Pub Date : 2022-09-06DOI: 10.5709/ce.1897-9254.485
Nguyen Hong Thu, Dao Le Kieu Oanh, Do Thi Thanh Nhan
Recently, accessibility to credit has become a global issue and need to be examined frequently that needs the attention of regulators and researchers. Thus, this study examines the credit facilities (the price of credit and reliability of credit sources) on the accessibility of customer credit at commercial banks in Binh Duong Province, Vietnam, in the context of the COVID-19COVID-19 pandemic. The study also examines the moderating role of the contemporary economic environment among the nexus of the price of credit, reliability of credit sources and accessibility of the credit of customers at commercial banks in Binh Duong Province. The findings suggested that the price of credit has negative while reliability of credit sources have a positive impact on the accessibility of the credit of customer at commercial banks. The results also revealed that the contemporary economic environment significantly moderates among the nexus of the price of credit, reliability of credit sources and accessibility of the credit of customers at commercial banks.
{"title":"Impact of Credit Facilities and Contemporary Economic Environment on the Accessibility to Credit of Customers – Case Study In Binh Duong, Vietnam","authors":"Nguyen Hong Thu, Dao Le Kieu Oanh, Do Thi Thanh Nhan","doi":"10.5709/ce.1897-9254.485","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.485","url":null,"abstract":"Recently, accessibility to credit has become a global issue and need to be examined frequently that needs the attention of regulators and researchers. Thus, this study examines the credit facilities (the price of credit and reliability of credit sources) on the accessibility of customer credit at commercial banks in Binh Duong Province, Vietnam, in the context of the COVID-19COVID-19 pandemic. The study also examines the moderating role of the contemporary economic environment among the nexus of the price of credit, reliability of credit sources and accessibility of the credit of customers at commercial banks in Binh Duong Province. The findings suggested that the price of credit has negative while reliability of credit sources have a positive impact on the accessibility of the credit of customer at commercial banks. The results also revealed that the contemporary economic environment significantly moderates among the nexus of the price of credit, reliability of credit sources and accessibility of the credit of customers at commercial banks.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"73 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80035778","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}
Pub Date : 2022-09-06DOI: 10.5709/ce.1897-9254.481
H. Nguyen, Truc Thi Nha Phan, V. Ngo
The COVID-19 outbreak dealt a severe blow to the global economy, especially to the airline industry, due to worldwide lockdown measures implemented by the authorities. This paper aims to investigate the impact of the COVID-19 pandemic on the airline stock performance of seven markets in Asia and three other markets in Australia, Germany and the United States. The data is collected from 42 airline firms from 2019 to 2020. The research outcomes indicate that: (a) COVID-19 only temporarily impacts stock returns; (b) Market values plunge immediately after the first confirmed case, and it still shows no evidence of returning to the price levels before the outbreak; (c) COVID-19 has a significant impact on stock volatility; (d) Most stocks do not illustrate any higher exposure to systematic risks.
{"title":"The Impact of the COVID-19 Pandemic on the Performance and Risk Profile of Airline Stocks","authors":"H. Nguyen, Truc Thi Nha Phan, V. Ngo","doi":"10.5709/ce.1897-9254.481","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.481","url":null,"abstract":"The COVID-19 outbreak dealt a severe blow to the global economy, especially to the airline industry, due to worldwide lockdown measures implemented by the authorities. This paper aims to investigate the impact of the COVID-19 pandemic on the airline stock performance of seven markets in Asia and three other markets in Australia, Germany and the United States. The data is collected from 42 airline firms from 2019 to 2020. The research outcomes indicate that: (a) COVID-19 only temporarily impacts stock returns; (b) Market values plunge immediately after the first confirmed case, and it still shows no evidence of returning to the price levels before the outbreak; (c) COVID-19 has a significant impact on stock volatility; (d) Most stocks do not illustrate any higher exposure to systematic risks.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"83 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90757584","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}
Pub Date : 2022-09-06DOI: 10.5709/ce.1897-9254.486
H. Vu, Hieu Tran Chi
In the present environment, innovation is now treated as a prime source to earn a competitive edge in the market. Moreover, from a theoretical perspective, the emerging trend towards public relations can also be seen in the prior literature, which adds value to the firm’s financial performance. Along with these practices, recent statistics in the literature showed concern towards the complimentary issue; investment strategies and their impact on firms’ financial performance. Therefore, seeking to extend research by exploring these three constructs altogether, the study attempts to scrutinize the impact of public relations, innovation practices, and investment strategies on SMEs' financial performance in the context of Vietnam. Authors employ both quantitative approaches with primary data to explore subjects and gain insightful information. The primary data has been gathered from the survey with business owners, managers, and officers in 202 SMEs. The results indicate that public relations, innovation, and investment practices have a positive association with SME.s financial performance. The theme of results concludes that public relations are expected in the future virtue to search for the appropriate practices adapting with the digital transformation of media and communication, wherein SMEs ought to have digital literacy and comprehensive knowledge of public relations practices. This also study contributes to the existing literature to both theoretical and managerial approaches for better awareness of public relations, innovation, and investment practice in the research industry setting.
