首页 > 最新文献

Journal of Economics, Finance and Administrative Science最新文献

英文 中文
Utility under the Dark Tetrad 黑暗四极下的实用性
IF 2.3 Q2 ECONOMICS Pub Date : 2024-07-19 DOI: 10.1108/jefas-07-2022-0164
Orlando Gomes
PurposeLiterature on psychology highlights four traits that shape an amoral and antisocial personality: Machiavellianism, narcissism, psychopathy and sadism. Together, these personality traits form the Dark Tetrad. In this study, the standard intertemporal utility maximization model is reassessed from the point of view of a representative economic agent endowed with the Dark Tetrad personality traits.Design/methodology/approachThe approach followed in this paper consists of identifying how each of the Dark Tetrad traits might be logically associated with the dynamic utility problem, as well as exploring, in the context of the model, the implications, for consumption and utility, of admitting the presence of such traits in individuals’ personalities.FindingsIt is found that, typically, dark personalities penalize consumption growth, even when such traits are interpreted directly and positively contributing to the utility of the agent. It is also found that in economies with two or more interacting agents, the dark traits might have a mutually destructive nature.Originality/valueEconomics is going through a smooth revolution in the direction of becoming an eminently behavioral science. Most of the traditional economic models, based on the idea of the hyper-rational agent, are being replaced or complemented by a different view of the homo-economicus, in which, among other things, personality matters. This paper offers a novel contribution in this direction.
目的心理学文献强调了塑造无道德和反社会人格的四个特征:马基雅维利主义、自恋、心理变态和虐待狂。这些人格特质共同构成了 "黑暗四性格"。在本研究中,我们将从一个具有 "黑暗四分体 "人格特质的代表性经济人的角度,重新评估标准的时际效用最大化模型。设计/方法/途径本文所采用的方法包括确定每种黑暗四项性格特征在逻辑上如何与动态效用问题相关联,以及在模型中探讨承认个人性格中存在这些特征对消费和效用的影响。研究还发现,在有两个或更多相互影响的行为主体的经济体中,阴暗性格可能具有相互破坏的性质。大多数基于超理性主体思想的传统经济模型正在被一种不同的同体经济人观点所取代或补充,在这种观点中,除其他事项外,个性也很重要。本文在这方面做出了新的贡献。
{"title":"Utility under the Dark Tetrad","authors":"Orlando Gomes","doi":"10.1108/jefas-07-2022-0164","DOIUrl":"https://doi.org/10.1108/jefas-07-2022-0164","url":null,"abstract":"PurposeLiterature on psychology highlights four traits that shape an amoral and antisocial personality: Machiavellianism, narcissism, psychopathy and sadism. Together, these personality traits form the Dark Tetrad. In this study, the standard intertemporal utility maximization model is reassessed from the point of view of a representative economic agent endowed with the Dark Tetrad personality traits.Design/methodology/approachThe approach followed in this paper consists of identifying how each of the Dark Tetrad traits might be logically associated with the dynamic utility problem, as well as exploring, in the context of the model, the implications, for consumption and utility, of admitting the presence of such traits in individuals’ personalities.FindingsIt is found that, typically, dark personalities penalize consumption growth, even when such traits are interpreted directly and positively contributing to the utility of the agent. It is also found that in economies with two or more interacting agents, the dark traits might have a mutually destructive nature.Originality/valueEconomics is going through a smooth revolution in the direction of becoming an eminently behavioral science. Most of the traditional economic models, based on the idea of the hyper-rational agent, are being replaced or complemented by a different view of the homo-economicus, in which, among other things, personality matters. This paper offers a novel contribution in this direction.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141824218","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}
引用次数: 0
ESG and financial performance via uncertain mining technology: do Multilatinas contribute to the sustainability of the region? 通过不确定的采矿技术实现环境、社会和公司治理与财务绩效:多拉塔纳公司是否为本地区的可持续发展做出了贡献?
