Asian Economic and Financial Review最新文献

Causality relations and causality direction of shallots price changes in east java province, Indonesia 印度尼西亚东爪哇省大葱价格变化的因果关系和因果方向

Asian Economic and Financial Review Pub Date : 2024-07-01 DOI: 10.55493/5002.v14i7.5111

Laila Nuzuliyah, Nuhfil Hanani, Hery Toiba, Sujarwo Sujarwo

引用次数: 0

Determinants of a bank's profitability with the mediating role of interest rate spread: A case of Vietnam 银行盈利能力的决定因素与利差的中介作用：越南案例

Asian Economic and Financial Review Pub Date : 2024-04-08 DOI: 10.55493/5002.v14i5.5041

Vo Thi Quy, Pham Dang Tuan

{"title":"Determinants of a bank's profitability with the mediating role of interest rate spread: A case of Vietnam","authors":"Vo Thi Quy, Pham Dang Tuan","doi":"10.55493/5002.v14i5.5041","DOIUrl":"https://doi.org/10.55493/5002.v14i5.5041","url":null,"abstract":"Considering the fundamental function of commercial banks in the economy, which involves the facilitation of fund transfers from lenders to borrowers, it is imperative for these institutions to carry out this task in a manner that is both efficient and effective. This is crucial to fostering economic growth and enhancing social welfare. A bank's profitability has been a subject of scrutiny by researchers in many countries for decades. This study aims to analyze the impact of interest rate spread (IRS) and its mediating role in the relationship between bank-specific factors and the bank's profitability at the Commercial Bank of Vietnam. The data was collected from 2008 to 2020 for the 25 Commercial Banks using panel regression. The study found the positive effect of cost efficiency (CE), income diversity (ID), and liquidity risk (LIQ) on the IRS; however, bank size (BS), non-performing loan (NPL), provision of bad and doubtful debts (PL), asset structure (AS), non-interest expense (NIE), and economic conditions (ECD) do not impact the IRS statistically significantly. The study also confirms the IRS's mediating role. The study findings provide empirical evidence of the explaining and mediating role of the IRS on bank profitability. This study recommends that policymakers encourage Commercial Banks to diversify their income in order to avoid focusing on traditional activities, which can lead to credit overheating.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"8 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140729111","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

Empirical validation of marginalisation thesis on the participation in the informal economy in Goa 果阿参与非正规经济的边缘化理论的经验验证

Asian Economic and Financial Review Pub Date : 2024-04-08 DOI: 10.55493/5002.v14i5.5040

G. K. Manerkar, BP Sarath Chandran

{"title":"Empirical validation of marginalisation thesis on the participation in the informal economy in Goa","authors":"G. K. Manerkar, BP Sarath Chandran","doi":"10.55493/5002.v14i5.5040","DOIUrl":"https://doi.org/10.55493/5002.v14i5.5040","url":null,"abstract":"This paper investigates the global increase in informal labor, focusing on two primary theoretical perspectives: the marginalization thesis and the reinforcement thesis. Previous empirical studies across various contexts have not definitively settled this debate. The current study, conducted in Goa, India, offers distinctive insights. Data from 200 informally employed individuals in both the formal and informal sectors was collected using snowball sampling. The findings of the binary logistic regression model reveal that the marginalisation thesis holds true, as individuals who are marginalised in terms of gender, age, education, and household employment in the informal sector are more likely to engage in informal employment. Conversely, the reinforcement thesis is supported when workplace characteristics such as flexible work timing and employment in construction services are considered. Therefore, the study concludes that a combination of marginalisation and reinforcement factors explains the reasons behind participation in the informal economy. Therefore, analysing labour market dynamics can offer valuable insights into informal employment.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"279 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140730291","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 effect of financial literacy and demographic variable on behavioral biases 金融知识和人口变量对行为偏差的影响

Asian Economic and Financial Review Pub Date : 2024-04-02 DOI: 10.55493/5002.v14i4.5037

W. Murhadi, Devina Frederica, Deddy Marciano

{"title":"The effect of financial literacy and demographic variable on behavioral biases","authors":"W. Murhadi, Devina Frederica, Deddy Marciano","doi":"10.55493/5002.v14i4.5037","DOIUrl":"https://doi.org/10.55493/5002.v14i4.5037","url":null,"abstract":"The current research investigates the association between demographic factors, including financial knowledge and demographic characteristics like gender, occupation, age, education, and income, and investor behavior biases, including bias against overconfidence, disposition effect, and herding bias. Further enhancement of behavioural finance research is required in Indonesia. This study applied a quantitative analysis technique called structural equation modeling. Stock investors aged 17 and 40 were given questionnaires for this study. Respondent data collection was carried out by distributing questionnaires through several social media sites, such as Line, WhatsApp, and Instagram, to members of the investor’s community. The total number of respondents obtained from distributing this questionnaire was 170. According to the study, overconfidence bias significantly affects income and financial literacy. However, overconfidence bias does not affect gender, occupation, investment experience, education, or age. Furthermore, for behavioral biases, the disposition effect does not affect financial literacy or all demographic factors. Finally, for herding behavior bias, bias significantly affects financial literacy, investment experience, and income, but herding bias does not affect gender, occupation, education, age, or income. These results have implications for investors with a high level of financial literacy, which will help them determine rational investment decisions. This research also has implications for high-income investors who tend not to follow herding behavior.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"12 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140753884","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 criticality of credit recovery in banking system stability: A GMM estimation 信贷恢复对银行系统稳定性的关键作用：GMM 估计