{"title":"The Factors of Financial Performance of SMEs (Case of Vietnam)","authors":"H. Vu, Hieu Tran Chi","doi":"10.5709/ce.1897-9254.486","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.486","url":null,"abstract":"In the present environment, innovation is now treated as a prime source to earn a competitive edge in the market. Moreover, from a theoretical perspective, the emerging trend towards public relations can also be seen in the prior literature, which adds value to the firm’s financial performance. Along with these practices, recent statistics in the literature showed concern towards the complimentary issue; investment strategies and their impact on firms’ financial performance. Therefore, seeking to extend research by exploring these three constructs altogether, the study attempts to scrutinize the impact of public relations, innovation practices, and investment strategies on SMEs' financial performance in the context of Vietnam. Authors employ both quantitative approaches with primary data to explore subjects and gain insightful information. The primary data has been gathered from the survey with business owners, managers, and officers in 202 SMEs. The results indicate that public relations, innovation, and investment practices have a positive association with SME.s financial performance. The theme of results concludes that public relations are expected in the future virtue to search for the appropriate practices adapting with the digital transformation of media and communication, wherein SMEs ought to have digital literacy and comprehensive knowledge of public relations practices. This also study contributes to the existing literature to both theoretical and managerial approaches for better awareness of public relations, innovation, and investment practice in the research industry setting.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"10 2 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83657507","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}
Pub Date : 2022-09-06DOI: 10.5709/ce.1897-9254.484
H. Abdullah, Shehu El-Rasheed, Hafizah Hammad Ahmad Khan
The relationship between exchange rate and money demand has long been debated among macroeconomists due to its impact on the stability of money demand and monetary policy. Following the significant depreciation in the currency exchange associated with the political instability in Malaysia in recent years, examining the relationship between exchange rate and money demand is crucial to ensure the monetary policy remains prudent. This study examined the asymmetric impact of exchange rate changes on money demand in Malaysia using both linear and nonlinear ARDL approaches. The findings reveal that the money demand responds asymmetrically to exchange rate changes both in the short and long run, whereby the response to a negative shock (local currency depreciation) outweighs the positive shock (local currency appreciation). The result also suggests that the substitution effects dominate the exchange rate and money demand relationship. Consequently, with the economic and political instability continuing, the currency exchange is expected to depreciate further, contributed by the strong substitution effects. This will greatly affect the stability of money demand and the monetary policy and thereby call upon a policy intervention to strengthen the currency exchange and sustain the long-run economic performance.
{"title":"Asymmetric Impact of Exchange Rate Changes on Money Demand in Malaysia","authors":"H. Abdullah, Shehu El-Rasheed, Hafizah Hammad Ahmad Khan","doi":"10.5709/ce.1897-9254.484","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.484","url":null,"abstract":"The relationship between exchange rate and money demand has long been debated among macroeconomists due to its impact on the stability of money demand and monetary policy. Following the significant depreciation in the currency exchange associated with the political instability in Malaysia in recent years, examining the relationship between exchange rate and money demand is crucial to ensure the monetary policy remains prudent. This study examined the asymmetric impact of exchange rate changes on money demand in Malaysia using both linear and nonlinear ARDL approaches. The findings reveal that the money demand responds asymmetrically to exchange rate changes both in the short and long run, whereby the response to a negative shock (local currency depreciation) outweighs the positive shock (local currency appreciation). The result also suggests that the substitution effects dominate the exchange rate and money demand relationship. Consequently, with the economic and political instability continuing, the currency exchange is expected to depreciate further, contributed by the strong substitution effects. This will greatly affect the stability of money demand and the monetary policy and thereby call upon a policy intervention to strengthen the currency exchange and sustain the long-run economic performance.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"69 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78702590","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.475
Salem A. Al-Jundi, Ahmed Shuhaiber, Shaban S. Al-Emara
Although there is valuable literature on areas of corruption, such as political and corporate corruption, a limited number of papers have examined the determinants of administrative corruption. To the best of our knowledge, the multivariate impacts of political instability and institutional weakness on administrative corruption, and the interplay between these constructs, have not been examined using the partial least squares structural equation modeling method. The current study attempts to fill this gap by proposing and testing a model. We test a sample of 677 responses that reflect the perspective of the general public in Basra, Iraq. Findings reveal that the political instability and institutional weakness of public organizations positively impact administrative corruption, while political instability leads to institutional weakness. Institutional weakness mediates the effect of political instability on administrative corruption. Therefore, political instability is a crucial factor causing corruption since it has both direct and indirect effects on administrative corruption. The theoretical contributions, managerial implications, limitations, and recommendations for further research are provided.
