Index
Advances in Pacific Basin Business Economics and Finance
ISBN: 978-1-78743-410-3, eISBN: 978-1-78743-409-7
ISSN: 2514-4650
Publication date: 15 September 2017
This content is currently only available as a PDF
Citation
(2017), "Index", Advances in Pacific Basin Business Economics and Finance (Advances in Pacific Basin Business, Economics and Finance, Vol. 5), Emerald Publishing Limited, Leeds, pp. 203-212. https://doi.org/10.1108/S2514-465020170000001012
Publisher
:Emerald Publishing Limited
Copyright © 2017 Emerald Publishing Limited
INDEX
Abusive activities
, 7
Accounting fraud
, 103, 107, 117
Accounting profession, in China
, 104
Administrative burdens of proof
, 7
Administrative orders
, 4, 6
After-adjustment asset value
, 83
Agency-enforced balance-sheet restrictions
, 4
Allocation efficiency (AE)
, 177
Alternative capital standards
, 90–91
Alternative debt structures
, 97n10
American International Group (AIG)
, 3
bailout of
, 12
insolvency, roots of
, 7–10
profit and loss
, 9
subject to systemic-risk regulation
, 7
ARIMA process
, 48–49
AR Test
, 161–162
ASEAN + 2
, 191, 193–194
ASEAN + 3
, 192
Asia and Pacific region, IMF report on economic growth
, 190
Asian financial crisis
, 36
Asian markets
, 41–42, 68–69
Asset dynamics
, 80–81
Asset-liability (A/D) ratio
, 85
Asset-liability structure
, 85
Asset return, volatility of
, 86
Asset value adjustment mechanism
, 84
Asset value of bank
risk components
, 80
risk-neutralized
, 81
Audit market in China
average market share
, 102
empirical results
audit fees of auditors
, 113
market share of big4 vs. non-big4
, 111–112
financial independence
, 103
government intervention impact on
audit fees
, 106
audit market structure
, 105–106
incidence of accounting fraud
, 107
institutional background
, 104–105
logistic regression
results
, 116–118
testing
, 103
methodology to assess impact on audit fees
, 108–109
oligopolistic structure
, 102
quality of
, 103
regression results
, 115–116
sample selection and matching criteria
, 107–108
sensitivity analysis
, 113–114
services
, 102
Auditors in China
audit fees of
, 113
classification of
, 102
Balance sheet
, 2, 12, 34
incremental
, 13
risk
, 79
Banking system of China
, 28
Banks
asset value
, 84–85
capital regulation
, 82–83
credit allocation
, 36
failure resolutions
, 83
loan
, 37
excess demand for
, 36
market
, 29–33
see also Commercial loan market
long-term subdebt
, 83
return rates
, 28
risk-taking behavior
, 84–85, 96
subordinated debt
, 78
Basel Capital Accord
, 78, 83, 85
Basel Committee on Banking Supervision
2003
, 78, 83
2004
, 96n1
Basel III
, 16
Baseline (static) model
, 154–155
BCC model
, 177
Binary choice model
, 131
Binary probit estimation of employment probability
for foreign spouses
, 137–138
for native and foreign spouses
, 139
Blinder—Oaxaca decomposition approach
, 131
Bond insurance contract
, 8
Bond prices
for alternative capital standards
, 90
for alternative conditions
, 92
impact on housing prices
, 191–195, 198–199
Bonds domestic credit
, 194
Brazil, Russia, India, China, and South Africa (BRICS) countries
, 41–42, 64, 66, 68–69, 175
Broadband network
, 178–179
Brokers, self protection by
, 14
Brownian diffusion
, 23
Business-conduct rules
, 6
Capital
, 6
accumulation
, 40
adequacy
, 60
asset pricing
, 31
market rate
, 34
positions
, 97n10
standards
, 79, 83–84
Capital forbearance
, 84–85
bond prices for alternative capital standards without
, 90
subdebt prices
, 89
Cash-market portfolio
, 13
CCR model
, 177
Central clearing party (CCP), expansion in role of
, 14
Chartering
, 6
Chicago Board Options Exchange (CBOE)
, 52
China Securities Regulatory Commission (CSRC)
, 104, 107–108
Chinese Institute of Certified Public Accountants (CPA)
, 104
Cobb-Douglas specification
, 154
Collateral restriction
, 6
Commercial loan market
, 29
MLE of
, 35
Taiwan, price adjustment process in
, 33–36
Commercial loans
, 28
Commodities Futures Trading Commission (CFTC)
, 14
Constant relative rate of risk aversion (CRRA)
, 19–20
Consumption growth process
, 19–20
Continuous-time asset pricing model
, 20
Contract(s)
, 16n3
between counterparties
, 12
insurance and reinsurance
, 3–4
nonperformance, risk of
, 7
performance
, 14
Contract-based national regulatory cultures
, 2
Conventional asset pricing model
, 20–23
Conventional infinite-horizon model
, 20
Corporate social responsibility (CSR).
