Articles
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Citation: Financial Innovation 2018 4:31
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Timing the market: the economic value of price extremes
By decomposing asset returns into potential maximum gain (PMG) and potential maximum loss (PML) with price extremes, this study empirically investigated the relationships between PMG and PML. We found signific...
Citation: Financial Innovation 2018 4:30 -
Factors influencing the internet banking adoption decision in North Cyprus: an evidence from the partial least square approach of the structural equation modeling
This paper aims to examine how the adoption decision of the internet banking in North Cyprus would be affected based on the following dimensions; the technology features, the personal characteristics, the soci...
Citation: Financial Innovation 2018 4:29 -
Household behavior in practicing mental budgeting based on the theory of planned behavior
Ajzen’s theory of planned behavior (TPB) suggests that planned behavior is determined by behavioral intention. Despite extensive literature based on TPB, household mental budgeting behavior explained by TPB is...
Citation: Financial Innovation 2018 4:28 -
Credit margin of investment in the agricultural sector and credit fungibility: the case of smallholders of district Shikarpur, Sindh, Pakistan
This study examines the access to credit, credit investment, and credit fungibility for small-holder farmers and medium- and large-scale farmers in the agricultural sector of the Shikarpur District of Sindh, P...
Citation: Financial Innovation 2018 4:27 -
Determinants of foreign direct investment in fast-growing economies: evidence from the BRICS and MINT countries
The flow of foreign direct investment (FDI) into a country can benefit both the investing entity and host government. This study employed panel analysis to examine the factors that determine the direction of F...
Citation: Financial Innovation 2018 4:26 -
Estimating the effects of financial access on poor farmers in rural northern Nigeria
By recognizing the gap in the literature in examining the effects of financial resources and development outcomes at the household level, this paper examines whether the poorest income quintile would benefit m...
Citation: Financial Innovation 2018 4:25 -
Forecasting risk using auto regressive integrated moving average approach: an evidence from S&P BSE Sensex
The primary objective of the paper is to forecast the beta values of companies listed on Sensex, Bombay Stock Exchange (BSE). The BSE Sensex constitutes 30 top most companies listed which are popularly known a...
Citation: Financial Innovation 2018 4:24 -
The ASEAN experience of the purchasing power parity theory
We used panel data analysis to evaluate the relative purchasing power parity (PPP) hypothesis of the ten ASEAN member countries between 1973 and 2015. We incorporated the cross-sectionally augmented panel unit...
Citation: Financial Innovation 2018 4:23 -
Editor’s introduction
Citation: Financial Innovation 2018 4:22 -
Estimating stock closing indices using a GA-weighted condensed polynomial neural network
Accurate forecasting of changes in stock market indices can provide financial managers and individual investors with strategically valuable information. However, predicting the closing prices of stock indices ...
Citation: Financial Innovation 2018 4:21 -
Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches
This study examined the relationship between financial innovation and economic growth in Bangladesh, India, Pakistan, and Sri Lanka for the period Q1 1975 to Q4 2016. The autoregressive distributed lag (ARDL) ...
Citation: Financial Innovation 2018 4:20 -
Modelling trust evolution within small business lending relationships
Trust is a key dimension in the principal-agent relationship and it has been studied extensively. However, the dynamics, evolution, and intrinsic motivation and mechanisms have received less attention. This pa...
Citation: Financial Innovation 2018 4:19 -
Beta through the prism of wavelets
In this paper, we empirically show how wavelet decomposition can provide an easy vehicle to study the systematic risk properties of return series to serve as protocol for different traders who view the market ...
Citation: Financial Innovation 2018 4:18 -
Editor’s introduction
Citation: Financial Innovation 2018 4:17 -
Herding behavior in Ramadan and financial crises: the case of the Pakistani stock market
This study examines herding behavior in the Pakistani Stock Market under different market conditions, focusing on the Ramadan effect and Crisis period by using data from 2004 to 2014. Two regression models of ...
Citation: Financial Innovation 2018 4:16 -
Financial frictions and the cash flow – external financing sensitivity: evidence from a panel of Pakistani firms
This paper uses a large panel of Pakistani non-financial firms over the period 2000–2013 to examine the role of financial constraints in establishing the relationship between cash flow and external financing. ...