{"title":"The Effect of Political Instability and Institutional Weakness on Administrative Corruption","authors":"Salem A. Al-Jundi, Ahmed Shuhaiber, Shaban S. Al-Emara","doi":"10.5709/ce.1897-9254.475","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.475","url":null,"abstract":"Although there is valuable literature on areas of corruption, such as political and corporate corruption, a limited number of papers have examined the determinants of administrative corruption. To the best of our knowledge, the multivariate impacts of political instability and institutional weakness on administrative corruption, and the interplay between these constructs, have not been examined using the partial least squares structural equation modeling method. The current study attempts to fill this gap by proposing and testing a model. We test a sample of 677 responses that reflect the perspective of the general public in Basra, Iraq. Findings reveal that the political instability and institutional weakness of public organizations positively impact administrative corruption, while political instability leads to institutional weakness. Institutional weakness mediates the effect of political instability on administrative corruption. Therefore, political instability is a crucial factor causing corruption since it has both direct and indirect effects on administrative corruption. The theoretical contributions, managerial implications, limitations, and recommendations for further research are provided.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"205 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72973262","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.474
D. Żebrowska-Suchodolska, A. Karpio
The market timing is one of the active methods used by portfolio managers to do their investments more effective. It allows to separate management skills on a micro and macro scale. The market timing applies to the appropriate selection of assets for the portfolio and the right moment to change its structure. The aim of the presented research was to check whether the managers of balanced open-end mutual funds operating on the Polish market apply market timing skills. Nine balanced funds have been accepted for the research, which have existed since at least 2003 year. The research period covered the years 2003-2019. WIBOR 1M was used as the risk-free rate, and the market factors were the main WSE indexes. The research was first conducted based on basic market timing research models, i.e. the Henriksson-Merton and Treynor-Mazuy. Then, these models were expanded to include factors related to the bond market. The Henriksson-Merton and Treynor-Mazuy models and their extensions with additional factors were compared among themselves. Studies show that models with additional factors have proven to be more appropriate for balanced open-end mutual funds. It has occurred that regardless of the model used, market timing skills were similar. In most cases the fund managers did not achieve higher results than the results of the relevant benchmark. Managers tried to follow the trend rather than anticipate it. In most cases, there was also no ability to select assets or market-timing. Most of the parameters standing by these variables were not statistically significant.
{"title":"Study of the Skills of Balanced Fund Managers in Poland","authors":"D. Żebrowska-Suchodolska, A. Karpio","doi":"10.5709/ce.1897-9254.474","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.474","url":null,"abstract":"The market timing is one of the active methods used by portfolio managers to do their investments more effective. It allows to separate management skills on a micro and macro scale. The market timing applies to the appropriate selection of assets for the portfolio and the right moment to change its structure. The aim of the presented research was to check whether the managers of balanced open-end mutual funds operating on the Polish market apply market timing skills. Nine balanced funds have been accepted for the research, which have existed since at least 2003 year. The research period covered the years 2003-2019. WIBOR 1M was used as the risk-free rate, and the market factors were the main WSE indexes. The research was first conducted based on basic market timing research models, i.e. the Henriksson-Merton and Treynor-Mazuy. Then, these models were expanded to include factors related to the bond market. The Henriksson-Merton and Treynor-Mazuy models and their extensions with additional factors were compared among themselves. Studies show that models with additional factors have proven to be more appropriate for balanced open-end mutual funds. It has occurred that regardless of the model used, market timing skills were similar. In most cases the fund managers did not achieve higher results than the results of the relevant benchmark. Managers tried to follow the trend rather than anticipate it. In most cases, there was also no ability to select assets or market-timing. Most of the parameters standing by these variables were not statistically significant.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86620309","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.478
Yusri Huzaimi Mat Jusoh, Siti Suraya Abd Razak, W. Noor, Ataina Hudayati, A. Puspaningsih, F. Nadzri
There was vast research on the effectiveness of audit committees as part of the mechanisms in safeguarding shareholders’ interest and also ensuring effective financial reporting by companies. However, studies on the efficacy of audit committees as governance tools in a niche area relating to social enterprises namely cooperative societies in Malaysia is still scarce. Hence, this study intends to investigate the association between audit committee attributes namely audit committee expertise and experience, audit committee meeting frequency and audit committee size to the timeliness reporting compliance among Malaysian cooperative societies. Using qualitative research methods, 158 usable questionnaires from 59 cooperative societies were successfully gathered and analysed using SmartPLS 3 Version 3.2.8. The results obtained provided support to the notion that there is a significant positive relationship between the frequency of meetings on the timeliness reporting compliance and a significant positive relationship between audit committee size on the timeliness reporting compliance. However, the notion expecting a significant positive relationship between the expertise of the audit committee on the timeliness reporting compliance proved to be insignificant. Conclusively, the study provides theoretical and practical support to both literature and practitioners on the importance of having optimum audit committee size and high frequency of meeting in ensuring the timeliness compliance of financial reporting of cooperative societies.
