Asian Economic and Financial Review最新文献_第5页

Board influence on accruals management and the role of ownership structure: Evidence from Bangladesh 董事会对应计项目管理的影响和所有权结构的作用:来自孟加拉国的证据

Asian Economic and Financial Review Pub Date : 2023-06-14 DOI: 10.55493/5002.v13i8.4818

Dr Mohammad Tariq Hasan, Mohammad Sarwar Rekabder, Md Mahmood Ul, Haque Hasan, Pranto Kumar

{"title":"Board influence on accruals management and the role of ownership structure: Evidence from Bangladesh","authors":"Dr Mohammad Tariq Hasan, Mohammad Sarwar Rekabder, Md Mahmood Ul, Haque Hasan, Pranto Kumar","doi":"10.55493/5002.v13i8.4818","DOIUrl":"https://doi.org/10.55493/5002.v13i8.4818","url":null,"abstract":"The main purpose of this study is to explore the association between accruals management (AM) and board attributes. Additionally, the study investigates the moderating role of ownership structures. In order to perform the study, five years of data (2016–2020) for 159 firms listed on the Dhaka Stock Exchange (DSE) have been considered, consisting of 759 firm-year observations. Agency theory that governs the relationship between the principal and the agent has been applied here. We have used STATA software with the random effects GLS model to run the regression on the balanced panel data. The results of the analysis show that, while board size and board independence have significant positive relation with AM, gender diversity, institutional ownership and family ownership show a significant negative association with AM. The analysis of moderating variables shows that foreign ownership has a significant negative impact on the association between board expertise and AM, and family ownership has a significant negative impact on board independence and AM. These findings indicate that the type of ownership structure may be useful in attaining the objectives of the board in Bangladesh. The findings of the study will be relevant for the regulatory authorities in Bangladesh in controlling and implementing new guidelines related to corporate governance.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"15 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84419677","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 relationship between supply chain finance and firm performance: Evidence from Thai listed firms 供应链金融与企业绩效的关系:来自泰国上市公司的证据

Asian Economic and Financial Review Pub Date : 2023-06-14 DOI: 10.55493/5002.v13i8.4817

Wanlapa Thomya, Grid Rangsungnoen, Uma Ritsri, S. Nonthapot, Krittapha Saenchaiyathon

{"title":"The relationship between supply chain finance and firm performance: Evidence from Thai listed firms","authors":"Wanlapa Thomya, Grid Rangsungnoen, Uma Ritsri, S. Nonthapot, Krittapha Saenchaiyathon","doi":"10.55493/5002.v13i8.4817","DOIUrl":"https://doi.org/10.55493/5002.v13i8.4817","url":null,"abstract":"The idea of supply chain finance (SCF), often called \"working capital management\", is to optimize the flow of funds across the entire supply chain in businesses, theoretically enhancing supply chain participants' efficiency. This study aims to investigate if the relationship between supply chain finance and firm performance is consistent across industry sectors. The sample includes businesses that were listed on the Stock Exchange of Thailand (SET) between 2016 and 2020. The study compared 64 firms in the agro-industry with 668 firms from all SET industries. The annual financial report (Form 56-1) and data from the SETSMART database were mined for source data. Though the multiple regression study found a substantial positive relationship between SCF and firm performance for the agro-industry, it was not consistent across all other industries. The results revealed a significant positive relationship between SCF and firm performance. This research thus assists in understanding how companies listed on the SET manage their financial supply chains. The listed companies may apply the findings to improve their performance through effective working capital management. In addition, governmental agencies can use the results to develop policies that support effective financial supply chain management for all supply chain participants.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78227914","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 correlation between quality change management and process implementation with financial and non-financial market performance in south-eastern Europe companies 质量变更管理和过程实施与东南欧公司财务和非金融市场绩效之间的关系

Asian Economic and Financial Review Pub Date : 2023-06-08 DOI: 10.55493/5002.v13i8.4816

