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The Readiness of Malaysia Digital Economy: A Study of Three Government Policies from 1991 to 2020 马来西亚数字经济的准备:1991 - 2020年三次政府政策研究
Q2 Economics, Econometrics and Finance Pub Date : 2022-11-30 DOI: 10.5539/ijef.v14n12p84
B. Edrak, Zaamah Mohd Nor, A. Shaik
The Malaysian government has foreseen the importance of the digital economy to the nation since 1996. In 1996 and 1998, respectively, the Malaysia Digital Economy Development (MDEC) and Malaysian Communications and Multimedia Commission (MCMC) were established to regulate the industry and articulate digital economy initiatives both from public and private sectors. This study aims to review the digital economy policies introduced by three governments, i.e. Barisan Nasional, Pakatan Harapan and Perikatan Nasional, since the Independence in 1957 until 2020. Each ruling government has announced its digital economy initiatives as significant contributors to the national economic development. The review of the policies will include the Malaysia Plans, yearly budgets and economic stimulus packages. The outcome of this review will significantly help to evaluate the country’s readiness in embarking on the digital economy, and provide recommendations for future digital economy initiatives.
自1996年以来,马来西亚政府已经预见到数字经济对国家的重要性。1996年和1998年分别成立了马来西亚数字经济发展(MDEC)和马来西亚通信和多媒体委员会(MCMC),以规范行业并阐明公共和私营部门的数字经济举措。本研究旨在回顾自1957年马来西亚独立至2020年,马来西亚国阵、希望联盟及国民阵线三届政府所推行的数码经济政策。历届政府都把数字经济作为对国家经济发展的重要贡献而发表。对政策的审查将包括马来西亚计划、年度预算和经济刺激计划。此次审查的结果将大大有助于评估该国开展数字经济的准备情况,并为未来的数字经济举措提供建议。
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引用次数: 0
A Systematic Review of Sustainable Investment Approaches 可持续投资方法的系统回顾
Q2 Economics, Econometrics and Finance Pub Date : 2022-11-29 DOI: 10.5539/ijef.v14n12p72
Charney S. Akala, Taryn Neuhaus, Indrani O’ Leary-Govender
The article examined three widely accepted approaches to sustainable investing: Socially Responsible Investing (SRI), Environmental, Social and Governance (ESG), and impact investing. Nevertheless, these sustainable investment strategies are under-institutionalised, characterised by a lack of consistent terminology and mixed return performance. Given that these inconsistencies are prevalent in academic research regarding sustainable investing, the paper aimed to perform a systematic review of related studies to compare, contrast and consolidate these sustainable investment approaches. The findings of this study reveal overlapping conceptual frameworks between SRI, ESG and impact investing. The paper recommends the development of a consistent conceptual framework for sustainable investing.
本文研究了三种被广泛接受的可持续投资方法:社会责任投资(SRI)、环境、社会和治理(ESG)以及影响力投资。然而,这些可持续投资策略缺乏制度化,其特点是缺乏一致的术语和参差不齐的回报表现。鉴于这些不一致性在可持续投资的学术研究中普遍存在,本文旨在对相关研究进行系统回顾,以比较、对比和巩固这些可持续投资方法。本研究的发现揭示了SRI、ESG和影响力投资之间重叠的概念框架。该文件建议为可持续投资制定一致的概念框架。
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引用次数: 0
The Absence of a Sunk Cost Effect in a Long Shot Gamble and Scams 长期赌博和诈骗中沉没成本效应的缺失
Q2 Economics, Econometrics and Finance Pub Date : 2022-11-17 DOI: 10.5539/ijef.v14n12p68
Sam Y. Yu
Why do people fall for scams? This paper presents an experiment about the effect of a sunk cost on unwise decision making. This experiment portrays a scam involved in a long shot gamble. The experiment uses two conditions; one condition hosts the sunk cost effect, and the other without the effect. These two conditions help reveal the fact if a sunk cost effect indeed presents itself in scams. The results of said experiment did not indicate a significant difference between the two conditions, suggesting that a sunk cost effect most likely does not play a big role in scams.