, 176
Counterparty risk
, 13
Credit crunch
, 36
in banking industry
, 29
definition of
, 28
Credit default swaps (CDS)
, 8
Credit demand and supply
, 28
Credit rationing theory
, 28–29
Credit risk
, 80
Crisis management
, 7
Cross-border
agreements
, 2
marriages
, 122
Cross-guarantees
, 8
Cultural assimilation
, 123
Culture, definition of
, 5
Customers protection, against loss
, 4
Data envelopment analysis (DEA)
, 174–177, 186
input and output variables
definition of
, 174
selection and correlation of
, 178–179
Da Xin audit firm
, 102
Debt
returns
, 19
structure
, 85, 93–95
Decomposition analysis of employment probability
, 146–147
Deeply insolvent firm
, 7
Default risk
, 25
Delinquent borrowers, mistreatment of
, 7
Deposit dynamics
, 81–82
Deposit growth rate
, 93–95
Difficult-to-unwind (DTU) firm
, 15
systemic risk
, 2
taxpayer an equity investor
, 2
Digital TV
, 178–179
Disciplinary actions
Disclosure
, 6, 104, 114, 178
Disequilibrium
of credit demand
, 28
in credit market, types of
, 28
model of bank loan market
, 29–33
outcomes
, 28
Dividends
, 82–84
DMUs of Company, in Taiwan
before and after consolidation
, 186
first phase of consolidation, operational efficiency analysis
in 2006 and 2007
, 179–180
in 2006 and 2007∼2010
, 181
input and output variables, definition of
, 178
research subjects and data resource
, 177–178
second phase of consolidation, operational efficiency analysis
in 2007∼2010 and 2011
, 184–186
in 2010 and 2011
, 181–183
Dodd-Frank Act (DFA) of 2010
, 8, 14–15
Financial Stability Oversight Council (FSOC)
characteristics of
, 16
powers of
, 10
purpose of
, 2
toolkits and language of swaps regulation
, 13–14
Due-diligence expense
, 13
Dynamic equity
, 194
Dynamic model
, 156–159
Economic development (ED)
, 160
Economic growth process in urban sector
, 158
Economy of China
as dual economy
, 152, 154
economic reform policies
, 152
Education capital, investment rates of
, 158–159
Education investment inequality
, 154, 160–164, 166, 170–171
Emergency Economic Stabilization Act
, 10
Emerging markets
, 41
Employment assimilation
, 123
Employment probability in Taiwan
, 133
decomposition analysis of
, 146–147
foreign spouses
, 137–138
of immigrants and native-born workers
, 131
native and Chinese spouses
, 144
native and foreign spouses
, 139, 142
native and Southeast Asian spouses
, 143
Southeast Asian and Chinese spouses
, 140–141
Equity
, 19
financing
, 41
premium on claims on future deposits
, 25
price, impact on housing prices
, 191–195, 198–199
strips
, 24
European debt crisis in 2010
, 29
European sovereign risk (2009–2011) crisis
, 60
Eurozone banking sector
, 29
Exogenous variables
, 191
Fail-safe structure
, 14
Federal banking
, 7
Federal Insurance Office (FIO)
, 10–11
Federal Reserve
, 3
Female immigrants
arrival age, women working by
, 127–128
conceptual framework and empirical specifications
, 129–133
employment assimilation of
, 123
Financial institutions
bailouts
, 6–7
regulation of
, 4
Financial market
deregulation of
, 28
liberalization in
, 28
variables
, 191, 193
Financial products, protection for customers
, 4
Financial regulation
imbedded in bureaucratic machinery
, 6
over-riding task of
, 5
Financial regulators, prudential regulation imposition on
, 6
Financial Stability Oversight Council (FSOC)
, 5
Financial transactions
, 5
Fiscal expenditure (FE)
, 160–161
Foreign spouses in Taiwan
employment status of
, 126
characteristics and country of origin
, 130
decomposition analysis of employment probability
, 146–147
foreign spouses and native women, comparison between
, 145–146
SEA and MCH spouses, comparison between
, 133–145
female spouses from Southeast Asia and China
, 122–123
Foreign trade (FT)
, 160
FTSE 100 index
, 55
GDP
, 40–41
Global financial crisis in 2008
, 28–29, 37
Global imbalance
, 28
GMM method
, 191, 193–195, 198