Citation: Financial Innovation 2018 4:15 -
Is money going digital? An alternative perspective on the current hype
Current financial discourse suggests the imminence of a cashless society, a concept that arose from the global popularization of digital financial services and the development of technologies with the potentia...
Citation: Financial Innovation 2018 4:14 -
Impact of global financial crunch on financially innovative microfinance institutions in South Asia
The wave of global financial crises (2008–2009) caused a surge in the capital flows of developed countries particularly, between developed and developing countries. The crunch hit all financial sectors with un...
Citation: Financial Innovation 2018 4:13 -
Does financial depth impact economic growth in North Cyprus?
This study purpose is to connect the proxy of financial development which is total banking sector’s deposits with the economic growth in North Cyprus. The reason for using the total deposit differently with th...
Citation: Financial Innovation 2018 4:12 -
Climate change and financing adaptation by farmers in northern Nigeria
This paper examines farmers’ perceptions of their exposure to climate change in rural northern Nigeria. It also examines whether there is a significant relationship between the exposure of farmers to climate c...
Citation: Financial Innovation 2018 4:11 -
Value-at-risk under ambiguity aversion
This study explored the effects of ambiguity on the calculation of Value-at-Risk (VaR) using a mathematical model based on the theory of Choquet-Brownian processes. It was found that while a moderate degree of...
Citation: Financial Innovation 2018 4:10 -
Editor’s introduction
Citation: Financial Innovation 2018 4:9 -
Brent prices and oil stock behaviors: evidence from Nigerian listed oil stocks
Given the shale oil glut that culminated in the most recent and continuing oil price drop from June 2014 and the global financial crisis of 2008 that triggered a cyclical downturn in oil prices and stock marke...
Citation: Financial Innovation 2018 4:8 -
Forecasting investment and consumption behavior of economic agents through dynamic computable general equilibrium model
Much research has been devoted to examination of the financial easing policy of the European Central Bank (ECB). However, this study is one of the first to use a dynamic micro-founded model to investigate empi...
Citation: Financial Innovation 2018 4:7 -
Financial constraints and investment decisions of listed Indian manufacturing firms
The purpose of the study is to understand the role of cash flow sensitivity to investment as a measure of financial constraints among listed Indian manufacturing firms. It also analyses the role of tangibility...
Citation: Financial Innovation 2018 4:6 -
Has expansion of mobile phone and internet use spurred financial inclusion in the SAARC countries?
Exclusion from the mainstream financial world is a burden on the poor of many countries. The proliferation of new mobile and online financial services, such as e-banking, money transfers, and payment processin...
Citation: Financial Innovation 2018 4:5 -
Can we have a general theory of financial innovation processes? A conceptual review
Since the financial crisis of 2008, the theory of financial innovation has been a focus at a time of re-evaluation and re-conceptualization. However, little has been done to evaluate the current state of resea...
Citation: Financial Innovation 2018 4:4 -
Examination of the profitability of technical analysis based on moving average strategies in BRICS
In this paper, we investigated the profitability of technical analysis as applied to the stock markets of the BRICS member nations. In addition, we searched for evidence that technical analysis and fundamental...
Citation: Financial Innovation 2018 4:3 -
Sustainable strategy for corporate governance based on the sentiment analysis of financial reports with CSR
Focusing only on shareholders’ financial return is not consistent with the concept of sustainable corporate governance. In contrast to financial performance, corporate social responsibility (CSR) is a non-fina...
Citation: Financial Innovation 2018 4:2 -
BM(book-to-market ratio) factor: medium-term momentum and long-term reversal
To explain medium-term momentum and long-term reversal, we use the difference between the optional model and the CAPM model to construct a winner-loser portfolio. According to the CAPM model’s zero explanatory...
Citation: Financial Innovation 2018 4:1 -
Value investing or investing in illiquidity? The profitability of contrarian investment strategies, revisited
We investigate whether the success of contrarian investment strategies can be attributed to differences in the relative illiquidity of stocks categorized as value investments versus those categorized as glamo...
