The existence of financial intermediaries is arguably an artifact of information asymmetry. Beyond simple financial transactions, financial intermediation provides a mechanism for information transmission, which can reduce the degree of information asymmetry and consequently increase market...

This study investigates the dynamic relationship between intellectual capital (IC) and firm performance (FP) through system generalized methods of moments, when previous studies produced divergent results based on static OLS or fixed-effects estimations. Based on 571 listed firms in Australia...

Banks are more liquid, better capitalised, and more profitable in oil-dependent countries. However, bank credit to the private sector is relatively low as a percentage of GDP. The low level has been blamed, amongst other reasons, on governments' reliance on the banking sector to finance fiscal...

This study analyzes the efficiency of the banking industry in Ghana over the period of 2001-2010 using the data envelopment analysis. The study investigates the impact of size, capitalization, loan loss provision, inflation rate and GDP growth rate on Ghana's bank efficiency using both static...

We employ low-frequency data to estimate historical volatility measures for Hong Kong stocks and examine the relationship between these measures and the one-month ahead stock return over thirty-five years. First, we employ a stock's past three-year weekly return to compute idiosyncratic...

Asynchronous trading hours between the markets of Exchange-Traded Funds (ETFs) and their benchmarks not only make it difficult to apply a full replication strategy but also make the creation/redemption process ineffective and consequently distress the performance of international ETFs. Despite...

This paper provides evidence on the likelihood of formal finance usage among innovative small and medium enterprises (SMEs) operating in ASEAN countries. To this end, the SMEs are classified into four categories, namely non-innovators and product, process, and product-and-process innovator SMEs....

This study identifies determinants of customer loyalty to Islamic banking in Indonesia using a structural equation model (SEM) and confirmatory factor analysis (CFA). Data of 362 respondents from two cities of East Java Indonesia have been used to determine the factors of customer loyalty of...

This is the first study to use the self-organisation (Kohonen) map technique, an artificial neural network based on a non-supervised learning algorithm, to categorise Vietnamese banks into super-class groups. Drawing on unbalanced yearly data from 2008 to 2017, this study identifies two...

This paper explores the impacts of health pandemics on foreign direct investment (FDI) using the new world pandemic uncertainty index (WPUI). We investigate the effects of pandemics, including COVID-19, on FDI based on a sample of 142 economies and sub-samples (incomes and regions) from 1996 to...