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The Role of Intangible Capital Investment and Intangible Assets in Improving Competitiveness 无形资本投资和无形资产在提高竞争力中的作用
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.2.124
M. Csath
{"title":"The Role of Intangible Capital Investment and Intangible Assets in Improving Competitiveness","authors":"M. Csath","doi":"10.33893/fer.22.2.124","DOIUrl":"https://doi.org/10.33893/fer.22.2.124","url":null,"abstract":"Based on international literature and data, this essay examines the conditions for improving competitiveness in Hungary in relation to intangible assets and capital investment. The link between productivity – as the basis for competitiveness – and intangible capital investment is also discussed. The essay argues that, although there is no consensus on the interpretation of the concepts examined and further analysis and modelling are needed, the relationships presented suggest that higher levels of intangible asset and capital investment would contribute to improving the productivity and competitiveness of the Hungarian economy. First, because this would improve the overall operational efficiency of tangible investments, and second, because it would support the transition to a knowledge economy, the key condition for boosting competitiveness.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87443530","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: 1
Fair Value of Retail Loans: Are We Following IFRS9 or Misinterpreting It? 零售贷款的公允价值:我们是遵循IFRS9还是误读它?
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.1.77
E. Gulyas, Márton Miklós Rátky
{"title":"Fair Value of Retail Loans: Are We Following IFRS9 or Misinterpreting It?","authors":"E. Gulyas, Márton Miklós Rátky","doi":"10.33893/fer.22.1.77","DOIUrl":"https://doi.org/10.33893/fer.22.1.77","url":null,"abstract":"This study examines the accounting treatment applied to retail loans using a multiplication factor of 1.3. Answers are sought to the following questions: What is the correct IFRS accounting treatment of loans with a 1.3 multiplication factor in their interest rate, which have appeared in the Hungarian banking sector since 2016? Does the sector report these loans correctly? Is there a possibility for substancebased accounting treatment? How does the different accounting treatment of identical loan types affect the comparability of banks’ financial statements? After discussing the results from the literature and presenting the main features of the loans under review, the methodology of the study is described, before turning to the dilemmas and consequences of the accounting treatment. In this context, the IFRS requirements applicable when choosing the measurement principle for the loans concerned are also analysed. After drawing the conclusions, the paper argues in favour of measurement at amortised cost.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87834481","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
Traditional versus AI-Based Fraud Detection: Cost Efficiency in the Field of Automobile Insurance 传统与人工智能欺诈检测:汽车保险领域的成本效率
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.2.77
Botond Benedek, Bálint Zsolt Nagy
{"title":"Traditional versus AI-Based Fraud Detection: Cost Efficiency in the Field of Automobile Insurance","authors":"Botond Benedek, Bálint Zsolt Nagy","doi":"10.33893/fer.22.2.77","DOIUrl":"https://doi.org/10.33893/fer.22.2.77","url":null,"abstract":"Business practice and various industry reports all show that automobile insurance fraud is very common, which is why effective fraud detection is so important. In our study, we investigate whether today’s widespread AI-based fraud detection methods are more effective from a financial (cost-effectiveness) point of view than methods based on traditional statistical-econometric tools. Based on our results, we came to the unexpected conclusion that the current AI-based automobile insurance fraud detection methods tested on a real database found in the literature are less cost-effective than traditional statistical-econometric methods.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81255615","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 Climate Risks with Indirect Emissions 用间接排放衡量气候风险
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.1.57
Orsolya Szendrey, Mihály Dombi
{"title":"Measuring Climate Risks with Indirect Emissions","authors":"Orsolya Szendrey, Mihály Dombi","doi":"10.33893/fer.22.1.57","DOIUrl":"https://doi.org/10.33893/fer.22.1.57","url":null,"abstract":"Climate change poses completely new challenges for the financial markets, and thus the consideration of green aspects is becoming explicitly required by regulators and investors. Most of the reports which influence the market in this way evaluate the climate or environmental impact of a product or process based on their alignment with a regulatory standard. However, the methods applied for measurement do not always provide a proper description of the relationship between the investments and the natural resources. Most analyses evaluate investments related to economic sectors based exclusively on direct emissions, while indirect impacts, which represent a substantial part of total emissions, are not taken into account. In the study, the methods and results which are currently applied are compared to calculations including indirect impacts as well.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"59 2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86517026","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 Reasons Behind Banking Crises and their Real Economy Impact : Achievements of the 2022 Nobel Laureates in Economics 银行业危机背后的原因及其对实体经济的影响:2022年诺贝尔经济学奖得主的成就
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.1.126
Balázs Világi
{"title":"The Reasons Behind Banking Crises and their Real Economy Impact : Achievements of the 2022 Nobel Laureates in Economics","authors":"Balázs Világi","doi":"10.33893/fer.22.1.126","DOIUrl":"https://doi.org/10.33893/fer.22.1.126","url":null,"abstract":"In 2022, the Nobel Prize in economics was awarded jointly to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig, for their research on the financial system that shed light on the reasons for, and the consequences of, bank panics. Diamond and Dybvig showed that the banking system provides socially useful services through maturity transformation and delegated monitoring, and they also pointed out that maturity transformation made the banking system fundamentally vulnerable, which, if left unregulated, may experience bank panics. Bernanke demonstrated the macroeconomic significance of the banking system and analysed the negative macroeconomic impact of bank panics. Their research helped lay the foundations of a regulatory environment that fosters the efficient functioning of the financial system without bank panics.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83375260","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: 1
Household Loan Repayment Difficulties after the Payment Moratorium : Hungarian Experience from the Covid-19 Pandemic 暂停还款后的家庭贷款偿还困难:匈牙利从Covid-19大流行中的经验
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.1.21
Á. Aczél, Nedim Márton El-Meouch, Gergely Lakos, Balázs Spéder
