Asia-Pacific Financial Markets最新文献_第5页

The Indirect Diversification Benefits of Investing in Japanese Firms: An Alternative Perspective 投资日本公司的间接多元化收益：另一种视角

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-03-18 DOI: 10.1007/s10690-024-09448-9

Pearlean Chadha, Jenny Berrill

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引用次数: 0

Assessing the Impact of Policy Uncertainty, Geopolitical Risk, and Sustainable Disclosure on Corporate Performance 评估政策不确定性、地缘政治风险和可持续信息披露对公司业绩的影响

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-03-14 DOI: 10.1007/s10690-024-09450-1

Siddhartha Barman, Jitendra Mahakud

引用次数: 0

Economic Freedom, Ownership Structure, and SME Financial Fragility: Evidence from an Emerging Economy 经济自由度、所有权结构和中小企业财务脆弱性：来自新兴经济体的证据

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-02-28 DOI: 10.1007/s10690-023-09438-3

Anh-Tuan Doan

{"title":"Economic Freedom, Ownership Structure, and SME Financial Fragility: Evidence from an Emerging Economy","authors":"Anh-Tuan Doan","doi":"10.1007/s10690-023-09438-3","DOIUrl":"10.1007/s10690-023-09438-3","url":null,"abstract":"<div><p>This paper examines the impact of economic freedom on the financial fragility of 1,496 non-financial SMEs in Vietnam over the period 2012–2020. We also evaluate the effect of ownership structure on the relationship between economic freedom and financial fragility. Our findings provide evidence that an increase in the degree of aggregated economic freedom and its categories – rule of law, regulatory efficiency, and market openness – help firms reduce the level of financial fragility. However, an increased government size tends to worsen their financial risk. Regarding the impact of ownership, our results reveal that greater rule of law, regulatory efficiency, and market openness have a positive influence on foreign-owned firms, enabling them to maintain lower levels of financial fragility compared to non-foreign-owned firms. However, foreign-owned firms experience a higher level of financial fragility relative to domestically private-owned firms due to increased government size. Furthermore, our analysis indicates that there is no difference in the effect of economic freedom on financial fragility between state-owned and non-state-owned firms in Vietnam. This finding has implications for recognizing the importance of foreign ownership and economic freedom in emerging markets. It also encourages foreign shareholders to design appropriate policies to mitigate financial risk.</p></div>","PeriodicalId":54095,"journal":{"name":"Asia-Pacific Financial Markets","volume":"31 4","pages":"975 - 1006"},"PeriodicalIF":2.5,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140003265","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

Nonlinear Relationship Between Investor Sentiment and Conditional Volatility in Emerging Equity Markets 新兴股票市场投资者情绪与条件波动之间的非线性关系

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-02-28 DOI: 10.1007/s10690-024-09449-8

Rameeza Andleeb, Arshad Hassan

{"title":"Nonlinear Relationship Between Investor Sentiment and Conditional Volatility in Emerging Equity Markets","authors":"Rameeza Andleeb, Arshad Hassan","doi":"10.1007/s10690-024-09449-8","DOIUrl":"10.1007/s10690-024-09449-8","url":null,"abstract":"<div><p>The present study aims to identify the non-linear relationship of bullish and bearish investor sentiment with conditional volatility. It is conducted in emerging equity markets of Brazil, India, Pakistan, Russia, Indonesia, South Africa, and China. The data regarding share prices, shares outstanding, and trading volume is collected from the representative indices for a period from 2001 to 2020. Investor Sentiment Index is constructed using Principal Component Analysis and decomposed into bullish and bearish investor sentiment. The GARCH model is applied to generate conditional volatility and the Non-linear Auto Regressive Moving Average model is applied to analyze the asymmetric relationship between conditional volatility and investor sentiment at the country level. The Panel GARCH model is applied to generate conditional volatility for panel data, and the Non-linear Dynamic Auto Regressive Moving Average model is applied to investigate the nonlinear relation of investor sentiment with volatility. Bullish and bearish investor sentiments show a significant effect in generating conditional volatility in the markets in both linear as well as nonlinear settings.</p></div>","PeriodicalId":54095,"journal":{"name":"Asia-Pacific Financial Markets","volume":"32 1","pages":"147 - 165"},"PeriodicalIF":2.5,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140423515","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 Asymmetric Interaction Between Oil Price Change and Stock Returns of the Renewable Energy Companies in India: A Panel NARDL Approach 油价变化与印度可再生能源公司股票回报之间的不对称互动：面板 NARDL 方法

