The provision of finance is the key to the survival and success of new firms. The current paper examines the startup firms’ finance acquisition through the viewpoint of financial growth cycle theory. We used chi-square and Mann-Whitney U tests to examine our hypotheses. Our study uses data from 386 Indian startup entrepreneurs over the period 2019 – 2021. Our results show that the startups access angel finance significantly in the initial years and the venture capital, banks and NBFCs in their later stage of life. Our findings argue that Indian startups partially follow the financing patterns proposed by the financial growth cycle theory.
{"title":"THE ECONOMICS OF STARTUP BUSINESS FINANCE: AN INVESTIGATION THROUGH THE LENS OF FINANCIAL GROWTH CYCLE THEORY","authors":"Yesubabu Konga, K. Ramaiah","doi":"10.59091/1410-8046.2071","DOIUrl":"https://doi.org/10.59091/1410-8046.2071","url":null,"abstract":"The provision of finance is the key to the survival and success of new firms. The current paper examines the startup firms’ finance acquisition through the viewpoint of financial growth cycle theory. We used chi-square and Mann-Whitney U tests to examine our hypotheses. Our study uses data from 386 Indian startup entrepreneurs over the period 2019 – 2021. Our results show that the startups access angel finance significantly in the initial years and the venture capital, banks and NBFCs in their later stage of life. Our findings argue that Indian startups partially follow the financing patterns proposed by the financial growth cycle theory.","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132377370","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}
To examine the technological innovation and labor structure nexus at micro level in Vietnam, this paper depends on a comprehensive dataset retrieved from the Vietnam SME Survey (VSMES) between 2005 and 2015. After accounting for endogeneity and firm heterogeneity, this study finds that technological innovation exhibits significantly positive impact on total labor of Vietnam’s SMEs. Moreover, technological innovation adoption is associated with higher rate of skilled labor while lowering the rate of unskilled labor in firms. The same results are discovered for manufacturing firms; however, the employment effect of technological innovation seems only significant in low-technology sectors.
{"title":"The impact of technological innovation on labor structure: Evidence from Vietnam SMEs","authors":"Dam Duc Le","doi":"10.59091/1410-8046.2067","DOIUrl":"https://doi.org/10.59091/1410-8046.2067","url":null,"abstract":"To examine the technological innovation and labor structure nexus at micro level in Vietnam, this paper depends on a comprehensive dataset retrieved from the Vietnam SME Survey (VSMES) between 2005 and 2015. After accounting for endogeneity and firm heterogeneity, this study finds that technological innovation exhibits significantly positive impact on total labor of Vietnam’s SMEs. Moreover, technological innovation adoption is associated with higher rate of skilled labor while lowering the rate of unskilled labor in firms. The same results are discovered for manufacturing firms; however, the employment effect of technological innovation seems only significant in low-technology sectors.","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114607611","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":"PRICE SETTING BEHAVIOR IN AN ONLINE MARKET","authors":"F. Indawan, A. Sasongko, Dian Rahmawati","doi":"10.59091/1410-8046.2065","DOIUrl":"https://doi.org/10.59091/1410-8046.2065","url":null,"abstract":",","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132652505","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":"Synergy of Economic Policies and Innovation in Driving\u0000Momentum for Sustainable Global Economic Recovery\u0000in the Era of Digital Transformation\u0000The 16 th BMEB International Conference Special Issue","authors":"","doi":"10.59091/1410-8046.2062","DOIUrl":"https://doi.org/10.59091/1410-8046.2062","url":null,"abstract":"","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"99 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127116587","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":"RISK APPETITE AND FOREIGN EXCHANGE INTERVENTION IN AN INFLATION-TARGETING FRAMEWORK: THE CASE OF INDONESIA","authors":"Alexander Lubis, Constantinos Alexiou, J. Nellis","doi":"10.59091/1410-8046.2044","DOIUrl":"https://doi.org/10.59091/1410-8046.2044","url":null,"abstract":"","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114068326","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":"BONDS AND SUKUK MARKETS UNDER COVID 19: AN EMPIRICAL STUDY OF EMERGING MARKETS","authors":"Nevi Danila","doi":"10.59091/1410-8046.2048","DOIUrl":"https://doi.org/10.59091/1410-8046.2048","url":null,"abstract":"","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121620501","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 paper examines the interrelationship between inflation, inflation uncertainty, growth, and growth uncertainty. We find a negative effect of output uncertainty on output growth and a positive effect of output growth on output uncertainty. Inflation uncertainty has a negative effect on the inflation rate, suggesting that there is a stabilizing motive during high periods of high inflation, where the policy lowers inflation uncertainty to minimize the economic welfare costs of deflationary actions. However, inflation has a positive effect on inflation uncertainty suggesting that agents may devote more resources to inflation forecasting in a rising inflation environment, which reduces uncertainty. We also find a negative relation between inflation and growth, suggesting that a moderate trend of growth and inflation should be maintained to achieve desirable effects on the economy.
