Journal articles: 'Finance|Economics'

1

SUMMERS, LAWRENCE H. "On Economics and Finance." Journal of Finance 40, no. 3 (July 1985): 633–35. http://dx.doi.org/10.1111/j.1540-6261.1985.tb04985.x.

Full text

APA, Harvard, Vancouver, ISO, and other styles

2

Block, Walter, William Barnett, and Stuart Wood. "Austrian economics, neoclassical economics, marketing, and finance." Quarterly Journal of Austrian Economics 5, no. 2 (June 2002): 51–66. http://dx.doi.org/10.1007/s12113-002-1012-9.

Full text

APA, Harvard, Vancouver, ISO, and other styles

3

Wanjala, Kevin. "The Economic Impact Assessment of the Novel Coronavirus on Tourism and Trade in Kenya: Lessons from Preceding Epidemics." Finance & Economics Review 2, no. 1 (May 7, 2020): 1–10. http://dx.doi.org/10.38157/finance-economics-review.v2i1.57.

Full text

Abstract:

Purpose: This paper aims to assess the impact of contemporary Coronavirus Pandemic on tourism and trade with its potential implications on the Kenyan economy. Method: The study considered the cases of Severe Acute Respiratory Syndrome (SARS), Middle East Respiratory Syndrome (MERS) and Ebola epidemics to provide an understanding of the possible impacts that the novel coronavirus pandemic could have on the economy. Results: This study established that the demand and supply shocks of the pandemic will inevitably impact Kenya’s economy specifically, the tourism and trade sectors. The Kenyan government has imposed several measures in an attempt to combat the spread of the coronavirus and cushion the country against a possible economic downturn. The study established that the policies imposed have largely focused on demand shock management. Implications: To effectively minimize the impacts of the pandemic shocks on the economy, it will be prudent for the Kenyan government to design policy responses with a blend of short term and long term orientations. The policies should be multifaceted and their design should involve stakeholders from all the relevant sectors.

APA, Harvard, Vancouver, ISO, and other styles

4

Wanjala, Kevin, and David Riitho. "Internal Control Systems Implementation and Fraud Mitigation Nexus among Deposit Taking Saccos in Kenya." Finance & Economics Review 2, no. 1 (May 7, 2020): 11–29. http://dx.doi.org/10.38157/finance-economics-review.v2i1.59.

Full text

Abstract:

Purpose: This paper analyses the relationship between the implementation of internal control and fraud mitigation among the savings and credit cooperatives societies (Saccos) in Kenya. Methodology: To achieve the objective, specific variables were formulated based on the five components of internal control model. Particularly, the research focuses on the effect of control environment, control activities, monitoring, information and communication, and risk assessment, on fraud mitigation. Data was collected through the use of a structured questionnaire. Ordinary Least Square Regression approach was used for analysis. Results: The data analysis found that all the mentioned variables significantly affect fraud mitigation among Saccos in Kenya. Implications: The analysis highlighted that there is a need for Saccos to strive and implement internal control systems to a higher extent to cure the persistent problem of fraud that they grapple with. The analysis also recommends that Saccos should institute proper mechanisms to provide adequate checks during staff recruitment, install adequate security, provide regulation of valuable information access, they should also conduct regular monitoring of third party links with personnel as measures to mitigate fraud.

APA, Harvard, Vancouver, ISO, and other styles

5

Alayemi, Sunday, and Hussain Adebayo Salaudeen. "Strategic Role of Efficiency to Cash Management." Finance & Economics Review 2, no. 1 (May 17, 2020): 30–44. http://dx.doi.org/10.38157/finance-economics-review.v2i1.63.

Full text

Abstract:

Purpose: The study aims to examine the strategic role of efficiency to cash management, more specifically as it relates to cash generated from operations of manufacturing companies in Nigeria. Method: Annual cash flow statements of selected manufacturing companies in Nigeria for ten years (2009 -2018) were used to conduct the Pooled Test, Random Test, Fixed Effect, and Hausman Test. Results: The results showed that efficiency has a significant effect on the cash management of manufacturing companies in Nigeria generally coupled with that of the proxies employed (CULC, LTDC, INTC, and EARQ) to measure cash management. Implications: In view of the empirical evidence, the study proffered that cash generated from the operation is very crucial and the most reliable means of generating funds for operation because it is internal; unlike funds generated from investing and financing activities.

APA, Harvard, Vancouver, ISO, and other styles

6

Agbada, Andrew Omosioni. "Appraising Financial Development Indicators and Capital Market Performance." Finance & Economics Review 2, no. 1 (May 22, 2020): 45–62. http://dx.doi.org/10.38157/finance-economics-review.v2i1.79.

Full text

Abstract:

This study appraised empirically Financial Development Indicators (FDIs) and Capital Market Performance in Nigeria. While Financial Depth, Financial Access and Financial Efficiency served as proxy for FDIs and independent variable; Market Capitalization was used as proxy for Capital Market Performance and the dependent variable. Primary data were sourced employing Survey design and analyzed using Pearson Product-Moment Correlation Coefficient, (PPMCC) technique denoted by ‘r’. The robustness of findings which showed that hypotheses one (H01) and two (H02) exhibited high coefficients and passed the test of significance led us to conclude that the variables: Financial Depth and Financial Access are relevant to policies formulated to affect Market Capitalization in Nigeria. However, hypothesis three (H03) portends rather low results suggesting that though a positive relationship exists between Financial Efficiency and Market Capitalization, the strength of relationship is moderate and cannot be considered too relevant to policies formulated to affect Market Capitalization in Nigeria. We therefore recommend that financial sector authorities and stakeholders should ensure that innovative facilities and policies that enable access to finance; that give ability to financial markets to imbibe large trade volumes be put instituted to facilitate proper development of the sector and that serious attention should be given to on-the-job-training, retraining and financial courses for employees to acquire industry knowledge of the job in order to enhance their performance.

