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Article
Publication date: 24 July 2009

Joe Pagano

The purpose of this paper is to provide an introduction to the various web metrics tools that are available, and to indicate how these might be used in libraries.

828

Abstract

Purpose

The purpose of this paper is to provide an introduction to the various web metrics tools that are available, and to indicate how these might be used in libraries.

Design/methodology/approach

The paper describes ways in which web metrics can be used to inform strategic decision making in libraries.

Findings

A framework of possible web metrics is provided that can be adapted for use as appropriate in libraries.

Originality/value

The paper offers assistance to any web site manager in planning new developments, given limited resources.

Details

Program, vol. 43 no. 3
Type: Research Article
ISSN: 0033-0337

Keywords

Available. Content available
Article
Publication date: 24 July 2009

Lucy A. Tedd

487

Abstract

Details

Program, vol. 43 no. 3
Type: Research Article
ISSN: 0033-0337

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Article
Publication date: 4 May 2023

Chebangang Hyacinth, Chi Aloysius Ngong and Josaphat Uchechukwu Joe Onwumere

This research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022.

205

Abstract

Purpose

This research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022.

Design/methodology/approach

A series of preliminary tests are conducted before using the two-stage estimated generalized least squares and robust least squares methods for the analysis. Two indices are constructed to measure financial development: one for the banking sector indicators and another for the market-based indicators (Ustarz and Fanta, 2021).

Findings

The results indicate that the banking sector index significantly impacts the gross domestic product (GDP) per capita positively. The market sector index has a negatively significant effect on the GDP per capita. Government expenditure has a positive impact on the GDP per capita.

Research limitations/implications

Policymakers in sub-Saharan Africa should improve and implement finance–growth inclusive strategies that promote financial reforms and development to efficiently impact all population sectors. Policymakers should take stringent measures to ensure that the banking sector's development is sustainable to lead economic growth. The governments should strategize and promote capital market development using favorable listing rules for companies in the stock markets. Global stock market integration should be encouraged to diversify risks, increase public awareness, raise investors' confidence level and reduce stock market impediments like high taxes and regulatory barriers.

Originality/value

Previous study findings on the financial development and economic growth nexus are inconclusive and debatable. This study employs the financial development index approach.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

Keywords

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Book part
Publication date: 1 November 2008

Raj Aggarwal, Jongmoo Jay Choi and Sandra Dow

Effective mechanisms for corporate governance are essential for market-based economic systems. This chapter addresses the necessity of corporate governance research to address the…

Abstract

Effective mechanisms for corporate governance are essential for market-based economic systems. This chapter addresses the necessity of corporate governance research to address the competing goals of various stakeholders in the firm: managers, suppliers of financial capital, and other stakeholders. The review of literature reveals that firm-level complexity, as well as diversity of national business systems, are important for understanding corporate governance practices and regulations around the world.

Details

Institutional Approach to Global Corporate Governance: Business Systems and Beyond
Type: Book
ISBN: 978-1-84855-320-0

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Book part
Publication date: 17 January 2023

Marc Steffen Rapp and Iuliia A. Udoieva

We examine a large sample of some 100 economies worldwide to study the impact of financial sector size expansion on labor market performance. Simple linear dynamic panel data…

Abstract

We examine a large sample of some 100 economies worldwide to study the impact of financial sector size expansion on labor market performance. Simple linear dynamic panel data models inspired by the well-developed finance-growth literature suggest that (on average) a larger financial sector is beneficial for the labor market as it reduces unemployment rates. However, estimating country- and period-specific benchmark levels of financial sector size, we document that the relative contribution of finance vanishes with excessive levels of finance, and excessive levels of credit may actually be detrimental to employment. These non-linearities in the finance-unemployment nexus are more pronounced within developed economies. Overall, our study sheds new light on the ongoing controversy about the impact of the financial sector on societal well-being and highlights the importance of monitoring the expansion of the financial sector, in particular when it comes to credit markets.