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-06-17 DOI: 10.1108/jefas-02-2024-0040
Carlos Alexander Grajales, Katherine Albanés Uribe
PurposeThis paper proposes a methodology based on an uncertain mining technology that identifies the linguistic relationships of ESG and its components with a financial performance metric to help the sustainability diagnosis of a region, specifically Latin America.Design/methodology/approachFirst, based on a relevant dataset of companies in a region, a procedure is formulated whereby an uncertain mining technology extracts the mathematically significant linguistic relationships of ESG and its components with a financial performance metric. Second, a knowledge management process is designed based on the linguistic summaries obtained from the mining process. As a final step and drawing upon the two preceding processes, a diagrammatic system of signals is proposed for diagnosing the sustainability of the region as contributed by its companies.FindingsAfter this methodology is instantiated on a group of Multilatinas, it is observed that their sustainability contributions to the region are limited and that none of the identified linguistic relationships between ESG and the financial performance metric are favorable for the region.Originality/valueThis is the first proposal of its kind and it can be applied to any region of the world to assess the financial performance of its companies regarding their ESG commitments. In addition, it enables the region to comprehensively monitor compliance with the 2030 SDG agenda.
目的 本文提出了一种基于不确定挖掘技术的方法,该技术可识别环境、社会和公司治理(ESG)及其组成部分与财务业绩指标之间的语言关系,以帮助对某一地区(特别是拉丁美洲)的可持续发展进行诊断。其次,根据挖掘过程中获得的语言摘要设计知识管理流程。最后,在前两个过程的基础上,提出了一个信号图解系统,用于诊断企业对该地区可持续发展的贡献。研究结果在对一组多拉塔纳公司实施该方法后,发现这些公司对该地区可持续发展的贡献有限,而且在 ESG 与财务业绩指标之间确定的语言关系中,没有一个对该地区有利。原创性/价值:这是首个同类建议,可应用于世界任何地区,以评估其公司在环境、社会和公司治理承诺方面的财务业绩。此外,它还能使该地区全面监测 2030 年可持续发展目标议程的遵守情况。
{"title":"ESG and financial performance via uncertain mining technology: do Multilatinas contribute to the sustainability of the region?","authors":"Carlos Alexander Grajales, Katherine Albanés Uribe","doi":"10.1108/jefas-02-2024-0040","DOIUrl":"https://doi.org/10.1108/jefas-02-2024-0040","url":null,"abstract":"PurposeThis paper proposes a methodology based on an uncertain mining technology that identifies the linguistic relationships of ESG and its components with a financial performance metric to help the sustainability diagnosis of a region, specifically Latin America.Design/methodology/approachFirst, based on a relevant dataset of companies in a region, a procedure is formulated whereby an uncertain mining technology extracts the mathematically significant linguistic relationships of ESG and its components with a financial performance metric. Second, a knowledge management process is designed based on the linguistic summaries obtained from the mining process. As a final step and drawing upon the two preceding processes, a diagrammatic system of signals is proposed for diagnosing the sustainability of the region as contributed by its companies.FindingsAfter this methodology is instantiated on a group of Multilatinas, it is observed that their sustainability contributions to the region are limited and that none of the identified linguistic relationships between ESG and the financial performance metric are favorable for the region.Originality/valueThis is the first proposal of its kind and it can be applied to any region of the world to assess the financial performance of its companies regarding their ESG commitments. In addition, it enables the region to comprehensively monitor compliance with the 2030 SDG agenda.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141334815","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}
引用次数: 0
A comparative analysis of consumer credit risk models in Peer-to-Peer Lending 点对点借贷中消费者信用风险模型的比较分析
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-06-10 DOI: 10.1108/jefas-04-2021-0026
Lua Thi Trinh
PurposeThe purpose of this paper is to compare nine different models to evaluate consumer credit risk, which are the following: Logistic Regression (LR), Naive Bayes (NB), Linear Discriminant Analysis (LDA), k-Nearest Neighbor (k-NN), Support Vector Machine (SVM), Classification and Regression Tree (CART), Artificial Neural Network (ANN), Random Forest (RF) and Gradient Boosting Decision Tree (GBDT) in Peer-to-Peer (P2P) Lending.Design/methodology/approachThe author uses data from P2P Lending Club (LC) to assess the efficiency of a variety of classification models across different economic scenarios and to compare the ranking results of credit risk models in P2P lending through three families of evaluation metrics.FindingsThe results from this research indicate that the risk classification models in the 2013–2019 economic period show greater measurement efficiency than for the difficult 2007–2012 period. Besides, the results of ranking models for predicting default risk show that GBDT is the best model for most of the metrics or metric families included in the study. The findings of this study also support the results of Tsai et al. (2014) and Teplý and Polena (2019) that LR, ANN and LDA models classify loan applications quite stably and accurately, while CART, k-NN and NB show the worst performance when predicting borrower default risk on P2P loan data.Originality/valueThe main contributions of the research to the empirical literature review include: comparing nine prediction models of consumer loan application risk through statistical and machine learning algorithms evaluated by the performance measures according to three separate families of metrics (threshold, ranking and probabilistic metrics) that are consistent with the existing data characteristics of the LC lending platform through two periods of reviewing the current economic situation and platform development.
