Research in International Business and Finance最新文献

英文中文

Exit decisions of women entrepreneurs in resource-constrained environments

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-15 DOI: 10.1016/j.ribaf.2025.102798

Viviana Fernandez

A better understanding of gender inequality in entrepreneurship due to institutional factors is critical to creating a fair and thriving entrepreneurial ecosystem. This study analyses the impact of legal egalitarianism and institutional quality on the exit decisions of around 80,000 entrepreneurs from 88 countries during 2014–2018. The main findings are as follows. First, in countries with high legal barriers to women’s economic participation, total exit rates and bankruptcy exit rates are higher for both male and female entrepreneurs. Second, low institutional quality is even more detrimental to female entrepreneurs, as it further reduces their chances of exiting voluntarily, in general, and exiting for personal reasons, in particular. Third, there is some evidence that in weak institutional environments the continuity of a business may depend on the gender of its former owner/manager. These findings suggest that policymakers should focus on revising or eliminating laws that discriminate against women. This would include changes to laws related to property rights, business ownership, flexible work schedules, affordable childcare, and parental leave policies. Policymakers should also focus on improving institutional frameworks by reducing bureaucratic obstacles, improving access to credit, enhancing governance, ensuring contract enforcement, and protecting property rights to create a stable environment for business growth and innovation. Addressing gender inequalities also requires challenging and transforming informal institutions that limit women's rights and opportunities. This involves raising awareness, promoting gender equality norms, empowering women economically and socially, and fostering an enabling environment for gender equality and women's empowerment.

{"title":"Exit decisions of women entrepreneurs in resource-constrained environments","authors":"Viviana Fernandez","doi":"10.1016/j.ribaf.2025.102798","DOIUrl":"10.1016/j.ribaf.2025.102798","url":null,"abstract":"<div><div>A better understanding of gender inequality in entrepreneurship due to institutional factors is critical to creating a fair and thriving entrepreneurial ecosystem. This study analyses the impact of legal egalitarianism and institutional quality on the exit decisions of around 80,000 entrepreneurs from 88 countries during 2014–2018. The main findings are as follows. First, in countries with high legal barriers to women’s economic participation, total exit rates and bankruptcy exit rates are higher for both male and female entrepreneurs. Second, low institutional quality is even more detrimental to female entrepreneurs, as it further reduces their chances of exiting voluntarily, in general, and exiting for personal reasons, in particular. Third, there is some evidence that in weak institutional environments the continuity of a business may depend on the gender of its former owner/manager. These findings suggest that policymakers should focus on revising or eliminating laws that discriminate against women. This would include changes to laws related to property rights, business ownership, flexible work schedules, affordable childcare, and parental leave policies. Policymakers should also focus on improving institutional frameworks by reducing bureaucratic obstacles, improving access to credit, enhancing governance, ensuring contract enforcement, and protecting property rights to create a stable environment for business growth and innovation. Addressing gender inequalities also requires challenging and transforming informal institutions that limit women's rights and opportunities. This involves raising awareness, promoting gender equality norms, empowering women economically and socially, and fostering an enabling environment for gender equality and women's empowerment.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102798"},"PeriodicalIF":6.3,"publicationDate":"2025-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143437222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The green circuit: Tracing digital inclusive finance's role in sustainable urban development

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102809

Zhiyuan Gao , Yingnan Zhu , Yihang Wei , Yu Hao

Digital inclusive finance (DIF) can fully leverage technological advantages to overcome obstacles faced by traditional financial service models, becoming an effective tool to promote inclusive green growth (IGG). This paper examines the combined influence of DIF on urban prosperity, green development, and social equity. This is after examining the impact of DIF from provincial and single viewpoints in previous studies. DIF has been shown to effectively enhance urban IGG and have a long-term effect based on empirical research using urban panel data from China. In a heterogeneity analysis, the results indicate that DIF improves IGG in central cities, non-resource-based cities, and eastern cities significantly. In the context of urban IGG, DIF contributes to urban IGG through technological innovation, human capital, and investment levels. This study focuses on DIF to promote the transition of the economy and contribute to high-quality development objectives. This research provides empirical evidence and policy implications for using DIF to achieve these goals.