Details

Fintech, Pandemic, and the Financial System: Challenges and Opportunities
Type: Book
ISBN: 978-1-80262-947-7

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Article
Publication date: 1 March 2011

Josephine M. LaPlante and Beth Walter Honadle

In this introductory essay, the authors describe a new public finance characterized by enduring revenue constraints; mounting budgetary claims from accruing liabilities for…

20

Abstract

In this introductory essay, the authors describe a new public finance characterized by enduring revenue constraints; mounting budgetary claims from accruing liabilities for post-retirement benefits for government employees, rising health care costs, and an aging population; and uncertainty about future budgetary demands and resource limitations. The new public finance is described as a convergence of economic and demographic forces with past practices that increased the fiscal vulnerability of states and local governments. The authors explain that states and local governments will not overcome challenges by relying upon traditional ways of thinking about and conducting business but instead must revamp frameworks for practice. Symposium papers are described as tackling several of the most pressing issues facing governments today with an eye towards rethinking customary approaches.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 23 no. 2
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 19 February 2025

Viput Ongsakul, Pattanaporn Chatjuthamard, Pandej Chintrakarn and Pornsit Jiraporn

This study investigates how firm-specific exposure to COVID-19 influences capital structure choices, a topic of significant importance due to the pandemic’s unprecedented economic…

0

Abstract

Purpose

This study investigates how firm-specific exposure to COVID-19 influences capital structure choices, a topic of significant importance due to the pandemic’s unprecedented economic disruption. We leverage a novel text-based measure of firm-specific COVID exposure to explore these dynamics.

Design/methodology/approach

Our research adopts an innovative text-based approach to measure firm-specific COVID exposure, developed by prior studies, which analyzes earnings conference call transcripts using advanced machine learning algorithms. The analysis is based on a comprehensive sample of US firms spanning over 20 years. Various statistical techniques, including firm-fixed effects, propensity score matching, entropy balancing and instrumental-variable analysis, are employed to ensure robust results.

Findings

Our findings indicate that firms with higher COVID exposure significantly alter their leverage, favoring debt financing over equity financing. This effect is less pronounced in larger and more profitable firms as well as those more vulnerable to climate change risk. The unique impact of COVID on leverage is contrasted with other infectious diseases, which do not exhibit similar effects.

Originality/value

Our study’s originality lies in its application of a novel text-based metric, borrowed from existing research, to measure firm-specific COVID exposure, marking a significant advancement in the field. This method provides a timely and precise assessment of exposure, offering insights that traditional metrics cannot capture. It is the first study to document the significant role of COVID exposure in determining corporate leverage, enhancing the understanding of capital structure dynamics in the context of unprecedented global disruptions.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 1 March 2016

Daniel Hummel

There have been many innovations in public finance in the 21st century to address increasing budget constraints and increasing demands from government. One innovation has been…

234

Abstract

There have been many innovations in public finance in the 21st century to address increasing budget constraints and increasing demands from government. One innovation has been civic crowd-funding which began in 2009. This is predicated on the voluntary commitment of funds by individual and institutional donors and investors for specific projects. This paper explores this new approach to funding capital projects and grounds it within a discussion of the Voluntary Theory of Public Finance. There is a lack of research on civic crowd-funding and a lack of theoretical approaches to it. This paper draws these connections and develops future directions of research that includes the continuing application of this approach, the increasing engagement of citizens in the administrative process of government and increasing budget constraints.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 28 no. 2
Type: Research Article
ISSN: 1096-3367

Available. Content available
Book part
Publication date: 10 September 2018

Nikos Smyrnaios

Abstract

Details

Internet Oligopoly
Type: Book
ISBN: 978-1-78769-197-1

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Article
Publication date: 10 October 2016

Van Le

The purpose of this paper is to examine the effect of short-sale restrictions (SSR) with particular emphasis on their impact on the liquidity and informed trading in the stock and…

358

Abstract

Purpose

The purpose of this paper is to examine the effect of short-sale restrictions (SSR) with particular emphasis on their impact on the liquidity and informed trading in the stock and option markets.

Design/methodology/approach

Using a panel regression with controls for volatility, VIX and matched stocks, this study examines the effect of the short-sale ban (SSB) on stock and option liquidity, expressed in terms of spread and volume. In addition, the PIN and option information share (OIS) measures have been used to analyze its impact on informed trading in those related markets.

Findings

The results suggest that the SSB leads to a significant reduction in the liquidity of the affected stocks and their options. However, no significant change in the trader composition can be detected. This result is consistent to the short-prohibition effect predicted by Diamond and Verrecchia (1987).

Research limitations/implications

Due to the sizeable data required to estimate the PIN and OIS measures, only a select sample of optionable stocks has been examined.

Originality/value

This study offers both academics and policy makers some useful insights into the effect of SSR on trading activities in both stock and option markets. From a policy perspective, it clearly demonstrates that regulatory changes targeting a specific market also affect other related markets via the arbitrage link between them.

Details

International Journal of Managerial Finance, vol. 12 no. 5
Type: Research Article
ISSN: 1743-9132

Keywords

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