为什么人们会上当受骗?本文提出了一个关于沉没成本对不明智决策影响的实验。这个实验描绘了一个涉及高风险赌博的骗局。实验采用两种条件;一种情况有沉没成本效应,另一种情况没有。这两个条件有助于揭示一个事实,即沉没成本效应是否确实出现在骗局中。上述实验的结果并没有显示出两种情况之间的显著差异,这表明沉没成本效应很可能在骗局中起不到很大作用。
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引用次数: 0
Alignment Vetting of Bloomberg’s ISS: QualityScore [GQS]: Frequency of Provision of ESG & Related Disclosure Scores 彭博社ISS: QualityScore的一致性审查[GQS]:提供ESG和相关披露分数的频率
Q2 Economics, Econometrics and Finance Pub Date : 2022-11-05 DOI: 10.5539/ijef.v14n12p40
chuo-hsuan Lee, E. Lusk, Karen Naaman, Osamuyimen Omorogbe-Akpata
Context The Environment, Social, and Governance [ESGÓ]-platform offered by BloombergÔ Professional Services [https://www.bloomberg.com/professional/] is a leading source of relevant, reliable, and timely information on the context within which market trading firms operate. The ESG-platform of the Bloomberg Terminals [BBT] includes more than 2,000 data fields that provide intel to aid in better understanding the “Stakeholder-impact” of the firm’s activities. One of the sub-platforms therein is the Institutional Shareholder Services [ISS] which offers Governance QualityScores: (GQSÔ). The BBT[ISS[GQS]]-platform is a data-driven approach to scoring & screening designed to help investors monitor a company’s control of governance risk. Previous studies have provided vetting information of the BBT[ISS[GQS]]-platform. As an enhancement to these vetting-studies, we offer the following. Study Design In the ESG-Platform, there are Disclosure Scores for: The General [ESG], Environment, Social & Governance categories. The vetting question of interest is: Does the ISS score those firms that provide more Disclosure information as ISS[1] and those firms that provide less as ISS[10]? If so, this would cast doubt on the relevance and reliability of the ISS-assignment taxonomy. Results We discuss the critical role of vetting. Then, the Dul: Necessity & Sufficiency Screen is offered as the organizing logic of the Inferential vetting platform. Finally, using the Gold Standard test: Linear Discriminant Analysis for the vetting inference, it is clear that the ISS-assignment is not aligned with the degree of provision of disclosure information for any of the four ESG-Disclosure Score variables. Thus, these vetting results are not inconsistent with a functioning taxonomic-allocation platform. 
由BloombergÔ Professional Services [https://www.bloomberg.com/professional/]提供的环境、社会和治理平台[ESGÓ]是有关市场交易公司运作环境的相关、可靠和及时信息的主要来源。彭博终端(BBT)的esg平台包括2000多个数据字段,这些数据字段提供的信息有助于更好地理解公司活动的“利益相关者影响”。其中一个子平台是机构股东服务(ISS),它提供治理质量评分:(GQSÔ)。BBT[ISS[GQS]]平台是一种数据驱动的评分和筛选方法,旨在帮助投资者监控公司对治理风险的控制。以前的研究已经提供了BBT[ISS[GQS]]平台的审查信息。作为对这些审查研究的加强,我们提供以下内容。在ESG平台中,有以下披露得分:一般[ESG],环境,社会和治理类别。利益的审查问题是:ISS是否将那些提供更多披露信息的公司评为ISS[1],而将那些提供较少信息的公司评为ISS[10]?如果是这样,这将使人们对iss分配分类法的相关性和可靠性产生怀疑。结果讨论了审评的关键作用。然后,提出了必要性和充分性筛选作为推理审查平台的组织逻辑。最后,使用黄金标准检验:线性判别分析进行审查推理,很明显iss分配与四个esg披露得分变量中任何一个的披露信息提供程度都不一致。因此,这些审查结果与功能性分类分配平台并不矛盾。
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引用次数: 0
Financial Inclusion of Rural and Urban Households and the Dodd-Frank Act 城乡家庭普惠金融和多德-弗兰克法案
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-31 DOI: 10.5539/ijef.v14n11p90
Kumuditha D Hikkaduwa Epa Liyanage, Denis Nadolnyak, Valentina Hartarska
This paper examines the consequences of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 on financial inclusion in rural areas. The Act imposed changes in the U.S. banking industry that contributed to closures or consolidation of smaller community banks, mostly in the rural areas, that could not sustain the higher regulatory burden. We evaluate whether the Act had differential impacts on the financial inclusion of rural and urban unbanked households. Financial inclusion is measured by the utilization of banking services such as checking or savings account and by relying less on Alternative Financial Services (AFS). We employ the Changes-in-Changes quantile model to establish if rural unbanked households were more affected relative to their urban counterparts and provide robustness checks through ordered and binomial logistic regressions. We analyze both the short- and the long-term impacts of the Act using household-level data from the FDIC National Surveys of Unbanked and Underbanked Households. Results indicate that rural unbanked households on average were more likely to plan to open a bank account shortly after 2010 but the magnitude of the effect decreased in long-term. The rural unbanked households did not use more AFS services for credit and transaction purposes than urban households in the short term. However, in the long term, they increased their use of AFS for credit relative to their urban counterparts, likely because they were less able to obtain credit from banks. The policy implications point at the need to promote technologies that may help close the rural-urban financial inclusion gap and indentify a potential for combination of Fintech and banking services provision.