引用次数: 0

Dividend payouts and biodiversity risk — Chinese evidence

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102792

Yang Zhou , Brian M. Lucey , Feng He

Across 25979 firm years, from 2007 to 2022, we investigate how Chinese firms exposed to biodiversity risk adjust corporate dividend payouts. The results show that biodiversity risk exposure significantly lowers the level of corporate dividend payouts, mainly through two channels — aggravating financing difficulties and promoting resource reallocation. Further, the negative impact of biodiversity risk on corporate dividend payouts is more prominent in firms with weaker political connections, stronger external supervision, and poorer internal governance. Our findings are consistent across several robustness checks. Overall, our work sheds light on the influence of the emerging challenge of biodiversity risk on corporate dividend payouts.

引用次数: 0

The dynamic impact of cryptocurrency implied exchange rates on stock market returns: An empirical study of G7 countries

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102803

Chao Feng, Shiqun Ma, Lijin Xiang, Zumian Xiao

Based on the Bitcoin price data from July 21, 2014 to December 30, 2018, this paper constructs a cryptocurrency implied exchange rate indicator, and uses the time-varying Granger causality test and the TVP-VAR-SV model to investigate the impact of cryptocurrency implied exchange rate in G7 countries on their stock market returns and the time-varying characteristics of the impact. Our study has unveiled that the cryptocurrency implied exchange rates of G7 countries are the Granger cause of corresponding stock market returns. Furthermore, this causality exhibits time-varying characteristics. There is evident heterogeneity in the causal relationship between cryptocurrency implied exchange rates and stock market performance across various countries, as well as significant heterogeneity in the impact of cryptocurrency implied exchange rates on stock market returns. As the lag period increases, the impact of cryptocurrency implied exchange rate on its stock market returns gradually weakens. The impact of cryptocurrency implied exchange rates on stock market returns shows strong similarities when some major events such as the Federal Reserve announced an interest rate hike, Bitcoin prices achieved new breakthroughs, and the US-China trade war occurred.

{"title":"The dynamic impact of cryptocurrency implied exchange rates on stock market returns: An empirical study of G7 countries","authors":"Chao Feng, Shiqun Ma, Lijin Xiang, Zumian Xiao","doi":"10.1016/j.ribaf.2025.102803","DOIUrl":"10.1016/j.ribaf.2025.102803","url":null,"abstract":"<div><div>Based on the Bitcoin price data from July 21, 2014 to December 30, 2018, this paper constructs a cryptocurrency implied exchange rate indicator, and uses the time-varying Granger causality test and the TVP-VAR-SV model to investigate the impact of cryptocurrency implied exchange rate in G7 countries on their stock market returns and the time-varying characteristics of the impact. Our study has unveiled that the cryptocurrency implied exchange rates of G7 countries are the Granger cause of corresponding stock market returns. Furthermore, this causality exhibits time-varying characteristics. There is evident heterogeneity in the causal relationship between cryptocurrency implied exchange rates and stock market performance across various countries, as well as significant heterogeneity in the impact of cryptocurrency implied exchange rates on stock market returns. As the lag period increases, the impact of cryptocurrency implied exchange rate on its stock market returns gradually weakens. The impact of cryptocurrency implied exchange rates on stock market returns shows strong similarities when some major events such as the Federal Reserve announced an interest rate hike, Bitcoin prices achieved new breakthroughs, and the US-China trade war occurred.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102803"},"PeriodicalIF":6.3,"publicationDate":"2025-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143437221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does short selling affect corporate green transformation? —Evidence from China

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102801

Deshuai Hou , Qi Wang , Qiong Sun , Ying Chen

This study examines the impact of short selling on corporate green transformation. The findings suggest that short selling significantly hinders this transformation. The mechanism analysis demonstrates that short selling mainly hinders corporate green transformation by aggravating managerial short-sightedness, lowering corporate green innovation quality, misallocating green resources, and reducing the investment of green investors. Further analysis reveals that the negative impact of short selling is more pronounced in firms with higher internal and external pressures, and poorer information quality. Extended research identifies firm-specific limitations emerge as key factors constraining the role of short selling. In addition, CEOs with environmental experience and increased management shareholding can effectively mitigate the negative impact of short selling on corporate green transformation. This study enriches the literature on short-selling and low-carbon transformation of market micro-entities. It also provides empirical evidence that addresses the bottlenecks in corporate green transformation and policy formulation in the context of ecological civilization construction.

