This paper aims to identify, critically evaluate, and synthesize extant literature on Islamic green bonds. This study also identifies gaps and limitations in green Sukuk literature to highlight areas for further development of knowledge in this field of study. The study utilized a scoping review to identify all relevant literature from the EBSCO Host, Emerald, and Google Scholar databases. Our findings suggest that the concept of green sukuk is still emergent, and there are several gaps regarding the technical definitions and green taxonomy that need to be addressed. In addition, we discovered that there is a significant demand for sustainable investments, and the potential for liquid Islamic economies to supply this demand makes green sukuk an attractive investment option. Furthermore, the limitations of conventional green bonds in attracting Islamic investment further support the development of green sukuk. However, we also identified factors that hinder the development of green sukuk. The emergent nature of the concept and the lack of consistent green taxonomy for sukuk create a lack of understanding and hinder the development of effective legal frameworks. To overcome these challenges, we recommend that academics and Islamic scholars work towards developing a clear green taxonomy for sukuk. Such a taxonomy would help regulators develop a stronger legal framework for green sukuk and facilitate the growth of the market.
{"title":"A Systematic Review on the Green Sukuk after Paris-Agreement","authors":"Soud Almutairi","doi":"10.5296/ieb.v9i1.21110","DOIUrl":"https://doi.org/10.5296/ieb.v9i1.21110","url":null,"abstract":"This paper aims to identify, critically evaluate, and synthesize extant literature on Islamic green bonds. This study also identifies gaps and limitations in green Sukuk literature to highlight areas for further development of knowledge in this field of study. The study utilized a scoping review to identify all relevant literature from the EBSCO Host, Emerald, and Google Scholar databases. Our findings suggest that the concept of green sukuk is still emergent, and there are several gaps regarding the technical definitions and green taxonomy that need to be addressed. In addition, we discovered that there is a significant demand for sustainable investments, and the potential for liquid Islamic economies to supply this demand makes green sukuk an attractive investment option. Furthermore, the limitations of conventional green bonds in attracting Islamic investment further support the development of green sukuk. However, we also identified factors that hinder the development of green sukuk. The emergent nature of the concept and the lack of consistent green taxonomy for sukuk create a lack of understanding and hinder the development of effective legal frameworks. To overcome these challenges, we recommend that academics and Islamic scholars work towards developing a clear green taxonomy for sukuk. Such a taxonomy would help regulators develop a stronger legal framework for green sukuk and facilitate the growth of the market.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121022967","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}
Despite the prominence of trade liberalization or openness as an economic topic over last decades, the debate among economists and experts on the relationship between trade openness and economic growth is still open. This study purposed to examine, as the main objective, the impact of trade openness on economic growth in Ghana from 1990 to 2019. The study sought to investigate the relationship between trade openness and economic growth in Ghana. The study incorporated trade openness, investment, inflation, industrial value and labour force as the additional variables. In view of this, the Granger causality test was applied to ascertain the flow of information between time series which helped to make authentic forecasts of the data and model. To test for stationarity of the data, the augments Dickey-Fuller (ADF) (Dickey and Fuller, 1981) was applied. The findings of the evaluation suggest that trade openness has a negative impact on the Ghanaian economy and the degree of influence on Economic Growth is at a 1% level of significance and not statistically strong. This result is consistent with other studies including (Pickson et al, 2018; Kwegyir-Aggrey, 2019). Also, the study was aimed towards advocating some substantial policies for Ghana’s policymakers to help develop trade and economic growth.
