Breno C. Sena, Flávio L. Carvalho, Andrei A. Albuquerque
The objective of this article is to analyze the scientific production about payments market and pricing, identifying the stage of publications, the most productive countries and journals, influential authors, and seminal documents, research clusters, and opportunities for future research. The methodology used to achieve this goal was a bibliometric analysis, using data from the Scopus and Web of Science. With 75% of the published records appearing between 2010 and 2021, this analysis revealed that the field is emergent. The impacts discussed are (i) the growth in the number of papers; (ii) the democratization of access to payment services; (iii) the relevance of pricing in payment processes; and (iv) the agents involved in payments transaction flow. The results show that few studies investigate payments market and pricing, making it an important topic for future research (allied with the identified hot topics) and the major contribution of this paper.
本文的目的是分析关于支付市场和定价的科学生产，确定出版物的阶段，最具生产力的国家和期刊，有影响力的作者，开创性的文件，研究集群，以及未来研究的机会。实现这一目标的方法是文献计量学分析，使用来自Scopus和Web of Science的数据。该分析显示，75%的已发表记录出现在2010年至2021年之间，该领域处于新兴阶段。所讨论的影响有:(i)论文数量的增长;(ii)获得支付服务的民主化;(iii)支付过程中定价的相关性;(四)参与支付交易流程的代理人。研究结果表明，研究支付市场和定价的研究很少，这使其成为未来研究的重要课题(与确定的热点课题相结合)，也是本文的主要贡献。
{"title":"Payment Market and Pricing: A Bibliometric Review","authors":"Breno C. Sena, Flávio L. Carvalho, Andrei A. Albuquerque","doi":"10.5539/ijef.v15n12p77","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p77","url":null,"abstract":"The objective of this article is to analyze the scientific production about payments market and pricing, identifying the stage of publications, the most productive countries and journals, influential authors, and seminal documents, research clusters, and opportunities for future research. The methodology used to achieve this goal was a bibliometric analysis, using data from the Scopus and Web of Science. With 75% of the published records appearing between 2010 and 2021, this analysis revealed that the field is emergent. The impacts discussed are (i) the growth in the number of papers; (ii) the democratization of access to payment services; (iii) the relevance of pricing in payment processes; and (iv) the agents involved in payments transaction flow. The results show that few studies investigate payments market and pricing, making it an important topic for future research (allied with the identified hot topics) and the major contribution of this paper.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"62 10","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136348874","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}
In this paper, we provide a theoretical overview of the reasons behind the concentration of technological innovation in some areas. To do so, we first examine the issues of innovation as established by macroeconomic theories of growth then we discuss the incentives for its production according to market structures. Then, using an approach based on the economics and management of knowledge, we analyze the mechanisms and dynamics of the co-localization of innovative industries through the results of theoretical models of industrial organization. Specifically, we show that the localization of innovation is favored by the presence of knowledge externalities, especially of a tacit nature, and by the sharing of indivisible costs (e.g., technology platforms, clean rooms, road networks, etc.). It is also explained by strategic gains associated with R&D cooperation, such as informational incentives linked to the local ecosystem and the improved performance of technological agreements between firms belonging to the same epistemic community and located within an innovation cluster.