Gold price, impact on housing prices
, 191–195, 198–199
Government-chartered financial intermediary
, 13
Government institutions
, 4
Granger causality test
, 63–64, 69
between stock returns and IPG
, 65–66
between stock return volatility and IPG
, 67–68
Guo Fu Hao Hua audit firm
, 102
Health capital, investment rates of
, 158–159
Health investment inequality
, 154, 160, 164, 170–171
Housing industry in Asia-Pacific region
asset market indicators, effects of
, 192–193
current account surplus (or deficit) and, relationship between
, 192
housing prices and bank loans, interrelationship in Hong Kong
, 191–192
influenced by taxation and land use regulations
, 190
macroeconomic variables, impact of
, 191
monetary authority arrangement
, 190
portfolio diversification during economic crisis
, 192–193
rise in prices
, 190
equity prices
, 195, 199
gold price influence on
, 195, 198
role played by
, 192
vs developed economies
, 190
Housing prices model
, 194
Human capital investment in China
, 170
components of
, 153, 155
equilibrium analysis
, 157–159
cross-country analysis
, 153
depreciation rates of
, 157–158
different stages
, 167–170
empirical implementation
econometric model
, 160
equilibrium analysis of
, 156–159
functions of
, 155
investment rates of
, 157
trends of
, 167
urban-rural income gap, impact on
, 152
Human capital theory
, 129
Immigrants
earnings of workers
, 122
integration in US and UK
, 122
labor force participation rate of
, 123
labor market performance
, 122
Immigrants in Taiwan
employment status of marriage
, 123–129
foreign spouses
reasons for marriage
, 122
through marriage
, 122
Impulse response function
, 196
Incentive conflict
, 3
Industrial production growth (IPG)
, 52
for Asian markets
, 48
for BRICS markets
, 47
downside risk in examination of
, 60
in emerging markets
, 43–45
estimation of
predicted by stock market growth and VIX
, 58–59
predicted by stock returns and VaR
, 61–62
predicted by stock returns and VIX
, 56–57
feedback to stock market
, 63–66
highest during recession period
, 63
robustness test of stock market value growth
, 53–54
for Scandinavia markets
, 46
time series model on, estimation of
, 51
Input variables
definition of
, 178
selection and correlation of
, 178–179
Instantaneous interest rate
, 80
Insurance products, regulation of
, 10–12
Interest rates
, 80, 82, 85
dynamics of
, 81
impact of rise in
, 28
initial spot
, 87
term structure of
, 97n10
Intertemporal budget
, 25
Intragovernmental checks and balances
, 7
Investors
, 26n, 5, 60
Japanese Nikkei index
, 69n6
Japan Railway Company, privatization of
, 175
Japan stock market
integration of
, 193
long-run depression in
, 49
Jing Du Tian Hua audit firm
, 102
Joint-audit
, 105
Jurisdictional migration
, 5
Labor market assimilation hypothesis
, 122, 131
Licensing
, 6
Liquidity requirements
, 6
Li Xin audit firm
, 102
Li Xin Da Hua audit firm
, 102
Loan market
disequilibrium model of
, 29–33
MLE of Commercial
, 35
supply and demand of
, 28
Lobbying activity
, 5
Local big auditors, in China
, 102–105
Local small (remained) auditors, in China
, 102
Mainland China (MCH) spouses
, 133–147
Margin restriction
, 6
Market discipline
, 78
in subdebt market
, 79
Market return
, 41–42
Market value
, 21, 25, 41–42, 52, 55, 63
Maturities of subdebt
, 85
Maturity-specific equity premium model
, 24–25, 26n4
Maximum likelihood estimator (MLE)
, 32–33
of commercial loan market
, 35
McCarran-Ferguson Act of 1945
, 10
Mehra and Prescott model equity
, 21, 23
Migration capital, investment rates of
, 158–159
Migration investment inequality
, 153–155, 160, 162, 170–171
Ministry of Finance (MOF), China
, 102, 104–105, 110
Mobile phone industry in Taiwan, liberated in 1997
, 174
Monte Carlo method
, 85
Moral hazard
, 84–85, 90
MRW Model
, 154
Multi-period subdebt
, 83–85
National Association of Insurance Commissioners (NAIC)