{"title":"Does short selling affect corporate green transformation? —Evidence from China","authors":"Deshuai Hou , Qi Wang , Qiong Sun , Ying Chen","doi":"10.1016/j.ribaf.2025.102801","DOIUrl":"10.1016/j.ribaf.2025.102801","url":null,"abstract":"<div><div>This study examines the impact of short selling on corporate green transformation. The findings suggest that short selling significantly hinders this transformation. The mechanism analysis demonstrates that short selling mainly hinders corporate green transformation by aggravating managerial short-sightedness, lowering corporate green innovation quality, misallocating green resources, and reducing the investment of green investors. Further analysis reveals that the negative impact of short selling is more pronounced in firms with higher internal and external pressures, and poorer information quality. Extended research identifies firm-specific limitations emerge as key factors constraining the role of short selling. In addition, CEOs with environmental experience and increased management shareholding can effectively mitigate the negative impact of short selling on corporate green transformation. This study enriches the literature on short-selling and low-carbon transformation of market micro-entities. It also provides empirical evidence that addresses the bottlenecks in corporate green transformation and policy formulation in the context of ecological civilization construction.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102801"},"PeriodicalIF":6.3,"publicationDate":"2025-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143464948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How does macroeconomic uncertainty influence energy futures?: Evidence from extraordinary events

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102815

Man Lu , Libo Yin , Fengwen Chen

This study examines the influence of macroeconomic uncertainty caused by extraordinary events on the Chinese energy futures market. Using a model that disaggregates macro and market effects using publicly available data, we delineate two distinct pathways through which macroeconomic uncertainty impacts energy futures prices and quantify the influence exerted by each channel. Our analysis reveals that macroeconomic uncertainty, when transmitted through macro effects, negatively impacts the price dynamics of energy futures. Conversely, the effect of macroeconomic uncertainty transmitted through market-specific mechanisms on energy futures prices varies depending on the source of uncertainty. The net effect is a result of the interplay between the two channels. The effects observed in energy futures are markedly different from those observed in other futures categories. A placebo test confirm that our findings are not driven by random fluctuations or daily price variations but are, in fact, due to macroeconomic uncertainty. Our results remain robust even when more granular classifications of energy futures are considered. Our conclusions provide significant insights for policymakers and market participants in risk management and enhance understanding of the mechanisms underpinning energy futures pricing.

{"title":"How does macroeconomic uncertainty influence energy futures?: Evidence from extraordinary events","authors":"Man Lu , Libo Yin , Fengwen Chen","doi":"10.1016/j.ribaf.2025.102815","DOIUrl":"10.1016/j.ribaf.2025.102815","url":null,"abstract":"<div><div>This study examines the influence of macroeconomic uncertainty caused by extraordinary events on the Chinese energy futures market. Using a model that disaggregates macro and market effects using publicly available data, we delineate two distinct pathways through which macroeconomic uncertainty impacts energy futures prices and quantify the influence exerted by each channel. Our analysis reveals that macroeconomic uncertainty, when transmitted through macro effects, negatively impacts the price dynamics of energy futures. Conversely, the effect of macroeconomic uncertainty transmitted through market-specific mechanisms on energy futures prices varies depending on the source of uncertainty. The net effect is a result of the interplay between the two channels. The effects observed in energy futures are markedly different from those observed in other futures categories. A placebo test confirm that our findings are not driven by random fluctuations or daily price variations but are, in fact, due to macroeconomic uncertainty. Our results remain robust even when more granular classifications of energy futures are considered. Our conclusions provide significant insights for policymakers and market participants in risk management and enhance understanding of the mechanisms underpinning energy futures pricing.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102815"},"PeriodicalIF":6.3,"publicationDate":"2025-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143446066","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Sustainable financial inclusion through social progress and regularity quality interaction – Implication for least developed countries

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-14 DOI: 10.1016/j.ribaf.2025.102811

Shajara Ul-Durar , Mubasher Iqbal , Shabana Naveed , Alberto Massacci , Irfan Saleem