本文旨在比较以下九种不同的消费者信用风险评估模型:Logistic Regression (LR)、Naive Bayes (NB)、Linear Discriminant Analysis (LDA)、k-Nearest Neighbor (k-NN)、Support Vector Machine (SVM)、Classification and Regression Tree (CART)、Artificial Neural Network (ANN)、Random Forest (RF) 和 Gradient Boosting Decision Tree (GBDT) 。作者利用 P2P Lending Club(LC)的数据,评估了各种分类模型在不同经济形势下的效率,并通过三个系列的评价指标比较了 P2P 借贷中信用风险模型的排名结果。研究结果研究结果表明,与困难的 2007-2012 年相比,2013-2019 年经济时期的风险分类模型显示出更高的衡量效率。此外,预测违约风险的排序模型结果显示,GBDT 是本研究中大多数指标或指标族的最佳模型。本研究的结果也支持 Tsai 等人(2014 年)以及 Teplý 和 Polena(2019 年)的研究结果,即 LR、ANN 和 LDA 模型能相当稳定、准确地对贷款申请进行分类,而 CART、k-NN 和 NB 在预测 P2P 贷款数据中借款人的违约风险时表现最差。原创性/价值该研究对实证文献综述的主要贡献包括:通过回顾当前经济形势和平台发展两个时期,比较了通过统计和机器学习算法评估的九种消费贷款申请风险预测模型,这些模型的性能指标按照三个独立的指标系列(阈值、排名和概率指标)进行评估,符合 LC 借贷平台的现有数据特征。
{"title":"A comparative analysis of consumer credit risk models in Peer-to-Peer Lending","authors":"Lua Thi Trinh","doi":"10.1108/jefas-04-2021-0026","DOIUrl":"https://doi.org/10.1108/jefas-04-2021-0026","url":null,"abstract":"PurposeThe purpose of this paper is to compare nine different models to evaluate consumer credit risk, which are the following: Logistic Regression (LR), Naive Bayes (NB), Linear Discriminant Analysis (LDA), k-Nearest Neighbor (k-NN), Support Vector Machine (SVM), Classification and Regression Tree (CART), Artificial Neural Network (ANN), Random Forest (RF) and Gradient Boosting Decision Tree (GBDT) in Peer-to-Peer (P2P) Lending.Design/methodology/approachThe author uses data from P2P Lending Club (LC) to assess the efficiency of a variety of classification models across different economic scenarios and to compare the ranking results of credit risk models in P2P lending through three families of evaluation metrics.FindingsThe results from this research indicate that the risk classification models in the 2013–2019 economic period show greater measurement efficiency than for the difficult 2007–2012 period. Besides, the results of ranking models for predicting default risk show that GBDT is the best model for most of the metrics or metric families included in the study. The findings of this study also support the results of Tsai et al. (2014) and Teplý and Polena (2019) that LR, ANN and LDA models classify loan applications quite stably and accurately, while CART, k-NN and NB show the worst performance when predicting borrower default risk on P2P loan data.Originality/valueThe main contributions of the research to the empirical literature review include: comparing nine prediction models of consumer loan application risk through statistical and machine learning algorithms evaluated by the performance measures according to three separate families of metrics (threshold, ranking and probabilistic metrics) that are consistent with the existing data characteristics of the LC lending platform through two periods of reviewing the current economic situation and platform development.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141360923","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}
引用次数: 0
Short-term effects of productive credit, savings and money demand on Ecuador’s economic growth, 2006–2020 2006-2020 年生产性信贷、储蓄和货币需求对厄瓜多尔经济增长的短期影响
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-04-25 DOI: 10.1108/jefas-03-2023-0081
Armando Urdaneta Montiel, Emmanuel Vitorio Borgucci Garcia, Segundo Camino‐Mogro
PurposeThis paper aims to determine causal relationships between the level of productive credit, real deposits and money demand – all of them in real terms – and Gross National Product between 2006 and 2020.Design/methodology/approachThe vector autoregressive technique (VAR) was used, where data from real macroeconomic aggregates published by the Central Bank of Ecuador (BCE) are correlated, such as productive credit, gross domestic product (GDP) per capita, deposits and money demand.FindingsThe results indicate that there is no causal relationship, in the Granger sense, between GDP and financial activity, but there is between the growth rate of real money demand per capita and the growth rate of total real deposits per capita.Originality/valueThe study shows that bank credit mainly finances the operations of current assets and/or liabilities. In addition, economic agents use the banking system mainly to carry out transactional and precautionary activities.