accreditation process
, 12
characteristics of
, 11
commissioner-members
, 12
developed and promulgated new standards
, 12
establishment of
, 11
federal officials influence on decision making of
, 11
goals of
, 11
National regulatory systems
, 2
Native-born working-age population
, 122
Native women in Taiwan
, 145–146
Near-bank-run event
, 36
Negotiating
, 13
Net growth rate of deposits
, 85
Nonagricultural development (NAD)
, 160
Non-State Owned Enterprises (NSOEs)
, 103
Notional principal amount
, 13
Office of Financial Research (OFR)
focus on systemic risk detection
, 3
task of
, 3
Office of Thrift Supervision (OTS)
, 3, 8, 10
One-party government
, 6
One-period subdebt
, 82–83
On-site examinations
, 4
Ordinary least square (OLS) regression
, 108
Organizational consolidation
, 176, 186
Out-of-sample forecasting ability
, 63
Output variables
definition of
, 178
selection and correlation of
, 178–179
Partial adjustment models
, 29
Payoffs of subdebt at maturity
, 83
Performance risk
, 5
Physical capital
depreciation rates of
, 157
investment rates of
, 157
Postcontract enforcement
, 13
Precontract shopping
, 13
Predatory lending
, 7
Private watchdogs
, 4–5
Probability of default (PD)
, 78
Probit decomposition of employment probability
, 148
native and Chinese spouses
, 144
native and foreign spouses
, 142
native and Southeast Asian spouses
, 143
Southeast Asian and Chinese spouses
, 140–141
Probit model
, 131–132
Prompt Correction Action (PCA)
, 78, 83–84, 87–90, 96
Protection selling
, 4–5
Prudential Insurance
, 7
Prudent savers
, 13
Pure rate of time preference
, 20
Pure technical efficiency (PTE)
, 174, 177, 181
Registration procedures
, 6
Regulatory
compliance
, 6
languages
, 4
machinery
, 5–7
norms
, 5–7
toolkits
, 6
tools
, 6
Regulatory culture, concept of
, 4–5
characteristics of
, 5
components of
, 6
definition of
, 5
Relative rate of risk aversion
, 20, 22
Reorganization
, 83–84
for business managers
, 174
and privatization, correlation between
, 175
Representative agent
, 20
Risk-adjusted assets
, 84
Risk-averse behavior
, 60
Risk aversion
, 20
Risk-free real interest rate
, 21
Risk management
, 7
Risk-neutralization
, 81
Risk-neutral pricing
, 81
Risk-return choice
, 40
Risk-spread relation
, 96
Risk-weighted assets (RWA)
, 78
RMB business
, 28
Robustness test, of stock market value growth on IPG
, 53–54
Root mean square errors (RMSE)
, 63
Safety-net
abuse
, 15
guarantees
, 15
subsidies
, 3–4
Sargan Test
, 161, 194
Saving glut
, 28, 37
Scale efficiency (SE)
, 174, 177
Securities execution facilities (SEFs)
, 14
Senior creditors
, 78
Sinofin Economic and Financial Databases
, 108
Small-and medium-sized enterprises (SMEs)
, 29
Social norms, agency disciplinary tactics
, 7
Solow model
, 154
Southeast (SEA) spouses
, 133–147
State-Owned Enterprises (SOEs)
, 103, 105
Stock market(s)
capitalization ratio
, 69n3
channeling savings into investments
, 40
comovement behavior of
, 69n5
flows of fund mechanisms
, 40
global financial crisis 2008-09 impact on
, 45–46
IPG feedback to
, 63–66
negative effect of
, 52–55
partially integrated in China
, 193
performance
, 40
data description
, 42
in emerging markets
, 41
empirical evidence
, 49–52
projections based on market functions
, 40
robustness test of
, 53–54
value of trading
, 40
variable
, 41
volatility of
, 40–41
in German market
, 55
impact on advanced markets
, 55
Stock returns
, 41
calculation of
, 42
in emerging markets, statistics of
, 42–44
estimation of
, 51
Granger causality test
, 65–66
volatility
, 63
Stocks prices indices
for Asian markets
, 48
for BRICS markets
, 47
for G6 markets
, 45
for Scandinavia markets
, 46
Stress tests
, 6
Subdebt / Subdebt holders
CDS spreads on
, 78
deposit insurance subsidy, reduction in
, 79
disciplining role of
, 79
issuance
, 78
junior status of
, 78