{"title":"Why is Technological Innovation Locally Concentrated? A Theoretical Review","authors":"Bi Goli Jean Jacques Iritié","doi":"10.5539/ijef.v15n12p53","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p53","url":null,"abstract":"In this paper, we provide a theoretical overview of the reasons behind the concentration of technological innovation in some areas. To do so, we first examine the issues of innovation as established by macroeconomic theories of growth then we discuss the incentives for its production according to market structures. Then, using an approach based on the economics and management of knowledge, we analyze the mechanisms and dynamics of the co-localization of innovative industries through the results of theoretical models of industrial organization. Specifically, we show that the localization of innovation is favored by the presence of knowledge externalities, especially of a tacit nature, and by the sharing of indivisible costs (e.g., technology platforms, clean rooms, road networks, etc.). It is also explained by strategic gains associated with R&D cooperation, such as informational incentives linked to the local ecosystem and the improved performance of technological agreements between firms belonging to the same epistemic community and located within an innovation cluster.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":" 482","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135186506","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}
We study daily deal markets, i.e. platforms where sellers, called merchants, offer coupons for their products at a heavily discounted price for a short time window. Inspired by the evidence that both merchants and customers are often unsatisfied with their experiences with daily deals, we setup a two-period model that reconciles such evidence. In the first period, the merchant sells the coupons at the (low) price imposed by the platform and can choose the quality of its product, which is unobserved by the consumers. In the second period, when the deal period has expired and the merchant is free to set the selling price, first-period customers purchase again only if they were satisfied with the quality of the product. Our crucial result is that, if the merchant has present biased preferences, the daily deal market exacerbates the risk that the merchant provides a low quality product, even though, at the beginning of the daily deal campaign, the merchant was fully aware that only a high quality product would have made the campaign profitable. We also show that it might be in the interest of the platform to set a higher price for the coupons, as this would reduce the risk of having low quality products sold on the platform, avoiding negative reputational effects.
{"title":"Present Bias and Quality Reduction on Daily Deal Platforms","authors":"Stefano Galavotti, Gioele Massaro","doi":"10.5539/ijef.v15n12p39","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p39","url":null,"abstract":"We study daily deal markets, i.e. platforms where sellers, called merchants, offer coupons for their products at a heavily discounted price for a short time window. Inspired by the evidence that both merchants and customers are often unsatisfied with their experiences with daily deals, we setup a two-period model that reconciles such evidence. In the first period, the merchant sells the coupons at the (low) price imposed by the platform and can choose the quality of its product, which is unobserved by the consumers. In the second period, when the deal period has expired and the merchant is free to set the selling price, first-period customers purchase again only if they were satisfied with the quality of the product. Our crucial result is that, if the merchant has present biased preferences, the daily deal market exacerbates the risk that the merchant provides a low quality product, even though, at the beginning of the daily deal campaign, the merchant was fully aware that only a high quality product would have made the campaign profitable. We also show that it might be in the interest of the platform to set a higher price for the coupons, as this would reduce the risk of having low quality products sold on the platform, avoiding negative reputational effects.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":" 481","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135186507","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}
Financing decisions of firms have been a topic interest for financial economists for a long time. In this study, we aim to contribute to this area by examining the impact of macroeconomic determinants on capital structure in emerging markets. Utilizing the panel quantile regression method (QREG) and analyzing data from listed Tunisian firms between 2011 and 2021, this paper investigates the relationship between macroeconomic determinants and capital structure across different quantiles. The research findings suggest that both firm size and growth options are positively correlated with leverage. Additionally, this paper finds that return on assets has a negative and significant effect at 1% in the first to third quantiles on leverage. The results of this paper have important implications since they can interest firm executives, policymakers, and investors operating in emerging markets.
{"title":"Capital Structure and Macroeconomic Determinants in Emerging Country: A Panel Quantile Regression Approach","authors":"Ibtissem Missaoui, Yaqoub Alduraywish","doi":"10.5539/ijef.v15n12p68","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p68","url":null,"abstract":"Financing decisions of firms have been a topic interest for financial economists for a long time. In this study, we aim to contribute to this area by examining the impact of macroeconomic determinants on capital structure in emerging markets. Utilizing the panel quantile regression method (QREG) and analyzing data from listed Tunisian firms between 2011 and 2021, this paper investigates the relationship between macroeconomic determinants and capital structure across different quantiles. The research findings suggest that both firm size and growth options are positively correlated with leverage. Additionally, this paper finds that return on assets has a negative and significant effect at 1% in the first to third quantiles on leverage. The results of this paper have important implications since they can interest firm executives, policymakers, and investors operating in emerging markets.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":" 480","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135186508","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}
Jeremias Pereira da Silva Arraes, José Matias-Pereira, João Abreu Faria Bilhim
This essay aims to discuss, in a theoretical way, how creative accounting is presented in Brazil in the years 2014 and 2015, which resulted in an impeachment process and affected the Brazilian economy. The methodology is qualitative with the application of content and document analysis techniques. The basis of the accounting information is taken from the analyzes of the special impeachment commission and the Federal Court of Auditors in relation to the accusation of a crime of fiscal responsibility to the detriment of the president of the republic. The research discusses the accounting operations carried out by the government and which resulted in the famous expression “fiscal pedaling”. In light of accounting theory Hendriksen and Van Breda (2018), there is a complexity in the analysis that has led to frequent divergences regarding the objectives of accounting and the nature of the economic environment in which it operates. Thus, as research results, it is possible to observe that the concepts given to creative accounting and fraud are close, but they are not similar, where characteristics such as intentional error and the transit of accounting operations, outside the accounting regulations and principles, end up elucidating the particularities of each phenomenon.