本文考察了2010年《多德-弗兰克华尔街改革与消费者保护法》对农村地区普惠金融的影响。该法案对美国银行业进行了改革,导致无法承受更高监管负担的小型社区银行关闭或合并,这些银行大多位于农村地区。我们评估了该法案是否对农村和城市无银行家庭的金融包容性产生了不同的影响。金融包容性是通过使用支票或储蓄账户等银行服务以及减少对替代金融服务(AFS)的依赖来衡量的。我们采用变化中的变化分位数模型来确定农村无银行账户家庭是否比城市无银行账户家庭受影响更大,并通过有序和二项逻辑回归提供鲁棒性检验。我们使用来自FDIC全国无银行账户和银行服务不足家庭调查的家庭层面数据来分析该法案的短期和长期影响。结果表明,2010年后,农村无银行账户家庭平均更有可能计划在短期内开设银行账户,但从长期来看,其影响程度有所下降。在短期内,农村无银行家庭使用AFS服务进行信贷和交易的次数并不比城市家庭多。然而,从长期来看,相对于城市的同行,他们增加了对AFS的使用,可能是因为他们从银行获得信贷的能力较差。政策影响表明,需要推广有助于缩小城乡普惠金融差距的技术,并确定金融科技与银行服务提供相结合的潜力。
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引用次数: 0
Reviewer Acknowledgements for International Journal of Economics and Finance, Vol. 14, No. 11 《International Journal of Economics and Finance》,Vol. 14, No. 11
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-31 DOI: 10.5539/ijef.v14n11p104
Michael Zhang
Reviewer Acknowledgements for International Journal of Economics and Finance, Vol. 14, No. 11
《International Journal of Economics and Finance》,Vol. 14, No. 11
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引用次数: 0
The Determinants of National Savings in West African Countries: A Time Series and Dynamic Panel Data Analysis 西非国家国民储蓄的决定因素:时间序列和动态面板数据分析
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-27 DOI: 10.5539/ijef.v14n11p74
N'guessan Tchetche, Beunon Pallaye
The objective of this paper is to analyze the determinants of national savings in West African countries, using both time series analysis and panel data over the period 1980–2020. To do so, we used the Autoregressive Distributed Lag (ARDL) model through the cointegration approach of boundary tests to check the robustness of the long-run relationship and the error correction mechanism (ECM) to capture the short-run dynamics between savings and its determinants. The results revealed that domestic income was a statistically significant determinant of national savings in the short and long run in West Africa. Based on the empirical results of the panel data, the results reveal that the current account positively influences savings in English countries in both the short and long run. On the other hand, domestic income and value added in agriculture were found to be determinants of savings in Francophone countries. It is recommended that, in order to promote savings, growth and economic development, policies aimed at improving labor productivity and the balance of trade are essential to increase savings rates in West Africa.
本文的目的是利用1980-2020年期间的时间序列分析和面板数据,分析西非国家国民储蓄的决定因素。为此,我们使用自回归分布滞后(ARDL)模型,通过边界检验的协整方法来检验长期关系的稳健性,并使用误差修正机制(ECM)来捕捉储蓄与其决定因素之间的短期动态。结果显示,国内收入是西非国家短期和长期储蓄的统计显著决定因素。根据面板数据的实证结果,结果显示经常账户在短期和长期都对英国国家的储蓄产生积极影响。另一方面,发现国内收入和农业增加值是法语国家储蓄的决定因素。兹建议,为了促进储蓄、增长和经济发展,旨在提高劳动生产率和贸易平衡的政策对于提高西非的储蓄率至关重要。
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引用次数: 0
Regulatory Capital Requirements and Risk Taking Behaviour: Evidence from the Malawi Banking System 监管资本要求和风险承担行为:来自马拉维银行系统的证据
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-27 DOI: 10.5539/ijef.v14n11p60
Onelie Nkuna, Marrium Mustapher
Proponents of stringent regulation argue in favor of higher capital requirements that it promotes financial stability, while opponents argue that capital requirements might not enhance stability but might in fact increase a bank’s riskiness. In this paper, we test this hypothesis with a dynamic panel data model for eight Malawian commercial banks using GMM estimation technique. Our results reveal that there is high persistency in risk-taking behavior of Malawian banks. Further, the study finds that high capital ratios reduce risk-taking behavior of Malawian banks through reduction in NPLs ratio and investment in high risky-assets. Based on these results, imposition of stringent penalties on banks that fail to meet minimum capital requirements and strict enforcement of regulation is key to ensuring that all banks sustain sufficient capital buffers and hence safeguard stability of banking system. However, contrary to corporate governance propositions, the study finds that the structure of board of directors does not significantly influence the impact of capital regulation on bank risk taking in Malawi.