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-02-14 DOI: 10.1007/s10690-024-09447-w

Lalatendu Mishra, Rajesh H. Acharya

引用次数: 0

Can Corporate Governance and Sustainability Policies Drive CSR Performance? An Empirical Study 公司治理和可持续发展政策能否推动企业社会责任绩效？实证研究

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-02-14 DOI: 10.1007/s10690-024-09446-x

Ankita Nandi, Nidhi Agarwala, Tarak Nath Sahu

引用次数: 0

Does Innovation Relieve Corporate Financial Distress? 创新能否缓解企业的财务困境？

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-01-25 DOI: 10.1007/s10690-023-09445-4

Keming Li

引用次数: 0

The Role of Real Exchange Rate in India’s Service Export: Do Remittances Inflows Matter in Post Liberalization-Era? 实际汇率在印度服务出口中的作用：汇款流入在后自由化时代是否重要？

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2024-01-08 DOI: 10.1007/s10690-023-09444-5

Shreya Pal, Mantu Kumar Mahalik

{"title":"The Role of Real Exchange Rate in India’s Service Export: Do Remittances Inflows Matter in Post Liberalization-Era?","authors":"Shreya Pal, Mantu Kumar Mahalik","doi":"10.1007/s10690-023-09444-5","DOIUrl":"10.1007/s10690-023-09444-5","url":null,"abstract":"<div><p>This study assesses the effects of real exchange rate and remittance inflows on India's total service exports, comprising traditional and modern service exports, spanning the annual data from 1990 to 2020. The control variables for the service export function include developments in the banking sector and the stock market and net inflows of foreign direct investment. The ARDL model is the estimating technique of the present study. The real exchange rate has an adverse effect on total, traditional, and modern service exports, according to the long-run outcomes of the ARDL model. Remittance inflows are interestingly shown to support modern service exports while impeding total and traditional service exports. The growth of the banking sector is beneficial for traditional and total service exports, but it has a negative impact on modern service exports. All service exports are benefited by stock market development; however, net FDI inflows negatively impact all forms of service exports. Based on these results, the policymakers in India are advised to maximize the effective utilization of remittance inflows in traditional service exports. Additionally, proactive intervention by the central bank is recommended to mitigate the adverse effects of the real exchange rate on traditional and modern service exports. This study also provides valuable insights for the policymakers and practitioners seeking to enhance India's service export performance while navigating the complexities of real exchange rates, remittance inflows, and financial factors.</p></div>","PeriodicalId":54095,"journal":{"name":"Asia-Pacific Financial Markets","volume":"32 1","pages":"19 - 39"},"PeriodicalIF":2.5,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s10690-023-09444-5.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139397438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Spillover Effect of Green Bond with Metal and Bullion Market 绿色债券对金属和金银市场的溢出效应

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2023-12-29 DOI: 10.1007/s10690-023-09443-6

Kajal Panwar, Miklesh Prasad Yadav, Neha Puri

引用次数: 0

The Impacts of Policy Uncertainty on Asset Prices: Evidence from China’s Market 政策不确定性对资产价格的影响：来自中国市场的证据

IF 2.5

Asia-Pacific Financial Markets Pub Date : 2023-12-29 DOI: 10.1007/s10690-023-09442-7

Yunpeng Su, Jia Li, Baochen Yang, Yunbi An

引用次数: 0