本文旨在确定 2006 年至 2020 年间生产性信贷、实际存款和货币需求(均为实际值)水平与国民生产总值之间的因果关系。本文采用了向量自回归技术(VAR),将厄瓜多尔中央银行(BCE)公布的实际宏观经济总量数据(如生产性信贷、人均国内生产总值(GDP)、存款和货币需求)相关联。研究结果研究结果表明,从格兰杰意义上讲,国内生产总值与金融活动之间不存在因果关系,但人均实际货币需求增长率与人均实际存款总额增长率之间存在因果关系。此外,经济主体主要利用银行系统进行交易和预防活动。
{"title":"Short-term effects of productive credit, savings and money demand on Ecuador’s economic growth, 2006–2020","authors":"Armando Urdaneta Montiel, Emmanuel Vitorio Borgucci Garcia, Segundo Camino‐Mogro","doi":"10.1108/jefas-03-2023-0081","DOIUrl":"https://doi.org/10.1108/jefas-03-2023-0081","url":null,"abstract":"PurposeThis paper aims to determine causal relationships between the level of productive credit, real deposits and money demand – all of them in real terms – and Gross National Product between 2006 and 2020.Design/methodology/approachThe vector autoregressive technique (VAR) was used, where data from real macroeconomic aggregates published by the Central Bank of Ecuador (BCE) are correlated, such as productive credit, gross domestic product (GDP) per capita, deposits and money demand.FindingsThe results indicate that there is no causal relationship, in the Granger sense, between GDP and financial activity, but there is between the growth rate of real money demand per capita and the growth rate of total real deposits per capita.Originality/valueThe study shows that bank credit mainly finances the operations of current assets and/or liabilities. In addition, economic agents use the banking system mainly to carry out transactional and precautionary activities.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140656187","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}
引用次数: 0
Islamic banks' contribution to Indonesia districts' economic growth and poverty alleviation 伊斯兰银行对印度尼西亚地区经济增长和减贫的贡献
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-04-24 DOI: 10.1108/jefas-06-2021-0097
Junaidi Junaidi
PurposeThis research investigates the Islamic banks’ intermediation role (e.g. branches and deposits) in financing. It also examines how financing contributes to the regions' economic growth and poverty alleviation as a predictor and mediator variable.Design/methodology/approachA total of 297 observations were extracted from 33 Indonesian districts and 14 Islamic banks during the period 2012–2020. Fixed-effect regression analysis was used to examine variable’s interactions.FindingsThe empirical results indicate that Islamic banks have adopted a channelling role towards redistributing capital from lender to borrower. Besides, there are crucial roles in developing economies and reducing poverty at the district level. This study also reinforces the critical role of financing in mediating the relationship between branches and deposits as predictor variables and GDP and poverty as outcome variables.Research limitations/implicationsThe current study was limited to Indonesian Islamic banks and the district’s perspective. Future research needs to cover sub-districts and other poverty measurements (e.g. human education and development perspectives), including conventional and Islamic banks. It can help practitioners, regulators and researchers observe the dynamic behaviour of the banking sector to understand its role in the economic and social fields.Practical implicationsBank managers and regulators should promote branches, deposits and financing. It also enlightens people about the essential role of Islamic banks and their fundamental operations in business and economics.Originality/valueThis study contributes to economic literature, bank managers and local governments' decision-making processes by developing and testing an economic growth and poverty model.