{"title":"INTERLINKAGE OF MACROECONOMIC UNCERTAINTY AND MACROECONOMIC PERFORMANCE: EVIDENCE FROM ASEAN-5 COUNTRIES PANEL VAR","authors":"Rifai Afin","doi":"10.59091/1410-8046.2045","DOIUrl":"https://doi.org/10.59091/1410-8046.2045","url":null,"abstract":"This paper examines the interrelationship between inflation, inflation uncertainty, growth, and growth uncertainty. We find a negative effect of output uncertainty on output growth and a positive effect of output growth on output uncertainty. Inflation uncertainty has a negative effect on the inflation rate, suggesting that there is a stabilizing motive during high periods of high inflation, where the policy lowers inflation uncertainty to minimize the economic welfare costs of deflationary actions. However, inflation has a positive effect on inflation uncertainty suggesting that agents may devote more resources to inflation forecasting in a rising inflation environment, which reduces uncertainty. We also find a negative relation between inflation and growth, suggesting that a moderate trend of growth and inflation should be maintained to achieve desirable effects on the economy.","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126464700","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}
Agus Widarjono, Md. Mahmudul Alam, E. Atmadji, Priyonggo Suseno, Listya Endang Artiani
{"title":"THE ASYMMETRIC EXCHANGE RATE PASS-THROUGH TO INFLATION IN THE SELECTED ASEAN COUNTRIES","authors":"Agus Widarjono, Md. Mahmudul Alam, E. Atmadji, Priyonggo Suseno, Listya Endang Artiani","doi":"10.59091/1410-8046.2047","DOIUrl":"https://doi.org/10.59091/1410-8046.2047","url":null,"abstract":"","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130100219","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 paper investigates the impact of openness variables, i.e., Foreign Direct Investment (FDI), exports, and imports, on productivity and efficiency. By employing annual data from the 13 countries from 2001 to 2018, this study confirms that openness variables affect countries’ productivity and efficiency. Productivity will improve when FDI interacts with human capital and intra-and inter-region exports, as well as when inter-region imports interact with human capital. Meanwhile, efficiency will enhance along with the enhancement of FDI, human capital, and intra-region imports. This study emphasises the importance of minimising underutilised capital and optimising production cost and managerial expertise
{"title":"EFFICIENCY, PRODUCTIVITY, AND OPENNESS: EMPIRICAL EVIDENCE FROM ASEAN PLUS THREE ECONOMIES","authors":"M. Yasin","doi":"10.59091/1410-8046.2046","DOIUrl":"https://doi.org/10.59091/1410-8046.2046","url":null,"abstract":"This paper investigates the impact of openness variables, i.e., Foreign Direct Investment (FDI), exports, and imports, on productivity and efficiency. By employing annual data from the 13 countries from 2001 to 2018, this study confirms that openness variables affect countries’ productivity and efficiency. Productivity will improve when FDI interacts with human capital and intra-and inter-region exports, as well as when inter-region imports interact with human capital. Meanwhile, efficiency will enhance along with the enhancement of FDI, human capital, and intra-region imports. This study emphasises the importance of minimising underutilised capital and optimising production cost and managerial expertise","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124603734","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":"FORECASTING EXCHANGE RATE VOLATILITY IN INDIA UNDER UNIVARIATE AND MULTIVARIATE ANALYSIS","authors":"S. Rai, A. Sharma","doi":"10.59091/1410-8046.2050","DOIUrl":"https://doi.org/10.59091/1410-8046.2050","url":null,"abstract":"","PeriodicalId":371782,"journal":{"name":"Bulletin of Monetary Economics and Banking","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129718472","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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