对审计委员会作为维护股东利益和确保公司有效财务报告机制的一部分的有效性进行了大量研究。然而，关于审计委员会作为治理工具在马来西亚与社会企业有关的利基领域即合作社的有效性的研究仍然很少。因此，本研究拟探讨审计委员会属性，即审计委员会专业知识和经验、审计委员会会议频率和审计委员会规模与马来西亚合作社报告合规性的及时性之间的关系。采用定性研究方法，成功收集了59个合作社的158份可用问卷，并使用SmartPLS 3 Version 3.2.8进行了分析。所获得的结果支持这样一种观点，即会议频率与报告合规性的及时性之间存在显著的正相关关系，审计委员会规模与报告合规性的及时性之间存在显著的正相关关系。然而，期望审计委员会的专门知识与报告遵守情况的及时性之间存在显著的正相关关系的概念被证明是不重要的。最后，该研究为文献和从业者提供了理论和实践支持，证明了最佳审计委员会规模和高会议频率对确保合作社财务报告的及时性和合规性的重要性。
{"title":"Audit Committee Characteristics and Timeliness of Financial Reporting: Social Enterprises Evidence","authors":"Yusri Huzaimi Mat Jusoh, Siti Suraya Abd Razak, W. Noor, Ataina Hudayati, A. Puspaningsih, F. Nadzri","doi":"10.5709/ce.1897-9254.478","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.478","url":null,"abstract":"There was vast research on the effectiveness of audit committees as part of the mechanisms in safeguarding shareholders’ interest and also ensuring effective financial reporting by companies. However, studies on the efficacy of audit committees as governance tools in a niche area relating to social enterprises namely cooperative societies in Malaysia is still scarce. Hence, this study intends to investigate the association between audit committee attributes namely audit committee expertise and experience, audit committee meeting frequency and audit committee size to the timeliness reporting compliance among Malaysian cooperative societies. Using qualitative research methods, 158 usable questionnaires from 59 cooperative societies were successfully gathered and analysed using SmartPLS 3 Version 3.2.8. The results obtained provided support to the notion that there is a significant positive relationship between the frequency of meetings on the timeliness reporting compliance and a significant positive relationship between audit committee size on the timeliness reporting compliance. However, the notion expecting a significant positive relationship between the expertise of the audit committee on the timeliness reporting compliance proved to be insignificant. Conclusively, the study provides theoretical and practical support to both literature and practitioners on the importance of having optimum audit committee size and high frequency of meeting in ensuring the timeliness compliance of financial reporting of cooperative societies.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"48 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79902245","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.477
N. H. Tien, N. Ngoc, T. Trang, L. Duc, N. Mai
This paper discusses sustainable development issues in the higher education sector from the value chain perspective. An adapted value chain is proposed for developing countries that would reflect the specific context of the higher education sector of Poland and Vietnam. Secondary data were collected from two universities in Poland and Vietnam to do a comparative analysis of how sustainability is integrated into the educational value chain. Our analysis shows that the two cases of Poland and Vietnam are quite different in most of the supporting and primary activities when integrating sustainability issues in the educational value chain, except for training. Then recommendations of value co-creation activities in the value chain for higher education institutions in both countries are raised towards achieving sustainable development.
