Evidence from an emerging market

The purpose of paper "Does corporate culture affect investment efficiency? Evidence from an emerging market" is to test whether corporate culture can ameliorate the level of firm investment efficiency by eliminate over and under-investment activities of managers in an emerging market.

19p nhanchienthien 25-07-2023 5 5   Download

The rationale for this study is that the social enterprise sector provides an important locale in which to situate research that aims to identify the impact of ICTs on development. Recognising the complex dynamics and range of actors involved in this diverse and emerging area of development practice, this study chooses to focus on the social enterprise sector. It is specifically concerned with mapping the external influences, use and impact of ICT on social enterprises in Cambodia.

228p runthenight04 02-02-2023 4 1   Download

It also reveals that, compared to non-group firms, group firms with greater connectedness of independent directors face more limited access to external finance. Our results survive extensive robustness checks and provide a negative counterpoint to the positive correlation between independent board busyness and corporate performance.

18p vijihyo2711 25-09-2021 7 1   Download

Floriculture is gaining an emerging business in India and has attained popularity among the stake holders which is evident from the data w.r.t area and production during the last fifteen years. During 2018-19 total area under floriculture in India was 313 thousand ha and in Himachal Pradesh it was 629.29 ha (NHB, 2019). The Govt. of India as well as HP has launched a large number of schemes to promote protected cultivation of various flower crops including carnation.

6p caygaocaolon11 21-04-2021 17 2   Download

In this study, we examine how ownership structure affects the use of independent directors in Vietnam – an emerging stock market. With a sample of 1,318 observations collected from 192 listed firms over the period from 2008 to 2017, we find that insider ownership and independent director appointment have a U-shaped relationship. It is positive when insiders hold a small proportion of shares, and turns out to be negative when insiders hold a large percentage of shares.

8p trinhthamhodang9 10-12-2020 12 0   Download

With a full sample of 1,281 observations collected from 193 firms listed in Ho Chi Minh Stock Exchange during the period from 2009 to 2017, the author find that the proportion of independent directors is negatively related to firm investment but its interactive term with Tobin’s Q is positively related to corporate investment. These findings imply that independent directors can help firms reduce overinvestment and improve investment efficiency. Moreover, the research findings indicate that these effects of independent directors are stronger for financially constrained firms.

12p caygaocaolon5 19-05-2020 18 0   Download

This study aims to provide an empirical analysis of the return-volume and volatility-volume linkages, using both market- and sector-level data from the emerging equity market of Qatar. The OLS and VAR modelling approaches are employed to explore the contemporaneous and dynamic relations, respectively, between index returns and trading volume, while the volatility-volume relation is examined using an EGARCH-X(1,1) model. The results suggest a positive contemporaneous return-volume relation across almost all sectors, and this relation is found to be asymmetric.

23p trinhthamhodang2 21-01-2020 26 2   Download

This paper examines the effects of time to maturity, volume and open interest on the price volatility of futures contracts in Turkish derivative markets. The determinant of volatility is tested using conditional variance models during the period from January 2, 2008 to June 30, 2015. The sample set consists of 457 futures contracts backed by gold, currency, indices and single stocks. Empirical results show that the time to maturity, volume and open interest significantly impact the volatility of futures contracts. It is found that as the maturity date approaches, volatility increases.

13p trinhthamhodang2 21-01-2020 21 1   Download

The Nigerian economy in the last two decades up until 2013 has been growing at an average of 6% and yet unemployment was equally growing in the region of 20% within the same period. This paradoxical situation has led to a flurry of studies and postulations aimed at providing explanation and solution to the phenomenon. This study making use of a regression model with annual data from 1980 to 2013, empirically determined the impact of public sector expenditures (CEXP and REXP) together with private sector investment (PINV) on unemployment (UNEMP) in Nigeria.

9p chauchaungayxua2 09-01-2020 30 1   Download

We study the impact of price bands in the Indian capital markets and following the methodology of Kim and Rhee (1997) we do not find evidence in support of the volatility spillover hypothesis. Our evidence suggests that price limits does not hinder the price discovery process and may play an important role in reducing the volatility of stock prices in the emerging markets like India.

5p vimadrid2711 18-12-2019 24 0   Download

This thesis is organised into seven chapters. Chapter One presents a general introduction to the study. This provides an overview of the thesis, including the background and motivation for the study, its main objectives, promising contributions, the methodology and the structure of the thesis. Chapter Two critically reviews the literature on mutual fund performance. The chapter begins with the performance measures proposed in the literature, together with empirical results for developed markets.

41p khanhchilam 29-03-2013 57 7   Download

The automobile company offers both stocks and bonds. With the bonds, the company agrees to pay you back your initial investment in ten years, plus pay you interest twice a year at the rate of 8% a year. If you buy the stock, you take on the risk of potentially los- ing a portion or all of your initial investment if the company does poorly or the stock market drops in value. But you also may see the stock increase in value beyond what you could earn from the bonds. If you buy the stock, you become an “owner” of the company. You...

38p machuavo 19-01-2013 52 3   Download

This is because the evidence is clear that open trade and investment, underpinned by an effective framework of rules, delivers the best results for both developed and developing countries. It is good economics. And it has been the UK’s own experience too: increased trade with Europe since the early 1980s has added almost £3,300 a year to the net income of the average British household. The fastest growing emerging economies are now creating new opportunities for all to benefit further from trade and investment.

32p quaivattim 01-12-2012 46 6   Download