{"title":"Household Loan Repayment Difficulties after the Payment Moratorium : Hungarian Experience from the Covid-19 Pandemic","authors":"Á. Aczél, Nedim Márton El-Meouch, Gergely Lakos, Balázs Spéder","doi":"10.33893/fer.22.1.21","DOIUrl":"https://doi.org/10.33893/fer.22.1.21","url":null,"abstract":"We examine the relationship between the widespread, long-lasting debt forbearance on household loans introduced in Hungary at the outbreak of the coronavirus pandemic and subsequent loan repayment difficulties. We estimate linear probability and logit models at the contract level. Although our method is not suitable for identifying causal effects, participation in the moratorium proves to be a strong predictor of subsequent defaults. This is true even if we take into account the wide range of relevant factors observed at the end of the general moratorium period (October 2021). Our main results show that contracts which left the general moratorium at the end of the moratorium and, within this, those that took full advantage of the programme, were on average 3.2 and 4.2 percentage points more likely to become non-performing in September 2022 than those that never participated in the moratorium. This relationship can explain almost half of the differences in default rates between the respective groups.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"64 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84008781","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 Concept of Financial Stability in Theory and Law 金融稳定的理论与法律概念
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.2.54
János Kálmán
{"title":"The Concept of Financial Stability in Theory and Law","authors":"János Kálmán","doi":"10.33893/fer.22.2.54","DOIUrl":"https://doi.org/10.33893/fer.22.2.54","url":null,"abstract":"State intervention in the functioning of the economy is necessarily based on some public interests, which may serve as a reason for restrictive state action against the individual, or their freedoms and rights. In legislation, financial stability can be identified as a form of public interest, whereby the need to define the substance of the concept is expressed as an expectation towards the legislator, all the more so because it forms the basis of significant administrative intervention of the public authority type. The study analyses how the concept of financial stability appears in the literature, in legislation and in legal enforcement. Although the concept of financial stability is strongly reflected in the theoretical literature and even in legislation and legal enforcement, its substance is difficult to capture and has evolved constantly. In view of the above, the author offers a definition for the general legal concept of financial stability.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88010056","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
An Empirical Analysis of the Predictive Power of European Yield Curves 欧洲收益率曲线预测能力的实证分析
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.3.48
Marcell Péter Granát, Gábor Neszveda, Dorottya Szabó
{"title":"An Empirical Analysis of the Predictive Power of European Yield Curves","authors":"Marcell Péter Granát, Gábor Neszveda, Dorottya Szabó","doi":"10.33893/fer.22.3.48","DOIUrl":"https://doi.org/10.33893/fer.22.3.48","url":null,"abstract":"For various reasons, the yield curve of government bonds serves as a reliable predictor of recessions in the US. This study provides an empirical analysis of whether there is such a relationship in European countries. The methodological framework employed in this study encompasses the utilisation of the Hodrick– Prescott filter in conjunction with a probit model. The modelling procedure in the literature is extended by optimally combining government bond maturity spreads and examining whether the results are also robust for European yield curves. The main finding of the paper is that in the US the spreads calculated from the yield of 7-year and 1-year government bonds are the best predictors, and they are similarly suitable for predicting economic crises in half of the European countries as well.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135839477","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 Uptake of Green Finance Tools in Agriculture : Results of a Q-methodology 绿色金融工具在农业中的应用:q方法的结果
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.2.99
Anett Parádi-Dolgos, Tibor Bareith, László Vancsura, Arnold Csonka
{"title":"The Uptake of Green Finance Tools in Agriculture : Results of a Q-methodology","authors":"Anett Parádi-Dolgos, Tibor Bareith, László Vancsura, Arnold Csonka","doi":"10.33893/fer.22.2.99","DOIUrl":"https://doi.org/10.33893/fer.22.2.99","url":null,"abstract":"In this period of climate change, green finance is expected to have complex consequences to address economic and environmental risks by improving the profitability of individual activities. There are clearly identifiable areas of green development in agriculture that require such funding. Our research investigates the effectiveness of green finance tools in financing the sustainable development of the pig sector, a key agricultural sub-sector. The results of a Q-methodology study carried out with actors in the product chain showed that green finance is an unknown area for them. They are uncertain and pessimistic about whether and to what extent green finance tools can contribute to the development of the sector, but all share the view that sustainable investment in the sector may require public intervention. The use of economic policy instruments may therefore be necessary to make a sector-specific green finance programme a success.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"139 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76602732","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 Systemic Risks and Regulation of BigTech : “Too Big(Tech) to Fail? 大型科技公司的系统性风险与监管:“大到不能倒?”
Asian Economic and Financial Review Pub Date : 2023-01-01 DOI: 10.33893/fer.22.1.5
Roland Bódi, Péter Fáykiss, Ádám Nyikes
{"title":"The Systemic Risks and Regulation of BigTech : “Too Big(Tech) to Fail?","authors":"Roland Bódi, Péter Fáykiss, Ádám Nyikes","doi":"10.33893/fer.22.1.5","DOIUrl":"https://doi.org/10.33893/fer.22.1.5","url":null,"abstract":"When it comes to systemically important financial institutions, people usually think of banks, insurers or financial holding companies, but large technology firms (socalled BigTech) are increasingly part of this category. This paper examines regulatory approaches with which the systemic importance of BigTech firms in financial services could be addressed. According to the analysis, of the three regulatory frameworks identified in the literature (“restriction”, “segregation”, “inclusion”), when a balanced approach is used, the segregation of financial and non-financial activities seems to be the most promising regulatory solution, as this model works best for taking account of the practical aspects of operation, regulation and supervision.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83208369","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
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