{"title":"Sustainable Development of Higher Education Institutions in Developing Countries: Comparative Analysis of Poland and Vietnam","authors":"N. H. Tien, N. Ngoc, T. Trang, L. Duc, N. Mai","doi":"10.5709/ce.1897-9254.477","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.477","url":null,"abstract":"This paper discusses sustainable development issues in the higher education sector from the value chain perspective. An adapted value chain is proposed for developing countries that would reflect the specific context of the higher education sector of Poland and Vietnam. Secondary data were collected from two universities in Poland and Vietnam to do a comparative analysis of how sustainability is integrated into the educational value chain. Our analysis shows that the two cases of Poland and Vietnam are quite different in most of the supporting and primary activities when integrating sustainability issues in the educational value chain, except for training. Then recommendations of value co-creation activities in the value chain for higher education institutions in both countries are raised towards achieving sustainable development.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"47 3 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80007086","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.480
T. Nguyen, Quang-Thanh Ngo
Recently, sustainable economic development has become a global requirement and also has gained the attention of recent studies and policymakers nowadays. Thus, the present study has examined the impact of corporate social responsibility (CSR) along with renewable energy consumption, energy usage and import and carbon emission on the sustainable economic development of the Association of South-East Asian Nations (ASEAN). This study has adopted the quantitative method of data collection and used secondary data collection sources. The data has been extracted from the world development indicators (WDI) and reports published on the sustainability of the countries. This study has gathered the post-financial crisis data from 2011 to 2020. This study has executed the robust standard error and fixed effect model (FEM) to examine the relationships among variables. The results revealed that CSR, renewable energy consumption, and energy usage and import have a positive and significant associations with the sustainable economic development of the ASEAN countries. The outcomes also exposed that carbon emission has a negative but significant nexus with the sustainable economic development of the ASEAN countries. These outcomes provide the guidelines to the regulation-making authorities while formulating policies related to sustainable economic development in accordance with CSR and energy policies.
{"title":"The Impact of Corporate Social Responsibility, Energy Consumption, Energy Import and Usages and Carbon Emission on Sustainable Economic Development: Evidence from ASEAN countries","authors":"T. Nguyen, Quang-Thanh Ngo","doi":"10.5709/ce.1897-9254.480","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.480","url":null,"abstract":"Recently, sustainable economic development has become a global requirement and also has gained the attention of recent studies and policymakers nowadays. Thus, the present study has examined the impact of corporate social responsibility (CSR) along with renewable energy consumption, energy usage and import and carbon emission on the sustainable economic development of the Association of South-East Asian Nations (ASEAN). This study has adopted the quantitative method of data collection and used secondary data collection sources. The data has been extracted from the world development indicators (WDI) and reports published on the sustainability of the countries. This study has gathered the post-financial crisis data from 2011 to 2020. This study has executed the robust standard error and fixed effect model (FEM) to examine the relationships among variables. The results revealed that CSR, renewable energy consumption, and energy usage and import have a positive and significant associations with the sustainable economic development of the ASEAN countries. The outcomes also exposed that carbon emission has a negative but significant nexus with the sustainable economic development of the ASEAN countries. These outcomes provide the guidelines to the regulation-making authorities while formulating policies related to sustainable economic development in accordance with CSR and energy policies.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74433291","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}
Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.476
M. Jucá, A. Fishlow
Social capital and value creation are concepts that have been associated in financial literature for a long time and still remain controversial. Social capital refers to a firm´s attributes, such as trust, civic attitudes, and relationship networks that enable greater economic development. It is also related to corporate social responsibility, corresponding to a voluntary interest by firms in social and environmental issues with effects upon others. The last global financial crisis - which began in the United States in 2007 - is an exogenous event that allows a study of the impact of a higher level of corporate credibility. In other words, we may verify whether attributes such as trust - measured by social capital - create value. Thus, this study aims at verifying if there was a positive relationship between social capital and corporate value, during the last global financial crisis. To this end, a difference-in-difference test was applied to a sample of 418 Latin American firms. The results confirm the hypothesis that in a financial crisis, firms with more social capital have their value less affected. This fact points to practical implications both for investors and capital market regulators.
{"title":"The Impact of Social Capital on Firm Value","authors":"M. Jucá, A. Fishlow","doi":"10.5709/ce.1897-9254.476","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.476","url":null,"abstract":"Social capital and value creation are concepts that have been associated in financial literature for a long time and still remain controversial. Social capital refers to a firm´s attributes, such as trust, civic attitudes, and relationship networks that enable greater economic development. It is also related to corporate social responsibility, corresponding to a voluntary interest by firms in social and environmental issues with effects upon others. The last global financial crisis - which began in the United States in 2007 - is an exogenous event that allows a study of the impact of a higher level of corporate credibility. In other words, we may verify whether attributes such as trust - measured by social capital - create value. Thus, this study aims at verifying if there was a positive relationship between social capital and corporate value, during the last global financial crisis. To this end, a difference-in-difference test was applied to a sample of 418 Latin American firms. The results confirm the hypothesis that in a financial crisis, firms with more social capital have their value less affected. This fact points to practical implications both for investors and capital market regulators.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87672623","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：