Search results for "emerging market"

Risk Taking by Banks in the Transition Countries

2007

The banking sectors of the transition countries have progressed remarkably in the last 15 years. In fact, banking in most transition countries has largely shaken off the traumas of the transition era. At the start of the 21st century banks in these countries look very much like banks elsewhere. That is, they are by no means problem free but they are struggling with the same issues as banks in other emerging market countries. There have been a surprisingly large number of studies that have told us about the performance of these banks but we know very little about their risk taking behaviour and how the banking environment influences it.

Future directions in international financial integration research - A crowdsourced perspective

2018

This paper is the result of a crowdsourced effort to surface perspectives on the present and future direction of international finance. The authors are researchers in financial economics who attended the INFINITI 2017 conference in the University of Valencia in June 2017 and who participated in the crowdsourcing via the Overleaf platform. This paper highlights the actual state of scientific knowledge in a multitude of fields in finance and proposes different directions for future research.

German Bank Lending During Emerging Market Crises: A Bank Level Analysis

2007

This paper studies German bank lending during the Asian and Russian crises, using a bank level data set, which has been compiled from credit data at the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the Asian crisis mainly by reallocating their portfolios among emerging markets. This behaviour is consistent with active portfolio management and does not necessarily indicate a spontaneous reaction to the Asian crisis. By contrast, the banks' behaviour during the Russian crisis is characterised by a general withdrawal from emerging markets. The use of micro data allo…

Holes in the Dike: the global savings glut, U.S. house prices and the long shadow of banking deregulation

2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2010. To obtain an ex ante measure of financial liberalization, we focus on the history of interstate-banking deregulation during the 1980s, i.e. prior to the large net capital inflows into the US from China and other emerging economies. Our results suggest a long shadow of deregulation: in states that opened their banking markets to out-of-state banks earlier, house prices were more sensitive to capital inflows. We provide evidence that global imbalances were a major positive funding sh…

Emerging Economies’ Institutional Quality and International Competitiveness: A PLS-SEM Approach

2021

The home country’s institutional framework determines the capacity to compete in the global arena. This paper discusses the linkage between institutional quality (IQ) and international competitiveness (IC). We measured institutions’ quality in emerging economies through the use of selected indicators between 2007–2017. To evaluate the proposed IQ constructs and their relationship with IC, we applied partial least squares – structural equation modeling (PLS-SEM) analysis. The model outcomes suggest that political and lack of systemic conditions have a significant and negative effect on international competitiveness, while science, technology, engineering and mathematics (STEM) resource condi…

Affordances and effects of introducing social media within eParticipation-Findings from government-initiated Indonesian project

2018

Brazil, Russia, and Turkey: How New Democracies Deal with International Models of Higher Education?

2019

The purpose of this chapter is to address the issue of national translations of international influences and trends in higher education systems, as well as resistance to such paradigms. Three emerging countries, that is, Brazil, Russia, and Turkey, with very different geographical and historical contexts, will be considered as case studies. As young democracies, their strong national sentiment can contradict external recommendations in terms of the management of higher education.

Effects of Carbon Emissions, Environmental Disclosures and CSR Assurance on Cost of Equity in Emerging Markets

2021

The objective of the paper is to empirically test the relation between carbon emissions, environmental disclosures, assurance of sustainability reports and firms&rsquo

International governance mode choice: Evidence from Brazilian franchisors

2021

Abstract The purpose of this article is to test a novel, integrative theory of governance mode selection in the context of international franchising from Brazil. Given the Brazilian emerging market context, we added and tested another variable in the model relating to environmental distance between the home (Brazil) and host countries. To test the theory, we employed two logistic regression models and representative data from the Brazilian Franchising Association in addition to the World Bank's Doing Business index, and the CEPII (Centre d'etudes prospectives et d'informations internationales). Findings show that three factors influence Brazilian franchisors' choices regarding international…

Liquidity Synchronization, Its Determinants and Outcomes under Economic Growth Volatility: Evidence from Emerging Asian Economies

2021

This study investigates the country-level determinants of liquidity synchronization and degrees of liquidity synchronization during economic growth volatility. As a non-diversifiable risk factor, liquidity co-movement shock spreads market-wide and thus disrupts the overall functioning of the financial market. Firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. Comprehensive analyses of liquidity synchronicity in emerging markets are limited. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study. Seven Asian emerging economies are selected from the MSCI emerg…