Purpose: The aim of the study was to investigate the relationship between dividend policy and stock price volatility in the tech industry in France. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The relationship between dividend policy and stock price volatility in France's tech industry reveals that high dividend payouts may initially attract investors seeking income but can also increase stock price volatility. This volatility often arises from market reactions to dividend announcements and shifts in investor sentiment about company financial health and growth prospects. Effective management of dividend policies is crucial for tech firms to balance investor expectations with strategic growth initiatives while mitigating market risks. Unique Contribution to Theory, Practice and Policy: Agency theory, signaling theory & market timing theory may be used to anchor future studies on the relationship between dividend policy and stock price volatility in the tech industry in France. Developing dividend policies that balance the need for capital reinvestment in innovation with shareholder expectations for income stability. Tailoring regulatory frameworks to accommodate the unique dynamics of the tech industry, including its rapid growth and innovation cycles.
{"title":"The Relationship between Dividend Policy and Stock Price Volatility in the Tech Industry in France","authors":"Michel Martin","doi":"10.47604/ijfa.2786","DOIUrl":"https://doi.org/10.47604/ijfa.2786","url":null,"abstract":"Purpose: The aim of the study was to investigate the relationship between dividend policy and stock price volatility in the tech industry in France. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The relationship between dividend policy and stock price volatility in France's tech industry reveals that high dividend payouts may initially attract investors seeking income but can also increase stock price volatility. This volatility often arises from market reactions to dividend announcements and shifts in investor sentiment about company financial health and growth prospects. Effective management of dividend policies is crucial for tech firms to balance investor expectations with strategic growth initiatives while mitigating market risks. \u0000Unique Contribution to Theory, Practice and Policy: Agency theory, signaling theory & market timing theory may be used to anchor future studies on the relationship between dividend policy and stock price volatility in the tech industry in France. Developing dividend policies that balance the need for capital reinvestment in innovation with shareholder expectations for income stability. Tailoring regulatory frameworks to accommodate the unique dynamics of the tech industry, including its rapid growth and innovation cycles.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":" 52","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141825100","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}
Purpose: The aim of the study was to investigate the influence of financial technology (Fintech) on banking efficiency in developing economies in Ethiopia. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Financial technology (Fintech) has significantly enhanced banking efficiency in Ethiopia by improving accessibility through mobile banking and digital payments, especially in rural areas. This shift has reduced operational costs, streamlined transactions, and provided faster, more convenient services. Fintech innovations have also enriched customer experience with personalized banking options and real-time transaction monitoring, boosting overall satisfaction and loyalty. However, challenges like cybersecurity and regulatory frameworks require ongoing attention to sustain and expand Fintech's impact on banking efficiency and financial inclusion nationwide. Unique Contribution to Theory, Practice and Policy: Diffusion of innovation theory, resource-based view (RBV) theory & technology acceptance model (TAM) may be used to anchor future studies on the influence of financial technology (Fintech) on banking efficiency in developing economies in Ethiopia. Encourage collaborations between financial institutions, FinTech startups, and regulatory bodies to pilot and scale innovative solutions tailored to local needs. Establish flexible regulatory frameworks that foster innovation while safeguarding consumer rights and financial stability.