{"title":"Fiscal Pedal: Fraud or Creative Accounting? A Theoretical Understanding of the Dangerous Fiscal Cycles that Affected the Brazilian Economy","authors":"Jeremias Pereira da Silva Arraes, José Matias-Pereira, João Abreu Faria Bilhim","doi":"10.5539/ijef.v15n12p16","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p16","url":null,"abstract":"This essay aims to discuss, in a theoretical way, how creative accounting is presented in Brazil in the years 2014 and 2015, which resulted in an impeachment process and affected the Brazilian economy. The methodology is qualitative with the application of content and document analysis techniques. The basis of the accounting information is taken from the analyzes of the special impeachment commission and the Federal Court of Auditors in relation to the accusation of a crime of fiscal responsibility to the detriment of the president of the republic. The research discusses the accounting operations carried out by the government and which resulted in the famous expression “fiscal pedaling”. In light of accounting theory Hendriksen and Van Breda (2018), there is a complexity in the analysis that has led to frequent divergences regarding the objectives of accounting and the nature of the economic environment in which it operates. Thus, as research results, it is possible to observe that the concepts given to creative accounting and fraud are close, but they are not similar, where characteristics such as intentional error and the transit of accounting operations, outside the accounting regulations and principles, end up elucidating the particularities of each phenomenon.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"7 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135726336","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}
This study analyzes and compares the influence of the VIX index, known as the “fear index,” on the volatility of the stock exchanges of the main Latin American countries (Brazil, Chile, and Mexico) and on some of the main international exchanges of the member countries of the G7 (the United States, Germany, France, and the United Kingdom) from January 2017 to December 2021. Through the application of the univariate and multivariate econometric GARCH models of volatility, the research hypothesizes the existence of a negative conditional correlation between the VIX index and the other stock exchange indices, with emphasis on the Brazilian stock exchange. However, except for the pandemic period, it is not possible to identify the presence of a negative conditional correlation between the VIX and the stock exchange indices selected throughout the analyzed period, contrary to expectations, highlighting the need to advance investigations with studies that analyze the VIX index with the respective effects on the stock market as well as investor behavior and the macroeconomic and particular influences of the country of each of the stock exchanges considered.
{"title":"The VIX Index and the Volatility of the Latin American and G7 Stock Exchanges before and during the COVID-19 Pandemic","authors":"Pedro Raffy Vartanian, Roberto Simioni Neto","doi":"10.5539/ijef.v15n12p25","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p25","url":null,"abstract":"This study analyzes and compares the influence of the VIX index, known as the “fear index,” on the volatility of the stock exchanges of the main Latin American countries (Brazil, Chile, and Mexico) and on some of the main international exchanges of the member countries of the G7 (the United States, Germany, France, and the United Kingdom) from January 2017 to December 2021. Through the application of the univariate and multivariate econometric GARCH models of volatility, the research hypothesizes the existence of a negative conditional correlation between the VIX index and the other stock exchange indices, with emphasis on the Brazilian stock exchange. However, except for the pandemic period, it is not possible to identify the presence of a negative conditional correlation between the VIX and the stock exchange indices selected throughout the analyzed period, contrary to expectations, highlighting the need to advance investigations with studies that analyze the VIX index with the respective effects on the stock market as well as investor behavior and the macroeconomic and particular influences of the country of each of the stock exchanges considered.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"7 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135726337","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}
Jean Baptiste Tiémélé, Bi Goli Jean Jacques Iritié
This paper analyzes the contribution of FDI to service sector growth in Côte d’Ivoire over the period 1980-2021. The data are extracted from World Development Indicators (World Bank). The econometric test based on the ARDL cointegration approach is used. The results show that FDI has a negative and significant effect on growth in the service sector. These results could be explained by the insufficiency of inward FDI in Côte d’Ivoire in recent years, compared to other sub-Saharan African countries, by the sectoral allocation of inward FDI, which does not take into account the growth sector of the economy, and finally, by the unbalanced geographical distribution of FDI, most of which is heavily concentrated in Abidjan. Our results highlight the importance of boosting investment in the service sector, in order to stimulate activities in this sector in Côte d’Ivoire. Besides aiming at creating a solid national economy and improving living standards, we suggest the mobilization of sufficient domestic savings and raising the level of education, developing infrastructure in sufficient quantity and quality and increasing internal and external trade flows, and finally, preserving the population’s purchasing power. We have also proposed measures to improve FDI to promote economic growth in Côte d’Ivoire’s service sector.