Asian Economic and Financial Review Pub Date : 2024-01-12 DOI: 10.55493/5002.v14i1.4963

A. Amadi, K. Adetiloye, I. Amadi

{"title":"The criticality of credit recovery in banking system stability: A GMM estimation","authors":"A. Amadi, K. Adetiloye, I. Amadi","doi":"10.55493/5002.v14i1.4963","DOIUrl":"https://doi.org/10.55493/5002.v14i1.4963","url":null,"abstract":"This study examines the criticality of credit recovery on banking system stability in Nigeria using data from 2007 to 2020. The system generalized method of moments (SYS-GMM) was used to analyze the data and determine the presence of cointegrating relationships among the variables. The findings revealed that credit recovery positively and significantly influences banking system stability. It was discovered that the recovery rate positively and significantly impacts the banking system stability in the short and long terms. In contrast, recovery expense only negatively and significantly affects the banking system in the short term. This implies that credit recovery is critical in business endeavors and operations for banks. Hence, the longer the delay in recovering bad debts, the more banks lose the opportunity to earn income from substitute investments, and collateral may lose value. Therefore, this study recommends that banks' management aggressively pursue the repayment of bad loans and maintain favorable and minimal recovery expenses, particularly with external debt recovery agents, to ensure that the cost of recovery is not higher than the amount recovered.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139625008","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

Inspecting the efficiency of cryptocurrency markets: New evidence 检查加密货币市场的效率：新证据

Asian Economic and Financial Review Pub Date : 2023-12-21 DOI: 10.55493/5002.v14i1.4941

I. N. Ananzeh, M. O. Al-Smadi

{"title":"Inspecting the efficiency of cryptocurrency markets: New evidence","authors":"I. N. Ananzeh, M. O. Al-Smadi","doi":"10.55493/5002.v14i1.4941","DOIUrl":"https://doi.org/10.55493/5002.v14i1.4941","url":null,"abstract":"The purpose of this study is to examine the market efficiency of cryptocurrencies, specifically at a weak level. The study focuses on six prominent cryptocurrencies selected based on their significant market capitalization: Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Binance Coin (BNB-USD), Ripple (XRP-USD), and Cardano USD (ADA-USD). The analysis utilizes unit root, Ljung–Box, variance ratio, runs, and the Brock–Dechert–Scheinkman (BDS) tests to assess different aspects of market efficiency. The data spans from September 2017 to April 2023, encompassing a wide time frame to capture potential shifts in market behavior. The results of all the tests, except the BDS test, indicate that the tested cryptocurrencies' markets are inefficient. However, the BDS test yielded different results, suggesting that BTC and ETH exhibit market efficiency compared to the other cryptocurrencies. This discrepancy indicates that the BDS test may be capturing different aspects of the time series behavior. The practical implication is that investors and market participants should exercise caution and consider the varying levels of efficiency when making decisions regarding these cryptocurrencies. Also, investors should consider a range of factors, including technical and fundamental analyses, when making investment decisions in a dynamic and evolving market.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"67 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138950565","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

Using mergers and acquisitions to increase stock returns in the banking sector: A case study on the Indonesian stock exchange 利用并购提高银行业的股票回报：印度尼西亚证券交易所案例研究

Asian Economic and Financial Review Pub Date : 2023-12-15 DOI: 10.55493/5002.v13i12.4935

I. M. Suidarma, Re Dream JS Jacko Remses

{"title":"Using mergers and acquisitions to increase stock returns in the banking sector: A case study on the Indonesian stock exchange","authors":"I. M. Suidarma, Re Dream JS Jacko Remses","doi":"10.55493/5002.v13i12.4935","DOIUrl":"https://doi.org/10.55493/5002.v13i12.4935","url":null,"abstract":"This study aims to determine the impact of merger and acquisition (mergers and acquisitions) activity in the banking sector on stock performance. It focuses on banking companies listed on the Indonesia Stock Exchange (IDX) that carried out mergers and acquisitions from 2019 to 2021. A 15-day period was observed, consisting of seven days before and seven days after the mergers and acquisitions event and the day of the event itself. The data was analyzed using market study methods and event studies. Stock price data was used to analyze the stock returns during mergers and acquisitions events, and market studies were used to measure the reactions through changes in stock prices after certain events. The results revealed that stock returns and abnormal stock returns increased across all events (E1, E2, and E3). Additionally, cumulative abnormal returns showed a positive effect on events E1 and E3, while event E2 showed a negative effect. Overall, the findings indicated that the market responded positively to mergers and acquisitions activity in the Indonesian banking sector, and the acquired banks performed well after the mergers and acquisitions. The study's results have implications for the internal management of companies, as it suggests that mergers and acquisitions could potentially lead to profit gains in the banking sector. Moreover, investors can use this insight to make more informed decisions when considering investments in the banking sector.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"78 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138998769","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 extent of the commitment of Saudi manufacturing firms to a budget and its impact on planning, controlling, and performance evaluation 沙特制造企业对预算的承诺程度及其对规划、控制和绩效评估的影响

