Emerging economies have faced new challenges and opportunities in banking and finance in the post-crisis era under increasing uncertainty. This edited volume of International Finance Review contains original papers that examine rising challenges facing emerging financial markets and institutions. It
covers issues such as global banking, risk and contagion, stock market behaviour, global financing for firms, and financial inclusion in the major emerging economies.
Particular emphasis on banking is given to the impact of foreign banks on lending by domestic banks, bank loan pricing behaviour with corporate default risk, determinants of nonperforming loans and their macrofinancial implications, foreign bank activities of emerging market entry, international
financial shock transmission through the foreign bank lending channel via internal capital markets, and spillover effects of global monetary shocks from an advanced to an emerging economy. Additional emphasis on stock market behaviour and financing is given to emerging stock markets under policy
uncertainty from advanced economies, extended multifactor models for emerging stock markets, asymmetric volatility and herd behaviour in geopolitical crises, trade financing as an important cause of the recent trade collapse, determinants of capital structure, and social and financial inclusion in
the major emerging markets. This volume also provides significant insight and important policy implications for market participants, researchers, and policy makers in emerging market finance.
Entrepreneurship has long been recognized as a key socioeconomic activity that is essential for regional economic development. Entrepreneurship research in developing countries often uses macro level or meso level analyses of large surveys to examine institutional constraints and enablers of
entrepreneurial activities, which can mask fascinating insights on day to day practices.
This book reveals insider perspectives of the everyday struggles of Tanzanian and Zambian entrepreneurs by distinguishing institutional constraints and enablers, and sustainability practices as responses to those opportunities and barriers. The book contributes to existing literature by providing
entrepreneurs from sub-Saharan Africa the opportunity to illustrate how their institutional context influences their sustainability practices at the micro level. Written for scholars of Business and Entrepreneurship, this book showcases how entrepreneurs use creative and bricolage methods to
implement sustainability practices that contribute to social and environmental well-being.
Rita Biswas, Michael Michaelides, John W. Kensinger
This volume, dedicated to John W. Kensinger, explores a variety of topics in financial economics, including firm growth, investment risks, and the profitability of the banking industry. With its global perspective, Essays in Financial Economics is a valuable addition to the bookshelf of any
researcher in finance.
Starting with a study examining the NYMEX Crude oil market, the first paper uses a no-arbitrage futures equilibrium cost-of-carry model that incorporates both the quality delivery option as well as the timing delivery option in the NYMEX contract. This is followed by two papers focusing on the
growth of firms, one looking at a sample of S&P 500 firms in the US and one utilising a sample of firms from India’s manufacturing sector.
The fourth paper compares the Fama-French (FF) five-factor model for firms on the Paris Bourse with the four-factor model, exploring how the fifth factor, investment risk premium, benefits the French stock market in comparison with the profitability factor (the fourth factor). The fifth paper
examines the volatility of the Indian stock market, while the sixth looks at the Italian banking industry. Closing the volume is a paper that looks at the relationship between the US Dollar Index and several emerging stock market indices using Granger Causality tests.
Financial Derivatives have long been the subject of conflicting views. For some, they are a useful instrument, too often maligned by those who do not understand them; for others, they are a complete waste of time and money. But which is it? Should we embrace financial derivatives, or fear
In Financial Derivatives: A Blessing or a Curse? Simon Grima and Eleftherios I. Thalassinos rigorously explore the theory and debates surrounding this controversial topic. First exploring the perceived problems and the uses of derivatives, they study and evaluate the people who use financial
derivatives; the impacts of derivatives use; and examples of safe use of derivatives. Looking at real-world examples, Grima and Thalassinos include public case studies on financial firms such as Barings Bank PLC, Allied Irish Bank, and Société Générale, as well as
non-financial firms including Metallgesellschaft AG and Enron. Through these case studies, the roots of firm failure and large losses become clear, asking whether it is the misuse of this financial instrument, rather than the derivatives instrument itself, that is the cause.
For students and researchers in finance, or practitioners involved in trading, regulating, or auditing, this is a fundamental text exploring a controversial and relevant concept.
Several studies have shown that financial inclusion impacts poverty and income inequality and higher levels of financial inclusion lead to lower poverty and income inequality and promotes inclusive economic growth.
However, the gender gap in access and usage of financial services remains pervasive across all the countries in South Asia. Patriarchal societies, low involvement of women in decision making, low empowerment of women, no voice in the family matters are some of the factors influencing
women’s financial access in the region. Although literature has developed on access to financial services in general, there is not much academic work available on access to digital financial services for women.
Gender Bias and Digital Financial Services in South Asia: Obstacles and Opportunities on the Road to Equal Access examines access to financial services to women in general in South Asia and specifically their access to digital financial services.