{"title":"FDI and Economic Growth in Côte d’Ivoire: An Empirical Analysis Based on the Service Sector","authors":"Jean Baptiste Tiémélé, Bi Goli Jean Jacques Iritié","doi":"10.5539/ijef.v15n12p1","DOIUrl":"https://doi.org/10.5539/ijef.v15n12p1","url":null,"abstract":"This paper analyzes the contribution of FDI to service sector growth in Côte d’Ivoire over the period 1980-2021. The data are extracted from World Development Indicators (World Bank). The econometric test based on the ARDL cointegration approach is used. The results show that FDI has a negative and significant effect on growth in the service sector. These results could be explained by the insufficiency of inward FDI in Côte d’Ivoire in recent years, compared to other sub-Saharan African countries, by the sectoral allocation of inward FDI, which does not take into account the growth sector of the economy, and finally, by the unbalanced geographical distribution of FDI, most of which is heavily concentrated in Abidjan. Our results highlight the importance of boosting investment in the service sector, in order to stimulate activities in this sector in Côte d’Ivoire. Besides aiming at creating a solid national economy and improving living standards, we suggest the mobilization of sufficient domestic savings and raising the level of education, developing infrastructure in sufficient quantity and quality and increasing internal and external trade flows, and finally, preserving the population’s purchasing power. We have also proposed measures to improve FDI to promote economic growth in Côte d’Ivoire’s service sector.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"30 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135876151","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}
Behavioral finance research has examined the relationship between overconfidence bias and investment decisions. However, it rarely considers the effect of overconfidence bias on the formation of risk perception and risk tolerance, which eventually direct investment decisions. This research aims to examine the simultaneous effect of overconfidence bias, financial literacy, risk perception, and risk tolerance on investment decisions. Quantitative research by collecting data through an online survey was performed to answer the research questions. Data from 245 Indonesian millennial investors were analyzed using PLS-SEM. The findings supported the direct effect of overconfidence bias and financial literacy on investment decisions. The effects of overconfidence bias and financial literacy on investment decisions via risk tolerance and risk perception were also verified, except for the effect of overconfidence bias on risk perception which did not show a significant effect.