Sustainable development through social progress is resolute in enhancing financial inclusion through spreading the affordable financial facilities. However, the Social Progress Index (SPI) reflects sustainable development by measuring a country's ability to meet basic human needs, support well-being, and provide opportunities for a better quality of life, beyond just economic growth, and pave the way for spreading access to affordable financial services. This study has considered least-developed countries due to their diverse socio-economic challenges and financial disparities. For this purpose, data from 2011 to 2023 is considered. Estimated results using the Driscoll-Kraay standard error and Panel Quantile Regression methods have validated the inverted U-shaped impact of social progress on financial inclusion. It implies that moderate levels of social progress can enhance financial access. However, excessive focus on social progress without adequate economic growth hinders financial service expansion, ultimately affecting overall economic stability and inclusion. This study incorporates regularity quality as a determinant of financial inclusion and a moderator of social progress. It negatively determines financial inclusion but, as a moderator, it boosts social progress towards sustainable financial inclusion. Furthermore, overall productive capacity and technology, mainly through internet usage as the model's control variables, are vital in promoting financial inclusion.

{"title":"Sustainable financial inclusion through social progress and regularity quality interaction – Implication for least developed countries","authors":"Shajara Ul-Durar , Mubasher Iqbal , Shabana Naveed , Alberto Massacci , Irfan Saleem","doi":"10.1016/j.ribaf.2025.102811","DOIUrl":"10.1016/j.ribaf.2025.102811","url":null,"abstract":"<div><div>Sustainable development through social progress is resolute in enhancing financial inclusion through spreading the affordable financial facilities. However, the Social Progress Index (SPI) reflects sustainable development by measuring a country's ability to meet basic human needs, support well-being, and provide opportunities for a better quality of life, beyond just economic growth, and pave the way for spreading access to affordable financial services. This study has considered least-developed countries due to their diverse socio-economic challenges and financial disparities. For this purpose, data from 2011 to 2023 is considered. Estimated results using the Driscoll-Kraay standard error and Panel Quantile Regression methods have validated the inverted U-shaped impact of social progress on financial inclusion. It implies that moderate levels of social progress can enhance financial access. However, excessive focus on social progress without adequate economic growth hinders financial service expansion, ultimately affecting overall economic stability and inclusion. This study incorporates regularity quality as a determinant of financial inclusion and a moderator of social progress. It negatively determines financial inclusion but, as a moderator, it boosts social progress towards sustainable financial inclusion. Furthermore, overall productive capacity and technology, mainly through internet usage as the model's control variables, are vital in promoting financial inclusion.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102811"},"PeriodicalIF":6.3,"publicationDate":"2025-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143430011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does human flight and brain drain affect cross-border acquisitions? Insights into tobit and binomial regression models

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-13 DOI: 10.1016/j.ribaf.2025.102805

Chandrika Raghavendra , Miklesh Prasad Yadav , Taimur Sharif , Mohammad Zoynul Abedin

India has witnessed dramatic expansion in cross-border acquisition (CBA) activities. Although extant literature has examined various determinants of the flow of CBA activities to emerging economies, the role of human flight and brain drain (HFBD) has remained underexplored. Moreover, India’s HFBD index, indicating the economic consequence of brain drain, has been decreasing in the past three decades while its inbound CBA activities are escalating. Against this background, drawing on institutional and ethnic network theories, we develop a hypothesis to understand the influence of HFBD on CBA volume. We also examine the moderating effect of economic distance (ED) through which HFBD impacts India’s share of CBA. We use a sample of 804 country–year observations covering 57 home countries that acquired Indian target firms in the 1990–2020 period. Our findings show that India’s HFBD is inversely correlated with its CBA volume, indicating that the reduced economic consequences of HFBD boost India’s attraction of CBA volume. Additionally, ED significantly moderates the impact of HFBD on CBA volume. The findings of this research offer key insights for policymakers and multinational enterprises regarding brain drain and CBAs.

{"title":"Does human flight and brain drain affect cross-border acquisitions? Insights into tobit and binomial regression models","authors":"Chandrika Raghavendra , Miklesh Prasad Yadav , Taimur Sharif , Mohammad Zoynul Abedin","doi":"10.1016/j.ribaf.2025.102805","DOIUrl":"10.1016/j.ribaf.2025.102805","url":null,"abstract":"<div><div>India has witnessed dramatic expansion in cross-border acquisition (CBA) activities. Although extant literature has examined various determinants of the flow of CBA activities to emerging economies, the role of human flight and brain drain (HFBD) has remained underexplored. Moreover, India’s HFBD index, indicating the economic consequence of brain drain, has been decreasing in the past three decades while its inbound CBA activities are escalating. Against this background, drawing on institutional and ethnic network theories, we develop a hypothesis to understand the influence of HFBD on CBA volume. We also examine the moderating effect of economic distance (ED) through which HFBD impacts India’s share of CBA. We use a sample of 804 country–year observations covering 57 home countries that acquired Indian target firms in the 1990–2020 period. Our findings show that India’s HFBD is inversely correlated with its CBA volume, indicating that the reduced economic consequences of HFBD boost India’s attraction of CBA volume. Additionally, ED significantly moderates the impact of HFBD on CBA volume. The findings of this research offer key insights for policymakers and multinational enterprises regarding brain drain and CBAs.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"75 ","pages":"Article 102805"},"PeriodicalIF":6.3,"publicationDate":"2025-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143419258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Differential impact of adopting Islamic banking: A quasi-experimental approach