尽管在过去的几十年里，贸易自由化或开放作为一个经济话题得到了突出的地位，但经济学家和专家之间关于贸易开放与经济增长之间关系的争论仍然存在。本研究旨在考察1990年至2019年加纳贸易开放对经济增长的影响，作为主要目标。这项研究试图调查加纳贸易开放和经济增长之间的关系。该研究将贸易开放程度、投资、通货膨胀、工业价值和劳动力作为附加变量。鉴于此，采用格兰杰因果检验来确定时间序列之间的信息流动，有助于对数据和模型做出真实的预测。为了检验数据的平稳性，采用了Dickey-Fuller (ADF) (Dickey and Fuller, 1981)的增广。评估结果表明，贸易开放对加纳经济有负面影响，对经济增长的影响程度在1%的显著水平上，统计上不强。这一结果与其他研究一致，包括(Pickson et al .， 2018;Kwegyir-Aggrey, 2019)。此外，这项研究的目的是为加纳的政策制定者倡导一些实质性的政策，以帮助发展贸易和经济增长。
{"title":"Examining The Influence of Trade Openness on the Economic Growth of Ghana","authors":"Gerald Nsorlemna Aperegdina","doi":"10.5296/ieb.v8i1.19557","DOIUrl":"https://doi.org/10.5296/ieb.v8i1.19557","url":null,"abstract":"Despite the prominence of trade liberalization or openness as an economic topic over last decades, the debate among economists and experts on the relationship between trade openness and economic growth is still open. This study purposed to examine, as the main objective, the impact of trade openness on economic growth in Ghana from 1990 to 2019. The study sought to investigate the relationship between trade openness and economic growth in Ghana. The study incorporated trade openness, investment, inflation, industrial value and labour force as the additional variables. In view of this, the Granger causality test was applied to ascertain the flow of information between time series which helped to make authentic forecasts of the data and model. To test for stationarity of the data, the augments Dickey-Fuller (ADF) (Dickey and Fuller, 1981) was applied. The findings of the evaluation suggest that trade openness has a negative impact on the Ghanaian economy and the degree of influence on Economic Growth is at a 1% level of significance and not statistically strong. This result is consistent with other studies including (Pickson et al, 2018; Kwegyir-Aggrey, 2019). Also, the study was aimed towards advocating some substantial policies for Ghana’s policymakers to help develop trade and economic growth.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"107 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123244010","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}
It is said that public finance must be balanced at least in the long run. According to the so-called MMT (Modern Money Theory or Modern Monetary Theory) approach, however, this is not true. It is often pointed out that MMT lacks the mathematical analysis used in ordinary economic discussions. The purpose of this paper is to present a brief theoretical and mathematical basis to the backbone of the MMT argument, while maintaining the basics of the neoclassical microeconomic framework, such as maximizing consumer utility through utility functions and budget constraints, and equilibrium between demand and supply of goods under perfect competition with constant returns to scale technology. Using a simple overlapping generations (OLG) model that includes economic growth due to technological progress, we present the following results. The budget deficit equals the increase in people's savings, and the accumulated budget deficit equals people's savings. The budget deficit is a cause and the savings is a consequence, not the other way around. Deficits are created by the government, which determines income, which determines savings. Deficits create savings, not savings finance deficits. Reducing the budget deficit will reduce savings, income, and consumption.
{"title":"On Accumulation of the Budget Deficit: Spirit of MMT Through Mathematical Analysis","authors":"Yasuhito Tanaka","doi":"10.5296/ieb.v8i1.19762","DOIUrl":"https://doi.org/10.5296/ieb.v8i1.19762","url":null,"abstract":"It is said that public finance must be balanced at least in the long run. According to the so-called MMT (Modern Money Theory or Modern Monetary Theory) approach, however, this is not true. It is often pointed out that MMT lacks the mathematical analysis used in ordinary economic discussions. The purpose of this paper is to present a brief theoretical and mathematical basis to the backbone of the MMT argument, while maintaining the basics of the neoclassical microeconomic framework, such as maximizing consumer utility through utility functions and budget constraints, and equilibrium between demand and supply of goods under perfect competition with constant returns to scale technology. Using a simple overlapping generations (OLG) model that includes economic growth due to technological progress, we present the following results. The budget deficit equals the increase in people's savings, and the accumulated budget deficit equals people's savings. The budget deficit is a cause and the savings is a consequence, not the other way around. Deficits are created by the government, which determines income, which determines savings. Deficits create savings, not savings finance deficits. Reducing the budget deficit will reduce savings, income, and consumption.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123331735","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}
GDP (Gross Domestic Product) is an index that has been used by all free economy countries for almost a century. However, it has been criticized by many researchers and politicians for its misleading messages about the real wealth of people, its inability to evaluate the effect of environmentally harmful activities, the well-being of societies, the exclusion of non-market activities which exist in all economies, and the non-transactional services provided by the natural environment. This study aims to analyze and evaluate GDP and ten more alternative indicators as to their Simplicity, Comprehensibility, Completeness and Reliability, using a questionnaire addressed to experts, i.e., university professors. SWB (Subjective Well-Being) has been assessed as the preferred index for an overall evaluation, while the FSI (Failed States Index) ranks in the last position. GDP received its highest ranking as second in Reliability, with Gross National Income (GNI) ranking first. SWB refers to and evokes the direct democracy of 5th century Athens with its Simplicity, Comprehensibility, and Completeness, but not for its Reliability, due to the difficulty of its measurement. A combination of SWB with GNI might produce a reliable GDP alternative.