{"title":"Effect of Psychological Factors on Investment Decisions of Millennial Investors in an Emerging Country","authors":"Prabarani Palma Pramita, Tuning Rahayu, Chindira Kusvirgianie Diono, Evelyn Hendriana","doi":"10.5539/ijef.v15n11p83","DOIUrl":"https://doi.org/10.5539/ijef.v15n11p83","url":null,"abstract":"Behavioral finance research has examined the relationship between overconfidence bias and investment decisions. However, it rarely considers the effect of overconfidence bias on the formation of risk perception and risk tolerance, which eventually direct investment decisions. This research aims to examine the simultaneous effect of overconfidence bias, financial literacy, risk perception, and risk tolerance on investment decisions. Quantitative research by collecting data through an online survey was performed to answer the research questions. Data from 245 Indonesian millennial investors were analyzed using PLS-SEM. The findings supported the direct effect of overconfidence bias and financial literacy on investment decisions. The effects of overconfidence bias and financial literacy on investment decisions via risk tolerance and risk perception were also verified, except for the effect of overconfidence bias on risk perception which did not show a significant effect.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"35 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136133355","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}
Cleunice Zanella, Andre L. S. Leite, Nei A. Nunes, Sandro V. Soares, Ivone Junges
The existence of plural forms of governance in the same production chain poses challenges to theories on vertical boundaries of companies. The goal of this article is to analyse the plural forms of governance in an agro-industrial cooperative located in southern Brazil. This is a case study with a descriptive, qualitative approach for assessment of the governance structure in the six main links of the poultry production chain, namely: matrix, hatchery, feeding, poultry farmers, slaughterhouses and distributors. Data collection was performed through interviews with managers involved in the production chain. Plural and singular forms of governance can coexist, tending towards a vertical integration. In the distribution process, the plural form tends to remain stable as the different governance structures used to coordinate the same activity also serve different markets. In addition, the need to control and reduce the production costs is pointed out as the main reason for establishing a hierarchical structure for governance. This study sought to contribute to the theoretical analysis of plural and single forms of governance by demonstrating that both can coexist within a company.
{"title":"Plural Forms of Governance: Evidence from a Poultry Cooperative in Southern Brazil","authors":"Cleunice Zanella, Andre L. S. Leite, Nei A. Nunes, Sandro V. Soares, Ivone Junges","doi":"10.5539/ijef.v15n11p54","DOIUrl":"https://doi.org/10.5539/ijef.v15n11p54","url":null,"abstract":"The existence of plural forms of governance in the same production chain poses challenges to theories on vertical boundaries of companies. The goal of this article is to analyse the plural forms of governance in an agro-industrial cooperative located in southern Brazil. This is a case study with a descriptive, qualitative approach for assessment of the governance structure in the six main links of the poultry production chain, namely: matrix, hatchery, feeding, poultry farmers, slaughterhouses and distributors. Data collection was performed through interviews with managers involved in the production chain. Plural and singular forms of governance can coexist, tending towards a vertical integration. In the distribution process, the plural form tends to remain stable as the different governance structures used to coordinate the same activity also serve different markets. In addition, the need to control and reduce the production costs is pointed out as the main reason for establishing a hierarchical structure for governance. This study sought to contribute to the theoretical analysis of plural and single forms of governance by demonstrating that both can coexist within a company.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"8 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135168203","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}
As one of the three major financial centers in the world, Hong Kong has a wide range of financial products in the market. However, there is a scarcity of short-term (less than five years) investment products (Sun, 2022). Through data collection, reasons analysis, and results exposition, the current study investigates and summarizes various reasons behind this phenomenon, such as sequelae of “Black Swan” Events, historical factors, low deposit interest rates, etc. The article aims to elucidate the impact of the lack of short-term financial products in the local financial landscape and explore potential solutions to address those issues. These analytical findings will help policymakers, financial institutions, and citizens of Hong Kong to have a more comprehensive understanding of the challenges and opportunities in Hong Kong's financial industry.
{"title":"Analysis: Why Short-Term Financial Products Lack in Hong Kong","authors":"Zecheng Lin","doi":"10.5539/ijef.v15n11p49","DOIUrl":"https://doi.org/10.5539/ijef.v15n11p49","url":null,"abstract":"As one of the three major financial centers in the world, Hong Kong has a wide range of financial products in the market. However, there is a scarcity of short-term (less than five years) investment products (Sun, 2022). Through data collection, reasons analysis, and results exposition, the current study investigates and summarizes various reasons behind this phenomenon, such as sequelae of “Black Swan” Events, historical factors, low deposit interest rates, etc. The article aims to elucidate the impact of the lack of short-term financial products in the local financial landscape and explore potential solutions to address those issues. These analytical findings will help policymakers, financial institutions, and citizens of Hong Kong to have a more comprehensive understanding of the challenges and opportunities in Hong Kong's financial industry.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"35 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135166070","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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