目的本研究调查了伊斯兰银行在融资中的中介作用(如分支机构和存款)。设计/方法/途径在 2012-2020 年期间,从印度尼西亚 33 个地区和 14 家伊斯兰银行中提取了共计 297 个观测值。实证结果表明,伊斯兰银行在将资本从贷款人重新分配给借款人方面发挥了引导作用。此外,伊斯兰银行在地区一级发展经济和减少贫困方面也发挥了重要作用。本研究还加强了融资在作为预测变量的分支机构和存款与作为结果变量的国内生产总值和贫困之间的中介作用。未来的研究需要涵盖分区和其他贫困衡量标准(如人类教育和发展视角),包括传统银行和伊斯兰银行。实际意义银行管理者和监管者应促进分支机构、存款和融资。本研究通过开发和测试经济增长与贫困模型,为经济文献、银行经理和地方政府的决策过程做出了贡献。
{"title":"Islamic banks' contribution to Indonesia districts' economic growth and poverty alleviation","authors":"Junaidi Junaidi","doi":"10.1108/jefas-06-2021-0097","DOIUrl":"https://doi.org/10.1108/jefas-06-2021-0097","url":null,"abstract":"PurposeThis research investigates the Islamic banks’ intermediation role (e.g. branches and deposits) in financing. It also examines how financing contributes to the regions' economic growth and poverty alleviation as a predictor and mediator variable.Design/methodology/approachA total of 297 observations were extracted from 33 Indonesian districts and 14 Islamic banks during the period 2012–2020. Fixed-effect regression analysis was used to examine variable’s interactions.FindingsThe empirical results indicate that Islamic banks have adopted a channelling role towards redistributing capital from lender to borrower. Besides, there are crucial roles in developing economies and reducing poverty at the district level. This study also reinforces the critical role of financing in mediating the relationship between branches and deposits as predictor variables and GDP and poverty as outcome variables.Research limitations/implicationsThe current study was limited to Indonesian Islamic banks and the district’s perspective. Future research needs to cover sub-districts and other poverty measurements (e.g. human education and development perspectives), including conventional and Islamic banks. It can help practitioners, regulators and researchers observe the dynamic behaviour of the banking sector to understand its role in the economic and social fields.Practical implicationsBank managers and regulators should promote branches, deposits and financing. It also enlightens people about the essential role of Islamic banks and their fundamental operations in business and economics.Originality/valueThis study contributes to economic literature, bank managers and local governments' decision-making processes by developing and testing an economic growth and poverty model.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140659276","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}
引用次数: 0
Stock splits and reverse splits in the Brazilian capital market 巴西资本市场的股票分割和反向分割
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-04-19 DOI: 10.1108/jefas-08-2021-0168
Daniel Werner Lima Souza de Almeida, Tabajara Pimenta Júnior, L. E. Gaio, Fabiano Guasti Lima
PurposeThis study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.Design/methodology/approachThe event study technique was used on data from 518 events that occurred in a 30-year period (1987–2016), comprising 167 stock splits and 351 reverse stock splits.FindingsThe results revealed the occurrence of abnormal returns around the time the shares began trading stock splits or reverse stock splits at a statistical significance level of 5%. The main conclusion is that stock split and reverse stock split operations represent opportunities for extraordinary gains and may serve as a reference for investment strategies in the Brazilian stock market.Originality/valueThis study innovates by including reverse stock splits, as the existing literature focuses on stock splits, and by testing two distinct “zero” dates that of the ordinary general meeting that approved the share alteration and the “ex” date of the alteration, when the shares were effectively traded, reverse split or split.