A. Loku, Nadire Loku

{"title":"The correlation between quality change management and process implementation with financial and non-financial market performance in south-eastern Europe companies","authors":"A. Loku, Nadire Loku","doi":"10.55493/5002.v13i8.4816","DOIUrl":"https://doi.org/10.55493/5002.v13i8.4816","url":null,"abstract":"This study aims to analyze the impact of overall quality management on company performance by examining the relationship between operational performance and customer orientation, commitment to top management, employee focus on the job, and process approach. The study employs a quantitative approach using statistical analyses, such as KMO and Bartlett's factor analysis, correlation analysis and t-tests to test the research econometric model. The results revealed a positive correlation between operational performance (financial and non-financial) and customer orientation with a coefficient of 0.164. Additionally, the study found a significant correlation between commitment to top management (coefficient p = 0.654), employees’ focus on the job (coefficient p = 0.378), and process approach (coefficient p = 0.387). Overall quality management can be considered a strategic commitment of a company to create value for customers and owners based on quality. The commitment of top management to continuously improve the quality of all aspects of the business is crucial in achieving this goal. The study's findings suggest that companies can benefit from implementing overall quality management practices to improve their performance. By prioritizing customer orientation, committing to top management, and focusing on employee job satisfaction and process approach, companies can create a competitive advantage through their commitment to quality.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76323707","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

Factors affecting customers' adoption of fintech in the gulf cooperation council countries 海湾合作委员会国家客户采用金融科技的影响因素

Asian Economic and Financial Review Pub Date : 2023-05-23 DOI: 10.55493/5002.v13i7.4800

Saleh M. Shehata, Alaa Mohamed Abdeljawad, L. A. Mazouz, Lamia Yousif Khalaf Aldossary, M. Y. Alsaeed, M. Sayed

{"title":"Factors affecting customers' adoption of fintech in the gulf cooperation council countries","authors":"Saleh M. Shehata, Alaa Mohamed Abdeljawad, L. A. Mazouz, Lamia Yousif Khalaf Aldossary, M. Y. Alsaeed, M. Sayed","doi":"10.55493/5002.v13i7.4800","DOIUrl":"https://doi.org/10.55493/5002.v13i7.4800","url":null,"abstract":"This study examines the factors affecting customers' adoption of fintech in the Gulf Cooperation Council (GCC) countries. Based on fintech adoption models, a conceptual framework was developed and extended to include COVID-19 situational influences. Data were collected during the spread of COVID-19 and its subsequent variants. The sample comprises 484 customers who obtained financial services in the GCC countries. Hypotheses were tested using partial least squares structural equation modeling (PLS-SEM). The findings indicate that perceived usefulness, perceived ease of use, trust, and situational influences of COVID-19 have significantly affected customers' attitudes toward the use of fintech. Furthermore, such attitudes had a significant effect on customers’ intentions to use fintech. The findings also indicate that both perceived usefulness and the situational influences of COVID-19 have had significant direct and indirect effects on customers’ intentions to use fintech. Social influences have only directly affected customers’ intentions to use fintech, both perceived ease of use and trust have only indirectly affected the customers’ intentions to use fintech. Conversely, the findings show that social influence does not affect customers’ attitudes towards using fintech. This study provides several recommendations to financial institutions in the GCC Countries.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"51 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73814915","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

Dynamics of capital flight components and domestic investment in Nigeria 尼日利亚资本外逃成分与国内投资动态

Asian Economic and Financial Review Pub Date : 2023-05-23 DOI: 10.55493/5002.v13i7.4803

A. O. Adekunle, A. Gbadebo, J. Akande, H. Yoshifumi, Muhammed Manzuma-Ndaaba Ndanusa

{"title":"Dynamics of capital flight components and domestic investment in Nigeria","authors":"A. O. Adekunle, A. Gbadebo, J. Akande, H. Yoshifumi, Muhammed Manzuma-Ndaaba Ndanusa","doi":"10.55493/5002.v13i7.4803","DOIUrl":"https://doi.org/10.55493/5002.v13i7.4803","url":null,"abstract":"Capital flight can cause challenges regarding the domestic availability of financial resources in sustaining domestic investment in Nigeria. The purpose of this study is to examine the connection between capital flight components and domestic investment in Nigeria. The study employed the autoregressive distributive lag model (ARDL) to analyze the time series data for Nigeria spanning from 1981 to 2018. The study found that changes in external debt, current account balance, and foreign direct investments have a negative effect on domestic investments in the short run and long run. Furthermore, the results obtained show that the intercept has a positive effect on domestic investment. The long-run coefficient of current account balance has a positive effect, while the other components of capital flight – foreign direct investment, external reserves and external debt – have a negative effect on domestic investment. The error correction coefficient is significant and conforms to the a priori expectation. Hence, the study concludes that growth in domestic investment can be achieved by regulating the components of capital flight within the desirable limits. The study recommends that emphasis should be placed on the components of capital flight to stimulate domestic investment for economic growth.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81895578","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