支持严格监管的人认为,提高资本金要求有助于促进金融稳定,而反对者则认为,资本金要求可能不会增强稳定性,反而可能增加银行的风险。在本文中,我们使用GMM估计技术对八家马拉维商业银行的动态面板数据模型进行了检验。我们的研究结果表明,马拉维银行的冒险行为具有很高的持久性。此外,研究发现,高资本比率通过降低不良贷款率和高风险资产投资来减少马拉维银行的冒险行为。基于这些结果,对未能达到最低资本要求的银行实施严厉惩罚和严格执行监管是确保所有银行维持足够资本缓冲从而维护银行体系稳定的关键。然而,与公司治理命题相反,研究发现董事会结构并没有显著影响马拉维资本监管对银行风险承担的影响。
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引用次数: 0
Economic Policy Uncertainty, Corporate Risk-Taking and Abnormal Audit Fees 经济政策不确定性、企业风险承担与审计费用异常
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-25 DOI: 10.5539/ijef.v14n12p28
Jinfeng Wang, Ran Zhu
As a result of economic imbalances, global turmoil, and catastrophic global health events, economic policy uncertainty is rising across countries, and corporate risk taking is heterogeneous, which can affect auditors’ decisions. This paper explores the impact of economic policy uncertainty on abnormal audit fees based on a corporate risk-taking perspective, using A-share listed companies in China from 2007-2019 as a research sample. According to the research, the level of abnormal audit fees increases as economic policy uncertainty increases, and corporate risk-taking worsens the correlation. Further research shows that higher economic policy uncertainty leads auditors to increase additional inputs and charge a higher compensation for audit risks, resulting in a larger positive and negative abnormal audit fee. Additionally, the positive association between economic policy uncertainty and abnormal audit fees is present in non-state-owned enterprises, while it is not significant in state-owned enterprises.
由于经济失衡、全球动荡和灾难性的全球卫生事件,各国经济政策的不确定性正在上升,企业承担的风险也各不相同,这可能影响审计人员的决策。本文基于企业风险承担视角,以2007-2019年中国a股上市公司为研究样本,探讨经济政策不确定性对审计费用异常的影响。研究发现,审计费用异常水平随着经济政策不确定性的增加而增加,企业风险承担加剧了这种相关性。进一步研究表明,较高的经济政策不确定性导致审计人员增加额外投入,对审计风险收取更高的补偿,从而导致较大的正、负异常审计费用。此外,非国有企业存在经济政策不确定性与审计费用异常之间的正相关关系,而国有企业不显著。
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引用次数: 3
Political Parties and Hate Crimes: Empirical Evidence from the United States 政党与仇恨犯罪:来自美国的经验证据
Q2 Economics, Econometrics and Finance Pub Date : 2022-10-20 DOI: 10.5539/ijef.v14n11p46
Matheus A. S. Souza, Paulo R. A. Loureiro, G. L. Bertussi, George H. M. Cunha, T. Moreira
This paper evaluates the relationship between political parties and hate crimes in the US, based on the empirical models, considering a panel data with 47 states from 1997 to 2019. Results show that a Democratic president is correlated with fewer crimes of hate if compared with a Republican. Such a result might occur due to different public policies according to the political party in power. Results also show that Democratic governors have a positive correlation with hate crimes, but further exercises show that this is only true for Southern states. In non-Southern states, Democratic governors are negatively correlated with hate crimes.
本文利用1997年至2019年美国47个州的面板数据,基于实证模型评估了美国政党与仇恨犯罪之间的关系。结果显示,与共和党总统相比,民主党总统与更少的仇恨犯罪相关。这种结果可能是由于执政政党的公共政策不同而产生的。结果还显示,民主党州长与仇恨犯罪呈正相关,但进一步的研究表明,这只适用于南方各州。在非南方各州,民主党州长与仇恨犯罪呈负相关。
{"title":"Political Parties and Hate Crimes: Empirical Evidence from the United States","authors":"Matheus A. S. Souza, Paulo R. A. Loureiro, G. L. Bertussi, George H. M. Cunha, T. Moreira","doi":"10.5539/ijef.v14n11p46","DOIUrl":"https://doi.org/10.5539/ijef.v14n11p46","url":null,"abstract":"This paper evaluates the relationship between political parties and hate crimes in the US, based on the empirical models, considering a panel data with 47 states from 1997 to 2019. Results show that a Democratic president is correlated with fewer crimes of hate if compared with a Republican. Such a result might occur due to different public policies according to the political party in power. Results also show that Democratic governors have a positive correlation with hate crimes, but further exercises show that this is only true for Southern states. In non-Southern states, Democratic governors are negatively correlated with hate crimes.","PeriodicalId":37166,"journal":{"name":"International Journal of Economics and Finance Studies","volume":"7 2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78366908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
期刊
International Journal of Economics and Finance Studies
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