目的本研究旨在评估在巴西资本市场背景下,股票分割或反向股票分割导致的异常收益的存在情况。设计/方法/途径对 30 年内(1987-2016 年)发生的 518 个事件的数据采用了事件研究技术,其中包括 167 次股票分割和 351 次反向股票分割。结果结果显示,在股票分割或反向股票分割开始交易前后出现了异常收益,统计显著性水平为 5%。主要结论是,股票拆细和反向股票拆细操作代表了获得超常收益的机会,可作为巴西股市投资策略的参考。原创性/价值由于现有文献主要关注股票拆细,本研究创新性地将反向股票拆细纳入其中,并测试了两个不同的 "零 "日期,即批准股票变更的普通股东大会和变更的 "除 "日期,即股票开始有效交易、反向拆细或拆细的日期。
{"title":"Stock splits and reverse splits in the Brazilian capital market","authors":"Daniel Werner Lima Souza de Almeida, Tabajara Pimenta Júnior, L. E. Gaio, Fabiano Guasti Lima","doi":"10.1108/jefas-08-2021-0168","DOIUrl":"https://doi.org/10.1108/jefas-08-2021-0168","url":null,"abstract":"PurposeThis study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.Design/methodology/approachThe event study technique was used on data from 518 events that occurred in a 30-year period (1987–2016), comprising 167 stock splits and 351 reverse stock splits.FindingsThe results revealed the occurrence of abnormal returns around the time the shares began trading stock splits or reverse stock splits at a statistical significance level of 5%. The main conclusion is that stock split and reverse stock split operations represent opportunities for extraordinary gains and may serve as a reference for investment strategies in the Brazilian stock market.Originality/valueThis study innovates by including reverse stock splits, as the existing literature focuses on stock splits, and by testing two distinct “zero” dates that of the ordinary general meeting that approved the share alteration and the “ex” date of the alteration, when the shares were effectively traded, reverse split or split.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140683291","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}
引用次数: 0
The mediating role of marketing management in the relationship between online presence and product innovation among SMEs 营销管理在中小型企业的网络存在与产品创新之间关系中的中介作用
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-04-05 DOI: 10.1108/jefas-04-2022-0087
Allan Pérez-Orozco, J. Leiva, Ronald Mora-Esquivel
PurposeThis study explores the mediating role of marketing management in the relationship between online presence and product innovation among Small and Medium Enterprises (SMEs).Design/methodology/approachThe sample comprises 205 Costa Rican SMEs collected by the Global Competitiveness Project during the first half of 2019. The data were analyzed using a two-stage modeling strategy for ordinary regression models to analyze mediation effects.FindingsMarketing management as a strategic resource or capability accounts for the relationship between online presence and product innovation performance in SMEs, meaning that online presence resources require complementary organizational capabilities in marketing management to enhance product innovation.Originality/valueThis study, grounded in the resource-based view theory, contributes to the innovation field by identifying marketing management capabilities as an intermediate strategic interaction between online presence and product innovation performance in SMEs. Thus, managers should recognize the advantages of integrating marketing management principles and tactics into online presence tools to realize the value of their products by tailoring them to their client’s needs.
目的本研究探讨了营销管理在中小型企业(SMEs)在线存在与产品创新之间关系中的中介作用。采用普通回归模型的两阶段建模策略对数据进行分析,以分析中介效应。研究结果营销管理作为一种战略资源或能力,解释了中小企业在线存在与产品创新绩效之间的关系,这意味着在线存在资源需要营销管理方面的互补组织能力来增强产品创新。因此,管理者应认识到将营销管理原则和策略整合到在线展示工具中的优势,从而根据客户需求定制产品,实现产品价值。
{"title":"The mediating role of marketing management in the relationship between online presence and product innovation among SMEs","authors":"Allan Pérez-Orozco, J. Leiva, Ronald Mora-Esquivel","doi":"10.1108/jefas-04-2022-0087","DOIUrl":"https://doi.org/10.1108/jefas-04-2022-0087","url":null,"abstract":"PurposeThis study explores the mediating role of marketing management in the relationship between online presence and product innovation among Small and Medium Enterprises (SMEs).Design/methodology/approachThe sample comprises 205 Costa Rican SMEs collected by the Global Competitiveness Project during the first half of 2019. The data were analyzed using a two-stage modeling strategy for ordinary regression models to analyze mediation effects.FindingsMarketing management as a strategic resource or capability accounts for the relationship between online presence and product innovation performance in SMEs, meaning that online presence resources require complementary organizational capabilities in marketing management to enhance product innovation.Originality/valueThis study, grounded in the resource-based view theory, contributes to the innovation field by identifying marketing management capabilities as an intermediate strategic interaction between online presence and product innovation performance in SMEs. Thus, managers should recognize the advantages of integrating marketing management principles and tactics into online presence tools to realize the value of their products by tailoring them to their client’s needs.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140737231","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}