APA, Harvard, Vancouver, ISO, and other styles

7

Ozekhome, Hassan. "International Trade Costs and Trade Flows: Evidence from the West African Monetary Zone (WAMZ)." Finance & Economics Review 2, no. 1 (May 22, 2020): 63–76. http://dx.doi.org/10.38157/finance-economics-review.v2i1.80.

Full text

Abstract:

Purpose: The study examines the effect of international trade costs on trade flows in the West African Monetary Zone (WAMZ), a sub-regional economic bloc within the Economic Community of West African States (ECOWAS). Method: Six member countries of the WAMZ, based on data availability, are examined using panel data estimation technique and the Fully Modified Ordinary Least squares (FMOLS), which is employed to test for the robustness of results, for the sample period of 2006-2018. Results: The study finds a negative and significant effect of international trade costs on trade flows in the WAMZ sub-region. Time to trade is also found to be negatively and significantly related to trade. Exchange rate, financial development (measured by commercial banks' credit to the private sector), and real GDP growth rate (a measure of growth in annual national income/economic size) have a positive and significant impact on trade in the sub-region. The study further finds evidence that the ease of doing business is positively related to trade in the sub-region, but the impact is weak. Implications: In the light of the empirical findings, the study recommends that policy measures and strategies to reduce international trade costs and time to trade through simplified and harmonized trade procedures be implemented in the sub-region. Policies to encourage domestic investment (i.e increase capital stock) and rapid development of the financial sector should also be implemented. These should be supported with sound and stable macroeconomic exchange rate management policies, in order to enhance trade and integration in the sub-region.

APA, Harvard, Vancouver, ISO, and other styles

8

Husain, T., Sarwani, Nardi Sunardi, and Lisdawati. "Firm's Value Prediction Based on Profitability Ratios and Dividend Policy." Finance & Economics Review 2, no. 2 (June 18, 2020): 13–26. http://dx.doi.org/10.38157/finance-economics-review.v2i2.102.

Full text

Abstract:

Purpose: This study aims to empirically prove the research framework regarding the Firm’s Value based on Profitability Ratios associated with Dividend Policy. The firm's Value is measured using a Price-to-Book Value (PBV) Approach. Methods: This study included a sample of 11 firms under the automotive and components sib sector listed in the Indonesia Stock Exchange. It included data for the period of 2014-2018. This study applied path analysis using the Sobel test of the direct and indirect effects using IBM SPSS 23.0. Results: The study finds that Profitability Ratios has no significant effect on the Dividend Policy, while the Dividend Policy has no significant effect on Firm's Value too. However, the Dividend Policy does not mediate the effect of Profitability Ratios on the Firm's Value. Implications: This study could be extended further by considering all listed firms of IDX which may provide us more insights into the measurement of the financial ratios in the context of Indonesia.

APA, Harvard, Vancouver, ISO, and other styles

9

Wanjala, Kevin, and Pamella Gogo. "The Effect of Financial Deepening on Economic Growth in the East African Community." Finance & Economics Review 2, no. 2 (August 26, 2020): 55–73. http://dx.doi.org/10.38157/finance-economics-review.v2i2.121.

Full text

Abstract:

Purpose: The study’s objective is to determine the effect of financial deepening on the economic growth of the East Africa Community bloc. Specifically, it aims to establish the effect of the rate of broad money, credit to the private sector, and the rate of value of the traded stock on economic growth. Methodology: The study used descriptive research design and employed the fixed effect model in regression analysis. Broad money was used to proxy the rate of money supply, credit to the private sector was used to represent credit financing while the volume of the traded stock was used as a measure for financial market investment. Results: The findings revealed that all three indicators of financial deepening namely, broad money, credit to the private sector, and volume of traded stock had a positive and significant effect on economic growth in East Africa Community. The coefficient for broad money was 0.4410, the coefficient for credit to the private sector was 0.4022, while the coefficient for the volume of the traded stock was 0.1367. The model had an F statistic of 103.50, confirming its suitability. Implications: The study recommends that the East Africa Community governments should place more emphasis on the efficiency and of money supply, investment, and distribution by commercial banks. The study also recommends that the governments of East Africa Community countries should continue pursuing policies that promote access to credit such as ensuring that interest rates are low. Additionally, the capital market authorities of the East Africa Community countries should conduct sensitization campaigns to promote high participation in the stock market and other capital market products.

APA, Harvard, Vancouver, ISO, and other styles

10

Obayori, Joseph Bidemi, and George-Anokwuru Chioma Chidinma B. "Global Financial Crisis and the Nigerian Capital Market." Finance & Economics Review 2, no. 2 (August 6, 2020): 27–38. http://dx.doi.org/10.38157/finance-economics-review.v2i2.133.

Full text

Abstract:

Purpose: This paper examined the impact of the global financial crisis on the capital market in Nigeria from 1980-2018. It specifically aimed to determine the impact of the currency crisis and liquidity crisis on the capital market in Nigeria. Methods: The study was time series data based. Data were generated from the Central Bank of Nigeria Statistical Bulletin. The variables were subjected to descriptive statistics and the 'Augmented Dickey-Fuller' (ADF) unit root test prior to the 'Auto-Regressive Distributed Lag' (ARDL) model. Results: The outcome of descriptive statistics demonstrated that the parameters were not normally distributed. Also, the ADF unit root test demonstrated that one of the parameters was stationary at I(0) while the remaining two were stationary at I(1). Based on the ARDL results, it was observed that in the short run, the financial crisis has an indirect influence on the performance of Nigerian capital markets. Liquidity crisis, a proxy for the depletion of external reserves has a strong influence on the capital market. The long-run result showed that there is a long-run association amongst the variables. Implications: In view of these findings, the paper recommends that the government should fine-tune its policy mix to ensure that the capital market and the economy do not suffer from the global economic crisis as it takes place.