Asian Economic and Financial Review Pub Date : 2023-12-15 DOI: 10.55493/5002.v13i12.4936

Mohammed Abdullah Al-Mekhlafi

{"title":"The extent of the commitment of Saudi manufacturing firms to a budget and its impact on planning, controlling, and performance evaluation","authors":"Mohammed Abdullah Al-Mekhlafi","doi":"10.55493/5002.v13i12.4936","DOIUrl":"https://doi.org/10.55493/5002.v13i12.4936","url":null,"abstract":"The purpose of this study is to ascertain the extent of the commitment of manufacturing firms listed on the Saudi Exchange that generate raw materials to a budget and its impact on planning, controlling, and performance evaluation, and the significance of having all administrative divisions participate in the preparation of budgets. Questionnaires were developed to gather data to answer the research questions. The results revealed that the firms included in the study apply and prepare budgets regularly to use them effectively to control the production process and evaluate the performance of departments. They also use budgets to plan revenues and expenses. A budget uses outputs to address current deviations and faults to prevent future occurrence and improve the efficiency of the manufacturing processes. Some obstacles partially limit the budget's use for controlling and evaluating performance in some Saudi manufacturing firms. It is recommended that companies have a department that solely focuses on budgets, as it was found that some firms prepare budgets through financial and administrative departments and don’t have a designated department for budgets.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"42 31","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138995950","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

ESG, corporate social responsibility and business effectiveness in Taiwan's banking industry: Cost and risk perspectives 台湾银行业的 ESG、企业社会责任和经营效益：成本与风险视角

Asian Economic and Financial Review Pub Date : 2023-12-15 DOI: 10.55493/5002.v14i1.4938

Ting-Kun Liu

{"title":"ESG, corporate social responsibility and business effectiveness in Taiwan's banking industry: Cost and risk perspectives","authors":"Ting-Kun Liu","doi":"10.55493/5002.v14i1.4938","DOIUrl":"https://doi.org/10.55493/5002.v14i1.4938","url":null,"abstract":"Whether the additional costs and risks derived from investing in ESG and corporate social responsibility will have a positive or negative impact on corporate operations is an issue worthy of further study. Past works have discussed the impact of ESG and corporate social responsibility (CSR) on corporate operations, but mostly from the perspective of operating performance. The empirical results are also inconsistent, and even in the same study, there are ambiguities. Different from previous literature, this study attempts to explore this topic from the perspectives of cost and risk. Therefore, this paper constructs empirical data of Taiwan's financial industry from 2007 to 2022 to explore the impact of ESG and CSR on capital costs and business risks. In this paper, the panel data model is used to carry out an empirical estimation of the full sample and sub-sample and further verify the differences between the influencing factors. The results show that in terms of business risk, when ESG performance is good, it can alleviate the financial distress of banks and enhance the stability of business operations. It further verifies the practical application of ESG disclosure, which can effectively reduce the debt and capital cost of the banking industry.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"298 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138996768","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 profitability and asset management on firm value and the moderating role of dividend policy: Evidence from Jordan 盈利能力和资产管理对公司价值的影响以及股利政策的调节作用：来自约旦的证据

Asian Economic and Financial Review Pub Date : 2023-12-15 DOI: 10.55493/5002.v14i1.4937

Rania Al-Omari, Y. Oroud, M. Makhlouf, A. Alshehadeh, Haneen A. Al-Khawaja

{"title":"The impact of profitability and asset management on firm value and the moderating role of dividend policy: Evidence from Jordan","authors":"Rania Al-Omari, Y. Oroud, M. Makhlouf, A. Alshehadeh, Haneen A. Al-Khawaja","doi":"10.55493/5002.v14i1.4937","DOIUrl":"https://doi.org/10.55493/5002.v14i1.4937","url":null,"abstract":"The objective of this study is to examine the influence of profitability and asset management on the valuation of a firm. The data utilized in this study was sourced from the financial statements of industrial firms that are publicly traded on the Amman Stock Exchange. The fixed effects model was utilized for all four economics models in the analysis of the panel data. One of the principal discoveries of this investigation is the favorable impact of the profitability and asset management metrics on the valuation of a corporation. The research findings indicate that the inclusion of dividend payments as a moderating factor in the association between profitability and asset management results in an augmentation of a firm's worth. The positive correlation between dividend payouts and a company's worth is attributed to their link with profitability and asset management. This study has the ability to offer valuable insights into corporate management by examining the aspects that can enhance a company's value. Moreover, it holds significance for both existing and potential investors to discern the determinants that have the potential to augment the worth of a corporation.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"20 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138999923","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