引用次数: 0
Financial technology and economic growth nexus in the East African community states 东非共同体国家的金融技术与经济增长关系
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-04-05 DOI: 10.1108/jefas-01-2022-0009
C. A. Ngong, Kesuh Jude Thaddeus, J. U. Onwumere
PurposeThis paper aims to examine the causation linking financial technology to economic growth in the East African Community states from 1997 to 2019.Design/methodology/approachAutoregressive distributed lag is used. Gross domestic product per capita proxies economic growth, automated teller machines, point of sale, debit card ownership and mobile banking measure financial technology.FindingsThe results unveil a significant relationship between financial technology and economic growth. The findings show bidirectional causality between automated teller machine and economic growth, with unidirectional causation from economic growth to point of sales and internet banking, mobile banking and government effectiveness to economic growth. The error correction term is negatively significant, demonstrating a long-term convergence between Fintech measures and economic growth.Research limitations/implicationsThe governments should effectively enact and implement policies that protect investments in financial technologies to boost economic growth in the East African Community countries. The government should reduce taxes on financial technology equipment and related services. The use of automated teller machine, debit card ownership and internet banking should be encouraged through cashless transactions. Financial institutions should adopt cashless operation policies to encourage the use of financial technologies.Originality/valueResearch results on the bond between financial technology and economic growth are not conclusive. These studies demonstrate that technological innovations are double edged-swords, with both positive and negative sides. The results are conflicting; some reveal positive relationships, while others show negative links. Hence, research is required to fill the lacuna.
目的本文旨在研究 1997 年至 2019 年东非共同体国家金融技术与经济增长之间的因果关系。人均国内生产总值代表经济增长,自动取款机、销售点、借记卡所有权和移动银行衡量金融技术。结果显示,自动取款机与经济增长之间存在双向因果关系,经济增长与销售点之间存在单向因果关系,网上银行、手机银行和政府效能与经济增长之间存在单向因果关系。误差修正项为负向显著,表明金融科技措施与经济增长之间存在长期趋同性。研究局限/启示各国政府应有效制定和实施保护金融科技投资的政策,以促进东非共同体国家的经济增长。政府应降低对金融技术设备和相关服务的税收。应通过无现金交易鼓励使用自动取款机、借记卡和网上银行。金融机构应采取无现金操作政策,鼓励使用金融技术。 原创性/价值有关金融技术与经济增长之间联系的研究结果并不具有结论性。这些研究表明,技术创新是一把双刃剑,既有积极的一面,也有消极的一面。研究结果是相互矛盾的:一些结果显示了积极的关系,而另一些结果则显示了消极的联系。因此,需要开展研究来填补这一空白。
{"title":"Financial technology and economic growth nexus in the East African community states","authors":"C. A. Ngong, Kesuh Jude Thaddeus, J. U. Onwumere","doi":"10.1108/jefas-01-2022-0009","DOIUrl":"https://doi.org/10.1108/jefas-01-2022-0009","url":null,"abstract":"PurposeThis paper aims to examine the causation linking financial technology to economic growth in the East African Community states from 1997 to 2019.Design/methodology/approachAutoregressive distributed lag is used. Gross domestic product per capita proxies economic growth, automated teller machines, point of sale, debit card ownership and mobile banking measure financial technology.FindingsThe results unveil a significant relationship between financial technology and economic growth. The findings show bidirectional causality between automated teller machine and economic growth, with unidirectional causation from economic growth to point of sales and internet banking, mobile banking and government effectiveness to economic growth. The error correction term is negatively significant, demonstrating a long-term convergence between Fintech measures and economic growth.Research limitations/implicationsThe governments should effectively enact and implement policies that protect investments in financial technologies to boost economic growth in the East African Community countries. The government should reduce taxes on financial technology equipment and related services. The use of automated teller machine, debit card ownership and internet banking should be encouraged through cashless transactions. Financial institutions should adopt cashless operation policies to encourage the use of financial technologies.Originality/valueResearch results on the bond between financial technology and economic growth are not conclusive. These studies demonstrate that technological innovations are double edged-swords, with both positive and negative sides. The results are conflicting; some reveal positive relationships, while others show negative links. Hence, research is required to fill the lacuna.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140740635","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}