Citation: Financial Innovation 2017 3:34 -
Editor’s Introduction
Citation: Financial Innovation 2017 3:33 -
Teaching programming skills to finance students: how to design and teach a great course
A motivated finance-major student should master at least one programming language. This is especially true for students from quantitative finance, business analytics, those attending a Master of Science in Fin...
Citation: Financial Innovation 2017 3:32 -
Editor’s introduction
Citation: Financial Innovation 2017 3:31 -
Day-of-the-week returns and mood: an exterior template approach
Rule- and template-based pattern-recognition methods are alternative ways to identify various patterns in stock prices alongside more traditional econometric tools. In this study, we generate an exterior templ...
Citation: Financial Innovation 2017 3:30 -
The evolution and cross-section of the day-of-the-week effect
We study the day-of-the-week effect across size deciles and in three 18-year subperiods. The results show a decline in the magnitude of the day-of-the-week effect, but the effect did not vanish. We find that t...
Citation: Financial Innovation 2017 3:29 -
Optimal stopping investment in a logarithmic utility-based portfolio selection problem
In this paper, we study the right time for an investor to stop the investment over a given investment horizon so as to obtain as close to the highest possible wealth as possible, according to a Logarithmic uti...
Citation: Financial Innovation 2017 3:28 -
Influence of meditation on estate planning decisions: evidence from Indian survey data
Intestate death can lead to the distribution of assets against the personal wishes of the deceased and is a problem in India, as 80% of Indians die without making a last will. Following the concepts of decisio...
Citation: Financial Innovation 2017 3:27 -
The impact of FinTech start-ups on incumbent retail banks’ share prices
This study aims to clarify the role of FinTech digital banking start-ups in the financial industry. We examine the impact of the funding of such start-ups on the stock returns of 47 incumbent US retail banks f...
Citation: Financial Innovation 2017 3:26 -
Financial sector development and economic growth: evidence from Cameroon
For decades, African economies have embarked on financial sector reforms. However, the empirical implications of these reforms have been divergent. This paper investigates the impact of financial development o...
Citation: Financial Innovation 2017 3:25 -
Performance evaluation of series and parallel strategies for financial time series forecasting
Improving financial time series forecasting is one of the most challenging and vital issues facing numerous financial analysts and decision makers. Given its direct impact on related decisions, various attempt...
Citation: Financial Innovation 2017 3:24 -
Monetary and fiscal factors in nominal interest rate variations in Sri Lanka under a deregulated regime
This paper examines the role of monetary and fiscal factors in interest rate variations in Sri Lanka under its deregulated regime of interest rates. In addition the paper also examines the role of monetary fac...
Citation: Financial Innovation 2017 3:23 -
Diversification, bank performance and risk: have Tunisian banks adopted the new business model?
The objective of this paper is threefold. First, we test the most important factors that determine the level of non-interest income for Tunisian banks. Second, we study the impact of non-interest income on ban...
Citation: Financial Innovation 2017 3:22 -
Determinants of loan repayment among agricultural microcredit finance group members in Delta state, Nigeria
This study examined the determinants of loan repayment among microcredit finance group members in Delta State, Nigeria.
Citation: Financial Innovation 2017 3:21 -
Derived signals for S & P CNX nifty index futures
The financial futures market in India is relatively new. The major advantage of derivatives as financial products is that their use minimizes the risks associated with securities. However, hedging effectivenes...
Citation: Financial Innovation 2017 3:20 -
Financial innovation and economic growth in Bangladesh
This study provides evidence for the financial innovation in the financial system that resulted in the economic growth of Bangladesh from 1980-2016.
Citation: Financial Innovation 2017 3:19 -
Modeling and forecasting exchange rate volatility in Bangladesh using GARCH models: a comparison based on normal and Student’s t-error distribution
Modeling exchange rate volatility has remained crucially important because of its diverse implications. This study aimed to address the issue of error distribution assumption in modeling and forecasting exchan...
Citation: Financial Innovation 2017 3:18 -
Insurance market density and economic growth in Eurozone countries: the granger causality approach
This study examines the relationship between insurance market density (IMD) and economic growth.
Citation: Financial Innovation 2017 3:17 -
Editor’s Introduction
Citation: Financial Innovation 2017 3:16
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- ISSN: 2199-4730 (electronic)