BRICS countries are not only striving to gain more political and economic clouts in the developing world but are also influencing global governance. However, each one is facing its own economic concerns and challenges. For instance, India has been witnessing a severe economic slowdown, while Brazil is maintaining a low growth rate along with persistent high inflation and unemployment problems. South Africa has been mired with low growth rate, rising youth unemployment, high debt and inequality. China has been suffering from a sluggish growth on account of the trade war with the US, and Russia has massively suffered from US and EU sanctions. Despite these problems, they are trying to lay a robust foundation of cooperation with the countries in the Global South amid their rising discontent over perceived Western dominance of the global institutions. With this background, our main focus here is to comprehend socioeconomic dimensions from a comparative assessment to develop an understanding and visualize their relative developmental positions over the last three decades (1990 to 2020). Analyzing the data, the study clearly observes visible diversities within them. While China’s socioeconomic dimensions have improved remarkably, followed by India, South Africa could achieve relatively only with minimal success. It demonstrates that certain BRICS countries while achieving significant strides in their socioeconomic development outcomes, others are encumbered and struggling with challenges over the last three decades (1990 to 2020) without witnessing similar success and yet to overcome those challenges. The uneven economic progress of economies needs to be addressed by individual economies by laying down efficient economic policies, which have been falling short of the average progress in any economic development parameters if their economic and social cooperation needs to be strengthened towards achieving higher economic progress by mutually benefitting from their stronger socioeconomic ties and simultaneously exert greater influence in the world stage.
{"title":"The socioeconomic dimensions of BRICS: a comparative analysis over three decades 1990 to 2020","authors":"S. Rout, Hrushikesh Mallick","doi":"10.58396/gsef010206","DOIUrl":"https://doi.org/10.58396/gsef010206","url":null,"abstract":"BRICS countries are not only striving to gain more political and economic clouts in the developing world but are also influencing global governance. However, each one is facing its own economic concerns and challenges. For instance, India has been witnessing a severe economic slowdown, while Brazil is maintaining a low growth rate along with persistent high inflation and unemployment problems. South Africa has been mired with low growth rate, rising youth unemployment, high debt and inequality. China has been suffering from a sluggish growth on account of the trade war with the US, and Russia has massively suffered from US and EU sanctions. Despite these problems, they are trying to lay a robust foundation of cooperation with the countries in the Global South amid their rising discontent over perceived Western dominance of the global institutions. With this background, our main focus here is to comprehend socioeconomic dimensions from a comparative assessment to develop an understanding and visualize their relative developmental positions over the last three decades (1990 to 2020). Analyzing the data, the study clearly observes visible diversities within them. While China’s socioeconomic dimensions have improved remarkably, followed by India, South Africa could achieve relatively only with minimal success. It demonstrates that certain BRICS countries while achieving significant strides in their socioeconomic development outcomes, others are encumbered and struggling with challenges over the last three decades (1990 to 2020) without witnessing similar success and yet to overcome those challenges. The uneven economic progress of economies needs to be addressed by individual economies by laying down efficient economic policies, which have been falling short of the average progress in any economic development parameters if their economic and social cooperation needs to be strengthened towards achieving higher economic progress by mutually benefitting from their stronger socioeconomic ties and simultaneously exert greater influence in the world stage.","PeriodicalId":236464,"journal":{"name":"Global Studies on Economics and Finance","volume":" 32","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141373634","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}
Purpose – The purpose of this paper is to observe whether the announcement of dividend distribution can affect the abnormal return on the Tunisian stock exchange. Design/methodology/approach – The sample includes 24 non-financial listed stocks in Tunisia Stock Exchange during the years 2004-2013. Company decides to announce its dividend payout policy to signal the market that the firm is now processing future prospects, which will result in changing its stock prices. Findings – The findings yield qualitatively consistent with the previous research. After controlling for the effect of the Politic Crisis in Tunisia during 2010-2013, the result shows that the stock prices move upward significantly after dividend announcements. Abnormal return (AR) and cumulative abnormal return (CAR) from the market model are statistically significantly revealed. Moreover, most event windows show that the stock return becomes lower when the investor sentiment for dividend is higher. Research limitations/implications – The result is limited to the absence of an important number of firms listed in TSE from this period. Practical implications – Investors in Tunisia show their preference for dividend to self-control, satisfaction and increase their profit. “This could be the catering incentive of the firm to decide to pay dividends”. Originality/value – This document provides evidence of Baker and Wurgler's (2002) proposed a new dividend theory; dividend catering theory, Bulan et al (2004) proposed the timing of dividend initiation, Thanwarat Suwanna (2012) document the impact of dividend announcement on stock returns. Even though the results indicate that Tunisian market react to the announcement of dividend by managers. Moreover, the timing of dividend initiation is affected by the investors’ sentiment, measured by the dividend premium. Tunisian investors react positively to the announcement to distribute dividend from firms especially in abnormal economic situation explained by the Tunisian politic crisis.