{"title":"From the Ancient Eudaimonia to Modern Indices: A Critical View","authors":"M. Diakomihalis","doi":"10.5296/ieb.v8i1.19650","DOIUrl":"https://doi.org/10.5296/ieb.v8i1.19650","url":null,"abstract":"GDP (Gross Domestic Product) is an index that has been used by all free economy countries for almost a century. However, it has been criticized by many researchers and politicians for its misleading messages about the real wealth of people, its inability to evaluate the effect of environmentally harmful activities, the well-being of societies, the exclusion of non-market activities which exist in all economies, and the non-transactional services provided by the natural environment. This study aims to analyze and evaluate GDP and ten more alternative indicators as to their Simplicity, Comprehensibility, Completeness and Reliability, using a questionnaire addressed to experts, i.e., university professors. SWB (Subjective Well-Being) has been assessed as the preferred index for an overall evaluation, while the FSI (Failed States Index) ranks in the last position. GDP received its highest ranking as second in Reliability, with Gross National Income (GNI) ranking first. SWB refers to and evokes the direct democracy of 5th century Athens with its Simplicity, Comprehensibility, and Completeness, but not for its Reliability, due to the difficulty of its measurement. A combination of SWB with GNI might produce a reliable GDP alternative.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131655905","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}
The sovereign debt market has gathered a lot of attention post the global financial recession therefore it is very important to study how the countries of the eurozone countries can be shielded from all internal and external risks. This can be achieved by examining the macroeconomic determinants of the sovereign risk. Based on the results of the panel regression, it becomes evident which financial indicators are contributing to the sovereign risk. In terms of the stochastic properties, when homogeneity is assumed among the cross-sectional units, all the variables appeared to be level stationary except for the total government bond yield. However, when heterogeneity is assumed among the countries, variables such total government bond yield, GDS as a percentage of GDP, total credit to private sector, employment as a ratio to total GDP, and bank credit are level none stationary. Consequently, these findings will help identify the variables that can be used to approximate the movement of the government bond yield.
{"title":"The Role of Macroeconomic Variables in Sovereign Risk","authors":"George Zairis, Antonios G. Zairis","doi":"10.5296/ieb.v6i1.16221","DOIUrl":"https://doi.org/10.5296/ieb.v6i1.16221","url":null,"abstract":"The sovereign debt market has gathered a lot of attention post the global financial recession therefore it is very important to study how the countries of the eurozone countries can be shielded from all internal and external risks. This can be achieved by examining the macroeconomic determinants of the sovereign risk. Based on the results of the panel regression, it becomes evident which financial indicators are contributing to the sovereign risk. In terms of the stochastic properties, when homogeneity is assumed among the cross-sectional units, all the variables appeared to be level stationary except for the total government bond yield. However, when heterogeneity is assumed among the countries, variables such total government bond yield, GDS as a percentage of GDP, total credit to private sector, employment as a ratio to total GDP, and bank credit are level none stationary. Consequently, these findings will help identify the variables that can be used to approximate the movement of the government bond yield.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127545241","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}
Under the situation of frequent corruption behaviors of government officials and strict requests on cracking down on corruption, using the panel data of provincial five-star hotels, this paper investigates the existence and continuity of development model of “Corruption Economy” in five-star hotel industry, and detects the way for sustainable development of five-star hotel industry on the background of anti-corruption from the perspective of marketization. The results show that degree of state corruption represented by Control of Corruption has a positive effect on the growth of five-star hotel industry. Anti-corruption policies in litigation system, the efforts of implementing these policies to combat corruption, and public’s perceived corruption and anti-corruption all verify a negative impact on five-star hotel industry. Practice shows that anti-corruption breaks the false prosperity of “corruption economy” model. Only with a perfect market system as well as fair market competition order, the five-star hotel industry can realize a sustainable growth.