The modern marketplace is increasingly unpredictable and there is an ever-greater need for non-financial managers to understand the financial and management accounting process.How to Understand Business Finance is part of the bestselling Creating Success series published in association with the
Sunday Times, which has been translated into 25 languages with over 500, 000 copies sold. This book is written for those managing a business in a real market. It provides a quick and effective course in financial literacy, aimed at the pursuit of business growth, in the context of the journey of a
business from initial set-up through its first year of trading.As well as learning how to understand balance sheets and profit and loss accounts, readers will also learn the principles of: market dynamics; budgeting and forecasting; fixed and variable costs; break-even analysis; the difference
between profit and cash; financial ratios for measuring business performance; investment appraisal; stock market ratios; shareholder value; financial measures for improving business performance, and much more.How to Understand Business Finance helps you to understand double entry bookkeeping, supply
chain management, the difference in American and British accounting terminology, financial ratios for measuring business performance, common acronyms, and the real cash flow implications of working capital.
Islamic finance has emerged as an alternative to century-old conventional financial instruments to cater to cater to the needs of Muslims as well as non-Muslims. The industry has seen significant growth over the last two decades and has been facing omnidirectional challenges with respect to
regulation, competition, and compatibility. These challenges have presented worthy debate on the principles, practices, and performance in Islamic finance globally. In this issue, we have presented issues relevant to the most recent debate on the performance, practices, and principles of the Islamic
finance industry as a whole, covering eleven distinct issues. Authors have contributed to the existing body of knowledge on risk management in Islamic banks, diversification in Islamic equity markets, performance and acceptance of Islamic microcredit and Islamic banking services, long-term corporate
finance using sukuk, and the social development agenda via the development of financial intuitions, SME financing, and financial inclusion. Selected topics cover the principles in relevant areas, focus on recent practices, and highlight performance on certain influential areas. The issue is aimed at
academicians, researchers, and policymakers who are working in the Islamic finance industry and who would like to explore more.
When you think about investing, what words come to mind? Overwhelming? Intimidating? Scary?
Investors face a vast array of investment options vying for their business. They are aware that some of those providing these "opportunities" seek to take advantage of them. And although most investors realize they are fallible, they often have no clear idea why or what they can do about it. So what
chance do less savvy investors have navigating the investment minefield and emerging unscathed?
The answer is not much-unless they recognize the pitfalls along the way. In this book, H. Kent Baker and Vesa Puttonen show new investors how to avoid rash financial decisions and basic investing sins. They help them to recognize and avoid common investing mistakes, behavioral biases, and traps that
can affect sound judgment and reduce wealth. Ultimately, they explain how to separate investment fads from time-tested investment principles-a task that is easier said than done, but that is well worth the effort.
Navigating the Investment Minefield is essential reading for novice investors, and it is of keen interest to more seasoned investors seeking a refresher course on the most basic, time-honored truths of wealth management.
In 1978, the citizens of California took the historic step of voting for
Proposition 13, thus reducing property taxes by 57%. Already known
as a trend setting state, California’s tax revolt was no different,
as similar tax revisions quickly spread across the United States of
America. In California, state and local governments struggled to find
a way to manage the loss in revenue. On many occasions budget
cuts were the solution. Library budgets were frequently the target of
Proposition 13 - America’s Second Great Tax Revolt details how
libraries prioritized, managed and reacted to hardships in this new
world, and have done so in California for the last forty years where
Proposition 13 is still the law. Library and information science
professionals were facing budget cuts that were as high as 65%
with little to no guarantee of what future budgets were to be. The
actions they took, and the rationale behind those actions, offer
significant lessons to be learned by the library community on both
an academic and practitioner level.
Exploring the intended and unintended consequences of
Proposition 13, this book provides an insightful understanding of
how to manage a library budget given a difficult funding situation. It
examines the thought processes behind government financing and
spending priorities, and considers how libraries can organize, and
participate in activism to influence decision makers.
The finance industry is currently going through a digital revolution, with new and developing technology transforming the world of banking and financial services beyond recognition. Banks and financial institutions worldwide recognize the pressing need to innovate to avoid disruption or displacement
by highly agile and often smaller fintech companies.
Reinventing Banking and Finance is an essential guide for finance professionals to current trends in fintech, innovation frameworks, the challenges of outsourcing or embedding innovation, and how to effectively collaborate with other organizations.
Beginning with the history and background of how banking got to the era of fintech, the book provides a thorough overview of the global fintech ecosystem and the drivers behind innovation in technologies, business models and distribution channels.
Examples of key institutions and interviews with innovators and experts shine a light on key financial innovation hubs in UK, US, China, Israel and more, and offer advice for institutions looking to choose the right market for their needs. Covering genuine innovations in AI, machine learning,
blockchain and digital identity, Reinventing Banking and Finance offers expert insight into navigating the complex and multi-layered finance industry.