APA, Harvard, Vancouver, ISO, and other styles

11

Chukwuemeka, Ehirm Nnamdi, and Emeka Emmanuel Osuji. "Demand Analysis for Solid Fuel and Its Substitutes as Domestic Energy in Imo State, Nigeria." Finance & Economics Review 2, no. 2 (August 18, 2020): 39–54. http://dx.doi.org/10.38157/finance-economics-review.v2i2.141.

Full text

Abstract:

Purpose: This study aims to model the demand analysis for solid fuel and its substitute for domestic cooking energy among households in Imo State. Methods: Data on socio-economic characteristics of the respondents, monthly expenditure on energy used for domestic cooking, unit prices, and quantity of different energy sources were collected using a multi-stage sampling technique from 262 households I Imo State. Data were analyzed using descriptive, quartile distribution and QUAIDS inferential statistics to achieve the objectives of the study. Results: The empirical analysis of the demand for household energy usage revealed that the quadratic expenditure term is statistically significant in firewood, sawdust, and wood-shaving expenditure share equations. It implies that their null hypothesis of expenditure linearity is strongly rejected. Furthermore, the prices and demographics of the household head significantly influence the budget shares of the different energy used. Expenditure elasticity of all the energy sources are elastic. Own price (Marshallian and Hicksian) of firewood, sawdust, and kerosene are price elastic while charcoal and wood-shaving are price inelastic. The Uncompensated Marshallian's cross elasticity of almost all energy sources are complementary. However, the result of the compensated- Hicksian's cross elasticity values indicated that almost all the energy uses are substitutable except for firewood – charcoal, firewood-wood shaving, firewood-kerosene, and sawdust-wood shaving that are complementary. Implications: The result indicates that the timber products and its substitutes demand domestic cooking follow both energy ladder and stacking principles as households can quickly switch to a better energy source at the same time exhibit their dynamism in the ability to combine both traditional and modern fuels to meet their domestic energy needs based on price and affordability. The study, therefore, recommends that younger females in the household should be targeted in demonstrating the demand for cleaner energy using educational facilities and reduction in unit prices of such energy in the area.

APA, Harvard, Vancouver, ISO, and other styles

12

OBAYORI, JOSEPH BIDEMI. "Government Expenditure and Economic Discomfort in Nigeria." Finance & Economics Review 2, no. 2 (June 18, 2020): 1–12. http://dx.doi.org/10.38157/finance-economics-review.v2i2.89.

Full text

Abstract:

Purpose: Government expenditure affects the behavior of both producers and consumers, and influence the distribution of income and wealth in the economy. But, a cursory look at government expenditure (recurrent and capital) in Nigeria over the year, showed that expenditure has been on the increase but the rate of increase has not translated into economic comfort (reduction in poverty and unemployment rates). Due to this assumption, this paper examined government expenditure and economic discomfort in Nigeria. Methods: Annual time-series data from 1990-2018 were obtained from the CBN Statistical Bulletin (various issues) and the World Bank report. The descriptive statistics, ADF unit root test, and ARDL model serves as the analytical tools. Results: Based on the empirical result, the paper concluded that government capital expenditure has a negative and significant relationship with economic discomfort. On the other hand, government recurrent expenditure is positively and insignificantly related to economic discomfort. Implications: This result implies that while the increase in capital expenditure will depress economic discomfort, an increase in the recurrent component of the expenditure will not help to reduce economic discomfort. Based on these conclusions, the paper recommended amongst others that more government capital spending should be encouraged as it plays a critical role in reducing both poverty and unemployment rates in Nigeria.

APA, Harvard, Vancouver, ISO, and other styles

13

Ubesie, Cyril Madubuko, Amalachukwu Ananwude, Ezechi Nwanekpe Cyracus, and Ebe Emmanuel. "Does Fiscal Policy Tools have the Potential to Stimulate Performance of Manufacturing Sector in Nigeria?" Finance & Economics Review 2, no. 3 (October 1, 2020): 33–51. http://dx.doi.org/10.38157/finance-economics-review.v2i3.163.

Full text

Abstract:

Purpose: There is no denying the fact that the Nigerian manufacturing sector is not performing up to the expectation. The poor performance of the manufacturing sector is attributed largely to the poor state of basic infrastructures, especially power supply, and good road networks. To this end, this study examined the potential of fiscal policy to stimulate manufacturing sector performance in Nigeria. Methods: The model estimation employed the Ordinary Least Square (OLS) estimation technique, while the effect of estimation was carried out using the Granger causality test based on the data from the Central Bank of Nigeria (CBN) and Federal Inland Revenue Service (FIRS) for the period of 1986 to 2019. Results: The result of the analysis revealed that recurrent expenditure has no significant effect on manufacturing sector performance. However, capital expenditure, fiscal deficit, and the company’s income tax significantly affect manufacturing sector performance. Implications: The Federal, State, and Local governments should stop wasteful expenditure on unnecessary entertainment on meetings, seminars, workshops, foreign trips, etc. to increase spending on basic industrial infrastructures, most importantly on the power supply and road network to stimulate the manufacturing sector performance.

APA, Harvard, Vancouver, ISO, and other styles

14

Sajuyigbe, Dr Ademola Samuel, Tajudeen A. Odetayo, and Adewumi Z. Adeyemi. "Financial Literacy and Financial Inclusion as Tools to Enhance Small Scale Businesses’ Performance in Southwest, Nigeria." Finance & Economics Review 2, no. 3 (September 24, 2020): 1–13. http://dx.doi.org/10.38157/finance-economics-review.v2i3.164.