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-12 DOI: 10.1016/j.ribaf.2025.102793

Adil Saleem , RM Ammar Zahid , Judit Sagi

This study examines the treatment effect of the adoption of Islamic banking system in Pakistan. Compared to traditional banks, the distinct involvement of Islamic banks in real trading, along with its risk-sharing attributes, necessitates an examination of whether these differences impact economic growth. We applied a novel quasi-experimental research design using the synthetic control method (SCM) to examine the incremental effect of Islamic banking adoption on economic growth from 1990 to 2022. Results confirm that the Islamic financial system contributed differentially to economic growth in Pakistan, compared to the control group (51 countries), in the post-adoption period. The counterfactual effect on economic growth is estimated to be between 23% and 32% compared to the countries where Sharia banking is absent. The results are consistent and robust to alternative analysis, SCM with additional covariates, and placebo tests. The results also provide crucial implications for countries and central banks to implement Sharia-based banking, complementing the United Nations’ Sustainable Development Goal 8.

{"title":"Differential impact of adopting Islamic banking: A quasi-experimental approach","authors":"Adil Saleem , RM Ammar Zahid , Judit Sagi","doi":"10.1016/j.ribaf.2025.102793","DOIUrl":"10.1016/j.ribaf.2025.102793","url":null,"abstract":"<div><div>This study examines the treatment effect of the adoption of Islamic banking system in Pakistan. Compared to traditional banks, the distinct involvement of Islamic banks in real trading, along with its risk-sharing attributes, necessitates an examination of whether these differences impact economic growth. We applied a novel quasi-experimental research design using the synthetic control method (SCM) to examine the incremental effect of Islamic banking adoption on economic growth from 1990 to 2022. Results confirm that the Islamic financial system contributed differentially to economic growth in Pakistan, compared to the control group (51 countries), in the post-adoption period. The counterfactual effect on economic growth is estimated to be between 23% and 32% compared to the countries where Sharia banking is absent. The results are consistent and robust to alternative analysis, SCM with additional covariates, and placebo tests. The results also provide crucial implications for countries and central banks to implement Sharia-based banking, complementing the United Nations’ Sustainable Development Goal 8.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102793"},"PeriodicalIF":6.3,"publicationDate":"2025-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143437223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How do exchange rate and oil price volatility shape Pakistan’s stock market?

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-02-12 DOI: 10.1016/j.ribaf.2025.102796

Misbah Khan , Sitara Karim , Farah Naz , Brian M. Lucey

Changes in oil prices and currency values significantly influence economic systems worldwide, with pronounced effects on equity markets. This study specifically examines the consequences of oil price changes and currency value fluctuations on the volatility of Pakistan's stock market, exploring both direct and indirect pathways. Employing the Tobit regression model, it investigates how the volatility of oil prices and exchange rates impacts the volatility of stock returns in the Pakistani context. The findings underscore the importance for investors and policymakers in Pakistan to consider the implications of oil and currency volatility when assessing investment risks and opportunities in the stock market. This research contributes to the understanding of the intricate relationships between oil price volatility, exchange rate fluctuations, and stock market dynamics in Pakistan, offering valuable insights for informed decision-making.

引用次数: 0

首页上一页

下一页尾页

类型

全部化学•材料生命科学医学物理工程技术环境•农林材料科学地球科学法学管理学化学环境科学与生态学计算机科学教育学经济学农林科学人文科学生物学数学物理与天体物理心理学综合性期刊其他工业工程理学历史学农学文学信息工程

数据库

全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley

期刊

Research in International Business and Finance

全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.

﹀