{"title":"Corrupt Environment, Marketization Level and Growth of Five-star Hotel Industry","authors":"Tingting Zhou, Jing Yu, Ju-wei Shi","doi":"10.5296/ieb.v5i2.15890","DOIUrl":"https://doi.org/10.5296/ieb.v5i2.15890","url":null,"abstract":"Under the situation of frequent corruption behaviors of government officials and strict requests on cracking down on corruption, using the panel data of provincial five-star hotels, this paper investigates the existence and continuity of development model of “Corruption Economy” in five-star hotel industry, and detects the way for sustainable development of five-star hotel industry on the background of anti-corruption from the perspective of marketization. The results show that degree of state corruption represented by Control of Corruption has a positive effect on the growth of five-star hotel industry. Anti-corruption policies in litigation system, the efforts of implementing these policies to combat corruption, and public’s perceived corruption and anti-corruption all verify a negative impact on five-star hotel industry. Practice shows that anti-corruption breaks the false prosperity of “corruption economy” model. Only with a perfect market system as well as fair market competition order, the five-star hotel industry can realize a sustainable growth.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127267586","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}
The objective of the paper is to assess the interest rate pass-through in three EU candidate countries that is Albania, North Macedonia and Serbia. We rely on an error-correction model using monthly data over the period 2005-2019. Results suggest a complete interest rate pass-through in Albania, albeit it has been weakened during the economic and financial crisis. The relatively fast speed of adjustment indicates an effective interest rate transmission channel. In the Macedonian case, the changes of the monetary policy rate are transmitted completely to the bank lending rate, but not to the bank borrowing rate. The transmission via the money market rate has improved after the global economic and financial turmoil. In the case of Serbia, the results also suggest complete interest rate pass-through indicating that the monetary policy rate changes are transmitted into retail rates offered by the banks to savers and borrowers in the long run. Nevertheless, the speed of adjustment is relatively slow. In general, the estimated speed and extent of the response of money market interest rate and bank retail interest rates to changes in the monetary policy rate gives an indication of effective interest rate transmission channel in the case of Albania and Serbia. On the other hand, it is moderately effective in the case of North Macedonia given that the central bank rate changes affect mainly bank lending rate but not borrowing rate.
{"title":"Interest Rate Pass-Through in Three EU Candidate Countries: The Case of Albania, North Macedonia and Serbia","authors":"Igor Veličkovski, Daniela Mamuchevska","doi":"10.5296/ieb.v5i2.15362","DOIUrl":"https://doi.org/10.5296/ieb.v5i2.15362","url":null,"abstract":"The objective of the paper is to assess the interest rate pass-through in three EU candidate countries that is Albania, North Macedonia and Serbia. We rely on an error-correction model using monthly data over the period 2005-2019. Results suggest a complete interest rate pass-through in Albania, albeit it has been weakened during the economic and financial crisis. The relatively fast speed of adjustment indicates an effective interest rate transmission channel. In the Macedonian case, the changes of the monetary policy rate are transmitted completely to the bank lending rate, but not to the bank borrowing rate. The transmission via the money market rate has improved after the global economic and financial turmoil. In the case of Serbia, the results also suggest complete interest rate pass-through indicating that the monetary policy rate changes are transmitted into retail rates offered by the banks to savers and borrowers in the long run. Nevertheless, the speed of adjustment is relatively slow. In general, the estimated speed and extent of the response of money market interest rate and bank retail interest rates to changes in the monetary policy rate gives an indication of effective interest rate transmission channel in the case of Albania and Serbia. On the other hand, it is moderately effective in the case of North Macedonia given that the central bank rate changes affect mainly bank lending rate but not borrowing rate.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130117417","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}
The main purpose of this study is to examine the role of effective accounting system on import-export trade in Anbessa Shoe Share Company. This study is focused on Ethiopian import-export companies specifically, Anbessa Shoe Share Company and there are 208 target populations considered in the study who are accountants and some higher management personnel’s employing in Company. Randomly selected 51 accountants and some higher management personnel of the company are the source of the necessary data to the researcher through the administered questionnaires and interviews. Besides, the objective of this study is to assess the role of proper and effective accounting system employment on import-export trade in Anbessa Shoe Share Company. According to the study findings, an effective accounting system have an important role on import-export trades of the company. In addition, based on the non-parametric test made using Chi-Square distribution the accountant’s competency measured in terms of their profession, educational level and work experience was statistically not significance. The company should understand that the contributions of effective accounting system on its import-export trade is very vital for those activities performed in its trade and for the overall performances.