Full text

Abstract:

Purpose: The study sought to examine the impact of financial literacy and financial inclusion on small businesses’ overall performance with special reference to Southwest Nigeria. Methods: Descriptive survey research sketch was adopted for this study, while the purposive sampling method was employed to choose forty small scale businesses registered with SMEDAN from each state capital of South Western of Nigeria that engaged in petty trading, bakeries, block-making, soup-making, tailoring, and agro-allied, totaling 240 participants as a sample size for the study. Data were collected by using a closed-ended questionnaire designed for the study, while simple percentage, mean, standard deviation, Pearson Product Moment Correlation (PPMC), and Ordinary Least Square (OLS) was used to analyze the data. Results: The findings disclose that financial literacy and financial inclusion jointly and independently affect small businesses’ performance. It revealed a positive and significant relationship between financial literacy and financial inclusion. However, the study depicts that majority of business operators did not have financial knowledge such as working capital management, accounting records system, financial reporting, cashbook maintenance, income statement, daily cash reconciliation, internal control on cash, and cash budget. Also, the study confirmed that the majority of small business entrepreneurs are financially excluded from micro-financing, emergency loans, employ purchase financing, business bank loans, and micro-insurance plan Services. Implications: The implication of this study is that if the Central Bank of Nigeria partnership with other professional organizations to promote financial literacy and inclusion programs to all business entrepreneurs across the nation, it will motivate more business entrepreneurs in Nigeria to have access to finance.

APA, Harvard, Vancouver, ISO, and other styles

15

Anyanwu, Uchechi Gerarada, Emeka Emmanuel Osuji, and Nkiruka Glory Ben-Chendo. "Profitability Determinants of Palm Oil Marketing in Umuahia Agricultural Zone of Abia State, Nigeria." Finance & Economics Review 2, no. 3 (October 1, 2020): 25–33. http://dx.doi.org/10.38157/finance-economics-review.v2i3.174.

Full text

Abstract:

Purpose: This study aims to ascertain the profitability determinants of palm oil marketing in Umuahia Agricultural Zone of Abia State, Nigeria. Methods: Data on socio-economic characteristics of the respondents, cost, and returns of palm oil marketing in the area were collected using a multi-stage sampling technique from 60 palm oil marketers in Abia State. A descriptive statistical technique, marketing margin, profitability models, and the ordinary least squares multiple regression techniques were used to analyze the data obtained. Results: The empirical analysis showed that palm oil marketers mean age to be 47 years with a household size of 5 persons. 77% of the palm oil marketers were males while only 23% were females. The mean marketing experience of the palm oil marketers was estimated to be 16 years. The gross and net marketing margins were estimated at N55, 288.91, and N54, 076.91 respectively. The marketing margin was found to be ₦81,221.22 and profitability was estimated at 0.33. Age, household size, education, and marketing experience were statistically significant at 5% and influenced the profitability of palm oil marketing in the area. Implications: Considering the net profit obtained from palm oil marketing in the area, there is a need to intensify its management and marketing strategies to further harness more profitable outcomes in the future. Also enabling environment should be created to make production and marketing of the product less stressful, especially for women entrepreneurs.

APA, Harvard, Vancouver, ISO, and other styles

16

Nwakobi, Dr Paschal Chikwado, Amalachukwu Ananwude, and Chinedu Maurice Umezurike. "Fiscal Policy and Stock Market Development in an Emerging West African Economy." Finance & Economics Review 2, no. 3 (October 7, 2020): 52–68. http://dx.doi.org/10.38157/finance-economics-review.v2i3.182.

Full text

Abstract:

Purpose: This article presents a study on the effect of fiscal policy on stock market development in an emerging West African economy with an emphasis on Nigeria for the period of 1986 to 2018. Specifically, we evaluated the effect of fiscal deficit on all share index including government total expenditure on market capitalization ratio, the value of stock traded, and turnover ratio using data from the Central Bank of Nigeria (CBN) and Nigerian Stock Exchange (NSE). Methods: The Auto-regressive Distributive Lag (ARDL) was the estimation technique employed in ascertaining the nature of the short-run relationship between fiscal policy and stock market development indices, whereas the effect of fiscal policy on stock market development was actualized under the granger causality analysis. Results: The result of the analysis revealed that fiscal deficit has no significant effect on all share index; government total expenditure has no significant effect on stock market capitalization ratio; government total expenditure has a significant effect on the value of stock traded ratio; government total expenditure has no significant effect on the stock market turnover ratio. Implication: Government should implement its fiscal policies to carefully accommodate the development of the stock market, as changes in fiscal policy affect the overall activities in the market and ultimately the economy.

APA, Harvard, Vancouver, ISO, and other styles

17

Ogunewe, Nwanneka Cynthia, Amalachukwu Ananwude, and Dr Joseph Afamefuna Nduka. "Non-Oil Exports and Manufacturing Sector Growth in an Oil-Rich Country in Africa." Finance & Economics Review 2, no. 4 (November 23, 2020): 1–11. http://dx.doi.org/10.38157/finance-economics-review.v2i4.187.

Full text

Abstract:

Purpose: This paper presents an analysis of the effect of non-oil exports on the manufacturing sector growth in an oil-rich country in Africa – Nigeria from 1986 to 2018. In clear terms, we evaluated how manufacturing sector capacity utilization is affected by non-oil exports. Methods: The Ordinary Least Square (OLS) estimation technique was applied in estimating the model and was lagged by two years. The long-run relationship was determined using the traditional Johansen co-integration methodology. How manufacturing sector growth is affected by non-oil exports was evaluated using the Granger Causality technique. The Augmented Dicky-Fuller (ADF) and Phillips-Perron tests were applied to check the stationarity properties of the data. Results: The growth in the manufacturing sector in Nigeria has not been significantly affected by non-oil export despite the various non-oil export promotion strategies initiated by the government. Implication: A major implication of the finding is that the cost and access to financial services for non-oil exporters should be reduced or relaxed by the Central Bank of Nigeria. High-interest rates charged by commercial banks and little disbursement characterized by the volume of commercial banks credit affect manufacturing firms concerning acquiring modern plants and machinery which results in a poor quality of non-oil exports.