{"title":"Can dividend announcement predict abnormal returns? Tunisia evidence","authors":"Hadfi Bilel","doi":"10.58396/gsef010205","DOIUrl":"https://doi.org/10.58396/gsef010205","url":null,"abstract":"Purpose – The purpose of this paper is to observe whether the announcement of dividend distribution can affect the abnormal return on the Tunisian stock exchange. Design/methodology/approach – The sample includes 24 non-financial listed stocks in Tunisia Stock Exchange during the years 2004-2013. Company decides to announce its dividend payout policy to signal the market that the firm is now processing future prospects, which will result in changing its stock prices. Findings – The findings yield qualitatively consistent with the previous research. After controlling for the effect of the Politic Crisis in Tunisia during 2010-2013, the result shows that the stock prices move upward significantly after dividend announcements. Abnormal return (AR) and cumulative abnormal return (CAR) from the market model are statistically significantly revealed. Moreover, most event windows show that the stock return becomes lower when the investor sentiment for dividend is higher. Research limitations/implications – The result is limited to the absence of an important number of firms listed in TSE from this period. Practical implications – Investors in Tunisia show their preference for dividend to self-control, satisfaction and increase their profit. “This could be the catering incentive of the firm to decide to pay dividends”. Originality/value – This document provides evidence of Baker and Wurgler's (2002) proposed a new dividend theory; dividend catering theory, Bulan et al (2004) proposed the timing of dividend initiation, Thanwarat Suwanna (2012) document the impact of dividend announcement on stock returns. Even though the results indicate that Tunisian market react to the announcement of dividend by managers. Moreover, the timing of dividend initiation is affected by the investors’ sentiment, measured by the dividend premium. Tunisian investors react positively to the announcement to distribute dividend from firms especially in abnormal economic situation explained by the Tunisian politic crisis.","PeriodicalId":236464,"journal":{"name":"Global Studies on Economics and Finance","volume":"40 39","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140966235","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}
{"title":"The principle for developing sustainable economy and stocks II","authors":"","doi":"10.58396/gsef010204","DOIUrl":"https://doi.org/10.58396/gsef010204","url":null,"abstract":"","PeriodicalId":236464,"journal":{"name":"Global Studies on Economics and Finance","volume":"71 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140759060","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}
{"title":"The analysis of economics impact of artificial intelligence","authors":"Jiaxiu Sun","doi":"10.58396/gsef010101","DOIUrl":"https://doi.org/10.58396/gsef010101","url":null,"abstract":"","PeriodicalId":236464,"journal":{"name":"Global Studies on Economics and Finance","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133414409","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}
{"title":"Sector not named in the packaging: packaging protection products","authors":"","doi":"10.58396/gsef010201","DOIUrl":"https://doi.org/10.58396/gsef010201","url":null,"abstract":"","PeriodicalId":236464,"journal":{"name":"Global Studies on Economics and Finance","volume":"109 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":"136202939","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}
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