{"title":"The Role of Effective Accounting System on Import-Export Trade in Ethiopia: The Case of Anbessa Shoe Share Company","authors":"Fekadu Agmas Wassie","doi":"10.5296/IEB.V5I2.15142","DOIUrl":"https://doi.org/10.5296/IEB.V5I2.15142","url":null,"abstract":"The main purpose of this study is to examine the role of effective accounting system on import-export trade in Anbessa Shoe Share Company. This study is focused on Ethiopian import-export companies specifically, Anbessa Shoe Share Company and there are 208 target populations considered in the study who are accountants and some higher management personnel’s employing in Company. Randomly selected 51 accountants and some higher management personnel of the company are the source of the necessary data to the researcher through the administered questionnaires and interviews. Besides, the objective of this study is to assess the role of proper and effective accounting system employment on import-export trade in Anbessa Shoe Share Company. According to the study findings, an effective accounting system have an important role on import-export trades of the company. In addition, based on the non-parametric test made using Chi-Square distribution the accountant’s competency measured in terms of their profession, educational level and work experience was statistically not significance. The company should understand that the contributions of effective accounting system on its import-export trade is very vital for those activities performed in its trade and for the overall performances.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131441737","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}
Kashif Nadeem, Amir Riaz, Y. Iftikhar, Muhammad Bilal Ahmad, Waqas Shamshad
High-performance work system (HPWS) has been viewed as black-box over the last decade and there is a need for better understanding of the mechanism through which employee performance can be enhanced significantly. Based on the 371 samples collected from banking, insurance, airline, telecommunication, and hospitality, this study provides empirical evidence that HPWS positively influence the service performance of employees and PsyCap mediates the relationship of high-performance work system and employee service performance, OCB among service sector employees of Pakistan. The implications of this study conclude the findings in detail.
{"title":"Influence of High-Performance Work System on Employee Service Performance and OCB: The Mediating Role of PsyCap","authors":"Kashif Nadeem, Amir Riaz, Y. Iftikhar, Muhammad Bilal Ahmad, Waqas Shamshad","doi":"10.5296/IEB.V5I2.15009","DOIUrl":"https://doi.org/10.5296/IEB.V5I2.15009","url":null,"abstract":"High-performance work system (HPWS) has been viewed as black-box over the last decade and there is a need for better understanding of the mechanism through which employee performance can be enhanced significantly. Based on the 371 samples collected from banking, insurance, airline, telecommunication, and hospitality, this study provides empirical evidence that HPWS positively influence the service performance of employees and PsyCap mediates the relationship of high-performance work system and employee service performance, OCB among service sector employees of Pakistan. The implications of this study conclude the findings in detail.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132711684","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 examines the all possible dividend policy effect on commercial banks stock price listed at Pakistan stock exchange. The study covers 17 listed commercial banks for the time period 2014 to 2017. To analyze secondary data multiple regression analysis was applied using Stata with the model (MP) Market Price Per Share as the dependent variable and (EPS) Earning Per Share, (ROE) Return on Equity, (RR) Retention Ratio and (DY) Dividend Yield are independent variables. Descriptive statistics were applied to data to check mean, median, maximum and minimum value. The finding of the study shows that EPS shows a highly significant positive impact on the share MP and the other three independent variable return on equity, dividend yields, and retention ratio also show a significant but negative impact on the share MP. These results support the finding of previous studies done by another researcher in the past.
{"title":"Dividend Policy and Share Price volatility: Evidence From Pakistan Stock Exchange of Listed Commercial Banks","authors":"Laeeq Ahmad, Y. Iftikhar, Sarmad Ejaz, Waqas Baig, Kashif Nadeem, Rabia Shahid","doi":"10.5296/IEB.V5I1.14769","DOIUrl":"https://doi.org/10.5296/IEB.V5I1.14769","url":null,"abstract":"This study examines the all possible dividend policy effect on commercial banks stock price listed at Pakistan stock exchange. The study covers 17 listed commercial banks for the time period 2014 to 2017. To analyze secondary data multiple regression analysis was applied using Stata with the model (MP) Market Price Per Share as the dependent variable and (EPS) Earning Per Share, (ROE) Return on Equity, (RR) Retention Ratio and (DY) Dividend Yield are independent variables. Descriptive statistics were applied to data to check mean, median, maximum and minimum value. The finding of the study shows that EPS shows a highly significant positive impact on the share MP and the other three independent variable return on equity, dividend yields, and retention ratio also show a significant but negative impact on the share MP. These results support the finding of previous studies done by another researcher in the past.","PeriodicalId":385962,"journal":{"name":"Issues in Economics and Business","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122929534","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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