APA, Harvard, Vancouver, ISO, and other styles

18

Rahman, Md Hasanur, and Ahsan Habib. "Impact of Economic and Noneconomic Factors on Inflow of Remittances into Bangladesh." Finance & Economics Review 3, no. 1 (May 25, 2021): 51–62. http://dx.doi.org/10.38157/finance-economics-review.v3i1.289.

Full text

Abstract:

Purpose: Remittance plays an important role in the economy of Bangladesh. It also contributes to the change in the social structure and standard of living. The purpose of the study is to identify the economic and non-economic determinants of the remittance inflow into Bangladesh. Methodology: The study considered two types of variables as the determinants of the remittance inflow: economic and non-economic. Economic determinants of remittances inflows included exchange rate, education, economic growth rate, and market interest rate. The non-economic determinants covered control of corruption, government effectiveness, and political stability. Monthly data were used for the case of economic determinants from 2014 to 2020 and annual data were used in the case of non-economic determinants from 1996 to 2018. The marginal effect of each variable has been analyzed by using the Robust Least Squares (RLS) method. Results: The estimated results of this study state that, economic determinants like capital formation and education factors have a positive and significant impact on remittances inflows in both static and dynamic cases. However, the exchange rate does not create a positive impact due to volatility. The RLS estimation shows the control of corruption has a positive impact on remittances inflows whereas government effectiveness and political stability hurt remittances inflows in Bangladesh. Implications: The current study identified the significant determinates of remittances inflows in Bangladesh. The findings have implications for policy formulation as regard remittances and non-resident Bangladeshis.

APA, Harvard, Vancouver, ISO, and other styles

19

Silva, Alan Willame de Souza, Tabajara Pimenta Junior, Mara Alves Soares, Luiz Eduardo Gaio, and Marcelo Augusto Ambrozini. "Mergers and Acquisitions in Brazilian Higher Education Companies." Finance & Economics Review 3, no. 1 (April 24, 2021): 23–37. http://dx.doi.org/10.38157/finance-economics-review.v3i1.286.

Full text

Abstract:

Purpose: The objective of this study is to detect and measure the occurrence of extraordinary returns to the shareholders of private higher education companies, listed on the Brazilian stock market, B3, when mergers and acquisitions occur. Methods: This study uses the Event Study technique on process data from 46 merger and acquisition events, that occurred in the period of 2007- 2015, involving the three main Brazilian private higher education companies, and applies the Z-statistic to test the accumulated standard abnormal returns. Results: Based on the results, it is possible to affirm that the presence of abnormal returns was not detected after merger and acquisition events. Events of this nature do not promote changes in the short-term value of the company, in the cases of large and publicly traded Brazilian private higher education companies. Implications: The announcement of a merger or acquisition process has wide repercussions in the media and attracts the attention of investors that aims to gain abnormal earnings from anticipated post-merger value creation. This study showed that the potential gain in value does not always occur or is reflected in the stock prices of the companies involved, in the short term.

APA, Harvard, Vancouver, ISO, and other styles

20

Kwarah, Abdullahi Murtala, Irrshad Kaseeram, and Aliyu Sanusi Rafindadi. "The Capital Flow Volatility Spillover in Some Selected African Economies." Finance & Economics Review 3, no. 1 (April 24, 2021): 1–22. http://dx.doi.org/10.38157/finance-economics-review.v3i1.272.

Full text

Abstract:

Purpose: The study conducted an empirical examination of the link between capital flows and exchange rate by examining the relative influence of FDI and FPI on the exchange rates. Method: The study proceeded with the EGARCH model and the data sample covering the period from 1990-2016. The data were subjected to cross-country screening. The screening criteria are such that all the data that constitute capital in all sampled countries must have equal sample sizes. The measurement of capital flow in each of the sampled countries was restricted to two categories capital, namely, foreign portfolio investment (FPI) and foreign direct investment (FDI). Results: The research establishes that the behavior of capital flow volatility spillover of the sample countries' currencies exchange rate differs, with only South Africa's and Morocco's currencies revealing some slight similarity and existence of asymmetric volatility spillover from capital flows to exchange rate. Additionally, the study discloses that capital flows spillover has a considerable effect on exchange rate volatility than harmful spillover. The study also observed that positive shocks associated with capital flow volatility affect exchange rate value in Botswana more than capital outflow. Further positive capital flow spillover impending from capital inflow has a considerable effect on exchange rate volatility than the harmful spillover impending from the capital outflow. Further, the positive capital flow spill over impending from capital inflow significantly affects exchange rate volatility more than the negative spillovers that emanate from the capital outflow. Implications: This suggests that the monetary policy should consider options that can accelerate capital flow into the Moroccan economy. However, in South Africa for any given quantum of capital flow into the economy, the South African Reserve Bank must use instruments to affect stability; otherwise, the currency exchange rate could remain unstable. Thus, capital withdrawals out of the Egyptian economy will create domestic currency instability. Keywords: Spill-over, Foreign Direct Investments (FDI), Portfolio Investments (PI), asymmetric, capital flow volatility, Exchange rate volatility.

APA, Harvard, Vancouver, ISO, and other styles

21

Onour, Ibrahim. "Dynamics of Crude Oil Price Change and Global Food Commodity Prices." Finance & Economics Review 3, no. 1 (April 28, 2021): 38–50. http://dx.doi.org/10.38157/finance-economics-review.v3i1.248.