引用次数: 0
Editorial: 57th issue of the Journal of Economics, Finance and Administrative Science 编辑第 57 期《经济、金融和行政科学杂志
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-03-26 DOI: 10.1108/jefas-04-2024-335
Luis Chávez–Bedoya
{"title":"Editorial: 57th issue of the Journal of Economics, Finance and Administrative Science","authors":"Luis Chávez–Bedoya","doi":"10.1108/jefas-04-2024-335","DOIUrl":"https://doi.org/10.1108/jefas-04-2024-335","url":null,"abstract":"","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140380338","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}
引用次数: 0
Evolution of trade and productive integration in Latin America, 1995–2015: an input-output analysis 1995-2015 年拉丁美洲贸易和生产一体化的演变:投入产出分析
IF 2.4 Q1 Economics, Econometrics and Finance Pub Date : 2024-03-20 DOI: 10.1108/jefas-09-2022-0202
Raúl Vázquez-López
PurposeThe main goal of this paper is to examine the evolution of Latin American productive integration in terms of the regional value added incorporated in intra-regional exports of Argentina, Brazil, Chile, Colombia, Mexico and Peru. In addition, the study traces the trade and productive integration trajectories for each of these countries from 1995 to 2015.Design/methodology/approachBased on the use of OECD’s global ICIO input-output tables, this paper applies the methodological framework by Wang et al. (2018) for the analysis of trade flows at the bilateral level, which allows breaking down the value of gross exports of each sector-country, depending on the origin of the value added contained in exports, as well as their use.FindingsThe estimates show very low shares of value added from regional partners in the intra-regional exports of the countries studied. Conversely, the weight of the value added incorporated in these exports by countries outside the region has increased in tandem with China’s expanding involvement in Latin America. This development, along with the downward trend in domestic value added incorporated in exports, indicates a lack of a regional integration process of any depth.Originality/valueThis article addresses an economic problem of conventional importance from a global value chain perspective using a novel methodology based on the use of global input–output tables.
目的本文的主要目的是从阿根廷、巴西、智利、哥伦比亚、墨西哥和秘鲁的区域内出口所包含的区域附加值的角度来研究拉丁美洲生产一体化的演变。此外,本研究还追溯了 1995 年至 2015 年期间这些国家各自的贸易和生产一体化轨迹。设计/方法/途径本文在使用经合组织全球 ICIO 投入产出表的基础上,运用 Wang 等人(2018)的方法框架,对拉丁美洲的贸易和生产一体化进行了分析。(结果估算结果显示,在所研究国家的区域内出口中,来自区域合作伙伴的附加值所占份额非常低。相反,随着中国在拉美的参与不断扩大,区域外国家在这些出口产品中所占的附加值比重也在增加。这一发展,以及出口所含国内附加值的下降趋势,表明缺乏任何深度的区域一体化进程。 原创性/价值 本文采用基于全球投入产出表的新方法,从全球价值链的角度探讨了一个具有传统重要性的经济问题。
{"title":"Evolution of trade and productive integration in Latin America, 1995–2015: an input-output analysis","authors":"Raúl Vázquez-López","doi":"10.1108/jefas-09-2022-0202","DOIUrl":"https://doi.org/10.1108/jefas-09-2022-0202","url":null,"abstract":"PurposeThe main goal of this paper is to examine the evolution of Latin American productive integration in terms of the regional value added incorporated in intra-regional exports of Argentina, Brazil, Chile, Colombia, Mexico and Peru. In addition, the study traces the trade and productive integration trajectories for each of these countries from 1995 to 2015.Design/methodology/approachBased on the use of OECD’s global ICIO input-output tables, this paper applies the methodological framework by Wang et al. (2018) for the analysis of trade flows at the bilateral level, which allows breaking down the value of gross exports of each sector-country, depending on the origin of the value added contained in exports, as well as their use.FindingsThe estimates show very low shares of value added from regional partners in the intra-regional exports of the countries studied. Conversely, the weight of the value added incorporated in these exports by countries outside the region has increased in tandem with China’s expanding involvement in Latin America. This development, along with the downward trend in domestic value added incorporated in exports, indicates a lack of a regional integration process of any depth.Originality/valueThis article addresses an economic problem of conventional importance from a global value chain perspective using a novel methodology based on the use of global input–output tables.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140224973","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}
引用次数: 0
期刊
Journal of Economics, Finance and Administrative Science
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.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1