mandatory issuance
, 78
model for pricing
asset dynamics
, 80–81
deposit dynamics
, 81–82
numerical analysis, parameter values
, 85–87
prices under
, 87–90
forbearance
, 90–93
PCA
, 87–90
pricing
multi-period subdebt
, 83–85
one-period subdebt
, 82–83
proponents of
, 78
rise of bank risk
, 78
supplementary information to supervisors
, 78
zero-coupon bonds
, 80
Subdebt-to-equity ratio
, 95
Subordinated
debentures
, 78
holders
, 78
Supervisory Capital Assessment Program
, 78
Survey of Foreign and Mainland Spouses’ Life Status (2003)
, 122–123, 131, 147
SVAR model
, 193–195, 198–199
Swap(s)
, 7
agreement
, 12
arranged with third-party dealer or market-maker
, 13
contracts
, 2, 4, 13
definition of
, 12–13
exchange cash flows between parties
, 12
financially engineered substitutes
, 13
regulation of
, 12–14
Swap data repositories (SDRs)
, 14
Symmetric market risk
, 60
System generalized methods of moments (System GMM) method
, 161–162, 164, 167
Systemically important financial institutions (SIFIs)
, 16
Systemic-risk
efforts to control
, 15–16
regulation
, 7
regulators
, 4
Taiwan
credit market
, 29
facing risk of China banking system
, 28
price adjustment process in commercial loan market
, 33–36
Taiwan Economic Journal (TEJ) database
, 108
Taiwan Strait tension in 1996
, 36
Technical efficiency (TE)
, 174, 177, 181
Telecommunication business / companies
, 174
operational efficiencies / performance
, 175–176
production efficiency of
, 175–176
Tenor, definition of
, 12
Theft by safety net
, 15
Tian Jian audit firm
, 102
TIM mobile company
, 175
Traditional family labor supply model
, 129, 148n2
Transactions costs, types of
, 13
Transactions to market valuation (TRMV)
, 69n3
Two-stage least squares (2SLS) method
, 32, 36–37
Uncertain mean growth rate
, 23–24
Urbanization (UR)
, 160–161
Urban-rural human capital accumulation gap
, 152
Urban-rural income gap in China
, 155, 171
absolute convergence
, 152
descriptive statistics of variables
, 162
dynamic panel data model, estimation of
, 160
educational difference affecting
, 153
empirical model
, 160
empirical results
in different periods
, 166–170
at national level
, 161–164
at regional level
, 164–166
equilibrium
analysis of
, 156–159
wages
, 159
human capital investment role in
, 152–154
immigration of rural labor force
, 153
migration investment, increase in
, 162
regression results at national level
, 163
rural human capital spillover, widening of
, 153
variables and data, measurement of
, 160–161
Urban-rural resource allocation
, 153
US bank regulation, principal tools of
, 4
U-shape hypothesis
, 152
U.S. subprime crisis (2007_2009)
, 60
U.S. telecommunications companies, CSR implementation in
, 176
Value-at-risk (VaR)
, 60, 69
Variance decomposition (VDC)
, 195, 197–199
VIVO
, 175
Wealth-management services
, 4
Wiener process
, 81
Women’s Marriage, Fertility and Employment Survey (2003)
, 123, 131, 147
WTO
, 105
Xin Yong Zhong He audit firm
, 102
YSM variable
, 144–145
Zero-coupon bonds
, 80
Zhong Rui Yue Hua audit firm
, 102
- Prelims
- Insurance Contracts and Derivatives that Substitute for them: How and Where Should their Systemic and Nonperformance Risks be Regulated?
- A Further Equity Premium Puzzle
- Credit Crunch and Saving Glut in Taiwan: Empirical Evidences
- Stock Market Activities and Industrial Production Growth: Evidence from 20 International Markets
- Bank Capital Standards and Subordinated Debt Prices
- Accounting Fraud, Audit Fees, and Government Intervention in China
- The Employment Status of Marriage Immigrants in Taiwan
- Human Capital Investment Inequality and Rural–Urban Income Gap: Evidence from China
- An Operational Efficiency Analysis for Organizational Consolidation in the Business Operating Departments of a Case Telecom Company
- Financial Market Variables and Housing Prices: Evidence of ASEAN+2
- Index