Full text

Abstract:

Purpose: This study investigates the effect of crude oil price fluctuations (price change as well as volatility) on wheat, sugar, corn, and fertilizers price changes. Methods: The study employs Markov switching dynamic regression, Dynamic Conditional Correlation (DCC), and Generalized Autoregressive Conditional Hetrosekadicity (GARCH) on monthly data covering the period from January 1988 to April 2018. Results: The findings of the research support evidence of two states. State 1, pertains to the low volatility of crude oil price, and state 2 belong to the case of the high volatility of crude oil prices. Our results indicated that at state 1, an increase in crude oil prices leads to a decline in food commodity prices, while in state 2, an increase in crude oil price levels causes an increase in food commodity prices. Results of Dynamic Conditional Correlation (DCC) GARCH estimates indicate the coefficients of oil price levels are significant and positively associated with the conditional volatility of the four commodity prices. Implications: The findings of the research imply that volatility in global food commodity prices is not due to oil price volatility but due to the oil price levels attained at extreme points. Originality: The paper investigates the impact of different volatility levels of crude oil prices on global food commodity prices.

APA, Harvard, Vancouver, ISO, and other styles

22

Molla, Mohammad Shahansha. "Effect of Gender Diversity on the Association between Corporate Sustainability Practices and Financial Performance of Firms." Finance & Economics Review 3, no. 2 (July 29, 2021): 15–31. http://dx.doi.org/10.38157/finance-economics-review.v3i2.274.

Full text

Abstract:

Purpose: The objective of this research is to examine the effect of corporate sustainability practices (CSP) on financial performance (FP) as well as the moderating effect of gender diversity (GENDIV) in the board on the relationship between CSP and FP of firms in Malaysia. Methods: The sample of the study is 312 firm-year observations from 2015 to 2017 of 104 firms listed in Bursa Malaysia. The theoretical framework of the study is underpinned by the Stakeholder theory and the Agency theory. To test the hypotheses, with the help of STATA software, the panel corrected standard errors (PCSE) estimator model and the hierarchical moderated multiple regression model have been used. Results: The findings of the study reveal that CSP significantly and positively affects the FP of firms. The empirical results also show that gender diversity in boards significantly moderates the relationship between CSP and FP of Firms in Malaysia. Implications: Based on the empirical findings, the study recommends that the policymakers and regulatory bodies should follow up the mandatory corporate sustainability practices of the firms as well as revise the codes of corporate governance regarding gender diversity of the boards to ensure their long-term sustainability as well as to reduce the risk of financial distress, or bankruptcies in the future.

APA, Harvard, Vancouver, ISO, and other styles

23

Devi, Bisla, and Thiagu Ranganathan. "Emerging Challenges in Rural Non-Farm Sector and Inequality in Rural India." Finance & Economics Review 3, no. 1 (September 15, 2021): 88–101. http://dx.doi.org/10.38157/finance-economics-review.v3i1.303.

Full text

Abstract:

Purpose: This paper highlights the changing patterns of income diversification and the effects of various socio-economic factors influencing the non-farm (NF) income of rural households in India. The study also explores the inequality effects of the non-farm earnings of the households by using the Fields inequality decomposition. Method: The study compares and evaluates the determinants and trends of inequality in 2004-2005 and 2011-2012 in the NF sector. It uses nationally representative data from two rounds of the Indian Household Development Survey (IHDS), which includes a panel of 36,278 households at all levels in India. The Censored Least Absolute Deviation (CLAD) model is used to estimate household determinants for non-farm income. The Fields decomposition decomposes total income inequality by considering the socio-economic factors. Results: The study finds that variations in non-farm earnings have increased. Field's Income Inequality Decomposition estimates show that income inequalities between households are significantly high due to factors such as education, level of the household head, land ownership, and population density, but also appear to be declining in 2011-12. Also, the earning gaps based on gender, age, and geographical zones have increased. Implications: Overall, the non-farm income during the studied period was observed to be biased towards the better-off households. However, it opened up opportunities for underprivileged households as well. The non-farm sector has huge potential in augmenting incomes for unprivileged rural households. Therefore, the government should pay attention to this sector as a means of reducing income inequality and alleviating poverty.

APA, Harvard, Vancouver, ISO, and other styles

24

Stier, Jeffrey C., and W. David Klemperer. "Forest Resource Economics and Finance." Land Economics 73, no. 3 (August 1997): 440. http://dx.doi.org/10.2307/3147178.

Full text

APA, Harvard, Vancouver, ISO, and other styles

25

Shin, Minchul, and Molin Zhong. "Finance and Economics Discussion Series." Finance and Economics Discussion Series 2016, no. 40 (May 2016): 1–55. http://dx.doi.org/10.17016/feds.2016.040.

Full text

APA, Harvard, Vancouver, ISO, and other styles

26

KAWAGUCHI, Yuichiro. "Real Estate Finance and Economics." Japanese Journal of Real Estate Sciences 28, no. 4 (2015): 62–67. http://dx.doi.org/10.5736/jares.28.4_62.

Full text

APA, Harvard, Vancouver, ISO, and other styles

27

Vriend, Nicolaas J. "Computing in economics and finance." Journal of Economic Dynamics and Control 29, no. 1-2 (January 2005): 1–2. http://dx.doi.org/10.1016/j.jedc.2004.01.001.

Full text

APA, Harvard, Vancouver, ISO, and other styles

28

Bullard, Jim, Cees Diks, and Florian Wagener. "Computing in economics and finance." Journal of Economic Dynamics and Control 30, no. 9-10 (September 2006): 1441–44. http://dx.doi.org/10.1016/j.jedc.2006.03.003.