{"title":"The Influence of Financial Technology (Fintech) on Banking Efficiency in Developing Economies in Ethiopia","authors":"Girma Assefa","doi":"10.47604/ijfa.2785","DOIUrl":"https://doi.org/10.47604/ijfa.2785","url":null,"abstract":"Purpose: The aim of the study was to investigate the influence of financial technology (Fintech) on banking efficiency in developing economies in Ethiopia. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: Financial technology (Fintech) has significantly enhanced banking efficiency in Ethiopia by improving accessibility through mobile banking and digital payments, especially in rural areas. This shift has reduced operational costs, streamlined transactions, and provided faster, more convenient services. Fintech innovations have also enriched customer experience with personalized banking options and real-time transaction monitoring, boosting overall satisfaction and loyalty. However, challenges like cybersecurity and regulatory frameworks require ongoing attention to sustain and expand Fintech's impact on banking efficiency and financial inclusion nationwide. \u0000Unique Contribution to Theory, Practice and Policy: Diffusion of innovation theory, resource-based view (RBV) theory & technology acceptance model (TAM) may be used to anchor future studies on the influence of financial technology (Fintech) on banking efficiency in developing economies in Ethiopia. Encourage collaborations between financial institutions, FinTech startups, and regulatory bodies to pilot and scale innovative solutions tailored to local needs. Establish flexible regulatory frameworks that foster innovation while safeguarding consumer rights and financial stability.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":" 18","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141824432","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}
Purpose: This study investigates the impact of foreign portfolio investment (FPI) on economic growth in East Africa using panel data for Kenya, Uganda, Tanzania, Rwanda, and Burundi from 1974-2022. Methodology: The analysis employs a panel vector error correction model to estimate the short and long-run effects of FPI on growth. The study relied on secondary data sources for the period 1974-2022 with an annual frequency, implying 49 years of data. Data on foreign investment variables and macroeconomic control variables were sourced from the World Bank database, National Statistical Bureaus, Central Banks, and Stock Exchanges of the respective countries. Findings: The results indicate that FPI significantly positively impacts economic growth in East Africa. A 1% increase in FPI inflows as a share of Gross Domestic Product (GDP) boosts annual real GDP growth by approximately 10.7% in the long run. The findings are robust to the inclusion of moderating variables like trade openness. Unique Contribution to Theory, Practice and Policy: The empirical analysis aimed to validate the Modern Portfolio Theory by examining if greater foreign portfolio investment flows contributed positively to economic growth in the East African region. The results lend support to policy efforts in East Africa to attract greater FPI through capital market reforms, regional integration, and macroeconomic stability. However, further developing financial markets and enhancing absorptive capacity is essential to leverage FPI more effectively for sustainable growth financing.
{"title":"Moderating the Role of Trade Openness on Foreign Portfolio Investment and Economic Growth among East Africa Community Countries","authors":"Victoria Litali, Gordon Opuodho, O. Fatoki","doi":"10.47604/ijfa.2639","DOIUrl":"https://doi.org/10.47604/ijfa.2639","url":null,"abstract":"Purpose: This study investigates the impact of foreign portfolio investment (FPI) on economic growth in East Africa using panel data for Kenya, Uganda, Tanzania, Rwanda, and Burundi from 1974-2022. \u0000Methodology: The analysis employs a panel vector error correction model to estimate the short and long-run effects of FPI on growth. The study relied on secondary data sources for the period 1974-2022 with an annual frequency, implying 49 years of data. Data on foreign investment variables and macroeconomic control variables were sourced from the World Bank database, National Statistical Bureaus, Central Banks, and Stock Exchanges of the respective countries. \u0000Findings: The results indicate that FPI significantly positively impacts economic growth in East Africa. A 1% increase in FPI inflows as a share of Gross Domestic Product (GDP) boosts annual real GDP growth by approximately 10.7% in the long run. The findings are robust to the inclusion of moderating variables like trade openness. \u0000Unique Contribution to Theory, Practice and Policy: The empirical analysis aimed to validate the Modern Portfolio Theory by examining if greater foreign portfolio investment flows contributed positively to economic growth in the East African region. The results lend support to policy efforts in East Africa to attract greater FPI through capital market reforms, regional integration, and macroeconomic stability. However, further developing financial markets and enhancing absorptive capacity is essential to leverage FPI more effectively for sustainable growth financing.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"75 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141268263","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}
Willis Mlambo, Gladys Mufanebadza, Masline Zinyama, Rodney Mudyahoto, Gift Manhimanzi
