Lanka 斯里兰卡公立大学学生的财务知识和财务困境对财务健康的影响

Asian Finance Review Pub Date : 2024-01-30 DOI: 10.31357/afr.v1i2.6915

Nimesha Senarathna, Niluka Anuradha

{"title":"Financial Literacy and Financial Distress on Financial Wellness among Public University Students in Sri Lanka","authors":"Nimesha Senarathna, Niluka Anuradha","doi":"10.31357/afr.v1i2.6915","DOIUrl":"https://doi.org/10.31357/afr.v1i2.6915","url":null,"abstract":"Sri Lanka is currently grappling with its most severe economic crisis, marked by a scarcity of foreign currency, impending debt payments, inflation, and shortages in essential goods. The crisis has disproportionately affected the younger generation, impacting their education and businesses. Public university students, in particular, face challenges with rising costs of living and educational materials. This study aims to investigate the influence of financial literacy and financial distress on the financial wellness of public university students in Sri Lanka. While existing literature abroad explores these factors, there is a research gap in understanding their combined impact on financial wellness in the Sri Lankan context. The theoretical framework incorporates Prospect Theory, Behavioral Life-Cycle Theory, and Self-Efficacy Theory. Primary data collection involved survey questionnaires distributed randomly among Sri Lankan public university students, with 122 responses analyzed using EVIEWS and Excel. The results indicate a strong positive relationship between financial literacy and financial wellness, highlighting the positive impact of financial knowledge on overall financial well-being. Conversely, while there is a negative relationship between financial distress and financial wellness, it is not statistically significant. However, when considering the combined effect, there is a significant impact of both financial literacy and financial distress on financial wellness. Overall, the study reveals that public university students in Sri Lanka exhibit higher financial literacy and effective financial management, contributing to their resilience during the economic crisis. The findings emphasize the importance of addressing both financial literacy and distress for comprehensive financial wellness among this demographic.","PeriodicalId":518366,"journal":{"name":"Asian Finance Review","volume":"47 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140529507","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

Effect of Tax Structure on Income Inequality in Sri Lanka 斯里兰卡税收结构对收入不平等的影响

Asian Finance Review Pub Date : 2024-01-30 DOI: 10.31357/afr.v1i2.6912

Kanthasamy Tharani, Dinesha Siriwardhane, Oshadhie Silva

{"title":"Effect of Tax Structure on Income Inequality in Sri Lanka","authors":"Kanthasamy Tharani, Dinesha Siriwardhane, Oshadhie Silva","doi":"10.31357/afr.v1i2.6912","DOIUrl":"https://doi.org/10.31357/afr.v1i2.6912","url":null,"abstract":"Growing income inequality is seen as one of the most important global concerns in this decade. Hence, the Sustainable Development Goals (SDGs) 2030 aims at reducing income inequality within and among countries. IMF emphasizes that income inequality emerged as one of the critical concerns for economic policy in both developed and developing countries. However, as shown by the UN, Sri Lanka is far lower than the South Asian regional income distribution standards owing to its high inequality. At the same time, tax revenue has become one of the major concerns in the country due to its broadened internal deficit. In this background, this study examines the short-run and long-run effects of tax structure on income inequality in Sri Lanka utilizing annual statistics from 1980 to 2019 by employing the ARDL model. Findings revealed that in the long run, value-added and excise taxes have a significant association with income inequality in Sri Lanka. However, the association between personal income tax and income inequality was positive but insignificant. In contrast, corporate income tax and import duty have a statistically significant negative association with income inequality in Sri Lanka. Further, in the short run, at the overall level taxes are not significantly associated with income inequality except the personal income tax which has a significant negative association with income inequality. \u0000 ","PeriodicalId":518366,"journal":{"name":"Asian Finance Review","volume":"141 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140529564","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