Full text

APA, Harvard, Vancouver, ISO, and other styles

29

Juillard, M. "Computing in economics and finance." Journal of Economic Dynamics and Control 27, no. 11-12 (September 2003): 1939. http://dx.doi.org/10.1016/s0165-1889(02)00110-0.

Full text

APA, Harvard, Vancouver, ISO, and other styles

30

Shogren, Jason F. "Microeconomics: Behavioural Economics and Finance." Journal of Economic Literature 51, no. 4 (December 1, 2013): 1192–94. http://dx.doi.org/10.1257/jel.51.4.1183.r5.

Full text

Abstract:

Jason F. Shogren of University of Wyoming reviews, “Behavioural Economics and Finance” by Michelle Baddeley. The Econlit abstract of this book begins: “Explores key concepts and insights from behavioral economics and its interdisciplinary approach to real-world decision making. Discusses foundations—psychology; foundations—neuroscience and neuroeconomics; learning; sociality and identity; heuristics and biases; prospects and regrets; personality, moods, and emotions; time and plans; bad habits; financial instability; and behavioral macroeconomics, happiness, and well-being. Baddeley is Fellow and Director of Studies (Economics) at Gonville and Caius College, Cambridge University.”

APA, Harvard, Vancouver, ISO, and other styles

31

Coval, Joshua, Jakub Jurek, and Erik Stafford. "The Economics of Structured Finance." Journal of Economic Perspectives 23, no. 1 (January 1, 2009): 3–25. http://dx.doi.org/10.1257/jep.23.1.3.

Full text

Abstract:

This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known as tranches, against these collateral pools. As a result of the prioritization scheme used in structuring claims, many of the manufactured tranches are far safer than the average asset in the underlying pool. This ability of structured finance to repackage risks and to create “safe” assets from otherwise risky collateral led to a dramatic expansion in the issuance of structured securities, most of which were viewed by investors to be virtually risk-free and certified as such by the rating agencies. At the core of the recent financial market crisis has been the discovery that these securities are actually far riskier than originally advertised. We examine how the process of securitization allowed trillions of dollars of risky assets to be transformed into securities that were widely considered to be safe. We highlight two features of structured finance products—the extreme fragility of their ratings to modest imprecision in evaluating underlying risks, and their exposure to systematic risks—that go a long way in explaining the spectacular rise and fall of structured finance. We conclude with an assessment of what went wrong and the relative importance of rating agency errors, investor credulity, and perverse incentives and suspect behavior on the part of issuers, rating agencies, and borrowers.

APA, Harvard, Vancouver, ISO, and other styles

32

Lundqvist, Lennart J. "Economics, politics, and housing finance." Scandinavian Housing and Planning Research 6, no. 4 (January 1989): 201–13. http://dx.doi.org/10.1080/02815738908730203.

Full text

APA, Harvard, Vancouver, ISO, and other styles

33

Marks, Robert E. "Organisational Behaviour, Finance, and Economics." Australian Journal of Management 30, no. 1 (June 2005): e0-e3. http://dx.doi.org/10.1177/031289620503000101.

Full text

APA, Harvard, Vancouver, ISO, and other styles

34

Ray, Russ. "Econophysics: finance, economics and physics." Applied Economics Letters 18, no. 3 (February 2011): 273–77. http://dx.doi.org/10.1080/13504851003596020.

Full text

APA, Harvard, Vancouver, ISO, and other styles

35

Schönbucher, Philipp. "Applied Computational Economics and Finance." Journal of the American Statistical Association 99, no. 466 (June 2004): 565–66. http://dx.doi.org/10.1198/jasa.2004.s337.

Full text

APA, Harvard, Vancouver, ISO, and other styles

36

Schmedders, Karl. "Applied Computational Economics and Finance." Economic Journal 113, no. 491 (November 1, 2003): F661—F663. http://dx.doi.org/10.1046/j.0013-0133.2003.172_5.x.

Full text

APA, Harvard, Vancouver, ISO, and other styles

37

Elliott, Graham, and Allan Timmermann. "Forecasting in Economics and Finance." Annual Review of Economics 8, no. 1 (October 31, 2016): 81–110. http://dx.doi.org/10.1146/annurev-economics-080315-015346.

Full text

APA, Harvard, Vancouver, ISO, and other styles

38

Oldfield, George S. "The Economics of Structured Finance." Journal of Fixed Income 7, no. 2 (September 30, 1997): 92–99. http://dx.doi.org/10.3905/jfi.1997.408210.

Full text

APA, Harvard, Vancouver, ISO, and other styles

39

Guegan, Dominique. "CHAOS IN ECONOMICS AND FINANCE." IFAC Proceedings Volumes 39, no. 8 (2006): 1. http://dx.doi.org/10.3182/20060628-3-fr-3903.00002.

Full text

APA, Harvard, Vancouver, ISO, and other styles

40

Al-Zu'bi, Bashir. "Islamic Economics, Banking and Finance." American Journal of Islam and Society 15, no. 1 (April 1, 1998): 162–65. http://dx.doi.org/10.35632/ajis.v15i1.2210.