The study is set out to investigate the impact of responsibility accounting on cost efficiency at Reformed Church in Zimbabwe (R.C.Z) in Masvingo Province. The study was largely prompted by the fact that despite having been functional, the Organisation was still facing a lot of challenges characterised by abuse of resources such as misappropriation of funds, high labour turnover and low profitability as a result of high running costs. The study used Pragmatic approach and paradigm in its methodology. The target population for the study comprised of top, middle and lower-level management and a sample of 45 employees from the four departments in the province was used. Stratified random sampling (probability sampling) was used. It is observed that some departments were operating without a Responsibility accounting policy in place and also there was no communication of Responsibility accounting role to various employees. In addition it is observed that inadequate ‘training programmes of employees, failure to consider lower-level management in budgetary formation and Inter departmental conflicts are major challenges bedevilling effective implementation of responsibility accounting. The study concludes that responsibility accounting plays a critical role in enhancing cost efficiency within the organisation thus responsibility accounting has got a positive influence on cost efficiency. The study recommends that a uniform responsibility accounting policy be formulated across all departments’ effective supervision and control over each cost centre be implemented and adequate training programmes to employees be provided
{"title":"The impact of Responsibility Accounting on Cost Efficiency. A Case of Reformed Church in Zimbabwe Period 2009-2014","authors":"Willis Mlambo, Gladys Mufanebadza, Masline Zinyama, Rodney Mudyahoto, Gift Manhimanzi","doi":"10.37284/ijfa.3.1.1879","DOIUrl":"https://doi.org/10.37284/ijfa.3.1.1879","url":null,"abstract":"The study is set out to investigate the impact of responsibility accounting on cost efficiency at Reformed Church in Zimbabwe (R.C.Z) in Masvingo Province. The study was largely prompted by the fact that despite having been functional, the Organisation was still facing a lot of challenges characterised by abuse of resources such as misappropriation of funds, high labour turnover and low profitability as a result of high running costs. The study used Pragmatic approach and paradigm in its methodology. The target population for the study comprised of top, middle and lower-level management and a sample of 45 employees from the four departments in the province was used. Stratified random sampling (probability sampling) was used. It is observed that some departments were operating without a Responsibility accounting policy in place and also there was no communication of Responsibility accounting role to various employees. In addition it is observed that inadequate ‘training programmes of employees, failure to consider lower-level management in budgetary formation and Inter departmental conflicts are major challenges bedevilling effective implementation of responsibility accounting. The study concludes that responsibility accounting plays a critical role in enhancing cost efficiency within the organisation thus responsibility accounting has got a positive influence on cost efficiency. The study recommends that a uniform responsibility accounting policy be formulated across all departments’ effective supervision and control over each cost centre be implemented and adequate training programmes to employees be provided","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"3 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140675255","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}
Purpose: Businesses that rely on e-commerce for growth frequently find that their ability to obtain sufficient capital is critical to their success. Funding from venture capital firms is essential in this context. Due to insufficient capital, e-commerce-driven businesses in Kenya have continuously underperformed financially. Numerous of these businesses, such as Rupu, OLX Kenya, and ePay, encountered financial difficulties and eventually lost the ability to continue operating. This study's main objectives were to evaluate the impact of capital management support, financing options, and cost of capital on the financial performance of Kenyan e-commerce businesses. Additionally, the study sought to fully evaluate the moderating impact of regulatory structure on venture capital funding and the financial performance of Kenyan e-commerce-driven firms. The trade-off, stakeholder, financial liberalization, and agency theories all lend credence to this research. The research philosophy of positivism, which emphasizes the use of empirical data to evaluate theories and hypotheses, was applied to perform this study. Methodology: The study examined a population of 45 e-commerce-driven businesses that obtained venture capital financing between 2017 and 2022 using a descriptive cross-sectional survey research approach. A stratified simple random sampling design technique was employed to choose 45 e-commerce-driven businesses as a sample. Surveys were distributed to collect primary data. Important stakeholders, including investors, executives, and founders, were among the participants in the study. Descriptive statistics were employed to summarize the data, such as measures of central tendency (particularly the mean), variability (expressed by the standard deviation), and frequency distributions. Regression analysis, an inferential statistic, was also employed in the study to investigate the relationship between venture capital funding and financial success. The gathered data were coded before entering into the Statistical Package for Social Science (SPSS) program to make the analysis process easier. The analysis's final results were provided as tables. Findings: The findings showed that the cost of capital, financing strategies, and capital management support significantly impact Kenyan e-commerce enterprises' financial performance. The aggregate score of 3.73 in cost of capital indicated consensus among participants on the impact of venture capital on e-commerce companies' financial performance. Participants perceived a significant correlation, with a standard deviation of 1.15 reflecting varying opinions. Most agree that lower venture capital costs lead to better financial success, influencing organizations' financial decisions significantly. The study concluded that venture capital funding has a considerable impact on the financial performance of e-commerce-driven enterprises in Kenya. The report advised management to thoroughly understand the total cost o
{"title":"Venture Capital and Financial Performance of E-Commerce-Driven Firms in Kenya","authors":"Muinde Mwendwa, James Gatauwa, John Mungai","doi":"10.47604/ijfa.2495","DOIUrl":"https://doi.org/10.47604/ijfa.2495","url":null,"abstract":"Purpose: Businesses that rely on e-commerce for growth frequently find that their ability to obtain sufficient capital is critical to their success. Funding from venture capital firms is essential in this context. Due to insufficient capital, e-commerce-driven businesses in Kenya have continuously underperformed financially. Numerous of these businesses, such as Rupu, OLX Kenya, and ePay, encountered financial difficulties and eventually lost the ability to continue operating. This study's main objectives were to evaluate the impact of capital management support, financing options, and cost of capital on the financial performance of Kenyan e-commerce businesses. Additionally, the study sought to fully evaluate the moderating impact of regulatory structure on venture capital funding and the financial performance of Kenyan e-commerce-driven firms. The trade-off, stakeholder, financial liberalization, and agency theories all lend credence to this research. The research philosophy of positivism, which emphasizes the use of empirical data to evaluate theories and hypotheses, was applied to perform this study. \u0000Methodology: The study examined a population of 45 e-commerce-driven businesses that obtained venture capital financing between 2017 and 2022 using a descriptive cross-sectional survey research approach. A stratified simple random sampling design technique was employed to choose 45 e-commerce-driven businesses as a sample. Surveys were distributed to collect primary data. Important stakeholders, including investors, executives, and founders, were among the participants in the study. Descriptive statistics were employed to summarize the data, such as measures of central tendency (particularly the mean), variability (expressed by the standard deviation), and frequency distributions. Regression analysis, an inferential statistic, was also employed in the study to investigate the relationship between venture capital funding and financial success. The gathered data were coded before entering into the Statistical Package for Social Science (SPSS) program to make the analysis process easier. The analysis's final results were provided as tables. \u0000Findings: The findings showed that the cost of capital, financing strategies, and capital management support significantly impact Kenyan e-commerce enterprises' financial performance. The aggregate score of 3.73 in cost of capital indicated consensus among participants on the impact of venture capital on e-commerce companies' financial performance. Participants perceived a significant correlation, with a standard deviation of 1.15 reflecting varying opinions. Most agree that lower venture capital costs lead to better financial success, influencing organizations' financial decisions significantly. The study concluded that venture capital funding has a considerable impact on the financial performance of e-commerce-driven enterprises in Kenya. The report advised management to thoroughly understand the total cost o","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"37 s1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140700519","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}
Purpose: The impact of insurance market activity within financial development is gaining more attention in academia, as the sector experiences growth within emerging markets. The paper aims to understand which macro-economic and social variables impact the growth or decline of the non-life insurance sector broadly across European countries with a view to provide recommendations to drive increased penetration across the region. Methodology: Using Fixed Effects Panel Data Regression and annual data from 1990 to 2021 on 10 countries, the study examines the explanatory factors of non-life insurance demand in European countries (Australia, France, Austria, Italy, Canada, Luxemburg, Denmark, Norway, Finland and Portugal). Findings: The study found that GDP, and urbanization and education rates have a significant negative impact on non-life insurance penetration and density; urbanization, religion, education level and rule of law can explain positively variation in non-life insurance density and penetration across countries. Countries with higher urbanization levels, higher education level, Christian or Buddhist beliefs and more effective rule of law spend more on non- life insurance than other countries. The control of corruption and government effectiveness explain negatively variance in non-life insurance. Unique Contribution to Theory, Practice and Policy: Notably, governments can develop the non-life insurance sector through policies that support urbanization.Similarly, ensuring an environment that promotes economic freedom (such as low tariff, high personal choice, low government spending and high security of property rights) could be an effective way of promoting non-life insurance demand. In contrast, policies that help to reduce the rate of urbanization may yield a double dividend: less population and congestion in cities and better opportunities for the development of non-life insurance markets. Also, countries with high level of education, can develop the development of non- life insurance demand. Among many socio-economic factors such as income, urbanization and education level, our analysis suggests that cultural dimensions such as beliefs and rule of law play a role.
{"title":"The Impact of Culture on the Demand for Non-life Insurance Penetration in Developing Countries: Panel Data Analysis","authors":"Ezdini Sihem","doi":"10.47604/ijfa.2494","DOIUrl":"https://doi.org/10.47604/ijfa.2494","url":null,"abstract":"Purpose: The impact of insurance market activity within financial development is gaining more attention in academia, as the sector experiences growth within emerging markets. The paper aims to understand which macro-economic and social variables impact the growth or decline of the non-life insurance sector broadly across European countries with a view to provide recommendations to drive increased penetration across the region. \u0000Methodology: Using Fixed Effects Panel Data Regression and annual data from 1990 to 2021 on 10 countries, the study examines the explanatory factors of non-life insurance demand in European countries (Australia, France, Austria, Italy, Canada, Luxemburg, Denmark, Norway, Finland and Portugal). \u0000Findings: The study found that GDP, and urbanization and education rates have a significant negative impact on non-life insurance penetration and density; urbanization, religion, education level and rule of law can explain positively variation in non-life insurance density and penetration across countries. Countries with higher urbanization levels, higher education level, Christian or Buddhist beliefs and more effective rule of law spend more on non- life insurance than other countries. The control of corruption and government effectiveness explain negatively variance in non-life insurance. \u0000Unique Contribution to Theory, Practice and Policy: Notably, governments can develop the non-life insurance sector through policies that support urbanization.Similarly, ensuring an environment that promotes economic freedom (such as low tariff, high personal choice, low government spending and high security of property rights) could be an effective way of promoting non-life insurance demand. In contrast, policies that help to reduce the rate of urbanization may yield a double dividend: less population and congestion in cities and better opportunities for the development of non-life insurance markets. Also, countries with high level of education, can develop the development of non- life insurance demand. Among many socio-economic factors such as income, urbanization and education level, our analysis suggests that cultural dimensions such as beliefs and rule of law play a role.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"12 4‐5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140700764","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}
Purpose: The aim of the study was to examine the corporate governance and firm performance: a cross-country analysis. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Financial regulations in Germany impact market liquidity through a complex interplay of factors. While they enhance stability and investor protection, compliance costs and altered trading dynamics may initially hinder liquidity. However, regulatory initiatives driving innovation and global harmonization can ultimately foster a more efficient market environment, benefiting both domestic and international Unique Contribution to Theory, Practice and Policy: Agency theory, stewardship theory & institutional theory may be used to anchor future studies on the corporate governance and firm performance: a cross-country analysis. The study should provide practical recommendations for firms and corporate boards to enhance their corporate governance practices based on empirical findings. The study should inform policymakers and regulatory authorities about the implications of corporate governance regulations on firm performance and market competitiveness.
{"title":"Corporate Governance and Firm Performance: A Cross-Country Analysis in South Korea","authors":"Min-ji Kang","doi":"10.47604/ijfa.2451","DOIUrl":"https://doi.org/10.47604/ijfa.2451","url":null,"abstract":"Purpose: The aim of the study was to examine the corporate governance and firm performance: a cross-country analysis. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: Financial regulations in Germany impact market liquidity through a complex interplay of factors. While they enhance stability and investor protection, compliance costs and altered trading dynamics may initially hinder liquidity. However, regulatory initiatives driving innovation and global harmonization can ultimately foster a more efficient market environment, benefiting both domestic and international \u0000Unique Contribution to Theory, Practice and Policy: Agency theory, stewardship theory & institutional theory may be used to anchor future studies on the corporate governance and firm performance: a cross-country analysis. The study should provide practical recommendations for firms and corporate boards to enhance their corporate governance practices based on empirical findings. The study should inform policymakers and regulatory authorities about the implications of corporate governance regulations on firm performance and market competitiveness.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"33 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140746132","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}
Purpose: The aim of the study was to investigate the exchange rate volatility and international trade in Malaysia. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Exchange rate volatility significantly impacts international trade by affecting exporters, importers, and trade volumes. It introduces uncertainty, raises hedging costs, and alters price competitiveness, leading to shifts in trade flows. While policymakers implement measures to manage volatility, their effectiveness is debated. Regional trade agreements can mitigate its impact, but challenges persist. Effective management of exchange rate volatility is essential for fostering stable international trade relationships. Unique Contribution to Theory, Practice and Policy: The theory of purchasing power parity (PPP), the theory of optimum currency areas (OCA) & the balassa- samuelson effect may be used to anchor future studies on the exchange rate volatility and international trade in Malaysia. Implement risk management strategies to mitigate the adverse effects of exchange rate volatility on international trade, including the use of financial derivatives, hedging instruments, and diversification strategies. Design and implement policies that strike a balance between exchange rate flexibility and stability, recognizing the trade-offs between exchange rate volatility and export competitiveness.
{"title":"Exchange Rate Volatility and International Trade in Turkey","authors":"Nurul Hidayah","doi":"10.47604/ijfa.2450","DOIUrl":"https://doi.org/10.47604/ijfa.2450","url":null,"abstract":"Purpose: The aim of the study was to investigate the exchange rate volatility and international trade in Malaysia. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: Exchange rate volatility significantly impacts international trade by affecting exporters, importers, and trade volumes. It introduces uncertainty, raises hedging costs, and alters price competitiveness, leading to shifts in trade flows. While policymakers implement measures to manage volatility, their effectiveness is debated. Regional trade agreements can mitigate its impact, but challenges persist. Effective management of exchange rate volatility is essential for fostering stable international trade relationships. \u0000Unique Contribution to Theory, Practice and Policy: The theory of purchasing power parity (PPP), the theory of optimum currency areas (OCA) & the balassa- samuelson effect may be used to anchor future studies on the exchange rate volatility and international trade in Malaysia. Implement risk management strategies to mitigate the adverse effects of exchange rate volatility on international trade, including the use of financial derivatives, hedging instruments, and diversification strategies. Design and implement policies that strike a balance between exchange rate flexibility and stability, recognizing the trade-offs between exchange rate volatility and export competitiveness.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"54 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140742948","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}
Purpose: The aim of the study was to investigate the Financial Innovation and Risk Management. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Japan has seen a surge in financial innovation driven by fintech startups and digitalization efforts by traditional banks. However, this innovation comes with regulatory challenges and risks that must be managed. Regulatory frameworks are being updated to address new risks like cybersecurity threats. There's also a growing focus on corporate governance, risk culture, and sustainability integration. Unique Contribution to Theory, Practice and Policy: Option pricing theory, capital asset pricing model (CAPM) & modern portfolio theory (MPT) may be used to anchor future studies on the financial innovation and risk management. Foster a culture of innovation within financial institutions by promoting collaboration between risk management professionals and product development teams. Establish regulatory sandboxes and innovation hubs to facilitate responsible experimentation with financial innovations while maintaining regulatory oversight.
{"title":"Financial Innovation and Risk Management in Japan","authors":"Haruka Sato","doi":"10.47604/ijfa.2452","DOIUrl":"https://doi.org/10.47604/ijfa.2452","url":null,"abstract":"Purpose: The aim of the study was to investigate the Financial Innovation and Risk Management. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: Japan has seen a surge in financial innovation driven by fintech startups and digitalization efforts by traditional banks. However, this innovation comes with regulatory challenges and risks that must be managed. Regulatory frameworks are being updated to address new risks like cybersecurity threats. There's also a growing focus on corporate governance, risk culture, and sustainability integration. \u0000Unique Contribution to Theory, Practice and Policy: Option pricing theory, capital asset pricing model (CAPM) & modern portfolio theory (MPT) may be used to anchor future studies on the financial innovation and risk management. Foster a culture of innovation within financial institutions by promoting collaboration between risk management professionals and product development teams. Establish regulatory sandboxes and innovation hubs to facilitate responsible experimentation with financial innovations while maintaining regulatory oversight.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"14 28","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140745684","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}
Purpose: The aim of the study was to investigate the impact of financial regulations on market liquidity in Germany. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Financial regulations in Germany impact market liquidity through a complex interplay of factors. While they enhance stability and investor protection, compliance costs and altered trading dynamics may initially hinder liquidity. However, regulatory initiatives driving innovation and global harmonization can ultimately foster a more efficient market environment, benefiting both domestic and international Unique Contribution to Theory, Practice and Policy: Market microstructure theory, information-based theory of liquidity & agency theory may be used to anchor future studies on the impact of financial regulations on market liquidity in Germany. Financial institutions should proactively adapt their trading strategies and liquidity management practices in response to changing regulatory environments. Regulators should adopt a balanced approach to financial regulation, considering both the benefits of market liquidity and the need for stability and investor protection.
{"title":"Impact of Financial Regulations on Market Liquidity in Germany","authors":"Lukas Keller","doi":"10.47604/ijfa.2449","DOIUrl":"https://doi.org/10.47604/ijfa.2449","url":null,"abstract":"Purpose: The aim of the study was to investigate the impact of financial regulations on market liquidity in Germany. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: Financial regulations in Germany impact market liquidity through a complex interplay of factors. While they enhance stability and investor protection, compliance costs and altered trading dynamics may initially hinder liquidity. However, regulatory initiatives driving innovation and global harmonization can ultimately foster a more efficient market environment, benefiting both domestic and international \u0000Unique Contribution to Theory, Practice and Policy: Market microstructure theory, information-based theory of liquidity & agency theory may be used to anchor future studies on the impact of financial regulations on market liquidity in Germany. Financial institutions should proactively adapt their trading strategies and liquidity management practices in response to changing regulatory environments. Regulators should adopt a balanced approach to financial regulation, considering both the benefits of market liquidity and the need for stability and investor protection.","PeriodicalId":508416,"journal":{"name":"International Journal of Finance and Accounting","volume":"17 S1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140741379","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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