Medium and high-tech manufacturing development and the connections to macroeconomic factors: Insights from a fast-growing market 中高技术制造业发展及其与宏观经济因素的关系:来自快速增长市场的洞察

Asian Economic and Financial Review Pub Date : 2023-05-23 DOI: 10.55493/5002.v13i7.4802

Nguyen Tuan Anh, Nguyen Duc Hien, Dao Le Trang Anh

{"title":"Medium and high-tech manufacturing development and the connections to macroeconomic factors: Insights from a fast-growing market","authors":"Nguyen Tuan Anh, Nguyen Duc Hien, Dao Le Trang Anh","doi":"10.55493/5002.v13i7.4802","DOIUrl":"https://doi.org/10.55493/5002.v13i7.4802","url":null,"abstract":"The medium- and high-tech manufacturing (MHM) sector has played a crucial role in Vietnam's economic development. The purpose of this research is to identify the primary factors that contribute to the growth of the medium- and high-tech manufacturing sector in Vietnam. By applying the autoregressive distributed lag (ARDL) method to analyze annual data from 1990 to 2020, we discovered that different macroeconomic factors affect the short- and long-term development of the MHM sector in varying ways. Specifically, digitalization and human capital have a positive influence on the growth of the MHM sector over both the short and long terms. Trade openness and foreign direct investment, however, have a significant, negative long-term impact on the growth of the MHM sector. The effect of financial development on the MHM sector in Vietnam is significant and positive in the short term. Our study discloses that both the 2008–2009 global financial crisis and the Covid-19 pandemic positively impacted Vietnam's MHM sector, as global manufacturers diversified their supply chains and moved their production facilities to Vietnam during and after these events. From the empirical findings, our study offers valuable suggestions to the Vietnamese government, which will enable the country to unlock its full potential for MHM growth.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75345177","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 GDP, human development, unemployment, and globalization on obesity GDP、人类发展、失业和全球化对肥胖的影响

Asian Economic and Financial Review Pub Date : 2023-05-23 DOI: 10.55493/5002.v13i7.4799

M. Dritsaki, Chaido Dritsaki

{"title":"The impact of GDP, human development, unemployment, and globalization on obesity","authors":"M. Dritsaki, Chaido Dritsaki","doi":"10.55493/5002.v13i7.4799","DOIUrl":"https://doi.org/10.55493/5002.v13i7.4799","url":null,"abstract":"This paper examines the impact of GDP, human development, unemployment and globalization on obesity rates in EU countries from 1990 to 2019. Hausman’s test was applied to test for fixed and random effects on the panel data. The Pesaran and Hsiao tests assessed cross-sectional dependence and the homogeneity (heterogeneity) of the slope between countries. A second generation unit root test was carried out using the CIPS test by Pesaran, and the Westerlund test was used to test for cointegration. Mean group (MG) and pooled mean group (PMG) estimations were applied to allow for a higher degree of heterogeneity of the parameters in growth regressions. Finally, to detect causality in heterogeneous units, and cross-sectional dependence, we used the Dumitrescu–Hurlin test. The results of the analysis showed that the variables are cross-sectionally dependent and heterogeneous as well as stationary at first difference. The cointegration test results show that obesity and the explanatory variables move together in the long-run for all countries. Human development has a negative impact on obesity for 27 EU countries, while GDP, globalization and unemployment have a positive impact on obesity. Globalization and unemployment are considered to be the most influential factors affecting obesity. Hence, EU governments should pay great attention to these aspects.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89741529","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

Measuring the response of the property price index to monetary policy shock: Evidence from emerging market economies 衡量房地产价格指数对货币政策冲击的反应:来自新兴市场经济体的证据

Asian Economic and Financial Review Pub Date : 2023-05-23 DOI: 10.55493/5002.v13i7.4801

C. Anwar, Akhmadi, Kelvin Mardha Sofyan, I. Suhendra, Pihri Buhaerah

{"title":"Measuring the response of the property price index to monetary policy shock: Evidence from emerging market economies","authors":"C. Anwar, Akhmadi, Kelvin Mardha Sofyan, I. Suhendra, Pihri Buhaerah","doi":"10.55493/5002.v13i7.4801","DOIUrl":"https://doi.org/10.55493/5002.v13i7.4801","url":null,"abstract":"This study examined the response of the residential property price index (RPPI) to monetary policy shocks. The analysis utilized a panel vector autoregressive (VAR) estimation covering the markets of 12 emerging countries over a quarterly period from 2000 Q1 to 2022 Q4. In a dynamic data model, the panel VAR estimation could be biased when the coefficients of the endogenous variables differ across countries. The results of the pooling assumption showed that the models contain heterogeneity among samples, indicating the need for a solution to address this problem. Consequently, a mean group estimation for the panel VAR was performed to resolve the heterogeneity issue. The residential property price index negatively responded to changes in housing loan (HL) and central bank (CB) interest rates. In contrast, it positively responded to changes in inflation, gross domestic product, and population. This research provided policymakers with recommendations on emerging market demand. To successfully interfere in the property market, policymakers must pay greater attention to formulating monetary policy, notably central bank interest rates. A steady central bank policy rate prevents growth in the property sector. Future research should include macroprudential policy as an endogenous component in the model.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85805192","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

Determinants of farm investment in Somalia: A var model application 索马里农业投资的决定因素:var模型的应用

Asian Economic and Financial Review Pub Date : 2023-05-19 DOI: 10.55493/5002.v13i6.4795

A. Nur

{"title":"Determinants of farm investment in Somalia: A var model application","authors":"A. Nur","doi":"10.55493/5002.v13i6.4795","DOIUrl":"https://doi.org/10.55493/5002.v13i6.4795","url":null,"abstract":"The main objective of this study is to examine the determinants of farm investment in Somalia using quarterly time-series data from 2015 to 2021. The study selected financing assets (FA), farm output (FO), credit for commercial banks (CCB), and saving (S) as macroeconomic variables. The augmented Dickey–Fuller (ADF) test was employed to evaluate the stationarity of the variables, and the Granger causality test was used to assess the causal relationship between the study variables. It was found that all variables became stationary at the second difference, with a trend for each of the three critical levels of 1%, 5%, and 10%. The Granger causality test indicates a unidirectional causal connection between farm investment, farm output, financial assets for commercial banks, savings for commercial banks, and loans for commercial banks in Somalia. The vector autoregressive (VAR) estimation revealed that the coefficient of determination explains 98% of the model, and the ordinary least squares (OLS) estimation showed a highly significant P-value. The results show that financing assets and savings will increase farm output if managed effectively and efficiently. Based on the findings, the study recommends that the government focus on the overall institutional framework in Somalia to facilitate economic growth, poverty reduction, and sustainable development.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75018562","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

Ownership concentration, sustainability practices, and cost of debt: Evidence from ASEAN countries 股权集中度、可持续性实践与债务成本:来自东盟国家的证据

Asian Economic and Financial Review Pub Date : 2023-05-19 DOI: 10.55493/5002.v13i6.4796

C. Sukmadilaga, Maria Ervina Permatasari Santoso, E. Ghani

{"title":"Ownership concentration, sustainability practices, and cost of debt: Evidence from ASEAN countries","authors":"C. Sukmadilaga, Maria Ervina Permatasari Santoso, E. Ghani","doi":"10.55493/5002.v13i6.4796","DOIUrl":"https://doi.org/10.55493/5002.v13i6.4796","url":null,"abstract":"This study examines the effect of ownership concentration on sustainability practices and the cost of debt. Subsequently, this study examines whether the performance of sustainability practices influences the cost of debt of public listed companies in three ASEAN countries. This study performed a content analysis on the annual reports of 93 public listed companies in Singapore, Malaysia, and Indonesia. The data analysis showed that ownership concentration has a significant negative effect on the cost of debt but no significant effect on sustainability practices. It also showed that there is a significant negative effect of sustainability practices on the cost of debt. Such findings could be attributed to the differences in business relationships between investors and companies and the non-linear relationship between ownership concentration and sustainability practices. This study provides evidence that both ownership concentration and sustainability practices negatively affect the cost of debt of the public listed companies. From the findings, it is recommended that public listed companies should refocus and strategize ways to mitigate the negative effect of ownership concentration and sustainability practices on the cost of debt, particularly in developing countries.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81675566","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