Full text

Abstract:

The course was organized by the Islamic Development U.K., in cooperationwith the Islamic Development Bank, Jeddah, Saudi Arabia, andLoughborough University, Loughborough, U.K. More than 100 guestspeakers, organizers, and participants attended.The participants were very active in panel discussions. The topicsincluded Islamic banking and fm ance, Islamic economics, economicdevelopment from the Islamic perspective, the creation of money, therationale of prohibiting interest and its prohibition in western literature,debt, equity, Islamic fund management, the role of zakat in the eradicationof poverty, Islamic finance in the West, and the new halal investmentcompany in Europe. As a starting point, Dr. Umer Chapra presented a paper on the presentstate of Islamic economics. He emphasized the importance of economicsin explaining the fall of Muslim power. He also pointed out the effect ofIslamic values and institutions, including zakat and the abolition of interest.He added that now it is time to solve the practical problems that theMuslim countries are facing and also to show ways of realizing theIslamic vision of a society where development is taking place with justice.Dr. Monawar Iqbal talked about the rationale of Islamic banking andthe services that people are in need of, e.g., investment in the form ofmudarabah, musharakah, and murabah.Attention was juid to the following features of Islamic banking: risksharing, productivity as compared to credit worthiness, moral dimension,equity, efficiency, stability, and growth.The experience of Islamic banking in Pakistan, Iran, and Sudan wasdiscussed. In addition, there was a discussion on multinational entities(e.g., Islamic Development Bank). Dr. Iqbal emphasized the major problemsfacing Islamic banking such as lack of profit sharing on the assetside, adverse selection, moral hazard, lack of project appraisal machinery,lack of project monitering, defaulters and the issue of penalties,illogicality of the Islamic financial market, short-term asset structure,excess liquidity, short-term placement of funds, lack of a lender of lastresort, difficulties in issuing letters of guarantee, and taxation.Despite these problems, 192 Islamic banks were operating by the endof 1996. An analysis of 166 of these banks was made by Dr. SamirShaikh, who described their current profile and showed that their netprofit in 1996 was $1,683,648. On the suggestion of Dr. Tarigullah Khanthe principles of Islamic finance were grouped into the following categories:benevolence, sharing principle, deferred sale-principle, andsharing-cum-deferred sale ...

APA, Harvard, Vancouver, ISO, and other styles

41

Lukpanova, Zh O., Zh A. Toyzhigitova, and A. A. Kazhmukhametova. "INNOVATION IN ECONOMICS AND FINANCE." REPORTS 3, no. 325 (June 15, 2019): 174–78. http://dx.doi.org/10.32014/2019.2518-1483.89.

Full text

APA, Harvard, Vancouver, ISO, and other styles

42

Branch, Ben. "Institutional economics and behavioral finance." Journal of Behavioral and Experimental Finance 1 (March 2014): 13–16. http://dx.doi.org/10.1016/j.jbef.2013.11.001.

Full text

APA, Harvard, Vancouver, ISO, and other styles

43

Guégan, D. "Chaos in economics and finance." Annual Reviews in Control 33, no. 1 (April 2009): 89–93. http://dx.doi.org/10.1016/j.arcontrol.2009.01.002.

Full text

APA, Harvard, Vancouver, ISO, and other styles

44

Tiwari, Kashi Nath, Georges Dionne, and Scott E. Harrington. "Foundations of Insurance Economics: Readings in Economics and Finance." Southern Economic Journal 60, no. 1 (July 1993): 271. http://dx.doi.org/10.2307/1059966.

Full text

APA, Harvard, Vancouver, ISO, and other styles

45

Stengos, Thanasis. "Recent Advancements in Section “Economics and Finance”." Journal of Risk and Financial Management 13, no. 11 (November 20, 2020): 289. http://dx.doi.org/10.3390/jrfm13110289.

Full text

APA, Harvard, Vancouver, ISO, and other styles

46

Pochenchuk, Halyna. "COEVOLUTION OF DEVELOPMENT: ECONOMICS, FINANCE, INSTITUTES." Economic Analysis, no. 27(4) (2017): 20–28. http://dx.doi.org/10.35774/econa2017.04.020.

Full text

Abstract:

Introduction. Modern conditions of the economic systems development are characterized by the growth of interdependencies at different aggregation levels and different types of relationships, their interconnection and increasing complexity of economic processes. These features predetermine the need of the complexity of research of causal relationships of economic systems development. Purpose. The article aims to justify the co-evolutionary dynamics of financial, institutional and economic development processes. Results. The study has identified the concept of co-evolution, financial, economic and institutional development. The interaction channels and propagation of corresponding dynamics impulses have been described. The causal relationships between different aspects of development processes have been revealed. The necessity of implementation of institutional reforms taking into account co-evolutionary connections of development processes has been substantiated.

APA, Harvard, Vancouver, ISO, and other styles

47

Quintana, David, and Pedro Isasi. "Soft computing in finance and economics." AI Communications 27, no. 2 (2014): 171–72. http://dx.doi.org/10.3233/aic-140595.

Full text

APA, Harvard, Vancouver, ISO, and other styles

48

Hillier, H. J., and John Shannon. "Mathematics for Business, Economics & Finance." Mathematical Gazette 81, no. 491 (July 1997): 318. http://dx.doi.org/10.2307/3619229.

Full text

APA, Harvard, Vancouver, ISO, and other styles

49

Ladley, Dan. "Zero intelligence in economics and finance." Knowledge Engineering Review 27, no. 2 (April 26, 2012): 273–86. http://dx.doi.org/10.1017/s0269888912000173.

Full text

Abstract:

AbstractThis paper reviews the Zero Intelligence (ZI) methodology for investigating markets. This approach models individual traders, operating within a market mechanism, who behave without strategy, in order to determine the impact of the market mechanism and consequently the effect of trader behaviour. The paper considers the major contributions and models within this area from both the economics and finance communities before examining the strengths and weaknesses of this methodology.

APA, Harvard, Vancouver, ISO, and other styles

50

Isasi, Pedro. "Computational Finance and Economics Technical Committee." IEEE Computational Intelligence Magazine 2, no. 2 (May 2007): 73. http://dx.doi.org/10.1109/mci.2007.353424.

Full text

APA, Harvard, Vancouver, ISO, and other styles

Journal articles on the topic 'Finance|Economics'

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles